If the Variance of a Data Set Is Correctly Computed

question 16

Multiple Choice

If the variance of a data set is correctly computed with the formula using n − 1 in the denominator, which of the following is true?

• A) The data set is a sample.
• B) The data set is a population.
• C) The data set could be either a sample or a population.
• D) The data set is from a census.

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Definitions:

Preferences

Individual tastes or desires that influence their choices among various goods, services, or outcomes.

Fewer Errors

A reduction in mistakes or inaccuracies, often resulting in improved efficiency, quality, or performance in various contexts.

System 1

A term often used in psychology to describe the fast, automatic, and emotional way of thinking, as opposed to the slower, more logical thinking of System 2.

Decision Making

The process of selecting among alternatives to achieve a goal or solve a problem.