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Business Statistics: Communicating with Numbers 2nd Edition Test Bank

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    Chapter 01 1. A knowledge of statistics provides the necessary tools to differentiate between sound and questionable conclusions. True False 2. Statistics is the methodology of extracting unnecessary information from a data set. True False 3. The branch of statistical studies called descriptive statistics summarizes important aspects of a data set. True False 4. The branch of statistical studies called inferential statistics refers to drawing conclusions about sample data by analyzing the corresponding population. True False 5. A population is a larger data set than its corresponding sample. True False 6. Population parameters are used to estimate corresponding sample statistics. True False 7. Typically, it is possible to examine every member of the population. True False 8. Cross - sectional data contain values of a characteristic of one subject collected over time. True False 9. Time series data contain values of a characteristic of a subject over time. True False 10. Sampling is often necessary due to the potential cost and time of gathering population data. True False

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    11. Sampling allows researchers to draw conclusions about the population. True False 12. A qualitative variable assumes meaningful numerical values. True False 13. Both discrete and continuous variables may assume an uncountable number of values. True False 14. A discrete variable cannot assume an infinite number of values. True False 15. A continuous variable assumes any value from an interval (or collection of intervals). True False 16. A professor's gender (male, female) as well as rank (assistant, associate, full) represent ordinal data. True False 17. A professor's rank (assistant, associate, and full), as well as salary, represent ordinal data. True False 18. Many people believe that statistics has no use in real life. True False 19. The weather forecast cannot be based on only the weather for the last three days. True False 20. Data and data interpretation do not show up in every facet of life. True False 21. A population is defined as all possible subjects of a specific group. True False 22. Researchers use sample results in an attempt to estimate an unknown population statistic. True False

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    23. The recorded body temperature of patients in the group of patients under research study is an example of time series data. True False 24. Body weight is an example of a discrete variable. True False 25. The mathematical operation of addition can be performed on nominal data. True False 26. A ZIP code is an example of quantitative data. True False 27. Ordinal scale reflects a stronger level of measurement than the nominal scale. True False 28. All mathematical operations can be performed on ratio - scaled data. True False 29. A respondent to a survey indicates that she drives a Nissan Pathfinder. This is an example of qualitative data. True False 30. The zero point of an interval scale reflects a complete absence of what is being measured. True False 31. Nominal and interval scales are used for qualitative variables. True False 32. The study of statistics can be defined as A. the language of data. B. the art and science of getting information from data. C. the study of collecting, analyzing, presenting, and interpreting data. D. All of these choices are correct.

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    33. When reading published statistics (numerical facts), you should A. never believe what you read, becauseall statistics are lies. B. only believe those statistics that are adequately supported. C. believe what you read, becausethey wouldn’t be published if they weren’t correct. D. only believe those statistics that are presented in so - called quality publications. 34. The two branches of the study of statistics are generally referred to as A. descriptive and inferential statistics. B. inferential and differential statistics. C. descriptive and referential statistics. D. differential and descriptive statistics. 35. Population parameters are difficult to calculate due to A. cost prohibitions on data collection. B. the infeasibility of collecting data on the entire population. C. the fact that samples are difficult to draw due to the nature of the data. D. both cost prohibitions on data collection and the infeasibility of collecting data on the entire population. 36. The teachers’ union in California wants to know the average salary for high school teachers throughout the country. What is the teachers’ union presumably planning to calculate? A. Sample statistic B. Sample parameter C. Population statistic D. Population parameter 37. A population consists of A. all items of interest in a sample. B. a subject of interest in a sample. C. all items of interest in a statistical problem. D. a subject of interest in a statistical problem.

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    38. In inferential statistics, we calculate statistics of sample data to A. estimate unknown population parameters. B. conduct tests about unknown population parameters. C. Both of these choices are correct. D. Neither of these choices is correct. 39. Which of the following represents a population and a sample from that population? A. Residents of Albany, New York, and registered voters in Albany, New York B. Teachers of a high school and members of the parent - teacher group C. Fans at a concert who purchase T - shirts, and fans at a concert who purchase soda D. Freshmen at St. Joseph’s University and basketball players at St. Joseph’s University 40. Which of the following is an example of cross - sectional data? A. GDP of the United States from 1990 - 2010 B. Daily price of DuPont stock during the first quarter C. Quarterly housing starts collected over the last 60 years D. Results of market research testing consumer preferences for soda 41. Which of the following is an example of time series data? A. The sale prices of townhouses sold last year B. Quarterly housing starts collected over the last 60 years C. Results of market research testing consumer preferences for soda D. Starting salaries of recent business graduates at Penn State University 42. The estimation of which of the following requires sampling? A. U.S. unemployment rate B. Total rainfall in Phoenix, Arizona, in 2010 C. The Cleveland Indians’ hitting percentage in 2010 D. The average SAT score of incoming freshmen at a university

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    43. A company wants to estimate the mean price of oil over the past 10 years. What kind of data does the company need? A. Time series data B. Inferential statistics C. Cross - sectional data D. Descriptive statistics 44. For which of the following population parameters is sampling not necessary? A. The average height of NBA players B. The average life of light bulbs produced by a manufacturer C. The average content of cereal boxes produced by a manufacturer D. The percentage of the U.S. public school teachers who support Democrats 45. Sampling is used heavily in manufacturing and service settings to ensure high - quality products. In which of the following areas would sampling be inappropriate? A. Computer assembly B. Custom cabinet making C. Cell phone manufacturing D. Technical support by phone 46. Which of the following are examples of cross - sectional data? A. The test scores of students in a class B. The current average prices of regular gasoline in different states C. The sales prices of single - family homes sold last month in California D. All of these choices are correct. 47. An analyst studies a data set of the 2011 year - end book value per share for all companies listed on the New York Stock Exchange. This data set is best described as A. timeseries data. B. cross - sectional data. C. neither timeseries nor cross - sectional data. D. a combination of timeseries and cross - sectional data.

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    48. Which type of data, cross - sectional versus time series, is more important to research? A. Neither type of data is important. B. Cross - sectional data is more important than time series data. C. Time series data is more important than cross - sectional data. D. Time series data and cross - sectional data are equally as valuable in different types of research. 49. Which of the following variables is qualitative? A. Height B. Gender C. Weight D. Temperature 50. Which of the following variables is quantitative? A. Gender B. Temperature C. Marital status D. Religious affiliation 51. Which of the following is a quantitative variable? A. House age B. House size C. House price D. All of these choices are correct. 52. San Francisco 49ers’ linebacker Patrick Willis won the Defensive Rookie of the Year Award in 2007 with a total of 174 tackles. Tackles are measured on what kind of a scale? Is a variable measuring the number of tackles considered continuous or discrete? A. Ratio scale; discrete B. Interval scale; discrete C. Ratio scale; continuous D. Interval scale; continuous

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    53. Which of the following variables is not continuous? A. Height of NBA players B. Time of a flight between Atlanta and Chicago C. Average temperature in the month of July in Orlando D. The number of obtained heads when a fair coin is tossed 20 times 54. The ordinal scale of data measurement is A. less sophisticated than the nominal scale. B. more sophisticated than the interval scale. C. more sophisticated than the nominal scale. D. as equally sophisticated as the nominal scale. 55. The interval scale of data measurement is A. less sophisticated than the ratio scale. B. more sophisticated than the ratio scale. C. less sophisticated than the ordinal scale. D. equally sophisticated as the ratio scale because both are appropriate for quantitative data. 56. A recent survey of 200 small firms (annual revenue less than $10 million) asked whether an increase in the minimum wage would cause the firm to decrease capital spending. Possible responses to the survey question were: "Yes," "No," or "Don’t Know." This data is best classified as A. ratio scale. B. ordinal scale. C. interval scale. D. nominal scale. 57. Which scale of data measurement is appropriate for the names of companies listed on the Dow Jones Industrial Average? A. Ratio scale B. Ordinal scale C. Interval scale D. Nominal scale

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    58. An analyst collects data on the weekly closing price of gold throughout a year. The scale of this data is A. ratio scale. B. ordinal scale. C. interval scale. D. nominal scale. 59. An undergraduate student’s status (freshman, sophomore, junior, or senior) is an example of which scale of measurement? A. Ratio scale B. Ordinal scale C. Interval scale D. Nominal scale 60. The Fahrenheit scale for measuring temperature would be classified as a(n) A. ratio scale. B. ordinal scale. C. interval scale. D. nominal scale. 61. At the end of a semester college students evaluate their instructors by assigning them to one of the following categories: Excellent, Good, Average, Below Average, and Poor. The measurement scale is a(n) A. ratio scale. B. ordinal scale. C. interval scale. D. nominal scale. 62. What is the scale of measurement of the distance between any two locations? A. Ratio scale B. Ordinal scale C. Interval scale D. Nominal scale

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    63. Which scales of data measurement are associated with quantitative data? A. Interval and ratio B. Ratio and nominal C. Ordinal and interval D. Nominal and ordinal 64. Which data scales of measurement are associated with qualitative data? A. Interval and ratio B. Ratio and nominal C. Ordinal and interval D. Nominal and ordinal 65. The data represents the stock price for Google at the end of the past four quarters. Which of the following types of data best describe these values? A. Cross - sectional B. Nominal C. Time series D. Ordinal 66. Your business statistics class had a test last week. The average score for the class is an example of A. secondary data B. qualitative data C. descriptive statistics D. inferential statistics 67. A sample statistic is an estimate of A. population parameter. B. population statistic. C. sample parameter. D. descriptive statistic.

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    68. A ___________ represents all possible subjects of interest. A. sample B. population C. statistic D. parameter 69. A major portion of ______________ is concerned with the problem of estimating population parameters or testing hypothesis about such parameters. A. descriptive statistics B. population statistics C. inferential statistics D. business statistics 70. Data that describe a characteristic about a sample is known as a A. population. B. survey. C. parameter. D. statistic. 71. When a characteristic of interest differs among various observations, then it can be termed a A. parameter. B. variable. C. data. D. information. 72. A(n) ____________ variable is characterized by infinitely uncountable values and can take any value within interval. A. discrete B. infinite C. continuous D. quantitative

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    73. Differences between categories are meaningless with _________ data. A. ordinal B. interval C. ratio D. continuous 74. Which of the following scales represents the strongest level of measurement? A. Ordinal B. Nominal C. Ratio D. Interval 75. Which of the following scales represents the less sophisticated level of measurement? A. Ordinal B. Nominal C. Ratio D. Interval 76. The values of data on a(n) __________ scale can be categorized and ranked. A. ordinal B. nominal C. ratio D. interval 77. Which of the following characteristicsdoes the interval scale not have? A. Values can be categorized. B. Values can be ranked. C. There is a true zero point. D. The differences between values are valid. 78. Which of the following is an example of quantitative data? A. The ZIP code of your home address B. Google’s closing stock price today C. Your gender D. Your Social Security number

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    79. Which of the following is an example of qualitative data? A. Today’s high temperature B. The class average of last test C. The amount of time you spent for your homework D. Your last name 80. A respondent of a survey is asked whether the Philadelphia Flyers’ performance in the last game was excellent, good, fair, or poor. The person indicates that the performance was "good." This is an example of A. nominal data B. ordinal data C. interval data D. ratio data 81. Philadelphia experienced a record amount of rainfall in August of 2011. During the last week of the month, the city received additional rain from a hurricane. Becauseglobal warming is thought to cause extreme weather patterns, one conclusion that could be drawn is that these patterns are evidence of global warming. What is wrong with this conclusion?

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    82. Administrators have concluded that the SAT exam results for 2011 show a distinct change in student capabilities when compared with the year 1991. In 1991 the SAT exam included only multiple choice sections and was later redesigned. What is wrong with this conclusion? 83. A university is interested in tracking the success of its graduates by measuring the length of each graduate’s job search before getting a position in his or her chosen field. How would you define the appropriate population?

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    84. We would like to determine whether there is a difference between the height of a college team of basketball players at the Ohio State University and the height of the overall student body. Identify the two populations in this study. 85. In each of the following statements, determine whether the branch of statistics is best classified as descriptive statistics or inferential statistics. The average of a data set is equal to 35.7. The minimum value of a data set is 78, and the maximum value is 146. Because the average age in a sample is 23, it is likely that the average age in the population is about 23. Because the values in the sample are so widely dispersed, the spread of the population must be high.

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