BUSINESS STATISTICS FINAL
REVIEW QUESTIONS WITH 100%
CORRECT ANSWERS
Statistics is an art and technique for Systematically : - - E All of the above: Recording
data, analyzing data, interpreting data, and collecting data.
Facts And figures that are collected, analyzed, and summarized for presentation and
interpretation are: - -Data.
The entities on which data are collected are: - -Elements.
A characteristic of interest for the elements is called a(n): - -Variable.
The number of observations (data points) in a complete data set having 10 elements
and 5 variables is: - d.50 - 10 times 5=50.
Primary data can be described as: - Data that is gathered by the researcher firsthand
specifically for the research project at hand.
Data collected at the same time, or approximately the same, point in time are: - Cross-
Sectional Data.
Data-collected over several time periods are: - -time series data.
______________ is an example of an existing source of data. - - U.S Census Bureau.
The summaries of data, which may be tabular, graphical, or numerical, are referred to
as: - -Descriptive Statistics.
Statistical Inference- - -Is the process of drawing inferences about the population based
on the information taken from the sample.
the collection of all elements of interest in a particular study is: - - the population.
A portion of the population selected to represent the population is called: - - A sample.
statistical studies in which researches control variables of interest are: - Experimental
Studies.
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