When Displaying the Distribution of Quantitative Data,it Is Best to Use

question 15

Multiple Choice

When displaying the distribution of quantitative data,it is best to use

• A)pie charts.
• B)bar graphs.
• C)histograms.
• D)stemplots or histograms.

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Definitions:

Systematic Component

Refers to the portion of variation or movement in a data set or statistical model that can be directly attributed to identifiable, predictable, and quantifiable factors.

Random Component

A variable within a statistical model that introduces uncertainty or randomness, affecting the outcome or predictions of the model.

Time Series Forecasting Methods

Statistical techniques used to predict future events based on observed historical data, particularly in finance, weather forecasting, and inventory management.

Collaborative Forecasting

A process where various stakeholders, including suppliers, retailers, and customers, work together to make more accurate predictions about future demand.