QMB2100 - Chapter 1
Which of the following are examples of how organizations use statistics?
- Retailers use product purchase data to manage the distribution of products and make marketing and sales decisions. - Google uses search engine data records to prioritize results for future searches.
Which of the following best describes the role of a statistician in working with data?
The statistician should strive to present his analysis with clarity, honesty, and integrity.
True or false: The primary purpose of statistics is to present numerical data.
False
The two categories of statistical study are:
descriptive statistics and inferential statistics
What is descriptive statistics?
Methods of organizing, summarizing, and presenting data in an informative way.
What level of data is represented by the fire risk (Low, Moderate, High or Severe) today in Arapahoe National Forest? Multiple choice question.
Ordinal
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.
False
Which of the following are example of inferential statistics? Select all that apply.
- Estimating the average weight in a box of apples by measuring the weight of five apples. - Counting the blue candies in a package of M&M's as a way to estimate the proportion of blue candies in all packages.
Which of the following are properties of ratio-level data? Choose all that apply.
- The zero point of the data is meaningful. - It has all the properties of interval-level data. - The ratio between two measures is meaningful.
How has technology increased the need for statistical analysis?
Vast amounts of data are collected, and understanding it requires statistical knowledge.
What is inferential statistics?
Methods of estimating a property of a population based on a sample.
Identify all of the following items which are quantitative variables.
- The weight of a Siamese cat. - The miles per gallon for a particular model of car.
Which of the following variables is recorded at the ratio level of measurement?
Salaries of business school graduates.
Which one of the following are properties of ordinal-level data?
The data can be ranked or counted.
Which of the following best describes interval-level data?
The distance between values is a known unit of measure.
Which of the following is the best definition of a statistical population?
The entire set of individuals, objects or measurements of interest.
How does statistics help us understand large amounts of numerical information?
A good working knowledge of statistics is useful to organize and summarize information.
Which of the following is not part of the science of statistics?
Choosing data that supports your conclusion
What are the two types of quantitative variables?
Discrete and Continuous.
Which of the following are discrete variables? Choose all that apply.
- The number of cars for sale on a used car lot. - The number of customers using an ATM on a given day.
Which of the following are attributes of a discrete quantitative variable? Choose all that apply.
- It can assume only certain values within a range. - It can be used to count items. - There are gaps between the values of this variable.
Which of the following represents data recorded at the nominal level?
Brand of newly purchased TV
Identify which one of the following is a continuous quantitative variable.
The average weight of apples in a box at the market.
Which one of the following is a population in the statistical sense? Multiple choice question.
All of the automobiles sold in Canada in 2016.
Which three of the following are samples in the statistical sense?
- Ten apples selected from a grocery store bin containing 100 apples. - Six randomly chosen books from the library. - Every eighth person on the class roster.
Which of the following are reasons to study statistics? Select all that apply.
- Statistical knowledge is needed to understand the world and be conversant in your career. - Data is collected everywhere, and statistics is needed to translate that data into useful information. - Statistics are used to make personal and professional decisions
Which of the following represent statistical information? Select all that apply.
- The median income in Wasau County is $40,578 per year. - On average there are 12.5 chocolate chips in a Chips Hello cookie. - Lucky's Market sells a maximum of 240 kilograms of apples per month.
Which of the following examples are statistics? Select all that apply.
- The number of home runs in last year's World Series. - Yesterday's share price for Proctor and Gamble stocks. - The median price of a house in Detroit.
Which level of data gives the most information about the observation?
Ratio
Which of the following are examples of descriptive statistics? Select all that apply
- Calculating summary measures of the prices of houses sold in Las Vegas in January. - Creating a pie chart to show majors of students in your business statistics class.
Identify all of the following items which are qualitative variables.
- A person's favorite food type. - The colors in a package of M&M's. - The species of trees in a park.
Which of the following is the best definition of a statistical sample?
A portion, or part of the population of interest.
Which best describes the purpose of business analytics?
Business analytics is used to process and analyze data and information to support a story or narrative of a company's business
Which three of the following are not proper and ethical activities for a statistician in working with data?
- Remove outliers that bias the data too far in one direction. - Report only those statistics that support his conclusions. - Use samples that represent only a desired part of a population.
Which of the following are attributes of a continuous quantitative variable? Choose all that apply.
- It is typically the result of measuring something. - It can take on any value within a range of values. - There are no required gaps between values.
Which of the following variables is recorded at the interval level of measurement?
A man's shoe size.
Which of the following are the four levels of measurement possible for data?
Interval level Ordinal-level Nominal-level Ratio-level