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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Document preview page 1

Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 1

Document preview content for Business Statistics: Communicating with Numbers 2nd Edition Test Bank

Business Statistics: Communicating with Numbers 2nd Edition Test Bank

Improve your exam results with Business Statistics: Communicating with Numbers 2nd Edition Test Bank, which includes a variety of MCQs and detailed answers to guide you.

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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 1 preview imageChapter 011.A knowledge of statistics provides the necessary tools to differentiate between sound andquestionable conclusions.TrueFalse2.Statistics is the methodology of extracting unnecessary information from a data set.TrueFalse3.The branch of statistical studies calleddescriptive statisticssummarizes important aspects of adata set.TrueFalse4.The branch of statistical studies calledinferential statisticsrefers to drawing conclusions aboutsample data by analyzing the corresponding population.TrueFalse5.A population is a larger data set than its corresponding sample.TrueFalse6.Population parameters are used to estimate corresponding sample statistics.TrueFalse7.Typically, it is possible to examine every member of the population.TrueFalse8.Cross-sectional data contain values of a characteristic of one subject collected over time.TrueFalse9.Time series data contain values of a characteristic of a subject over time.TrueFalse10.Sampling is often necessary due to the potential cost and time of gathering population data.TrueFalse
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 2 preview image
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 3 preview image11.Sampling allows researchers to draw conclusions about thepopulation.TrueFalse12.A qualitative variable assumes meaningful numerical values.TrueFalse13.Both discrete and continuous variables may assume an uncountable number of values.TrueFalse14.A discrete variablecannot assume an infinite number of values.TrueFalse15.A continuous variable assumes any value from an interval (or collection of intervals).TrueFalse16.A professor's gender (male, female) as well as rank (assistant,associate, full) represent ordinaldata.TrueFalse17.A professor's rank (assistant, associate, and full), as well as salary, represent ordinal data.TrueFalse18.Many people believe that statistics has no use in real life.TrueFalse19.The weather forecast cannot be based on only the weather for the last three days.TrueFalse20.Data and data interpretation do not show up in every facet of life.TrueFalse21.A population is defined as allpossible subjects of a specific group.TrueFalse22.Researchers use sample results in an attempt to estimate an unknown population statistic.TrueFalse
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 4 preview image23.The recorded body temperature of patients in the group of patients underresearch study is anexample of time series data.TrueFalse24.Body weight is an example of a discrete variable.TrueFalse25.The mathematical operation of addition can be performed on nominal data.TrueFalse26.A ZIP code is an example of quantitative data.TrueFalse27.Ordinal scale reflects a stronger level of measurement than the nominal scale.TrueFalse28.All mathematical operations can be performed on ratio-scaled data.TrueFalse29.A respondent to a survey indicates that she drives a Nissan Pathfinder. This is an example ofqualitative data.TrueFalse30.The zero point of an interval scale reflects a complete absence of what is being measured.TrueFalse31.Nominal and interval scales are used for qualitative variables.TrueFalse32.The study of statistics can be defined asA.the language of data.B.the art and science of getting information from data.C.the study ofcollecting, analyzing, presenting, and interpreting data.D.All of these choices are correct.
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 5 preview image33.When reading published statistics (numerical facts), you shouldA.never believe what you read, becauseall statistics are lies.B.onlybelieve 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 twobranches of the study of statistics are generally referred to asA.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 toA.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 thedata.D.both cost prohibitions on data collection and the infeasibility of collecting data on the entirepopulation.36.The teachers’ union in California wants to know the average salary for high school teachersthroughout the country. What isthe teachers’ union presumably planning to calculate?A.Sample statisticB.Sample parameterC.Population statisticD.Population parameter37.A population consists ofA.all items of interest in a sample.B.a subject ofinterest 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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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 6 preview image38.In inferential statistics, we calculate statistics of sample data toA.estimate unknown populationparameters.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 YorkB.Teachers of a high school and members of the parent-teacher groupC.Fans at a concert who purchase T-shirts, and fans at a concert who purchase sodaD.Freshmen at St. Joseph’s University and basketball players at St. Joseph’s University40.Which of the following is an example of cross-sectional data?A.GDP of the United States from 1990-2010B.Daily price of DuPont stock during the first quarterC.Quarterly housing starts collected over the last 60 yearsD.Results of market research testing consumer preferences for soda41.Which of the following is an example of time series data?A.The sale prices of townhouses sold last yearB.Quarterly housing starts collected over the last 60 yearsC.Results of market research testing consumer preferences for sodaD.Starting salaries of recent business graduates at Penn State University42.The estimation of which of thefollowing requires sampling?A.U.S. unemployment rateB.Total rainfall in Phoenix, Arizona, in 2010C.The Cleveland Indians’ hitting percentage in 2010D.The average SAT score of incoming freshmen at a university
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 7 preview image43.A companywants to estimate the mean price of oil over the past 10 years. What kind of datadoes the company need?A.Time series dataB.Inferential statisticsC.Cross-sectional dataD.Descriptive statistics44.For which of thefollowing population parameters is sampling not necessary?A.The average height of NBA playersB.The average life of light bulbs produced by a manufacturerC.The average content of cereal boxes produced by a manufacturerD.Thepercentage of the U.S. public school teachers who support Democrats45.Sampling is used heavily in manufacturing and service settings to ensure high-quality products. Inwhich of the following areas would sampling be inappropriate?A.Computer assemblyB.Custom cabinet makingC.Cell phone manufacturingD.Technical support by phone46.Which of the following are examples of cross-sectional data?A.The test scores of students in a classB.The currentaverage prices of regular gasoline in different statesC.The sales prices of single-family homes sold last month in CaliforniaD.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 listedon the New York Stock Exchange. This data set isbestdescribed asA.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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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 8 preview image48.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 moreimportant 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 ofresearch.49.Which of the following variables isqualitative?A.HeightB.GenderC.WeightD.Temperature50.Which of the following variables is quantitative?A.GenderB.TemperatureC.Marital statusD.Religious affiliation51.Which of the following is aquantitative variable?A.House ageB.House sizeC.House priceD.All of these choices are correct.52.San Francisco 49ers’ linebacker Patrick Willis won the Defensive Rookie of the Year Award in2007 with a total of 174tackles. Tackles are measured on what kind of a scale? Is a variablemeasuring the number of tackles considered continuous or discrete?A.Ratio scale; discreteB.Interval scale; discreteC.Ratio scale; continuousD.Interval scale; continuous
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 9 preview image53.Which of the following variables is not continuous?A.Height of NBA playersB.Time of a flight between Atlanta and ChicagoC.Average temperature in the month of July in OrlandoD.The number of obtained heads when a faircoin is tossed 20 times54.The ordinal scale of data measurement isA.less sophisticated than the nominal scale.B.more sophisticated than the interval scale.C.more sophisticated than the nominal scale.D.as equallysophisticated as the nominal scale.55.The interval scale of data measurement isA.less sophisticated than the ratio scale.B.more sophisticated than the ratio scale.C.less sophisticated than the ordinal scale.D.equallysophisticated 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 anincrease in the minimum wage would cause the firm to decrease capital spending. Possibleresponses to the survey question were: "Yes," "No," or "Don’t Know." This data isbestclassifiedasA.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 DowJones Industrial Average?A.RatioscaleB.Ordinal scaleC.Interval scaleD.Nominal scale
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 10 preview image58.An analyst collects data on the weekly closing price of gold throughout a year. The scale of thisdata isA.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 ofwhich scale of measurement?A.Ratio scaleB.Ordinal scaleC.Interval scaleD.Nominal scale60.TheFahrenheit 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 toone ofthe following categories: Excellent, Good, Average, Below Average, and Poor. The measurementscale is a(n)A.ratio scale.B.ordinal scale.C.interval scale.D.nominal scale.62.What is the scale of measurement of thedistance between any two locations?A.Ratio scaleB.Ordinal scaleC.Interval scaleD.Nominal scale
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 11 preview image63.Which scales of data measurement are associated with quantitative data?A.Interval and ratioB.Ratio and nominalC.Ordinal and intervalD.Nominal and ordinal64.Which data scales of measurement are associated with qualitative data?A.Interval and ratioB.Ratio and nominalC.Ordinal and intervalD.Nominal and ordinal65.The datarepresents the stock price for Google at the end of the past four quarters. Which of thefollowing types of data best describe these values?A.Cross-sectionalB.NominalC.Time seriesD.Ordinal66.Your business statistics classhad a test last week. The average score for the class is an exampleofA.secondary dataB.qualitative dataC.descriptive statisticsD.inferential statistics67.A sample statistic is an estimate ofA.populationparameter.B.population statistic.C.sample parameter.D.descriptive statistic.
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 12 preview image68.A ___________ represents all possible subjects of interest.A.sampleB.populationC.statisticD.parameter69.A major portion of______________ is concerned with the problem of estimating populationparameters or testing hypothesis about such parameters.A.descriptive statisticsB.population statisticsC.inferential statisticsD.business statistics70.Data that describe a characteristic about a sample is known as aA.population.B.survey.C.parameter.D.statistic.71.When a characteristic of interest differs among various observations, then it can be termed aA.parameter.B.variable.C.data.D.information.72.A(n) ____________ variable is characterized by infinitely uncountable values and can take anyvalue within interval.A.discreteB.infiniteC.continuousD.quantitative
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 13 preview image73.Differences between categories are meaningless with _________ data.A.ordinalB.intervalC.ratioD.continuous74.Which of the following scales represents the strongest level of measurement?A.OrdinalB.NominalC.RatioD.Interval75.Which of the following scales represents the less sophisticated level of measurement?A.OrdinalB.NominalC.RatioD.Interval76.The values of data on a(n)__________ scale can be categorized and ranked.A.ordinalB.nominalC.ratioD.interval77.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 addressB.Google’s closing stock price todayC.Your genderD.Your Social Security number
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 14 preview image79.Which of the following is an example of qualitative data?A.Today’s high temperatureB.The class average of last testC.The amount of time you spent for your homeworkD.Your last name80.Arespondent of a survey is asked whether the Philadelphia Flyers’ performance in the last gamewas excellent, good, fair, or poor. The person indicates that the performance was "good." This isan example ofA.nominal dataB.ordinal dataC.interval dataD.ratio data81.Philadelphia experienced a record amount of rainfall in August of 2011. During the last week ofthe month, the city received additional rain from a hurricane. Becauseglobal warming is thought tocause extremeweather patterns, one conclusion that could be drawn is that these patterns areevidence of global warming. What is wrong with this conclusion?
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 15 preview image82.Administrators have concluded that the SAT exam results for 2011 show a distinctchange instudent capabilities when compared with the year 1991. In 1991 the SAT exam included onlymultiple choice sections and was later redesigned. What is wrong with this conclusion?83.A university is interested in tracking thesuccess of its graduates by measuring the length of eachgraduate’s job search before getting a position in his or her chosen field. How would you definethe appropriate population?
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Business Statistics: Communicating with Numbers 2nd Edition Test Bank - Page 16 preview image84.We would like to determine whether there is adifference between the height of a college team ofbasketball players at the Ohio State University and the height of the overall student body. Identifythe two populations in this study.85.In each of the followingstatements, determine whether the branch of statistics is best classifiedas descriptive statistics or inferential statistics. The average of a data set is equal to 35.7. Theminimum value of a data set is 78, and the maximum value is 146. Because the average age in asample is 23, it is likely that the average age in the population is about 23. Because the values inthe sample are so widely dispersed, the spread of the population must be high.
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