Business statistics bank

Business Statistics Bank
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Introduction and Data Collection 1 CHAPTER 1: INTRODUCTION AND DATA COLLECTION 1. The process of using sample statistics to draw conclusions about true population parameters is called a) statistical inference. b) the scientific method. c) sampling. d) descriptive statistics. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: inferential statistics 2. 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 a) statistical inference. b) the scientific method. c) sampling. d) descriptive statistics. ANSWER: d TYPE: MC DIFFICULTY: Easy KEYWORDS: descriptive statistics 3. The collection and summarization of the socioeconomic and physical characteristics of the employees of a particular firm is an example of a) inferential statistics. b) descriptive statistics. c) a parameter. d) a statistic. ANSWER: b TYPE: MC DIFFICULTY: Easy KEYWORDS: descriptive statistics 4. The estimation of the population average family expenditure on food based on the sample average expenditure of 1,000 families is an example of a) inferential statistics. b) descriptive statistics. c) a parameter. d) a statistic. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: inferential statistics
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2 Introduction and Data Collection 5. The universe or "totality of items or things" under consideration is called a) a sample. b) a population. c) a parameter. d) a statistic. ANSWER: b TYPE: MC DIFFICULTY: Easy KEYWORDS: population 6. The portion of the universe that has been selected for analysis is called a) a sample. b) a frame. c) a parameter. d) a statistic. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: sample 7. A summary measure that is computed to describe a characteristic from only a sample of the population is called a) a parameter. b) a census. c) a statistic. d) the scientific method. ANSWER: c TYPE: MC DIFFICULTY: Easy KEYWORDS: statistic 8. A summary measure that is computed to describe a characteristic of an entire population is called a) a parameter. b) a census. c) a statistic. d) the scientific method. ANSWER: a TYPE: MC DIFFICULTY: Easy KEYWORDS: parameter 9. Which of the following is most likely a population as opposed to a sample? a) respondents to a newspaper survey b) the first 5 students completing an assignment c) every third person to arrive at the bank d) registered voters in a county ANSWER: d
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Introduction and Data Collection 3 TYPE: MC DIFFICULTY: Moderate KEYWORDS: population, sample 10. Which of the following is most likely a parameter as opposed to a statistic? a) the average score of the first five students completing an assignment b) the proportion of females registered to vote in a county c) the average height of people randomly selected from a database d) the proportion of trucks stopped yesterday that were cited for bad brakes ANSWER: b TYPE: MC DIFFICULTY: Moderate KEYWORDS: parameter, statistic 11. Which of the following is not an element of descriptive statistical problems?
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