Exam 1: An Introduction to Business Statistics

Which of the following is a categorical variable?

Sampling error occurs because a mean of a random sample can not exactly equal the population mean that we are attempting to estimate.

If we collect data on the number of wins each team in the NFL had during the 2011-12 season,we have _____________ data.

A ____________ is a set of assumptions about how sample data are selected and about the population from which the sample data are selected.

The change in the daily price of a stock is what type of variable?

A population is a set of existing units.

Which of the following is not an example of unethical statistical practices?

A ____________ is a subset of the units in a population.

A ___________ is a display of individual measurements versus time.

__________ is a necessary component of a runs plot.

Business analytics uses methods that are not part of traditional statistics to look at big data.

Prescriptive analytics involve methods used to find anomalies,patterns,and associations in data sets with the purpose of predicting future outcomes.

Jersey numbers of soccer players is an example of a(n)___________ variable.

_____________ is the difference between a numerical description of the population and the corresponding descriptor of the sample.

In order to select a stratified random sample,we divide the population into overlapping groups of similar elements.

_________ uses traditional or newer graphics to present visual summaries of business information.

College entrance exam scores,such as SAT scores,are an example of a(n)_____________ variable.

The process of assigning a value of a variable to each element in a data set is called ___________.

A(n)____________ variable can have values that indicate into which of several categories of a population it belongs.

Methods for obtaining a sample are called