Econ 2300 Kennesaw State Chap 1 & 2

In constructing a frequency distribution (histogram), the approximate class width is computed as

(largest data value - smallest data value)/number of classes

In a cumulative percent frequency distribution, the last class will have a cumulative percent frequency equal to

100

The sum of the percent frequencies for all classes will always equal

100

In a random sample of 200 items, 5 items were defective. An estimate of the percentage of defective items in the population is

2.5%

Quantitative data can be measured in

All of the above

A variable is a _____ of an element.

Characteristic

Looking at the grades in a Business Stats class of thirty students is best described as

Cross-sectional analysis

A runs plots falls under the category of

Descriptive statistics

Which of the following is a ratio scale variable?

Height in centimeters

Which of the following is an interval variable?

Height in centimeters

A poll conducted among 100 randomly selected individuals used to predict a national election falls under the category of

Inferential statistics

Which of the following is closest to a qualitative variable?

Mood in smileys

Which of the following is NOT included in a dataset?

Pergaments

Which of the following is a nominal variable?

Race

A time series plot is essentially a:

Scatterplot

Looking at the transcript of one student over the semesters is best described as a

Time-series analysis

Business statistics is NOT concerned with _____ data?

Tweaking

Which of the following is an ordinal variable?

Year in college (Freshman, Sophomore, Junior, Senior)

Social security numbers consist of numeric values. Therefore, social security is an example of

a categorical variable

If a variable has possible values -2, 6, and 17, then this variable is

a discrete variable

One hundred students from a large university were asked about their opinion on the new health care program. The 100 represents

a sample

A graphical presentation of the relationship between two variables is

a scatter plot

A frequency distribution is

a tabular summary of a set of data showing the frequency of items in each of several nonoverlapping classes

A population includes:

all objects of interest in a particular study

Quantitative data

are always numeric

Fifteen percent of the students in a school of Business Administration are majoring in Economics, 20% in Finance, 35% in Management, and 30% in Accounting. The graphical device(s) which can be used to present these data is (are)

both a bar graph and a pie chart

Data obtained from a nominal scale

can be either numeric or nonnumeric

In a questionnaire, respondents are asked to mark their gender as male or female. Gender is an example of a

categorical variable

A tabular method that can be used to summarize the data on two variables simultaneously is called

crosstabulation

The relative frequency of a class is computed by

dividing the frequency of the class by the sample size

Quantitative data refers to data obtained with a(n)

either interval or ratio scale

If several histograms are constructed from the same data set, the distribution with the widest class width will have the _____ classes.

fewest

The most common graphical presentation of quantitative data is a

histogram

In constructing a frequency distribution (histogram), as the number of classes are decreased, the class width

increases

The sample size

is always smaller than the population size

A histogram is said to be skewed to the left if it has a

longer tail to the left

Categorical data

may be either numeric or nonnumeric

Employee Number is an example of data.

nominal

A frequency distribution is a tabular summary of data showing the

number of items in several classes

Statistical studies in which researchers do not control variables of interest are

observational studies

In a cumulative relative frequency distribution, the last class will have a cumulative relative frequency equal to

one

The sum of the relative frequencies for all classes will always equal

one

Some hotels ask their guests to rate the hotel's services as excellent, very good, good, and poor. This is an example of the

ordinal scale

Qualitative data can be graphically represented by using a(n)

pie chart

Which of the following is not a scale of measurement?

primal

A researcher is gathering data from four geographical areas designated: South = 1; North = 2; East = 3; West = 4. The designated geographical regions represent

qualitative data

A tabular summary of a set of data showing the fraction of the total number of items in several classes is a

relative frequency distribution

When a histogram has a longer tail to the right, it is said to be

skewed to the right

Temperature is an example of a variable that uses

the interval scale

The sum of frequencies for all classes will always equal

the number of elements in a data set

A cumulative relative frequency distribution shows

the proportion of data items with values less than or equal to the upper limit of each class

In a cumulative frequency distribution, the last class will always have a cumulative frequency equal to

the total number of elements in the data set

. A variable is classified as ordinal if:

there is a natural ordering of categories

Data collected over several time periods are

time series data

In a scatter diagram, a line that provides an approximation of the relationship between the variables is known as

trend line

A characteristic of interest for the elements is called a(n)

variable