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Statistical Techniques In Business and Economics 16th Edition by Lind - Test Bank

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Statistical Techniques In Business and Economics 16th Edition by Lind - Test Bank












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Uploaded on
December 4, 2023
Number of pages
2021
Written in
2022/2023
Type
Exam (elaborations)
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, Chapter 01

What Is Statistics?


True / False Questions


1. A population is a collection of all individuals, objects, or measurements of interest.

True False

2. Statistics are used as a basis for making decisions.

True False

3. A listing of 100 family annual incomes is an example of statistics.

True False

4. The average number of passengers on commercial flights between Chicago and New
York City is an example of a statistic.

True False

5. Statistics are used to report the summary results of market surveys.

True False

6. A sample is a portion or part of the population of interest.

True False

7. To infer something about a population, we usually take a sample from the population.

True False

8. Descriptive statistics are used to find out something about a population based on a
sample.

True False

9. There are four levels of measurement: qualitative, quantitative, discrete, and
continuous.

True False

10. The ordinal level of measurement is considered the "lowest" level of measurement.

True False



1-1
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.

,11. A store asks shoppers for their zip code to identify market areas. Zip codes are an
example of ratio data.

True False

12. An ordinal level of measurement implies some sort of ranking.

True False

13. Data measured on a nominal scale can only be classified into categories.

True False

14. The terms descriptive statistics and inferential statistics can be used
interchangeably.

True False

15. A marketing research agency was hired to test a new DVD player. Consumers rated it
outstanding, very good, fair, or poor. The level of measurement for this experiment is
ordinal.

True False

16. The Union of Electrical Workers of America with 9,128 members polled 362 members
about a new wage package that will be submitted to management. The population is
the 362 members.

True False

17. The CIA World Factbook cited these numbers for the United States:

• The birthrate is 13.66 births per 1,000 population.
• The average life expectancy for females is 81.17 years.
• Approximately 316.7 million persons reside in the United States.

Each of these numbers is referred to as a statistic.

True False

18. If we select 100 persons from 25,000 registered voters and question them about
candidates and issues, the 100 persons are referred to as the population.

True False

19. Statistics is defined as a body of techniques used to facilitate the collection,
organization, presentation, analysis, and interpretation of information for the purpose
of making better decisions.

True False

20. Categorizing voters as Democrats, Republicans, and Independents is an example of
interval level measurement.

True False


1-2
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.

, 21. The order that runners finish in a race would be an example of continuous data.

True False

22. Based on a sample of 3,000 people, the civilian unemployment rate in the United
States was 5.5%. 5.5% is referred to as a statistic.

True False

23. The principal difference between the interval and ratio scale is that the ratio scale has
a meaningful zero point.

True False

24. The branch of mathematics used to facilitate the collection, organization,
presentation, analysis, and interpretation of numerical information is referred to as
statistics.

True False

25. The number of children in a family is a discrete variable.

True False




Multiple Choice Questions


26. The main purpose of descriptive statistics is to:


A. Summarize data in a useful and informative
manner.
B. Make inferences about a
population.
C. Determine if the data adequately represents the
population.
D. Gather or collect
data.

27. Which of the following is an example of a continuous variable?


A. Tons of concrete to complete a parking
garage
B. Number of students in a statistics
class
C. Zip codes of
shoppers
D. Rankings of baseball teams in a
league



1-3
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw-Hill Education.

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