(Test Bank) Business Statistics in Practice

Bowerman,Connell,Murphree, 7

Business

Test Bank

7th Edition

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Test Bank for Business Statistics in Practice, The downloadable file consists of 165 pages, and the total size of the file is 4.94 MB. Purchase now only for highly discounted price.

Author(s): Bowerman, Connell, Murphree

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1-1 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. Chapter 01 An Introduction to Business Statistics True / False Questions 1. A population is a set of existing units. True False 2. If we examine some of the population measurements, we are conducting a census of the population. True False 3. A random sample is selected so that every element in the population has the same chance of being included in the sample. True False 4. An example of a quantitative variable is the manufacturer of a car. True False 5. An example of a qualitative variable is the mileage of a car. True False 6. Statistical inference is the science of using a sample of measurements to make generalizations about the important aspects of a population of measurements. True False 7. Time series data are data collected at the same time period. True False 1-2 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 8. Cross -sectional data are data collected at the same point in time. True False 9. Daily temperature in a local community collec ted over a 30 -day time period is an example of cross -sectional data. True False 10. The number of sick days taken by employees in 2008 for the top 10 technology companies is an example of time series data. True False 11. The number of sick days per month taken by employees for the last 10 years at Apex Co. is an example of time series data. True False 12. A quantitative variable can also be referred to as a categorical variable. True False 13. In a data set of information on college business students, an example of an element is their cumulative GPA. True False 14. In an observational study, the variable of interest is called a response variable. True False 15. In an experimental study, the aim is to manipulate or set the value of the response variable. True False 1-3 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 16. The science of describing the important aspects of a set of measures is called statistical inference. True False 17. It is possible to use a random sample from one population to make statistical inferences about another related population. True False 18. Processes produce outputs over time. True False 19. Selecting many different samples and running many different tests can eventually produce a result that makes a desired conclusion seem to be true when the conclusion is true. True False 20. Using a nonrandom sample procedure in order to support a desired conclusion is an example of an unethical statistical procedure . True False Multiple Choice Questions 21. A ratio variable has the following characteristic: A. Meaningful order B. Inherently defined zero value C. Categorical in nature D. Predictable 1-4 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 22. Which of the following is a quantitative variable? A. The manufacturer of a cell phone B. A person's gender C. Mileage of a car D. Whether a person is a college graduate E. Whether a person has a charge account 23. Which of the following is a categorical variable? A. Air temperature B. Bank account balance C. Daily sales in a store D. Whether a person has a traffic violation E. Value of company stock 24. Measurements from a population are called A. Elements. B. Observations. C. Variables. D. Processes. 25. The two types of quantitative variables are: A. Ordinal and ratio B. Interval and ordinal C. Nominative and ordinal D. Interval and ratio E. Nominative and interval 1-5 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 26. Temperature (in degrees Fahrenheit) is an example of a(n) __________ variable. A. Nominative B. Ordinal C. Interval D. Ratio 27. Jersey numbers of soccer players is an example of a(n) ___________ variable. A. Nominative B. Ordinal C. Interval D. Ratio 28. The weight of a chemical compound used in an experiment that is obtained using a well - adjusted scale represents a(n) _____________ level of measurement. A. Nominative B. Ordinal C. Interval D. Ratio 29. An identification of police officers by rank would represent a(n) ____________ level of measurement. A. Nominative B. Ordinal C. Interval D. Ratio 1-6 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 30. __________ is a necessary component of a runs plot. A. Observation over time B. Qualitative variable C. Random sampling of the data D. Cross -sectional data 31. ______________ is the science of using a sample to make generalizations about the important aspects of a population. A. Time series analysis B. Descriptive statistics C. Random sample D. Statistical inference 32. College entrance exam scores, such as SAT scores, are an example of a(n) _____________ variable. A. Ordinal B. Ratio C. Nominative D. Interval 33. The number of miles a truck is driven before it is overhauled is an example of a(n) _____________ variable. A. Nominative B. Ordinal C. Interval D. Ratio 1-7 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 34. A(n) _____________ variable is a qualitative variable such that there is no meaningful ordering or ranking of the categories. A. Ratio B. Ordinal C. Nominative D. Interval 35. A person's telephone area code is an example of a(n) _____________ variable. A. Nominative B. Ordinal C. Interval D. Ratio 36. Any characteristic of a population unit is a(n): A. Measurement B. Sample C. Observation D. Variable 37. Examining all population measurements is called a _____________. A. Census B. Frame C. Sample D. Variable 1-8 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 38. Any characteristic of an element is called a ____________. A. Set B. Process C. Variable D. Census 39. The process of assigning a value of a variable to each element in a data set is called ___________. A. Sampling B. Measurement C. Experimental analysis D. Observational analysis 40. A ___________ is a display of individual measurements versus time. A. Runs plot B. Statistical analysis C. Random sample D. Measurement 41. Statistical ____________ refers to using a sample of measurements and making generalizations about the important aspects of a population. A. Sampling B. Process C. Analysis D. Inference 1-9 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 42. A ____________ is a subset of the units in a population. A. Census B. Process C. Sample D. Variable 43. A ____________ variable can have values that are numbers on the real number line. A. Qualitative B. Quantitative C. Categorical D. Nominative 44. A sequence of operations that takes inputs and turns them into outputs is a ____________. A. Process B. Statistical inference C. Runs plot D. Random sampling 45. A(n) ____________ variable can have values that indicate into which of several categories of a population it belongs. A. Qualitative B. Quantitative C. Ratio D. Interval 1-10 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 46. A set of all elements we wish to study is called a ____________. A. Sample B. Process C. Census D. Population 47. ___________ refers to describing the important aspects of a set of measurements. A. Cross -sectional analysis B. Runs plot C. Descriptive statistics D. Time series analysis 48. The change in the daily price of a stock is what type of variable? A. Qualitative B. Ordinal C. Random D. Quantitative 49. Data collected for a particular study are referred to as a data ____________. A. Variable B. Measurement C. Set D. Element 1-11 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 50. A data set provides information about some group of individual _____________. A. Variables B. Elements C. Statistics D. Measurements 51. When the data being studied are gathered from a private source, this is referred to as a(n) _______________. A. Existing data source B. Observational data source C. Experimental data source D. Cross -sectional data source 52. One method of determining whether a sample being studied can be used to make statistical inferences about the population is to: A. Run a descriptive statistical analysis B. Calculate a proportion C. Create a cross -sectional data analysis D. Produce a runs plot 53. Which of the following is NOT an example of unethical statistical practices? A. Inappropriate interpretation of statistical results B. Using graphs to make statistical inferences C. Improper sampling D. Descriptive measures that mislead the user E. None of these 1-12 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 54. If we collect data on the number of wins each team in the NFL had during the 2011 -12 season, we have _____________ data. A. Cross -sectional B. Time series 55. If we collect data on the number of wins the Dallas Cowboys earned each of the past 10 years, we have _____________ data. A. Cross -sectional B. Time series Essay Questions 56. A study is being conducted on the effect of gas price on the number of miles driven in a given month. Residents in two cities, one on the East Coast and one on the West Coast are randomly selected and asked to complete a questionnaire on the type of car they drive, the number of miles they live from work, the number of children under 18 in their household, their monthly income, and the number of miles they have driven over the past 30 days. List the response variable(s). 1-13 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 57. A study is being conducted on the effect of gas price on the number of miles driven in a given month. Residents in two cities, one on the East Coast and one on the West Coast are randomly selected and asked to complete a questionnaire on the type of car they drive, the number of miles they live from work, the number of children under 18 in their household, their monthly income, and the number of miles they have driven over the past 30 days. Is this an experimental or observational study? 58. A study is being conducted on the effect of gas price on the number of miles driven in a given month. Residents in two cities, one on the East Coast and one on the West Coast are randomly selected and asked to complete a questionnaire on the type of car they drive, the number of miles they live from work, the number of children under 18 in their household , their monthly income, and the number of miles they have driven over the past 30 days. List the factor(s). 1-14 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 59. Looking at the runs plot of gasoline prices over the past 30 months, describe what it tells us about the price of gas during the se 30 months. 1-15 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 60. Using the following data table of the average hours per week spent on Internet activities by 15- to 18 -year-olds for the years 1999 -2008, construct the runs plot and interpret. 1-16 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. Chapter 01 An Introduction to Business Statistics Answer Key True / False Questions 1. A population is a set of existing units. TRUE AACSB: Reflective Thinking Blooms: Remember Difficulty: 1 Easy Learning Objective: 01 -06 Describe the difference between a population and a sample. Topic: Population 2. If we examine some of the population measurements, we are conducting a census of the population. FALSE A census is defined as examining all of the population measurements. AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -06 Describe the difference between a population and a sample. Topic: Population 3. A random sample is selected so that every element in the population has the same chanc e of being included in the sample. TRUE AACSB: Reflective Thinking Blooms: Remember Difficulty: 1 Easy Learning Objective: 01 -08 Explain the importance of random sampling. Topic: Random Sampling 1-17 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 4. An example of a quantitative variable is the manufacturer of a car. FALSE This is an example of a qualitative or categorical variable. AACSB: Reflective Thinking Blooms: Understand Difficulty: 1 Easy Learning Objective: 01 -02 Describe the difference between a quantitative and a qualitative vari able. Topic: Variable 5. An example of a qualitative variable is the mileage of a car. FALSE This is an example of a quantitative variable. AACSB: Reflective Thinking Blooms: Understand Difficulty: 1 Easy Learning Objective: 01 -02 Describe the difference between a quantitative and a qualitative variable. Topic: Variable 6. Statistical inference is the science of using a sample of measurements to make generalizations about the important aspects of a population of measurements. TRUE AACSB: Reflective Thinking Blooms: Remember Difficulty: 2 Medium Learning Objective: 01 -07 Distinguish between descriptive statistics and statistical inference. Topic: Sample 1-18 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 7. Time series data are data collected at the same time period. FALSE Time series data are collected over different time periods. AACSB: Reflective Thinking Blooms: Remember Difficulty: 1 Easy Learning Objective: 01 -03 Describe the difference between cross -sectional data and time series data. Topic: Time Series Data 8. Cross -sectional data are data collected at the same point in time. TRUE AACSB: Reflective Thinking Blooms: Remember Difficulty: 1 Easy Learning Objective: 01 -03 Describe the difference between cross -sectional data and time series d ata. Topic: Cross -Sectional Data 9. Daily temperature in a local community collected over a 30 -day time period is an example of cross -sectional data. FALSE Cross -sectional data are collected at the same point in time. This is an example of time series data. AACSB: Reflective Thinking Blooms: Understand Difficulty: 1 Easy Learning Objective: 01 -03 Describe the difference between cross -sectional data and time series data. Topic: Cross -Sectional Data 1-19 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 10. The number of sick days taken by employees in 2008 for the top 10 technology companies is an example of time series data. FALSE This is an example of cross -sectional data. Time series data are collected at different time periods. AACSB: Reflective Thinking Blooms: Understand Difficu lty: 1 Easy Learning Objective: 01 -03 Describe the difference between cross -sectional data and time series data. Topic: Time Series Data 11. The number of sick days per month taken by employees for the last 10 years at Apex Co. is an example of time series data. TRUE AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -03 Describe the difference between cross -sectional data and time series data. Topic: Time Series Data 12. A quantitative variable can also be referred to as a categorical variable. FALSE Qualitative variables are also known as categorical variables. AACSB: Reflective Thinking Blooms: Understand Difficulty: 1 Easy Learning Objective: 01 -02 Describe the difference betwee n a quantitative and a qualitative variable. Topic: Quantitative Variable 1-20 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 13. In a data set of information on college business students, an example of an element is their cumulative GPA. FALSE The element is college business students. The cumulative GPA is an example of a variable, which is a characteristic of the element college business students. AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -01 Explain what a variable is. Topic: Data 14. In an observational study, the variable of interest is called a response variable. TRUE AACSB: Reflective Thinking Blooms: Remember Difficulty: 1 Easy Learning Objective: 01 -05 Identify the different types of data sources: existing data sources ; experimental studies ; and observational studies. Topic: Data Sources 15. In an experimental study, the aim is to manipulate or set the value of the response variable. FALSE In experimental studies, the aim is to manipulate the factor, which is rela ted to the response variable. AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -05 Identify the different types of data sources: existing data sources ; experimental studies ; and observational studies. Topic: Data Sources 1-21 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 16. The science of describing the important aspects of a set of measures is called statistical inference. FALSE This is the definition of descriptive statistics. Statistical inference is the science of using a sample of measurements to make generalizations about the population of measurements. AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -07 Distinguish between descriptive statistics and statistical inference. Topic: Statisti cal Inference 17. It is possible to use a random sample from one population to make statistical inferences about another related population. TRUE AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -08 Explain the importance of random sampling. Topic: Random Sampling 18. Processes produce outputs over time. TRUE AACSB: Reflective Thinking Blooms: Remember Difficulty: 1 Easy Learning Objective: 01 -08 Explain the importance of random sampling. Topic: Process 1-22 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 19. Selecting many different samples and running many different tests can eventually produce a result that makes a desired conclusion seem to be true when the conclusion is true. FALSE Using different samples and tests to produce a de sired conclusion does not make the conclusion true. AACSB: Ethics Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -08 Explain the importance of random sampling. Topic: Ethical Guidelines 20. Using a nonrandom sample procedure in order to support a desired conclusion is an example of an unethical statistical procedure. TRUE AACSB: Ethics Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -08 Explain the importance of random sampling. Topic: Ethical Guidelines Multiple Choice Questions 1-23 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 21. A ratio variable has the following characteristic: A. Meaningful order B. Inherently defined zero value C. Categorical in nature D. Predictable By definition, ratio variables are quantitative and have an absolute zero value. AACSB: Reflective Thinking Blooms: Understand Difficulty: 1 Easy Learning Objective: 01 -09 Identify the ratio ; interval ; ordinal ; and nominative scales of measurement. Topic: Variable 22. Which of the following is a quantitative variable? A. The manufacturer of a cell phone B. A person's gender C. Mileage of a car D. Whether a person is a college graduate E. Whether a person has a charge account A quantitative variable is measurable and noncategorical. AACSB: Reflective Thinking Blooms: Remember Difficulty: 1 Easy Learning Objective: 01 -02 Describe the difference between a quantitative and a qualitative variable. Topic: Variable 1-24 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 23. Which of the following is a catego rical variable? A. Air temperature B. Bank account balance C. Daily sales in a store D. Whether a person has a traffic violation E. Value of company stock A categorical variable is qualitative, not measured. AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -02 Describe the difference between a quantitative and a qualitative variable. Topic: Variable 24. Measurements from a population are called A. Elements. B. Observations. C. Variables. D. Processes. By definition, elements and variables are the same ; processes are not measurements. AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -06 Describe the difference between a population and a sample. Topic: Population 1-25 © 201 4 by McGraw -Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in wh ole or part. 25. The two types of quantitative variables are: A. Ordinal and ratio B. Interval and ordinal C. Nominative and ordinal D. Interval and ratio E. Nominative and interval Nominative and ordinal are types of qualitative variables. AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -09 Identify the ratio ; interval ; ordinal ; and nominative scales of measurement. Topic: Variabl e 26. Temperature (in degrees Fahrenheit) is an example of a(n) __________ variable. A. Nominative B. Ordinal C. Interval D. Ratio Temperature is quantitative (excludes nominative and ordinal) and the ratio of two temperatures is not meaningful. AACSB: Reflective Thinking Blooms: Understand Difficulty: 2 Medium Learning Objective: 01 -09 Identify the ratio ; interval ; ordinal ; and nominative scales of measurement. Topic: Variable