S29 - 4. In purchasing an automobile, there are a number of...

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1. An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance. The number of tickets a person has received in the last 3 years is an example of a _______ variable. ANSWER: discrete TYPE: FI DIFFICULTY: Easy KEYWORDS: discrete random variable, types of data 2. In purchasing an automobile, there are a number of variables to consider. The body style of the car (sedan, coupe, wagon, etc.) is an example of a _______ variable. ANSWER: categorical TYPE: FI DIFFICULTY: Easy KEYWORDS: categorical random variable, types of data 3. In purchasing an automobile, there are a number of variables to consider. The classification of the car as a subcompact, compact, standard, or luxury size is an example of a _______ variable. ANSWER: categorical TYPE: FI DIFFICULTY: Easy KEYWORDS: categorical random variable, types of data
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Unformatted text preview: 4. In purchasing an automobile, there are a number of variables to consider. The color of the car is an example of a _______ variable. ANSWER: categorical TYPE: FI DIFFICULTY: Easy KEYWORDS: categorical random variable, types of data 5. Most colleges admit students based on their achievements in a number of different areas. Whether a student has taken any advanced placement courses is an example of a _______ variable. ANSWER: categorical TYPE: FI DIFFICULTY: Easy KEYWORDS: categorical random variable, types of data 6. Most colleges admit students based on their achievements in a number of different areas. The grade obtained in senior level English (A, B, C, D, or F) is an example of a _______ variable. ANSWER: categorical TYPE: FI DIFFICULTY: Moderate KEYWORDS: categorical random variable, types of data...
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This note was uploaded on 02/14/2011 for the course ECON 100 taught by Professor Mmm during the Spring '11 term at Allen University.

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