Exam 1: Introduction to Statistics and Business Analytics

Rebecca Sear, Marketing Director of a regional restaurant chain, is directing a study to identify and assess the in-dining experience of the customers at one of the restaurants.She directs her staff to design a web-based market survey for distribution to all of the restaurant's 1265 customers who enjoyed a meal during the past 6 months.For this study, the set of 1265 customers is ________________.

On discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered a 100% inspection of all castings drilled during the evening shift.Jack is ordering a ___________________.

To address the challenges of analyzing big data, several popular statistical software packages are _______________.

Data extraction is the first process within ____________.

Which of the following operations is meaningful for processing ordinal data, but is meaningless for processing nominal data?

The basis for inferential statistics is the ability to make decisions about population parameters without having to complete a census of the population.

Simulation, statistical modeling, time-series and regression are topics in ____________.

Miguel Hernandez, Senior Vice President of Human Resources at Memorial Hospital is exploring the usage of nursing overtime hours in the emergency department during the last operating year.Staffing records and emergency department visits for 20 days between the period of January 1, 2018, and December 31, 2018, are selected for analysis.For this study, the group of 20 days is a __________.

A researcher wants to know the average variation in the altimeters of small, privately owned airplanes.The task of determining this is expensive and time consuming, if even possible, given the large number of such airplanes.The researcher decides to use government records to randomly locate the owners of ten such planes and then get permission to test the altimeters in those planes.When the researcher is done, he will use the data gathered from the group of ten to reach conclusions about all small, privately owned airplanes.This process can best be described as _______.

Miguel Hernandez, Senior Vice President of Human Resources at Memorial Hospital is exploring the usage of nursing overtime hours in the emergency department during the last operating year.Staffing records and emergency department visits for all 365 days between the period of January 1, 2018, and December 31, 2018, are selected for analysis.Miguel's collection method can best be classified as a

Virtually all areas of business use statistics in decision making.

Many companies sponsor local sporting teams and events.What data is least likely to be part of the decision to sponsor that event?

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by selecting a focus group of 40 industrial customers.Sue is ordering a __________.

The process of summarizing sample data is called

Which scale of measurement has these two properties: linear distance is meaningful and the location of origin (or zero point)is absolute (or natural)?

The complete collection of all entities under study is called the sample.

Simulation is a mathematical strategy one would expect to find within both predictive and prescriptive analytics.

The ultimate goal of data mining is

The lowest level of data measurement is the ratio level.

Which of the following is not true regarding data mining