To Determine Credit Card Average Purchases,managers of Component City Stereo

question 25

Multiple Choice

To determine credit card average purchases,managers of Component City Stereo and Appliances reviewed credit card sales receipts from the previous three months.Managers are conducting marketing research by collecting and analyzing

• A)primary data.
• B)observational data.
• C)questioning data.
• D)secondary data.

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Definitions:

1st Quartile

The 1st quartile, also known as the lower quartile, is a statistical measure that divides the lowest 25% of data in a dataset from the highest 75%.

3rd Quartile

The value below which 75% of the data in a dataset falls, marking the upper quartile in a distribution of values.

Negatively Skewed Distribution

A distribution where the tail on the left side of the probability density function is longer or fatter than the right side.

1st Quartile

The value below which 25% of the data falls, often used in statistics to measure the spread of a data set.