Question 1

Empirical data are collected through observations and/or experiments.

Accepted Answer

A) True 
 B)False  True

Question 2

Statistics can help you handle either too little or too much information.

Accepted Answer

A) True 
 B)False  True

Question 3

Which is not a likely area of application of statistics in business?

Accepted Answer

A) Auditing supplier invoices for correct payment 
B) Questioning the executives' strategic decisions 
C) Looking for patterns in a large marketing database 
D) Making forecasts of several key product lines 
A) Auditing supplier invoices for correct payment 
B) Questioning the executives' strategic decisions 
C) Looking for patterns in a large marketing database 
D) Making forecasts of several key product lines B

Question 4

Business intelligence refers to collecting, storing, accessing, and analyzing data on the company's operations in order to make better business decisions.

Accepted Answer

A) True 
 B)False

Question 5

"Tom's SUV rolled over. SUVs are dangerous." This best illustrates which fallacy?

Accepted Answer

A) Unconscious bias 
B) Significance versus practical importance 
C) Post hoc reasoning 
D) Small sample generalization 
A) Unconscious bias 
B) Significance versus practical importance 
C) Post hoc reasoning 
D) Small sample generalization

Question 6

Which is not a reason for an average student to study statistics?

Accepted Answer

A) Improve technical writing skills 
B) Gain information management skills 
C) Enhance technical literacy 
D) Learn stock market strategies 
A) Improve technical writing skills 
B) Gain information management skills 
C) Enhance technical literacy 
D) Learn stock market strategies

Question 7

Which of the following statements is correct?

Accepted Answer

A) A parameter is a measure that is calculated from a sample. 
B) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. 
C) For day-to-day business data analysis, most firms rely on a large staff of expert statisticians. 
D) A statistical test result that is significant also has practical importance. 
A) A parameter is a measure that is calculated from a sample. 
B) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. 
C) For day-to-day business data analysis, most firms rely on a large staff of expert statisticians. 
D) A statistical test result that is significant also has practical importance.

Question 8

Surveying electric vehicle owners would provide a representative random sample of Americans' views on global warming policies.

Accepted Answer

A) True 
 B)False

Question 9

A statistical test may be significant yet have no practical importance.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following statements is not true?

Accepted Answer

A) A statistic is a single measure (usually numerical) that is calculated from a sample. 
B) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. 
C) For day-to-day business data analysis, most firms rely on a large staff of expert statisticians. 
D) A statistical test may be significant yet have no practical importance. 
A) A statistic is a single measure (usually numerical) that is calculated from a sample. 
B) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. 
C) For day-to-day business data analysis, most firms rely on a large staff of expert statisticians. 
D) A statistical test may be significant yet have no practical importance.

Question 11

Which of the following statements is not true?

Accepted Answer

A) Statistics helps refine theories through ongoing hypothesis testing. 
B) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. 
C) Estimating parameters is an important aspect of descriptive statistics. 
D) Statistical challenges include imperfect data and practical constraints. 
A) Statistics helps refine theories through ongoing hypothesis testing. 
B) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. 
C) Estimating parameters is an important aspect of descriptive statistics. 
D) Statistical challenges include imperfect data and practical constraints.

Question 12

An ethical data analyst would be least likely to:

Accepted Answer

A) check data for accuracy. 
B) cite his/her data sources and their limitations. 
C) acknowledge sources of financial support. 
D) rely on consultants for all calculations. 
A) check data for accuracy. 
B) cite his/her data sources and their limitations. 
C) acknowledge sources of financial support. 
D) rely on consultants for all calculations.

Question 13

Which is not an ethical obligation of a statistician?

Accepted Answer

A) To know and follow accepted procedures 
B) To ensure data integrity and accurate calculations 
C) To support client wishes in drawing conclusions from the data 
D) To acknowledge sources of financial support 
A) To know and follow accepted procedures 
B) To ensure data integrity and accurate calculations 
C) To support client wishes in drawing conclusions from the data 
D) To acknowledge sources of financial support

Question 14

"Bob didn't wear his lucky T-shirt to class, so he failed his chemistry exam." This best illustrates which fallacy?

Accepted Answer

A) Small sample generalization 
B) Poor survey methods 
C) Post hoc reasoning 
D) More than one of the above 
A) Small sample generalization 
B) Poor survey methods 
C) Post hoc reasoning 
D) More than one of the above

Question 15

A strong correlation between A and B would imply that B is caused byA.

Accepted Answer

A) True 
 B)False

Question 16

Valid statistical inferences cannot be made when sample sizes are small.

Accepted Answer

A) True 
 B)False

Question 17

Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.

Accepted Answer

A) True 
 B)False

Question 18

We would associate the term inferential statistics with which task?

Accepted Answer

A) Making visual displays of data 
B) Estimating unknown parameters 
C) Describing a sample of data 
D) Tabulating a survey 
A) Making visual displays of data 
B) Estimating unknown parameters 
C) Describing a sample of data 
D) Tabulating a survey

Question 19

The post hoc fallacy says that when B follows A then B is caused byA.

Accepted Answer

A) True 
 B)False

Question 20

Predicting a presidential candidate's percentage of the statewide vote from a sample of 800 voters would be an example of inferential statistics.

Accepted Answer

A) True 
 B)False

Empirical data are collected through observations and/or experiments.

Statistics can help you handle either too little or too much information.

Which is not a likely area of application of statistics in business?

Business intelligence refers to collecting, storing, accessing, and analyzing data on the company's operations in order to make better business decisions.

"Tom's SUV rolled over. SUVs are dangerous." This best illustrates which fallacy?

Which is not a reason for an average student to study statistics?

Which of the following statements is correct?

Surveying electric vehicle owners would provide a representative random sample of Americans' views on global warming policies.

A statistical test may be significant yet have no practical importance.

Which of the following statements is not true?

Which of the following statements is not true?

An ethical data analyst would be least likely to:

Which is not an ethical obligation of a statistician?

"Bob didn't wear his lucky T-shirt to class, so he failed his chemistry exam." This best illustrates which fallacy?

A strong correlation between A and B would imply that B is caused byA.

Valid statistical inferences cannot be made when sample sizes are small.

Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.

We would associate the term inferential statistics with which task?

The post hoc fallacy says that when B follows A then B is caused byA.

Predicting a presidential candidate's percentage of the statewide vote from a sample of 800 voters would be an example of inferential statistics.

Data Collection

Describing Data Visually

Descriptive Statistics

Probability

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions and Estimation

One-Sample Hypothesis Tests

Two-Sample Hypothesis Tests

Analysis of Variance

Simple Regression

Multiple Regression

Time Series Analysis

Chi-Square Tests

Nonparametric Tests

Quality Management

Filters

Exam 1: Overview of Statistics

Empirical data are collected through observations and/or experiments.

Statistics can help you handle either too little or too much information.

Which is not a likely area of application of statistics in business?

Business intelligence refers to collecting, storing, accessing, and analyzing data on the company's operations in order to make better business decisions.

"Tom's SUV rolled over. SUVs are dangerous." This best illustrates which fallacy?

Which is not a reason for an average student to study statistics?

Which of the following statements is correct?

Surveying electric vehicle owners would provide a representative random sample of Americans' views on global warming policies.

A statistical test may be significant yet have no practical importance.

Which of the following statements is not true?

Which of the following statements is not true?

An ethical data analyst would be least likely to:

Which is not an ethical obligation of a statistician?

"Bob didn't wear his lucky T-shirt to class, so he failed his chemistry exam." This best illustrates which fallacy?

A strong correlation between A and B would imply that B is caused byA.

Valid statistical inferences cannot be made when sample sizes are small.

Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.

We would associate the term inferential statistics with which task?

The post hoc fallacy says that when B follows A then B is caused byA.

Predicting a presidential candidate's percentage of the statewide vote from a sample of 800 voters would be an example of inferential statistics.

Data Collection

Describing Data Visually

Descriptive Statistics

Probability

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions and Estimation

One-Sample Hypothesis Tests

Two-Sample Hypothesis Tests

Analysis of Variance

Simple Regression

Multiple Regression

Time Series Analysis

Chi-Square Tests

Nonparametric Tests

Quality Management

Filters