True/False
1. VirtuallyYallYareasYofYbusinessYuseYstatisticsYinYdecisionYmaking.
Ans:YTrue
Response:YSeeYsectionY1.1,YStatisticsYinYBusines
sYDifficulty:YEasy
LearningYObjective:Y1.1:YListYquantitativeYandYgraphicalYexamplesYofYstatisticsYwithinYaYbusinessYco
ntext.
2. TheYcompleteYcollectionYofYallYentitiesYunderYstudyYisYcalledYtheYsample.
Ans:YFalse
Response:YSeeYsectionY1.2,YBasicYStatisticalYConcept
sYDifficulty:YEasy
LearningYObjective:Y1.2:YdefineYimportantYstatisticalYterms,YincludingYpopulation,Ysample,YandYpara
meter,YasYtheyYrelateYtoYdescriptiveYandYinferentialYstatistics.
3. AYportionYorYsubsetYofYtheYentitiesYunderYstudyYisYcalledYtheYstatistic.
Ans:YFalse
Response:YSeeYsectionY1.2,YBasicYStatisticalYConcept
sYDifficulty:YEasy
LearningYObjective:Y1.2:YdefineYimportantYstatisticalYterms,YincludingYpopulation,Ysample,YandYpara
meter,YasYtheyYrelateYtoYdescriptiveYandYinferentialYstatistics.
4. AYdescriptiveYmeasureYofYtheYpopulationYisYcalledYaYparameter.
Ans:YTrue
Response:YSeeYsectionY1.2,YBasicYStatisticalYConcept
sYDifficulty:YEasy
LearningYObjective:Y1.2:YdefineYimportantYstatisticalYterms,YincludingYpopulation,Ysample,YandYpara
meter,YasYtheyYrelateYtoYdescriptiveYandYinferentialYstatistics.
,5. AYcensusYisYtheYprocessYofYgatheringYdataYonYallYtheYentitiesYinYtheYpopulation.
Ans:YTrue
Response:YSeeYsectionY1.2,YBasicYStatisticalYConcept
sYDifficulty:YEasy
LearningYObjective:Y1.2:YdefineYimportantYstatisticalYterms,YincludingYpopulation,Ysample,YandYpara
meter,YasYtheyYrelateYtoYdescriptiveYandYinferentialYstatistics.
6. StatisticsYisYcommonlyYdividedYintoYtwoYbranchesYcalledYdescriptiveYstatisticsYandYsummar
yYstatistics.
Ans:YFalse
Response:YSeeYsectionY1.2,YBasicYStatisticalYConcept
sYDifficulty:YEasy
LearningYObjective:Y1.2:YdefineYimportantYstatisticalYterms,YincludingYpopulation,Ysample,YandYpara
meter,YasYtheyYrelateYtoYdescriptiveYandYinferentialYstatistics.
7. AYdescriptiveYmeasureYofYtheYsampleYisYcalledYaYstatistic.
Ans:YTrue
Response:YSeeYsectionY1.2,YBasicYStatisticalYConcept
sYDifficulty:YEasy
LearningYObjective:Y1.2:YdefineYimportantYstatisticalYterms,YincludingYpopulation,Ysample,YandYpara
meter,YasYtheyYrelateYtoYdescriptiveYandYinferentialYstatistics.
8. GatheringYdataYfromYaYsampleYtoYreachYconclusionsYaboutYtheYpopulationYfromYwhichYth
eYsampleYwasYdrawnYisYcalledYdescriptiveYstatistics.
Ans:YFalse
Response:YSeeYsectionY1.2,YBasicYStatisticalYConcept
sYDifficulty:YMedium
LearningYObjective:Y1.2:YdefineYimportantYstatisticalYterms,YincludingYpopulation,Ysample,YandYpara
meter,YasYtheyYrelateYtoYdescriptiveYandYinferentialYstatistics.
, 9. CalculationYofYpopulationYparametersYisYusuallyYeitherYimpossibleYorYexcessivelyYtim
eYconsumingYandYcostly.
Ans:YTrue
Response:YSeeYsectionY1.2,YBasicYStatisticalYConcept
sYDifficulty:YEasy
LearningYObjective:Y1.2:YdefineYimportantYstatisticalYterms,YincludingYpopulation,Ysample,YandYpara
meter,YasYtheyYrelateYtoYdescriptiveYandYinferentialYstatistics.
10. TheYbasisYforYinferentialYstatisticsYisYtheYabilityYtoYmakeYdecisionsYaboutYpopulationYparameter
sYwithoutYhavingYtoYcompleteYaYcensusYofYtheYpopulation.
Ans:YTrue
Response:YSeeYsectionY1.2,YBasicYStatisticalYConcept
sYDifficulty:YEasy
LearningYObjective:Y1.2:YdefineYimportantYstatisticalYterms,YincludingYpopulation,Ysample,YandYpara
meter,YasYtheyYrelateYtoYdescriptiveYandYinferentialYstatistics.
11. AllYnumericalYdataYmustYbeYanalyzedYstatisticallyYinYtheYsameYwayYbecauseYallYofYthemYar
eYrepresentedYbyYnumbers.
Ans:YFalse
Response:YSeeYsectionY1.4,YDataYMeasuremen
tYDifficulty:YMedium
LearningYObjective:Y1.4:YCompareYtheYfourYdifferentYlevelsYofYdata:Ynominal,Yordinal,Yinterval,YandY
ratio.
12. TheYmannerYinYwhichYnumericalYdataYcanYbeYanalyzedYstatisticallyYdependsYonYtheYlevelYofYdat
aYmeasurementYrepresentedYbyYnumbersYbeingYanalyzed.
Ans:YTrue
Response:YSeeYsectionY1.4,YDataYMeasuremen
tYDifficulty:YMedium
LearningYObjective:Y1.4:YCompareYtheYfourYdifferentYlevelsYofYdata:Ynominal,Yordinal,Yinterval,YandYr
atio.