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Business Statistics

Statistics

Quiz 1 :

Introduction to Statistics and Business Analytics

Quiz 1 :

Introduction to Statistics and Business Analytics

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The complete collection of all entities under study is called the sample.
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True False
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Answer:

False

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All numerical data must be analyzed statistically in the same way because all of them are represented by numbers.
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True False
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Answer:

False

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A list of final grades in an introductory class in business is an example of statistics
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True False
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False

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A portion or subset of the entities under study is called the statistic.
True False
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A descriptive measure of the sample is called a statistic.
True False
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Statistics is commonly divided into two branches called descriptive statistics and summary statistics.
True False
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A variable can take on different values.
True False
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Measurements occur when a standard process is used to assign numbers to attributes or characteristics of a variable.
True False
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Variables and measurement data are interchangeable terms.
True False
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A census is the process of gathering data on all the entities in the population.
True False
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One piece of data includes a variety of variables.
True False
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Statistics are used to market vitamins.
True False
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Gathering data from a sample to reach conclusions about the population from which the sample was drawn is called descriptive statistics.
True False
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A variable is a numerical description of each of the possible outcomes of an experiment.
True False
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The basis for inferential statistics is the ability to make decisions about population parameters without having to complete a census of the population.
True False
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Virtually all areas of business use statistics in decision making.
True False
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A descriptive measure of the population is called a parameter.
True False
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Statistics can be used to predict business in the future.
True False
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Calculation of population parameters is usually either impossible or excessively time consuming and costly.
True False
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A graph of purchases made from one store location would be an example of statistics within a business context.
True False
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