Lind--Statistical Techniques in Business and Economics 15e

# Lind--Statistical Techniques in Business and Economics 15e...

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Chapter 01 What Is Statistics? True / False Questions 1. A population is a collection of all individuals, objects, or measurements of interest. True False 2. Statistics are used as a basis for making decisions. True False 3. A listing of 100 family annual incomes is an example of statistics. True False 4. The average number of passengers on commercial flights between Chicago and New York City is an example of a statistic. True False 5. Statistics are used to report the summary results of market surveys. True False 6. A sample is a portion or part of the population of interest. True False 7. To infer something about a population, we usually take a sample from the population. True False 1-1

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8. Descriptive statistics are used to find out something about a population based on a sample. True False 9. There are four levels of measurement-qualitative, quantitative, discrete, and continuous. True False 10. The ordinal level of measurement is considered the "lowest" level of measurement. True False 11. A store asks shoppers for their zip code to identify market areas. Zip codes are an example of ratio data. True False 12. An ordinal level of measurement implies some sort of ranking. True False 13. Data measured on a nominal scale can only be classified into categories. True False 14. The terms descriptive statistics and inferential statistics can be used interchangeably. True False 15. A marketing research agency was hired to test a new DVD player. Consumers rated it outstanding, very good, fair or poor. The level of measurement for this experiment is ordinal. True False 1-2
16. The Union of Electrical Workers of America with 9,128 members polled 362 members about a new wage package that will be submitted to management. The population is the 362 members. True False 17. The CIA World Factbook cited these numbers for the United States: Birthrate is 14.14 births per 1,000 population Average life expectancy for females is 80 years Approximately 290 million persons residing in the United States Each of these numbers is referred to as statistic. True False 18. If we select 100 persons from 25,000 registered voters and question them about candidates and issues, the 100 persons are referred to as the population. True False 19. Statistics is defined as a body of techniques used to facilitate the collection, organization, presentation, analysis and interpretation of information for the purpose of making better decisions. True False 20. Categorizing voters as Democrats, Republicans and Independents is an example of interval level measurement. True False 21. The order that runners finish in a race would be an example of continuous data. True False 1-3

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22. Based on a sample of 3,000 people, the civilian unemployment rate in the United States was 5.5%. 5.5% is referred to as a statistic.
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