In Business,statistical Methods Are Used to Present Data in a Concise

question 14

True/False

In business,statistical methods are used to present data in a concise and understandable manner and to estimate population characteristics.

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Definitions:

Frequency Distribution

A table or graph that displays how often different values or categories occur in a dataset.

Histogram

A histogram is a graphical representation that organizes a group of data points into user-specified ranges, showing the frequency of data values within those ranges.

Frequency Polygon

A graphical representation of a frequency distribution where values are plotted on the x-axis and frequencies on the y-axis, connected by straight lines.

Frequency Distribution

A summary of how often each value in a set of data occurs, showing the pattern of data over a range.