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Earn +20 ptsQ: How do you figure out the value of a variable?
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Continue Learning about Statistics
Difference between nominal and real variable?
A nominal variable is a variable measured in current dollars (the value of the dollar for the specific period discussed), and a real variable is a variable measured in constant dollars (the value of the dollar for the base period). That is, a real variable adjusts for the effects of inflation.
What rule assigns each value of the independent variable to exactly one value of the dependent variable?
It is any invertible function.
What does a bar graph display?
Each bar displays the value of one variable for one value of a second variable. The second may be a qualitative variable or a quantitative one.
A variable whose value is a numerical outcome of a random phenomenon is called?
random variable.
Is the expected value of a discrete random variable equal to the mean of the random variable?
yes?
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