Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

A market research analyst has asked consumers to rate the appearance of a new package on a scale of 1 to 5.A 1 means that the appearance is awful while a 5 means that it is excellent.The level of this data is usually considered ___.

Accepted Answer

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

Question 3

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 ___.

Accepted Answer

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

Question 4

How much inventory do Christmas tree sales lots keep? A researcher goes from location to location around the city counting the number of trees in each lot.These numbers most likely represent what level of data?

Accepted Answer

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

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

The need for new methodologies and processing techniques regarding business data has arisen because _____________

Accepted Answer

A) big data sources have become too large and complex. 
B) privacy issues related to business data sources. 
C) national security concerns regarding data sources. 
D) the lack of industry needs for big data sources. 
E) decrease in availability of data.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Utilizing visual technology to convey information to a diverse audience with a wide range of backgrounds would be an example of _______________.

Accepted Answer

A) data mining 
B) prescriptive visualization 
C) data visualization 
D) velocity analytics 
E) network analysis

Question 11

After acquiring a major investment firm, managers of the acquiring company needed a process to transform the mountains of the acquired company's data into useful business information.This can be done with _________________.

Accepted Answer

A) extracting management 
B) visualization analytics 
C) data mining 
D) tableau-produced analytics 
E) spectrum mining

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

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 ___.

Accepted Answer

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

Question 14

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 ___.

Accepted Answer

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 15

The ultimate goal of data mining is

Accepted Answer

A) to make data accessible and usable to the business analyst 
B) to provide visual representation of data 
C) to develop a database management system 
D) to study frequency distributions 
E) to draw a distinction between variety and velocity

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

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 18

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 ___.

Accepted Answer

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 19

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

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 1: Introduction to Statistics

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

A market research analyst has asked consumers to rate the appearance of a new package on a scale of 1 to 5.A 1 means that the appearance is awful while a 5 means that it is excellent.The level of this data is usually considered ___.

How much inventory do Christmas tree sales lots keep? A researcher goes from location to location around the city counting the number of trees in each lot.These numbers most likely represent what level of data?

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

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

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

The need for new methodologies and processing techniques regarding business data has arisen because _____________

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

Utilizing visual technology to convey information to a diverse audience with a wide range of backgrounds would be an example of _______________.

After acquiring a major investment firm, managers of the acquiring company needed a process to transform the mountains of the acquired company's data into useful business information.This can be done with _________________.

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

The ultimate goal of data mining is

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

Data visualization is a strategy used to:

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 ___.

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

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