BAN 280 Chapter 1: Key Concepts and Summary
A measurement from a population is a ..... and measurement from a sample is a.... - correct answer
✔✔parameter, statistic
In statistical analysis, descriptive statistics is used to - correct answer ✔✔describe the characteristics of a
population, make better management decisions, observe patterns in data
A study of all the units in a population is a - correct answer ✔✔census
if the student in one BAN 280 class are used as a sample to represent the university student body -
correct answer ✔✔the sample would not be representative of the population and the sample would be
convenient
A TV station that gets data from a local weather station that measure inches of rainfall is using - correct
answer ✔✔secondary data
A financial research firm which get data from a 20 year financial history of a firm and compares years is
using - correct answer ✔✔time series data
which of the following situations is an example of a qualitative variable - correct answer ✔✔a yes or no
answer to a question
which of the following is an example of a quantitative variable - correct answer ✔✔the number of
students in a room
identify the example of a continuous variable - correct answer ✔✔the temperature of the sand at the
beach each day
identify the example of a discrete variable - correct answer ✔✔the number of bushels of tobacco
harvested on a farm
A measurement from a population is a ..... and measurement from a sample is a.... - correct answer
✔✔parameter, statistic
In statistical analysis, descriptive statistics is used to - correct answer ✔✔describe the characteristics of a
population, make better management decisions, observe patterns in data
A study of all the units in a population is a - correct answer ✔✔census
if the student in one BAN 280 class are used as a sample to represent the university student body -
correct answer ✔✔the sample would not be representative of the population and the sample would be
convenient
A TV station that gets data from a local weather station that measure inches of rainfall is using - correct
answer ✔✔secondary data
A financial research firm which get data from a 20 year financial history of a firm and compares years is
using - correct answer ✔✔time series data
which of the following situations is an example of a qualitative variable - correct answer ✔✔a yes or no
answer to a question
which of the following is an example of a quantitative variable - correct answer ✔✔the number of
students in a room
identify the example of a continuous variable - correct answer ✔✔the temperature of the sand at the
beach each day
identify the example of a discrete variable - correct answer ✔✔the number of bushels of tobacco
harvested on a farm
