Question 1

The Chamber of Commerce wants to assess its membership's opinions of the North American Free Trade Agreement. One-hundred of the 2,000 members are randomly selected and contacted by telephone. Seventy-five reported an overall favorable opinion, and twenty-five reported an overall unfavorable opinion. The proportion, 0.75, is a ___.

Accepted Answer

A)  parameter 
B)  statistic 
C)  population 
D)  sample 
E)  frame

Question 2

Rebecca Sear, Marketing Director of a regional restaurant chain, is directing a study to identify and assess the in-dining experience of the customers at one of the restaurants. She directs her staff to design a web-based market survey for distribution to 100 of the restaurant's 1265 customers who enjoyed a meal during the past 6 months. For this study, the set of 100 customers is ___.

Accepted Answer

A)  a parameter 
B)  a sample 
C)  the population 
D)  a statistic 
E)  the frame

Question 3

The complete collection of all entities under study is called the sample.

Accepted Answer

A) True 
 B)False

Question 4

Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "each and every payroll voucher issued since January 1, 2013." Pinky is ordering a ___.

Accepted Answer

A)  statistic from the payroll vouchers 
B)  census of the payroll vouchers 
C)  sample of the payroll vouchers 
D)  sorting of the payroll vouchers 
E)  parameter of the payroll vouchers

Question 5

Measurements occur when a standard process is used to assign numbers to attributes or characteristics of a variable.

Accepted Answer

A) True 
 B)False

Question 6

You are the owner of a camping site and want to estimate the average age of your customers. For this purpose, you select a representative sample of your clients and offer them a discount good for their next visit as compensation for filling out a short questionnaire that includes relevant age intervals. The average age of your customers is

Accepted Answer

A)  a measurement. 
B)  data. 
C)  a statistic. 
D)  a parameter. 
E)  a census.

Question 7

A researcher wants to know what the average variation is in altimeters of small, privately owned airplanes. The task of determining this is expensive and time consuming, if even possible, given the large number of such airplanes. The researcher decides to use government records to randomly locate the owners of ten such planes and then get permission to test the altimeters. When the researcher is done, he will use the data gathered from the group of ten to reach conclusions about all small, privately owned airplanes. The average variation computed using the data gathered on the group of ten airplanes is best described as a ___.

Accepted Answer

A)  measurement 
B)  data 
C)  statistic 
D)  parameter 
E)  census

Question 8

A student makes an 82% on the first test in a statistics course. From this, she estimates that her average at the end of the semester (after other tests) will be about 82%. This is an example of ___.

Accepted Answer

A)  descriptive statistics 
B)  inferential statistics 
C)  population derivation 
D)  sample persuasion 
E)  relative level data

Question 9

Gathering data from a sample to reach conclusions about the population from which the sample was drawn is called descriptive statistics.

Accepted Answer

A) True 
 B)False

Question 10

On discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered an inspection of every fifth casting drilled during the evening shift. Less than 1% of the castings were defective; so, Jack released the evening shift's production to assembly. This is an example of ___.

Accepted Answer

A)  categorical data 
B)  quantitative data 
C)  descriptive statistics 
D)  inferential statistics 
E)  judgmental statistics

Question 11

Rebecca Sear, Marketing Director of a regional restaurant chain, is directing a study to identify and assess the in-dining experience of the customers at one of the restaurants. She directs her staff to design a web-based market survey for distribution to all of the restaurant's 1265 customers who enjoyed a meal during the past 6 months. For this study, the set of 1265 customers is ___.

Accepted Answer

A)  a parameter 
B)  a sample 
C)  the population 
D)  a statistic 
E)  the frame

Question 12

Miguel Hernandez, Senior Vice President of Human Resources at Memorial Hospital is exploring the usage of nursing overtime in the emergency department during the last operating year. Staffing records and emergency department visits for all 360 days between the period of January 1, 2012, and December 31, 2012, are selected for analysis. Miguel's dataset can best be classified as a

Accepted Answer

A)  statistic. 
B)  census. 
C)  sample. 
D)  sorting. 
E)  parameter.

Question 13

The Magnolia Swimming Pool Company wants to determine the average number of years it takes before a major repair is required on one of the pools that the company constructs. The president of the company asks Rick Johnson, a company accountant, to randomly contact fifty families that built Magnolia pools in the past ten years and determine how long it was in each case until a major repair. The information will then be used to estimate the average number of years until a major repair for all pools sold by Magnolia. The average based on the data gathered from the fifty families can best be described as a ___.

Accepted Answer

A)  parameter 
B)  sample 
C)  population 
D)  statistic 
E)  frame

Question 14

A list of final grades in an introductory class in business is an example of statistics.

Accepted Answer

A) True 
 B)False

Question 15

What is the first stage in statistics?

Accepted Answer

A)  Organize data. 
B)  Identify the population to be studied. 
C)  Analyze data. 
D)  Summarize data.

Question 16

Statistics can be used to predict the business future.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following does $\textbf{      not   }$  reflect statistics?

Accepted Answer

A)  It describes ways of analyzing categorical data. 
B)  It describes methods of collecting data. 
C)  It involves interpreting data. 
D)  It describes methods of analyzing data.

Question 18

A census is the process of gathering data on all the entities in the population.

Accepted Answer

A) True 
 B)False

Question 19

Miguel Hernandez, Senior Vice President of Human Resources at Memorial Hospital is exploring the usage of nursing overtime in the emergency department during the last operating year. Staffing records and emergency department visits for 20 days between the period of January 1, 2012, and December 31, 2012, are selected for analysis. For this study, the group of 20 days is a ___.

Accepted Answer

A)  parameter 
B)  sample 
C)  population 
D)  statistic 
E)  frame

Question 20

List the four key elements of business statistics.

Accepted Answer

The answer of List the four key elements of business...

Exam 1: Introduction to Statistics

The complete collection of all entities under study is called the sample.

Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "each and every payroll voucher issued since January 1, 2013." Pinky is ordering a ___.

Measurements occur when a standard process is used to assign numbers to attributes or characteristics of a variable.

A student makes an 82% on the first test in a statistics course. From this, she estimates that her average at the end of the semester (after other tests) will be about 82%. This is an example of ___.

Gathering data from a sample to reach conclusions about the population from which the sample was drawn is called descriptive statistics.

A list of final grades in an introductory class in business is an example of statistics.

What is the first stage in statistics?

Statistics can be used to predict the business future.

Which of the following does not \textbf{ not } not reflect statistics?

A census is the process of gathering data on all the entities in the population.

List the four key elements of business statistics.

Which of the following does $\textbf{ not }$ reflect statistics?