Econ 210 - Exam 1

A university wishes to conduct a student survey. In one of the questions students are asked to mark their gender as either male or female. Gender is an example of the

nominal scale

A group of women tried five brands of fingernail polish and ranked them according to preference. What level of measurement is this?

Ordinal

Which of the following are attributes of a discrete quantitative variable? Choose all that apply.

There are gaps between the values of this variable. It can be used to count items, in which case it can only have integer values. It can assume only certain values within a range.

Which of the following is an example of a continuous variable?

Tons of concrete to complete a parking garage

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

False because inferential statistics makes predictions about a population based on a sample of data taken from the population.

Which three of the following are samples in the statistical sense?

Every eighth person on the class roster. Ten apples selected from a grocery store bin containing 100 apples. Six randomly chosen books from the library.

Which of the following are discrete variables? Choose all that apply. a. The number of cars for sale on a used car lot. b. The height of trees in Central Park. c. The amount of time a student studied for a test. d. The number of customers using an ATM on a given day.

a. The number of cars for sale on a used car lot. d. The number of customers using an ATM on a given day.

Which of the following is not an example of a statistic? a. The unemployment rate in the United States for last month b. The average profit earned last year for the 10 top companies on the Dow Jones Index c. A list of the profits earned last year for 100 companies in the United States d. The weekly income of the typical high school graduate compared to a typical college graduate

a. The unemployment rate in the United States for last month

Ethical statisticians

use honesty and integrity when summarizing, analyzing, and interpreting data.

A survey includes a question about marital status that has the following responses: single, married, divorced, separated, or widowed. What is the level of measurement for this question?

Nominal

Match the following levels of data to the description of the observations.

Nominal -The types of fruit in a grocery store. Ordinal - Movie ratings. Interval -Shoe sizes. Ratio - Stock prices.

The nominal level of data describes what type of information?

Observations of a qualitative variable that can only be classified and counted.

What level of data is represented by th What level of data is represented by the ages of patients in a local hospital?

Ratio

What level of measurement are data on the milepost numbers?

Ratio

Which level of data gives the most information about the observation?

Ratio

What are the two types of quantitative variables?

Discrete and Continuous.

Which of the following are example of inferential statistics? Select all that apply.

Estimating the average weight in a box of apples by measuring the weight of five apples. Counting the blue candies in a package of M&M's as a way to estimate the proportion of blue candies in all packages.

Which one of the following is a population in the statistical sense? a. The amount purchased by every 25th customer at Best Buy on Saturday. b A handful of jelly beans from a jar of mixed flavors. c. The number of people living in Kansas City. d. All of the automobiles sold in Canada in 2016.

d. All of the automobiles sold in Canada in 2016.

The main purpose of descriptive statistics is to

summarize data in a useful and informative manner.

How has technology increased the need for statistical analysis? a. Vast amounts of data are collected, and understanding it requires statistical knowledge. b. Technology has made our lives simpler in many ways. c. Computers make it easy to calculate statistical information.

Vast amounts of data are collected, and understanding it requires statistical knowledge.

Identify all of the following items which are quantitative variables. a. The miles per gallon for a particular model of car. b. The color of a person's eyes. c. The major of a college graduate. d. The weight of a Siamese cat.

d. The weight of a Siamese cat. a. The miles per gallon for a particular model of car.

Which of the following variables is recorded at the ratio level of measurement?

Salaries of business school graduates.

When statisticians analyze sample data in order to draw conclusions about the characteristics of a population, this is referred to as

statistical inference.

The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called

statistics

Which of the following best describes interval-level data?

The distance between values is a known unit of measure.

How does statistics help us understand large amounts of numerical information?

A good working knowledge of statistics is useful to organize and summarize information.

Which of the following variables is recorded at the interval level of measurement?

A man's shoe size.

A marketing class of 50 students evaluated the instructor using the following scale: superior, good, average, poor, or inferior. The descriptive summary showed the following survey results: 2% superior, 8% good, 45% average, 45% poor, and 0% inferior.

A marketing class of 50 students evaluated the instructor using the following scale: superior, good, average, poor, or inferior. The descriptive summary showed the following survey results: 2% superior, 8% good, 45% average, 45% poor, and 0% inferior.

Identify all of the following items which are qualitative variables.

A person's favorite food type. The colors in a package of M&M's. The species of trees in a park.

Which of the following represents data recorded at the nominal level?

Brand of newly purchased TV.

Which best describes the purpose of business analytics?

Business analytics is used to process and analyze data and information to support a story or narrative of a company's business.

Which of the following are examples of descriptive statistics? Select all that apply.

Calculating summary measures of the prices of houses sold in Las Vegas in January. Creating a pie chart to show majors of students in your business statistics class.

What type of variable is "pounds of popcorn" served at a movie theater?

Continuous

What level of measurement is the Centigrade temperature scale?

Interval

Which of the following are the four levels of measurement possible for data?

Interval level Ordinal-level Nominal-level Ratio-level

Which of the following are properties of ratio-level data? Choose all that apply.

It has all the properties of interval-level data. The zero point of the data is meaningful. The ratio between two measures is meaningful.

What level of data is represented by the genres of music played by different radio stations?

Nominal

What level of data is represented by the fire risk (Low, Moderate, High or Severe) today in Arapahoe National Forest?

Ordinal

What level of measurement were data on the consecutive exit numbers?

Ordinal

A research project to find how many heart attack patients are admitted on January 1 to a famous hospital.

Population

A portion or part of a population is called a

Sample

A study to find the quality of matchsticks in a bundle of 100 matchboxes.

Sample

A survey to rank the famous television shows in the United States.

Sample

Which of the following represent statistical information? Select all that apply.

The median income in Wasau County is $40,578 per year. Lucky's Market sells a maximum of 240 kilograms of apples per month. On average there are 12.5 chocolate chips in a Chips Hello cookie.

Which of the following is classified as ordinal-level data?

Someone's ranking of their three favorite foods.

Which of the following are reasons to study statistics? Select all that apply.

Statistics are used to make personal and professional decisions Statistical knowledge is needed to understand the world and be conversant in your career. Data is collected everywhere, and statistics is needed to translate that data into useful information.

Which one of the following are properties of ordinal-level data?

The data can be ranked or counted.

Which is the best definition of a quantitative variable? a. A variable that can be reported numerically b. Eye color, gender, species of tree, or brand of show c. Number of text messages sent in a week, the number of miles traveled to work, or the time required to answer a customer inquiry d. Non numeric characteristic of an object or individual

a. A variable that can be reported numerically

What is descriptive statistics? a. Methods of organizing, summarizing, and presenting data in an informative way. b. Methods used to build a forecasting model to predict sales. c. Methods used to estimate a population parameter based on a sample.

a. Methods of organizing, summarizing, and presenting data in an informative way.

Which of the following is the best definition of a statistical sample? a. The arithmetic mean of a set of measurements. b A random selection of 20 people to buy coffee at Mike's on Friday. c. A portion, or part of the population of interest. d. The entire set of individuals or objects or measurements of interest.

c. A portion, or part of the population of interest.

Ethical statisticians:

candid about any known or suspected limitations, defects, or biases in the data that may affect the integrity or reliability of the statistical analysis.

An example of a qualitative variable is

color of ink in a pen.

The two categories of statistical study are:

descriptive statistics and inferential statistics

Which of the following is not part of the science of statistics? a. Choosing data that supports your conclusion. b. Analyzing data. c. Interpreting data to assist in decision making. d. Presenting data in a clear way. e. Collecting and organizing data.

Choosing data that supports your conclusion.

Your height and weight are examples of which level of measurement?

Ratio

Which three of the following are not proper and ethical activities for a statistician in working with data

Use samples that represent only a desired part of a population, Remove outliers that bias the data too far in one direction. Report only those statistics that support his conclusions.

Which of the following is the best definition of a statistical population? a. The entire set of individuals, objects or measurements of interest. b. The set of all types of statistics that can be listed for a group of individuals or objects. c. The number of people living in a particular city. d. A portion or part of a set of objects or measures of interest.

a. The entire set of individuals, objects or measurements of interest.

Which of the following are attributes of a continuous quantitative variable? Choose all that apply.

It is typically the result of measuring something. It can take on any value within a range of values. There are no required gaps between values.

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.

Which of the following best describes the role of a statistician in working with data?

He should strive to present his analysis with clarity, honesty, and integrity.

What type of variable is the number of auto accidents reported in a given month?

Discrete

True or False: The primary purpose of statistics is to present numerical data.

False because statistics is about collecting and processing information to provide a basis for decision making.

What is inferential statistics? a. Methods of organizing and presenting data. b. Methods of calculating summary statistics from a set of data. c. Methods of estimating a property of a population based on a sample.

Methods of estimating a property of a population based on a sample.

Which of the following is true? a. No matter what your career, you need a knowledge of statistics to understand the world. b. Statistics is never required to make personal decisions. c. Statistical techniques are only useful for certain professions. d. Data is collected and analyzed for you by computer programs, so there is no need to understand statistics.

No matter what your career, you need a knowledge of statistics to understand the world.

An evaluation of the creativity of the director of three films.

Population

The names of the positions in a corporation, such as chief operating officer or controller, are examples of what type of variable?

Qualitative

What type of variable is the number of gallons of gasoline pumped by a filling station during a day?

Qualitative

What type of variable is the number of robberies reported in your city?

Quantitative

The incomes of 50 loan applicants are obtained. Which level of measurement is income?

Ratio

The reported unemployment is 5.5% of the population. What level of measurement is used to measure unemployment?

Ratio

Income is a variable often used in business and economics. Income is an example of a variable that uses the _________.

Ratio scale EX: wages, units of production, weight, changes in stock prices, distance between branch offices, and height.

Identify which one of the following is a continuous quantitative variable.

The average weight of apples in a box at the market.

Which of the following examples are statistics? Select all that apply.

The number of home runs in last year's World Series. Yesterday's share price for Proctor and Gamble stocks. The median price of a house in Detroit.

The newer system provided information on the distance between exits.

True

True or false: Statistics knowledge is necessary to successfully use business analytics.

True because the knowledge of statistics is necessary to successfully use business analytics.