BUS 271 Chapter 1 Test

When a statistician omits data contrary to her findings in a study, she is justified as long as the sample supports her objective.

False

A statistical test may be significant yet have no practical importance.

True

The post hoc fallacy says that when B follows A then B is caused by A.

True

"Bob must be rich. He's a lawyer, and lawyers make lots of money." This statement best illustrates which fallacy? A) Generalizing from an average to an individual B) Unconscious bias C) Confusing significance with importance D) Using poor survey methods

A

"Smoking is not harmful. My Aunt Harriet smoked, but lived to age 90." This best illustrates which fallacy? A) Small sample generalization B) Significance versus practical importance C) Unconscious bias D) Post hoc reasoning

A

Surveying electric vehicle owners would provide a representative random sample of Americans' views on global warming policies.

False

Because 25 percent of the students in my morning statistics class watch eight or more hours of television a week, I conclude that 25 percent of all students at the university watch eight or more hours of television a week. The most important logical weakness of this conclusion would be: A) using a sample that may not be representative of all students. B) failing to correct for unconscious interviewer bias. C) assuming cause and effect where none exists. D) relying on any sample instead of surveying every student.

A

Which is not a goal of the ethical data analyst? A) To learn to downplay inconvenient data B) To be an honest broker of data C) To understand the firm's code of ethics (or help create one) D) To look for hidden agendas in data collection

A

Which is not a likely task of descriptive statistics? A) estimating unknown parameters B) Making visual displays of data C) Describing data numerically D) Summarizing a sample

A

Which is not true? A) Estimating parameters is an important aspect of descriptive statistics B) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. C) Statistical challenges include imperfect data and practical constraints D) Statistics helps refine theories through ongoing hypothesis testing.

A

Which of the following statements is not true? A) For day to day business data analysis, most firms rely on a large staff of expert statisticians B) A statistic is a single measure (usually numerical) that is calculated from a sample C) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data D) A statistical test may be significant yet have no practical importance

A

We would associate the term "inferential statistics" with which task? A) Describing a sample of data B) Estimating unknown parameters C) Making visual displays of data D) Tabulating a survey

B

Which is not an essential characteristic of a good business data analyst? A) stays current on techniques B) Has a Ph. D. or master's degree in statistics C) Can deal with imperfect information D) Effective writer

B

"Bob didn't wear his lucky T-shirt to class, so he failed his chemistry exam." This best illustrates which fallacy? A) Small sample generalization B) Poor survey methods C) Post hoc reasoning D) More than one of the above

C

A strong correlation between A and B would imply that B is caused by A.

False

Which of the following is not a characteristic of an ideal statistician? A) Can deal with imperfect information B) Technically current C) Advocates client's objectives D) Communicates well

C

"Tom's SUV rolled over. SUVs are dangerous." This best illustrates which fallacy? A) Post hoc reasoning B) Significance versus practical importance C) Unconscious bias D) Small sample generalization

D

Which is not an ethical obligation of a statistician? A) To ensure data integrity and accurate calculations B) To know and follow accepted procedures C) To acknowledge sources of financial support D) To support client wishes in drawing conclusions from the data

D

Which of the following is correct? A) A parameter is a measure that is calculated from a sample B) A statistical test result that is significant also has practical importance C) For day to day business data analysis, most firms rely on a large staff of expert statisticians D) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data

D

Estimating parameters and testing hypothesis are important aspects of descriptive statistics.

False

A business data analyst needs a PhD in statistics.

False

Inferential statistics refers to generalizing from a sample to a population, estimating unknown parameters, drawing conclusions, and making decisions

true

Excel has limited use in business because advanced statistical software is widely available

False

Business intelligence refers to collecting, storing, accessing, and analyzing data on the company's operations in order to make better business decisions.

True

Descriptive statistics refers to summarizing data rather than generalizing about the population

True

Empirical data are collected through observations and/or experiments.

True

Predicting a presidential candidate's percentage of the statewide vote from a sample of 800 voters would be an example of inferential statistics.

True

Statistical challenges include imperfect data, practical constraints, and ethical dilemmas.

True

Statistics can help you handle either too little or too much information.

True

Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.

True