Applied Statistics in Business and Economics 6th Edition by David Doane __Comprehensive Test Bank |ISBN: 9781259957598| Guide A+

TEST BANK
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Applied Statistics Business Economics, 6th Edition

David P. Doane
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, Table of Contents
1. Overview of Statistics
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2. Data Collection
3. Describing Data Visually
4. Descriptive Statistics
5. Probability
6. Discrete Probability Distributions
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7. Continuous Probability Distributions
8. Sampling Distributions and Estimation
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9. One-Sample Hypothesis Tests
10. Two-Sample Hypothesis Tests
11. Analysis of Variance
12. Simple Regression
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13. Multiple Regression
14. Time-Series Analysis
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15. Chi-Square Tests
16. Nonparametric Tests
17. Quality Management
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, Applied Statistics in Business and Economics, 6e (Doane)
Chapter 1 Overview of Statistics
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1) Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.

Answer: TRUE
Explanation: This is one of many good definitions of statistics.
Difficulty: 1 Easy
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Topic: 01.01 What Is Statistics?
Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom's: Remember
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AACSB: Analytical Thinking
Accessibility: Keyboard Navigation

2) Inferential statistics refers to generalizing from a sample to a population, estimating unknown
parameters, drawing conclusions, and making decisions.
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Answer: TRUE
Explanation: We can use statistics either to describe data or to infer something about a
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population.
Difficulty: 1 Easy
Topic: 01.03 Statistics in Business
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Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
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3) Descriptive statistics refers to summarizing data rather than generalizing about the population.

Answer: TRUE
Explanation: When we do not infer, we are only describing the available sample data.
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Difficulty: 1 Easy
Topic: 01.03 Statistics in Business
Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom's: Remember
AACSB: Analytical Thinking
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Accessibility: Keyboard Navigation
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, 4) Estimating parameters and testing hypotheses are important aspects of descriptive statistics.

Answer: FALSE
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Explanation: When we generalize to a population, we are using inferential statistics.
Difficulty: 2 Medium
Topic: 01.03 Statistics in Business
Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom's: Remember
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AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
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5) Inconsistent treatment of data by a researcher is a symptom of poor survey or research design.

Answer: FALSE
Explanation: Good survey data can still be misused or misinterpreted.
Difficulty: 2 Medium
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Topic: 01.05 Critical Thinking
Learning Objective: 01-04 State the common challenges facing business professionals using
statistics.
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Bloom's: Understand
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
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6) Empirical data are collected through observations and/or experiments.

Answer: TRUE
Explanation: Empirical data are contrasted with <i>a priori</i> estimates (e.g., expecting 10
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heads in 20 coin flips).
Difficulty: 2 Medium
Topic: 01.05 Critical Thinking
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Learning Objective: 01-04 State the common challenges facing business professionals using
statistics.
Bloom's: Remember
AACSB: Reflective Thinking
Accessibility: Keyboard Navigation
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7) Business intelligence refers to collecting, storing, accessing, and analyzing data on the
company's operations in order to make better business decisions.
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Answer: TRUE
Explanation: See Wikipedia for similar definitions of business intelligence.
Difficulty: 1 Easy
Topic: 01.03 Statistics in Business
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Learning Objective: 01-01 Define statistics and explain some of its uses.
Bloom's: Remember
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AACSB: Reflective Thinking
Accessibility: Keyboard Navigation