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Basic Business Statistics| Concepts and Applications 11th Edition by Mark Berenson, David Levine and Timothy Krehbiel. TEST BANK

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Test Bank Basic Business Statistics 11th Edition Complete 1: Introduction and Data Collection Chapter 2: Presenting Data in Tables and Charts Chapter 3: Numerical Descriptive Measures Chap... ter 4: Basic Probability Chapter 5: Some Important Discrete Probability Distributions Chapter 6: The Normal Distribution and Other Continuous Distributions Chapter 7: Sampling and Sampling Distributions Chapter 8: Confidence Interval Estimation Chapter 9: Fundamentals of Hypothesis Testing: One-Sample Tests Chapter 10: Two-Sample Tests Chapter 11: Analysis of Variance Chapter 12: Chi-Square Tests and Nonparametric Tests Chapter 13: Simple Linear Regression Chapter 14: Introduction to Multiple Regression Chapter 15: Multiple Regression Model Building Chapter 16: Time-Series Forecasting and Index Numbers Chapter 17: Decision Making Chapter 18: Statistical Applications in Quality Management Chapter 1: Introduction and Data Collection The process of using sample statistics to draw conclusions about population parameters is called statistical inference. the scientific method. sampling. descriptive statistics. ANSWER: a Those methods involving the collection, presentation, and characterization of a set of data in order to properly describe the various features of that set of data are called statistical inference. the scientific method. sampling. descriptive statistics. ANSWER: KEYWORDS: descriptive statistics The collection and summarization of the socioeconomic and physical characteristics of the employees of a particular firm is an example of inferential statistics. descriptive statistics. a parameter. a statistic. ANSWER: KEYWORDS: descriptive statistics The estimation of the population average family expenditure on food based on the sample average expenditure of 1,000 families is an example of inferential statistics. descriptive statistics. a parameter. a statistic. ANSWER: The universe or "totality of items or things" under consideration is called a sample. a population. a parameter. a statistic. ANSWER: KEYWORDS: population The portion of the universe that has been selected for analysis is called a sample. a frame. a parameter. a statistic. ANSWER: KEYWORDS: sample A summary measure that is computed to describe a characteristic from only a sample of the population is called a parameter. a census. a statistic. the scientific method. ANSWER: A summary measure that is computed to describe a characteristic of an entire population is called a parameter. a census. a statistic. the scientific method. ANSWER: Which of the following is most likely a population as opposed to a sample? respondents to a newspaper survey the first 5 students completing an assignment every third person to arrive at the bank registered voters in a county ANSWER: Which of the following is most likely a parameter as opposed to a statistic? the average score of the first five students completing an assignment the proportion of females registered to vote in a county the average height of people randomly selected from a database the proportion of trucks stopped yesterday that were cited for bad brakes ANSWER: Which of the following is not an element of descriptive statistical problems? an inference made about the population based on the sample the population or sample of interest tables, graphs, or numerical summary tools identification of patterns in the data ANSWER: A study is under way in Yosemite National Forest to determine the adult height of American pine trees. Specifically, the study is attempting to determine what factors aid a tree in reaching heights greater than 60 feet tall. It is estimated that the forest contains 25,000 adult American pines. The study involves collecting heights from 250 randomly selected adult American pine trees and analyzing the results. Identify the population from which the study was sampled. the 250 randomly selected adult American pine trees the 25,000 adult American pine trees in the forest all the adult American pine trees taller than 60 feet all American pine trees, of any age, in the forest ANSWER: A study is under way in Yosemite National Forest to determine the adult height of American pine trees. Specifically, the study is attempting to determine what factors aid a tree in reaching heights greater than 60 feet tall. It is estimated that the forest contains 25,000 adult American pines. The study involves collecting heights from 250 randomly selected adult American pine trees and analyzing the results. Identify the variable of interest in the study the age of an American pine tree in Yosemite National Forest the height of an American pine tree in Yosemite National Forest the number of American pine trees in Yosemite National Forest the species of trees in Yosemite National Forest ANSWER: KEYWORDS: data, sampling A study is under way in Yosemite National Forest to determine the adult height of American pine trees. Specifically, the study is attempting to determine what factors aid a tree in reaching heights greater than 60 feet tall. It is estimated that the forest contains 25,000 adult American pines. The study involves collecting heights from 250 randomly selected adult American pine trees and analyzing the results. Identify the sample in the study. the 250 randomly selected adult American pine trees the 25,000 adult American pine trees in the forest all the adult American pine trees taller than 60 feet all American pine trees, of any age, in the forest ANSWER: Most analysts focus on the cost of tuition as the way to measure the cost of a college education. But incidentals, such as textbook costs, are rarely considered. A researcher at Drummand University wishes to estimate the textbook costs of first-year students at Drummand. To do so, she monitored the textbook cost of 250 first-year students and found that their average textbook cost was $300 per semester. Identify the population of interest to the researcher. all Drummand University students all college students all first-year Drummand University students the 250 students that were monitored ANSWER: Most analysts focus on the cost of tuition as the way to measure the cost of a college education. But incidentals, such as textbook costs, are rarely considered. A researcher at Drummand University wishes to estimate the textbook costs of first-year students at Drummand. To do so, she monitored the textbook cost of 250 first-year students and found that their average textbook cost was $300 per semester. Identify the variable of interest to the researcher the textbook cost of first-year Drummand University students the year in school of Drummand University students the age of Drummand University students the cost of incidental expenses of Drummand University students ANSWER: Most analysts focus on the cost of tuition as the way to measure the cost of a college education. But incidentals, such as textbook costs, are rarely considered. A researcher at Drummand University wishes to estimate the textbook costs of first-year students at Drummand. To do so, she monitored the textbook cost of 250 first-year students and found that their average textbook cost was $300 per semester. Identify the sample in the study. all Drummand University students all college students all first-year Drummand University students the 250 students that were monitored ANSWER: Researchers suspect that the average number of units earned per semester by college students is rising. A researcher at Calendula College wishes to estimate the number of units earned by students during the spring semester at Calendula. To do so, he randomly selects 100 student transcripts and records the number of units each student earned in the spring term. He found that the average number of semester units completed was 12.96 units per student. Identify the population of interest to the researcher. all Calendula College students all college students all Calendula College students enrolled in the spring all college students enrolled in the spring ANSWER: The average number of units earned per semester by college students is suspected to be rising. A researcher at Calendula College wishes to estimate the number of units earned by students during the spring semester at Calendula. To do so, he randomly selects 100 student transcripts and records the number of units each student earned in the spring term. Identify the variable of interest to the researcher. the number of students enrolled at Calendula College during the spring term the average indebtedness of Calendula College students enrolled in the spring the age of Calendula College students enrolled in the spring the number of units earned by Calendula College students during the spring term ANSWER: Jared was working on a project to look at global warming and accessed an Internet site where he captured average global surface temperatures from 1866. Which of the four methods of data collection was he using? published sources experimentation surveying observation ANSWER: The British Airways Internet site provides a questionnaire instrument that can be answered electronically. Which of the 4 methods of data collection is involved when people complete the questionnaire? published sources experimentation surveying observation ANSWER: A marketing research firm, in conducting a comparative taste test, provided three types of peanut butter to a sample of households randomly selected within the state. Which of the 4 methods of data collection is involved when people are asked to compare the three types of peanut butter? published sources experimentation surveying observation ANSWER: Tim was planning for a meeting with his boss to discuss a raise in his annual salary. In preparation, he wanted to use the Consumer Price Index to determine the percentage increase in his real (inflation-adjusted) salary over the last three years. Which of the 4 methods of data collection was involved when he used the Consumer Price Index? published sources experimentation surveying observation ANSWER: Which of the 4 methods of data collection is involved when a person counts the number of cars passing designated locations on the Los Angeles freeway system? published sources experimentation surveying observation ANSWER: KEYWORDS: sources of data A statistics student found a reference in the campus library that contained the median family incomes for all 50 states. She would report her data as being collected using a designed experiment. observational data. a random sample. a published source. ANSWER: The personnel director at a large company studied the eating habits of the company’s employees. The director noted whether employees brought their own lunches to work, ate at the company cafeteria, or went out to lunch. The goal of the study was to improve the food service at the company cafeteria. This type of data collection would best be considered as an observational study. a designed experiment. a random sample. a quota sample. ANSWER: A study attempted to estimate the proportion of Florida residents who were willing to spend more tax dollars on protecting the beaches from environmental disasters. Twenty-five hundred Florida residents were surveyed. What type of data collection procedure was most likely used to collect the data for this study? a designed experiment a published source a random sample observational data ANSWER: Which of the following is a discrete quantitative variable? the Dow Jones Industrial average the volume of water released from a dam the distance you drove yesterday. the number of employees of an insurance company ANSWER: Which of the following is a continuous quantitative variable? the color of a student’s eyes the number of employees of an insurance company the amount of milk produced by a cow in one 24-hour period the number of gallons of milk sold at the local grocery store yesterday ANSWER: To monitor campus security, the campus police office is taking a survey of the number of students in a parking lot each 30 minutes of a 24-hour period with the goal of determining when patrols of the lot would serve the most students. If X is the number of students in the lot each period of time, then X is an example of a categorical random variable. a discrete random variable. a continuous random variable. a statistic. ANSWER: Researchers are concerned that the weight of the average American school child is increasing implying, among other things, that children’s clothing should be manufactured and marketed in larger sizes. If X is the weight of school children sampled in a nationwide study, then X is an example of a categorical random variable. a discrete random variable. a continuous random variable. a parameter. ANSWER: The classification of student class designation (freshman, sophomore, junior, senior) is an example of a categorical random variable. a discrete random variable. a continuous random variable. a parameter. ANSWER: The classification of student major (accounting, economics, management, marketing, other) is an example of... Find answers for all All chapters [Show More]

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