Test Bank for Business Statistics A First Course, 8th Edition by David Levine, David Stephan, Kathryn Szabat A+ Latest

Test Bank for
Business Statistics
A First Course, 8e
David Levine,
David Stephan,
Kathryn Szabat
(All Chapters
Download link at
the end of this file)

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, First Thing First 1


First Things First
1. The process of using data collected from a small group to reach conclusions about a large group
is called
a) statistical inference.
b) DCOVA framework.
c) operational definition.
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) DCOVA framework.
c) operational definition.
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) operational definition.
d) DCOVA framework.

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) DCOVA framework.
d) operational definition.

ANSWER:
a
TYPE: MC DIFFICULTY: Easy
KEYWORDS: inferential statistics

5. Which of the following is not an element of descriptive statistical problems?
a) An inference made about the population based on the sample. .




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,First Thing First 2


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

6. 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 adult 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

7. 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

8. 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

9. 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.


.




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, First Thing First 3


ANSWER:
True
TYPE: TF DIFFICULTY: Easy
KEYWORDS: reasons for learning statistics

10. 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

11. 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

12. 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

13. 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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