1. Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data


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Student: ___________________________________________________________________________

1. Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. 
True    False


 

2. Inferential statistics refers to generalizing from a sample to a population, estimating unknown parameters, drawing conclusions, and making decisions. 
True    False


 

3. Inferential statistics refers to summarizing data from the observations. 
True    False


 

4. Descriptive statistics refers to summarizing data rather than generalizing about the population. 
True    False


 

5. Estimating parameters and testing hypotheses are important aspects of descriptive statistics. 
True    False


 

6. Inconsistent treatment of data by a researcher is a symptom of poor survey or research design. 
True    False


 

7. Empirical data are collected through observations and/or experiments. 
True    False


 

8. Business intelligence refers to collecting, storing, accessing, and analyzing data on the company's operations in order to make better business decisions. 
True    False


 

9. When a statistician omits data contrary to her findings in a study, she is relying on a small sample generalization to strengthen her conclusions. 
True    False


 

10. When we have to buy something unknown, we often rely on the information from reviews for a specific product from the internet. This pitfall is called a conclusion from non-random Samples. 
True    False


 

11. A strong correlation between A and B would suggest that B must be caused by A
True    False


 

12. When his old mp3 player goes out of order, Rick strikes the player on the side and it works again. Rick tells his friend that hitting the MP3 player fixed it. This is an example of post hoc fallacy. 
True    False


 

13. A statistical test may be significant yet have no practical importance. 
True    False


 

14. Valid statistical inferences cannot be made when sample sizes are small. 
True    False


 

15. Statistics is an essential part of critical thinking, because it allows us to transform the empirical evidence from a sample so it will agree with our preferred conclusions. 
True    False


 

16. Statistical challenges include imperfect data, practical constraints, and ethical dilemmas. 
True    False


 

17. Effective technical report-writing requires attention to style, grammar, organization, and proper use of tables and graphs. 
True    False


 

18. The science of statistics tells us whether the sample evidence is convincing. 
True    False


 

19. Pitfalls to consider in a statistical test include non-random samples, small sample size, and lack of causal links. 
True    False


 

20. In preparing an oral statistical presentation the 3 P's refer to persistence, prolixity, and pizzazz. 
True    False


 

21. An executive summary should contain a detailed discussion of all tables, figures, and appendices, so the reader will have all the information. 
True    False


 

22. An oral report should contain all the information in the written report so the audience won't miss of the details. 
True    False


 

23. Speaking too slowly is a common error in making an oral presentation. 
True    False


 

24. Thanks to computer spell-checking, errors in spelling are no longer a problem in business. 
True    False


 

25. Predicting a presidential candidate's percent of the statewide vote from a sample of 800 voters would be an example of inferential statistics. 
True    False


 

26. The post hoc fallacy is the logical error of concluding that if B follows A, then B was caused by A
True    False


 

27. An example of descriptive statistics would be reporting the percent of students in your accounting class that attended the review session for the last exam. 
True    False


 

28. "Bob must be rich. He's a lawyer, and lawyers make lots of money." This statement best illustrates which fallacy? 
A. Using poor survey methods.
B. Confusing significance with importance.
C. Unconscious bias.
D. Generalizing from an average to an individual.


 

29. Which is not an ethical obligation of a statistician? Explain. 
A. To know and follow accepted procedures.
B. To ensure data integrity and accurate calculations.
C. To support client wishes in drawing conclusions from the data.
D. To acknowledge sources of financial support.


 

30. Which of the following statements is not true? 
A. A statistic is a single measure (usually numerical) that is calculated from a sample.
B. Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.
C. For day-to-day data business analysis, most firms rely on a large staff of expert statisticians.
D. A statistical test may be significant yet have no practical importance.


 

31. Which of the following is not characteristic of an executive summary? 
A. Uses precise scientific terminology and statistical jargon.
B. Is short, often just a single page.
C. Summarizes the major findings so they cannot be missed.
D. Describes the tasks, goals, and methods.


 

32. Which of the following is not the statistical challenges? 
A. Imperfect data.
B. Ethical problem.
C. Hard to find the consultant.
D. Time constraint.


 

33. If 35% of the students in my statistics class use the Google mail (or gmail), I conclude from this that 35% of all students at the University have gmail accounts. The most important logical weakness of this conclusion would be 
A. relying on any sample instead of surveying every student.
B. using a sample that may not be representative of all students.
C. failing to correct for unconscious interviewer bias.
D. assuming cause and effect where none exists.


 

34. Which of the following is not a characteristic of an ideal statistician? 
A. Technically current (e.g. software).
B. Communicates well (both written and oral).
C. Advocates client's objectives.
D. Can deal with imperfect information.


 

35. Which of the following statements is not true? 
A. Progress consists of continual refinement of theories by thorough hypothesis testing.
B. Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.
C. Estimating parameters is an important aspect of descriptive statistics.
D. Statistical challenges include imperfect data, practical constraints, and ethical dilemmas.


 

36. Which is not a practical constraint facing the business researcher or data analyst? 
A. Time and money are always limited.
B. The world is no laboratory, so some experiments are impractical.
C. Research on human subjects is fraught with danger and ethical issues.
D. Survey respondents usually will tell the truth only if well compensated.


 

37. Which is not a key characteristic of a good business data analyst? 
A. Effective writer.
B. Stays current on techniques.
C. Has a Ph.D. or master's degree in statistics.
D. Can deal with imperfect information.


 

38. An ethical statistical consultant would not always 
A. follow accepted statistical procedures.
B. support management's desired conclusions.
C. acknowledge sources of financial support.
D. report limitations of the data.


 

39. The NASA experiences with Challenger and Columbia suggest that 
A. statistics is not applicable to space endeavors.
B. limited data may still contain important clues.
C. good engineers can eliminate risks in space flight.
D. space flight is only slightly more risky than commercial air travel.


 

40. One of the most common perceived weaknesses of new college graduates is 
A. need for more accounting background.
B. poor writing and communication skills.
C. lack of understanding of economics.
D. insufficient training in finance.


 

41. Which is essential for effective oral presentations? 
A. Use of specialized technical jargon (e.g., financial).
B. Generous use of color and special effects in presentations.
C. A lengthy and thorough executive summary.
D. Preparation and rehearsal of timing.


 

42. "Smoking is not harmful. My Aunt Harriet smoked, but lived to age 90." This best illustrates which fallacy? 
A. Unconscious bias.
B. Significance versus practical importance.
C. 
Post hoc reasoning.
D. Small sample generalization.


 

43. Which best illustrates the distinction between statistical significance and practical importance? 
A. "In 2006, 240 out of 400 statistics students at Oxnard Technical College sold their textbooks at the end of the semester, compared with 220 out of 330 students in 2005, a significant decrease."
B. "Our new manufacturing technique has increased the life of the 80 GB USB AsimoDrive external hard disk significantly, from 240,000 hours to 250,000 hours."
C. "In 50,000 births, the new vaccine reduced the incidence of infant mortality in Morrovia significantly from 14.2 deaths per 1000 births to 10.3 deaths per 1000 births."
D. "The new Sky Penetrator IV business jet's cruising range has increased significantly from 3,975 miles to 4,000 miles."


 

44. "Circulation fell in the month after the new editor took over the newspaper Oxnard News Herald. The editor new should be fired." Which is not a serious fallacy in this conclusion? 
A. Generalizing from a small sample.
B. Applying
post hoc reasoning.
C. Failing to identify causes.
D. Using a biased sample.


 

45. An ethical data analyst would be least likely to 
A. check data for accuracy.
B. cite data sources and their limitations.
C. acknowledge sources of financial support.
D. rely only on Excel for calculations.


 

46. "Tom's SUV rolled over. SUVs are dangerous." This best illustrates which fallacy? 
A. Unconscious bias.
B. Significance versus practical importance.
C. 
Post hoc reasoning.
D. Small sample generalization.


 

47. "Bob didn't wear his lucky T-shirt to class, so he failed his chemistry exam." This best illustrates which fallacy? 
A. Small sample generalization.
B. Poor survey methods.
C. 
Post hoc reasoning.
D. More than one of the above.


 

48. Which is not a reason for an average student to study statistics? 
A. Improve technical writing skills.
B. Gain information management skills.
C. Enhance technical literacy.
D. Learn stock market strategies.


 

49. Which is not a likely area of application of statistics in business? 
A. Auditing supplier invoices for correct payment.
B. Questioning the executives' strategic decisions.
C. Looking for patterns in a large marketing database.
D. Making forecasts of several key product lines.


 

50. Which is not a likely task of descriptive statistics? 
A. Summarizing a sample.
B. Describing data numerically.
C. Estimating unknown parameters.
D. Making visual displays of data.


 

51. We would associate the term inferential statistics with which task? 
A. Making visual displays of data.
B. Estimating unknown parameters.
C. Describing a sample of data.
D. Tabulating a survey.


 

52. How might statistics be useful in determining the correct width of doorways in a convalescent care facility so that 99 percent of the "typical" wheelchairs can pass through the doorway without coming closer than 6 inches on either side? 


 



 



 


 

53. Established risk factors such as cholesterol, obesity can predict who will get heart disease about 80 percent of the time. Adding a new test called CRP can raise this percentage to 81 percent—a statistically significant difference. But would this improvement be of practical importance to a physician? To a patient? Discuss. 


 



 



 


 

54. Bob said, "Since statistics cannot tell for certain whether one thing caused another, there is no point in even reporting probabilities." Argue both for and against Bob's statement. 


 



 



 


 

55. Bob said, "Why study math and statistics? I'm majoring in human resources because it's people that are important in business, not numbers." Argue both for and against Bob's statement. 


 



 



 


 
c1 Key
 


1. Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. 
TRUE

 


AACSB Knowledge: Analytical skills
Blooms Taxonomy: Knowledge
Blooms Taxonomy: Understanding
Difficulty: Easy
Doane - Chapter 001 #1
Learning Objective: Define statistics and explain some of its uses in business.
Topic: statistical basics and uses in business
 


2. Inferential statistics refers to generalizing from a sample to a population, estimating unknown parameters, drawing conclusions, and making decisions. 
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