Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

By transforming data from social media and competitors, an analyst was able to identify a relationship between an increase in the number of positive online comments about the company and negative marketing ads from its competitors.This relationship was most likely found through _____________ .

Accepted Answer

A) the process of data visualization 
B) the production of data 
C) the process of data elimination 
D) the process of data mining 
E) the managing of data mining

Question 3

A market researcher is interested in determining the average income for families in Duval County, Florida.To accomplish this, she takes a random sample of 400 families from the county and uses the data gathered from them to estimate the average income for families in the entire county.This process is an example of _______.

Accepted Answer

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

Question 4

Data visualization is a strategy used to:

Accepted Answer

A) help analysts see the data points 
B) convey information as a visual object 
C) arrange data so that it can be imported into a statistical analysis program 
D) plan a research project 
E) transform data into inferential statistics

Question 5

Grades on a test range from 0 to 100.This level of data is _______.

Accepted Answer

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

Question 6

A book publisher uses statistics in decision-making.Of the following statistics, which would this publisher not consider in their decisions?

Accepted Answer

A) Trends in purchases of hard copy and ebooks. 
B) The cost of paper. 
C) Trends in attendance at book clubs 
D) Trends in local grocery stores 
E) Revenue of competitors

Question 7

You are the owner of a camping site and want to estimate the average age of your customers.For this purpose, you select a representative sample of your clients and offer them a discount on their next visit as compensation for filling out a short questionnaire that includes relevant age intervals: "Your age is (a)30 or younger, (b)30 to 40, (c)40 to 50, (c)50 to 60, (d)60 or older." This is an example of _______.

Accepted Answer

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

Question 8

Which types of data are normally called nonmetric data?

Accepted Answer

A) Interval or ratio level data 
B) Ordinal or nominal level data 
C) Nominal or ratio level data 
D) Ratio or ordinal level data 
E) Relative or ratio level data

Question 9

A local manufacturing plant randomly selected 200 items from a production run and 9 of them are defective.The proportion of defective items in this sample is a ________.

Accepted Answer

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

Question 10

The process of finding data from numerous sources can be defined as ________________.

Accepted Answer

A) descriptive analytics 
B) data extraction 
C) data visualization 
D) big data 
E) artificial intelligence

Question 11

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 __________________.

Accepted Answer

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 12

Which of the following is not a random variable when flipping a coin?

Accepted Answer

A) Assigning 1 when Tail and 0 when Head 
B) Assigning 0 when Head and 1 when Tail 
C) The list of outcomes Head and Tail 
D) The number of Heads 
E) Assigning 1 when Tail or Head

Question 13

A news report states that sales of U.S.homes declined 3% during the previous month.Which type of business would be most likely to include this information in their business decisions?

Accepted Answer

A) car manufacturer 
B) business attire 
C) lumber company 
D) deli stores 
E) gas and oil companies

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

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

Question 16

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.One question on the survey asked the customers: "How many people does your company employ? The measurement level for this question is __________.

Accepted Answer

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

Question 17

A business manager has access to a large data set that includes complex information that would be difficult to process with traditional data management.These data would be referred to as __________,

Accepted Answer

A) big data 
B) business data 
C) mega data 
D) business analytics 
E) mined data

Question 18

Which of the following statements about business statistics is not true?

Accepted Answer

A) Virtually every area of business uses statistics in decision making. 
B) Presenting business statistics always requires the use of a specific graph called a bar chart. 
C) There is a wide variety of uses and applications of statistics in business. 
D) Business statistics can be used to forecast future values and predict trends.

Question 19

To improve usability and searchability, data are usually sorted into ______________.

Accepted Answer

A) columns and rows 
B) graphics and plots 
C) bar graphs and charts 
D) visualization and ranges 
E) dots and lines

Question 20

A CEO wants to depict information in creative ways by effectively using bars charts and line graphs.This strategy is an example of ____________:

Accepted Answer

A) data extraction 
B) data mining 
C) data interpretation 
D) data visualization 
E) data elimination

Exam 1: Introduction to Statistics and Business Analytics