introductory business statistics international edi
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Introductory Business
Introductory Business
Introductory Business
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,Chapter 1: A Preview of Business Statistics
TRUE/FALSE
1. True or False
Regardless of your eventual career destination, whether it is accounting or marketing, finance or
human resource management, you will find statistics relevant to your field.
ANS: T PTS: 1 OBJ: Section 1.1
2. True or False
Business statistics can be described as the collection, summarization, analysis, and reporting of
numerical findings relative to a business decision or situation.
ANS: T PTS: 1 OBJ: Section 1.1
3. True or False
The sole purpose of the U.S. Census Bureau is to simply count how many people live in the United
States.
ANS: F PTS: 1 OBJ: Section 1.2
4. True or False
ATP singles rankings for tennis players rank Rafael Nadal as 2 and Roger Federer as 1. This is an
example of an interval scale.
ANS: F PTS: 1 OBJ: Section 1.4
5. True or False
Quantitative variables usually represent membership in groups or categories.
ANS: F PTS: 1 OBJ: Section 1.4
6. True or False
In inferential statistics, we simply summarize and describe the data we’ve collected.
ANS: F PTS: 1 OBJ: Section 1.3
7. True or False
The population is sometimes referred to as the universe and is the entire set of people or objects of
interest.
, 8. True or False
Prior to making decisions, companies often collect information through a series of steps called the
research process.
ANS: T PTS: 1 OBJ: Section 1.5
9. True or False
Improperly used, statistics can become an effective weapon with which to persuade or manipulate
others into beliefs or behaviors that we would like them to adopt.
ANS: T PTS: 1 OBJ: Section 1.6
10. True or False
Unlike many other pursuits, improper actions in business statistics can sometimes work in your favor.
ANS: T PTS: 1 OBJ: Section 1.6
11. True or False
In the nominal measurement scale numbers represent “greater than” or “less than” measurements, such
as rankings or preferences.
ANS: F PTS: 1 OBJ: Section 1.4
12. True or False
Stating that Wal-Mart’s sales increased 6.2% this quarter when compared to last quarter is an example
of descriptive statistics.
ANS: T PTS: 1 OBJ: Section 1.3
13. True or False
The sample statistic is a characteristic of the sample that the population parameter attempts to estimate.
ANS: F PTS: 1 OBJ: Section 1.7
14. True or False
Six classmates told you their scores on the last statistics exam. Based on this information, you
conclude that the average exam score for the entire class was 82. This is an example of descriptive
statistics.
ANS: F PTS: 1 OBJ: Section 1.3
MULTIPLE CHOICE
1. Which of the following statements involve descriptive statistics as opposed to inferential statistics?
, a. The Alcohol, Tobacco and Firearms Department reported that Houston had 1,791
registered gun dealers in 1997.
b. Based on a survey of 400 magazine readers, the magazine reports that 45% of its readers
prefer double column articles.
c. The FAA samples 500 traffic controllers in order to estimate the percent retiring due to job
stress related illness.
d. Based on a sample of 300 professional tennis players, a tennis magazine reported that 25%
of the parents of all professional tennis players did not play tennis.
e. The admission's office in a southern university samples 200 college students in business in
order to estimate the percentage of business majors who prefer accounting to economics.
ANS: A PTS: 1 OBJ: Section 1.3
2. Which of the following statements involve inferential statistics as opposed to descriptive statistics?
a. A total of 4,785 people voted for Mike Johnson in a local election.
b. The FAA reported there were 200 near misses among airplanes last year.
c. A class of fifty statistics students earned an average grade of 75.5.
d. The city business office reported 40 building permits for new single-family housing units.
e. Based on a sample of 500 subscribers, a local cable system estimates that forty percent of
its subscribers watch a premium channel at least once per day.
ANS: E PTS: 1 OBJ: Section 1.3
3. Which of the following sample statistics is a measure of spread (dispersion)?
a. Sample mean
b. Sample standard deviation
c. Sample median
d. Sample proportion
e. Sample mode
ANS: B PTS: 1 OBJ: Section 1.3
4. A summary measure that is computed using the entire population is called:
a. a parameter
b. a statistic
c. a sample
d. inferential statistics
ANS: A PTS: 1 OBJ: Section 1.3
5. The difference between the highest and lowest values in the sample is known as the sample:
a. mean
b. median
c. range
d. proportion
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