EXAM 1 FOR BUSINESS STATISTICS LATEST 2025 WITH QUESTIONS AND CORRECT VERIFIED
AND DETAILED ANSWERS GRADED A+ GUARANTEED 100% PASS
A population is a collection of all individuals, objects, or measurements of interest. - (ANSWER)TRUE
Statistics are used as a basis for making decisions. - (ANSWER)TRUE
A listing of 100 family annual incomes is an example of statistics. - (ANSWER)FALSE A listing of incomes is
raw data. Statistics is used to organize, summarize, and present the data.
The average number of passengers on commercial flights between Chicago and New York City is an
example of a statistic. - (ANSWER)TRUE
Statistics are used to report the summary results of market surveys. - (ANSWER)TRUE
A sample is a portion or part of the population of interest. - (ANSWER)TRUE
To infer something about a population, we usually take a sample from the population. - (ANSWER)TRUE
Descriptive statistics are used to find out something about a population based on a sample. -
(ANSWER)FALSE Inferential statistics uses sample information to find out something about a population.
There are four levels of measurement: qualitative, quantitative, discrete, and continuous. -
(ANSWER)FALSE The four levels of measurement are nominal, ordinal, interval, and ratio.
The ordinal level of measurement is considered the "lowest" level of measurement. - (ANSWER)FALSE
The nominal scale is the "lowest" level of measurement.
A store asks shoppers for their zip code to identify market areas. Zip codes are an example of ratio data.
- (ANSWER)FALSE While zip codes use numbers they are only labels. Therefore, they represent a
nominal measurement scale.
, EXAM 1 FOR BUSINESS STATISTICS LATEST 2025 WITH QUESTIONS AND CORRECT VERIFIED
AND DETAILED ANSWERS GRADED A+ GUARANTEED 100% PASS
An ordinal level of measurement implies some sort of ranking. - (ANSWER)TRUE
Data measured on a nominal scale can only be classified into categories. - (ANSWER)TRUE
The terms descriptive statistics and inferential statistics can be used interchangeably. - (ANSWER)FALSE
Descriptive statistics are used to organize, summarize, and present data. Inferential statistics uses
sample information to make inferences about a population.
A marketing research agency was hired to test a new DVD player. Consumers rated it outstanding, very
good, fair, or poor. The level of measurement for this experiment is ordinal. - (ANSWER)TRUE
The Union of Electrical Workers of America with 9,128 members polled 362 members about a new wage
package that will be submitted to management. The population is the 362 members. - (ANSWER)FALSE
The 362 members are a sample or portion of the population of 9,128 union members.
The CIA World Factbook cited these numbers for the United States: The birthrate is 14.14 births per
1,000 population. The average life expectancy for females is 80 years. Approximately 290 million
persons reside in the United States. Each of these numbers is referred to as a statistic. - (ANSWER)TRUE
If we select 100 persons from 25,000 registered voters and question them about candidates and issues,
the 100 persons are referred to as the population. - (ANSWER)FALSE The 100 people are a sample or
portion of the population of 25,000 registered voters.
Statistics is defined as a body of techniques used to facilitate the collection, organization, presentation,
analysis, and interpretation of information for the purpose of making better decisions. - (ANSWER)TRUE
Categorizing voters as Democrats, Republicans, and Independents is an example of interval level
measurement. - (ANSWER)FALSE Political party is a label that corresponds to a nominal level of
measurement.
AND DETAILED ANSWERS GRADED A+ GUARANTEED 100% PASS
A population is a collection of all individuals, objects, or measurements of interest. - (ANSWER)TRUE
Statistics are used as a basis for making decisions. - (ANSWER)TRUE
A listing of 100 family annual incomes is an example of statistics. - (ANSWER)FALSE A listing of incomes is
raw data. Statistics is used to organize, summarize, and present the data.
The average number of passengers on commercial flights between Chicago and New York City is an
example of a statistic. - (ANSWER)TRUE
Statistics are used to report the summary results of market surveys. - (ANSWER)TRUE
A sample is a portion or part of the population of interest. - (ANSWER)TRUE
To infer something about a population, we usually take a sample from the population. - (ANSWER)TRUE
Descriptive statistics are used to find out something about a population based on a sample. -
(ANSWER)FALSE Inferential statistics uses sample information to find out something about a population.
There are four levels of measurement: qualitative, quantitative, discrete, and continuous. -
(ANSWER)FALSE The four levels of measurement are nominal, ordinal, interval, and ratio.
The ordinal level of measurement is considered the "lowest" level of measurement. - (ANSWER)FALSE
The nominal scale is the "lowest" level of measurement.
A store asks shoppers for their zip code to identify market areas. Zip codes are an example of ratio data.
- (ANSWER)FALSE While zip codes use numbers they are only labels. Therefore, they represent a
nominal measurement scale.
, EXAM 1 FOR BUSINESS STATISTICS LATEST 2025 WITH QUESTIONS AND CORRECT VERIFIED
AND DETAILED ANSWERS GRADED A+ GUARANTEED 100% PASS
An ordinal level of measurement implies some sort of ranking. - (ANSWER)TRUE
Data measured on a nominal scale can only be classified into categories. - (ANSWER)TRUE
The terms descriptive statistics and inferential statistics can be used interchangeably. - (ANSWER)FALSE
Descriptive statistics are used to organize, summarize, and present data. Inferential statistics uses
sample information to make inferences about a population.
A marketing research agency was hired to test a new DVD player. Consumers rated it outstanding, very
good, fair, or poor. The level of measurement for this experiment is ordinal. - (ANSWER)TRUE
The Union of Electrical Workers of America with 9,128 members polled 362 members about a new wage
package that will be submitted to management. The population is the 362 members. - (ANSWER)FALSE
The 362 members are a sample or portion of the population of 9,128 union members.
The CIA World Factbook cited these numbers for the United States: The birthrate is 14.14 births per
1,000 population. The average life expectancy for females is 80 years. Approximately 290 million
persons reside in the United States. Each of these numbers is referred to as a statistic. - (ANSWER)TRUE
If we select 100 persons from 25,000 registered voters and question them about candidates and issues,
the 100 persons are referred to as the population. - (ANSWER)FALSE The 100 people are a sample or
portion of the population of 25,000 registered voters.
Statistics is defined as a body of techniques used to facilitate the collection, organization, presentation,
analysis, and interpretation of information for the purpose of making better decisions. - (ANSWER)TRUE
Categorizing voters as Democrats, Republicans, and Independents is an example of interval level
measurement. - (ANSWER)FALSE Political party is a label that corresponds to a nominal level of
measurement.
