(Test Bank) Basic Statistics for Business & Economics

Lind, 10

Math & Statistics

Test Bank

10th Edition

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Test Bank for Basic Statistics for Business & Economics, The downloadable file consists of 511 pages, and the total size of the file is 3.33 MB. Purchase now only for highly discounted price.

Author(s): Lind

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Study Note Preview

Version 1 1 CHAPTER 1 1) Which of the following is not an example of a statistic? A) The weekly income of the typical high school graduate compared to a typical college graduate B) A list of the profits earned last year for 100 companies in the United States C) The unemployment rate in the United States for last month D) The average profit earned last year for the 10 top companies on the Dow Jones Index 2) A store asks shoppers for their zip codes to identify market areas. Zip codes are an example of ratio data. ⊚ true ⊚ false 3) What type of variable is the number of gallons of gasoline pumped by a filling station during a day? A) Discrete B) Qualitative C) Attribute D) Continuous 4) The incomes of 50 loan applicants are obtained. Which level of measurement is income? A) Interval B) Ratio C) Ordinal D) Nominal 5) An example of a qualitative variable is Version 1 2 A) miles between oil changes. B) number of children in a family. C) weight of a person. D) color of ink in a pen. 6) SAT scores are an example of ratio data. ⊚ true ⊚ false 7) Statistics is used to report the summary results of market surveys. ⊚ true ⊚ false 8) When TV advertisements report that "2 out of 3 dentists surveyed indicated they would recommend Brand X toothpaste to their patients," an informed consumer may question the conclusion because A) the conclusion is not illustrated with a graph. B) the sample of dentists is clearly explained. C) the advertisement does not include the total number of dentists surveyed. D) the sample was only 5 dentists. 9) The terms descriptive statistics and inferential statistics can be used interchangeably. ⊚ true ⊚ false 10) The average number of passengers on commercial flights between Chicago and New York City is an example of a statistic. Version 1 3 ⊚ true ⊚ false 11) The main purpose of descriptive statistics is to A) gather or collect data. B) make inferences about a population. C) determine if the data adequately represent the population. D) summarize data in a useful and informative manner. 12) The ordinal level of measurement is considered the "lowest" level of measurement. ⊚ true ⊚ false 13) If we select 100 persons from 25,000 registered voters and question them about candidates and issues, the 100 persons are referred to as the population. ⊚ true ⊚ false 14) The monthly average number of cases of people testing positive for a virus infection, by country, is an example of a statistic. ⊚ true ⊚ false 15) The CIA World Factbook cited these numbers for the United States: ● The birthrate is 13.66 births per 1,000 of the population. ● The average life expectancy for females is 81.17 years. ● Approximately 316.7 million persons reside in the United States. Each of these numbers is referred to as a statistic. Version 1 4 ⊚ true ⊚ false 16) Based on a sample of 3,000 people, the civilian unemployment rate in the United States was 5.5%. The 5.5% is referred to as a statistic. ⊚ true ⊚ false 17) The Nielsen Ratings break down the number of people watching a particular television show by age. What level of measurement is age? A) Ratio B) Nominal C) Interval D) Ordinal 18) Which word is not part of the definition of descriptive statistics? A) Predicting B) Presenting C) Organizing D) Summarizing 19) A portion or part of a population is called a A) frequency distribution. B) random survey. C) tally. D) sample. Version 1 5 20) Credit rating scores are an example of interval data. ⊚ true ⊚ false 21) When statisticians analyze sample data in order to draw conclusions about the characteristics of a population, this is referred to as A) data summarization. B) statistical inference. C) data analysis. D) descriptive statistics. 22) The members of each basketball team wear numbers on their jerseys. What scale of measurement are these numbers considered? A) Ordinal B) Nominal C) Ratio D) Interval 23) The length of a bridge, measured in meters, is an example of A) qualitative data. B) measurement data. C) either qualitative or categorical data. D) quantitative data. Version 1 6 24) A marketing class of 50 students evaluated the instructor using the following scale: superior, good, average, poor, or inferior. The descriptive summary showed the following survey results: 2% superior, 8% good, 45% average, 45% poor, and 0% inferior. A) The instructor's performance was great! B) The instructor's performance was inferior. C) No conclusions can be made. D) Most students rated the instructor as poor or average. 25) Which of the following is an example of a continuous variable? A) Tons of concrete to complete a parking garage B) Zip codes of shoppers C) Number of students in a statistics class D) Rankings of baseball teams in a league 26) An ordinal level of measurement implies some sort of ranking. ⊚ true ⊚ false 27) Which of the following is true? A) Statistics is never required to make personal decisions. B) Data is collected and analyzed for you by computer programs, so there is no need to understand statistics. C) Statistical techniques are only useful for certain professions. D) No matter what your career, you need a knowledge of statistics to understand the world. 28) The number of children in a family is a discrete variable. Version 1 7 ⊚ true ⊚ false 29) The order in which runners finish in a race would be an example of continuous data. ⊚ true ⊚ false 30) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called A) levels of measurement. B) descriptive statistics. C) inferential statistics. D) statistics. 31) The names of the positions in a corporation, such as chief operating officer or controller, are examples of what type of variable? A) Quantitative B) Ratio C) Qualitative D) Interval 32) To infer something about a population, we usually take a sample from the population. ⊚ true ⊚ false 33) Descriptive statistics are used to find out something about a population based on a sample. Version 1 8 ⊚ true ⊚ false 34) What level of measurement is a person's "favorite sport"? A) Ratio B) Ordinal C) Nominal D) Interval 35) Income is a variable often used in business and economics. Income is an example of a variable that uses the A) ordinal scale. B) nominal scale. C) interval scale. D) ratio scale. 36) The branch of mathematics used to facilitate the collection, organization, presentation, analysis, and interpretation of numerical information is referred to as statistics. ⊚ true ⊚ false 37) A bank asks customers to evaluate its drive-through service as good, average, or poor. Which level of measurement is this classification? A) Ordinal B) Ratio C) Nominal D) Interval Version 1 9 38) A university wishes to conduct a student survey. In one of the questions, students are asked to mark their gender as either male or female. Gender is an example of the A) ordinal scale. B) nominal scale. C) interval scale. D) ratio scale. 39) Statistics is defined as a body of techniques used to facilitate the collection, organization, presentation, analysis, and interpretation of information for the purpose of making better decisions. ⊚ true ⊚ false 40) A population is a collection of all individuals, objects, or measurements of interest. ⊚ true ⊚ false 41) A group of women tried five brands of fingernail polish and ranked them according to preference. What level of measurement is this? A) Interval B) Nominal C) Ordinal D) Ratio 42) The American Statistical Association Version 1 10 A) has no approved ethical standards for statisticians. B) encourages statisticians to mislead people when reporting findings and results. C) advises statisticians to “lie with statistics.” D) has guidelines which advise statisticians to maintain ethical standards. 43) A pharmaceutical company evaluates a new vaccine's effectiveness as excellent, good, average, or low. Which level of measurement is this classification? A) Interval B) Ratio C) Nominal D) Ordinal 44) Shoe style is an example of what level of measurement? A) Interval B) Ordinal C) Ratio D) Nominal 45) The Equal Employment Opportunity Act requires employers to classify their employees by gender and national origin. Which level of measurement is this? A) Nominal B) Interval C) Ratio D) Ordinal Version 1 11 46) A marketing research agency was hired to test a new smartphone. Consumers rated it outstanding, very good, fair, or poor. The level of measurement for this experiment is ordinal. ⊚ true ⊚ false 47) What type of variable is the number of auto accidents reported in a given month? A) Continuous B) Discrete C) Ratio D) Interval 48) What type of variable is the number of robberies reported in your city? A) Attribute B) Quantitative C) Qualitative D) Continuous 49) Respondents were asked, "Do you now earn more than or less than you did five years ago?" What is this level of measurement? A) Interval B) Ratio C) Nominal D) Ordinal 50) Your height and weight are examples of which level of measurement? Version 1 12 A) Interval B) Ordinal C) Ratio D) Nominal 51) The Union of Electrical Workers of America with 9,128 members polled 362 members about a new wage package that will be submitted to management. The population is the 362 members. ⊚ true ⊚ false 52) The principal difference between the interval and ratio scale is that the ratio scale has a meaningful zero point. ⊚ true ⊚ false 53) Ethical statisticians A) withhold information that does not support favored conclusions. B) ensure that statistical reports and conclusions match desired findings even if the data do not support this. C) use honesty and integrity when summarizing, analyzing, and interpreting data. D) never mention any limitations of statistical analysis or possible sources of error when presenting reports. 54) There are four levels of measurement: qualitative, quantitative, discrete, and continuous. ⊚ true ⊚ false Version 1 13 55) When pharmaceutical companies try a new vaccine on a portion or part of a population, this is called a: A) sample. B) random survey. C) frequency survey. D) tally. 56) A sample is a portion or part of the population of interest. ⊚ true ⊚ false 57) The final rankings of the top 20 NCAA college basketball teams are an example of which level of measurement? A) Nominal B) Interval C) Ratio D) Ordinal 58) Data measured on a nominal scale can only be classified into categories. ⊚ true ⊚ false 59) What type of variable is "pounds of popcorn" served at a movie theater? Version 1 14 A) Interval B) Ratio C) Discrete D) Continuous 60) If Gallup, Harris, and other pollsters asked people to indicate their political party affiliations as Democrat, Republican, or Independent, the data gathered would be an example of which scale of measurement? A) Nominal B) Ordinal C) Interval D) Ratio 61) Which one of the following is not an example of discrete data? A) Number of members of the Denver Lions Club B) Number of households watching the Home Shopping Network C) Number of miles between New York City and Chicago D) Number of employees reporting in sick 62) A listing of 100 family annual incomes is an example of statistics. ⊚ true ⊚ false 63) A survey includes a question about marital status that has the following responses: single, married, divorced, separated, or widowed. What is the level of measurement for this question? Version 1 15 A) Ratio B) Ordinal C) Nominal D) Interval 64) Which of the following is an example of a qualitative variable? A) The industry category that a company is in B) The share prices of company stocks C) The percent change in stock price D) The stock volume of shares sold 65) Categorizing voters as Democrats, Republicans, and Independents is an example of interval level measurement. ⊚ true ⊚ false 66) The performance of personal and business investments is measured as a percentage called "return on investment." What type of variable is "return on investment"? A) Qualitative B) Continuous C) Attribute D) Discrete 67) What level of measurement is the Centigrade temperature scale?