Bus Stats SB QMB
Which of the following is true regarding the shape of a histogram? a. Bell-shaped curves have a consistent height across all bars of the histogram. b. Negatively skewed distributions have a cluster of tall bars with several bars to the left that are much shorter. c. Positively skewed distributions have a cluster of tall bars with several bars to the right that are much shorter.
b. Negatively skewed distributions have a cluster of tall bars with several bars to the left that are much shorter. c. Positively skewed distributions have a cluster of tall bars with several bars to the right that are much shorter.
Which of the following levels of measurement are typical of qualitative data? Select all that apply. a. Ratio b. Ordinal c. Interval d. Nominal
b. Ordinal d. Nominal Others are characteristics of quantitative data.
When constructing a histogram, what values/labels go on the horizontal (x) axis and the vertical (y) axes? a. Qualitative categories on the horizontal axis; frequency or relative frequency on the vertical axis. b. Quantitative class limits on the horizontal axis; frequency or relative frequency on the vertical axis. c. Frequency or relative frequency on the horizontal axis; quantitative class limits on the vertical axis. d. Histograms do not have vertical or horizontal axes.
b. Quantitative class limits on the horizontal axis; frequency or relative frequency on the vertical axis.
Which of the following is an example of qualitative data? a. Height b. Shirt color c. Grade point average d. Number of credit hours completed
b. Shirt color The rest are measured or calculated.
Which of the following is an example of inferential statistics? a. Summarize the variability of the exam scores of 40 students based on all 40 exam scores. b. Test the longevity of all light bulbs based on a sample of 100 light bulbs. c. Find the average height of 50 female students at State University. d. Calculate a mutual fund's average return for the last five years.
b. Test the longevity of all light bulbs based on a sample of 100 light bulbs. (The other options are an example of descriptive statistics).
A company wants to estimate the mean price of oil over the past 10 years. What type of data does the company need? a. Correlation data b. Time series data c. Cross sectional data
b. Time series data
With nominal data, you can a. categorize and rank the data. b. categorize the data. c. perform meaningful arithmetical operations, like adding.
b. categorize the data. You cannot rank nominal data. Nominal data are qualitative so you cannot use arithmetic.
A useful tool for summarizing qualitative data is is a(n) a. ogive b. frequency distribution c. histogram d. stem-and-leaf diagram
b. frequency distribution
Structured data would most likely be found a. on someone's Twitter account. b. in an Access database. c. on someone's YouTube channel. d. on someone's Facebook page. e. in an Excel spreadsheet.
b. in an Access database. e. in an Excel spreadsheet.
Questionable conclusions are the result of all of the following EXCEPT: a. 'bad' data points b. proper statistical analysis c. incomplete data points d. insufficient number of data points
b. proper statistical analysis 'Bad' data leads to poor decision making. Missing data an lead to questionable conclusions. it can be dangerous to draw conclusions from limited data.
Each piece of a pie chart represents a category's a. median value b. relative frequency c. average value d. frequency
b. relative frequency
Statistics is used a. to make decisions in the presence of certainty. b. to make informed decisions based on data. c. to show that we can only rely on results based on quantitative data. d. to make informed decisions, but only in the business world.
b. to make informed decisions based on data. Statistics is useful for making decisions when uncertainty is present. Statistics is used to make decisions based on qualitative data as well. Statistics is used in almost every facet of life, not just business.
Clustered and Stacked Column charts are both advanced versions of "____" charts
bar
All of the following are examples of cross-sectional data EXCEPT: a. The hours worked last week by 50 employees at a factory. b. Last year's starting salary for 100 recent business graduates at Penn State University. c. Last month's unemployment rate for various cities in Ohio. d. Quarterly sales for a computer company for the last five years.
d. Quarterly sales for a computer company for the last five years. (A) One point in time (last week), so this is cross-sectional. (B) One point in time (last year), so this is cross-sectional. (C) One point in time (last month), so this is cross-sectional.
Which of the following are NOT time-series data? a. The average U.S. price of a gallon of unleaded gas for the last 25 months. b. The number of ATM customers recorded for each of lunch hour for a two-week period. c. Quarterly net revenue for Starbucks over the last three years. d. The number of accounting, economics, finance, marketing, and management majors enrolled in school today.
d. The number of accounting, economics, finance, marketing, and management majors enrolled in school today. The others are time-series data, collected from 25 months, 2 weeks and 3 years respectively.
All of the following are examples of continuous variables EXCEPT: a. The weight of a newborn baby b. The height of a 12-year-old boy c. The time it takes a student to complete an exam d. The number of children in a family
d. The number of children in a family
A(n) ______ depicts the frequency or the relative frequency for each category of a qualitative variable as a series of horizontal or vertical bars, the lengths of which are proportional to the values that are to be depicted. a. pie chart b. scatter plot c. ogive d. bar chart
d. bar chart
One method of graphical presentation for qualitative data is a _____. a. histogram b. scatter plot c. stem-and-leaf diagram d. bar chart
d. bar chart
Rather than showing the frequency of each interval, the cumulative frequency distribution shows the number of observations that fall _____ of a particular interval. a. below the lower limit b. above the upper limit c. above the lower limit d. below the upper limit
d. below the upper limit
Data that are collected about many subjects at the same point in time or without regard to differences in time are known as _________ data. a. correlated b. time series c. constant d. cross-sectional
d. cross-sectional Correlated data may or may not be collected at the same point in time. Time series data is collected over time, not at the same point in time. 'Constant' is not a type of data.
In general, we use sample data because a. population data are inadequate. b. sample data has more variability than population data. c. sample data is more precise than population data. d. obtaining data from the population is often an expensive process.
d. obtaining data from the population is often an expensive process.
Which of the following steps is correct to create a clustered column chart from a contingency table? a. Insert>Clustered Column b. Insert>Pivot Chart>2-D Column Chart>Clustered Column c. Insert>Insert Pie Chart d. Insert>Scatter Plot>Clustered Column e. Insert>Insert Column or Bar Chart>2-D Column>Clustered Column
e. Insert>Insert Column or Bar Chart>2-D Column>Clustered Column
Insights from all of these data "______" a company's bottom line and enhance consumer experience.
enhance or improve
From the scenarios below, indicate the one that BEST reflects the nominal scale. a. Designate males as 0 and females as 1 to compare gender performance on an aptitude test. b. Record today's high temperature. c. Rank the service at a restaurant on a scale of 1 to 4. d. Calculate the time it takes a worker to package a product for shipment. e. Note the ages of students in an undergraduate classroom.
a. Designate males as 0 and females as 1 to compare gender performance on an aptitude test. The others are interval scale, ordinal, and ratio respectively.
HW: In each of the following scenarios, define the type of measurement scale. a. A kindergarten teacher marks whether each student is a boy or a girl. b. A ski resort records the daily temperature during the month of January. c. A restaurant surveys its customers about the quality of its waiting staff on a scale of 1 to 3, where 1 is poor and 4 is excellent.
a. Nominal b. Interval c. Ordinal
Which of the following are example(s) of quantitative data? a. Number of concert tickets sold today b. Favorite type of food c. Publisher of a book d. Lifetime of a car e. Miles per gallon
a. Number of concert tickets sold today d. Lifetime of a car e. Miles per gallon Others are a category/label.
What actions occur when using descriptive statistics? a. Organizing b. Presenting c. Collecting d. Analyzing
a. Organizing b. Presenting c. Collecting
HW: In each of the following scenarios, select the type of measurement scale. a. An investor collects data on the weekly closing price of gold throughout a year. b. An analyst assigns a sample of bond issues to one of the following credit ratings, given in descending order of credit quality (increasing probability of default): AAA, AA, BBB, BB, CC, D. c. The dean of the business school at a local university categorizes students by major (i.e., accounting, finance, marketing, etc.) to help in determining class offerings in the future.
a. Ratio b. Ordinal c. Nominal
HW: San Francisco 49ers' line-backer Patrick Willis won the Defensive Rookie of the Year Award in 2007 with a total of 232 tackles. Tackles are measured on what kind of a scale? Is a variable measuring the number of tackles considered continuous or discrete? a. Ratio scale; discrete b. interval scale; continuous c. ratio scale; continuous d. interval scale; discrete
a. Ratio scale; discrete
Which of the following statements is LEAST accurate? a. The height of each rectangle represents cumulative frequency or cumulative relative frequency. b. The rectangles of a histogram represent grouped data. c. The rectangles of a histogram represent both the class width and frequency, or relative frequency, of the respective class. d. The rectangles of a histogram are drawn with no space, or gaps, between them.
a. The height of each rectangle represents cumulative frequency or cumulative relative frequency. In a histogram, the height of each rectangle represents frequency or relative frequency.
Which of the following is an example of cross-sectional data? a. The number of students in each business major at the start of this semester. b. Daily price of DuPont stock during the first quarter c. GDP of the United States from 1990-2010 d. Quarterly housing starts collected over the last 60 years
a. The number of students in each business major at the start of this semester. This is data collected at a single point in time. The rest are time series data.
Histograms and polygons are graphical depictions that display which of the following? Select all that apply. a. The shape of a set of data. b. The individual values of the data set. c. The spread in a set of data. d. The location where the data clusters.
a. The shape of a set of data. c. The spread in a set of data. d. The location where the data clusters.
The main drawback of an interval-scaled variable is what? a. The value of zero is arbitrarily chosen b. It only works well for certain data sets c. It is hard to visualize all values
a. The value of zero is arbitrarily chosen
Select all of the uses for column charts: a. They help visualize more categorical variables b. They allow for the comparison of composition within each category c. We can use them to combine categories into bigger blocks
a. They help visualize more categorical variables b. They allow for the comparison of composition within each category
HW: It came as a big surprise when Apple's touch screen iPhone 4, considered by many to be the best smartphone ever, was found to have a problem (The New York Times, June 24, 2010). Users complained of weak reception, and sometimes even dropped calls, when they cradled the phone in their hands in a particular way. A quick survey at a local store found that 2% of iPhone 4 users experienced this reception problem a. .a. State whether the following statement is true or false. The population is all iPhone 4 users. b. Does 2% denote the population parameter or the sample statistic? a. population parameter b. sample statistic
a. True b. sample statistic
Which of the following kinds of relationships may be revealed once the data points are plotted? a. You can see linear, nonlinear and whether no relationship exists! b. No relationship c. Only linear and nonlinear relationships can be revealed d. Linear relationship e. Non-linear relationship
a. You can see linear, nonlinear and whether no relationship exists!
The catchphrase to describe the massive amounts of structured and unstructured data that is being generated by businesses and organizations is called _______. a. big data b. mucho data c. NoSQL d. Hadoop
a. big data (B) A cooler catchphrase than 'big data,' but not the right answer. (C) NoSQL is a database technology to handle big data. (D) Hadoop is software to analyze big data.
Structured data is characterized by which of the following. Select all that apply. a. its well-defined length and format. b. its ability to conform to the row-column format of a database. c. its variable length and variety of structure.
a. its well-defined length and format. b. its ability to conform to the row-column format of a database. The other is characteristic of unstructured data.
The ordinal scale of data measurement is a. more sophisticated than the nominal scale. b. more sophisticated than the interval scale. c. less sophisticated than the nominal scale. d. more sophisticated than the ratio scale.
a. more sophisticated than the nominal scale. Interval is the second highest level of measurement. Nominal is the lowest level of measurement. Ratio is the highest level of measurement.
A scatterplot is a type of graph that allows researchers to examine the relationship between two variables. It helps to identify a. negative relationships b. qualitative relationships c. linear relationships d. nonlinear relationships
a. negative relationships c. linear relationships d. nonlinear relationships
Qualitative data that can be categorized and ranked are measured on the ______ scale. a. ordinal b. ratio c. interval d. nominal
a. ordinal Ratio and interval are quantitative. Nominal data cannot be ranked.
One method of graphical presentation for qualitative data is a(n) a. pie chart b. histogram c. ogive d. frequency polygon
a. pie chart
HW: Which of the following variables are qualitative and which are quantitative? If the variable is quantitative, then specify whether the variable is discrete or continuous. a. Colors of cars in a mall parking lot. b. Time it takes each student to complete a final exam. c. The number of patrons who frequent a restaurant.
a. qualitative b. quantitative; continuous c. quantitative; discrete
Which of the following variables are qualitative and which are quantitative? If the variable is quantitative, then specify whether the variable is discrete or continuous. a. points scored in a football game b. racial composition of a high school classroom c. heights of 15-year-olds.
a. quantitative; discrete b. qualitative c. quantitative; continuous
A research analyst collects data on the weekly closing price of gold throughout the year. The scale for these data is _____. a. ratio b. ordinal c. interval d. nominal
a. ratio Price is a quantitative variable and has a meaningful zero.
A ______ is a subset of a population. a. sample b. statistic c. parameter d. population minor
a. sample A statistics is a measure of a sample. A parameter is a measure of a population. A sample is a subset of a population.
An accounting professor wants to know the average GPA of the students enrolled in her class. She looks up information on Blackboard about the students enrolled in her class and computes the average GPA as 3.29. a. State whether the following statement is true or false. The population is all students enrolled in the accounting class. b. Does the value 3.29 represent the population parameter or the sample statistic?
a. true b. population parameter
A pie chart is a segmented circle whose segments add up to _____ degrees. a. 250 b. 360 c. 500 d. 100
b. 360
Which of the following statements is MOST accurate with respect to a bar chart? a. A bar chart depicts a cumulative frequency distribution. b. A bar chart is a useful graphical tool for qualitative data. c. Ogives and bar charts are essentially the same graph.
b. A bar chart is a useful graphical tool for qualitative data.
If the option "Data Analysis" does not show up under the Data Menu, how do you find it? a. Look under a different menu item b. Add in the Analysis Toolpak option c. Ensure you have the most recent update
b. Add in the Analysis Toolpak option
How much of a sample or population is covered by the total number of intervals? a. Only part, depending on the situation b. All c. None
b. All
The COUNTA function applies to which of the following variables? a. Industry b. All of the listed variables apply in the usage of the COUNTA function c. Wage d. Only A and B e. EmployeeID f. Job
b. All of the listed variables apply in the usage of the COUNTA function
Select all of the following that are examples of continuous variables. a. Number of family members b. Height c. Weight d. Investment Return e. Time
b. Height c. Weight d. Investment Return e. Time
What graphical tool is best used to display the relative frequency of grouped, quantitative data? a. Bar chart b. Histogram c. Pie chart d. Ogive
b. Histogram
Which of the following BEST describes a frequency distribution for qualitative data? a. It groups data into intervals called classes, and records the proportion (fraction) of observations in each class. b. It groups data into categories, and records the number of observations in each category. c. It groups data into intervals called classes, and records the number of observations in each class. d. It groups data into histograms, and records the proportion (fraction) of observations in each histogram.
b. It groups data into categories, and records the number of observations in each category. The rest are quantitative data.
A continuous variable is characterized by _______ values within an interval.
uncountable
Businesses must verify the reliability and "_______" of the big data before making decisions.
veracity
Match the following Excel Functions to their corresponding uses.
COUNT -> Counts the number of cells that contain numeric observations COUNTA -> Counts the number of cells that are not empty
Match the measurement scales to the types of variables they are used for.
Categorical -> Nominal, Ordinal Numerical -> Interval, Ratio
______ statistics refers to the summary of important aspects of a data set.
Descriptive
If the "Bin Range" box is left empty, Excel creates evenly distributed intervals using the minimum and maximum values of the variables as end points. This approach is often more than satisfactory. True or false?
False
The cumulative frequency distribution is another name for a frequency distribution. True or false?
False No - the cumulative frequency distribution shows the number of observations that fall below the upper level of a certain level.
To create a Pivot Table in Excel you MUST select all the data before selecting Insert>Pivot Table from the menu. True or false?
False You can put your cursor anywhere in the data.
Click and drag on elements in order We want to select only our college-educated millennial customers. The data is collected and column D contains birth date, while column E contains whether students attended college. Arrange the following prompts in the order in which they would be completed.
Open the customer's file Filter the data set Click on the drop-down box in E1 Click on the drop-down box in D1
In the following table what is the most frequent satisfaction rating? 1 2 3 4 12 18 36 92 a. 4 b. 1 c. 2 d. 3
a. 4
About how many total intervals are generally in a frequency distribution? a. 5-20 b. 5-10 c. 1-5 d. 10-20 e. 5-15
a. 5-20
Which of the following are true regarding big data? Select all that apply. a. Big data does not imply population data. b. Big data refers to a large volume of structured data only. c. Big data can be computationally burdensome.
a. Big data does not imply population data. c. Big data can be computationally burdensome. Big data refers to both structure and unstructured data.
A line chart is especially useful for tracking changes or trends over time. True or false?
True
The observations for any variable can be classified into one of four major measurement scales True or false?
True
There are two common strategies for dealing with missing values: omission and imputation. True or false?
True
Match the terms to their definitions Instructions.
Veracity -> Businesses must verify the reliability and veracity of the big data before making decisions Value -> Businesses must develop a methodical plan for formulating questions in order to unlock the hidden potential in big data
Match the terms to their definitions.
Volume -> An immense amount of data is compiled from a single source or a wide range of sources Velocity -> Data from a variety of sources get generated at a rapid speed Variety -> Data also come in all types, forms, and granularity, both structured and unstructured
The 3 V's of big data are: "_____", "_____", "_____"
Volume, Velocity, Variety
Which of these tasks are among the first that data analysts perform to gain a better understanding of data? a. Counting b. Processing c. Sorting d. Visual Review
a. Counting c. Sorting d. Visual Review
HW: Research suggests that depression significantly increases the risk of developing dementia later in life (BBC News, July 6, 2010). In a study involving 949 elderly persons, it was reported that 22% of those who had depression went on to develop dementia, compared to only 17% of those who did not have depression. a. Choose the relevant populaiton and the sample. - The population is all elderly people. - The sample consists of 949 younger people.unanswered - The sample consists of 949 elderly people. - The population is all younger people. b. Do the numbers 22% and 17% represent population parameters or sample statistics? a. population statistics b. sample statistics
a. - The population is all elderly people. - The sample consists of 949 elderly people. b. b. sample statistics
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. A manufacturer of automobile tires wants to determine how long the tread of its tires will last. b. An owner of a chain of restaurants wants to determine whether customers prefer seafood or meat entrees. c. A teacher who has 30 students in her class wants to determine the average of the most recent test scores.
c. A teacher who has 30 students in her class wants to determine the average of the most recent test scores. If the manufacturer tested all the tires, there would be no tires left to sell! Keeping track of EVERY patron's choice is likely be too time-consuming!
There are several guidelines to follow when constructing graphs that summarize statistical data. Which of the following statements is LEAST accurate? a. The simplest graph that effectively communicates the data should be used. b. Axes that are numerical should be to the appropriate scale. c. Graphs should have a lot of extra decorations added to them d. Axes should be clearly labeled.
c. Graphs should have a lot of extra decorations added to them
When using an imputation strategy, when is it common to to replace missing values with the average values of relevant variables? a. Neither kind of variable b. Categorical Variables c. Numerical Variables d. Both kinds of variable
c. Numerical Variables
Which of the following is an example for which subsetting would NOT be used? a. Missing values b. Outliers c. Repetitive values d. Low-quality data
c. Repetitive values
Which of the following is an example of variable? a. The number of months in a year b. The number of letters in the alphabet c. The number of pizzas ordered from Pizza Hut per day d. The number of degrees in a circle
c. The number of pizzas ordered from Pizza Hut per day
When constructing a graph, which of the following statements is MOST accurate? a. It is common to give the vertical axis a very high value as an upper limit. b. Wider bars should be used for categories with higher frequencies. c. The simplest graph should be used for a given set of data.
c. The simplest graph should be used for a given set of data.
Which of the following are example(s) of quantitative data? Select all that apply. a. major of a student b. Cable TV service provider c. The temperature of tea d. Brand of cat food e. Wait time at the dentist
c. The temperature of tea e. Wait time at the dentist
Consider the following variable: a runner's time in a 100-meter race. This variable is best categorized as a _____ variable. a. qualitative b. discrete c. continuous d. nominal
c. continuous
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. a. summary b. descriptive c. inferential d. nominal
c. inferential Summary statistics are values that describe a data set. Descriptive statistics includes techniques to summarize a data set. Nominal is a level of measurement, not a type of statistics.
The ratio scale is a. less sophisticated than the interval scale. b. less sophisticated than the ordinal scale. c. more sophisticated than the nominal scale.
c. more sophisticated than the nominal scale. Interval doesn't have a meaningful zero like ratio does. Ratio is the highest level of measurement.
HW: A recent survey of 300 small firms (annual revenue less than $8 million) asked whether an increase in the minimum wage would cause the firm to decrease capital spending. Possible responses to the survey question were: "Yes," "No," or "Don't Know." This data is best classified as a. interval scale b. ratio scale c. nominal scale d. ordinal scale
c. nominal scale
Histograms can be used for all of the following EXCEPT to a. observe the spread or the variability of the data. b. determine the shape of the data. c. observe individual data points. d. observe where the data tends to cluster.
c. observe individual data points. The actual data points are not observed in a histogram.
In general, we use sample data because a. sample data has more variability than population data. b. population data are inadequate. c. obtaining data from the population is often an expensive process. d. sample data is more precise than population data.
c. obtaining data from the population is often an expensive process. (A) Having more variability would not be an advantage. (B) Population data represent perfect information but are usually unrealistic to obtain. (D) Population data is more precise because it includes ALL items.
Unstructured data would most likely be found in a. in spreadsheets b. a database c. on social media
c. on social media
A ______ includes all items of interest in a statistical problem. a. parameter b. subset c. population d. sample
c. population A parameter is a measure that is calculated from a population. A subset is a piece, not all of the items. population A sample is a subset of a population.
A characteristic of interest that differs among various observations is referred to as a ______. a. parameter b. constant c. variable
c. variable A parameter is a measure that describes a population and it is fixed if the population doesn't change. A constant is a value that doesn't change.
In order to inspect and explore data, we must first "____ and ____" the observations
count; sort
Which of the following graphical depictions is useful for observing the spread of the data for a single variable? a. Scatterplot b. Sharpe chart c. Ogive d. Histogram
d. Histogram
What is the first step towards finding the solution? a. Filter the data set b. Select the data range A1:J201 c. From the menu choose Home > Sort & Filter > Filter d. Open the Customers data file
d. Open the Customers data file
To create a Pivot Table in Excel we select "____" then >Pivot Table.
insert
With observations that are measured on the "_____" scale, we are able to "______" and rank them as well as find meaningful differences between them.
interval; categorize
Sorting allows us to verify that a data set is complete, and also allows us to review the "_____" of values for each variable.
range
"A commonly used technique where only a portion of the data is used for the statistical analysis is called ______."
subsetting
The process of extracting portions of a data set that are relevant to the analysis is called "________.:
subsetting
