Skip to content
Exam Guides

Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition

With Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition, you'll have everything you need to boost your confidence and ace your test.

Preview 16 of 949 pages

See the first 16 pages exactly as they appear in the document.

  1. Page 1
    Read page 1 as text

    T EST B ANK J AMES B ALDONE Birmingham Southern College S TATISTICS FOR M ANAGERS U SING M ICROSOFT ® E XCEL ® N INTH E DITION David M. Levine Department of Information Systems and Statistics Zicklin School of Business, Baruch College, City University of New York David F. Stephan Two Bridges Instructional Technology Kathryn A. Szabat Department of Business Systems and Analytics School of Business, La Salle University

  2. Page 2
  3. Page 3
    Read page 3 as text

    iii CONTENTS Getting Started: Important Things to Learn First .................................................................. 0-1 Chapter 1: Defining and Collecting Data............................................................................... 1-1 Chapter 2: Organizing and Visualizing Variables ................................................................. 2-1 Chapter 3: Numerical Descriptive Measures ......................................................................... 3-1 Chapter 4: Basic Probability .................................................................................................. 4-1 Chapter 5: Discrete Probability Distributions ........................................................................ 5-1 Chapter 6: The Normal Distribution and Other Continuous Distributions ............................ 6-1 Chapter 7: Sampling Distributions......................................................................................... 7-1 Chapter 8: Confidence Interval Estimation............................................................................ 8-1 Chapter 9: Fundamentals of Hypothesis Testing: One-Sample Tests ................................... 9-1 Chapter 10: Two-Sample Tests............................................................................................ 10-1 Chapter 11: Analysis of Variance ........................................................................................ 11-1 Chapter 12: Chi-Square and Nonparametric Tests .............................................................. 12-1 Chapter 13: Simple Linear Regression ................................................................................ 13-1 Chapter 14: Introduction to Multiple Regression ................................................................ 14-1 Chapter 15: Multiple Regression Model Building ............................................................... 15-1 Chapter 16: Time-Series Forecasting ................................................................................... 16-1 Chapter 17: Business Analytics ........................................................................................... 17-1 Chapter 18: A Roadmap for Analyzing Data ....................................................................... 18-1 Chapter 19: Statistical Applications in Quality Management (ONLINE) ........................... 19-1 Chapter 20: Decision Making (ONLINE)............................................................................ 20-1

  4. Page 4
  5. Page 5
    Read page 5 as text

    0-1 Getting Started: Important Things to Learn First 1. The process of using data collected from a small group to reach conclusions about a large group is called a) statistical inference. b) DCOVA framework. c) operational definition. d) descriptive statistics. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: inferential statistics 2. Those methods involving the collection, presentation, and characterization of a set of data in order to properly describe the various features of that set of data are called a) statistical inference. b) DCOVA framework. c) operational definition. d) descriptive statistics. ANSWER: d TYPE: MC DIFFICULTY: Easy KEYWORDS: descriptive statistics 3. The collection and summarization of the socioeconomic and physical characteristics of the employees of a particular firm are examples of a) inferential statistics. b) descriptive statistics. c) operational definition. d) DCOVA framework. ANSWER: b TYPE: MC DIFFICULTY: Easy KEYWORDS: descriptive statistics 4. The estimation of the population average family expenditure on food based on the sample average expenditure of 1,000 families is an example of a) inferential statistics. b) descriptive statistics. c) DCOVA framework. d) operational definition. ANSWER: a

  6. Page 6
    Read page 6 as text

    0-2 Getting Started: Important Things to Learn First TYPE: MC DIFFICULTY: Easy KEYWORDS: inferential statistics 5. Which of the following is not an element of descriptive statistical problems? a) An inference made about the population based on the sample. b) The population or sample of interest. c) Tables, graphs, or numerical summary tools. d) Identification of patterns in the data. ANSWER: a TYPE: MC DIFFICULTY: Moderate KEYWORDS: descriptive statistics 6. A study is under way in Yosemite National Forest to determine the adult height of American pine trees. Specifically, the study is attempting to determine what factors aid a tree in reaching heights greater than 60 feet tall. It is estimated that the forest contains 25,000 adult American pines. The study involves collecting heights from 250 randomly selected adult American pine trees and analyzing the results. Identify the variable of interest in the study. a) The age of an American pine tree in Yosemite National Forest. b) The height of an American pine tree in Yosemite National Forest. c) The number of American pine trees in Yosemite National Forest. d) The species of trees in Yosemite National Forest. ANSWER: b TYPE: MC DIFFICULTY: Easy KEYWORDS: variable 7. Most analysts focus on the cost of tuition as the way to measure the cost of a college education. But incidentals, such as textbook costs, are rarely considered. A researcher at Drummand University wishes to estimate the textbook costs of first-year students at Drummand. To do so, she monitored the textbook cost of 250 first-year students and found that their average textbook cost was $600 per semester. Identify the variable of interest to the researcher. a) The textbook cost of first-year Drummand University students. b) The year in school of Drummand University students. c) The age of Drummand University students. d) The cost of incidental expenses of Drummand University students. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: variable

  7. Page 7
    Read page 7 as text

    Getting Started: Important Things to Learn First 0-3 8. True or False: Problems may arise when statistically unsophisticated users who do not understand the assumptions behind the statistical procedures or their limitations are misled by results obtained from computer software. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: statistical package 9. True or False: Managers need an understanding of statistics to be able to present and describe information accurately, draw conclusions about large populations based on small samples, improve processes, and make reliable forecasts. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: reasons for learning statistics 10. True or False: A professor computed the sample average exam score of 20 students and used it to estimate the average exam score of the 1,500 students taking the exam. This is an example of inferential statistics. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: descriptive statistics, inferential statistics 11. True or False: Using the number of registered voters who turned out to vote for the primary in Iowa to predict the number of registered voters who will turn out to vote in Vermont’s primary is an example of descriptive statistics. ANSWER: False TYPE: TF DIFFICULTY: Easy KEYWORDS: descriptive statistics, inferential statistics 12. True or False: Compiling the number of registered voters who turned out to vote for the primary in Iowa is an example of descriptive statistics. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: descriptive statistics, inferential statistics

  8. Page 8
    Read page 8 as text

    0-4 Getting Started: Important Things to Learn First 13. The Human Resources Director of a large corporation wishes to develop an employee benefit package and decides to select 500 employees from a list of all (N = 40,000)workers in order to study their preferences for the various components of a potential package. In this study, methods involving the collection, presentation, and characterization of the data are called _______. ANSWER: descriptive statistics/methods TYPE: FI DIFFICULTY: Easy KEYWORDS: descriptive statistics 14. The Human Resources Director of a large corporation wishes to develop an employee benefit package and decides to select 500 employees from a list of all (N = 40,000)workers in order to study their preferences for the various components of a potential package. In this study, methods that result in decisions concerning population characteristics based only on the sample results are called _______. ANSWER: inferential statistics/methods TYPE: FI DIFFICULTY: Easy KEYWORDS: inferential statistics 15. The oranges grown in corporate farms in an agricultural state were damaged by some unknown fungi a few years ago. Suppose the manager of a large farm wanted to study the impact of the fungi on the orange crops on a daily basis over a 6-week period. On each day a random sample of orange trees was selected from within a random sample of acres. The daily average number of damaged oranges per tree and the proportion of trees having damaged oranges were calculated. In this study, drawing conclusions on any one day about the true population characteristics based on information obtained from the sample is called _______. ANSWER: inferential statistics/methods TYPE: FI DIFFICULTY: Moderate KEYWORDS: inferential statistics 16. The oranges grown in corporate farms in an agricultural state were damaged by some unknown fungi a few years ago. Suppose the manager of a large farm wanted to study the impact of the fungi on the orange crops on a daily basis over a 6-week period. On each day a random sample of orange trees was selected from within a random sample of acres. The daily average number of damaged oranges per tree and the proportion of trees having damaged oranges were calculated. In this study, the presentation and characterization of the two main measures calculated each day (i.e., average number of damaged oranges per tree and proportion of trees having damaged oranges) is called _______ . ANSWER: descriptive statistics/methods TYPE: FI DIFFICULTY: Moderate KEYWORDS: descriptive statistics

  9. Page 9
    Read page 9 as text

    Getting Started: Important Things to Learn First 0-5 17. The Commissioner of Health in New York State wanted to study malpractice litigation in New York. A sample of 31 thousand medical records was drawn from a population of 2.7 million patients who were discharged during 2010. Using the information obtained from the sample to predict population characteristics with respect to malpractice litigation is an example of _______. ANSWER: inferential statistics TYPE: FI DIFFICULTY: Moderate KEYWORDS: inferential statistics 18. The Commissioner of Health in New York State wanted to study malpractice litigation in New York. A sample of 31 thousand medical records was drawn from a population of 2.7 million patients who were discharged during 2010. The collection, presentation, and characterization of the data from patient medical records are examples of _______. ANSWER: descriptive statistics/methods TYPE: FI DIFFICULTY: Easy KEYWORDS: descriptive statistics 19. True or False: Business analytics combine “traditional” statistical methods with methods and techniques from management science and information systems to form an interdisciplinary tool that supports fact-based management decision making. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: business analytics 20. Which of the following is not true about business analytics? a) It enables you to use statistical methods to analyze and explore data to uncover unforeseen relationships. b) It enables you to use management science methods to develop optimization models that impact an organization’s strategy, planning, and operations. c) It enables you to use complex mathematics to replace the need for organizational decision making and problem solving. d) It enables you to use information systems methods to collect and process data sets of all sizes. ANSWER: c TYPE: MC DIFFICULTY: Moderate KEYWORDS: business analytics

  10. Page 10
    Read page 10 as text

    0-6 Getting Started: Important Things to Learn First 21. True or False: “Big data” is a concrete concept with a precise operational definition. ANSWER: False TYPE: TF DIFFICULTY: Easy KEYWORDS: big data 22. True or False: “Big data” are data being collected in huge volumes and at very fast rates, and they typically arrive in a variety of forms, organized and unorganized. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: big data 23. True or False: In the current data-driven environment of business, the decisions you make will be increasingly based on gut or intuition supported by personal experience. ANSWER: False TYPE: TF DIFFICULTY: Easy KEYWORDS: business analytics 24. True or False: The D in the DCOVA framework stands for “data”. ANSWER: False TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework 25. True or False: The D in the DCOVA framework stands for “define”. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework 26. True or False: The C in the DCOVA framework stands for “categorize”. ANSWER: False TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework 27. True or False: The C in the DCOVA framework stands for “collect”. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework

  11. Page 11
    Read page 11 as text

    Getting Started: Important Things to Learn First 0-7 28. True or False: The O in the DCOVA framework stands for “operationalize”. ANSWER: False TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework 29. True or False: The O in the DCOVA framework stands for “organize”. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework 30. True or False: The V in the DCOVA framework stands for “verify”. ANSWER: False TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework 31. True or False: The V in the DCOVA framework stands for “visualize”. ANSWER: True TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework 32. True or False: The A in the DCOVA framework stands for “apply”. ANSWER: False TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework 33. True or False: The V in the DCOVA framework stands for “value”. ANSWER: False TYPE: TF DIFFICULTY: Easy KEYWORDS: DCOVA framework 34. Which of the following is not an attribute of big data? a) Variegated b) Velocity c) Volume d) Variety ANSWER: a

  12. Page 12
    Read page 12 as text

    0-8 Getting Started: Important Things to Learn First TYPE: TF DIFFICULTY: Easy KEYWORDS: business analytics 35. True or False: If rising temperatures are followed immediately by an increase in crime in urban areas, we would attribute the two events to be an instance of logical causality. ANSWER: False TYPE: TF DIFFICULTY: Moderate KEYWORDS: Starting points for learning statistics, page 6 text 36. An online marketing system that uses customer demand to adjust its item or service pricing is using ________ ________ in its strategy. ANSWER: dynamic pricing TYPE: FI DIFFICULTY: Moderate KEYWORDS: flexibility, demand, page 1 text 37. Using software, you perform calculations more easily than by hand. This means which of the following: a) Using software is a guarantee you will not produce inappropriate solutions b) Memorization of software commands is necessary to using software competently c) Using the software while understanding the concepts that give the results is more important than having advanced arithmetic skills. d) Being able to construct statistical software applications from scratch is a necessary skill. ANSWER: c TYPE: MC DIFFICULTY: Moderate KEYWORDS: arithmetic skills, analytical skills 38. The Excel command used to insert a new worksheet into a workbook is ________________ . ANSWER: INSERT on the worksheet tab TYPE: FI DIFFICULTY: Moderate KEYWORDS: EG.4 WORKING WITH a WORKBOOK 39. The Excel command used to display and review formulas is ______________. ANSWER: CTRL + ` (grave accent) TYPE: FI DIFFICULTY: Moderate KEYWORDS: EG.6 REVIEWING WORKSHEETS

  13. Page 13
    Read page 13 as text

    1-1 Chapter 1: Defining and Collecting Data 1. Which of the following is a discrete quantitative (numerical) variable? a) The Dow Jones Industrial average b) The volume of water released from a dam c) The distance you drove yesterday. d) The number of employees of an insurance company ANSWER: d TYPE: MC DIFFICULTY: Easy KEYWORDS: discrete variable, types of data 2. Which of the following is a continuous quantitative (numerical) variable? a) The color of a student’s eyes b) The number of employees of an insurance company c) The amount of milk in a 2-liter carton. d) The number of gallons of milk sold at the local grocery store yesterday ANSWER: c TYPE: MC DIFFICULTY: Easy KEYWORDS: continuous variable, types of data 3. To monitor campus security, the campus police office is taking a survey of the number of students in a parking lot each 30 minutes of a 24-hour period with the goal of determining when patrols of the lot would serve the most students. If X is the number of students in the lot each period, then X is an example of a) a categorical variable. b) a discrete variable. c) a continuous variable. d) a statistic. ANSWER: b TYPE: MC DIFFICULTY: Moderate KEYWORDS: discrete variable, types of data 4. Researchers are concerned that the weight of the average American school child is increasing implying, among other things, that children’s clothing should be manufactured and marketed in larger sizes. If X is the weight of school children sampled in a nationwide study without rounding, then X is an example of a) a categorical variable. b) a discrete variable. c) a continuous variable. d) a table of random numbers.

  14. Page 14
    Read page 14 as text

    1-2 Chapter 1: Defining and Collecting Data ANSWER: c TYPE: MC DIFFICULTY: Moderate KEYWORDS: continuous variable, types of data 5. The classification of student class designation (freshman, sophomore, junior, senior) is an example of a) a categorical variable. b) a discrete variable. c) a continuous variable. d) a table of random numbers. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: categorical variable, types of data 6. The classification of student major (accounting, economics, management, marketing, other) is an example of a) a categorical variable. b) a discrete variable. c) a continuous variable. d) a table of random numbers. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: categorical variable, types of data 7. The chancellor of a major university was concerned about alcohol abuse on her campus and wanted to find out the proportion of students at her university who visited campus bars on the weekend before the final exam week. Her assistant took a random sample of 250 students. The answer on “whether you visited campus bars on the weekend before the final exam week” from students in the sample is an example of __________. a) a categorical variable. b) a discrete variable. c) a continuous variable. d) a table of random numbers. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: categorical variable, types of data

  15. Page 15
    Read page 15 as text

    Chapter 1: Defining and Collecting Data 1-3 SCENARIO 1-1 The manager of the customer service division of a major consumer electronics company is interested in determining whether the customers who have purchased a Blu-ray player made by the company over the past 12 months are satisfied with their products. 8. Referring to Scenario 1-1, the possible responses to the question "How many Blu-ray players made by other manufacturers have you used?" are values from a a) discrete variable. b) continuous variable. c) categorical variable. d) table of random numbers. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: discrete variable, types of data 9. Referring to Scenario 1-1, the possible responses to the question "Are you happy, indifferent, or unhappy with the performance per dollar spent on the Blu-ray player?" are values from a a) discrete numerical variable. b) continuous numerical variable. c) categorical variable. d) table of random numbers. ANSWER: c TYPE: MC DIFFICULTY: Easy KEYWORDS: categorical variable, types of data 10. Referring to Scenario 1-1, the possible responses to the question "What is your annual income rounded to the nearest thousands?" are values from a a) discrete numerical variable. b) continuous numerical variable. c) categorical variable. d) table of random numbers. ANSWER: a TYPE: MC DIFFICULTY: Difficult KEYWORDS: discrete variable, types of data EXPLANATION: Even though money is usually considered as a continuous variable, it should be considered as a discrete variable when rounded to the nearest thousands.

  16. Page 16
    Read page 16 as text

    1-4 Chapter 1: Defining and Collecting Data 11. Referring to Scenario 1-1, the possible responses to the question "How much time do you use the Blu-ray player every week on the average?" are values from a a) discrete numerical variable. b) continuous numerical variable. c) categorical variable. d) table of random numbers. ANSWER: b TYPE: MC DIFFICULTY: Easy KEYWORDS: continuous variable, types of data 12. Referring to Scenario 1-1, the possible responses to the question "How many people are there in your household?" are values from a a) discrete numerical variable. b) continuous numerical variable. c) categorical variable. d) table of random numbers. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: discrete variable, types of data 13. Referring to Scenario 1-1, the possible responses to the question "How would you rate the quality of your purchase experience with 1 = excellent, 2 = good, 3 = decent, 4 = poor, 5 = terrible?" are values from a a) discrete numerical variable. b) continuous numerical variable. c) categorical variable. d) table of random numbers. ANSWER: c TYPE: MC DIFFICULTY: Easy KEYWORDS: categorical variable, types of data 14. Referring to Scenario 1-1, the possible responses to the question "What brand of Blu-ray player did you purchase?" are values from a a) discrete numerical variable. b) continuous numerical variable. c) categorical variable. d) table of random numbers. ANSWER: c TYPE: MC DIFFICULTY: Easy KEYWORDS: categorical variable, types of data

933 more pages in the full document

Unlock it once and it stays in your library, ready to chat with or turn into flashcards.

Unlock the full document

More Statistics study materials

See all

Study this document with CramX

Once it is in your library, every tool can work from it.