________ Is Relatively Inexpensive Because It Has Already Been Collected,analyzed,and

question 46

Multiple Choice

________ is relatively inexpensive because it has already been collected,analyzed,and summarized by another party.

• A) Primary data
• B) Secondary data
• C) Raw data
• D) Transaction data

---

Definitions:

Sample

A subset of individuals or observations from a population used to estimate parameters or statistics of the whole population.

Mean

The average of a set of numbers, calculated by summing them up and dividing by the number of summands.

Standard Deviation

A measure of the amount of variability or dispersion of a set of values around the mean.

Confidence Interval

A span of numbers, calculated from observed data statistics, that probably encompasses an unknown parameter of a population.