MRMR216 Topic 8

What is the purpose of data preparation in business research?

• To analyze data using qualitative methods

• To ensure data is collected randomly

• To present data in a visual format

• To categorize data appropriately

Which of the following is NOT a measure of central tendency?

• Mean

• Median

• Mode

• Variance

What does mutual exclusivity in data categorization mean?

• Categories are not defined

• Each answer fits into only one category

• Each answer can fit into multiple categories

• Categories can overlap

How is the median calculated when the number of data values is even?

• Average the two central values

• Select the middle value

• Add all values and divide by the total count

• Use the mode as the median

What is the formula for calculating the mean?

• Mean = x/n

• Mean = Σn/x

• Mean = Σx/n

• Mean = n/Σx

What does standard deviation measure?

• The spread of data around the mean

• The average of a data set

• The highest value in a data set

• The total number of data points

Which of the following is true about the mode?

• It is always the highest value

• It is the average of all values

• It cannot be determined from the data

• It is the most frequently occurring value

What is the first step in calculating the standard deviation?

• Sort the data in descending order

• Identify the mode

• Count the number of data points

• Find the mean of the data

What is the significance of variance in data analysis?

• It determines the most common value

• It provides the total count of data points

• It indicates how data points differ from the mean

• It shows the average value

In the context of data sets, what does 'exhaustiveness' refer to?

• Data is limited to a specific group

• Data is collected from a single source

• Only the most relevant data is used

• All possible categories are included