Exam (elaborations)
Managerial Statistics International Edition 9th Edition by Gerald Keller - Test Bank
- Course
- Institution
Test Bank For Managerial Statistics International Edition 9th Edition by Gerald Keller Complete Test Bank
[Show more]
Seller
Follow
ExamsExpert
Reviews received
Content preview
,CHAPTER 1 SECTION 1: WHAT IS STATISTICS?TRUE/FALSE
1. The significance level measures the proportion of the time an inference about a population will be
correct in the long run.
ANS: F PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
2. A summary measure that is computed from a sample is called a statistic.
ANS: T PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
3. The confidence level is the proportion of times that an estimating procedure will be wrong in the long
run.
ANS: F PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
4. A resort employs 3,500 managers and staff. To ascertain their employees' opinions of a proposed
health insurance plan, 350 employees are surveyed at random. The proportion of the 350 employees
who favor the health insurance plan represents a parameter in this scenario.
ANS: F PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
5. In a sample of 350 students selected from a large college of business, 25% are found to be marketing
majors. The 25% is a statistic.
ANS: T PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
6. 35% of a sample of 300 professional baseball players indicated that their parents did not play baseball.
Based on this sample, we estimate that approximately 35% of the parents of all professional baseball
players did not play baseball, plus or minus 5%. This is an example of using inferential statistics.
ANS: T PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
7. A population is the group of all items of interest to a statistics practitioner.
ANS: T PTS: 1 REF: SECTION 1.1
© 2012 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different
from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
, NAT: Analytic; Statistical Inference
8. A statistic is typically a known quantity while a parameter is typically an unknown quantity.
ANS: T PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
9. Statistical inference is the process of making an estimate, prediction, or decision about a population
based on sample data.
ANS: T PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
10. A descriptive measure of a population is called a parameter.
ANS: T PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
11. A descriptive measure of a sample is called a parameter.
ANS: F PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
12. You take a random sample to estimate a population mean and your results have a confidence level of
80%. That means the process you used will give you correct results 80% of the time.
ANS: T PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
MULTIPLE CHOICE
13. A random sample of 100 students is taken at LearnAll University and it’s found that their average GPA
is 3.1. If this information is used to help estimate the average GPA for all students at LearnAll
University, which branch of statistics was applied?
a. Descriptive statistics
b. Inferential statistics
c. Sample statistics
d. Population statistics
ANS: B PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
© 2012 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different
from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
, 14. A company has developed a new computer microprocessor whose average lifetime is unknown. In
order to estimate this average, 300 microprocessors are randomly selected from a large production line
and tested; their average lifetime is found to be 7 years. The 300 microprocessors represent a:
a. parameter.
b. statistic.
c. sample.
d. population.
ANS: C PTS: 1 REF: SECTION 1.1
NAT: Analytic; Statistical Inference
© 2012 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different
from the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsExpert. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $30.60. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83662 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
Recently viewed by you
