Data Are the Processed Facts and Figures That Can Be

question 85

True/False

Data are the processed facts and figures that can be used for managerial decision making.

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Definitions:

Distribution

In statistics, it refers to the way in which values of a variable or a set of variables are spread or dispersed across a range of values.

Magnitude

A quantitative measure of size or extent, often used in context to describe the importance or severity of a variable or event.

Correlation Coefficient

A numerical measure that indicates the extent of a linear relationship between two variables, ranging from -1 to 1.

Best Fitting Line

A line that best represents the relationship between variables in a scatter plot, minimizing the distances of the data points from the line.