Exam 21: Understanding Statistics: Descriptive and Inferential Techniques

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

If rising temperatures are followed immediately by an increase in crime in urban areas, we would attribute the two events to be an instance of logical causality.

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 _______.

The process of using data collected from a small group to reach conclusions about a large group is called

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.

The V in the DCOVA framework stands for "visualize".

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 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 involving the collection, presentation, and characterization of the data are called _______.

"Big data" are data being collected in huge volumes and at very fast rates, and they typically arrive in a variety of forms, organized and unorganized.

The Excel command used to display and review formulas is ______________.

A study is under way in Yosemite National Forest to determine the adult height of American pine trees.Specifically, the study is attempting to determine what factors aid a tree in reaching heights greater than 60 feet tall.It is estimated that the forest contains 25,000 adult American pines.The study involves collecting heights from 250 randomly selected adult American pine trees and analyzing the results.Identify the variable of interest in the study.

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, drawing conclusions on any one day about the true population characteristics based on information obtained from the sample is called _______.

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

Which of the following is not true about business analytics?

The V in the DCOVA framework stands for "value".

The V in the DCOVA framework stands for "verify".

The estimation of the population average family expenditure on food based on the sample average expenditure of 1,000 families is an example of

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

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.