QMB 3200 EXAM 1 QUESTIONS &
ANSWERS
Using income data to determine the credit worthiness of a consumer who wishes to
purchase a new car is an example of using statistics in the field of - Correct Answers -
finance
A respondent of a survey is asked whether their most recent dining experience was
excellent, good, fair, or poor. The person indicates that the experience was "good". This
is an example of ________ data. - Correct Answers -ordinal
The Graduate Management Admission Test (GMAT) is a standardized test used by
schools to determine the aptitude of individuals who are applying for MBA programs.
The range of the GMAT score is 200-800. Brian has recently taken the exam and
scored 720. This is an example of ________ data. - Correct Answers -interval
The table above shows the number of bagels sold at the Avalon Coffee and Bagel over
the past seven days.
Which of the following data types best describe these values? - Correct Answers -time
series
A ________ is a portion of a population that is representative of the population from
which it is selected. - Correct Answers -sample
General Mills is considering offering a new type of yogurt. To gauge interest, they are
performing taste tests at different locations around the country. Based on the results of
these samples, they will decide whether or not to market the new yogurt. This is an
example of using ________. - Correct Answers -inferential statistics
A ________ represents all possible subjects of interest. - Correct Answers -population
Gathering information from potential customers in an effort to determine their
preferences is an example of using statistics in the field of - Correct Answers -marketing
research
Which levels of measurement are considered quantitative data? - Correct Answers -
interval and ratio
ANSWERS
Using income data to determine the credit worthiness of a consumer who wishes to
purchase a new car is an example of using statistics in the field of - Correct Answers -
finance
A respondent of a survey is asked whether their most recent dining experience was
excellent, good, fair, or poor. The person indicates that the experience was "good". This
is an example of ________ data. - Correct Answers -ordinal
The Graduate Management Admission Test (GMAT) is a standardized test used by
schools to determine the aptitude of individuals who are applying for MBA programs.
The range of the GMAT score is 200-800. Brian has recently taken the exam and
scored 720. This is an example of ________ data. - Correct Answers -interval
The table above shows the number of bagels sold at the Avalon Coffee and Bagel over
the past seven days.
Which of the following data types best describe these values? - Correct Answers -time
series
A ________ is a portion of a population that is representative of the population from
which it is selected. - Correct Answers -sample
General Mills is considering offering a new type of yogurt. To gauge interest, they are
performing taste tests at different locations around the country. Based on the results of
these samples, they will decide whether or not to market the new yogurt. This is an
example of using ________. - Correct Answers -inferential statistics
A ________ represents all possible subjects of interest. - Correct Answers -population
Gathering information from potential customers in an effort to determine their
preferences is an example of using statistics in the field of - Correct Answers -marketing
research
Which levels of measurement are considered quantitative data? - Correct Answers -
interval and ratio
