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University of Phoenix - QNT/275 Statistics
for Decision Making Questions and Answers
2026 Latest Update
Statistics Ans: Statistics is the science of collecting, analyzing,
presenting, and interpreting data, as well as of making decisions
based on such analyses.
Descriptive Statistics Ans: Descriptive statistics consists of
methods for organizing, displaying, and describing data by using
tables, graphs, and summary measures.
Inferential Statistics Ans: Inferential statistics consists of methods
that use sample results to help make decisions or predictions
about a population.
Population / Target Population Ans: A population consists of all
elements—individuals, items, or objects—whose characteristics are
being studied. The population that is being studied is also called
the target population.
Element / Member / Observational units Ans: An element or
member of a sample or population is a specific subject or object
(for example, a person, firm, item, state, or country) about which
the information is collected.
Qualitative or Categorical Variable Ans: A variable that cannot
assume a numerical value but can be classified into two or more
non-numeric categories is called a qualitative or categorical
© 2025 All rights reserved
University of Phoenix - QNT/275 Statistics
for Decision Making Questions and Answers
2026 Latest Update
Statistics Ans: Statistics is the science of collecting, analyzing,
presenting, and interpreting data, as well as of making decisions
based on such analyses.
Descriptive Statistics Ans: Descriptive statistics consists of
methods for organizing, displaying, and describing data by using
tables, graphs, and summary measures.
Inferential Statistics Ans: Inferential statistics consists of methods
that use sample results to help make decisions or predictions
about a population.
Population / Target Population Ans: A population consists of all
elements—individuals, items, or objects—whose characteristics are
being studied. The population that is being studied is also called
the target population.
Element / Member / Observational units Ans: An element or
member of a sample or population is a specific subject or object
(for example, a person, firm, item, state, or country) about which
the information is collected.
Qualitative or Categorical Variable Ans: A variable that cannot
assume a numerical value but can be classified into two or more
non-numeric categories is called a qualitative or categorical
© 2025 All rights reserved
