Deck 1: Statistics and Data

Question 1

A qualitative variable assumes meaningful numerical values.

Answer 1

False

Question 2

Unstructured data conforms to a predefined row-column format.

Answer 2

True

Question 3

Population parameters are used to estimate corresponding sample statistics.

Answer 3

False

Question 4

Many people believe that statistics has no use in real life.

Question 5

A population is a larger data set than its corresponding sample.

Question 6

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

Question 7

A discrete variable cannot assume an infinite number of values.

Question 8

Both discrete and continuous variables may assume an uncountable number of values.

Question 9

Structured data tends to include numbers, dates, and groups of words and numbers called strings.

Question 10

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

Question 11

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

Question 12

A knowledge of statistics provides the necessary tools to differentiate between sound and questionable conclusions.

Question 13

A continuous variable assumes any value from an interval (or collection of intervals).

Question 14

The weather forecast cannot be based on only the weather for the last three days.

Question 15

Cross-sectional data contain values of a characteristic of one subject collected over time.

Question 16

Time series data contain values of a characteristic of a subject over time.

Question 17

Big data is a catchphrase that implies a complete set of population data.

Question 18

Typically, it is possible to examine every member of the population.

Question 19

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

Question 20

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

Question 21

When reading published statistics (numerical facts), you should

A) never believe what you read, because all statistics are lies.
B) only believe those statistics that are adequately supported.
C) believe what you read, because they wouldn't be published if they weren't correct.
D) only believe those statistics that are presented in so-called quality publications.

Question 22

Population parameters are difficult to calculate due to

A) cost prohibitions on data collection.
B) the infeasibility of collecting data on the entire population.
C) the fact that samples are difficult to draw due to the nature of the data.
D) both cost prohibitions on data collection and the infeasibility of collecting data on the entire population.

Question 23

The zero point of an interval scale reflects a complete absence of what is being measured.

Question 24

The recorded body temperature of patients in the group of patients under research study is an example of time series data.

Question 25

Data and data interpretation do not show up in every facet of life.

Question 26

A respondent to a survey indicates that she drives a Nissan Pathfinder. This is an example of qualitative data.

Question 27

All mathematical operations can be performed on ratio-scaled data.

Question 28

In inferential statistics, we calculate statistics of sample data to

A) estimate unknown population parameters.
B) conduct tests about unknown population parameters.
C) Both of these choices are correct.
D) Neither of these choices is correct.

Question 29

A ZIP code is an example of quantitative data.

Question 30

The two branches of the study of statistics are generally referred to as

A) descriptive and inferential statistics.
B) inferential and differential statistics.
C) descriptive and referential statistics.
D) differential and descriptive statistics.

Question 31

Researchers use sample results in an attempt to estimate an unknown population statistic.

Question 32

The mathematical operation of addition can be performed on nominal data.

Question 33

Nominal and interval scales are used for qualitative variables.

Question 34

Ordinal scale reflects a stronger level of measurement than the nominal scale.

Question 35

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

A) Sample statistic
B) Sample parameter
C) Population statistic
D) Population parameter

Question 36

Body weight is an example of a discrete variable.

Question 37

A population consists of

A) all items of interest in a sample.
B) a subject of interest in a sample.
C) all items of interest in a statistical problem.
D) a subject of interest in a statistical problem.

Question 38

Which of the following represents a population and a sample from that population?

A) Residents of Albany, New York, and registered voters in Albany, New York
B) Teachers of a high school and members of the parent-teacher group
C) Fans at a concert who purchase T-shirts, and fans at a concert who purchase soda
D) Freshmen at St. Joseph's University and basketball players at St. Joseph's University

Question 39

The study of statistics can be defined as

A) the language of data.
B) the art and science of getting information from data.
C) the study of collecting, analyzing, presenting, and interpreting data.
D) All of these choices are correct.

Question 40

A population is defined as all possible subjects of a specific group.

Question 41

Which of the following variables is quantitative?

A) Gender
B) Temperature
C) Marital status
D) Religious affiliation

Question 42

Which of the following represents a population and a sample from that population?

A) Attendees at a sporting event, and those who purchased popcorn at said sporting event
B) Full-time employees at a marketing firm, and temporary summer interns at the marketing firm
C) Seniors at Boston College and students in a first-semester business statistics course
D) Stocks available on the NYSE and stocks on the NASDAQ

Question 43

An analyst collects data on the weekly closing price of gold throughout a year. The scale of this data is

A) ratio scale.
B) ordinal scale.
C) interval scale.
D) nominal scale.

Question 44

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

A) The average height of NBA players
B) The average life of light bulbs produced by a manufacturer
C) The average content of cereal boxes produced by a manufacturer
D) The percentage of the U.S. public school teachers who support Democrats

Question 45

Which of the following is an example of cross-sectional data?

A) GDP of the United States from 1990-2010
B) Daily price of DuPont stock during the first quarter
C) Quarterly housing starts collected over the last 60 years
D) Results of market research testing consumer preferences for soda

Question 46

The ordinal scale of data measurement is

A) less sophisticated than the nominal scale.
B) more sophisticated than the interval scale.
C) more sophisticated than the nominal scale.
D) as equally sophisticated as the nominal scale.

Question 47

A recent survey of 200 small firms (annual revenue less than $10 million) asked whether an increase in the minimum wage would cause the firm to decrease capital spending. Possible responses to the survey question were: "Yes," "No," or "Don't Know." This data is best classified as

A) ratio scale.
B) ordinal scale.
C) interval scale.
D) nominal scale.

Question 48

The estimation of which of the following requires sampling?

A) U.S. unemployment rate
B) Total rainfall in Phoenix, Arizona, in 2010
C) The Cleveland Indians' hitting percentage in 2010
D) The average SAT score of incoming freshmen at a university

Question 49

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

A) time series data.
B) cross-sectional data.
C) neither time series nor cross-sectional data.
D) a combination of time series and cross-sectional data.

Question 50

The interval scale of data measurement is

A) less sophisticated than the ratio scale.
B) more sophisticated than the ratio scale.
C) less sophisticated than the ordinal scale.
D) equally sophisticated as the ratio scale because both are appropriate for quantitative data.

Question 51

San Francisco 49ers' linebacker Patrick Willis won the Defensive Rookie of the Year Award in 2007 with a total of 174 tackles. Tackles are measured on what kind of a scale? Is a variable measuring the number of tackles considered continuous or discrete?

A) Ratio scale; discrete
B) Interval scale; discrete
C) Ratio scale; continuous
D) Interval scale; continuous

Question 52

A company wants to estimate the mean price of oil over the past 10 years. What kind of data does the company need?

A) Time series data
B) Inferential statistics
C) Cross-sectional data
D) Descriptive statistics

Question 53

Which scale of data measurement is appropriate for the names of companies listed on the Dow Jones Industrial Average?

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

Question 54

Which of the following is a quantitative variable?

A) House age
B) House size
C) House price
D) All of these choices are correct.

Question 55

Which type of data, cross-sectional versus time series, is more important to research?

A) Neither type of data is important.
B) Cross-sectional data is more important than time series data.
C) Time series data is more important than cross-sectional data.
D) Time series data and cross-sectional data are equally as valuable in different types of research.

Question 56

Sampling is used heavily in manufacturing and service settings to ensure high-quality products. In which of the following areas would sampling be inappropriate?

A) Computer assembly
B) Custom cabinet making
C) Cell phone manufacturing
D) Technical support by phone

Question 57

Which of the following variables is qualitative?

A) Height
B) Gender
C) Weight
D) Temperature

Question 58

Which of the following are examples of cross-sectional data?

A) The test scores of students in a class
B) The current average prices of regular gasoline in different states
C) The sales prices of single-family homes sold last month in California
D) All of these choices are correct.

Question 59

Which of the following variables is not continuous?

A) Height of NBA players
B) Time of a flight between Atlanta and Chicago
C) Average temperature in the month of July in Orlando
D) The number of obtained heads when a fair coin is tossed 20 times

Question 60

Which of the following is an example of time series data?

A) The sale prices of townhouses sold last year
B) Quarterly housing starts collected over the last 60 years
C) Results of market research testing consumer preferences for soda
D) Starting salaries of recent business graduates at Penn State University

Question 61

At the end of a semester college students evaluate their instructors by assigning them to one of the following categories: Excellent, Good, Average, Below Average, and Poor. The measurement scale is a(n)

A) ratio scale.
B) ordinal scale.
C) interval scale.
D) nominal scale.

Question 62

A ________ represents all possible subjects of interest.

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

Question 63

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

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

Question 64

Your business statistics class had a test last week. The average score for the class is an example of

A) secondary data
B) qualitative data
C) descriptive statistics
D) inferential statistics

Question 65

When a characteristic of interest differs among various observations, then it can be termed a

A) parameter.
B) variable.
C) data.
D) information.

Question 66

The Fahrenheit scale for measuring temperature would be classified as a(n)

A) ratio scale.
B) ordinal scale.
C) interval scale.
D) nominal scale.

Question 67

A major portion of ________ is concerned with the problem of estimating population parameters or testing hypothesis about such parameters.

A) descriptive statistics
B) population statistics
C) inferential statistics
D) business statistics

Question 68

Which of the following is an example of quantitative data?

A) The ZIP code of your home address
B) Google's closing stock price today
C) Your gender
D) Your Social Security number

Question 69

Which of the following scales represents the least sophisticated level of measurement?

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

Question 70

Differences between categories are meaningless with ________ data.

A) ordinal
B) interval
C) ratio
D) continuous

Question 71

Which scales of data measurement are associated with quantitative data?

A) Interval and ratio
B) Ratio and nominal
C) Ordinal and interval
D) Nominal and ordinal

Question 72

A sample statistic is an estimate of

A) population parameter.
B) population statistic.
C) sample parameter.
D) descriptive statistic.

Question 73

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

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

Question 74

The data represents the stock price for Google at the end of the past four quarters. Which of the following types of data best describe these values?

A) Cross-sectional
B) Nominal
C) Time series
D) Ordinal

Question 75

The values of data on a(n) ________ scale can be categorized and ranked.

A) ordinal
B) nominal
C) ratio
D) interval

Question 76

Data that describe a characteristic about a sample is known as a

A) population.
B) survey.
C) parameter.
D) statistic.

Question 77

Which of the following scales represents the strongest level of measurement?

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

Question 78

A(n) ________ variable is characterized by infinitely uncountable values and can take any value within interval.

A) discrete
B) infinite
C) continuous
D) quantitative

Question 79

Which data scales of measurement are associated with qualitative data?

A) Interval and ratio
B) Ratio and nominal
C) Ordinal and interval
D) Nominal and ordinal

Question 80

Which of the following characteristics does the interval scale not have?

A) Values can be categorized.
B) Values can be ranked.
C) There is a true zero point.
D) The differences between values are valid.