# Business Statistics Bank - Introduction and Data Collection...

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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 3. The collection and summarization of the socioeconomic and physical characteristics of the employees of a particular firm is an example of 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

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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 7. A summary measure that is computed to describe a characteristic from only a sample of the population is called 8. A summary measure that is computed to describe a characteristic of an entire population is called 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
Introduction and Data Collection 3 TYPE: MC DIFFICULTY: Moderate KEYWORDS: population, sample

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