Deck 1: An Introduction to Business Statistics

Question 1

Processes produce outputs over time.

Answer 1

True

Question 2

The number of sick days per month taken by employees for the last 10 years at Apex Co.is an example of time series data.

Answer 2

True

Question 3

It is possible to use a random sample from a population to make statistical inferences about the entire population.

Answer 3

True

Question 4

Using a nonrandom sample procedure in order to support a desired conclusion is an example of an unethical statistical procedure.

Question 5

An example of a qualitative variable is the mileage of a car.

Question 6

Daily temperature in a local community collected over a 30-day time period is an example of cross-sectional data.

Question 7

Statistical inference is the science of using a sample of measurements to make generalizations about the important aspects of a population of measurements.

Question 8

In an experimental study,the aim is to manipulate or set the value of the response variable.

Question 9

A random sample is selected so that every element in the population has the same chance of being included in the sample.

Question 10

In a data set of information on college business students,an example of an element is their cumulative GPA.

Question 11

A quantitative variable can also be referred to as a categorical variable.

Question 12

Cross-sectional data are data collected at the same point in time.

Question 13

If we examine some of the population measurements,we are conducting a census of the population.

Question 14

Selecting many different samples and running many different tests can eventually produce a result that makes a desired conclusion be true.

Question 15

In an observational study,the variable of interest is called a response variable.

Question 16

The science of describing the important aspects of a set of measures is called statistical inference.

Question 17

An example of a quantitative variable is the manufacturer of a car.

Question 18

A population is a set of existing units.

Question 19

The number of sick days taken by employees in 2008 for the top 10 technology companies is an example of time series data.

Question 20

Time series data are data collected at the same time period.

Question 21

Errors of non-observation occur when data values are recorded incorrectly.

Question 22

The term big data was derived from the use of survey data.

Question 23

Secondary data are data taken from an existing source.

Question 24

A common practice in selecting a sample from a large geographic area is multistage cluster sampling.

Question 25

In systematic sampling,the first element is randomly selected from the first (N/n)elements.

Question 26

Judgment sampling occurs when a person who is extremely knowledgeable about the population under consideration selects the population element(s)that they feel is(are)most representative of the population.

Question 27

Data warehousing is defined as a process of centralized data management and retrieval.

Question 28

Business analytics uses methods that are not part of traditional statistics to look at big data.

Question 29

In order to select a stratified random sample,we divide the population into overlapping groups of similar elements.

Question 30

Primary data are data collected by an individual.

Question 31

Sampling error occurs because a mean of a random sample can not exactly equal the population mean that we are attempting to estimate.

Question 32

Judgment sampling is an example of convenience sampling.

Question 33

By taking a systematic sample in which we select every 100th shopper arriving at a specific store,we are approximating a random sample of shoppers.

Question 34

Sampling error can occur because of incomplete information.

Question 35

A recording error is an error of observation.

Question 36

A statistical model is a set of assumptions based solely on the sample data that have been selected.

Question 37

The target population is the result of sampling from the original population that is of interest to the researcher.

Question 38

Stratification can at times be combined with multistage cluster sampling to develop an appropriate sample.

Question 39

A low response rate has no effect on the validity of a survey's findings.

Question 40

If we sample without replacement,we do not place the unit chosen on a particular selection back into the population.

Question 41

Which of the following is not a method of predictive analytics?

A) factor detection
B) outlier detection
C) bullet graphs
D) association learning

Question 42

A ____________ is a set of assumptions about how sample data are selected and about the population from which the sample data are selected.

A) random sampling
B) statistical model
C) descriptive statistics
D) probability sampling

Question 43

Prescriptive analytics involve methods used to find anomalies,patterns,and associations in data sets with the purpose of predicting future outcomes.

Question 44

A population that consists of all the customers who will use the drive-thru of the local fast food restaurant is called a(n)_____________.

A) infinite population
B) random sample population
C) statistical population
D) finite population

Question 45

_____________ occurs when some population elements are excluded from the process of selecting the sample.

A) Non-response
B) Error of observation
C) Undercoverage
D) Sampling error

Question 46

Methods for obtaining a sample are called

A) sample surveys.
B) probability sampling.
C) random sampling.
D) sampling designs.

Question 47

__________ consists of a set of concepts and techniques that are used to describe populations and samples.

A) Traditional statistics
B) Random sampling
C) Data mining
D) Time series analysis

Question 48

Non-overlapping groups in random sampling of a population are called

A) clusters.
B) frames.
C) strata.
D) stages.

Question 49

Transactional data are now used by businesses as part of

A) survey analysis.
B) big data.
C) descriptive statistics.
D) experimental studies.

Question 50

Data that are collected by an individual through personally planned experimentation or observation are _____________.

A) secondary data
B) quantitative data
C) primary data
D) variables

Question 51

A _____ is a list of all the units in a population.

A) sample
B) frame
C) census
D) variable

Question 52

A Yes or No question is _____________.

A) dichotomous
B) evaluative
C) open-ended
D) systematic

Question 53

Which of the following is a type of question used in survey research?

A) dichotomous
B) free response
C) rating
D) All of the other answers are correct.

Question 54

Which of the following is a quantitative variable?

A) the manufacturer of a cell phone
B) a person's gender
C) mileage of a car
D) whether a person is a college graduate
E) whether a person has a charge account

Question 55

Which of the following is not a supervised learning technique in predictive analytics?

A) linear regression
B) factor analysis
C) decision trees
D) neural networks

Question 56

___________ sampling is where we know the chance that each element will be included in the sample,which allows us to make statistical inferences about the sample population.

A) Convenience
B) Voluntary
C) Probability
D) Judgment

Question 57

When we are choosing a random sample and we do not place chosen units back into the population,we are

A) sampling with replacement.
B) sampling without replacement.
C) using a systematic sample.
D) using a voluntary response sample.

Question 58

A ratio variable has the following characteristic.

A) meaningful order
B) inherently defined zero value
C) categorical in nature
D) predictable

Question 59

_____________ is the difference between a numerical description of the population and the corresponding descriptor of the sample.

A) Sampling error
B) Non-observation error
C) Observation error
D) Non-response

Question 60

_________ uses traditional or newer graphics to present visual summaries of business information.

A) Predictive analytics
B) Data mining
C) Association learning
D) Descriptive analytics

Question 61

Which of the following is a categorical variable?

A) air temperature
B) bank account balance
C) daily sales in a store
D) whether a person has a traffic violation
E) value of company stock

Question 62

Any characteristic of an element is called a ____________.

A) set
B) process
C) variable
D) D)census

Question 63

An identification of police officers by rank would represent a(n)____________ level of measurement.

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

Question 64

Statistical ____________ refers to using a sample of measurements and making generalizations about the important aspects of a population.

A) sampling
B) process
C) analysis
D) inference

Question 65

Jersey numbers of soccer players is an example of a(n)___________ variable.

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

Question 66

A ___________ is a display of individual measurements versus time.

A) runs plot
B) statistical analysis
C) random sample
D) measurement

Question 67

The number of miles a truck is driven before it is overhauled is an example of a(n)_____________ variable.

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

Question 68

A person's telephone area code is an example of a(n)_____________ variable.

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

Question 69

Measurements from a population are called

A) elements.
B) observations.
C) variables.
D) processes.

Question 70

College entrance exam scores,such as SAT scores,are an example of a(n)_____________ variable.

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

Question 71

A(n)_____________ variable is a qualitative variable such that there is no meaningful ordering or ranking of the categories.

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

Question 72

The process of assigning a value of a variable to each element in a data set is called ___________.

A) sampling
B) measurement
C) experimental analysis
D) observational analysis

Question 73

Any characteristic of a population unit is a(n)

A) measurement.
B) sample.
C) observation.
D) variable.

Question 74

__________ is a necessary component of a runs plot.

A) Observation over time
B) Qualitative variable
C) Random sampling of the data
D) Cross-sectional data

Question 75

A ____________ is a subset of the units in a population.

A) census
B) process
C) sample
D) variable

Question 76

Examining all population measurements is called a_____________.

A) census
B) frame
C) sample
D) variable

Question 77

Temperature (in degrees Fahrenheit)is an example of a(n)__________ variable.

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

Question 78

______________ is the science of using a sample to make generalizations about the important aspects of a population.

A) Time series analysis
B) Descriptive statistics
C) Random sample
D) Statistical inference

Question 79

The two types of quantitative variables are

A) ordinal and ratio.
B) interval and ordinal.
C) nominative and ordinal.
D) interval and ratio.
E) nominative and interval.

Question 80

The weight of a chemical compound used in an experiment that is obtained using a well-adjusted scale represents a(n)_____________ level of measurement.

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