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Statistics

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## Quiz 1 : Introduction to Statistics and Business Analytics

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

False

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

False

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

False

A portion or subset of the entities under study is called the statistic.
True False
A descriptive measure of the sample is called a statistic.
True False
Statistics is commonly divided into two branches called descriptive statistics and summary statistics.
True False
A variable can take on different values.
True False
Measurements occur when a standard process is used to assign numbers to attributes or characteristics of a variable.
True False
Variables and measurement data are interchangeable terms.
True False
A census is the process of gathering data on all the entities in the population.
True False
One piece of data includes a variety of variables.
True False
Statistics are used to market vitamins.
True False
Gathering data from a sample to reach conclusions about the population from which the sample was drawn is called descriptive statistics.
True False
A variable is a numerical description of each of the possible outcomes of an experiment.
True False
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
Virtually all areas of business use statistics in decision making.
True False
A descriptive measure of the population is called a parameter.
True False
Statistics can be used to predict business in the future.
True False
Calculation of population parameters is usually either impossible or excessively time consuming and costly.
True False
A graph of purchases made from one store location would be an example of statistics within a business context.
True False