Statistics Ch.1

When should sampling, rather than surveying an entire population, be used? Select all that apply.

- When examining the entire population is expensive. - When examining the population items destroys the items. - When examining the entire population takes too much time.

Descriptive statistics involves which of the following? Select all that apply.

- Organizing data into charts and tables. - Calculating numerical measures to summarize a set of data.

Unstructured data would most likely be found in

Social Media

Which of the following is an example of inferential statistics?

Test the longevity of all light bulbs based on a sample of 100 light bulbs.

Which of the following characteristics of interest is a variable?

The number of pizzas ordered from Pizza Hut per day

Which of the following is an example of cross-sectional data?

The number of students in each business major at the start of this semester.

Which of the following scenarios is an example of the interval scale?

The outside temperature (in degrees Fahrenheit)

Which of the following statements is false?

The ratio scale is used for a qualitative variable.

Data that are collected by recording a characteristic of a subject over several time periods are referred to as ______ data.

Time Series

A company wants to estimate the mean price of oil over the past 10 years. What type of data does the company need?

Time Series Data

Statistics is used

To make informed decisions based on data. Pg 4

A characteristic of interest that differs among various observations is referred to as a ______.

Variable

Structured data would most likely be found

- In an Excel spreadsheet - In an Access database

Which of the following are true regarding big data? Select all that apply.

- Big data does not imply population data. - Big data can be computationally burdensome.

Sampling is necessary when it is either impractical or impossible to survey the entire population. In which situation does surveying the entire population INSTEAD OF sampling just a part of the population make the most sense?

A teacher who has 30 students in her class wants to determine the average of the most recent test scores.

Northern University wants to determine the average starting salary for last year's graduates of its College of Business. What is the population from which the survey is taken?

All of last year's graduates from Northern's College of Business who started working

The interval scale of measurement

Allows for the use of negative values

A significant weakness of the ordinal scale is

An inability to measure differences between the ranked values

The catchphrase to describe the massive amounts of structured and unstructured data that is being generated by businesses and organizations is called _____.

Big Data

All of the following are examples of cross-sectional data EXCEPT?

Quarterly sales for a computer company for the last five years.

With nominal data, you can

Categorize the data

Consider the following variable: a runner's time in a 100-meter race. This variable is best categorized as a ______ variable.

Continuous

Data that are collected about many subjects at the same point in time or without regard to differences in time are known as ______ data.

Cross-sectional

A research analyst collects data on the weekly closing price of gold throughout the year. The scale for these data is ______.

Ratio

The branch of statistics that summarizes important aspects of a data set is often referred to as ______ statistics.

Descriptive

From the scenarios below, indicate the one that BEST reflects the nominal scale.

Designate males as 0 and females as 1 to compare gender performance on an aptitude test.

Consider the following variable: the number of people in a household. This variable is best categorized as a ______ variable.

Discrete

The branch of statistics that draws conclusions about a large set of data based on a smaller set of data is often referred to as ______ statistics.

Inferential

Which measurement scales are associated with quantitative data?

Interval and Ratio

The ratio scale is

More sophisticated than the nominal scale.

In general, we use sample data because

Obtaining data from the population is often an expensive process.

Qualitative data that can be categorized and ranked are measured on the ________ scale.

Ordinal

A ______ includes all items of interest in a statistical problem.

Population

Questionable conclusions are the result of all of the following EXCEPT:

Proper statistical analysis

Consider the following variable: the color of a car in a parking lot. This variable is best categorized as a ______ variable.

Qualitative