Exam 32: Lets Get Started Big Things to Learn First

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.

True or False: The D in the DCOVA framework stands for "define."

True or False: The C in the DCOVA framework stands for "categorize."

True or False: The A in the DCOVA framework stands for "apply."

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.

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 ________.

Which of the following is not an element of descriptive statistical problems?

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.

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.

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)are called ________.

Which of the following is not true about business analytics?

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.

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 ________.