Question 1

Which statement is correct?
A)Analysts avoid business periodicals (e.g. ,Bloomberg Businessweek).
B)Web searches (e.g. ,Google)yield reliable and easily verified data.
C)Government data sources (e.g. ,www.bls.gov)usually are free.
D)Private statistical databases (e.g. ,CRSP)usually are free.

Accepted Answer

The statement "Government data sources (e.g. ,www.bls.gov)usually are free" is correct. Analysts often rely on government data sources such as the Bureau of Labor Statistics (BLS) for reliable and comprehensive data. However, private statistical databases like the CRSP are not usually free, and web searches may not always yield reliable or easily verified data. Additionally, analysts would not avoid business periodicals altogether as they often contain valuable industry news and analysis.

Question 2

A reliable survey is one that
A)is administered by trusted employees.
B)has been approved by quality engineers.
C)gives consistent measurements.
D)has many easy questions.

Accepted Answer

The answer of A reliable survey is one that
A)is administered...

Question 3

What kind of sampling method would you suggest in order to tabulate the number of formulas on a typical page of the Doane-Seward textbook? Defend your choice.

Accepted Answer

The answer of What kind of sampling method would you...

Question 4

A valid survey is one that
A)measures what the researcher wants to measure.
B)has been approved by top management.
C)is administered by a professional statistician.
D)has a large number of questions.

Accepted Answer

A valid survey is one that accurately measures what the researcher wants to measure. The other options do not necessarily determine the validity of a survey.

Question 5

Explain the concept of a focus group.In what ways does a focus group resemble a survey? Why is a moderator desirable? What else is required to make a successful focus group?

Accepted Answer

The answer of Explain the concept of a focus group.In...

Question 6

How would you design a study to see whether drivers using hands-free cell phones are distracted enough to slow their reactions to emergency situations? How would you collect data?

Accepted Answer

The answer of How would you design a study to...

Question 7

A Likert scale with an even number of scale points between "Strongly Agree" and "Strongly Disagree"
A)cannot have equal scale distances.
B)is intended to prevent "neutral" choices.
C)must have a verbal label on each scale point.
D)is rarely used in surveys.

Accepted Answer

An even-numbered Likert scale is designed to prevent respondents from choosing a neutral option, forcing them to lean towards either agreement or disagreement to gain clearer insights into their opinions.

Question 8

A section of the population we have targeted for analysis is
A)a statistic.
B)a frame.
C)a sample.
D)a coven.

Accepted Answer

The answer of A section of the population we have...

Question 9

Which is not a time series variable?
A)Closing checkbook balances of 30 students on December 31 of this year
B)Net earnings reported by Xena Corp.for the last 10 quarters
C)Dollar/euro exchange rates at 12 noon GMT for the last 30 days
D)Movie attendance at a certain theater for each Saturday last year

Accepted Answer

Closing checkbook balances of 30 students on December 31 of this year is not a time series variable because it only captures a snapshot of data at a specific point in time, rather than a continuous and sequential set of data over time. The other options involve data collected over a period of time, making them time series variables.

Question 10

Which statement is correct?
A)Analysts rarely consult business periodicals (e.g. ,Bloomberg Businessweek).
B)Web searches (e.g. ,Google)often yield unverifiable data.
C)Government data sources (e.g. ,www.bls.gov)are often costly.
D)Private statistical databases (e.g. ,CRSP)are usually free.

Accepted Answer

Web searches often yield unverifiable data because anyone can publish anything online, and it can be difficult to determine the credibility of the source. The other options are incorrect. Analysts often consult business periodicals for information, government data sources are often free, and private statistical databases are usually costly.

Question 11

A good Likert scale may not have
A)unequal distances between scale points.
B)an odd number of scale points.
C)a verbal label on each scale point.
D)verbal anchors at its end points.

Accepted Answer

A Likert scale with unequal distances between scale points can lead to misleading results and should be avoided. It is important that the scale points have equal distances to ensure the reliability of the data collected. The other options listed (B, C, and D) are not necessarily problematic for a good Likert scale. An odd number of scale points can be used to force participants to choose a definite answer and not allow them to select a neutral point, verbal labels on scale points provide clarity, and verbal anchors at endpoints provide clear understanding of the meaning of the responses.

Question 12

A Likert scale with an odd number of scale points between "Strongly Agree" and "Strongly Disagree"
A)cannot have equal scale distances.
B)cannot have a neutral middle point.
C)must have a verbal label on each scale point.
D)is often used in marketing surveys.

Accepted Answer

The answer of A Likert scale with an odd number...

Question 13

Which survey method would you recommend to survey opinions of airline passengers about the cleanliness of the restrooms in the Detroit airport? Why not the others?

Accepted Answer

The answer of Which survey method would you recommend to...

Quiz 2: Data Collection

Which statement is correct?

A reliable survey is one that

What kind of sampling method would you suggest in order to tabulate the number of formulas on a typical page of the Doane-Seward textbook? Defend your choice.

A valid survey is one that

Explain the concept of a focus group.In what ways does a focus group resemble a survey? Why is a moderator desirable? What else is required to make a successful focus group?

How would you design a study to see whether drivers using hands-free cell phones are distracted enough to slow their reactions to emergency situations? How would you collect data?

A Likert scale with an even number of scale points between "Strongly Agree" and "Strongly Disagree"

A section of the population we have targeted for analysis is

Which is not a time series variable?

Which statement is correct?

A good Likert scale may not have

A Likert scale with an odd number of scale points between "Strongly Agree" and "Strongly Disagree"

Which survey method would you recommend to survey opinions of airline passengers about the cleanliness of the restrooms in the Detroit airport? Why not the others?