Question 1

The population is sometimes referred to as the universe and is the entire set of people or objects of interest.

Accepted Answer

A) True 
 B)False

Question 2

The distinguishing feature of discrete variables is that ____________________ exist between the possible values.

Accepted Answer

The answer of The distinguishing feature of discrete variables is...

Question 3

Which of the following is not the goal of descriptive statistics?

Accepted Answer

A)  Summarizing data 
B)  Displaying aspects of the collected data 
C)  Reporting numerical findings 
D)  Estimating characteristics of the population 
A)  Summarizing data 
B)  Displaying aspects of the collected data 
C)  Reporting numerical findings 
D)  Estimating characteristics of the population

Question 4

When a sample is so large as to include all members of the population,it is referred to as a completed ____________________.

Accepted Answer

The answer of When a sample is so large as...

Question 5

A manufacturer of children toys claims that less than 5% of his products are defective.When 500 toys were drawn from a large production run,7% were found to be defective.
A)What is the population of interest?
B)What is the sample?
C)What is the parameter?
D)What is the statistic?
E)Does the value 5% refer to the parameter or the statistic?
F)Is the value 7% a parameter or a statistic?
G)Explain briefly how the statistic can be used to make inferences about the parameter to test the claim.

Accepted Answer

All toys in the production run; 500 toys

Question 6

The sample statistic is a characteristic of the sample that the population parameter attempts to estimate.

Accepted Answer

A) True 
 B)False

Question 7

Match the terms with the definitions.(Note: there are more definitions than terms)
-sample
A)a characteristic of the population
B)indicates that a person or object belongs in a category
C)the entire set of people or objects of interest
D)the arithmetic average of the data
E)a measurement scale with an absolute zero
F)a measured characteristic of a sample
G)helps us determine how much of something is possessed
H)a subset of people or objects that exist within the entire set

Accepted Answer

The answer of Match the terms with the definitions.(Note: there...

Question 8

Which of the following statements involve inferential statistics as opposed to descriptive statistics?

Accepted Answer

A)  A total of 4,785 people voted for Mike Johnson in a local election. 
B)  The FAA reported there were 200 near misses among airplanes last year. 
C)  A class of fifty statistics students earned an average grade of 75.5. 
D)  The city business office reported 40 building permits for new single-family housing units. 
E)  Based on a sample of 500 subscribers,a local cable system estimates that forty percent of its subscribers watch a premium channel at least once per day. 
A)  A total of 4,785 people voted for Mike Johnson in a local election. 
B)  The FAA reported there were 200 near misses among airplanes last year. 
C)  A class of fifty statistics students earned an average grade of 75.5. 
D)  The city business office reported 40 building permits for new single-family housing units. 
E)  Based on a sample of 500 subscribers,a local cable system estimates that forty percent of its subscribers watch a premium channel at least once per day.

Question 9

A store's inventory of party supplies consists of 600 red balloons,200 white balloons,and 200 blue balloons.Your boss asks you to choose a representative sample of 75 balloons for a window display.How many red balloons should you place in the display? Explain your answer.

Accepted Answer

45; A sample is representative if its me

Question 10

A recent Wall Street Journal poll asked a group of American voters to rate economic conditions in the United States.22% of the respondents rated economic conditions as "favorable." Identify the population,sample,sample statistic,and population parameter in this survey.
Population: ________________________________________
Sample: ________________________________________
Sample statistic: ________________________________________
Population parameter: ________________________________________.

Accepted Answer

All eligible voters in the U.S

Question 11

What was the primary use of statistics in ancient times?

Accepted Answer

In ancient times,statistics wa

Question 12

Six classmates told you their scores on the last statistics exam.Based on this information,you conclude that the average exam score for the entire class was 82.This is an example of descriptive statistics.

Accepted Answer

A) True 
 B)False

Question 13

The temperature of the room in which you are taking this test is a ____________________ quantitative variable.

Accepted Answer

The answer of The temperature of the room in which...

Question 14

Which of the following statements involve descriptive statistics as opposed to inferential statistics?

Accepted Answer

A)  The Alcohol,Tobacco and Firearms Department reported that Houston had 1,791 registered gun dealers in 1997. 
B)  Based on a survey of 400 magazine readers,the magazine reports that 45% of its readers prefer double column articles. 
C)  The FAA samples 500 traffic controllers in order to estimate the percent retiring due to job stress related illness. 
D)  Based on a sample of 300 professional tennis players,a tennis magazine reported that 25% of the parents of all professional tennis players did not play tennis. 
E)  The admission's office in a southern university samples 200 college students in business in order to estimate the percentage of business majors who prefer accounting to economics. 
A)  The Alcohol,Tobacco and Firearms Department reported that Houston had 1,791 registered gun dealers in 1997. 
B)  Based on a survey of 400 magazine readers,the magazine reports that 45% of its readers prefer double column articles. 
C)  The FAA samples 500 traffic controllers in order to estimate the percent retiring due to job stress related illness. 
D)  Based on a sample of 300 professional tennis players,a tennis magazine reported that 25% of the parents of all professional tennis players did not play tennis. 
E)  The admission's office in a southern university samples 200 college students in business in order to estimate the percentage of business majors who prefer accounting to economics.

Question 15

What is business statistics?

Accepted Answer

Business statistics can be des

Question 16

Match the terms with the definitions.(Note: there are more definitions than terms)
-statistic

Accepted Answer

A) a characteristic of the population 
B) indicates that a person or object belongs in a category 
C) the entire set of people or objects of interest 
D) the arithmetic average of the data 
E) a measurement scale with an absolute zero
F)a measured characteristic of a sample
G)helps us determine how much of something is possessed
H)a subset of people or objects that exist within the entire set 
A) a characteristic of the population 
B) indicates that a person or object belongs in a category 
C) the entire set of people or objects of interest 
D) the arithmetic average of the data 
E) a measurement scale with an absolute zero
F)a measured characteristic of a sample
G)helps us determine how much of something is possessed
H)a subset of people or objects that exist within the entire set

Question 17

An automobile insurance agent believes that company A is more reliable than company B.Which scale of measurement does this information represent?

Accepted Answer

A)  Nominal 
B)  Ordinal 
C)  Interval 
D)  Ratio 
A)  Nominal 
B)  Ordinal 
C)  Interval 
D)  Ratio

Question 18

Which of the following statements is false?

Accepted Answer

A)  Statistics can be divided into two branches: descriptive and inferential. 
B)  The mean,median and mode,are measures of typicalness or central tendency. 
C)  The range and standard deviation are measures of spread or dispersion or variability. 
D)  A discrete quantitative variable can take on a value at any point along an interval. 
E)  The four scales of measurement are important in determining appropriate methods for data description and analysis. 
A)  Statistics can be divided into two branches: descriptive and inferential. 
B)  The mean,median and mode,are measures of typicalness or central tendency. 
C)  The range and standard deviation are measures of spread or dispersion or variability. 
D)  A discrete quantitative variable can take on a value at any point along an interval. 
E)  The four scales of measurement are important in determining appropriate methods for data description and analysis.

Question 19

Match the terms with the definitions.(Note: there are more definitions than terms)
-quantitative variable
A)a characteristic of the population
B)indicates that a person or object belongs in a category
C)the entire set of people or objects of interest
D)the arithmetic average of the data
E)a measurement scale with an absolute zero
F)a measured characteristic of a sample
G)helps us determine how much of something is possessed
H)a subset of people or objects that exist within the entire set

Accepted Answer

The answer of Match the terms with the definitions.(Note: there...

Question 20

Business statistics can be described as the collection,summarization,analysis,and reporting of numerical findings relative to a business decision or situation.

Accepted Answer

A) True 
 B)False

The population is sometimes referred to as the universe and is the entire set of people or objects of interest.

The distinguishing feature of discrete variables is that ____________________ exist between the possible values.

Which of the following is not the goal of descriptive statistics?

When a sample is so large as to include all members of the population,it is referred to as a completed ____________________.

The sample statistic is a characteristic of the sample that the population parameter attempts to estimate.

Which of the following statements involve inferential statistics as opposed to descriptive statistics?

A store's inventory of party supplies consists of 600 red balloons,200 white balloons,and 200 blue balloons.Your boss asks you to choose a representative sample of 75 balloons for a window display.How many red balloons should you place in the display? Explain your answer.

What was the primary use of statistics in ancient times?

Six classmates told you their scores on the last statistics exam.Based on this information,you conclude that the average exam score for the entire class was 82.This is an example of descriptive statistics.

The temperature of the room in which you are taking this test is a ____________________ quantitative variable.

Which of the following statements involve descriptive statistics as opposed to inferential statistics?

What is business statistics?

Match the terms with the definitions.(Note: there are more definitions than terms) -statistic

An automobile insurance agent believes that company A is more reliable than company B.Which scale of measurement does this information represent?

Which of the following statements is false?

Business statistics can be described as the collection,summarization,analysis,and reporting of numerical findings relative to a business decision or situation.

Visual Description of Data

Statistical Description of Data

Data Collection and Sampling Methods

Probability: Review of Basic Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions

Estimation From Sample Data

Hypothesis Tests Involving a Sample Mean or Proportion

Hypothesis Tests Involving Two Sample Means

Analysis of Variance Tests

Chi-Square Applications

Nonparametric Methods

Simple Linear Regression and Correlation

Multiple Regression and Correlation

Model Building

Models for Time Series and Forecasting

Decision Theory

Total Quality Management

Filters

Exam 1: A Preview of Business Statistics

The population is sometimes referred to as the universe and is the entire set of people or objects of interest.

The distinguishing feature of discrete variables is that ____________________ exist between the possible values.

Which of the following is not the goal of descriptive statistics?

When a sample is so large as to include all members of the population,it is referred to as a completed ____________________.

The sample statistic is a characteristic of the sample that the population parameter attempts to estimate.

Which of the following statements involve inferential statistics as opposed to descriptive statistics?

A store's inventory of party supplies consists of 600 red balloons,200 white balloons,and 200 blue balloons.Your boss asks you to choose a representative sample of 75 balloons for a window display.How many red balloons should you place in the display? Explain your answer.

What was the primary use of statistics in ancient times?

Six classmates told you their scores on the last statistics exam.Based on this information,you conclude that the average exam score for the entire class was 82.This is an example of descriptive statistics.

The temperature of the room in which you are taking this test is a ____________________ quantitative variable.

Which of the following statements involve descriptive statistics as opposed to inferential statistics?

What is business statistics?

Match the terms with the definitions.(Note: there are more definitions than terms) -statistic

An automobile insurance agent believes that company A is more reliable than company B.Which scale of measurement does this information represent?

Which of the following statements is false?

Business statistics can be described as the collection,summarization,analysis,and reporting of numerical findings relative to a business decision or situation.

Visual Description of Data

Statistical Description of Data

Data Collection and Sampling Methods

Probability: Review of Basic Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions

Estimation From Sample Data

Hypothesis Tests Involving a Sample Mean or Proportion

Hypothesis Tests Involving Two Sample Means

Analysis of Variance Tests

Chi-Square Applications

Nonparametric Methods

Simple Linear Regression and Correlation

Multiple Regression and Correlation

Model Building

Models for Time Series and Forecasting

Decision Theory

Total Quality Management

Filters