Business Analytics Test 1
1) Statistics is the mathematical science that deals with the collection, analysis, and presentation of data-data that can then be used as a basis for inference and induction.
true
11) Bias can occur in a survey when a question is stated in a way that encourages or leads a respondent to a particular answer.
true
14) A manager of an electronics store would like to investigate the impact that price has on the demand for laptop computers. Each week, the price of a Dell laptop is adjusted and the demand for each week is recorded. This is an example of an experiment being used to collect data.
true
15) To help ensure good questionnaire design, it is recommended that a survey is tested on a small group of respondents before releasing it to the actual participants.
true
18) Education level is an example of nominal data
true
2) Business Analytics are statistics applied to the business world in an effort to improve people's decision making in fields such as marketing research, operations, finance, and advertising.
true
20) The interval measurement level is considered quantitative data
true
21) Histograms displaying discrete data usually have gaps between their bars.
true
22) Income and age are examples of data that are technically discrete but are normally displayed in a continuous format.
true
22) The number of pages in your business statistics textbook is an example of quantitative data.
true
24) A respondent to a survey indicates that she drives a Ford Taurus. This is an example of qualitative data.
true
29) Pareto charts are a specific type of bar chart used in quality control programs by businesses to graphically display the causes of problems.
true
3) Continuous data is often the result of measuring observations rather than counting them.
true
30) The purpose of inferential statistics is to make claims or conclusions about a population based on a sample.
true
31) A limitation of descriptive statistics is that, by summarizing large quantities of data, you lose information
true
31) Pie charts are an excellent tool for comparing proportions for qualitative (categorical) data.
true
33) Deciding that a process that fills bottles with soda is functioning properly by checking the weights for a sample of bottles is an example of inferential statistics.
true
33) When constructing a pie chart, all categories in the data set must be included in the pie.
true
34) Choose a pie chart rather than a bar chart if you want to compare the relative sizes of the classes to one another and together they comprise all possible categories.
true
35) Determining the proportion of customers who have credit scores greater than 700 is an example of descriptive statistics.
true
36) Contingency tables help us identify relationships between two or more variables.
true
37) Statistics can be misused by making differences seem greater or lesser by adjusting the scale on graphs.
true
4) One of the major reasons to use statistics is to transform data into information.
true
41) The dependent variable in a scatter plot is influenced by changes in the independent variable.
true
42) A data set is known as a times series when each data point is associated with a specific point in time.
true
5) The only limitation in the number of continuous values within an interval is the level of precision of the measuring instrument.
true
6) Primary data is data collected by the person or organization that eventually uses the data
true
6) The sum of the relative frequencies for the relative frequency distribution should be equal to or very close to 1.0 due to rounding.
true
8) A symmetrical distribution is one in which the right side of the distribution looks like the mirror image of the left side of the distribution.
true
8) Analyzing unemployment data from the Bureau of Labor Statistics is an example of using secondary data.
true
9) A hotel employee asks customers who are checking out to rate their satisfaction on a scale of 1-10. This is an example of collecting primary data.
true
9) The goal of constructing a frequency distribution is to identify a useful pattern in the data and often there is more than one acceptable way to accomplish this with grouped quantitative data.
true
26) Bar charts can display data either horizontally or vertically.
true.
40) Gathering information from potential customers in an effort to determine their preferences is an example of using statistics in the field of ________. A) marketing research B) advertising C) operations D) finance
A
45) ________ data are values based on observations that can be counted and are typically represented by whole numbers. A) Discrete B) Continuous C) Nominal D) Time series
A
46) A method of gathering data while the subjects of interest are in their natural environment, often unaware they are being watched, is known as ____________. A) direct observation B) focus groups C) experiments D) surveys
A
49) A Bank of America employee records the amount of time that customers spend using the ATM machine at her branch. This method of gathering data is known as _______________. A) direct observation B) focus groups C) experiments D) surveys
A
56) Which levels of measurement are considered quantitative data? A) interval and ratio B) nominal and interval C) nominal and ratio D) nominal and ordinal
A
59) A respondent of a survey indicates that he is a resident in the state of Ohio. This is an example of _________ data. A) nominal B) ordinal C) interval D) ratio
A
64) A respondent of a survey indicates that he owns the home that he currently resides. This is an example of ____________ data. A) nominal B) ordinal C) interval D) ratio
A
69) ________ data are values collected from a number of subjects (firms, individual, states, regions, and so forth) during a single time period. A) Cross-sectional B) Ordinal C) Time series D) Ratio
A
72) The following table shows the market share for flat-panel television sales in the second quarter of 2013. Company Market Share Samsung 26.5% LG 16.3% Sony 8.0% Panasonic 5.3% Guangdong 5.1% Other 38.8% Which of the following data types best describe these values? A) cross-sectional B) nominal C) time series D) ordinal
A
73) The results from a survey that collected annual household income is shown in the following table. Household Income ($000) Number of Households Under $30 67 $30 to under $40 111 $40 to under $50 125 $50 to under $60 21 $60 to under $70 38 Over $70 40 Which of the following data types best describe these values? A) cross-sectional B) nominal C) time series D) ordinal
A
81) A ________ is a portion of a population that is representative of the population from which it is selected. A) sample B) survey C) statistic D) parameter
A
82) The following chart shows the average number of fast food meals consumed per year by 18- to 24-year-olds. Which of the following statements is not correct? A) The average ticket price has decreased over time. B) The lowest average ticket price occurred in 2006. C) The highest average ticket price occurred in 2012. D) The average ticket price in 2010 was higher than the average ticket price in 2008. (pic 4)
A
38) Collecting data about the number of television viewers for the Summer Olympics is an example of using statistics in the field of ________. A) human resources B) advertising C) operations D) finance
B
42) ________ is (are) derived from facts for the purpose of making decisions. A) Data B) Information C) Statistics D) Samples
B
47) A method of gathering data when individuals are paid to discuss their attitudes towards products or services in a group setting controlled by a moderator is known as ____________. A) direct observation B) focus groups C) experiments D) surveys
B
51) A marketing manager for a textbook publisher meets with a group of several students who are paid to discuss what they like and dislike about their textbooks. This method of gathering data is known as _____________. A) direct observation B) focus groups C) experiments D) surveys
B
54) Which of the following is an example of quantitative data? A) the zip code of your home address B) Apple's closing stock price today C) your gender D) your telephone number
B
62) A respondent of a survey indicates that she is currently in her junior year at the University of Texas. This is an example of _________ data. A) nominal B) ordinal C) interval D) ratio
B
65) A respondent of a survey is asked whether their most recent dining experience was excellent, good, fair, or poor. The person indicates that the experience was "good". This is an example of __________ data. A) nominal B) ordinal C) interval D) ratio
B
80) A ________ represents all possible subjects of interest. A) sample B) population C) statistic D) parameter
B
81) The following chart shows the average movie ticket price according to a survey by the National Association of Theater Owners. This chart is an example of a _________ chart. A) horizontal bar B) vertical bar C) stacked bar D) Pareto (pic 3)
B
41) Using quality control techniques to test the salt content of pretzels before they are packaged for the consumer is an example of using statistics in the field of ________. A) marketing research B) advertising C) operations D) finance
C
44) A method of gathering data when subjects are exposed to certain treatments and the data of interest is recorded is known as ____________. A) direct observation B) focus groups C) experiments D) surveys
C
48) ________ display the proportion of observations of each class relative to the total number of observations. A) Frequency distributions B) Cumulative relative frequency distributions C) Relative frequency distributions D) Histograms
C
50) The manager at the local Ruby Tuesday's restaurant wanted to investigate the effect of music on the average revenue per customer. Each night for one month, fast-paced music was played. The following month, slow-paced music was played every night. The average revenue per customer for each month was compared. This method of gathering data is known as __________. A) direct observation B) focus groups C) experiments D) surveys
C
51) A statistics professor kept attendance records and recorded the number of absent students per class. This data is displayed in the following histogram with the frequency of each number of absent students shown above the bars. How many total classes do these data represent? A) 46 B) 100 C) 129 D) 150 (go to histogram pic 1)
C
52) ________ data use numerical values to describe something of interest either by measuring it or counting it. A) Primary B) Secondary C) Quantitative D) Qualitative
C
62) ________ classes are classes with boundaries that do not overlap. A) Equal-size B) Open-ended C) Mutually exclusive D) Close-ended
C
68) ________data are values that correspond to specific measurements taken over a range of time periods. A) Cross-sectional B) Ordinal C) Time series D) Ratio
C
70) The following table shows the number of bagels sold at the Avalon Coffee and Bagel over the past seven days. Day Number Sold Monday 69 Tuesday 63 Wednesday 88 Thursday 74 Friday 120 Saturday 197 Sunday 226 Which of the following data types best describe these values? A) cross-sectional B) nominal C) time series D) ordinal
C
71) The following table shows the stock price for Facebook at the end of the past four quarters. Quarter Year Stock Price 4 2012 $25.91 1 2013 $25.73 2 2013 $24.88 3 2013 $51.24 Which of the following data types best describe these values? A) cross-sectional B) nominal C) time series D) ordinal
C
74) Your business statistics class had an exam last week. The average exam score for the class is an example of ______________. A) secondary data B) qualitative data C) descriptive statistics D) inferential statistics
C
75) The proportion of customers that rate their latest airline experience as "excellent" is an example of _______________. A) secondary data B) qualitative data C) descriptive statistics D) inferential statistics
C
79) According to climate data recorded since 1884, the average annual snowfall in Philadelphia is 22.3 inches. This value is an example of _______________. A) biased data B) qualitative data C) descriptive statistics D) inferential statistics
C
83) Data that describe a characteristic about a sample is known as a ________. A) population B) survey C) statistic D) parameter
C
84) A ________ sample does not represent the intended population and can lead to distorted findings. A) random B) probability C) biased D)stratified
C
39) Using income data to determine the credit worthiness of a consumer who wishes to purchase a new car is an example of using statistics in the field of ________. A) marketing research B) advertising C) operations D) finance
D
45) A method of gathering data when people are asked a series of questions that can be administered by e-mail, via the Web, face-to-face or over the telephone, is known as _________. A) direct observation B) focus groups C) experiments D) surveys
D
46) ________ are values that can take on any real numbers, including numbers that contain decimal points. This data is often the result of measuring observations rather than counting them. A) Discrete B) Cross-sectional C) Ordinal D) Continuous
D
48) A telemarketer calls individuals at home over the phone and ask them the likelihood that they will purchase a timeshare property over the next 12 months. This method of gathering data is known as ____________. A) direct observation B) focus groups C) experiments D) surveys
D
50) A ________ is a graph showing the number of observations in each class of a frequency distribution. A) frequency distribution B) polygon C) relative frequency distribution D) histogram
D
53) ________ data use descriptive terms to measure or classify something of interest. A) Primary B) Secondary C) Quantitative D) Qualitative
D
55) Which of the following is an example of qualitative data? A) today's high temperature B) the class average of your last statistics exam C) the amount of time that you studied for your last statistics exam D) your last name
D
61) In a Major League Baseball game today, the Philadelphia Phillies scored six runs against the New York Mets. This is an example of _________ data. A) nominal B) ordinal C) interval D) ratio
D
76) General Mills is considering offering a new type of yogurt. To gauge interest, they are performing taste tests at different locations around the country. Based on the results of these samples, they will decide whether or not to market the new yogurt. This is an example of using ________________. A) secondary data B) qualitative data C) descriptive statistics D) inferential statistics
D
77) Bridgestone would like to estimate the average tread life of a particular brand of automobile tire. Fifty customers who have purchased this tire are sampled and asked about the tread life of their tires. This is an example of using _______________. A) secondary data B) qualitative data C) descriptive statistics D) inferential statistics
D
78) Holiday Inn would like to estimate the satisfaction level of its customers. A sample of 25 hotels were selected and the customers at these locations were asked to rate their experience on a scale of 1-10. Based on this sample data, Holiday Inn will draw a conclusion about the satisfaction level of their customers. This is an example of using _____________. A) secondary data B) qualitative data C) descriptive statistics D) inferential statistics
D
79) The following chart shows the percentage of adults from various countries who admitted to texting while driving in a recent survey. This chart is an example of a _________ bar chart. A) horizontal B) stacked C) clustered D) vertical (pic 2)
D
82) Data that describe a characteristic about a population is known as a ________. A) sample B) survey C) statistic D) parameter
D
89) ________ charts are a specific type of bar chart used in quality control programs by businesses to graphically display the causes of problems. A) Stacked bar B) Clustered bar C) Pie D) Pareto
D
10) Analyzing snowfall amounts in New York over the past 100 years to help predict future weather patterns is an example of using primary data.
false
12) A restaurant manager randomly selects tables at which customers have just been seated and records the amount of time it takes for the wait staff to greet these customers. This is an example of an experiment being used to collect data.
false
2) Continuous data are values based on observations that can be counted and are typically represented by whole numbers.
false
20) Histograms displaying continuous data have gaps between their bars.
false
23) Your cell phone number is an example of quantitative data.
false
24) Quantitative data are values that are categorical, describing a characteristic such as gender or level of education.
false
25) A respondent to a survey indicates that he has lived in his current residence for three years. This is an example of qualitative data.
false
3) Information is the basic foundation for the field of statistics and can be defined as the value assigned to a specific observation or measurement.
false
32) Each category of a pie chart occupies a segment of the pie that represents the cumulative relative frequency of that category.
false
32) Predicting election results by asking voters their intentions is an example of descriptive statistics.
false
34) Calculating the average time callers wait on the phone for technical support is an example of inferential statistics.
false
39) The dependent variable on scatter plots is placed on the horizontal axis on the graph.
false
4) Discrete data can have an infinite number of values within a specific interval.
false
40) The independent variable on scatter plots is placed on the vertical axis on the graph.
false
43) When graphing a time series, the convention is to place the time data on the vertical axis of the graph.
false
7) Asking customers at the shopping mall about their voting intentions in the upcoming political election is an example of secondary data.
false
1) A frequency distribution is a table that shows the number of data observations that fall into specific intervals. (practice exam 2)
true