The Component of Statistical Methodology That Includes the Collection,organization,and Summarization

question 93

Multiple Choice

The component of statistical methodology that includes the collection,organization,and summarization of data is called:

• A)descriptive statistics.
• B)analytical statistics.
• C)inferential statistics.
• D)predictive statistics.

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Definitions:

Microchips

Microchips are small semiconductor devices containing integrated circuits used in a wide range of electronic devices to perform computational or control functions.

Tires

Rubber components mounted on wheel rims, providing traction and absorbing shocks from the road surface for vehicles.

Absolute Advantage

The ability of an individual, company, or nation to produce a good or service more efficiently than competitors, using the same amount of resources.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than its competitors, underpinning international trade benefits.