Which of the following terms describes the entity on which data are collected?

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Master Arizona State University's ECN221 Business Statistics Exam with our resources. Utilize flashcards and multiple-choice questions. Understand every concept with hints and explanations to excel in your exam!

The term that describes the entity on which data are collected is "element." In statistical terms, an element refers to the individual unit or point of data that is being observed or measured within a study. This could be a person, an object, a transaction, or any singular item from which information is gathered. Understanding this concept is critical because it lays the foundation for how data will be analyzed and interpreted.

A sample, on the other hand, refers to a subset of elements taken from a larger group known as the population. The population encompasses all possible elements that could be studied, while the variable denotes the characteristics or traits that are measured from the elements (for example, height, age, or income). While these terms are closely related in research methodology, the specific term for the individual entity being observed or measured is "element."

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