A statistic is a measure that summarizes a particular characteristic of an entire group of numbers.
Statistics is considered the universal language of the sciences which involves information, numbers, visual graphics in order to summarize information and its interpretation.
Statistics is the science of collecting, interpreting, and describing data. A statistic is any quantity computed from values in a sample which is considered for a statistical purpose.
Statistical measures are a descriptive analysis technique which is used to summaries the characteristics of a data set. This data set represent the whole population or a sample of it.
Hence, a statistic measure summarizes a particular characteristic of an entire group of numbers.
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Answer:
There are some important characteristics of frequency distribution. They are as follows: Measures of central tendency and location (mean, median, mode) Measures of dispersion (range, variance, standard deviation)
Explanation:
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Answer:
Invesmtent sector.
Explanation:
Is also responsible for the economic act of production.
Answer:
$26,000
Explanation:
Revenue for Charlie's chocolate is $97,000
Expenses is $71,000
Therefore the net income can be calculated as follows
= revenue - expenses
= $97,000-$71,000
= $26,000
Hence the net income is $26,000
Answer:The answer is production
Explanation:
Production can be defined as the creation of utilities needed to satisfy human wants. It is a transformation of raw materials into finished goods and the distribution and provision of goods and services to satisfy human wants. Production is said to be complete when the goods are finally in the hands of the users or consumers Who will consume the goods.
Goods can be divided into two namely:
Consumer good : consumer goods are the goods that can satisfy the consumer immediate wants. These goods do not need further process of production for their use by the consumer. Examples of consumer goods are milk, bread, beer.
Industrial good : industrial goods are the goods meant for the production of further goods.Examples are machines, cars, truck used in carrying out productive activities.
Raw materials are the examples of consumer goods that can be used as industrial goods to start a business. These raw materials are put together into finished goods through human effort with or without the help of machines. The raw materials are needed to produce goods without raw materials production of goods is impossible to achieve.
