When Statisticians Analyze Sample Data in Order to Draw Conclusions

question 80

Multiple Choice

When statisticians analyze sample data in order to draw conclusions about the characteristics of a population, this is referred to as:

• A) Descriptive statistics
• B) Statistical inference
• C) Data analysis
• D) Data summarization

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Definitions:

Auction

A public sale in which goods or property are sold to the highest bidder.

Creditor

A party or institution to whom money is owed.

Default

The failure to fulfill an obligation, especially the failure to make payments on a loan.

Exempt Property

Assets that cannot be seized by creditors to satisfy a debt, as defined by law.