Question
Question 34 Data collected from several entitics over a period of time (minutes, hours, days, ete.) are called categorical and quantitative data time series data cross-sectional data source data
Ask by Turner Wilson. in the United States
Feb 20,2025
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Answer
Time series data
Solution
The correct answer to the question is **time series data**.
### Explanation:
- **Categorical and quantitative data**: These refer to types of data rather than a specific collection over time.
- **Time series data**: This is data collected at different points in time, making it suitable for analyzing trends over time.
- **Cross-sectional data**: This refers to data collected at a single point in time across multiple subjects or entities.
- **Source data**: This is a general term for the original data collected from various sources, not specifically related to time.
Thus, the best choice for data collected over a period of time is **time series data**.
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Simplify this solution The Deep Dive
Time series data is a fantastic way to track how entities change over time. Think of it like a Netflix series where each episode reveals the next twist; you get insight into trends like seasonal shopping spikes or daily web traffic, making it invaluable for forecasting future events! Cross-sectional data, on the other hand, is like a snapshot of multiple entities at a single point in time. It's perfect for comparing different companies' performance or consumer preferences right now, but it doesn't tell you how things have evolved, which can sometimes leave you wanting more drama in your data story!
