Exam 1: Introduction to Statistics

Statistics is commonly divided into two branches called descriptive statistics and summary statistics.

Nominal and ordinal data are sometimes referred to as qualitative data.

By transforming data from social media and competitors, an analyst was able to identify a relationship between an increase in the number of positive online comments about the company and negative marketing ads from its competitors.This relationship was most likely found through _____________ .

A CEO wants to depict information in creative ways by effectively using bars charts and line graphs.This strategy is an example of ____________:

Predictive analytics focus on how past patterns might occur in the future.These analyses often rely on patterns that are _______ the future.

You are the owner of a camping site and want to estimate the average age of your customers.For this purpose, you select a representative sample of your clients and offer them a discount on their next visit as compensation for filling out a short questionnaire that includes relevant age intervals.The average age of the customers who fill out the questionnaire is:

A business manager has access to a large data set that includes complex information that would be difficult to process with traditional data management.These data would be referred to as __________,

You are the owner of a camping site and want to estimate the level of customer satisfaction among your clients.For this purpose, you select a representative sample of your clients and offer them a discount on their next visit as compensation for filling out a short questionnaire.One question specifically says, "How satisfied are you with your experience, on a scale from (1)to (5), where (1)is 'very dissatisfied' and (5)is 'very satisfied'?" This is an example of _______.

The Cascades Inc.has a plant in Winnipeg, Manitoba.Management wants to determine the average number of sick days taken per worker in this plant in 2022.To do this, management gathers records on all the workers in the plant and averages the number of sick days taken in 2022 by each worker.This process is using ___.

Future Video, a gaming company, is awaiting a marketing survey that will tell them how well and in what markets their latest game console is selling.The VP of Marketing has to develop contingency plans for the investors based upon this information.What type of analytics would the VP most likely be using?

A consumer has been asked to rank five cars based upon their desirability.This level of measurement is ___.

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 ___.

Velocity refers to the speed with which data are available to the business for analysis.

A descriptive measure of the population is called a parameter.

Prescriptive analytics is optimal for taking risk and uncertainty into account by looking at the effects of future actions.

A software package defined as a category of computer graphics products used to create graphical displays and interfaces for software applications would be used in ______________.

A company uses business analytics to focus on the best course of action within specific circumstances.This would fit within which category of business analytics?

Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "each and every payroll voucher issued since January 1, 2013." Pinky is ordering a ___.

Descriptive statistics focuses on what has happened or is happening within the business.

During the Valentine season, different offices in a company are encouraged to decorate their doors.A committee then goes around and ranks the doors according to how well the doors are decorated.The best door gets a ranking of "1"; the second best gets a ranking of "2", etc.The numbers of these rankings represent which level of data?