ECON 2040 Exam 1
You have to master the contents on the following chapters to do well in this examination:
• Introduction to Business Statistics
• D... [Show More] isplaying Descriptive Statistics
• Calculating Descriptive Statistics
You should also be thoroughly conversant with the introduction to business statistics.
1) Using income data to determine the credit worthiness of a consumer who wishes to purchase a new car is an example of using statistics in the field of ________.
A) marketing research
B) advertising
C) operationsD) finance
2) Gathering information from potential customers in an effort to determine their preferences is an example of using statistics in the field of ________.
A) marketing research
B) advertising
C) operationsD) finance
3) Using quality control techniques to test the salt content of pretzels before they are packaged for the consumer is an example of using statistics in the field of ________.
A) marketing research
B) advertising
C) operations
D) finance
4) ________ is (are) derived from facts for the purpose of making decisions.
A) Data
B) Information
C) Statistics
D) Samples
5) The main drawback to using secondary data is that _______________________.
A) it may be expensive to obtain the data
B) the subjects of interest need to be directly observed to collect the data
C) the subjects of interest are paid to provide the data
D) you have no control over how the data were collected
6) A method of gathering data when subjects are exposed to certain treatments and the data of interest is recorded is known as ____________.
A) direct observation
B) focus groups
C) experiments
D) surveys
7) A method of gathering data when people are asked a series of questions that can be administered by e-mail, via the Web, face-to-face or over the telephone, is known as _________. A) direct observation
B) focus groups
C) experiments
D) surveys
8) A method of gathering data while the subjects of interest are in their natural environment, often unaware they are being watched, is known as ____________.
A) direct observation
B) focus groups
C) experiments
D) surveys
9) A method of gathering data when individuals are paid to discuss their attitudes towards products or services in a group setting controlled by a moderator is known as ____________. A) direct observation
B) focus groups
C) experiments D) surveys
10) A telemarketer calls individuals at home over the phone and ask them the likelihood that they will purchase a timeshare property over the next 12 months. This method of gathering data is known as ____________.
A) direct observation
B) focus groups
C) experiments
D) surveys
11) Which of the following is an example of qualitative data?
A) today's high temperature
B) the class average of your last statistics exam
C) the amount of time that you studied for your last statistics exam
D) your last name
12) Which levels of measurement are considered quantitative data?
A) interval and ratio
B) nominal and interval
C) nominal and ratio
D) nominal and ordinal
13) A respondent of a survey indicates that he is a resident in the state of Ohio. This is an example of _________ data.
A) nominal
B) ordinal
C) intervalD) ratio
14) The Graduate Management Admission Test (GMAT) is a standardized test used by schools to determine the aptitude of individuals who are applying for MBA programs. The range of the GMAT score is 200-800. Brian has recently taken the exam and scored 720. This is an example of __________ data.
A) nominal
B) ordinal
C) interval
D) ratio
15) In a Major League Baseball game today, the Philadelphia Phillies scored six runs against the New York Mets. This is an example of _________ data.
A) nominal
B) ordinal
C) intervalD) ratio
16) A respondent of a survey indicates that she is currently in her junior year at the University of Texas. This is an example of _________ data.
A) nominal
B) ordinal
C) interval
D) ratio
17) A car dealership performs a credit check on a potential customer. According to the credit bureau, the customer's credit score is 710. This is an example of ________ data.
A) nominal
B) ordinal
C) interval D) ratio
18) A respondent of a survey indicates that he owns the home that he currently resides. This is an example of ____________ data.
A) nominal
B) ordinal
C) intervalD) ratio
19) A respondent of a survey is asked whether their most recent dining experience was excellent, good, fair, or poor. The person indicates that the experience was "good". This is an example of __________ data.
A) nominal
B) ordinal
C) interval D) ratio
20) A property of ________ data is that the differences between categories are not meaningful and, therefore, cannot be measured.
A) cross-sectional
B) ordinal
C) interval
D) ratio
21) ________ data has the benefit of a true zero point.
A) Nominal
B) Ordinal
C) IntervalD) Ratio [Show Less]
