Test Bank For Business Statistics For Contemporary Decision Making 8th Edition By Black
3 views 0 purchase
Course
Business Statistics - Test Bank
Institution
Business Statistics - Test Bank
File: ch03, Chapter 3: Descriptive Statistics
True/False
1. Statistical measures used to yield information about the center or the middle parts of a group of numbers are called the measures of central tendency.
Ans: True
Response: See section 3.1 Measures of Central Tendency: Ungroupe...
,File: ch01, Chapter 1: Introduction to Statistics
True/False
1. Virtually all areas of business use statistics in decision making.
Ans: True
Response: See section 1.1, Statistics in Business
Difficulty: Easy
Learning Objective: 1.1: List quantitative and graphical examples of statistics within a business context.
2. Statistics can be used to predict the business future.
Ans: True
Response: See section 1.1, Statistics in Business
Difficulty: Easy
Learning Objective: 1.1: List quantitative and graphical examples of statistics within a business context.
3. Statistics are used to market vitamins.
Ans: True
Response: See section 1.1, Statistics in Business
Difficulty: Easy
Learning Objective: 1.1: List quantitative and graphical examples of statistics within a business context.
4. A list of final grades in an introductory class in business is an example of statistics
Ans: false
Response: See section 1.1, Statistics in Business
Difficulty: Easy
Learning Objective: 1.1: List quantitative and graphical examples of statistics within a business context.
5. The complete collection of all entities under study is called the sample.
Ans: False
Response: See section 1.2, Basic Statistical Concepts
Difficulty: Easy
Learning Objective: 1.2: define important statistical terms, including population, sample, and parameter,
as they relate to descriptive and inferential statistics.
6. A portion or subset of the entities under study is called the statistic.
Ans: False
Response: See section 1.2, Basic Statistical Concepts
Difficulty: Easy
Learning Objective: 1.2: define important statistical terms, including population, sample, and parameter,
as they relate to descriptive and inferential statistics.
,7. A descriptive measure of the population is called a parameter.
Ans: True
Response: See section 1.2, Basic Statistical Concepts
Difficulty: Easy
Learning Objective: 1.2: define important statistical terms, including population, sample, and parameter,
as they relate to descriptive and inferential statistics.
8. A census is the process of gathering data on all the entities in the population.
Ans: True
Response: See section 1.2, Basic Statistical Concepts
Difficulty: Easy
Learning Objective: 1.2: define important statistical terms, including population, sample, and parameter,
as they relate to descriptive and inferential statistics.
9. Statistics is commonly divided into two branches called descriptive statistics and summary statistics.
Ans: False
Response: See section 1.2, Basic Statistical Concepts
Difficulty: Easy
Learning Objective: 1.2: define important statistical terms, including population, sample, and parameter,
as they relate to descriptive and inferential statistics.
10. A descriptive measure of the sample is called a statistic.
Ans: True
Response: See section 1.2, Basic Statistical Concepts
Difficulty: Easy
Learning Objective: 1.2: define important statistical terms, including population, sample, and parameter,
as they relate to descriptive and inferential statistics.
11. Gathering data from a sample to reach conclusions about the population from which the sample was
drawn is called descriptive statistics.
Ans: False
Response: See section 1.2, Basic Statistical Concepts
Difficulty: Medium
Learning Objective: 1.2: define important statistical terms, including population, sample, and parameter,
as they relate to descriptive and inferential statistics.
12. Calculation of population parameters is usually either impossible or excessively time consuming and
costly.
Ans: True
Response: See section 1.2, Basic Statistical Concepts
Difficulty: Easy
Learning Objective: 1.2: define important statistical terms, including population, sample, and parameter,
as they relate to descriptive and inferential statistics.
, 13. The basis for inferential statistics is the ability to make decisions about population parameters without
having to complete a census of the population.
Ans: True
Response: See section 1.2, Basic Statistical Concepts
Difficulty: Easy
Learning Objective: 1.2: define important statistical terms, including population, sample, and parameter,
as they relate to descriptive and inferential statistics.
14. A variable is a numerical description of each of the possible outcomes of an experiment.
Ans: True
Response: See section 1.3 Variable and data
Difficulty: Medium
Learning Objective: 1.3: Explain the difference between variables, measurement, and data.
15. Variables and measurement data are interchangeable terms.
Ans: False
Response: See section 1.3 Variable and data
Difficulty: Medium
Learning Objective: 1.3: Explain the difference between variables, measurement, and data.
16. Measurements occur when a standard process is used to assign numbers to attributes or characteristics
of a variable.
Ans: True
Response: See section 1.3 Variable and data
Difficulty: Medium
Learning Objective: 1.3: Explain the difference between variables, measurement, and data.
17. All numerical data must be analyzed statistically in the same way because all of them are represented
by numbers.
Ans: False
Response: See section 1.4, Data Measurement
Difficulty: Medium
Learning Objective: 1.4: Compare the four different levels of data: nominal, ordinal, interval, and ratio.
18. The manner in which numerical data can be analyzed statistically depends on the level of data
measurement represented by numbers being analyzed.
Ans: True
Response: See section 1.4, Data Measurement
Difficulty: Medium
Learning Objective: 1.4: Compare the four different levels of data: nominal, ordinal, interval, and ratio.
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 $29.89. You're not tied to anything after your purchase.
