The Larger the Number of Observations in a Numerical Data

question 54

True/False

The larger the number of observations in a numerical data set,the smaller the number of class intervals needed for constructing a grouped frequency distribution.

---

Definitions:

Spend Analysis

The process of collecting, cleansing, classifying, and analyzing expenditure data with the purpose of reducing costs, improving efficiency, and monitoring compliance.

Sourcing Strategy Process

The methodology and approach taken by an organization to identify, evaluate, and engage suppliers for acquiring goods and services.

High Risk

Pertains to the potential for significant loss or failure, often used in finance, investment, and project management to describe ventures with uncertain outcomes.