Exam 1: Statistics and Data

An investor wants to know today's average closing price of the stocks listed on the Standard and Poor's 500 Index.Will the investor calculate a population parameter or sample statistic? Why?

An analyst studies a data set of the 2011 year-end book value per share for all companies listed on the New York Stock Exchange.This data set is best described as ___________.

Define the measurement scale of a car's fuel efficiency (measured in miles per gallon).Is a car's fuel efficiency discrete or continuous?

A discrete variable cannot assume an infinite number of values.

For which of the following population parameters is sampling not necessary?

The ordinal scale of data measurement is _______________.

Administrators have concluded that the SAT exam results for 2011 show a distinct change in student capabilities when compared with the year 1991.In 1991 the SAT exam included only multiple choice sections,and was later redesigned.What is wrong with this conclusion?

The branch of statistical studies called inferential statistics refers to drawing conclusions about sample data by analyzing the corresponding population.

We would like to determine the average height of a college team of basketball players at Ohio State University.Is it necessary to take a sample of basketball players? Explain.

Which scales of data measurement are associated with quantitative data?

A professor's gender (male,female)as well as rank (assistant,associate,full)represent ordinal data.

A professor's rank (assistant,associate,and full),as well as salary,represent ordinal data.

We would like to determine whether there is a difference between the height of a college team of basketball players at the Ohio State University and the overall student body.Identify the two populations in this study.

What is the scale of measurement of the distance between any two locations?

The teachers union in California wants to know the average salary for high school teachers throughout the country.What will the teachers union presumably calculate?

An undergraduate student's status (freshman,sophomore,junior,and senior)is an example of which scale of measurement?

The branch of statistical studies called descriptive statistics summarizes important aspects of a data set.

Statistics is the methodology of extracting unnecessary information from a data set.

The Fahrenheit scale for measuring temperature would be classified as __________.

Philadelphia experienced a record amount of rainfall in August of 2011.During the last week of the month,they received additional rain from a hurricane.Since global warming is thought to cause extreme weather patterns,one conclusion that could be drawn is that these patterns are evidence of global warming.What is wrong with this conclusion?