Applied Statistics in Business and Economics 7th Edition by David Doane Test Bank – Complete Exam Questions & Answers with Solutions, Chapters 1–17

TEST BANK

Applied Statistics Business Economics

David P. Doane

7th Edition

,Table of Contents
1. Overview of Statistics
2. Data Collection
3. Describing Data Visually
4. Descriptive Statistics
5. Probability
6. Discrete Probability Distributions
7. Continuous Probability Distributions
8. Sampling Distributions and Estimation
9. One-Sample Hypothesis Tests
10. Two-Sample Hypothesis Tests
11. Analysis of Variance
12. Simple Regression
13. Multiple Regression
14. Time-Series Analysis
15. Chi-Square Tests
16. Nonparametric Tests
17. Quality Management

,Chapter 1 Overview of Statistics

1) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.

Answer: TRUE
Explanation: This is one of many good definitions of statistics.
Difficulty: 1 Easy
Topic: 01.01 What Is Statistics?
Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom’s: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

2) Inferential statistics refers to generalizing from a sample to a population, estimating unknown
parameters, drawing conclusions, and making decisions.

Answer: TRUE
Explanation: We can use statistics either to describe data or to infer something about a
population.
Difficulty: 1 Easy
Topic: 01.03 Statistics in Business
Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom’s: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

3) Descriptive statistics refers to summarizing data rather than generalizing about the population.

Answer: TRUE
Explanation: When we do not infer, we are only describing the available sample data.
Difficulty: 1 Easy
Topic: 01.03 Statistics in Business
Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom’s: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

, 4) Estimating parameters and testing hypotheses are important aspects of descriptive statistics.

Answer: FALSE
Explanation: When we generalize to a population, we are using inferential statistics.
Difficulty: 2 Medium
Topic: 01.03 Statistics in Business
Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom’s: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

5) Inconsistent treatment of data by a researcher is a symptom of poor survey or research design.

Answer: FALSE
Explanation: Good survey data can still be misused or misinterpreted.
Difficulty: 2 Medium
Topic: 01.05 Critical Thinking
Learning Objective: 01-04 State the common challenges facing business professionals using
statistics.
Bloom’s: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

6) Empirical data are collected through observations and/or experiments.

Answer: TRUE
Explanation: Empirical data are contrasted with <i>a priori</i> estimates (e.g., expecting 10
heads in 20 coin flips).
Difficulty: 2 Medium
Topic: 01.05 Critical Thinking
Learning Objective: 01-04 State the common challenges facing business professionals using
statistics.
Bloom’s: Remember
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation

7) Business intelligence refers to collecting, storing, accessing, and analyzing data on the
company’s operations in order to make better business decisions.

Answer: TRUE
Explanation: See Wikipedia for similar definitions of business intelligence.
Difficulty: 1 Easy
Topic: 01.03 Statistics in Business
Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom’s: Remember
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation