Question 1

What does a plausible numeric value refer to in quantitative research?

Accepted Answer

A plausible numeric value refers to a value that is realistic for a particular topic.

Question 2

What are "naked numbers" as defined by the author?

Accepted Answer

Naked numbers are those reported without any context, meaning they are presented without any explanation or background information that would help to understand their significance or relevance.

Question 3

What could be the primary challenges in making sense of numbers?

Accepted Answer

C

Question 4

You are reading a report of rental values of homes in Tel Aviv, Israel in order to plan a trip to the city. Which type of challenge may make making sense of the numbers in the report difficult?

Accepted Answer

The answer of You are reading a report of rental...

Question 5

The average height of locals was collected in a small town from a sample group from the town. What type of challenge could be encountered in making sense of this number if the composition of the sample is not known?

Accepted Answer

Without knowing the composition of the sample, it's challenging to understand the context of the average height data, such as the age range, gender distribution, or other demographic factors that could significantly influence the average height.

Question 6

The normal body temperature of humans has been found to fall from 98.6°F to 97.5°F over the last several decades. What type of factor is this for interpreting human body temperature?

Accepted Answer

The answer of The normal body temperature of humans has...

Question 7

As a chemistry major in college, you learned how to use the periodic table of elements. Which type of learning does this fall under?

Accepted Answer

Learning how to use the periodic table of elements in a college setting as a chemistry major typically involves structured courses and curriculum, which is categorized as formal instruction.

Question 8

What is the primary reason for learning research concepts and critical thinking skills?

Accepted Answer

Learning research concepts and critical thinking skills primarily helps individuals interpret and understand unknown topics, enabling them to analyze information critically and make informed decisions.

Question 9

Which of the following is not considered a quantitative research task?

Accepted Answer

Quantitative research focuses on numerical and statistical analysis. Providing opinions on data is more aligned with qualitative research, which deals with interpretations, opinions, and subjective assessments.

Question 10

Which of the following is not one of the many uses of numbers?

Accepted Answer

Numbers are primarily used for quantitative analysis, such as interpreting real-world issues, making decisions based on data, and identifying misinformation. Understanding a philosophy, however, is more abstract and typically involves qualitative analysis, making it less reliant on numerical data.

Question 11

Which of the following is a critical objective of quantitative research?

Accepted Answer

Avoiding common errors of logic and calculation is a critical objective of quantitative research because it helps to ensure the accuracy and validity of the research findings.

Question 12

You are interested in purchasing a new mid-size car that is fuel efficient. You do some research on five car models to make an informed choice. Which type of task is this as regard to numbers?

Accepted Answer

Making a decision involves evaluating options based on criteria such as fuel efficiency, which is the goal in this scenario.

Question 13

Your economics professor has given you an assignment to comment on the economic growth rate of Croatia during the last decade. Which type of task is this as regard to numbers?

Accepted Answer

Analyzing data involves examining and interpreting data to understand trends, patterns, or insights, such as evaluating Croatia's economic growth rate over a decade.

Question 14

Michael works in a market research firm and he has been included in a team to conduct a survey of consumer preferences for four brands of toothpaste. Which type of task is this as regard to numbers?

Accepted Answer

Conducting a survey to understand consumer preferences involves collecting data on those preferences, which is why option C is the correct answer.

Question 15

You have been assigned the task of explaining the results of a statistical model developed by the data science team in your company to a larger audience within the company. Which type of task is this as regard to numbers?

Accepted Answer

Explaining the results of a statistical model to a larger audience falls under the task of communicating results. This involves interpreting the data analysis and presenting it in a way that is understandable to those who may not have a technical background in data science.

Question 16

A person tells you that the weather in Miami this morning is 31°. What type of challenge does this information pose?

Accepted Answer

The challenge is related to the unit of measurement. The temperature could be in Celsius or Fahrenheit, which significantly changes the interpretation of the weather condition.

Question 17

You are tasked to analyze data for seven local grocery stores in Harlem, NY. The variables in the data given are sales in dollars, month of the year, and location of the store. What type of challenge does the sales variable pose?

Accepted Answer

The sales variable poses a unit challenge because it involves analyzing numerical values (dollars) which can vary in magnitude and require appropriate scaling or normalization for meaningful comparison or analysis.

Question 18

On a visit to London, you read in the papers that England scored 132 runs against Australia in a cricket test match. You are not familiar with cricket. What type of challenge does this data pose?

Accepted Answer

The answer of On a visit to London, you read...

Question 19

Peter is a medical student and does not have a background in finance. He reads an article in a financial journal that the Internal Rate of Return (IRR) of a stock portfolio is 3%. What type of challenge does this number present?

Accepted Answer

The IRR of 3% presents a challenge in understanding whether this is a good or bad return without additional context, such as the risk of the investment or comparison to a benchmark.

Question 20

A new employee at FICO learns about the FICO score and interpretation of its ranges at a training session. What type of learning did this entail?

Accepted Answer

The answer of A new employee at FICO learns about...

Quiz 1: Introduction to Making Sense of Numbers