Business Stats Exam 1 Review

A variable is a set of measurements obtained for a particular element. 

• True
• False

Class level (Freshman, Sophomore, Junior, Senior) is an example of a numerical variable.

• True
• False

Which of the following questions is representative of a numerical or quantitative variable?

• What's your ethnicity?
• What's your favorite color?
• What's your age?
• What's your relationship status?

Quantitative variables employ numerical indicators to ascertain the relative amount of a perceived concept. For example, a person's age is an example of a quantitaive variable.

• True
• False

Obtaining data from a government website is considered using a secondary data source.

• True
• False

The class midpoint of the class limit (15-19) is:

• 15
• 16
• 17
• 18

If the frequency of a particular class is 10 and the total is 50, then the relative frequency is:

• 0.1
• 0.15
• 0.2
• 0.25

If the relative frequency is .40, then the percent frequency is 40%.

• True
• False

A histogram uses sets of bars to show the joint responses form two categorical variables.

• True
• False

Business statisticians can use Excel to create bar charts and pie charts. 

• True
• False