Exam 1: Data and Statistics

Exhibit 1-2 In a sample of 3,200 registered voters, 1,440, or 45%, approve of the way the President is doing his job. -Refer to Exhibit 1-2. The 45% approval is an example of

Molly Porter owns and operates two convenience stores, one on the East side of the city and the other on the South side. She has workforce-planning decisions to make and has collected some recent sales data that are relevant to her decisions. Listed below are the monthly sales ($000) at her two stores for the past six months. a. Is the data set cross-sectional or time series data? Explain. b. Comment on any apparent patterns you see in the data.

The major applications of data mining have been made by companies with a strong _______ focus.

The set of measurements collected for a particular element is (are) called

Which of the following is NOT an example of an existing source of data?

Income is an example of

__________ is a spreadsheet package.

The profits earned by a particular Fortune 500 company, measured in millions of dollars, is an example of

The owner of a factory regularly requests a graphical summary of all employees' salaries. The graphical summary of salaries is an example of

In a questionnaire, respondents are asked to record their age in years. Age is an example of a

Which scale of measurement can be either numeric or nonnumeric?

A recent issue of a national magazine reported that in a national public opinion survey conducted among 2,000 individuals, 56% were in favor of gun control, 40% opposed gun control, and 4% had no opinion on the subject. a.What is the sample in this survey? b.Based on the sample, what percentage of the population would you think is in favor of gun control? c.Based on the sample, what percentage of the population would you think have no opinion on the subject?

A sample of five Fortune 500 companies showed the following industry codes: banking, banking, finance, retail, and banking. Based on this information, which of the following statements is correct?

Which of the following is an example of categorical data?

When the data have the properties of interval data and the ratio of two values is meaningful, the variable has which scale of measurement?

In a questionnaire, respondents are asked to mark their gender as male or female. Gender is an example of a

The following data shows the yearly income distribution of a sample of 200 employees at MNM, Inc. a. What percentage of employees has yearly incomes of more than $35,000? b. Is the figure (percentage) that you computed in Part a an example of statistical inference? If no, what kind of statistics does it represent? c. Based on this sample, the president of the company said that "45% of all our employees' yearly incomes are over $35,000." The president's statement represents what kind of statistics? d. With the statement made in Part c, can we be assured that more than 45% of all employees' yearly incomes are at least $35,000? Explain. e. What percentage of employees of the sample has yearly incomes of $29,000 or less? f. How many variables are presented in the above data set? g. The above data set represents the results of how many observations?

Categorical data use either the ______ or ______ scale of measurement.

A statistics professor asked students in a class their ages. On the basis of this information, the professor states that the average age of all the students in the university is 21 years. This is an example of

Which of the following variables use the interval scale of measurement?