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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Document preview page 1

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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.

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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 1 preview imageTESTBANKJAMESBALDONEBirmingham Southern CollegeSTATISTICS FORMANAGERSUSINGMICROSOFT®EXCEL®NINTHEDITIONDavid M. LevineDepartment of Information Systems and StatisticsZicklin School of Business, Baruch College, City University of New YorkDavid F. StephanTwo Bridges Instructional TechnologyKathryn A. SzabatDepartment of Business Systems and AnalyticsSchool of Business, La Salle University
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 3 preview imageiiiCONTENTSGetting Started: Important Things to Learn First .................................................................. 0-1Chapter 1: Defining and Collecting Data............................................................................... 1-1Chapter 2: Organizing and Visualizing Variables ................................................................. 2-1Chapter 3: Numerical Descriptive Measures ......................................................................... 3-1Chapter 4: Basic Probability .................................................................................................. 4-1Chapter 5: Discrete Probability Distributions........................................................................ 5-1Chapter 6: The Normal Distribution and Other Continuous Distributions............................ 6-1Chapter 7: Sampling Distributions......................................................................................... 7-1Chapter 8: Confidence Interval Estimation............................................................................ 8-1Chapter 9: Fundamentals of Hypothesis Testing: One-Sample Tests ................................... 9-1Chapter 10: Two-Sample Tests............................................................................................ 10-1Chapter 11: Analysis of Variance ........................................................................................ 11-1Chapter 12: Chi-Square and Nonparametric Tests .............................................................. 12-1Chapter 13: Simple Linear Regression ................................................................................ 13-1Chapter 14: Introduction to Multiple Regression ................................................................ 14-1Chapter 15: Multiple Regression Model Building............................................................... 15-1Chapter 16: Time-Series Forecasting ................................................................................... 16-1Chapter 17: Business Analytics ........................................................................................... 17-1Chapter 18: A Roadmap for Analyzing Data....................................................................... 18-1Chapter 19: Statistical Applications in Quality Management (ONLINE) ........................... 19-1Chapter 20: Decision Making (ONLINE)............................................................................ 20-1
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 5 preview image0-1Getting Started: Important Things to Learn First1.The process of using data collected from a small group to reach conclusions about a largegroup is calleda)statistical inference.b)DCOVA framework.c)operational definition.d)descriptive statistics.ANSWER:aTYPE: MC DIFFICULTY: EasyKEYWORDS: inferential statistics2.Those methods involving the collection, presentation, and characterization of a set of datain order to properly describe the various features of that set of data are calleda)statistical inference.b)DCOVA framework.c)operational definition.d)descriptive statistics.ANSWER:dTYPE: MC DIFFICULTY: EasyKEYWORDS: descriptive statistics3.The collection and summarization of the socioeconomic and physical characteristics of theemployees of a particular firm are examples ofa)inferential statistics.b)descriptive statistics.c)operational definition.d)DCOVA framework.ANSWER:bTYPE: MC DIFFICULTY: EasyKEYWORDS: descriptive statistics4.The estimation of the population average family expenditure on food based on the sampleaverage expenditure of 1,000 families is an example ofa)inferential statistics.b)descriptive statistics.c)DCOVA framework.d)operational definition.ANSWER:a
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 6 preview image0-2Getting Started: Important Things to Learn FirstTYPE: MC DIFFICULTY: EasyKEYWORDS: inferential statistics5.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:aTYPE: MC DIFFICULTY: ModerateKEYWORDS: descriptive statistics6.A study is under way in Yosemite National Forest to determine the adult height ofAmerican pine trees. Specifically, the study is attempting to determine what factors aid atree in reaching heights greater than 60 feet tall. It is estimated that the forest contains25,000 adult American pines. The study involves collecting heights from 250 randomlyselected adult American pine trees and analyzing the results. Identify the variable ofinterest 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:bTYPE: MC DIFFICULTY: EasyKEYWORDS: variable7.Most analysts focus on the cost of tuition as the way to measure the cost of a collegeeducation. But incidentals, such as textbook costs, are rarely considered. A researcher atDrummand University wishes to estimate the textbook costs of first-year students atDrummand. To do so, she monitored the textbook cost of 250 first-year students and foundthat their average textbook cost was $600 per semester. Identify the variable of interest tothe 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:aTYPE: MC DIFFICULTY: EasyKEYWORDS: variable
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 7 preview imageGetting Started: Important Things to Learn First0-38.True or False: Problems may arise when statistically unsophisticated users who do notunderstand the assumptions behind the statistical procedures or their limitations are misledby results obtained from computer software.ANSWER:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: statistical package9.True or False: Managers need an understanding of statistics to be able to present anddescribe information accurately, draw conclusions about large populations based on smallsamples, improve processes, and make reliable forecasts.ANSWER:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: reasons for learning statistics10.True or False: A professor computed the sample average exam score of 20 students andused it to estimate the average exam score of the 1,500 students taking the exam. This is anexample of inferential statistics.ANSWER:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: descriptive statistics, inferential statistics11.True or False: Using the number of registered voters who turned out to vote for the primaryin Iowa to predict the number of registered voters who will turn out to vote in Vermont’sprimary is an example of descriptive statistics.ANSWER:FalseTYPE: TF DIFFICULTY: EasyKEYWORDS: descriptive statistics, inferential statistics12.True or False: Compiling the number of registered voters who turned out to vote for theprimary in Iowa is an example of descriptive statistics.ANSWER:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: descriptive statistics, inferential statistics
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 8 preview image0-4Getting Started: Important Things to Learn First13.The Human Resources Director of a large corporation wishes to develop an employeebenefit package and decides to select 500 employees from a list of all (N = 40,000)workersin order to study their preferences for the various components of a potential package. Inthis study, methods involving the collection, presentation, and characterization of the dataare called _______.ANSWER:descriptive statistics/methodsTYPE: FI DIFFICULTY: EasyKEYWORDS: descriptive statistics14.The Human Resources Director of a large corporation wishes to develop an employeebenefit package and decides to select 500 employees from a list of all (N = 40,000)workersin order to study their preferences for the various components of a potential package. Inthis study, methods that result in decisions concerning population characteristics based onlyon the sample results are called _______.ANSWER:inferential statistics/methodsTYPE: FI DIFFICULTY: EasyKEYWORDS: inferential statistics15.The oranges grown in corporate farms in an agricultural state were damaged by some unknownfungi a few years ago. Suppose the manager of a large farm wanted to study the impact of thefungi on the orange crops on a daily basis over a 6-week period. On each day a random sampleof orange trees was selected from within a random sample of acres. The daily average numberof damaged oranges per tree and the proportion of trees having damaged oranges werecalculated. In this study, drawing conclusions on any one day about the true populationcharacteristics based on information obtained from the sample is called _______.ANSWER:inferential statistics/methodsTYPE: FI DIFFICULTY: ModerateKEYWORDS: inferential statistics16.The oranges grown in corporate farms in an agricultural state were damaged by someunknown fungi a few years ago. Suppose the manager of a large farm wanted to study theimpact of the fungi on the orange crops on a daily basis over a 6-week period. On each daya random sample of orange trees was selected from within a random sample of acres. Thedaily average number of damaged oranges per tree and the proportion of trees havingdamaged oranges were calculated. In this study, the presentation and characterization of thetwo main measures calculated each day (i.e., average number of damaged oranges per treeand proportion of trees having damaged oranges) is called _______ .ANSWER:descriptive statistics/methodsTYPE: FI DIFFICULTY: ModerateKEYWORDS: descriptive statistics
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 9 preview imageGetting Started: Important Things to Learn First0-517.The Commissioner of Health in New York State wanted to study malpractice litigation inNew York. A sample of 31 thousand medical records was drawn from a population of 2.7million patients who were discharged during 2010. Using the information obtained fromthe sample to predict population characteristics with respect to malpractice litigation is anexample of _______.ANSWER:inferential statisticsTYPE: FI DIFFICULTY: ModerateKEYWORDS: inferential statistics18.The Commissioner of Health in New York State wanted to study malpractice litigation inNew York. A sample of 31 thousand medical records was drawn from a population of 2.7million patients who were discharged during 2010. The collection, presentation, andcharacterization of the data from patient medical records are examples of _______.ANSWER:descriptive statistics/methodsTYPE: FI DIFFICULTY: EasyKEYWORDS: descriptive statistics19.True or False: Business analytics combine “traditional” statistical methods with methodsand techniques from management science and information systems to form aninterdisciplinary tool that supports fact-based management decision making.ANSWER:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: business analytics20.Which of the following is not true about business analytics?a)It enables you to use statistical methods to analyze and explore data to uncoverunforeseen relationships.b)It enables you to use management science methods to develop optimization modelsthat impact an organization’s strategy, planning, and operations.c)It enables you to use complex mathematics to replace the need for organizationaldecision making and problem solving.d)It enables you to use information systems methods to collect and process data sets ofall sizes.ANSWER:cTYPE: MC DIFFICULTY: ModerateKEYWORDS: business analytics
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 10 preview image0-6Getting Started: Important Things to Learn First21.True or False: “Big data” is a concrete concept with a precise operational definition.ANSWER:FalseTYPE: TF DIFFICULTY: EasyKEYWORDS: big data22.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:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: big data23.True or False: In the current data-driven environment of business, the decisions you makewill be increasingly based on gut or intuition supported by personal experience.ANSWER:FalseTYPE: TF DIFFICULTY: EasyKEYWORDS: business analytics24.True or False: The D in the DCOVA framework stands for “data”.ANSWER:FalseTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework25.True or False: The D in the DCOVA framework stands for “define”.ANSWER:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework26.True or False: The C in the DCOVA framework stands for “categorize”.ANSWER:FalseTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework27.True or False: The C in the DCOVA framework stands for “collect”.ANSWER:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 11 preview imageGetting Started: Important Things to Learn First0-728.True or False: The O in the DCOVA framework stands for “operationalize”.ANSWER:FalseTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework29.True or False: The O in the DCOVA framework stands for “organize”.ANSWER:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework30.True or False: The V in the DCOVA framework stands for “verify”.ANSWER:FalseTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework31.True or False: The V in the DCOVA framework stands for “visualize”.ANSWER:TrueTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework32.True or False: The A in the DCOVA framework stands for “apply”.ANSWER:FalseTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework33.True or False: The V in the DCOVA framework stands for “value”.ANSWER:FalseTYPE: TF DIFFICULTY: EasyKEYWORDS: DCOVA framework34.Which of the following is not an attribute of big data?a)Variegatedb)Velocityc)Volumed)VarietyANSWER:a
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 12 preview image0-8Getting Started: Important Things to Learn FirstTYPE: TF DIFFICULTY: EasyKEYWORDS: business analytics35.True or False: If rising temperatures are followed immediately by an increase in crime inurban areas, we would attribute the two events to be an instance of logical causality.ANSWER:FalseTYPE: TF DIFFICULTY: ModerateKEYWORDS: Starting points for learning statistics, page 6 text36.An online marketing system that uses customer demand to adjust its item or service pricingis using ________ ________ in its strategy.ANSWER:dynamic pricingTYPE: FI DIFFICULTY: ModerateKEYWORDS: flexibility, demand, page 1 text37.Using software, you perform calculations more easily than by hand. This means which ofthe following:a)Using software is a guarantee you will not produce inappropriate solutionsb)Memorization of software commands is necessary to using software competentlyc)Using the software while understanding the concepts that give the results is moreimportant than having advanced arithmetic skills.d)Being able to construct statistical software applications from scratch is a necessaryskill.ANSWER:cTYPE: MC DIFFICULTY: ModerateKEYWORDS: arithmetic skills, analytical skills38.The Excel command used to insert a new worksheet into a workbook is________________ .ANSWER: INSERT on the worksheet tabTYPE: FI DIFFICULTY: ModerateKEYWORDS: EG.4 WORKING WITH a WORKBOOK39.The Excel command used to display and review formulas is ______________.ANSWER:CTRL + ` (grave accent)TYPE: FI DIFFICULTY: ModerateKEYWORDS: EG.6 REVIEWING WORKSHEETS
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 13 preview image1-1Chapter 1: Defining and Collecting Data1.Which of the following is a discrete quantitative (numerical) variable?a)The Dow Jones Industrial averageb)The volume of water released from a damc)The distance you drove yesterday.d)The number of employees of an insurance companyANSWER:dTYPE: MC DIFFICULTY: EasyKEYWORDS: discrete variable, types of data2.Which of the following is a continuous quantitative (numerical) variable?a)The color of a student’s eyesb)The number of employees of an insurance companyc)The amount of milk in a 2-liter carton.d)The number of gallons of milk sold at the local grocery store yesterdayANSWER:cTYPE: MC DIFFICULTY: EasyKEYWORDS: continuous variable, types of data3.To monitor campus security, the campus police office is taking a survey of the number ofstudents in a parking lot each 30 minutes of a 24-hour period with the goal of determiningwhen patrols of the lot would serve the most students. IfXis the number of students in thelot each period, thenXis an example ofa)a categorical variable.b)a discrete variable.c)a continuous variable.d)a statistic.ANSWER:bTYPE: MC DIFFICULTY: ModerateKEYWORDS: discrete variable, types of data4.Researchers are concerned that the weight of the average American school child isincreasing implying, among other things, that children’s clothing should be manufacturedand marketed in larger sizes. IfXis the weight of school children sampled in a nationwidestudy without rounding, thenXis an example ofa)a categorical variable.b)a discrete variable.c)a continuous variable.d)a table of random numbers.
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 14 preview image1-2Chapter 1: Defining and Collecting DataANSWER:cTYPE: MC DIFFICULTY: ModerateKEYWORDS: continuous variable, types of data5.The classification of student class designation (freshman, sophomore, junior, senior) is anexample ofa)a categorical variable.b)a discrete variable.c)a continuous variable.d)a table of random numbers.ANSWER:aTYPE: MC DIFFICULTY: EasyKEYWORDS: categorical variable, types of data6.The classification of student major (accounting, economics, management, marketing, other)is an example ofa)a categorical variable.b)a discrete variable.c)a continuous variable.d)a table of random numbers.ANSWER:aTYPE: MC DIFFICULTY: EasyKEYWORDS: categorical variable, types of data7.The chancellor of a major university was concerned about alcohol abuse on her campus andwanted to find out the proportion of students at her university who visited campus bars onthe weekend before the final exam week. Her assistant took a random sample of 250students. The answer on “whether you visited campus bars on the weekend before the finalexam 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:aTYPE: MC DIFFICULTY: EasyKEYWORDS: categorical variable, types of data
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 15 preview imageChapter 1: Defining and Collecting Data1-3SCENARIO 1-1The manager of the customer service division of a major consumer electronics company isinterested in determining whether the customers who have purchased a Blu-ray player made bythe 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-rayplayers made by other manufacturers have you used?" are values from aa)discrete variable.b)continuous variable.c)categorical variable.d)table of random numbers.ANSWER:aTYPE: MC DIFFICULTY: EasyKEYWORDS: discrete variable, types of data9.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?" arevalues from aa)discrete numerical variable.b)continuous numerical variable.c)categorical variable.d)table of random numbers.ANSWER:cTYPE: MC DIFFICULTY: EasyKEYWORDS: categorical variable, types of data10.Referring to Scenario 1-1, the possible responses to the question "What is your annualincome rounded to the nearest thousands?" are values from aa)discrete numerical variable.b)continuous numerical variable.c)categorical variable.d)table of random numbers.ANSWER:aTYPE: MC DIFFICULTY: DifficultKEYWORDS: discrete variable, types of dataEXPLANATION: Even though money is usually considered as a continuous variable, it shouldbe considered as a discrete variable when rounded to the nearest thousands.
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Test Bank for Statistics for Managers Using Microsoft Excel, 9th Edition - Page 16 preview image1-4Chapter 1: Defining and Collecting Data11.Referring to Scenario 1-1, the possible responses to the question "How much time do youuse the Blu-ray player every week on the average?" are values from aa)discrete numerical variable.b)continuous numerical variable.c)categorical variable.d)table of random numbers.ANSWER:bTYPE: MC DIFFICULTY: EasyKEYWORDS: continuous variable, types of data12.Referring to Scenario 1-1, the possible responses to the question "How many people arethere in your household?" are values from aa)discrete numerical variable.b)continuous numerical variable.c)categorical variable.d)table of random numbers.ANSWER:aTYPE: MC DIFFICULTY: EasyKEYWORDS: discrete variable, types of data13.Referring to Scenario 1-1, the possible responses to the question "How would you rate thequality of your purchase experience with 1 = excellent, 2 = good, 3 = decent, 4 = poor, 5 =terrible?" are values from aa)discrete numerical variable.b)continuous numerical variable.c)categorical variable.d)table of random numbers.ANSWER:cTYPE: MC DIFFICULTY: EasyKEYWORDS: categorical variable, types of data14.Referring to Scenario 1-1, the possible responses to the question "What brand of Blu-rayplayer did you purchase?" are values from aa)discrete numerical variable.b)continuous numerical variable.c)categorical variable.d)table of random numbers.ANSWER:cTYPE: MC DIFFICULTY: EasyKEYWORDS: categorical variable, types of data
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