In an Application for a Credit Card, a Potential Customer

question 42

Multiple Choice

In an application for a credit card, a potential customer is asked for his/her social security number.A social security number is an example of a:

• A)qualitative variable
• B)quantitative variable
• C)qualitative or quantitative variable, depending on when the number was issued
• D)ratio variable
• E)time series variable

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Definitions:

Critical Value

A threshold value that delineates the boundary of the rejection region in statistical hypothesis testing.

Degrees Of Freedom

The number of independent values or quantities that can be assigned to a statistical distribution, impacting the calculation of a test statistic.

Expected Frequency

The theoretical frequency of an event or outcome calculated under a specific hypothesis for comparison with observed frequencies.

Groups

In the context of data analysis and statistics, groups refer to categories or sets into which data points are classified based on specific characteristics.