Straighterline Business Stats Questions With Complete Solutions.

A marketing class of 50 students evaluated the instructor using the following scale: superior, good, average, poor, and inferior. The descriptive summary showed the following survey results: 2% superior, 8% good, 45% average, 45% poor, and 0% inferior. correct answer: Most students rated the instructor as poor or average. The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called ____________. correct answer: Statistics The main purpose of descriptive statistics is to: correct answer: Summarize data in a useful and informative manner. An example of a qualitative variable is _________________. correct answer: Color of ink in a pen The reported unemployment is 5.5% of the population. What measurement scale is used to measure unemployment? correct answer: interval or ratio What level of measurement is the Centigrade temperature scale? correct answer: interval A group of women tried five brands of fingernail polish and ranked them according to preference. What level of measurement is this? correct answer: ordinal The incomes of 50 loan applicants are obtained. Which level of measurement is income? correct answer: ratio The members of each basketball team wear numbers on their jerseys. What scale of measurement are these numbers considered? correct answer: nominal Respondents were asked, "Do you now earn more than or less than you did five years ago?" What is this level of measurement? correct answer: ordinal