Business Statistics for Decision Making

Front

Which of the following best describes descriptive statistics?

Back

Summarizing and organizing data

Front

Inferential statistics is used to make predictions about a population based on a sample.

Back

True

Front

In marketing, statistics is primarily used to ________.

Back

Analyze customer behavior

Front

What are the two main types of data in statistics?

Back

Quantitative and Qualitative

Front

Data collected directly from respondents through questionnaires is called ________ data.

Back

Primary

Front

What does the mode represent in a dataset?

Back

The most frequently occurring value

Front

Which of the following is a disadvantage of the arithmetic mean? Does not follow mathematical properties, Difficult to compute, Does not consider all data points, Affected by extreme values

Back

Affected by extreme values

Front

Which of the following is needed to calculate the combined mean? Standard deviation, Mean and size of individual groups, Median and mode, Highest and lowest values

Back

Mean and size of individual groups

Front

In which scenario is the weighted mean more useful than the arithmetic mean? Options: When different values have different levels of importance, When the dataset has no missing values, When all values contribute equally, When data is symmetrical

Back

When different values have different levels of importance

Front

In an even-numbered dataset, how is the median determined?

Back

By averaging the two middle values