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WorksheetsBusiness Stats 271 SP25: Midterm Study Guide
Total questions: 59
Worksheet time: 30mins
Analytics is generally thought to comprise three broad categories of techniques that include all of the following except _____ analytics.
prescriptive
predictive
descriptive
diagnostic
Categorical data
must be numeric.
must be nonnumeric.
cannot be numeric.
may be either numeric or nonnumeric.
In a post office, the mailboxes are numbered from 1 to 4,500. These numbers represent
categorical data.
quantitative data.
either categorical or quantitative data.
since the numbers are sequential, the data is quantitative.
Which of the following is a categorical variable?
Your age when you began college
Your Social Security Number
Your statistics class start time
Your birth year
Census refers to a(n)
experimental study to collect data on the entire population.
experimental study to collect data on a sample.
survey to collect data on a sample.
survey to collect data on the entire population.
Facts and figures that are collected, analyzed and summarized for presentation and interpretation are
variables.
elements.
time series data.
data.
The major applications of data mining have been made by companies with a strong _______ focus.
wholesale
manufacturing
consumer
research and development
In a data set, the number of elements will always be the same as the number of
independent variables.
observations.
data points.
dependent variables.
Which of the following is not an example of descriptive statistics?
A histogram depicting the age distribution for 30 randomly selected students
An estimate of the number of Alaska residents who have visited Canada
A table summarizing the data collected in a sample of new-car buyers
The proportion of mailed-out questionnaires that were returned
Measurement of body temperature is an example of a variable that uses
the ratio scale.
the interval scale.
the ordinal scale.
either the ratio or the ordinal scale.
Data measured on a nominal scale
must be alphabetic.
can be either numeric or nonnumeric.
must be numeric.
must rank order the data.
Statistical studies in which researchers do not control variables of interest are _____ studies.
experimental
random variable
inferential
observational
Statistical studies in which researchers control variables of interest are _____ studies.
experimental
random variable
inferential
observational
The summaries of data, which may be tabular, graphical, or numerical, are referred to as _____ statistics.
inferential
descriptive
observational
experimental
The data measured on ordinal scale exhibits all the properties of data measured on
ratio scale.
interval scale.
nominal scale.
nominal and interval scales.
A population is
the same as a sample.
the selection of a random sample.
the collection of all items of interest in a study.
always the same size as the sample.
The type of analytics whose models yield a best course of action to take is _____ analytics.
descriptive
prescriptive
predictive
observational
Data dashboard is an analytical technique that falls in the category of _____ analytics.
prescriptive
predictive
descriptive
diagnostic
Optimization models, which generate solutions that maximize or minimize some objective subject to a set of constraints, fall into the category of _____ analytics.
prescriptive
predictive
descriptive
diagnostic
Simulation, which is the use of probability and statistical computer models to better understand risk, falls under the category of _____ analytics.
prescriptive
predictive
descriptive
diagnostic
The largest experimental statistical study ever conducted is believed to be for
Cholera
Polio
Diphtheria
Malaria
Cost of a theater ticket is an example of
categorical data
either categorical or quantitative data
nominal data
quantitative data
Which of the following variables use the ratio scale of measurement?
Driver's license number
Temperature
Gender
Weight
Five hundred residents of a city with a population of 240,495 are polled to obtain information on voting intentions in an upcoming city election. The five hundred residents in this study is an example of a(n)
census.
sample.
observation.
population.
Statistical inference
refers to the process of drawing inferences about the sample based on the characteristics of the population.
is the same as descriptive statistics.
is the process of drawing inferences about the population based on the information taken from the sample.
is the same as a census.
In a sample of 400 students in a university, 80 or 20% are Business majors. Based on the above information, the school's paper reported that "20% of all the students at the university are Business majors." This report is an example of
a sample.
a population.
statistical inference.
descriptive statistics.
Data are
always numeric.
always non-numeric.
the raw material of statistics.
Fifteen percent of the students in a school of Business Administration are majoring in Economics, 20% in Finance, 35% in Management, and 30% in Accounting. The graphical device(s) which can be used to present these data is (are)
a line chart.
only a bar chart.
only a pie chart.
both a bar chart and a pie chart.
A graphical device for depicting categorical data that have been summarized in a frequency distribution, relative frequency distribution, or percent frequency distribution is a
histogram.
stem-and-leaf display.
dot plot.
bar chart.
The above crosstabulation shows
frequencies.
row percentages.
column percentages.
overall percentages.
A cumulative frequency distribution is
a tabular summary of a set of data showing the relative frequency.
a tabular summary of a set of data showing sums of frequencies.
a tabular summary of a set of data showing the frequency of items in each of several nonoverlapping classes.
a graphical device for presenting categorical data.
In a cumulative frequency distribution, the last class will always have a cumulative frequency equal to
one.
100%.
the total number of elements in the data set.
the class width.
A graphical tool typically associated with the display of key performance indicators is a
side-by-side bar chart.
stem-and-leaf display.
stacked bar chart.
data dashboard.
Which of the following is a graphical summary of a set of data in which each data value is represented by a dot above the axis?
Histogram
Pie chart
Dot plot
Crosstabulation
Histograms based on data on housing prices and salaries typically are
skewed to the left.
skewed to the right.
stacked.
symmetric.
The most common graphical presentation of quantitative data is a
histogram.
bar chart.
dot plot.
pie chart.
Data that indicate how much or how many are known as
categorical data.
quantitative data.
relative data.
cumulative data.
When the conclusions based upon the unaggregated data can be completely reversed if we look at the aggregated crosstabulation, the occurrence is known as
Reverse correlation.
Negative correlation.
Simpson's paradox.
Pareto's rule.
A display used to compare the frequency, relative frequency or percent frequency of two categorical variables is a
scatter diagram.
stacked bar chart.
pie chart.
stem-and-leaf display.
A box plot is a graphical representation of data that is based on
the empirical rule.
z-scores.
a histogram.
a five-number summary.
Statements about the proportion of data values that must be within a specified number of standard deviations of the mean can be made using
Chebyshev's theorem.
The empirical rule.
A five-number summary.
Percentiles.
The coefficient of variation indicates how large the standard deviation is relative to the
mean.
median.
mode.
range.
The correlation coefficient ranges between
0 and 1.
-1 and +1.
minus infinity and plus infinity.
1 and 100.
Positive values of covariance indicate
a positive variance of the x values.
a positive variance of the y values.
the standard deviation is positive.
positive relation between the independent and the dependent variables.
The percentage of data values that must be within one, two, and three standard deviations of the mean for data having a bell-shaped distribution can be determined using
Chebyshev's theorem.
The empirical rule.
A five-number summary.
Percentiles.
The geometric mean of four observations is the
same as their weighted mean.
same as their arithmetic mean.
square root of the product of the 4 observations.
fourth root of the product of the 4 observations.
The interquartile range is
the 50th percentile.
another name for the standard deviation.
the difference between the largest and smallest values.
the difference between the third quartile and the first quartile.
Generally, which one of the following is the least appropriate measure of central tendency for a data set that contains outliers?
Mean
Median
Mode
Midrange
μ is an example of a
population parameter.
sample statistic.
population variance.
sample mean.
If the data distribution is symmetric, the skewness is
0.
0.5.
1.
positive.
Posterior probabilities are computed using
the Multiplication Law.
Chebyshev’s theorem.
the empirical rule.
Bayes' theorem.
Of the last 100 customers entering a computer shop, 40 have purchased a computer. If the classical method for computing probability is used, the probability that the next customer will purchase a computer is
0.40.
0.50.
1.00.
0.60.
If A and B are independent events with P(A) = 0.4 and P(B) = 0.25, then P(A ∪ B) =
0.65.
0.55.
0.10.
0.60.
The symbol ∩ shows the
union of events.
intersection of two events.
sum of the probabilities of events.
sample space.
Posterior probabilities are _____ probabilities.
independent
marginal
joint
conditional
The multiplication law is potentially helpful when we are interested in computing the probability of
mutually exclusive events.
the intersection of two events.
the union of two events.
conditional events.
If X and Y are mutually exclusive events with P(A) = 0.295, P(B) = 0.32, then P(A | B) =
0.0944.
0.6150.
1.0000.
0.0000.
A graphical method of representing the sample points of an experiment is a
stacked bar chart.
dot plot.
stem-and-leaf display.
tree diagram.
Cost of a theater ticket is an example of
Categorical Data
either categorical or quantitative data
nominal data
quantitative data
