A sample is the portion of the universe that is selected for analysis. Managers
ID: 3206270 • Letter: A
Question
A sample is the portion of the universe that is selected for analysis. Managers need an understanding of statistics to be able to present and accurately, draw conclusions about large populations based on small samples, improve processes, and make reliable forecasts. A variable may take on any value within its relevant range even though the measurement device may not be precise enough to record it. The Human Resources Director of a large corporation wishes to develop an employee benefits package and decides to select 500 employees from a list of all (N = 40,000) workers in order to study their preferences for the various components of a potential package. All the employees in the corporation constitute the coefficient of variation is expressed as a An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance. The number of claims a person has made in the last 3 years is an example of a variable. In purchasing an automobile, there are a number of variables to consider. The body style of the car (sedan, coupe, wagon, etc.) is an example of a variable. The point halfway between the boundaries of each class interval in a grouped frequency distribution is called the The measures variability in a data set relative to the sure of the mean. A is a summary table in which numerical data are tallied into class intervals or categories.Explanation / Answer
A. A sample corresponds to a representative subset of a population, studied in order to learn anythong of interest about the population.Therefore, sample corresponds to a portion of the population. Ans>Sample.
B. The purpose of statistics is to organize, manipulate, and analyze informatio so that researchers can test theories and answer questions associated with it. Ans> Information.
C. Unlike discrete varaible, which takes only a specific value, continuous variable takes values between two values. It is actually expressed over an interval of values. Ans> Continous.
D. The entire group of individuals or instances about whom one is interested to learn and know is reffered as population. Therefore, all the employees in the Corporation constitute population, because, the human resource director is interested to know the employees' preferrence of various components about the package. Ans>Population.