Exam 21: Understanding Statistics: Descriptive and Inferential Techniques

The O in the DCOVA framework stands for "organize".

The C in the DCOVA framework stands for "categorize".

The collection and summarization of the socioeconomic and physical characteristics of the employees of a particular firm are examples of

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.

The Excel command used to insert a new worksheet into a workbook is ________________ .

"Big data" is a concrete concept with a precise operational definition.

Which of the following is not an attribute of big data?

The A in the DCOVA framework stands for "apply".

Compiling the number of registered voters who turned out to vote for the primary in Iowa is an example of descriptive statistics.

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 _______.

Using software, you perform calculations more easily than by hand.This means which of the following:

Using the number of registered voters who turned out to vote for the primary in Iowa to predict the number of registered voters who will turn out to vote in Vermont's primary is an example of descriptive statistics.

An online marketing system that uses customer demand to adjust its item or service pricing is using ________ ________ in its strategy.

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)is called _______ .

Those methods involving the collection, presentation, and characterization of a set of data in order to properly describe the various features of that set of data are called

The Human Resources Director of a large corporation wishes to develop an employee benefit package and decides to select 500 employees from a list of all (N = 40,000)workers in order to study their preferences for the various components of a potential package.In this study, methods that result in decisions concerning population characteristics based only on the sample results are called _______.

The D in the DCOVA framework stands for "data".

The O in the DCOVA framework stands for "operationalize".

A professor computed the sample average exam score of 20 students and used it to estimate the average exam score of the 1,500 students taking the exam.This is an example of inferential statistics.