ECN221 Marburger Study Guide M1
A data set consists of all the years starting with 1912 and shows governor(s) of Arizona for each year and also shows the number of bills signed into law by the governor(s) in that year. The data in this data set constitute a cross section, i.e., they are cross sectional data.
False
A sample can be larger than, the same size as, or smaller than the population.
False
Critical thinking required: I have taught several sections of an upper division economics course at ASU. In these courses almost every student is an economics major. In these courses about 30% of students are female; this suggests that about 30% of economics majors are female. True or false: if I want to do a study of economics majors I should make sure that about half of my sample, of students, are female since about half of all students are female.
False
Job title at a company is an ordinal variable.
False
Some exam questions may require "critical thinking." Here is an example. This question does not refer back to any definition but requires you to employ critical thinking skills. Suppose that you are working with a statistician and you are designing two mechanisms to possibly draw a sample for your study. Given your budget for collecting the data you can either get a sample of 150 using sampling technique A or you can get a sample of 50 using sampling technique B. True or false: sampling technique A is better (it is preferred).
False
Statistics involves making calculations with numbers and so every statistical question has one correct answer and statisticians do not disagree about their results.
False
ZIP Code is an example of a quantitative variable.
False
Employees are asked which characteristics are most important to them for job satisfaction. They choose from a list which includes: pay; benefits; flexible schedule; opportunities to develop new skill; etc. The responses are taken on what measurement scale?
Nominal
Employees are asked which characteristics are most important to them in a boss. They choose from a list which includes: honest; fair; innovative; creative; gives employees freedom to solve problems; treats employees with respect; etc. The responses are taken on what measurement scale?
Nominal
Suppose that a survey question asks a person how likely they are to buy a major appliance within the next year. The options for respondents are "very likely", "somewhat likely", "unlikely", "very unlikely." The responses are taken on what measurement scale?
Ordinal
Suppose that a survey question asks respondents to select one of the following for their annual income levels: less than $50,000 at least $50,000 but less than $75,000 at least $75,000 but less than $100,000 $100,000 or more. The responses are taken on what measurement scale?
Ordinal
Suppose that a survey question asks how much a person pays in federal income tax. The responses are taken on what measurement scale?
Ratio
Suppose that a survey question asks how much a person spends on fast food each month. The responses are taken on what measurement scale?
Ratio
Which of the following best describes Starbucks' stock price data? Starbucks stock is traded on the NASDAQ stock exchange and you can see it here.
These data are always time series data.
Which of the following best describes national US gross domestic product data?
These data are always time series data.
A data set consists of all businesses in Tempe that accept Discover Card branded credit cards. The variables in the data set are the total amount of purchases using Discover Card credit cards and how many purchases were made using the card and all the data are for the year 2008. The data in this data set constitute a cross section, i.e., they are cross sectional data.
True
A data set consists of the amount of sales tax revenue for the city of Mesa for each month of 1995. The data in this data set are time series data.
True
A data set consists of the number of new stores opened, internationally, for the years 1995 through 2015. The data in this data set are time series data.
True
An example of descriptive statistics is, a report shows the sample mean, standard deviation and range for the student loan debt of 217 ASU seniors.
True
An example of descriptive statistics is, computing the average sales volume for a three month period (aka one quarter).
True
An example of inferential statistics is, drawing the conclusion that the average amount people spend on coffee each year is between $325 and $610.
True
An example of inferential statistics is, observing a sample of people that majored in finance and a group of people that majored in linguistics and concluding that people with finance degrees make more money than people with degrees in linguistics.
True
If data are non-numeric then they must be qualitative.
True
Qualitative data are never taken using the interval measurement scale.
True
Qualitative data can be numeric.
True
Statistics, the discipline, involves collecting data.
True
The maximum is the largest value among the observations. True or false: the maximum is a statistic.
True
ZIP Code is an example of a numeric variable.
True