Question: Differentiate between time series data and cross sectional data
Differentiate between time-series data and cross-sectional data.
Answer to relevant QuestionsDistinguish between primary and secondary data. Table 2.6.1 shows some items from a human resources database, representing the status of five people on May 3, 2010. In table 2.6.1 a. What is an elementary unit for this data set? b. What kind of data set is this: ...Let’s continue to look at the DJIA discussed in problem 26. Table 2.6.8 shows 23 daily observations of the value of the DJIA, with 22 observations of the net change from one observation to the next, and the percent change ...What kinds of trouble do outliers cause? Consider the costs charged for treatment of heart failure and shock by hospitals in the Puget Sound area, as shown in Table 3.9.6. a. Construct a histogram. b. Describe the distribution shape.
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