Business Uses Statistics in Decision Making | Sample Assignment

Virtually every area of business uses statistics in decision making. A. True B. False Correct! Virtually every area of business uses statistics in decision making. 2.Parameters are usually denoted by Greek letters, while a statistic is usually denoted by Roman letters. A. True B. False Incorrect. Parameters are usually denoted by Greek letters, while a statistic is usually denoted by Roman letters. 3.A measurement is when a standard process is used to assign numbers to particular attributes or characteristics of a variable. A.B.True False Correct! A measurement is when a standard process is used to assign numbers to particular attributes or characteristics of a variable. 4.Numerical data in which the numbers are used only to classify or categorize the observations are an example of interval data. A. True B. False Incorrect.