Deck 1: Introduction to Statistics

Question 1

A portion or subset of the entities under study is called the statistic.

Answer 1

False

Question 2

The manner in which numerical data can be analyzed statistically depends on the level of data measurement represented by numbers being analyzed.

Answer 2

True

Question 3

Gathering data from a sample to reach conclusions about the population from which the sample was drawn is called descriptive statistics.

Answer 3

False

Question 4

Statistics is commonly divided into two branches called descriptive statistics and inferential statistics.

Question 5

Numbers which are used to classify or categorize the observations represent data measured at the nominal level.

Question 6

Numbers which are used to rank-order the performance of workers represent data measured at the interval level.

Question 7

Gathering data from a sample to reach conclusions about the population from which the sample was drawn is called inferential statistics.

Question 8

The lowest level of data measurement is the ratio-level.

Question 9

Virtually all areas of business use statistics in decision making.

Question 10

Statistics is commonly divided into two branches called descriptive statistics and summary statistics.

Question 11

The highest level of data measurement is the ratio-level.

Question 12

The basis for inferential statistics is the ability to make decisions about population parameters without having to complete a census of the population.

Question 13

Nominal and ordinal data are sometimes referred to as quantitative data.

Question 14

The complete collection of all entities under study is called the sample.

Question 15

With interval-level data, the zero point is a matter of convention and does not mean the absence of the phenomenon under observation.

Question 16

All numerical data must be analyzed statistically in the same way because all of them are represented by numbers.

Question 17

A census is the process of gathering data on all the entities in the population.

Question 18

Nominal and ordinal data are sometimes referred to as qualitative data.

Question 19

A descriptive measure of the sample is called a statistic.

Question 20

A descriptive measure of the population is called a parameter.

Question 21

The term "garbage in, garbage out" refers to the volume of the data used by a business.

Question 22

If a manager relies on his/her gut instinct to make critical business decisions, this is an example of business analytics in action.

Question 23

Simulation is a mathematical strategy one would expect to find within both predictive and prescriptive analytics.

Question 24

The main objective of business analytics is to transform data into meaningful information for business managers.

Question 25

Interval- and ratio-level data are sometimes referred to as quantitative data.

Question 26

Prescriptive analytics is the second step in big data analysis, following descriptive statistics.

Question 27

Using a bubble chart to display production levels for an organization's various product line is an example of data visualization.

Question 28

Big data should encompass all four characteristics of variety, velocity, virtuous, and volume.

Question 29

Big data refers to a standard set of variables collected from customers, suppliers, and staff.

Question 30

The three categories of business analytics could be described as describing what has happened, predicting potential relationships among data, and prescribing future decisions under uncertainty.

Question 31

Velocity refers to the speed with which data are available to the business for analysis.

Question 32

Data mining involves finding data, converting that data into useful forms, storing and managing the data and making the data available to all employees of the organization.

Question 33

Big data can include unstructured data such as writings and photographs.

Question 34

If big data has variety, then it can be said that the data are from several different sources such as videos, retail scanners, and the internet.

Question 35

Descriptive statistics focuses on what has happened or is happening within the business.

Question 36

Prescriptive analytics is optimal for taking risk and uncertainty into account by looking at the effects of future actions.

Question 37

Parametric statistics require that all data used be either interval or nominal.

Question 38

The process of turning large amounts of raw data into information that may lead to business advantages is data mining.

Question 39

One goal of data visualization is to make complex data easier to understand.

Question 40

The accuracy, quality and correctness of data is referred to as veracity.

Question 41

On discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered an inspection of every fifth casting drilled during the evening shift.Jack is ordering a ___.

A)statistic from the castings
B)census of the castings
C)sample of the castings
D)sorting of the castings
E)parameter of the castings

Question 42

A student makes an 82 on the first test in a statistics course.From this, she estimates that her average at the end of the semester (after other tests)will be about 82.This is an example of ___.

A)descriptive statistics
B)inferential statistics
C)population derivation
D)sample persuasion
E)relative level data

Question 43

On discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered a 100% inspection of all castings drilled during the evening shift.Jack is ordering a ___.

A)statistic from the castings
B)census of the castings
C)sample of the castings
D)sorting of the castings
E)parameter of the castings

Question 44

Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "each and every payroll voucher issued since January 1, 2013." Pinky is ordering a ___.

A)statistic from the payroll vouchers
B)census of the payroll vouchers
C)sample of the payroll vouchers
D)sorting of the payroll vouchers
E)parameter of the payroll vouchers

Question 45

Jessica Salas, president of Salas Products, is reviewing the warranty policy for her company's new model of automobile batteries.Life tests performed on a sample of 100 batteries indicated an average life of seven years under normal usage.Jessica recommended a six-year warranty period for the new model.This is an example of ___.

A)descriptive statistics
B)executive forecasting
C)population derivation
D)sample persuasion
E)inferential statistics

Question 46

Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is directing a study to identify and assess the relative importance of product features.Manuel directs his staff to design a survey questionnaire for distribution to 100 of Plano's 954 customers.For this study, the set of 100 customers is ___.

A)a parameter
B)a sample
C)the population
D)a statistic
E)the frame

Question 47

Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is leading a study to identify and assess the relative importance of product features.Manuel directs his staff to design a survey questionnaire and distribute it 100 of Plano's 954 customers.Manuel is ordering a ___.

A)statistic from the customers
B)census of the customers
C)sample of the customers
D)sorting of the customers
E)parameter of the customers

Question 48

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend.Specifically, the number of industrial customers is stable at 1,500, but they are purchasing less each year.She orders her staff to search for causes of the downward trend by selecting a focus group of 40 industrial customers.For this study, the set of 40 industrial customers is ___.

A)a parameter
B)a sample
C)the population
D)a statistic
E)the frame

Question 49

When a person collects information from the entire population, this is called a ___.

A)parameter
B)sample
C)population
D)census
E)statistic

Question 50

Marc Fortier, Director of Human Resources, is exploring the causes of employee absenteeism at Lennoxville Bottling during the last operating year.Personnel records for 50 of the plant's 250 employees are selected for analysis.For this study, the group of 50 employees is a ___.

A)parameter
B)sample
C)population
D)statistic
E)frame

Question 51

Using data from a group to generalize about the whole group involves the use of ___.

A)descriptive statistics
B)inferential statistics
C)population derivation
D)sample persuasion
E)relative level data

Question 52

Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is directing a study to identify and assess the relative importance of product features.Manuel directs his staff to design a survey questionnaire for distribution to all of Plano's 954 customers.For this study, the set of 954 customers is ___.

A)a parameter
B)a sample
C)the population
D)a statistic
E)the frame

Question 53

On discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered an inspection of every fifth casting drilled during the evening shift.Less than 1% of the castings were defective, so Jack released the evening shift's production to assembly.This is an example of ___.

A)nonparametric statistics
B)nominal data
C)descriptive statistics
D)inferential statistics
E)judgmental statistics

Question 54

Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "every tenth payroll voucher issued since January 1, 2013." Pinky is ordering a ___.

A)statistic from the payroll vouchers
B)census of the payroll vouchers
C)sample of the payroll vouchers
D)sorting of the payroll vouchers
E)parameter of the payroll vouchers

Question 55

Marc Fortier, Director of Human Resources, is exploring the causes of employee absenteeism at Lennoxville Bottling during the last operating year (January 1, 2019 through December 31, 2019).For this study, the set of all employees who worked at Lennoxville Bottling during the last operating year is ___.

A)a parameter
B)a sample
C)the population
D)a statistic
E)the frame

Question 56

A salesperson is paid a commission on each sale.This person made $2,000 in their first month on the job.Based on this the salesperson concludes they will make $24,000 during their first year.This is an example of ___.

A)inferential statistics
B)nominal data
C)descriptive statistics
D)deferential statistics
E)nonparametric statistics

Question 57

Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is leading a study to identify and assess the relative importance of product features.Manuel directs his staff to design a survey questionnaire and distribute it to all of Plano's 954 customers.Manuel is ordering a ___.

A)statistic from the customers
B)census of the customers
C)sample of the customers
D)sorting of the customers
E)parameter of the customers

Question 58

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend.Specifically, the number of customers is stable at 1,500, but they are purchasing less each year.She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers.Sue is ordering a ___.

A)statistic from the industrial customers
B)census of the industrial customers
C)sample of the industrial customers
D)sorting of the industrial customers
E)parameter of the industrial customers

Question 59

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend.Specifically, the number of customers is stable at 1,500, but they are purchasing less each year.She orders her staff to search for causes of the downward trend by selecting a focus group of 40 industrial customers.Sue is ordering a ___.

A)statistic from the industrial customers
B)census of the industrial customers
C)sample of the industrial customers
D)sorting of the industrial customers
E)parameter of the industrial customers

Question 60

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend.Specifically, the number of industrial customers is stable at 1,500, but they are purchasing less each year.She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers.For this study, the set of 1,500 industrial customers is ___.

A)a parameter
B)a sample
C)the population
D)a statistic
E)the frame

Question 61

A statistics instructor collects background information on the students.About 30% of the students have taken economics and about 40% have taken accounting.There are 23 male students and 27 female students in this class.This is an example of ___.

A)nonparametric statistics
B)nominal data
C)descriptive statistics
D)inferential statistics
E)census

Question 62

A researcher wants to know what the average variation is in altimeters of small, privately owned airplanes.The task of determining this is expensive and time-consuming, if even possible, given the large number of such airplanes.The researcher decides to use government records to randomly locate the owners of ten such planes and then get permission to test the altimeters.When the researcher is done, the data gathered from the group of ten will be used to reach conclusions about all small, privately owned airplanes.The average variation computed using the data gathered on the group of ten airplanes is best described as a ___.

A)measurement
B)data
C)statistic
D)parameter
E)census

Question 63

The Chamber of Commerce wants to assess its membership's opinions of the North American Free Trade Agreement.One-hundred of the 2,000 members are randomly selected and contacted by telephone.Seventy-five percent of respondents reported an overall favourable opinion, and twenty-five percent reported an overall unfavourable opinion.The proportion, 0.75, is a ___.

A)parameter
B)statistic
C)population
D)sample
E)frame

Question 64

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend.Specifically, the number of industrial customers is stable at 1,500, but they are purchasing less each year.She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers.One question on the survey asked the customers: "How many people does your company employ?" The measurement level for this question is ___.

A)interval level
B)ordinal level
C)nominal level
D)relative level
E)ratio level

Question 65

A consumer has been asked to rank five cars based upon their desirability.This level of measurement is ___.

A)interval level
B)ordinal level
C)nominal level
D)ratio level
E)relative level

Question 66

A market researcher is interested in determining the average income for families in Simcoe County, Ontario.To accomplish this, a random sample of 400 families is taken from the county and the data gathered is used to estimate the average income for families of the entire county.This process is an example of ___.

A)nonparametric statistics
B)nominal data
C)descriptive statistics
D)inferential statistics
E)census

Question 67

A researcher wants to know what the average variation is in altimeters of small, privately owned airplanes.The task of determining this is expensive and time-consuming, if even possible, given the large number of such airplanes.The researcher decides to use government records to randomly locate the owners of ten such planes and then get permission to test the altimeters.When the researcher is done the data gathered from the group of ten will be used to reach conclusions about all small, privately owned airplanes.This process can best be described as ___.

A)data statistics
B)research statistics
C)descriptive statistics
D)inferential statistics
E)nonparametric statistics

Question 68

A person has decided to code a particular set of sales data.A value of 0 is assigned if the sales occurred on a weekday, and a value of 1 means it happened on a weekend.This is an example of ___.

A)interval level data
B)ordinal level data
C)nominal level data
D)ratio level data
E)relative level data

Question 69

Which of the following operations is meaningful for processing ordinal data, but is meaningless for processing nominal data?

A)addition
B)multiplication
C)ranking
D)counting
E)division

Question 70

Morningstar Mutual Funds analyzes the risk and performance of mutual funds.Each mutual fund is assigned an overall rating of one to five stars.One star is the lowest rating, and five stars is the highest rating.This level of measurement is ___.

A)ordinal level
B)interval level
C)nominal level
D)ratio level
E)relative level

Question 71

The Magnolia Swimming Pool Company wants to determine the average number of years it takes before a major repair is required on one of the pools that the company constructs.The president of the company asks Rick Johnson, a company accountant, to randomly contact fifty families that built Magnolia pools in the past ten years and determine how long it was in each case until a major repair.The information will then be used to estimate the average number of years until a major repair for all pools sold by Magnolia.The average based on the data gathered from the fifty families can best be described as a ___.

A)parameter
B)sample
C)population
D)statistic
E)frame

Question 72

Which scale of measurement has these two properties: linear distance is meaningful and the location of origin (or zero point)is arbitrary?

A)interval level
B)ordinal level
C)nominal level
D)ratio level
E)minimal level

Question 73

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend.Specifically, the number of industrial customers is stable at 1,500, however they are purchasing less each year.She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers.One question on the survey asked the customers: "Which of the following best describes your primary business: a.manufacturing, b.wholesaler, c.retail, d.service." The measurement level for this question is ___.

A)interval level
B)ordinal level
C)nominal level
D)ratio level
E)relative level

Question 74

A level of data measurement that has an absolute zero is called ___.

A)interval level
B)ordinal level
C)nominal level
D)ratio level
E)relative level

Question 75

The Cascades Inc.has a plant in Winnipeg, Manitoba.Management wants to determine the average number of sick days taken per worker in this plant in 2022.To do this, management gathers records on all the workers in the plant and averages the number of sick days taken in 2022 by each worker.This process is using ___.

A)nonparametric statistics
B)nominal data
C)descriptive statistics
D)inferential statistics
E)a census

Question 76

What proportion of Calgary's registered voters favour trade restrictions with China? In an effort to determine this, a research team calls every registered voter in Calgary and asks if they favor trade restrictions with China.The proportion determined from the data gathered is a ___.

A)parameter
B)sample
C)population
D)statistic
E)frame

Question 77

Which scale of measurement has these two properties: linear distance is meaningful and the location of origin (or zero point)is absolute (or natural)?

A)interval level
B)ordinal level
C)nominal level
D)ratio level
E)relative level

Question 78

Which of the following operations is meaningful for processing nominal data?

A)addition
B)multiplication
C)ranking
D)counting
E)division

Question 79

The lowest level of data measurement is ___.

A)interval level
B)ordinal level
C)nominal level
D)ratio level
E)minimal level

Question 80

A question in a survey of microcomputer users asked: "Which operating system do you use most often: a.Apple OS 7, b.MS Windows Vista, c.MS Windows XP, d.UNIX." The measurement level for this question is ___.

A)nominal level
B)ordinal level
C)interval level
D)ratio level
E)relative level