Question 1

Data that is often used by a business for comparative purposes,marketing projects,and economic analyses would be categorized as ________.

Accepted Answer

A) internal data 
B) special studies 
C) ordinal data 
D) external data 
A) internal data 
B) special studies 
C) ordinal data 
D) external data D

Question 2

By analyzing and extracting meaning from data to support evaluation and decision making,companies gather ________.

Accepted Answer

A) variables 
B) data 
C) information 
D) metrics 
A) variables 
B) data 
C) information 
D) metrics C

Question 3

Measures of temperature using the Fahrenheit scale is an example of ________ data.

Accepted Answer

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

Question 4

The process of developing likely estimates of future values based on historical data is called ________.

Accepted Answer

A) predictive statistics 
B) statistical inference 
C) descriptive statistics 
D) information gathering 
A) predictive statistics 
B) statistical inference 
C) descriptive statistics 
D) information gathering

Question 5

Metrics can be either discrete,ratio,or continuous.

Accepted Answer

A) True 
 B)False

Question 6

Data that consists of two or more variables is called ________ data.

Accepted Answer

A) cross-sectional 
B) univariate 
C) time series 
D) multivariate 
A) cross-sectional 
B) univariate 
C) time series 
D) multivariate

Question 7

Freshman,sophomore,junior,or senior would be examples of ________ data.

Accepted Answer

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

Question 8

Which of the following is used to find the number of cells in a range that contains numbers using Microsoft Excel?

Accepted Answer

A) MAX(range) 
B) COUNT(range) 
C) SUM(range) 
D) NUMBER(range) 
A) MAX(range) 
B) COUNT(range) 
C) SUM(range) 
D) NUMBER(range)

Question 9

Data that are routinely collected by accounting,marketing and operations functions of a business are called ________.

Accepted Answer

A) nominal data 
B) external data 
C) internal data 
D) ordinal data 
A) nominal data 
B) external data 
C) internal data 
D) ordinal data

Question 10

External data may include all of the following except ________.

Accepted Answer

A) population trends 
B) accounts receivables 
C) industry performance 
D) international trade data 
A) population trends 
B) accounts receivables 
C) industry performance 
D) international trade data

Question 11

Which of the following functions is used to find the smallest value in a range of cells using Microsoft Excel?

Accepted Answer

A) MAX(range) 
B) MIN(range) 
C) SUM(range) 
D) AVERAGE(range) 
A) MAX(range) 
B) MIN(range) 
C) SUM(range) 
D) AVERAGE(range)

Question 12

In Microsoft Excel,a logical function that returns TRUE if any condition is true,and FALSE if not,is ________.

Accepted Answer

A) OR(condition 1,condition 2 ...) 
B) IF(condition,value if true,value if false) 
C) VLOOKUP(value,table range,column number) 
D) COUNTIF(range,criteria) 
A) OR(condition 1,condition 2 ...) 
B) IF(condition,value if true,value if false) 
C) VLOOKUP(value,table range,column number) 
D) COUNTIF(range,criteria)

Question 13

Outcomes such as revenue,profit and loss,net assets,earnings per share,and new product and service introductions would be considered ________ outcomes.

Accepted Answer

A) customer-focused 
B) workforce-focused 
C) financial and market 
D) leadership and governance 
A) customer-focused 
B) workforce-focused 
C) financial and market 
D) leadership and governance

Question 14

In business,statistical methods are used to present data in a concise and understandable manner and to estimate population characteristics.

Accepted Answer

A) True 
 B)False

Question 15

Six-Sigma is based on a statistical measure that equates to 3.4 or fewer errors or defects per million opportunities.

Accepted Answer

A) True 
 B)False

Question 16

All college students in the U.S.that live on campus would be an example of a ________.

Accepted Answer

A) sample 
B) population 
C) class 
D) group 
A) sample 
B) population 
C) class 
D) group

Question 17

When making important decisions variation should not be considered.

Accepted Answer

A) True 
 B)False

Question 18

In Microsoft Excel,a function that returns TRUE if all conditions are true,and FALSE if not,is ________.

Accepted Answer

A) MAX(range) 
B) COUNT(range) 
C) AND(condition 1,condition 2…) 
D) COUNTIF(range,criteria) 
A) MAX(range) 
B) COUNT(range) 
C) AND(condition 1,condition 2…) 
D) COUNTIF(range,criteria)

Question 19

Which of the following is true of ordinal data?

Accepted Answer

A) Ordinal data have no fixed units of measurement. 
B) Ordinal data can be interpreted in the form of ratios. 
C) Ordinal data allows meaningful comparison of ranges,averages,and other statistics. 
D) Ordinal data is the strongest form of measurement. 
A) Ordinal data have no fixed units of measurement. 
B) Ordinal data can be interpreted in the form of ratios. 
C) Ordinal data allows meaningful comparison of ranges,averages,and other statistics. 
D) Ordinal data is the strongest form of measurement.

Question 20

Outcomes such as reliability,defect levels,setup times,time to market,and productivity would be considered ________ outcomes.

Accepted Answer

A) customer-focused 
B) workforce-focused 
C) product and process 
D) leadership and governance 
A) customer-focused 
B) workforce-focused 
C) product and process 
D) leadership and governance

Data that is often used by a business for comparative purposes,marketing projects,and economic analyses would be categorized as ________.

By analyzing and extracting meaning from data to support evaluation and decision making,companies gather ________.

Measures of temperature using the Fahrenheit scale is an example of ________ data.

The process of developing likely estimates of future values based on historical data is called ________.

Metrics can be either discrete,ratio,or continuous.

Data that consists of two or more variables is called ________ data.

Freshman,sophomore,junior,or senior would be examples of ________ data.

Which of the following is used to find the number of cells in a range that contains numbers using Microsoft Excel?

Data that are routinely collected by accounting,marketing and operations functions of a business are called ________.

External data may include all of the following except ________.

Which of the following functions is used to find the smallest value in a range of cells using Microsoft Excel?

In Microsoft Excel,a logical function that returns TRUE if any condition is true,and FALSE if not,is ________.

Outcomes such as revenue,profit and loss,net assets,earnings per share,and new product and service introductions would be considered ________ outcomes.

In business,statistical methods are used to present data in a concise and understandable manner and to estimate population characteristics.

Six-Sigma is based on a statistical measure that equates to 3.4 or fewer errors or defects per million opportunities.

All college students in the U.S.that live on campus would be an example of a ________.

When making important decisions variation should not be considered.

In Microsoft Excel,a function that returns TRUE if all conditions are true,and FALSE if not,is ________.

Which of the following is true of ordinal data?

Outcomes such as reliability,defect levels,setup times,time to market,and productivity would be considered ________ outcomes.

Descriptive Statistics and Data Analysis

Probability Concepts and Distributions

Sampling and Estimation

Hypothesis Testing and Statistical Inference

Regression Analysis

Forecasting

Introduction to Statistical Quality Control

Building and Using Decision Models

Decision Models With Uncertainty and Risk

Decisions, uncertainty, and Risk

Queues and Process Simulation Modeling

Linear Optimization

Integer, nonlinear, and Advanced Optimization Methods

Filters

Exam 1: Data and Business Decisions

Data that is often used by a business for comparative purposes,marketing projects,and economic analyses would be categorized as ________.

By analyzing and extracting meaning from data to support evaluation and decision making,companies gather ________.

Measures of temperature using the Fahrenheit scale is an example of ________ data.

The process of developing likely estimates of future values based on historical data is called ________.

Metrics can be either discrete,ratio,or continuous.

Data that consists of two or more variables is called ________ data.

Freshman,sophomore,junior,or senior would be examples of ________ data.

Which of the following is used to find the number of cells in a range that contains numbers using Microsoft Excel?

Data that are routinely collected by accounting,marketing and operations functions of a business are called ________.

External data may include all of the following except ________.

Which of the following functions is used to find the smallest value in a range of cells using Microsoft Excel?

In Microsoft Excel,a logical function that returns TRUE if any condition is true,and FALSE if not,is ________.

Outcomes such as revenue,profit and loss,net assets,earnings per share,and new product and service introductions would be considered ________ outcomes.

In business,statistical methods are used to present data in a concise and understandable manner and to estimate population characteristics.

Six-Sigma is based on a statistical measure that equates to 3.4 or fewer errors or defects per million opportunities.

All college students in the U.S.that live on campus would be an example of a ________.

When making important decisions variation should not be considered.

In Microsoft Excel,a function that returns TRUE if all conditions are true,and FALSE if not,is ________.

Which of the following is true of ordinal data?

Outcomes such as reliability,defect levels,setup times,time to market,and productivity would be considered ________ outcomes.

Descriptive Statistics and Data Analysis

Probability Concepts and Distributions

Sampling and Estimation

Hypothesis Testing and Statistical Inference

Regression Analysis

Forecasting

Introduction to Statistical Quality Control

Building and Using Decision Models

Decision Models With Uncertainty and Risk

Decisions, uncertainty, and Risk

Queues and Process Simulation Modeling

Linear Optimization

Integer, nonlinear, and Advanced Optimization Methods

Filters