MEDSTUDY.COM
Test Bank for
Business Statistics
For Contemporary
M
Decision Making, 3rd
ED
Canadian Edition, 3e
Ken Black, Tiffany
ST
Bayley, Ignacio
U
D
Castillo (All Chapters
Y
Download link at the
end of this file)
,MEDSTUDY.COM
CHAPTER 1
INTRODUCTION TO STATISTICS
TRUE-FALSE STATEMENTS
1. Virtually all areas of business use statistics in decision making.
Answer: True
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
M
Blooms: Knowledge
AACSB: Analytic
ED
2. The complete collection of all entities under study is called the sample.
Answer: False
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
ST
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
U
3. A portion or subset of the entities under study is called the statistic.
Answer: False
D
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
Y
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
4. A descriptive measure of the population is called a parameter.
Answer: True
Difficulty: Easy
, Introduction to Statistics 1-2
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
5. A census is the process of gathering data on all the entities in the population.
Answer: True
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
M
AACSB: Analytic
6. Statistics is commonly divided into two branches called descriptive statistics and summary
ED
statistics.
Answer: False
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
ST
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
U
7. Statistics is commonly divided into two branches called descriptive statistics and inferential
statistics.
D
Answer: True
Difficulty: Easy
Y
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
8. A descriptive measure of the sample is called a statistic.
Answer: True
Difficulty: Easy
, 1-3 Test Bank for Business Statistics, Third Canadian Edition
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
9. Gathering data from a sample to reach conclusions about the population from which the
sample was drawn is called descriptive statistics.
Answer: False
Difficulty: Medium
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
M
Blooms: Knowledge
AACSB: Analytic
ED
10. Gathering data from a sample to reach conclusions about the population from which the
sample was drawn is called inferential statistics.
Answer: True
Difficulty: Medium
ST
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
U
11. The basis for inferential statistics is the ability to make decisions about population
parameters without having to complete a census of the population.
D
Answer: True
Difficulty: Easy
Y
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
12. All numerical data must be analyzed statistically in the same way because all of them are
represented by numbers.
Answer: False
Test Bank for
Business Statistics
For Contemporary
M
Decision Making, 3rd
ED
Canadian Edition, 3e
Ken Black, Tiffany
ST
Bayley, Ignacio
U
D
Castillo (All Chapters
Y
Download link at the
end of this file)
,MEDSTUDY.COM
CHAPTER 1
INTRODUCTION TO STATISTICS
TRUE-FALSE STATEMENTS
1. Virtually all areas of business use statistics in decision making.
Answer: True
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
M
Blooms: Knowledge
AACSB: Analytic
ED
2. The complete collection of all entities under study is called the sample.
Answer: False
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
ST
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
U
3. A portion or subset of the entities under study is called the statistic.
Answer: False
D
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
Y
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
4. A descriptive measure of the population is called a parameter.
Answer: True
Difficulty: Easy
, Introduction to Statistics 1-2
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
5. A census is the process of gathering data on all the entities in the population.
Answer: True
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
M
AACSB: Analytic
6. Statistics is commonly divided into two branches called descriptive statistics and summary
ED
statistics.
Answer: False
Difficulty: Easy
Learning Objective: Define important statistical terms, including population, sample, and
ST
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
U
7. Statistics is commonly divided into two branches called descriptive statistics and inferential
statistics.
D
Answer: True
Difficulty: Easy
Y
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
8. A descriptive measure of the sample is called a statistic.
Answer: True
Difficulty: Easy
, 1-3 Test Bank for Business Statistics, Third Canadian Edition
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
9. Gathering data from a sample to reach conclusions about the population from which the
sample was drawn is called descriptive statistics.
Answer: False
Difficulty: Medium
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
M
Blooms: Knowledge
AACSB: Analytic
ED
10. Gathering data from a sample to reach conclusions about the population from which the
sample was drawn is called inferential statistics.
Answer: True
Difficulty: Medium
ST
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
U
11. The basis for inferential statistics is the ability to make decisions about population
parameters without having to complete a census of the population.
D
Answer: True
Difficulty: Easy
Y
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
12. All numerical data must be analyzed statistically in the same way because all of them are
represented by numbers.
Answer: False
