The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business ______. (21-1)

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Answer 1

Textbook Question

Chapter 21, Problem 1CR

The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business ______. (21-1)

Expert Solution & Answer

To determine

To fill: The statement, “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business____” with the appropriate word.

Answer to Problem 1CR

Solution:

The complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Explanation of Solution

Business statistics is the study of numerical data, figures, measurements, and facts.

It is used to convert raw numerical data into useful information.

The process of business statistics for a particular business situation follows the below steps,

1. The first step is to collect the raw data for a specific situation.

2. After collecting the relevant data, it is important to interpret that data so that a particular job can be done.

3. The final step is to present that outcome so that a non-statistical person can also easily understand that report.

Hence, the complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

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Answer 2

Textbook Question

Chapter 21, Problem 1CR

The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business ______. (21-1)

Expert Solution & Answer

To determine

To fill: The statement, “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business____” with the appropriate word.

Answer to Problem 1CR

Solution:

The complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Explanation of Solution

Business statistics is the study of numerical data, figures, measurements, and facts.

It is used to convert raw numerical data into useful information.

The process of business statistics for a particular business situation follows the below steps,

1. The first step is to collect the raw data for a specific situation.

2. After collecting the relevant data, it is important to interpret that data so that a particular job can be done.

3. The final step is to present that outcome so that a non-statistical person can also easily understand that report.

Hence, the complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Textbook Question

Chapter 21, Problem 1CR

The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business ______. (21-1)

Expert Solution & Answer

To determine

To fill: The statement, “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business____” with the appropriate word.

Answer to Problem 1CR

Solution:

The complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Explanation of Solution

Business statistics is the study of numerical data, figures, measurements, and facts.

It is used to convert raw numerical data into useful information.

The process of business statistics for a particular business situation follows the below steps,

1. The first step is to collect the raw data for a specific situation.

2. After collecting the relevant data, it is important to interpret that data so that a particular job can be done.

3. The final step is to present that outcome so that a non-statistical person can also easily understand that report.

Hence, the complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 21, Problem 1CR

The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business ______. (21-1)

Expert Solution & Answer

To determine

To fill: The statement, “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business____” with the appropriate word.

Answer to Problem 1CR

Solution:

The complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Explanation of Solution

Business statistics is the study of numerical data, figures, measurements, and facts.

It is used to convert raw numerical data into useful information.

The process of business statistics for a particular business situation follows the below steps,

1. The first step is to collect the raw data for a specific situation.

2. After collecting the relevant data, it is important to interpret that data so that a particular job can be done.

3. The final step is to present that outcome so that a non-statistical person can also easily understand that report.

Hence, the complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

To fill: The statement, “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business____” with the appropriate word.

Answer to Problem 1CR

Solution:

The complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Explanation of Solution

Business statistics is the study of numerical data, figures, measurements, and facts.

It is used to convert raw numerical data into useful information.

The process of business statistics for a particular business situation follows the below steps,

1. The first step is to collect the raw data for a specific situation.

2. After collecting the relevant data, it is important to interpret that data so that a particular job can be done.

3. The final step is to present that outcome so that a non-statistical person can also easily understand that report.

Hence, the complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Answer 8

Expert Solution & Answer

To determine

To fill: The statement, “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business____” with the appropriate word.

Answer to Problem 1CR

Solution:

The complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Explanation of Solution

Business statistics is the study of numerical data, figures, measurements, and facts.

It is used to convert raw numerical data into useful information.

The process of business statistics for a particular business situation follows the below steps,

1. The first step is to collect the raw data for a specific situation.

2. After collecting the relevant data, it is important to interpret that data so that a particular job can be done.

3. The final step is to present that outcome so that a non-statistical person can also easily understand that report.

Hence, the complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

To fill: The statement, “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business____” with the appropriate word.

Answer 12

Answer to Problem 1CR

Solution:

The complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Answer 13

Explanation of Solution

Business statistics is the study of numerical data, figures, measurements, and facts.

It is used to convert raw numerical data into useful information.

The process of business statistics for a particular business situation follows the below steps,

1. The first step is to collect the raw data for a specific situation.

2. After collecting the relevant data, it is important to interpret that data so that a particular job can be done.

3. The final step is to present that outcome so that a non-statistical person can also easily understand that report.

Hence, the complete statement is “The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business statistics”.

Answer 14

Ch. 21.I - Use Table 21-1 to answer the following questions...Ch. 21.I - Use Exhibits 21-1 and 21-2 to answer the following...Ch. 21.I - Prob. 3TIE Ch. 21.I - Prob. 4TIE Ch. 21.I - Prob. 5TIE Ch. 21.I - Prob. 6TIE Ch. 21.I - Prob. 7TIE Ch. 21.I - Prob. 8TIE Ch. 21.I - Prob. 9TIE Ch. 21.I - Prob. 10TIE

The systematic process of collecting, interpreting, and presenting numerical data about business situations is known as business ______. (21-1)

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