Test Bank for Business Statistics, 3rd Edition

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TESTBANKSERINAALHADDADRollins CollegeBUSINESSSTATISTICSTHIRDEDITIONRobert A. Donnelly

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Table of ContentsChapter 1: An Introduction to Business Statistics………………………………………………1-1Chapter 2: Displaying Descriptive Statistics……………………………………………………2-1Chapter 3: Calculating DescriptiveStatistics………………………………………...…………3-1Chapter 4: Introduction to Probabilities…………………………………………...……………4-1Chapter 5: Discrete Probability Distributions…………………………………………..………5-1Chapter 6: Continuous Probability Distributions……………………………………………….6-1Chapter 7: Sampling and Sampling Distributions………………………………………………7-1Chapter 8: Confidence Intervals………………………………………………………………...8-1Chapter 9: Hypothesis Testing for a Single Population………………………………………...9-1Chapter 10: Hypothesis Tests Comparing Two Populations…………………………………..10-1Chapter 11: Analysis of Variance (ANOVA) Procedures……………………………………..11-1Chapter 12: Chi-Square Tests………………………………………………………………….12-1Chapter 13: Hypothesis Tests for the Population Variance……………………………………13-1Chapter 14: Correlation and Simple Linear Regression……………………………………….14-1Chapter 15: Multiple Regression and Model Building………………………………………...15-1Chapter 16: Forecasting………………………………………………………………………..16-1Chapter 17: Decision Analysis………………………………………………………………...17-1Chapter 18: Nonparametric Statistics………………………………………………………….18-1

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1-1Business Statistics (Donnelly)Chapter 1An Introduction to Business Statistics1) Statistics is the mathematical science that deals with the collection, analysis, and presentationof data–data that can then be used as a basis for inference and induction.Answer: TRUEDiff: 1Keywords: introduction to statisticsObjective: 1.1.12) Business statistics are statistics applied to the business world in an effort to improve people'sdecision making in fields such as marketing research, operations, finance, and advertising.Answer: TRUEDiff: 1Keywords: introduction to statisticsObjective: 1.1.13) Information is the basic foundation for the field of statistics and can be defined as the valueassigned to a specific observation or measurement.Answer: FALSEDiff: 1Keywords: dataObjective: 1.2.14) One of the major reasons to use statistics is to transform data into information.Answer: TRUEDiff: 1Keywords: introduction to statisticsObjective: 1.2.15) An employee records the number of customers that arrive at a retail store today. This is anexample of collecting information.Answer: FALSEDiff: 2Keywords: dataObjective: 1.2.16) Primary data is data collected by the person or organization that eventually uses the data.Answer: TRUEDiff: 1Keywords: primary dataObjective: 1.2.1

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1-2Chapter 17) Asking customers at the shopping mall about their voting intentions in the upcoming politicalelection is an example of secondary data.Answer: FALSEDiff: 1Keywords: primary dataObjective: 1.2.18) Analyzing unemployment data from the Bureau of Labor Statistics is an example of usingsecondary data.Answer: TRUEDiff: 1Keywords: secondary dataObjective: 1.2.19) A hotel employee asks customers who are checking out to rate their satisfaction on a scale of1-10. This is an example of collecting primary data.Answer: TRUEDiff: 1Keywords: primary dataObjective: 1.2.110) Analyzing snowfall amounts in New York over the past 100 years to help predict futureweather patterns is an example of using primary data.Answer: FALSEDiff: 1Keywords: secondary dataObjective: 1.2.111) Bias can occur in a survey when a question is stated in a way that encourages or leads arespondent to a particular answer.Answer: TRUEDiff: 1Keywords: survey, biasObjective: 1.2.112) A restaurant manager randomly selects tables at which customers have just been seated andrecords the amount of time it takes for the wait staff to greet these customers. This is an exampleof an experiment being used to collect data.Answer: FALSEDiff: 1Keywords: direct observationObjective: 1.2.1

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An Introduction to Business Statistics1-313) A marketing research employee randomly selects adults in a shopping mall and asks themwhat type of car that they drive. This is an example of using direct observation to collect data.Answer: FALSEDiff: 1Keywords: surveysObjective: 1.2.114) A manager of an electronics store would like to investigate the impact that price has on thedemand for laptop computers. Each week, the price of a Dell laptop is adjusted and the demandfor each week is recorded. This is an example of an experiment being used to collect data.Answer: TRUEDiff: 1Keywords: experimentsObjective: 1.2.115) To help ensure good questionnaire design, it is recommended that a survey is tested on asmall group of respondents before releasing it to the actual participants.Answer: TRUEDiff: 1Keywords: surveysObjective: 1.2.116) It is recommended that personal demographic questions be placed at the beginning of thequestionnaire because respondents find these questions easy to answer.Answer: FALSEDiff: 2Keywords: surveysObjective: 1.2.117) Interval data deals strictly with qualitative data assigned to predetermined categories.Answer: FALSEDiff: 1Keywords: nominal dataObjective: 1.2.118) Education level is an example of nominal data.Answer: TRUEDiff: 1Keywords: nominal dataObjective: 1.2.1

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1-4Chapter 119) Nominal data has all the features of interval data with the added benefit of having a true zeropoint.Answer: FALSEDiff: 1Keywords: ratio dataObjective: 1.2.120) The interval measurement level is considered quantitative data.Answer: TRUEDiff: 1Keywords: interval dataObjective: 1.2.121) The ratio measurement level is considered qualitative data.Answer: FALSEDiff: 1Keywords: ratio dataObjective: 1.2.122) The number of pages in your business statistics textbook is an example of quantitative data.Answer: TRUEDiff: 1Keywords: quantitative dataObjective: 1.2.123) Your cell phone number is an example of quantitative data.Answer: FALSEDiff: 2Keywords: qualitative dataObjective: 1.2.124) A respondent to a survey indicates that she drives a Ford Taurus. This is an example ofqualitative data.Answer: TRUEDiff: 1Keywords: qualitative dataObjective: 1.2.125) A respondent to a survey indicates that he has lived in his current residence for three years.This is an example of qualitative data.Answer: FALSEDiff: 1Keywords: qualitative dataObjective: 1.2.1

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An Introduction to Business Statistics1-526) The mathematical operation of addition can be performed on nominal data.Answer: FALSEDiff: 2Keywords: nominal dataObjective: 1.2.127) The mathematical operation of multiplication can be performed on interval data.Answer: FALSEDiff: 2Keywords: interval dataObjective: 1.2.128) All mathematical operations can be performed on ratio data.Answer: TRUEDiff: 2Keywords: ratio dataObjective: 1.2.129) The purpose of inferential statistics is to summarize or display data.Answer: FALSEDiff: 1Keywords: descriptive statisticsObjective: 1.3.130) The purpose of inferential statistics is to make claims or conclusions about a populationbased on a sample.Answer: TRUEDiff: 1Keywords: inferential statisticsObjective: 1.3.131) A limitation of descriptive statistics is that, by summarizing large quantities of data, you loseinformation.Answer: TRUEDiff: 1Keywords: descriptive statisticsObjective: 1.3.132) Predicting election results by asking voters their intentions is an example of descriptivestatistics.Answer: FALSEDiff: 1Keywords: inferential statisticsObjective: 1.3.1

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1-6Chapter 133) Deciding that a process that fills bottles with soda is functioning properly by checking theweights for a sample of bottles is an example of inferential statistics.Answer: TRUEDiff: 1Keywords: inferential statisticsObjective: 1.3.134) Calculating the average time callers wait on the phone for technical support is an example ofinferential statistics.Answer: FALSEDiff: 1Keywords: descriptive statisticsObjective: 1.3.135) Determining the proportion of customers who have credit scores greater than 700 is anexample of descriptive statistics.Answer: TRUEDiff: 1Keywords: descriptive statisticsObjective: 1.3.136) An unbiased sample is a sample that does not represent the intended population andcan lead to distorted findings. Unbiased sampling can occur either intentionally orunintentionally.Answer: FALSEDiff: 2Keywords: biased sampleObjective: 1.4.137) Statistics can be misused by making differences seem greater or lesser by adjusting the scaleon graphs.Answer: TRUEDiff: 1Keywords: misusing statisticsObjective: 1.4.138) Collecting data about the number of television viewers for the Summer Olympics is anexample of using statistics in the field of ________.A) human resourcesB) advertisingC) operationsD) financeAnswer: BDiff: 1Keywords: uses of business statisticsObjective: 1.1.1

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An Introduction to Business Statistics1-739) Using income data to determine the credit worthiness of a consumer who wishes to purchasea new car is an example of using statistics in the field of ________.A) marketing researchB) advertisingC) operationsD) financeAnswer: DDiff: 1Keywords: uses of business statisticsObjective: 1.1.140) Gathering information from potential customers in an effort to determine their preferences isan example of using statistics in the field of ________.A) marketing researchB) advertisingC) operationsD) financeAnswer: ADiff: 1Keywords: uses of business statisticsObjective: 1.1.141) Using quality control techniques to test the salt content of pretzels before they are packagedfor the consumer is an example of using statistics in the field of ________.A) marketing researchB) advertisingC) operationsD) financeAnswer: CDiff: 1Keywords: uses of business statisticsObjective: 1.1.142) ________ is (are) derived from facts for the purpose of making decisions.A) DataB) InformationC) StatisticsD) SamplesAnswer: BDiff: 1Keywords: uses of business statisticsObjective: 1.1.1

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1-8Chapter 143) The main drawback to using secondary data is that _______________________.A) it may be expensive to obtain the dataB) the subjects of interest need to be directly observed to collect the dataC) the subjects of interest are paid to provide the dataD) you have no control over how the data were collectedAnswer: DDiff: 1Keywords: sources of dataObjective: 1.2.144) A method of gathering data when subjects are exposed to certain treatments and the data ofinterest is recorded is known as ____________.A) direct observationB) focus groupsC) experimentsD) surveysAnswer: CDiff: 1Keywords: experimentsObjective: 1.2.145) A method of gathering data when people are asked a series of questions that can beadministered by email, via the web, face-to-face or over the telephone, is known as _________.A) direct observationB) focus groupsC) experimentsD) surveysAnswer: DDiff: 1Keywords: surveysObjective: 1.2.146) A method of gathering data while the subjects of interest are in their natural environment,often unaware they are being watched, is known as ____________.A) direct observationB) focus groupsC) experimentsD) surveysAnswer: ADiff: 1Keywords: direct observationObjective: 1.2.1

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An Introduction to Business Statistics1-947) A method of gathering data when individuals are paid to discuss their attitudes towardsproducts or services in a group setting controlled by a moderator is known as ____________.A) direct observationB) focus groupsC) experimentsD) surveysAnswer: BDiff: 1Keywords: focus groupsObjective: 1.2.148) A telemarketer calls individuals at home over the phone and ask them the likelihood that theywill purchase a timeshare property over the next 12 months. This method of gathering data isknown as ____________.A) direct observationB) focus groupsC) experimentsD) surveysAnswer: DDiff: 1Keywords: surveysObjective: 1.2.149) A Bank of America employee records the amount of time that customers spend using theATM machine at her branch. This method of gathering data is known as _______________.A) direct observationB) focus groupsC) experimentsD) surveysAnswer: ADiff: 1Keywords: direct observationObjective: 1.2.150) The manager at the local Ruby Tuesday's restaurant wanted to investigate the effect of musicon the average revenue per customer. Each night for one month, fast-paced music was played.The following month, slow-paced music was played every night. The average revenue percustomer for each month was compared. This method of gathering data is known as __________.A) direct observationB) focus groupsC) experimentsD) surveysAnswer: CDiff: 1Keywords: experimentsObjective: 1.2.1

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1-10Chapter 151) A marketing manager for a textbook publisher meets with a group of several students whoare paid to discuss what they like and dislike about their textbooks. This method of gatheringdata is known as _____________.A) direct observationB) focus groupsC) experimentsD) surveysAnswer: BDiff: 1Keywords: focus groupsObjective: 1.2.152) ________ data use numerical values to describe something of interest either by measuring itor counting it.A) PrimaryB) SecondaryC) QuantitativeD) QualitativeAnswer: CDiff: 1Keywords: quantitative dataObjective: 1.2.153) ________ data use descriptive terms to measure or classify something of interest.A) PrimaryB) SecondaryC) QuantitativeD) QualitativeAnswer: DDiff: 1Keywords: qualitative dataObjective: 1.2.154) Which of the following is an example of quantitative data?A) the zip code of your home addressB) Apple's closing stock price todayC) your genderD) your telephone numberAnswer: BDiff: 1Keywords: qualitative dataObjective: 1.2.1

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An Introduction to Business Statistics1-1155) Which of the following is an example of qualitative data?A) today's high temperatureB) the class average of your last statistics examC) the amount of time that you studied for your last statistics examD) your last nameAnswer: DDiff: 1Keywords: quantitative dataObjective: 1.2.156) Which levels of measurement are considered quantitative data?A) interval and ratioB) nominal and intervalC) nominal and ratioD) nominal and ordinalAnswer: ADiff: 1Keywords: quantitative dataObjective: 1.2.157) Which levels of measurement are considered qualitative data?A) interval and ratioB) nominal and intervalC) ordinal and ratioD) nominal and ordinalAnswer: DDiff: 1Keywords: qualitative dataObjective: 1.2.158) The number of iPhones sold today at an Apple store is an example of ________ data.A) nominalB) ordinalC) intervalD) ratioAnswer: DDiff: 1Keywords: ratio dataObjective: 1.2.1

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1-12Chapter 159) A respondent of a survey indicates that he is a resident in the state of Ohio. This is anexample of _________ data.A) nominalB) ordinalC) intervalD) ratioAnswer: ADiff: 1Keywords: nominal dataObjective: 1.2.160) The Graduate Management Admission Test (GMAT) is a standardized test used by schoolsto determine the aptitude of individuals who are applying for MBA programs. The range of theGMAT score is 200-800. Brian has recently taken the exam and scored 720. This is an exampleof __________ data.A) nominalB) ordinalC) intervalD) ratioAnswer: CDiff: 1Keywords: interval dataObjective: 1.2.161) In a Major League Baseball game today, the Philadelphia Phillies scored six runs against theNew York Mets. This is an example of _________ data.A) nominalB) ordinalC) intervalD) ratioAnswer: DDiff: 1Keywords: ratio dataObjective: 1.2.162) A respondent of a survey indicates that she is currently in her junior year at the University ofTexas. This is an example of _________ data.A) nominalB) ordinalC) intervalD) ratioAnswer: BDiff: 1Keywords: ordinal dataObjective: 1.2.1

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