Question 1

A(n)________ is a statistical graph that summarizes the distribution of data and how the data fits into defined bins.

Accepted Answer

The answer of A(n)________ is a statistical graph that summarizes...

Question 2

________ is the process of taking data from a sample of the population and making predictions about the entire population.

Accepted Answer

Inferentia

Question 3

The more random the sample,the more accurate the statistical analysis will be,in part,because randomness eliminates bias.

Accepted Answer

A) True 
 B)False

Question 4

If you leave the Bin Range box blank,Excel will generate bin values automatically.

Accepted Answer

A) True 
 B)False

Question 5

The R Square value is calculated by squaring the correlation coefficient,labeled as Squared R in the output.

Accepted Answer

A) True 
 B)False

Question 6

The spa manager uses data such as time between sales transactions,the weight of a package for shipping,and the amount of money a customer spends in any given visit.These are examples of ________.

Accepted Answer

A) probability distributions 
B) discrete variables 
C) continuous variables 
D) populations 
A) probability distributions 
B) discrete variables 
C) continuous variables 
D) populations

Question 7

The Analysis ToolPak allows you to conduct a variety of statistical analyses with ease.

Accepted Answer

A) True 
 B)False

Question 8

Ratio data is similar to ordinal data except that the differences between the data can be quantified and proportions can be specified.

Accepted Answer

A) True 
 B)False

Question 9

Match between columns
                        Premises: Ordinal data
Data set
Ratio Data
Nominal data
Interval data

Accepted Answer

The Answer of Often used to categorize responses in a is...

Question 10

The spa calculates the total revenue that a spa package generates over the course of a year.This is an example of ________.

Accepted Answer

A) descriptive statistics 
B) probability 
C) inferential statistics 
D) statistics 
A) descriptive statistics 
B) probability 
C) inferential statistics 
D) statistics

Question 11

A ________ calculates the average of values over time based on specified intervals.

Accepted Answer

A) standard error 
B) sample variance 
C) mean 
D) moving average 
A) standard error 
B) sample variance 
C) mean 
D) moving average

Question 12

A(n)________ describes all the possible values and likelihoods that a given variable can be within a specific range,and they can be in the form of a graph,table,or formula.

Accepted Answer

A) continuous variable 
B) probability distribution 
C) observational unit 
D) discrete variable 
A) continuous variable 
B) probability distribution 
C) observational unit 
D) discrete variable

Question 13

All of the following statements are TRUE about basic statistical methods to business EXCEPT:

Accepted Answer

A) With so much data so easily available, it is becoming increasingly important that people in business understand how to use that data to make good, strategic decisions. 
B) Statistical methods can be used to analyze business data to support good decision making. 
C) Statistics can be used to determine effectiveness of advertising campaigns, to understand what factors contribute to the demand for your products, to spot seasonal trends in the sales of certain products, and much more. 
D) The more random the sample, the less accurate the statistical analysis will be, in part, because randomness eliminates bias. 
A) With so much data so easily available, it is becoming increasingly important that people in business understand how to use that data to make good, strategic decisions. 
B) Statistical methods can be used to analyze business data to support good decision making. 
C) Statistics can be used to determine effectiveness of advertising campaigns, to understand what factors contribute to the demand for your products, to spot seasonal trends in the sales of certain products, and much more. 
D) The more random the sample, the less accurate the statistical analysis will be, in part, because randomness eliminates bias.

Question 14

________ variables are often used to categorize responses in a survey.

Accepted Answer

A) Nominal 
B) Ordinal 
C) Interval 
D) Ratio 
A) Nominal 
B) Ordinal 
C) Interval 
D) Ratio

Question 15

All of the following statements are TRUE regarding variance EXCEPT:

Accepted Answer

A) The higher the variance calculation the more dispersed the data set. 
B) Variance is most useful because its value is in the same unit as the median and therefore easier to interpret. 
C) Variance provides a more accurate picture of the dispersion of a data set than a range. 
D) Due to the way variance is calculated, the value is not in the same units as the mean. 
A) The higher the variance calculation the more dispersed the data set. 
B) Variance is most useful because its value is in the same unit as the median and therefore easier to interpret. 
C) Variance provides a more accurate picture of the dispersion of a data set than a range. 
D) Due to the way variance is calculated, the value is not in the same units as the mean.

Question 16

________ are only useful with discrete data that is sorted in either ascending or descending order.

Accepted Answer

A) Means 
B) Medians 
C) Modes 
D) Central tendencies 
A) Means 
B) Medians 
C) Modes 
D) Central tendencies

Question 17

All of the following statements are TRUE regarding probability distribution EXCEPT:

Accepted Answer

A) Small businesses tend to experience more volatility than large organizations and can therefore benefit greatly from using probability distributions to estimate future outcomes and events. 
B) The normal distribution has wide applications in business. 
C) Excel offers many probability distribution functions with wide applications across many different industries of business, science, engineering, and mathematics. 
D) A normal distribution is one of the least used distributions in statistics. 
A) Small businesses tend to experience more volatility than large organizations and can therefore benefit greatly from using probability distributions to estimate future outcomes and events. 
B) The normal distribution has wide applications in business. 
C) Excel offers many probability distribution functions with wide applications across many different industries of business, science, engineering, and mathematics. 
D) A normal distribution is one of the least used distributions in statistics.

Question 18

Calculating the range,variance,and standard deviation of a data set are all methods used to determine the ________ of a data set.

Accepted Answer

The answer of Calculating the range,variance,and standard deviation of a...

Question 19

To calculate the mean in Excel,the AVERAGE function is used.

Accepted Answer

A) True 
 B)False

Question 20

________ data are useful in situations where it is difficult to obtain accurate measurements.

Accepted Answer

The answer of ________ data are useful in situations where...

A(n)________ is a statistical graph that summarizes the distribution of data and how the data fits into defined bins.

________ is the process of taking data from a sample of the population and making predictions about the entire population.

The more random the sample,the more accurate the statistical analysis will be,in part,because randomness eliminates bias.

If you leave the Bin Range box blank,Excel will generate bin values automatically.

The R Square value is calculated by squaring the correlation coefficient,labeled as Squared R in the output.

The spa manager uses data such as time between sales transactions,the weight of a package for shipping,and the amount of money a customer spends in any given visit.These are examples of ________.

The Analysis ToolPak allows you to conduct a variety of statistical analyses with ease.

Ratio data is similar to ordinal data except that the differences between the data can be quantified and proportions can be specified.

The spa calculates the total revenue that a spa package generates over the course of a year.This is an example of ________.

A ________ calculates the average of values over time based on specified intervals.

A(n)________ describes all the possible values and likelihoods that a given variable can be within a specific range,and they can be in the form of a graph,table,or formula.

All of the following statements are TRUE about basic statistical methods to business EXCEPT:

________ variables are often used to categorize responses in a survey.

All of the following statements are TRUE regarding variance EXCEPT:

________ are only useful with discrete data that is sorted in either ascending or descending order.

All of the following statements are TRUE regarding probability distribution EXCEPT:

Calculating the range,variance,and standard deviation of a data set are all methods used to determine the ________ of a data set.

To calculate the mean in Excel,the AVERAGE function is used.

________ data are useful in situations where it is difficult to obtain accurate measurements.

Navigate, manipulate, and Print Worksheets

Formatting, functions, and Formulas

Cell References, named Ranges, and Functions

Effective Charts

Complex Conditional and Retrieval Functions

Analyze Data Using Tables

Multiple Worksheets workbooks and Templates

Refine an Excel Application

Organize, import, export, and Cleanse Data Sets

Data Tables, scenario Manager, and Solver

Loan Amortization, investment Analysis, and Asset Depreciation

Excels Data Model, Power-pivot, and Power View

Visual Basic for Applications

Appendix:efficient Interaction With a Touch Screen

The Common Features of Microsoft Office

Filters

Exam 12: Business Statistics and Regression Analysis

A(n)________ is a statistical graph that summarizes the distribution of data and how the data fits into defined bins.

________ is the process of taking data from a sample of the population and making predictions about the entire population.

The more random the sample,the more accurate the statistical analysis will be,in part,because randomness eliminates bias.

If you leave the Bin Range box blank,Excel will generate bin values automatically.

The R Square value is calculated by squaring the correlation coefficient,labeled as Squared R in the output.

The spa manager uses data such as time between sales transactions,the weight of a package for shipping,and the amount of money a customer spends in any given visit.These are examples of ________.

The Analysis ToolPak allows you to conduct a variety of statistical analyses with ease.

Ratio data is similar to ordinal data except that the differences between the data can be quantified and proportions can be specified.

The spa calculates the total revenue that a spa package generates over the course of a year.This is an example of ________.

A ________ calculates the average of values over time based on specified intervals.

A(n)________ describes all the possible values and likelihoods that a given variable can be within a specific range,and they can be in the form of a graph,table,or formula.

All of the following statements are TRUE about basic statistical methods to business EXCEPT:

________ variables are often used to categorize responses in a survey.

All of the following statements are TRUE regarding variance EXCEPT:

________ are only useful with discrete data that is sorted in either ascending or descending order.

All of the following statements are TRUE regarding probability distribution EXCEPT:

Calculating the range,variance,and standard deviation of a data set are all methods used to determine the ________ of a data set.

To calculate the mean in Excel,the AVERAGE function is used.

________ data are useful in situations where it is difficult to obtain accurate measurements.

Navigate, manipulate, and Print Worksheets

Formatting, functions, and Formulas

Cell References, named Ranges, and Functions

Effective Charts

Complex Conditional and Retrieval Functions

Analyze Data Using Tables

Multiple Worksheets workbooks and Templates

Refine an Excel Application

Organize, import, export, and Cleanse Data Sets

Data Tables, scenario Manager, and Solver

Loan Amortization, investment Analysis, and Asset Depreciation

Excels Data Model, Power-pivot, and Power View

Visual Basic for Applications

Appendix:efficient Interaction With a Touch Screen

The Common Features of Microsoft Office

Filters