BUSINESS STATISTICS EXAMINATION QUESTIONS AND
CORRECT ANSWER WITH EXPLANATION GRADED A+
STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY
1. Business statistics is the science of:
A. Collecting, analyzing, and interpreting data
B. Only accounting
C. Only marketing
D. Only finance
Answer: A
Rationale: It focuses on data-driven decision making.
2. Data refers to:
A. Raw facts and figures
B. Final decisions
C. Reports only
D. Conclusions only
Answer: A
Rationale: Data is unprocessed information.
3. Descriptive statistics is used to:
A. Summarize data
B. Predict future events
C. Test hypotheses
D. Ignore data
Answer: A
Rationale: It describes data features.
4. Inferential statistics is used to:
A. Make predictions about a population
B. Collect raw data only
C. Ignore sampling
D. Organize files
Answer: A
Rationale: It draws conclusions from samples.
5. Population in statistics means:
A. Entire group of interest
, B. Sample only
C. Random selection
D. Data entry
Answer: A
Rationale: Full set of elements.
6. A sample is:
A. Subset of a population
B. Entire population
C. A formula
D. A graph
Answer: A
Rationale: Smaller representative group.
7. Variable is:
A. A characteristic that can change
B. Fixed constant
C. Data error
D. Chart type
Answer: A
Rationale: Measurable attribute.
8. Qualitative data is:
A. Non-numerical data
B. Numerical data
C. Always continuous
D. Always discrete
Answer: A
Rationale: Descriptive categories.
9. Quantitative data is:
A. Numerical data
B. Non-numerical data
C. Text only
D. Images only
Answer: A
Rationale: Measurable numbers.
10. Discrete data is:
A. Countable values
, B. Continuous values
C. Random text
D. Categories only
Answer: A
Rationale: Whole number counts.
11. Continuous data is:
A. Measured data
B. Counted data
C. Text data
D. Binary only
Answer: A
Rationale: Can take any value in range.
12. Frequency refers to:
A. Number of occurrences
B. Mean value
C. Median value
D. Variance
Answer: A
Rationale: Count of data points.
13. Mean is:
A. Average of values
B. Middle value
C. Most frequent value
D. Range
Answer: A
Rationale: Sum divided by count.
14. Median is:
A. Middle value in ordered data
B. Average
C. Mode
D. Range
Answer: A
Rationale: Central position value.
15. Mode is:
A. Most frequent value
CORRECT ANSWER WITH EXPLANATION GRADED A+
STUDY GUIDE SOUTHERN NEW HAMPSHIRE UNIVERSITY
1. Business statistics is the science of:
A. Collecting, analyzing, and interpreting data
B. Only accounting
C. Only marketing
D. Only finance
Answer: A
Rationale: It focuses on data-driven decision making.
2. Data refers to:
A. Raw facts and figures
B. Final decisions
C. Reports only
D. Conclusions only
Answer: A
Rationale: Data is unprocessed information.
3. Descriptive statistics is used to:
A. Summarize data
B. Predict future events
C. Test hypotheses
D. Ignore data
Answer: A
Rationale: It describes data features.
4. Inferential statistics is used to:
A. Make predictions about a population
B. Collect raw data only
C. Ignore sampling
D. Organize files
Answer: A
Rationale: It draws conclusions from samples.
5. Population in statistics means:
A. Entire group of interest
, B. Sample only
C. Random selection
D. Data entry
Answer: A
Rationale: Full set of elements.
6. A sample is:
A. Subset of a population
B. Entire population
C. A formula
D. A graph
Answer: A
Rationale: Smaller representative group.
7. Variable is:
A. A characteristic that can change
B. Fixed constant
C. Data error
D. Chart type
Answer: A
Rationale: Measurable attribute.
8. Qualitative data is:
A. Non-numerical data
B. Numerical data
C. Always continuous
D. Always discrete
Answer: A
Rationale: Descriptive categories.
9. Quantitative data is:
A. Numerical data
B. Non-numerical data
C. Text only
D. Images only
Answer: A
Rationale: Measurable numbers.
10. Discrete data is:
A. Countable values
, B. Continuous values
C. Random text
D. Categories only
Answer: A
Rationale: Whole number counts.
11. Continuous data is:
A. Measured data
B. Counted data
C. Text data
D. Binary only
Answer: A
Rationale: Can take any value in range.
12. Frequency refers to:
A. Number of occurrences
B. Mean value
C. Median value
D. Variance
Answer: A
Rationale: Count of data points.
13. Mean is:
A. Average of values
B. Middle value
C. Most frequent value
D. Range
Answer: A
Rationale: Sum divided by count.
14. Median is:
A. Middle value in ordered data
B. Average
C. Mode
D. Range
Answer: A
Rationale: Central position value.
15. Mode is:
A. Most frequent value
