Exam 1: Introduction to Statistics and Business Analytics

A question in a survey of microcomputer users asked: "Which operating system do you use most often: a.Apple OS 7, b.MS DOS, c.MS Windows 95, d.UNIX." The measurement level for these possible responses is _________________.

A new CEO of has just completed a first data mining project.The analysis did not provide much useful information because not all departments reported and because of an overall smaller than expected sample size.To which characteristics of big data do these issues refer?

Which of the following would not be a potential source of data for a furniture manufacturing business?

An international social media company stores approximately 300 billion images and 1.2 trillion posts.Given just this information, which of the vectors of big data is the most likely focus of this company's data collection?

The category of business analytics that is often used to optimize the performance of a system in the business would be __________.

A level of data measurement that has an absolute zero is called _______.

The Chamber of Commerce wants to assess its membership's opinions of the North American Free Trade Agreement.One-hundred of the 2,000 members are randomly selected and contacted by telephone.Seventy-five reported an overall favorable opinion, and twenty-five reported an overall unfavorable opinion.The proportion, 0.75, is a ___________.

All numerical data must be analyzed statistically in the same way because all of them are represented by numbers.

A census is the process of gathering data on all the entities in the population.

The three categories of business analytics could be described as describing what has happened, predicting potential relationships among data, and prescribing future decisions under uncertainty.

A descriptive measure of the population is called a parameter.

A company is concerned that the data it has acquired has become so large that its practical use is severely limited)They decide to extract patterns from its present data, increasing its essential value)This would be an example of:

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 100 of all the restaurant's customers who enjoyed a meal during the past 6 months.For this study, the set of 100 customers is ________________.

Calculation of population parameters is usually either impossible or excessively time consuming and costly.

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.The average variation computed using the data gathered on the group of ten airplanes is best described as a _______.

A cancer research group was interested in determining the percentage of women 40 years or older that have regularly scheduled mammograms.To accomplish this, they surveyed 500 women in this age group and based on the 155 women that responded affirmatively, estimated the percentage of all women in this age group that have regularly scheduled mammograms.This process is an example of _________.

Consumer information, financial reports, supply chain and human resource information are examples of ____________.

One piece of data includes a variety of variables.

A company wishes to establish a system that can continually and automatically process new data to improve recommendations and provide better decision options, you are likely dealing in the area of ______________.

The CIO for a large hospitality business has been inundated with information and data regarding customer needs and spending preferences.However, her in-house data analytics team has advised her that what she really needs is to develop an understanding of relationships.With this knowledge she should will be able to recognize new patterns and undiscovered trends.This category of analytics is called ___________.