Exam (elaborations)
Statistics for Management And Economics 11th Edition By Keller -Test Bank
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- Statistics for Management
- Institution
- Statistics For Management
Complete Test Bank (with Questions Answers)
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,Name Clas Dat: s: e:
Chapter 01 - 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.
a. True
b. False
ANSWER: False
2. A descriptive measure that is computed from a sample is called a statistic.
a. True
b. False
ANSWER: True
3. The confidence level is the proportion of times that an estimating procedure will be wrong in the long run.
a. True
b. False
ANSWER: False
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.
a. True
b. False
ANSWER: False
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.
a. True
b. False
ANSWER: True
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.
a. True
b. False
ANSWER: True
7. A population is the group of all items of interest to a statistics practitioner.
a. True
b. False
ANSWER: True
8. A statistic is typically a known quantity while a parameter is typically an unknown quantity.
a. True
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,Name Clas Dat
: s: e:
Chapter 01 - What is Statistics?
b. False
ANSWER: True
9. Statistical inference is the process of making an estimate, prediction, or decision about a population based on sample
data.
a. True
b. False
ANSWER: True
10. A descriptive measure of a population is called a parameter.
a. True
b. False
ANSWER: True
11. A descriptive measure of a sample is called a parameter.
a. True
b. False
ANSWER: False
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.
a. True
b. False
ANSWER: True
Multiple Choice
13. 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 b. Inferential statistics
c. Sample statistics d. Population statistics
ANSWER: b
14. 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. b. statistic.
c. sample. d. population.
ANSWER: c
15. 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. b. statistic.
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, Name Clas Dat
: s: e:
Chapter 01 - What is Statistics?
c. sample. d. population.
ANSWER: b
16. A descriptive measure that is computed from a sample is called a:
a. parameter. b. statistic.
c. population. d. sample.
ANSWER: b
17. A descriptive measure that is computed from a population is called a:
a. sample. b. statistic.
c. population. d. parameter.
ANSWER: d
18. Which of the following is a measure of the reliability of a statistical inference?
a. A population parameter. b. A significance level.
c. A descriptive statistic. d. A sample statistic.
ANSWER: b
19. A councilman who is running for the office of senator of a state with 3.5 million registered voters commissions a
survey. In the survey, 46% of the 8,000 registered voters interviewed say they plan to vote for him. The population of
interest is:
a. the 3.5 million registered voters in the state.
b. the 8,000 registered voters interviewed.
c. the 46% who plan to vote for her.
d. all the residents of the state.
ANSWER: a
20. A company has developed a new power cell and wants to estimate its average lifetime. A random sample of 650
power cells is tested and the average lifetime of this sample is found to be 315 hours. The 315 hours is the value of a:
a. parameter. b. statistic.
c. sample. d. population.
ANSWER: b
21. The process of using sample statistics to draw conclusions about population parameters is called:
a. finding the significance level. b. calculating descriptive statistics.
c. doing inferential statistics. d. calculating the confidence level.
ANSWER: c
22. Which of the following represents a population, as opposed to a sample?
a. 2,000 respondents to a magazine survey which has 600,000 subscribers.
b. The first 15 students in your class completing a final exam.
c. Every fourth student to arrive at the book store on your campus.
d. All registered voters in the state of West Virginia
ANSWER: d
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