Business Statistics Bank

Business Statistics Bank - Introduction and Data Collection...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
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
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
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
Image of page 2
Introduction and Data Collection 3 TYPE: MC DIFFICULTY: Moderate KEYWORDS: population, sample
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern