BASIC BUSINESS STATISTICS :

TEST B ANK

JAMES

BALDONE

BASIC BUSINESS STATISTICS:

CONCEPTS AND APPLICATIONS

FOURTEENTH EDITION

Mark

• Berenson

David M. Levine Kathryn

• Szabat

David F. Stephan 1 / 4

Important Things to Learn First GS-1 Copyright ©2019 Pearson Education, Inc.

GETTING STARTED: IMPORTANT THINGS TO LEARN

FIRST

• The process of using data collected from a small group to reach conclusions about a large group

is called

• statistical inference.

b) DCOVA framework.

• operational definition.
• descriptive statistics.

ANSWER:

a TYPE: MC DIFFICULTY: Easy

KEYWORDS: inferential statistics

• Those methods involving the collection, presentation, and characterization of a set of data in

order to properly describe the various features of that set of data are called

• statistical inference.

b) DCOVA framework.

• operational definition.
• descriptive statistics.

ANSWER:

d TYPE: MC DIFFICULTY: Easy

KEYWORDS: descriptive statistics

• The collection and summarization of the socioeconomic and physical characteristics of the

employees of a particular firm is an example of

• inferential statistics.
• descriptive statistics.
• operational definition.

d) DCOVA framework.

ANSWER:

b TYPE: MC DIFFICULTY: Easy

KEYWORDS: descriptive statistics

• The estimation of the population average family expenditure on food based on the sample average

expenditure of 1,000 families is an example of

• inferential statistics.
• descriptive statistics.

c) DCOVA framework.

• operational definition.

ANSWER:

a TYPE: MC DIFFICULTY: Easy

KEYWORDS: inferential statistics

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GS-2 Important Things to Learn First Copyright ©2019 Pearson Education, Inc.

• Which of the following is not an element of descriptive statistical problems?

a) An inference made about the population based on the sample.

b) The population or sample of interest.

c) Tables, graphs, or numerical summary tools.

d) Identification of patterns in the data.

ANSWER:

a TYPE: MC DIFFICULTY: Moderate

KEYWORDS: descriptive statistics

• A study is under way in Yosemite National Forest to determine the adult height of American pine

trees. Specifically, the study is attempting to determine what factors aid a tree in reaching heights greater than 60 feet tall. It is estimated that the forest contains 25,000 adult American pines. The study involves collecting heights from 250 randomly selected adult American pine trees and analyzing the results. Identify the variable of interest in the study.

a) The age of an American pine tree in Yosemite National Forest.

b) The height of an American pine tree in Yosemite National Forest.

c) The number of American pine trees in Yosemite National Forest.

d) The species of trees in Yosemite National Forest.

ANSWER:

b TYPE: MC DIFFICULTY: Easy

KEYWORDS: variable

• Most analysts focus on the cost of tuition as the way to measure the cost of a college education.

But incidentals, such as textbook costs, are rarely considered. A researcher at Drummand University wishes to estimate the textbook costs of first-year students at Drummand. To do so, she monitored the textbook cost of 250 first-year students and found that their average textbook cost was $600 per semester. Identify the variable of interest to the researcher.

a) The textbook cost of first-year Drummand University students.

b) The year in school of Drummand University students.

c) The age of Drummand University students.

d) The cost of incidental expenses of Drummand University students.

ANSWER:

a TYPE: MC DIFFICULTY: Easy

KEYWORDS: variable

• True or False: Problems may arise when statistically unsophisticated users who do not understand

the assumptions behind the statistical procedures or their limitations are misled by results obtained from computer software.

ANSWER:

True TYPE: TF DIFFICULTY: Easy

KEYWORDS: statistical package

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Important Things to Learn First GS-3 Copyright ©2019 Pearson Education, Inc.

• True or False: Managers need an understanding of statistics to be able to present and describe

information accurately, draw conclusions about large populations based on small samples, improve processes, and make reliable forecasts.

ANSWER:

True TYPE: TF DIFFICULTY: Easy

KEYWORDS: reasons for learning statistics

• True or False: A professor computed the sample average exam score of 20 students and used it to

estimate the average exam score of the 1,500 students taking the exam. This is an example of inferential statistics.

ANSWER:

True TYPE: TF DIFFICULTY: Easy

KEYWORDS: descriptive statistics, inferential statistics

• True or False: Using the number of registered voters who turned out to vote for the primary in

Iowa to predict the number of registered voters who will turn out to vote in Vermont’s primary is an example of descriptive statistics.

ANSWER:

False TYPE: TF DIFFICULTY: Easy

KEYWORDS: descriptive statistics, inferential statistics

• True or False: Compiling the number of registered voters who turned out to vote for the primary

in Iowa is an example of descriptive statistics.

ANSWER:

True TYPE: TF DIFFICULTY: Easy

KEYWORDS: descriptive statistics, inferential statistics

• The Human Resources Director of a large corporation wishes to develop an employee benefits

package and decides to select 500 employees from a list of all (N = 40,000) workers in order to study their preferences for the various components of a potential package. In this study, methods involving the collection, presentation, and characterization of the data are called _______.

ANSWER:

descriptive statistics/methods TYPE: FI DIFFICULTY: Easy

KEYWORDS: descriptive statistics

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