(Financial Data) Flashcards

The frequency of something is displayed in a table. Answer: Frequency table

Answer: TRUE

A frequency table is indeed used to display the number of times something occurs. It organizes data into categories or intervals and counts the frequency or occurrence of each category. This type of table is commonly used in statistics and data analysis to summarize and present categorical data.

A strategy for earning and spending cash.

Answer: Budget

A budget is a plan for making and spending money. It helps individuals, households, businesses, and organizations manage their finances effectively by allocating income to various expenses and savings goals.

A graph that displays data using horizontal or vertical bars.

Answer: Bar Graph

A bar graph is a type of chart that uses horizontal or vertical bars to represent and compare data categories. The length or height of each bar corresponds to the value or quantity being represented. Bar graphs are commonly used to display categorical data and make it easy to visualize comparisons between different categories or groups.

A place-valued data visualization graph.

Answer: Stem and leaf plot

A stem-and-leaf plot is actually a type of graph that displays data using place value. In a stem-and-leaf plot, each data point is divided into a "stem" (usually the leftmost digit(s)) and a "leaf" (the rightmost digit). The stems are listed vertically, and the corresponding leaves are placed next to their respective stems.

A dot-based data graph.

Answer: Dot Plot

A dot plot is a graph that displays data using dots. It is also known as a dot chart or dot diagram. In a dot plot, each data point is represented by a dot above the corresponding value on a number line or axis.

A graph showing data set comparisons.

Answer: Scatterplot

A scatterplot is the correct chart for comparing two data sets because it plots paired values from two variables as individual points, revealing relationships or correlations. A bar graph and histogram display single-variable distributions or category counts, and 'correlation' is a statistical measure, not a type of graph.

The difference between a collection of data's top and lowest scores. Answer: Range

Answer: TRUE

In statistics, the range refers to the difference between the highest and lowest values in a set of data. It provides a measure of the spread or variability of the data. To calculate the range, you subtract the lowest value from the highest value in the dataset.