Business Statistics, Groebner - Complete test bank - exam questions - quizzes (updated 2022)

Business Statistics, 9e (Groebner/Shannon/Fry)

Chapter 1 The Where, Why, and How of Data Collection



1) Statistics is a discipline that involves tools and techniques used to describe data and draw
conclusions.

Answer: TRUE

Diff: 1

Keywords: descriptive statistics

Section: 1-1 What Is Business Statistics?

Outcome: none




2) In this course, the term business statistics refers to the set of tools and techniques that are used
to convert information into meaningful data.

Answer: FALSE

Diff: 1

Keywords: descriptive statistics and/or inferential statistics

Section: 1-1 What Is Business Statistics?

Outcome: none




3) Descriptive statistics allow a decision maker to reach a conclusion about a population based
on a subset from the population.

Answer: FALSE

Diff: 2

Keywords: descriptive statistics and/or inferential statistics

Section: 1-1 What Is Business Statistics?

Outcome: none

,4) An accountant has recently prepared a report for a client that contains a variety of graphs and
charts. In doing so, she has used descriptive statistical methods.

Answer: TRUE

Diff: 1

Keywords: descriptive statistics

Section: 1-1 What Is Business Statistics?

Outcome: none




5) Descriptive statistical tools include graphs, charts, and numerical measures.

Answer: TRUE

Diff: 1

Keywords: descriptive statistics

Section: 1-1 What Is Business Statistics?

Outcome: none




6) A histogram is an example of a numerical measure.

Answer: FALSE

Diff: 1

Keywords: descriptive statistics

Section: 1-1 What Is Business Statistics?

Outcome: none

7) Companies frequently use charts and graphs in their regular communications with
stockholders and investors; this shows the use of descriptive statistics.

Answer: TRUE

Diff: 1

,Keywords: descriptive statistics

Section: 1-1 What Is Business Statistics?

Outcome: none




8) A manufacturing manager has developed a table that shows the average production volume
each day for the past three weeks. The average production level is an example of a numerical
measure.

Answer: TRUE

Diff: 1

Keywords: descriptive statistics

Section: 1-1 What Is Business Statistics?

Outcome: none




9) An accountant who recently examined 200 accounts from a company's total of 4,000 accounts
in an effort to estimate the percentage of all accounts that have incorrect journal entries is using
descriptive statistical analysis to reach the conclusion.

Answer: FALSE

Diff: 2

Keywords: descriptive statistics

Section: 1-1 What Is Business Statistics?

Outcome: none




10) The editor of a local newspaper is interested in determining the percentage of subscribers
who read the paper's editorials. The statistical technique that he would use is called estimation.

Answer: TRUE

Diff: 2

Keywords: descriptive statistics

, Section: 1-1 What Is Business Statistics?

Outcome: none




11) Hypothesis testing and estimation are two statistical tools that are used to draw inferences
about a large data set based on a subset of the data.

Answer: TRUE

Diff: 1

Keywords: inferential statistics

Section: 1-1 What Is Business Statistics?

Outcome: none




12) Another term for the arithmetic average is the mean.

Answer: TRUE

Diff: 1

Keywords: descriptive statistics, mean

Section: 1-1 What Is Business Statistics?

Outcome: none

13) Statistical inference would be used as the primary statistical tool by a quality control manager
who wishes to estimate the average weight of her company's products.

Answer: TRUE

Diff: 2

Keywords: inferential statistics

Section: 1-1 What Is Business Statistics?

Outcome: none




14) A light bulb manufacturer wants to advertise the average life of its light bulbs so it tests a