OPRE 3360 EXAM 1 QUESTIONS COMPLETE
WITH VERIFIED ANSWERS
The term ______ can refer to ______ that help us understand a variety of
business situations.
statistics; numerical facts
______ can also refer to the ______ of collecting, analyzing, presenting, and
interpreting data.
Statistics; art and science
______ are the facts and figures collected, analyzed, and summarized for
presentation and interpretation.
data
All the data collected in a particular study are referred to as the ______ for the
study.
data set
what are the 2 types of data?
qualitative which is categorical, and quantitative which is numerical
Nominal Scale (Categorical)
Data are labels or names used to identify an attribute of the element. A
nonnumeric label or numeric code may be used.
Ordinal Scale (Categorical)
, The data have the properties of nominal data and the order or rank of the data is
meaningful. A nonnumeric label or numeric code may be used.
Interval Scale (Quantitative)
The interval between observations is expressed in terms of a fixed unit of
measure. Interval data are always numeric. Zero is meaningless.
Ratio Scale (Quantitative)
The ratio of two values is meaningful. This scale must contain a zero value that
indicates that nothing exists for the variable at the zero point.
cross sectional
are collected at the same or approximately the same time
time series
are collected over several time periods and identify any trends over time
Descriptive:
Organize and summarize data. Most of the statistical information in magazines,
company reports and the news. They can be tables, graphs or numbers
Inferential:
Uses data obtained from a sample to make estimates and test hypothesis about
the population. Sample: subset of the population. Population: the set of all
elements of interest
Unethical behavior can take a variety of forms including:
Improper sampling, Development of misleading graphs, Use of inappropriate
summary statistics, Biased interpretation of the statistical results
If the measures are computed for data from a sample, they are called
sample statistics.
If the measures are computed for data from a population, they are called
WITH VERIFIED ANSWERS
The term ______ can refer to ______ that help us understand a variety of
business situations.
statistics; numerical facts
______ can also refer to the ______ of collecting, analyzing, presenting, and
interpreting data.
Statistics; art and science
______ are the facts and figures collected, analyzed, and summarized for
presentation and interpretation.
data
All the data collected in a particular study are referred to as the ______ for the
study.
data set
what are the 2 types of data?
qualitative which is categorical, and quantitative which is numerical
Nominal Scale (Categorical)
Data are labels or names used to identify an attribute of the element. A
nonnumeric label or numeric code may be used.
Ordinal Scale (Categorical)
, The data have the properties of nominal data and the order or rank of the data is
meaningful. A nonnumeric label or numeric code may be used.
Interval Scale (Quantitative)
The interval between observations is expressed in terms of a fixed unit of
measure. Interval data are always numeric. Zero is meaningless.
Ratio Scale (Quantitative)
The ratio of two values is meaningful. This scale must contain a zero value that
indicates that nothing exists for the variable at the zero point.
cross sectional
are collected at the same or approximately the same time
time series
are collected over several time periods and identify any trends over time
Descriptive:
Organize and summarize data. Most of the statistical information in magazines,
company reports and the news. They can be tables, graphs or numbers
Inferential:
Uses data obtained from a sample to make estimates and test hypothesis about
the population. Sample: subset of the population. Population: the set of all
elements of interest
Unethical behavior can take a variety of forms including:
Improper sampling, Development of misleading graphs, Use of inappropriate
summary statistics, Biased interpretation of the statistical results
If the measures are computed for data from a sample, they are called
sample statistics.
If the measures are computed for data from a population, they are called
