Statistics for Business and Economics 8th Edition Newbold
Test Bank
Statistics for Business and Economics, 8e (Newbold)
Chapter 1 Describing Data: Graphical
1) Which of the following variables is an example of a categorical variable?
A) The amount of money you spend on eating out each month.
B) The time it takes you to write a test.
C) The geographic region of the country in which you live.
D) The weight of a cereal box.
Answer: C
Difficulty: Easy
Topic: Classification of Variables
AACSB: Reflective Thinking Skills
Course LO: Explain how data are acquired and distinguish among different types of data and levels of
measurement
2) Which of the following is an example of a discrete random variable?
A) The monthly electric bill for a local business.
B) The number of people eating at a local caf\u00e9 between noon and 2:00 p.m.
C) The amount of time it takes for a worker to complete a complex task.
D) The percentage of people living below the poverty level in Boston.
Answer: B
Difficulty: Easy
Topic: Classification of Variables
AACSB: Reflective Thinking Skills
Course LO: Explain how data are acquired and distinguish among different types of data and levels of
measurement
3) What is the correct ranking of data from weakest or lowest level to strongest or highest level?
A) nominal, ordinal, interval and ratio
B) ordinal, nominal, interval and ratio
C) interval, nominal, ratio and ordinal
D) nominal, interval, ordinal, and ratio
Answer: A
Difficulty: Moderate
Topic: Classification of Variables
AACSB: Reflective Thinking Skills
Course LO: Explain how data are acquired and distinguish among different types of data and levels of
measurement<\/p>\n\n\n\n
4) Dr. Thomas graduated from West Virginia University with a code value = 1 while Professor Harrison
graduated from the Marshall University with a code value = 2. The scale of measurement likely
represented by this information is:
A) nominal.
B) ordinal.
C) interval.
D) ratio.
Answer: A
Difficulty: Moderate
Topic: Classification of Variables
AACSB: Analytic Skills
Course LO: Explain how data are acquired and distinguish among different types of data and levels of
measurement
5) A measurement scale that rates product quality as either 1 = poor, 2 = average and 3 = good is known
as:
A) nominal.
B) ordinal.
C) interval.
D) ratio.
Answer: B
Difficulty: Moderate
Topic: Classification of Variables
AACSB: Analytic Skills
Course LO: Explain how data are acquired and distinguish among different types of data and levels of
measurement
6) Which of the following statements involve descriptive statistics as opposed to inferential statistics?
A) The Alcohol, Tobacco and Firearms Department reported that Seattle had 1,825 registered gun dealers
in 2013.
B) Based on a survey of 380 magazine readers, the magazine reports that 30% of its readers prefer double
column articles.
C) The FAA samples 425 traffic controllers in order to estimate the percent retiring due to job stress
related illness.
D) Based on a sample of 350 professional baseball players, a baseball magazine reported that 23% of the
parents of all professional baseball players did not play baseball.
Answer: A
Difficulty: Easy
Topic: Decision Making in an Uncertain Environment
AACSB: Analytic Skills
Course LO: Explain how data are acquired and distinguish among different types of data and levels of
measurement<\/p>\n\n\n\n
7) The width of each bar in a histogram corresponds to the:
A) midpoint of the class.
B) number of observations in the class.
C) boundaries of the class.
D) percentage of observations in the class.
Answer: C
Difficulty: Easy
Topic: Graphs to Describe Numerical Variables
AACSB: Reflective Thinking Skills
Course LO: Explain how data are acquired and distinguish among different types of data and levels of
measurement
8) Which of the following statements is incorrect?
A) Ordinal data may be described as qualitative.
B) Nominal data may be described as quantitative.
C) A categorical variable may produce ordinal data.
D) A discrete numerical variable may produce ratio scale data.
Answer: B
Difficulty: Moderate
Topic: Classification of Variables
AACSB: Analytic Skills
Course LO: Explain how data are acquired and distinguish among different types of data and levels of
measurement
9) The length of time it takes to assemble a particular electronic component varies from one employee to
another. Management has collected the time (in minutes) it took 20 different employees to assemble the
component. The information is summarized in the following frequency distribution generated by Excel:
Bin Frequency Cumulative %
10 1 5.00%
15 9 50.00%
20 1 55.00%
25 7 90.00%
More 2 100.00%
Which of the following statements is true?
A) 50% of all the workers took exactly 15 minutes to assemble the component.
B) 100% of all the workers took longer than 25 minutes to assemble the component.
C) Eleven workers assembled the component in 20 minutes or less.
D) Seven workers took 25 minutes or longer to assemble the component.
Answer: C
Difficulty: Moderate
Topic: Graphs to Describe Numerical Variables
AACSB: Analytic Skills
Course LO: Use a modern software tool to perform statistical calculations<\/p>\n\n\n\n
10) Consider the following frequency distributions generated by Excel. What is the missing cumulative %
value identified by the asterisk?
Bin Frequency Cumulative %
12.8 1 5.00%
41.6 5 30.00%
70.4 6 60.00%
99.2 6 *
More 2 100.00%
A) 60.00%
B) 5.00%
C) 100%
D) 90%
Answer: D
Difficulty: Moderate
Topic: Graphs to Describe Numerical Variables
AACSB: Analytic Skills
Course LO: Use a modern software tool to perform statistical calculations
11) Consider the following frequency distribution generated by Excel. What is the missing frequency
value identified by the asterisk?
Bin Frequency Cumulative %
584 1 4.00%
1774.4 * 64.00%
2964.8 4 80.00%
4155.2 3 92.00%
5345.6 1 96.00%
More 1 100.00%
A) 3
B) 15
C) 16
D) 25
Answer: B
Difficulty: Moderate
Topic: Graphs to Describe Numerical Variables
AACSB: Analytic Skills
Course LO: Use a modern software tool to perform statistical calculations<\/p>\n","protected":false},"excerpt":{"rendered":"
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