BSTAT 3321 Exam 1 Review latest
update correctly answered
Which of the following is an example of time series data?
•A) Quarterly housing starts collected over the last 60 years
•B) Results of market research testing consumer preferences for soda
•C) Starting salaries of recent business graduates at Penn State University
•D) The sale prices of townhouses sold last year - correct answer ✔✔A) Quarterly housing starts
collected over the last 60 years
•2) An analyst studies a data set of the 2011 year-end book value per share for all companies
listed on the New York Stock Exchange. This data set is best described as
•A) a combination of time series and cross-sectional data.
•B) time series data.
•C) neither time series nor cross-sectional data.
•D) cross-sectional data. - correct answer ✔✔D) cross-sectional data.
•3) San Francisco 49ers' linebacker Patrick Willis won the Defensive Rookie of the Year Award in
2007 with a total of 174 tackles. Tackles are measured on what kind of a scale? Is a variable
measuring the number of tackles considered continuous or discrete?
•A) Interval scale; discrete B) Interval scale; continuous
•C) Ratio scale; discrete D) Ratio scale; continuous - correct answer ✔✔C) Ratio scale
, •4) The ordinal scale of data measurement is
•A) more sophisticated than the nominal scale.
•B) less sophisticated than the nominal scale.
•C) more sophisticated than the interval scale.
•D) as equally sophisticated as the nominal scale. - correct answer ✔✔A) more sophisticated
than the nominal scale.
•5) A recent survey of 200 small firms (annual revenue less than $10 million) asked whether an
increase in the minimum wage would cause the firm to decrease capital spending. Possible
responses to the survey question were: "Yes," "No," or "Don't Know." This data is best classified
as
•A) ratio scale. B) ordinal scale. C) nominal scale. D) interval scale. - correct answer ✔✔C)
nominal scale
•6) At the end of a semester college students evaluate their instructors by assigning them to
one of the following categories: Excellent, Good, Average, Below Average, and Poor. The
measurement scale is a(n)
•A) ordinal scale. B) nominal scale. C) interval scale. D) ratio scale. - correct answer ✔✔A)
ordinal scale
•7) The following is a list of five of the world's busiest airports by passenger traffic for 2010.
• - correct answer ✔✔B)
•8) The accompanying chart shows the numbers of books written by each author in a collection
of cookbooks. What type of chart is this?
•A) Bar chart for quantitative data
update correctly answered
Which of the following is an example of time series data?
•A) Quarterly housing starts collected over the last 60 years
•B) Results of market research testing consumer preferences for soda
•C) Starting salaries of recent business graduates at Penn State University
•D) The sale prices of townhouses sold last year - correct answer ✔✔A) Quarterly housing starts
collected over the last 60 years
•2) An analyst studies a data set of the 2011 year-end book value per share for all companies
listed on the New York Stock Exchange. This data set is best described as
•A) a combination of time series and cross-sectional data.
•B) time series data.
•C) neither time series nor cross-sectional data.
•D) cross-sectional data. - correct answer ✔✔D) cross-sectional data.
•3) San Francisco 49ers' linebacker Patrick Willis won the Defensive Rookie of the Year Award in
2007 with a total of 174 tackles. Tackles are measured on what kind of a scale? Is a variable
measuring the number of tackles considered continuous or discrete?
•A) Interval scale; discrete B) Interval scale; continuous
•C) Ratio scale; discrete D) Ratio scale; continuous - correct answer ✔✔C) Ratio scale
, •4) The ordinal scale of data measurement is
•A) more sophisticated than the nominal scale.
•B) less sophisticated than the nominal scale.
•C) more sophisticated than the interval scale.
•D) as equally sophisticated as the nominal scale. - correct answer ✔✔A) more sophisticated
than the nominal scale.
•5) A recent survey of 200 small firms (annual revenue less than $10 million) asked whether an
increase in the minimum wage would cause the firm to decrease capital spending. Possible
responses to the survey question were: "Yes," "No," or "Don't Know." This data is best classified
as
•A) ratio scale. B) ordinal scale. C) nominal scale. D) interval scale. - correct answer ✔✔C)
nominal scale
•6) At the end of a semester college students evaluate their instructors by assigning them to
one of the following categories: Excellent, Good, Average, Below Average, and Poor. The
measurement scale is a(n)
•A) ordinal scale. B) nominal scale. C) interval scale. D) ratio scale. - correct answer ✔✔A)
ordinal scale
•7) The following is a list of five of the world's busiest airports by passenger traffic for 2010.
• - correct answer ✔✔B)
•8) The accompanying chart shows the numbers of books written by each author in a collection
of cookbooks. What type of chart is this?
•A) Bar chart for quantitative data
