Statistics - Ch. 1 Concepts

Concept 5 - Levels of Measurement (p. 8) Which of the following are properties of ratio-level data? Choose all that apply. 1. It is a qualitative measure with no natural ordering. 2. It is the lowest level of measurement. 3. The zero point of the data is meaningful. 4. The ratio between two measures is meaningful.

3. The zero point of the data is meaningful. 4. The ratio between two measures is meaningful.

Concept 3 - Types of Variables (p. 7) Identify all of the following items which are qualitative variables. Choose all that apply. 1. A person's favorite food type. 2. The number of cookies in a package of Oreo's. 3. The colors in a package of M&M's. 4. The species of trees in a park.

1. A person's favorite food type. 3. The colors in a package of M&M's. 4. The species of trees in a park.

Concept 2 - Types of Statistics (p. 5-6) Which of the following are examples of inferential statistics? Choose all that apply. 1. Estimating the average weight in a box of apples by measuring the weight of five apples. 2. Counting the blue candies in a package of M&M's as a way to estimate the proportion of blue candies in all packages. 3. Making a bar chart from a set of data. 4. Placing the prices of houses for sale in April in Boston in rank order.

1. Estimating the average weight in a box of apples by measuring the weight of five apples. 2. Counting the blue candies in a package of M&M's as a way to estimate the proportion of blue candies in all packages.

Concept 1 - Why Study Statistics? (p. 3-4) Which of the following represent statistical information? Choose all that apply. 1. Lucky's Market sells a maximum of 240 kilograms of apples per month. 2. The median income in Wasau County is $40,578 per year. 3. On average, there are 12.5 chocolate chips in a Chips Hello cookie. 4. Salt water is clearer than muddy water.

1. Lucky's Market sells a maximum of 240 kilograms of apples per month. 2. The median income in Wasau County is $40,578 per year. 3. On average, there are 12.5 chocolate chips in a Chips Hello cookie.

Concept 2 - Types of Statistics (p. 5-6) What are descriptive statistics? Choose one. 1. Methods of organizing, summarizing, and presenting data in an informative way. 2. Methods used to estimate a population parameter based on a sample. 3. Methods used to build a forecasting model to predict sales.

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

Concept 5 - Levels of Measurement (p. 8) Which of the following are the four levels of measurement possible for data? Choose all that apply. 1. Ordinal-level 2. Quantitative level 3. Discontinuous level 4. Interval level 5. Ration-level 6. Nominal-level

1. Ordinal-level 4. Interval level 5. Ration-level 6. Nominal-level

Concept 5 - Levels of Measurement (p. 8) Which one of the following are properties of ordinal-level data? Choose one. 1. The data can be ranked or counted. 2. Data classifications are sets of names or labels. 3. The zero point of the data is meaningful. 4. It can only be classified and counted.

1. The data can be ranked or counted.

Concept 5 - Levels of Measurement (p. 8) Which of the following best describes interval-level data? Choose one. 1. The distance between values is a known unit of measure. 2. The observations can only be counted. 3. The measures can be ranked in order. 4. The ratio between two measures is meaningful.

1. The distance between values is a known unit of measure.

Concept 4 - What is Meant by Statistics? (p. 4) Which of the following examples are statistics? Choose all that apply. 1. The number of home runs in last year's World Series. 2. Yesterday's share price for Proctor and Gamble stocks. 3. The typical genre of music played on KCFR. 4. The median price of a house in Detroit.

1. The number of home runs in last year's World Series. 2. Yesterday's share price for Proctor and Gamble stocks. 4. The median price of a house in Detroit.

Concept 3 - Types of Variables (p. 7) Identify all of the following items which are quantitate variables. Choose all that apply. 1. The color of a person's eyes. 2. The major of a college graduate. 3. The miles per gallon for a particular model of car. 4. The weight of a Siamese cat.

3. The miles per gallon for a particular model of car. 4. The weight of a Siamese cat.

Concept 5 - Levels of Measurement (p. 8) Which of the following variables is recorded at the interval level of measurement? Choose one. 1. Number of books on a table. 2. A man's shoe size. 3. Number of patients visiting the ER today. 4. The publisher of a textbook.

2. A man's shoe size.

Concept 5 - Levels of Measurement (p. 8) Which of the following represents data recorded at the nominal level? Choose one. 1. Today's high temperature, for example 83 degrees Fahrenheit. 2. Brand of newly purchased TV. 3. The time a patient waits for the doctor. 4. "Above average" rating given by customer at restaurant.

2. Brand of newly purchased TV.

Concept 2 - Types of Statistics (p. 5-6) Which of the following are examples of descriptive statistics? Choose all that apply. 1. Checking the price a camera at four stores to estimate its average sale price. 2. Creating a pier chart to show majors of students in your business statistics class. 3. Sampling voters to see who is going to win an election. 4. Calculating summary measures of the prices of houses sold in Las Vegas in January.

2. Creating a pier chart to show majors of students in your business statistics class. 4. Calculating summary measures of the prices of houses sold in Las Vegas in January.

Concept 1 - Why Study Statistics? (p. 3) Which of the following are examples of how organizations use statistics? Choose all that apply. 1. A consumer uses the nutrition information on a package of snack chips to make a purchase decision. 2. Retailers use product purchase data to manage the distribution of products and make marketing and sales decisions. 3. Google uses search engine data records to prioritize results for future searches.

2. Retailers use product purchase data to manage the distribution of products and make marketing and sales decisions. 3. Google uses search engine data records to prioritize results for future searches.

Concept 1 - Why Study Statistics? (p. 3-4) Which of the following are reasons to study statistics? Choose all that apply. 1. Complex statistics will impress those who are less knowledgeable. 2. Statistical knowledge is needed to understand the world and be conversant in your career. 3. Data is collected everywhere, and statistics is needed to translate that data into useful information. 4. Statistics are used to make personal and professional decisions.

2. Statistical knowledge is needed to understand the world and be conversant in your career. 3. Data is collected everywhere, and statistics is needed to translate that date into useful information. 4. Statistics are used to make personal and professional decisions.

Concept 2 - Types of Statistics (p. 5-6) The two categories of statistical study are: Choose one. 1. developmental statistics and inferential statistics 2. descriptive statistics and inferential statistics 3. descriptive statistics and informative statistics 4. basic statistics and advanced statistics

2. descriptive statistics and inferential statistics

Concept 6 - Ethics and Statistics (p. 12) Which of the following are not proper and ethical activities for a statistician in working with data? Choose all that apply. 1. Provide information that truly reflects a company's performance so as not to mislead individual investors. 2. Practice statistics with integrity and honesty when collecting, organizing, summarizing, analyzing, and interpreting data. 3. Maintain a dependent point-of-view when analyzing and reporting findings and results. 4. Remove the information regarding product defects that may be harmful to people.

3. Maintain a dependent point-of-view when analyzing and reporting findings and results. 4. Remove the information regarding product defects that may be harmful to people.

Concept 2 - Types of Statistics (p. 5-6) What is inferential statistics? Choose one. 1. Methods of calculating summary statistics from a set of data. 2. Methods of organizing and presenting data. 3. Methods of estimating a property of a population based on a sample.

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

Concept 5 - Levels of Measurement (p. 8) The nominal level of data describes what type of information? Choose one. 1. Data that can be ranked in order. 2. Data that can be measured using a continuous variable. 3. Observations of a qualitative variable that can only be classified and counted. 4. Observations of a qualitative variable where differences between measures are constant in size.

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

Concept 5 - Levels of Measurement (p. 8) Which of the following is classified as ordinal-level data? Choose one. 1. The weight of a package to be mailed. 2. Someone's favorite sport (soccer, swimming, ...). 3. Someone's ranking of their three favorite foods. 4. The most popular selling dress size.

3. Someone's ranking of their three favorite foods.

Concept 6 - Ethics and Statistics (p. 12) Which of the following best describes the role of a statistician in working with data? Choose one. 1. The statistician should mine the data for information to support his conclusions. 2. The statistician should choose appropriate measures to confirm what he wants to convey. 3. The statistician should strive to present his analysis with clarity, honesty, and integrity. 4. The statistician should discard data which is obviously wrong.

3. The statistician should strive to present his analysis with clarity, honesty, and integrity.

Concept 7 - Basic Business Analytics (p. 13) Which best describes the purpose of business analytics? Choose one. 1. Profitability analysis 2. Provide justification for a change in marketing strategy 3. Vast amounts of data are collected, and understanding it requires statistical knowledge. 4. Business analytics is used to process and analyze data and information to support a story or narrative of a company's business.

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

Concept 5 - Levels of Measurement (p. 8) Which level of data gives the most information about the observation? Choose one. 1. Interval 2. Nominal 3. Ordinal 4. Ratio

4. Ratio

Concept 5 - Levels of Measurement (p. 8) Which of the following variables is recorded at the ratio level of measurement? Choose one. 1. The Fahrenheit temperature on the first day of spring. 2. The most popular color of car. 3. A ranking of a student's favorite teachers. 4. Salaries of business school graduates.

4. Salaries of business school graduates.

Concept 2 - Types of Statistics (p. 5-6) 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

Concept 7 - Basic Business Analytics (p. 13) Statistics knowledge is necessary to successfully use business analytics. True or False

True