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Statistics for Management and Economics Abbreviated 10th Edition by Gerald Keller - Test Bank
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Test Bank For Statistics for Management and Economics Abbreviated 10th Edition by Gerald Keller Complete Test Bank
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,CHAPTER 1: WHAT IS STATISTICS?TRUE/FALSE
1. The significance level measures the proportion of the time an inference about a population will be
correct in the long run.
ANS: F PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
2. A descriptive measure that is computed from a sample is called a statistic.
ANS: T PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
3. The confidence level is the proportion of times that an estimating procedure will be wrong in the long
run.
ANS: F PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
4. A resort employs 3,500 managers and staff. To ascertain their employees' opinions of a proposed
health insurance plan, 350 employees are surveyed at random. The proportion of the 350 employees
who favor the health insurance plan represents a parameter in this scenario.
ANS: F PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Comprehension
5. In a sample of 350 students selected from a large college of business, 25% are found to be marketing
majors. The 25% is a statistic.
ANS: T PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Comprehension
6. 35% of a sample of 300 professional baseball players indicated that their parents did not play baseball.
Based on this sample, we estimate that approximately 35% of the parents of all professional baseball
players did not play baseball, plus or minus 5%. This is an example of using inferential statistics.
ANS: T PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Comprehension
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
, 7. A population is the group of all items of interest to a statistics practitioner.
ANS: T PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
8. A statistic is typically a known quantity while a parameter is typically an unknown quantity.
ANS: T PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Comprehension
9. Statistical inference is the process of making an estimate, prediction, or decision about a population
based on sample data.
ANS: T PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
10. A descriptive measure of a population is called a parameter.
ANS: T PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
11. A descriptive measure of a sample is called a parameter.
ANS: F PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
12. You take a random sample to estimate a population mean and your results have a confidence level of
80%. That means the process you used will give you correct results 80% of the time.
ANS: T PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.06 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Comprehension
MULTIPLE CHOICE
1. A random sample of 100 students is taken at LearnAll University and it’s found that their average GPA
is 3.1. If this information is used to help estimate the average GPA for all students at LearnAll
University, which branch of statistics was applied?
a. Descriptive statistics c. Sample statistics
b. Inferential statistics d. Population statistics
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
, ANS: B PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Comprehension
2. A company has developed a new computer microprocessor whose average lifetime is unknown. In
order to estimate this average, 300 microprocessors are randomly selected from a large production line
and tested; their average lifetime is found to be 7 years. The 300 microprocessors represent a:
a. parameter. c. sample.
b. statistic. d. population.
ANS: C PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Comprehension
3. A company has developed a new engine whose average lifetime is unknown. In order to estimate this
average, 100 engines are randomly selected from a large production line and tested; their average
lifetime is found to be 11 years. The 11 years represents a:
a. parameter. c. sample.
b. statistic. d. population.
ANS: B PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Comprehension
4. A descriptive measure that is computed from a sample is called a:
a. parameter. c. population.
b. statistic. d. sample.
ANS: B PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
5. A descriptive measure that is computed from a population is called a:
a. sample. c. population.
b. statistic. d. parameter.
ANS: D PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
6. Which of the following is a measure of the reliability of a statistical inference?
a. A population parameter. c. A descriptive statistic.
b. A significance level. d. A sample statistic.
ANS: B PTS: 1 DIF: Easy OBJ: SFME.KELL.15.01.01
NAT: BUSPROG.SFME.KELL.15.03 STA: DISC.SFME.KELL.15.01
KEY: Bloom's: Knowledge
© 2016 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted
in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use.
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