(Test Bank) Business Statistics: Communicating with Numbers

Jaggia,Kelly, 4

Business

Test Bank

4th Edition

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Test Bank for Business Statistics: Communicating with Numbers, The downloadable file consists of 1288 pages, and the total size of the file is 7.82 MB. Purchase now only for highly discounted price.

Author(s): Jaggia, Kelly

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Study Note Preview

Version 1 1 CHAPTER 01 – 4e 1) The following data represent a sample of non -elementary mathematics teachers in Bergen County, New Jersey. Identify the qualitative and quantitative variables, the categories associated with each qualitative variable, and the measurement scales for all var iables. School Degree Years Experience Salary Classes Taught Brookside E.S. Masters 8 $ 67,945 6 Program 3 -Emotionally Distur. Masters 25 $ 82,910 4 Program 3 -Emotionally Distur. Bachelors 25 $ 86,030 7 Program 3 -Emotionally Distur. Bachelors 3 $ 62,690 5 Program 3 -Emotionally Distur. Masters 21 $ 82,620 5 Program 5 -Life Skills Masters 11 $ 82,330 5 Program 5 -Life Skills Masters 41 $ 79,790 4 Bergen Academies - Hackensack Masters 31 $ 82,626 5 Bergen Academies - Hackensack Masters 10 $ 82,626 4 Bergen Academies - Hackensack Masters 3 $ 98,291 4 Source: http://php.app.com/edstaff/results2.php?county=BERGEN&district=%25&school=%25&lname= &fname=&job1=Math+Non -Elementary&Submit=Submit 2) The following data concern a sample of employees of the U.S. Marshals in the state of New York. Identify the qualitative and quantitative variables, the categories associated with each qualitative variable, and the measurement scales for all variables. Country Station Title Grade Salary New York NEW YORK -NY MISCELLANEOUS CLERK AND GS 07 $ 51,030 Version 1 2 Country ASSISTANT New York Country NEW YORK -NY MISCELLANEOUS CLERK AND ASSISTANT GS 07 $ 55,405 Kings Country NEW YORK - KINGS ACCOUNTING TECHNICIAN GS 07 $ 45,196 Erie Country BUFFALO ADMINISTRATIVE OFFICER GS 13 $ 95,023 Onondaga Country SYRACUSE BUDGET ANALYSIS GS 09 $ 53,773 New York Country NEW YORK -NY GENERAL BUSINESS AND INDUSTRY GS 11 $ 66,887 Onondaga Country SYRACUSE GENERAL BUSINESS AND INDUSTRY GS 11 $ 74,628 Erie Country BUFFALO MISCELLANEOUS ADMINISTRATION AND PROGRAM GS 09 $ 59,962 New York Country NEW YORK -NY MISCELLANEOUS ADMINISTRATION AND PROGRAM GS 09 $ 57,065 Kings Country NEW YORK - KINGS GENERAL BUSINESS AND INDUSTRY GS 11 $ 66,887 Source: http://php.app.com/fed_employees10/results.php?fullname=&agency_name=U.S.+MARSHALS +SERVICE&statename=New+York&countyname=%25&Submit=Search 3) Why do we spend time on inspecting and preparing the data before performing statistical analysis? 4) The following data represent a sample of information on our customers. Version 1 3 Name Gender Date of Birth Phone Number Income Al Brooks Male 09/17/1986 205-228-5876 $ 19,000 Beth Gloria Female 05/27/1983 760-301-3657 $ 125,025 Mary King Female 08/01/1981 708-326-7311 $ 100,700 Bob Julissa Male 07/08/1962 $ 164,032 Ed Taylor Male 04/07/1977 413-212-4506 $ 76,048 What data preparation task is most appropriate to answer the following questions? A. Are there missing values in Phone Number? B. How many customers do we have? C. How many of our customers are female? D. Who is our youngest customer? E. How do our male customers compare to our female customers? 5) The study of statistics is NOT about A) the language of data. B) the art and science of getting information from data. C) the study of collecting, analyzi ng, presenting, and interpreting data. D) the study of mind and consciousness. 6) When reading published statistics (numerical facts), you shouldVersion 1 4 A) never believe what you read, because all statistics are lies. B) only believe those statistics that are adequately supported. C) believe what you read, because they wouldn ’t be published if they weren ’t correct. D) only believe those statistics that are presented in so -called quality publications. 7) The two branches of the study of statistics are generally referred to as A) descriptive and inferential statistics. B) inferential and differential statistics. C) descriptive and referential statistics. D) differential and descriptive stat istics. 8) Population parameters are difficult to calculate due to A) cost prohibitions on data collection. B) the infeasibility of collecting data on the entire population. C) the fact that samples are difficult to draw due to the nature of the data. D) both cost prohibitions on data collection and the infeasibility of collecting data on the entire population. 9) The teachers ’ union in California wants to know the average salary for high school teachers thr oughout the country. What is the teachers ’ union presumably planning to calculate? A) Sample statistic B) Sample parameter C) Population statistic D) Population parameter Version 1 5 10) A population consists of A) all items of interest in a sample. B) a subject of interest in a sample. C) all items of interest in a statistical problem. D) a subject of interest in a statistical problem. 11) In inferential statistics, we calculate statistics of sa mple data to A) estimate unknown population parameters. B) conduct tests about unknown population parameters. C) Both of these choices are correct. D) Neither of these choices is correct. 12) Which of the following repres ents a population and a sample from that population? A) Residents of Albany, New York, and registered voters in Albany, New York B) Teachers of a high school and members of the parent -teacher group C) Fans at a concert who purchase T -shirts, and fans at a concert who purchase soda D) Freshmen at St. Joseph ’s University and basketball players at St. Joseph ’s University 13) Which of the following represents a population and a sample from that population?Version 1 6 A) Attende es at a sporting event, and those who purchased popcorn at said sporting event B) Full -time employees at a marketing firm, and temporary summer interns at the marketing firm C) Seniors at Boston College and students in a first -semester business stat istics course D) Stocks available on the NYSE and stocks on the NASDAQ 14) Which of the following is an example of cross -sectional data? A) GDP of the United States from 1990 –2010 B) Daily price of DuPont stock during the fi rst quarter C) Quarterly housing starts collected over the last 60 years D) Results of market research testing consumer preferences for soda 15) Which of the following is an example of time series data? A) The sale prices of town houses sold last year B) Quarterly housing stats collected over the last 60 years C) Results of market research testing consumer preferences for soda D) Starting salaries of recent business graduates at Penn State University 16) The estimation of which of the following requires sampling? A) U.S. unemployment rate B) Total rainfall in Phoenix, Arizona, in 2010 C) The Cleveland Indians ’ hitting percentage in 2010 D) The average SAT score of incoming freshmen a t a university Version 1 7 17) A company wants to estimate the mean price of oil over the past 10 years. What kind of data does the company need? A) Time series data B) Inferential statistics C) Cross -sectional data D) Descriptive statistics 18) For which of the following population parameters is sampling not necessary? A) The average height of NBA players B) The average life of light bulbs produced by a manufacturer C) The average conten t of cereal boxes produced by a manufacturer D) The percentage of the U.S. public school teachers who support Democrats 19) Sampling is used heavily in manufacturing and service settings to ensure high -quality products. In which of the fo llowing areas would sampling be inappropriate? A) Computer assembly B) Custom cabinet making C) Cell phone manufacturing D) Technical support by phone 20) Which of the following is NOT an example of cross -sectional data?Version 1 8 A) The test scores of students in a class B) The current average prices of regular gasoline in different states C) The sales prices of single -family homes sold last month in California D) The sales prices of single -family homes in Arizona collected since 2008. 21) An analyst studies a data set of the year -end book value per share for all companies listed on the New York Stock Exchange. This data set is best described as A) time series data . B) cross -sectional data. C) neither time series nor cross -sectional data. D) a combination of time series and cross -sectional data. 22) Which type of data, cross -sectional versus time series, is more important to research? A) Neither type of data is important. B) Cross -sectional data is more important than time series data. C) Time series data is more important than cross -sectional data. D) Time series data and cross -sectional data are equally as valuable in di fferent types of research. 23) Which of the following variables is categorical? A) Height B) Gender C) Weight D) Temperature Version 1 9 24) Which of the following variables is quantitative? A) Gender B) Temperature C) Marital status D) Religious affiliation 25) Which of the following is a qualitative variable? A) House age B) House size C) House price D) House district 26) San Francisco 49ers ’ linebacker Patrick Willis won the Defensive Rookie of the Year Award in 2007 with a total of 153 tackles. Tackles are measured on what kind of a scale? Is a variable measuring the number of tackles considered continuous or discrete? A) Ratio scale; discrete B) Ratio scale; continuous C) Interval scale; discrete D) Interval scale; continuous 27) San Francisco 49ers ’ linebacker Patrick Willis won the Defensive Rookie of the Year Award in 2007 with a total of 174 tackles. Tackl es are measured on what kind of a scale? Is a variable measuring the number of tackles considered continuous or discrete? Version 1 10 A) Ratio scale; discrete B) Interval scale; discrete C) Ratio scale; continuous D) Interval scale; continuous 28) Which of the following variables is not continuous? A) Height of NBA players B) Time of a flight between Atlanta and Chicago C) Average temperature in the month of July in Orlando D) The number of obtained heads when a fair coin is tossed 20 times 29) The ordinal scale of data measurement is A) less sophisticated than the nominal scale. B) more sophisticated than the interval scale. C) more sophisticated than the nominal scale. D) as equally sophisticated as the nominal scale. 30) The interval scale of data measurement is A) less sophisticated than the ratio scale. B) more sophisticated than the ratio scale. C) less sophisticated than the ordinal scale. D) equally sophisticated as the ratio scale because both are appropriate for quantitative data. Version 1 11 31) A recent survey of 300 small firms (annual revenue less than $8 million) asked whether an increase in the minimum wage wou ld cause the firm to decrease capital spending. Possible responses to the survey question were: "Yes," "No," or "Don ’t Know." This data is best classified as A) interval scale. B) ordinal scale. C) nominal scale. D) ratio scale. 32) A recent survey of 200 small firms (annual revenue less than $10 million) asked whether an increase in the minimum wage would cause the firm to decrease capital spending. Possible responses to the survey question were: "Yes," "No," or "Don ’t Know." This data is best classified as A) ratio scale. B) ordinal scale. C) interval scale. D) nominal scale. 33) Which scale of data measurement is appropriate for the names of companies listed on the Dow Jones Indu strial Average? A) Ratio scale B) Ordinal scale C) Interval scale D) Nominal scale 34) An analyst collects data on the weekly closing price of gold throughout a year. The scale of this data isVersion 1 12 A) ratio scale. B) ordinal scale. C) interval scale. D) nominal scale. 35) An undergraduate student ’s status (freshman, sophomore, junior, or senior) is an example of which scale of measurement? A) Ratio scale B) Ordinal scale C) In terval scale D) Nominal scale 36) The Fahrenheit scale for measuring temperature would be classified as a(n) A) ratio scale. B) ordinal scale. C) interval scale. D) nominal scale. 37) At the end of a sem ester college students evaluate their instructors by assigning them to one of the following categories: Excellent, Good, Average, Below Average, and Poor. The measurement scale is a(n) A) ratio scale. B) ordinal scale. C) interval scale. D) nominal scale. Version 1 13 38) What is the scale of measurement of the distance between any two locations? A) Ratio scale B) Ordinal scale C) Interval scale D) Nominal scale 39) Which scales of data measurement are associated with quantitative data? A) Interval and ratio B) Ratio and nominal C) Ordinal and interval D) Nominal and ordinal 40) Which data scales of measurement are associated with qualitative data? A) Interval and ratio B) Ratio and nominal C) Ordinal and interval D) Nominal and ordinal 41) The data represents the stock price for Google at the end of the past four quarters. Which of the following types of data best descr ibe these values?Version 1 14 A) Cross -sectional B) Nominal C) Time series D) Ordinal 42) Your business statistics class had a test last week. The average score for the class is an example of A) secondary data B) quali tative data C) descriptive statistics D) inferential statistics 43) A sample statistic is an estimate of A) population parameter. B) population statistic. C) sample parameter. D) descriptive statistic. 44) A __________ represents all possible subjects of interest. A) sample B) population C) statistic D) parameter