Econ 2300 Kennesaw State Chap 1 & 2
In constructing a frequency distribution (histogram), the approximate class width is computed as
(largest data value - smallest data value)/number of classes
In a cumulative percent frequency distribution, the last class will have a cumulative percent frequency equal to
100
The sum of the percent frequencies for all classes will always equal
100
In a random sample of 200 items, 5 items were defective. An estimate of the percentage of defective items in the population is
2.5%
Quantitative data can be measured in
All of the above
A variable is a _____ of an element.
Characteristic
Looking at the grades in a Business Stats class of thirty students is best described as
Cross-sectional analysis
A runs plots falls under the category of
Descriptive statistics
Which of the following is a ratio scale variable?
Height in centimeters
Which of the following is an interval variable?
Height in centimeters
A poll conducted among 100 randomly selected individuals used to predict a national election falls under the category of
Inferential statistics
Which of the following is closest to a qualitative variable?
Mood in smileys
Which of the following is NOT included in a dataset?
Pergaments
Which of the following is a nominal variable?
Race
A time series plot is essentially a:
Scatterplot
Looking at the transcript of one student over the semesters is best described as a
Time-series analysis
Business statistics is NOT concerned with _____ data?
Tweaking
Which of the following is an ordinal variable?
Year in college (Freshman, Sophomore, Junior, Senior)
Social security numbers consist of numeric values. Therefore, social security is an example of
a categorical variable
If a variable has possible values -2, 6, and 17, then this variable is
a discrete variable
One hundred students from a large university were asked about their opinion on the new health care program. The 100 represents
a sample
A graphical presentation of the relationship between two variables is
a scatter plot
A frequency distribution is
a tabular summary of a set of data showing the frequency of items in each of several nonoverlapping classes
A population includes:
all objects of interest in a particular study
Quantitative data
are always numeric
Fifteen percent of the students in a school of Business Administration are majoring in Economics, 20% in Finance, 35% in Management, and 30% in Accounting. The graphical device(s) which can be used to present these data is (are)
both a bar graph and a pie chart
Data obtained from a nominal scale
can be either numeric or nonnumeric
In a questionnaire, respondents are asked to mark their gender as male or female. Gender is an example of a
categorical variable
A tabular method that can be used to summarize the data on two variables simultaneously is called
crosstabulation
The relative frequency of a class is computed by
dividing the frequency of the class by the sample size
Quantitative data refers to data obtained with a(n)
either interval or ratio scale
If several histograms are constructed from the same data set, the distribution with the widest class width will have the _____ classes.
fewest
The most common graphical presentation of quantitative data is a
histogram
In constructing a frequency distribution (histogram), as the number of classes are decreased, the class width
increases
The sample size
is always smaller than the population size
A histogram is said to be skewed to the left if it has a
longer tail to the left
Categorical data
may be either numeric or nonnumeric
Employee Number is an example of data.
nominal
A frequency distribution is a tabular summary of data showing the
number of items in several classes
Statistical studies in which researchers do not control variables of interest are
observational studies
In a cumulative relative frequency distribution, the last class will have a cumulative relative frequency equal to
one
The sum of the relative frequencies for all classes will always equal
one
Some hotels ask their guests to rate the hotel's services as excellent, very good, good, and poor. This is an example of the
ordinal scale
Qualitative data can be graphically represented by using a(n)
pie chart
Which of the following is not a scale of measurement?
primal
A researcher is gathering data from four geographical areas designated: South = 1; North = 2; East = 3; West = 4. The designated geographical regions represent
qualitative data
A tabular summary of a set of data showing the fraction of the total number of items in several classes is a
relative frequency distribution
When a histogram has a longer tail to the right, it is said to be
skewed to the right
Temperature is an example of a variable that uses
the interval scale
The sum of frequencies for all classes will always equal
the number of elements in a data set
A cumulative relative frequency distribution shows
the proportion of data items with values less than or equal to the upper limit of each class
In a cumulative frequency distribution, the last class will always have a cumulative frequency equal to
the total number of elements in the data set
. A variable is classified as ordinal if:
there is a natural ordering of categories
Data collected over several time periods are
time series data
In a scatter diagram, a line that provides an approximation of the relationship between the variables is known as
trend line
A characteristic of interest for the elements is called a(n)
variable
