Chapter 1 SmartBook
descriptive statistics and inferential statistics
The two categories of statistical study are:
False
Descriptive statistics uses the data to make inferences and predictions about a population based on a sample of data taken from the population in question. True or False
The median price of a house in Detroit. Yesterday's share price for Proctor and Gamble stocks. The number of home runs in last year's World Series.
Select all that apply Which of the following examples are statistics? Select all that apply. The median price of a house in Detroit. The typical genre of music played on KCFR. Yesterday's share price for Proctor and Gamble stocks. The number of home runs in last year's World Series.
Methods of estimating a property of a population based on a sample.
What is inferential statistics?
Google uses search engine data records to prioritize results for future searches. Retailers use product purchase data to manage the distribution of products and make marketing and sales decisions.
Select all that apply Which of the following are examples of how organizations use statistics? Google uses search engine data records to prioritize results for future searches. A consumer uses the nutrition information on a package of snack chips to make a purchase decision. Retailers use product purchase data to manage the distribution of products and make marketing and sales decisions.
Observations of a qualitative variable that can only be classified and counted.
The nominal level of data describes what type of information? Data that can be measured using a continuous variable. Observations of a quantitative variable where differences between measures are constant in size. Data that can be ranked in order. Observations of a qualitative variable that can only be classified and counted.
Business analytics is used to process and analyze data and information to support a story or narrative of a company's business.
Which best describes the purpose of business analytics? Profitability analysis Business analytics is used to process and analyze data and information to support a story or narrative of a company's business. Vast amounts of data are collected, and understanding it requires statistical knowledge. Provide justification for a change in marketing strategy
Statistics are used to make personal and professional decisions Data is collected everywhere, and statistics is needed to translate that data into useful information. Statistical knowledge is needed to understand the world and be conversant in your career.
Select all that apply Which of the following are reasons to study statistics? Select all that apply. Statistics are used to make personal and professional decisions Data is collected everywhere, and statistics is needed to translate that data into useful information. Complex statistics will impress those who are less knowledgeable. Statistical knowledge is needed to understand the world and be conversant in your career.
Methods of organizing, summarizing, and presenting data in an informative way.
What is descriptive statistics?
Ratio
Which level of data gives the most information about the observation? Ratio Interval Nominal Ordinal
The zero point of the data is meaningful. The ratio between two measures is meaningful.
Which of the following are properties of ratio-level data? It is the lowest level of measurement. The zero point of the data is meaningful. The ratio between two measures is meaningful. It is a qualitative measure with no natural ordering.
On average there are 12.5 chocolate chips in a Chips Hello cookie. Lucky's Market sells a maximum of 240 kilograms of apples per month. The median income in Wasau County is $40,578 per year.
Select all that apply Which of the following represent statistical information? On average there are 12.5 chocolate chips in a Chips Hello cookie. Lucky's Market sells a maximum of 240 kilograms of apples per month. The median income in Wasau County is $40,578 per year. Salt water is clearer than muddy water.
Creating a pie chart to show majors of students in your business statistics class. Calculating summary measures of the prices of houses sold in Las Vegas in January.
Select all that apply Which of the following are examples of descriptive statistics? Select all that apply. Sampling voters to see who is going to win an election. Creating a pie chart to show majors of students in your business statistics class. Checking the price a camera at four stores to estimate its average sale price. Calculating summary measures of the prices of houses sold in Las Vegas in January.
Nominal-level Ratio-level Interval level Ordinal-level
Select all that apply Which of the following are the four levels of measurement possible for data? Discontinuous level Nominal-level Ratio-level Interval level Ordinal-level Quantitative-level
Someone's ranking of their three favorite foods
Which of the following is classified as ordinal-level data? Someone's favorite sport (soccer, swimming, ...). Someone's ranking of their three favorite foods. The weight of a package to be mailed. The most popular selling dress size.
On average there are 12.5 chocolate chips in a Chips Hello cookie. The median income in Wasau County is $40,578 per year. Lucky's Market sells a maximum of 240 kilograms of apples per month.
Select all that apply Which of the following represent statistical information? On average there are 12.5 chocolate chips in a Chips Hello cookie. Salt water is clearer than muddy water. The median income in Wasau County is $40,578 per year. Lucky's Market sells a maximum of 240 kilograms of apples per month.
The statistician should strive to present his analysis with clarity, honesty, and integrity.
Which of the following best describes the role of a statistician in working with data? The statistician should discard data which is obviously wrong. The statistician should choose appropriate measures to confirm what he wants to convey. The statistician should strive to present his analysis with clarity, honesty, and integrity. The statistician should mine the data for information to support his conclusions.
True
True or false: Statistics knowledge is necessary to successfully use business analytics. True or False
Data is collected everywhere, and statistics is needed to translate that data into useful information. Statistical knowledge is needed to understand the world and be conversant in your career. Statistics are used to make personal and professional decisions
Select all that apply Which of the following are reasons to study statistics? Select all that apply. Complex statistics will impress those who are less knowledgeable. Data is collected everywhere, and statistics is needed to translate that data into useful information. Statistical knowledge is needed to understand the world and be conversant in your career. Statistics are used to make personal and professional decisions
The species of trees in a park. A person's favorite food type. The colors in a package of M&M's.
Select all that apply Identify all of the following items which are qualitative variables. The species of trees in a park. A person's favorite food type. The colors in a package of M&M's. The number of cookies in a package of Oreo's.
The miles per gallon for a particular model of car. The weight of a Siamese cat.
Select all that apply Identify all of the following items which are quantitative variables. The major of a college graduate. The miles per gallon for a particular model of car. The weight of a Siamese cat. The color of a person's eyes.
Retailers use product purchase data to manage the distribution of products and make marketing and sales decisions. Google uses search engine data records to prioritize results for future searches.
Select all that apply Which of the following are examples of how organizations use statistics? Retailers use product purchase data to manage the distribution of products and make marketing and sales decisions. Google uses search engine data records to prioritize results for future searches. A consumer uses the nutrition information on a package of snack chips to make a purchase decision.
The distance between values is a known unit of measure.
Which of the following best describes interval-level data? The distance between values is a known unit of measure. The measures can be ranked in order. The ratio between two measures is meaningful. The observations can only be counted.
Someone's ranking of their three favorite foods.
Which of the following is classified as ordinal-level data? Someone's ranking of their three favorite foods. The most popular selling dress size. Someone's favorite sport (soccer, swimming, ...). The weight of a package to be mailed.
Brand of newly purchased TV.
Which of the following represents data recorded at the nominal level? Today's high temperature, for example 83 degrees Fahrenheit. The time a patient waits for the doctor. Brand of newly purchased TV. "Above average" rating given by customer at restaurant.
Report only those statistics that support his conclusions Use samples that represent only a desired part of a population.
Select all that apply Which three of the following are not proper and ethical activities for a statistician in working with data? Remove data that present product defects Report only those statistics that support his conclusions Present his conclusions with clarity and integrity Use samples that represent only a desired part of a population.
A man's shoe size.
Which of the following variables is recorded at the interval level of measurement? The publisher of a textbook. Number of patients visiting the ER today. Number of books on a table. A man's shoe size.
Salaries of business school graduates
Which of the following variables is recorded at the ratio level of measurement? The most popular color of car The Fahrenheit temperature on the first day of spring A ranking of a student's favorite teachers Salaries of business school graduates
The data can be ranked or counted.
Which one of the following are properties of ordinal-level data? Data classifications are sets of names or labels. The zero point of the data is meaningful. The data can be ranked or counted. It can only be classified and counted.
Counting the blue candies in a package of M&M's as a way to estimate the proportion of blue candies in all packages. Estimating the average weight in a box of apples by measuring the weight of five apples.
Select all that apply Which of the following are example of inferential statistics? Select all that apply. Making a bar chart from a set of data. Counting the blue candies in a package of M&M's as a way to estimate the proportion of blue candies in all packages. Estimating the average weight in a box of apples by measuring the weight of five apples. Placing the prices of houses for sale in April in Boston in rank order.