Accredited Test Bank Solution For
Modern Business Statistics with
Microsoft® Excel®, 7th Edition Anderson
[All Lessons Included]
Complete Chapter Solution Manual
are Included (Ch.1 to Ch.22)
• Rapid Download
• Quick Turnaround
• Complete Chapters Provided
, Table of Contents are Given Below
"Modern Business Statistics with Microsoft® Excel®" (7th Edition) by David R. Anderson, Dennis J. Sweeney,
Thomas A. Williams, Jeffrey D. Camm, James J. Cochran, Michael J. Fry, and Jeffrey W. Ohlmann is structured
into several chapters, each focusing on key aspects of business statistics and their application using Microsoft
Excel. The chapters are organized as follows:
1. Data and Statistics
2. Descriptive Statistics: Tabular and Graphical Displays
3. Descriptive Statistics: Numerical Measures
4. Introduction to Probability
5. Discrete Probability Distributions
6. Continuous Probability Distributions
7. Sampling and Sampling Distributions
8. Interval Estimation
9. Hypothesis Tests
10. Statistical Inferences About Means and Proportions with Two Populations
11. Inferences About Population Variances
12. Comparing Multiple Proportions, Test of Independence and Goodness of Fit
13. Experimental Design and Analysis of Variance
14. Simple Linear Regression
15. Multiple Regression
16. Regression Analysis: Model Building
17. Time Series Analysis and Forecasting
18. Nonparametric Methods
19. Statistical Methods for Quality Control
20. Decision Analysis (online)
21. Sample Survey (online)
Additionally, the textbook includes several appendices to support learning:
PAGE 1
, • Appendix A: References and Bibliography
• Appendix B: Tables
• Appendix C: Summation Notation
• Appendix D: Self-Test Solutions and Answers to Even-Numbered Exercises (online)
• Appendix E: Microsoft Excel 2016 and Tools for Statistical Analysis
This comprehensive structure provides readers with an in-depth understanding of business statistics,
emphasizing both theoretical frameworks and practical applications using Microsoft Excel.
1. Data and Statistics
1. Which of the following best defines 'data' in statistics?
o A) Summarized information
o B) Raw facts and figures
o C) Graphical representations
o D) Statistical analyses
o Answer: B) Raw facts and figures
o Explanation: Data refers to raw, unprocessed facts and figures collected for analysis.
2. What is the primary purpose of statistics in business?
o A) To collect data
o B) To create reports
o C) To make informed decisions
o D) To perform audits
o Answer: C) To make informed decisions
o Explanation: Statistics provide tools and methods to analyze data, enabling informed business
decisions.
3. Which level of measurement is characterized by data that can be ordered but not quantified?
o A) Nominal
o B) Ordinal
o C) Interval
o D) Ratio
o Answer: B) Ordinal
o Explanation: Ordinal data can be ranked or ordered but do not have consistent intervals.
4. In statistics, what is a 'population'?
o A) A subset of data
o B) All members of a defined group
o C) A sample group
o D) The mean of data
o Answer: B) All members of a defined group
o Explanation: A population includes all individuals or items that meet certain criteria for a study.
5. Which term describes a characteristic measured in a sample or population?
o A) Variable
o B) Parameter
o C) Statistic
o D) Data point
o Answer: A) Variable
PAGE 2
, o Explanation: A variable is a characteristic that can take on different values among subjects.
6. What distinguishes a sample from a population?
o A) A sample is larger
o B) A sample is a subset of the population
o C) A sample includes all data points
o D) A sample is not used in statistics
o Answer: B) A sample is a subset of the population
o Explanation: A sample represents a portion of the population used for analysis.
7. Which of the following is an example of qualitative data?
o A) Revenue figures
o B) Customer satisfaction ratings
o C) Number of employees
o D) Temperature readings
o Answer: B) Customer satisfaction ratings
o Explanation: Qualitative data describes qualities or characteristics, such as satisfaction levels.
8. What is the 'mode' of a data set?
o A) The middle value
o B) The average value
o C) The most frequently occurring value
o D) The range of values
o Answer: C) The most frequently occurring value
o Explanation: The mode is the value that appears most often in a data set.
9. In a normal distribution, what percentage of data falls within one standard deviation of the mean?
o A) Approximately 50%
o B) Approximately 68%
o C) Approximately 95%
o D) Approximately 99.7%
o Answer: B) Approximately 68%
o Explanation: In a normal distribution, about 68% of data lies within one standard deviation from
the mean.
10. Which of the following best describes 'descriptive statistics'?
o A) Making predictions based on data
o B) Summarizing and organizing data
o C) Determining causality
o D) Testing hypotheses
o Answer: B) Summarizing and organizing data
o Explanation: Descriptive statistics involve methods for summarizing and describing features of a
data set.
2. Descriptive Statistics: Tabular and Graphical Displays
11. Which table displays the frequency of each category in a data set?
o A) Histogram
o B) Frequency distribution table
o C) Box plot
o D) Scatter plot
o Answer: B) Frequency distribution table
o Explanation: A frequency distribution table lists each category and the number of occurrences.
12. What type of graph is best suited for showing the distribution of a single quantitative variable?
PAGE 3
Modern Business Statistics with
Microsoft® Excel®, 7th Edition Anderson
[All Lessons Included]
Complete Chapter Solution Manual
are Included (Ch.1 to Ch.22)
• Rapid Download
• Quick Turnaround
• Complete Chapters Provided
, Table of Contents are Given Below
"Modern Business Statistics with Microsoft® Excel®" (7th Edition) by David R. Anderson, Dennis J. Sweeney,
Thomas A. Williams, Jeffrey D. Camm, James J. Cochran, Michael J. Fry, and Jeffrey W. Ohlmann is structured
into several chapters, each focusing on key aspects of business statistics and their application using Microsoft
Excel. The chapters are organized as follows:
1. Data and Statistics
2. Descriptive Statistics: Tabular and Graphical Displays
3. Descriptive Statistics: Numerical Measures
4. Introduction to Probability
5. Discrete Probability Distributions
6. Continuous Probability Distributions
7. Sampling and Sampling Distributions
8. Interval Estimation
9. Hypothesis Tests
10. Statistical Inferences About Means and Proportions with Two Populations
11. Inferences About Population Variances
12. Comparing Multiple Proportions, Test of Independence and Goodness of Fit
13. Experimental Design and Analysis of Variance
14. Simple Linear Regression
15. Multiple Regression
16. Regression Analysis: Model Building
17. Time Series Analysis and Forecasting
18. Nonparametric Methods
19. Statistical Methods for Quality Control
20. Decision Analysis (online)
21. Sample Survey (online)
Additionally, the textbook includes several appendices to support learning:
PAGE 1
, • Appendix A: References and Bibliography
• Appendix B: Tables
• Appendix C: Summation Notation
• Appendix D: Self-Test Solutions and Answers to Even-Numbered Exercises (online)
• Appendix E: Microsoft Excel 2016 and Tools for Statistical Analysis
This comprehensive structure provides readers with an in-depth understanding of business statistics,
emphasizing both theoretical frameworks and practical applications using Microsoft Excel.
1. Data and Statistics
1. Which of the following best defines 'data' in statistics?
o A) Summarized information
o B) Raw facts and figures
o C) Graphical representations
o D) Statistical analyses
o Answer: B) Raw facts and figures
o Explanation: Data refers to raw, unprocessed facts and figures collected for analysis.
2. What is the primary purpose of statistics in business?
o A) To collect data
o B) To create reports
o C) To make informed decisions
o D) To perform audits
o Answer: C) To make informed decisions
o Explanation: Statistics provide tools and methods to analyze data, enabling informed business
decisions.
3. Which level of measurement is characterized by data that can be ordered but not quantified?
o A) Nominal
o B) Ordinal
o C) Interval
o D) Ratio
o Answer: B) Ordinal
o Explanation: Ordinal data can be ranked or ordered but do not have consistent intervals.
4. In statistics, what is a 'population'?
o A) A subset of data
o B) All members of a defined group
o C) A sample group
o D) The mean of data
o Answer: B) All members of a defined group
o Explanation: A population includes all individuals or items that meet certain criteria for a study.
5. Which term describes a characteristic measured in a sample or population?
o A) Variable
o B) Parameter
o C) Statistic
o D) Data point
o Answer: A) Variable
PAGE 2
, o Explanation: A variable is a characteristic that can take on different values among subjects.
6. What distinguishes a sample from a population?
o A) A sample is larger
o B) A sample is a subset of the population
o C) A sample includes all data points
o D) A sample is not used in statistics
o Answer: B) A sample is a subset of the population
o Explanation: A sample represents a portion of the population used for analysis.
7. Which of the following is an example of qualitative data?
o A) Revenue figures
o B) Customer satisfaction ratings
o C) Number of employees
o D) Temperature readings
o Answer: B) Customer satisfaction ratings
o Explanation: Qualitative data describes qualities or characteristics, such as satisfaction levels.
8. What is the 'mode' of a data set?
o A) The middle value
o B) The average value
o C) The most frequently occurring value
o D) The range of values
o Answer: C) The most frequently occurring value
o Explanation: The mode is the value that appears most often in a data set.
9. In a normal distribution, what percentage of data falls within one standard deviation of the mean?
o A) Approximately 50%
o B) Approximately 68%
o C) Approximately 95%
o D) Approximately 99.7%
o Answer: B) Approximately 68%
o Explanation: In a normal distribution, about 68% of data lies within one standard deviation from
the mean.
10. Which of the following best describes 'descriptive statistics'?
o A) Making predictions based on data
o B) Summarizing and organizing data
o C) Determining causality
o D) Testing hypotheses
o Answer: B) Summarizing and organizing data
o Explanation: Descriptive statistics involve methods for summarizing and describing features of a
data set.
2. Descriptive Statistics: Tabular and Graphical Displays
11. Which table displays the frequency of each category in a data set?
o A) Histogram
o B) Frequency distribution table
o C) Box plot
o D) Scatter plot
o Answer: B) Frequency distribution table
o Explanation: A frequency distribution table lists each category and the number of occurrences.
12. What type of graph is best suited for showing the distribution of a single quantitative variable?
PAGE 3
