Solution Manual for Basic Statistics in Business and
Economics 10th Edition By Douglas Lind, Chapter(1-15)
Statistics - ANSWER the study of how to collect, organize, analyze, and interpret
numerical information from data.
Individuals - ANSWER the people or objects included in the study.
Variable - ANSWER a characteristic of the individual to be measured or observed.
Quantitative Variable - ANSWER has a value or numerical measurement for which
operations such as addition or averaging make sense.
Qualitative Variable - ANSWER describes an individual by placing the individual
into a category or group, such as male or female.
Population Data - ANSWER the data are from every individual of interest. Data
from a specific population are fixed and complete.
Sample Data - ANSWER the data are from only some of the individuals of interest.
Data from samples vary from sample to sample and are NOT complete.
Parameter - ANSWER a numerical measure that describes an aspect of a
population.
Statistic - ANSWER a numerical measure that describes an aspect of a sample.
Nominal Level - ANSWER The nominal level of measurement applies to data that
consists of names, labels, or categories. There are no implied criteria by which the
data can be ordered from smallest to largest. We can put the data into categories.
Ordinal Level - ANSWER The ordinal level of measurement applies to data that
can be arranged in order. However, differences between data values either cannot
be determined or are meaningless. We can order the data from smallest to largest or
"worst" to "best". Each data value can be compared with another data value.
Interval Level - ANSWER The interval level of measurement applies to data that
can be arranged in order. In addition, differences between data values are
meaningful. We can order the data and also take the differences between data
values. At this level, it makes sense to compare the differences between data
values. For instance, we can say that one data value is 5 more than or 12 less than
another data value.
Ratio Level - ANSWER The ratio level of measurement applies to data that can be
arranged in order. In addition, both differences between data values and ratios of
data values are meaningful. Data at the ratio level have a true zero. We can order
, the data, take differences, and also find the ratio between data values. For instance,
it makes sense to sat that one data value is twice as large as another.
Descriptive Statistics - ANSWER Descriptive statistics involves methods or
organizing, picturing, and summarizing information from samples or populations.
Inferential Statistics - ANSWER Inferential statistics involves methods of using
information from a sample to draw conclusions regarding the population.
Simple Random Sample - ANSWER A simple random sample of "n"
measurements from a population is a subset of the population selected in a manner
that every sample of size "n" from the population has an equal chance of being
selected. Every sample of the given size must also have an equal chance of being
selected.
Random-Number Table - ANSWER Make one yourself by writing the digits 0-9 on
separate cards and mixing the cards in a "hat". Draw a card, record the digit, return
the card, mix up the cards, and draw again.
Draw a Random Sample - ANSWER 1. Number all members of the population
sequentially.
2. Use a table, calculator, or computer to select random numbers from the numbers
assigned to the population members.
3. Create the sample by using population members with numbers corresponding to
those randomly selected.
Simulation - ANSWER A simulation is a numerical facsimile or representation of a
real-world phenomenon.
Sampling With Replacement - ANSWER although a number has been selected for
the sample, it is not removed from the population
Stratified Sampling - ANSWER Groups or classes inside a population that share a
common characteristic are called strata.
Systematic Sampling - ANSWER It is assumed that the elements of the population
are arranged in some natural sequential order
Cluster Sampling - ANSWER Divide the pop. into sections and then randomly
select certain sections and use all of the people in that section.
Convenience Sampling - ANSWER Create a sample by using data from population
members that are readily available - not very reliable.
Census - ANSWER Measurements of the entire population
Sampling - ANSWER Measurement of part of an existing population
Simulation - ANSWER a numerical facsimile of real-world phenomena
Economics 10th Edition By Douglas Lind, Chapter(1-15)
Statistics - ANSWER the study of how to collect, organize, analyze, and interpret
numerical information from data.
Individuals - ANSWER the people or objects included in the study.
Variable - ANSWER a characteristic of the individual to be measured or observed.
Quantitative Variable - ANSWER has a value or numerical measurement for which
operations such as addition or averaging make sense.
Qualitative Variable - ANSWER describes an individual by placing the individual
into a category or group, such as male or female.
Population Data - ANSWER the data are from every individual of interest. Data
from a specific population are fixed and complete.
Sample Data - ANSWER the data are from only some of the individuals of interest.
Data from samples vary from sample to sample and are NOT complete.
Parameter - ANSWER a numerical measure that describes an aspect of a
population.
Statistic - ANSWER a numerical measure that describes an aspect of a sample.
Nominal Level - ANSWER The nominal level of measurement applies to data that
consists of names, labels, or categories. There are no implied criteria by which the
data can be ordered from smallest to largest. We can put the data into categories.
Ordinal Level - ANSWER The ordinal level of measurement applies to data that
can be arranged in order. However, differences between data values either cannot
be determined or are meaningless. We can order the data from smallest to largest or
"worst" to "best". Each data value can be compared with another data value.
Interval Level - ANSWER The interval level of measurement applies to data that
can be arranged in order. In addition, differences between data values are
meaningful. We can order the data and also take the differences between data
values. At this level, it makes sense to compare the differences between data
values. For instance, we can say that one data value is 5 more than or 12 less than
another data value.
Ratio Level - ANSWER The ratio level of measurement applies to data that can be
arranged in order. In addition, both differences between data values and ratios of
data values are meaningful. Data at the ratio level have a true zero. We can order
, the data, take differences, and also find the ratio between data values. For instance,
it makes sense to sat that one data value is twice as large as another.
Descriptive Statistics - ANSWER Descriptive statistics involves methods or
organizing, picturing, and summarizing information from samples or populations.
Inferential Statistics - ANSWER Inferential statistics involves methods of using
information from a sample to draw conclusions regarding the population.
Simple Random Sample - ANSWER A simple random sample of "n"
measurements from a population is a subset of the population selected in a manner
that every sample of size "n" from the population has an equal chance of being
selected. Every sample of the given size must also have an equal chance of being
selected.
Random-Number Table - ANSWER Make one yourself by writing the digits 0-9 on
separate cards and mixing the cards in a "hat". Draw a card, record the digit, return
the card, mix up the cards, and draw again.
Draw a Random Sample - ANSWER 1. Number all members of the population
sequentially.
2. Use a table, calculator, or computer to select random numbers from the numbers
assigned to the population members.
3. Create the sample by using population members with numbers corresponding to
those randomly selected.
Simulation - ANSWER A simulation is a numerical facsimile or representation of a
real-world phenomenon.
Sampling With Replacement - ANSWER although a number has been selected for
the sample, it is not removed from the population
Stratified Sampling - ANSWER Groups or classes inside a population that share a
common characteristic are called strata.
Systematic Sampling - ANSWER It is assumed that the elements of the population
are arranged in some natural sequential order
Cluster Sampling - ANSWER Divide the pop. into sections and then randomly
select certain sections and use all of the people in that section.
Convenience Sampling - ANSWER Create a sample by using data from population
members that are readily available - not very reliable.
Census - ANSWER Measurements of the entire population
Sampling - ANSWER Measurement of part of an existing population
Simulation - ANSWER a numerical facsimile of real-world phenomena
