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Verified Test Bank - Statistics for Managers by Levine []

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  • August 7, 2024
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Let's Get Started Big Things to Learn First



1. Th_e process of using data collected from a small group to reach conclusions about a large group is called

A. statistical inference.

B. DCOVA framework.

C. operational definition.

D. descriptive statistics.

Ans: A

Diff: Easy

Keywords: inferential statistics



2. Those methods involving th_e collection, presentation, and characterization of a set of data in order to properly
describe th_e various features of that set of data are called

A. statistical inference.

B. DCOVA framework.

C. operational definition.

D. descriptive statistics.

Ans: D

Diff: Easy

Keywords: descriptive statistics



3. Th_e collection and summarization of th_e socioeconomic and physical characteristics of th_e employees of a particular
firm is an example of

A. inferential statistics.

B. descriptive statistics.

C. operational definition.

D. DCOVA framework.

Ans: B

Diff: Easy

Keywords: descriptive statistics
1

,4. Th_e estimation of th_e population average family expenditure on food based on th_e sample average expenditure of
1,000 families is an example of

A. inferential statistics.

B. descriptive statistics.

C. DCOVA framework.

D. operational definition.

Ans: A

Diff: Easy

Keywords: inferential statistics




2

,5. Which of th_e following is not an element of descriptive statistical problems?

A. An inference made about th_e population based on th_e sample

B. Th_e population or sample of interest

C. Tables, graphs, or numerical summary tools

D. Identification of patterns in th_e data

Ans: A

Diff: Moderate

Keywords: descriptive statistics

6. A study is under way in Yosemite National Forest to determine th_e adult height of American pine trees. Specifically,
th_e study is attempting to determine what factors aid a tree in reaching heights greater than 60 feet tall. It is estimated
that th_e forest contains 25,000 adult American pines. Th_e study involves collecting heights from 250 randomly selected
adult American pine trees and analyzing th_e results. Identify th_e variable of interest in th_e study.

A. Th_e age of an American pine tree in Yosemite National Forest

B. Th_e height of an American pine tree in Yosemite National Forest

C. Th_e number of American pine trees in Yosemite National Forest

D. Th_e species of trees in Yosemite National Forest

Ans: B

Diff: Easy

Keywords: variable



7. Most analysts focus on th_e cost of tuition as th_e way to measure th_e cost of a college education. But incidentals,
such as textbook costs, are rarely considered. A researcher at Drummand University wishes to estimate th_e textbook
costs of first-year students at Drummand. To do so, she monitored th_e textbook cost of 250 first-year students and found
that their average textbook cost was $600 per semester. Identify th_e variable of interest to th_e researcher.

A. Th_e textbook cost of first-year Drummand University students

B. Th_e year in school of Drummand University students

C. Th_e age of Drummand University students

D. Th_e cost of incidental expenses of Drummand University students

Ans: A

Diff: Easy

Keywords: variable




3

, 8. True or False: Problems may arise when statistically unsophisticated users who do not understand th_e assumptions
behind th_e statistical procedures or their limitations are misled by results obtained from computer software.

Ans: TRUE

Diff: Easy

Keywords: statistical package



9. True or False: Managers need an understanding of statistics to be able to present and describe information accurately,
draw conclusions about large populations based on small samples, improve processes, and make reliable forecasts.

Ans: TRUE

Diff: Easy

Keywords: reasons for learning statistics



10. True or False: A professor computed th_e sample average exam score of 20 students and used it to estimate th_e
average exam score of th_e 1,500 students taking th_e exam. This is an example of inferential statistics.

Ans: TRUE

Diff: Easy

Keywords: descriptive statistics, inferential statistics

11. True or False: Using th_e number of registered voters who turned out to vote for th_e primary in Iowa to predict th_e
number of registered voters who will turn out to vote in Vermont's primary is an example of descriptive statistics.

Ans: FALSE

Diff: Easy

Keywords: descriptive statistics, inferential statistics



12. True or False: Compiling th_e number of registered voters who turned out to vote for th_e primary in Iowa is an
example of descriptive statistics.

Ans: TRUE

Diff: Easy

Keywords: descriptive statistics, inferential statistics



13. Th_e Human Resources Director of a large corporation wishes to develop an employee benefits package and decides
to select 500 employees from a list of all (N = 40,000. workers in order to study their preferences for th_e various
components of a potential package. In this study, methods involving th_e collection, presentation, and characterization of
th_e data are called ________.


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