CHAPTER ONE
Introduction to Statistics
D
1.
E
Term
B
E
Term
The complete collection of all entities under study is called the __________.
A.
B.
C.
D.
2.
sample
parameter
statistic
population
A portion (subset) of the entities under study is called the __________.
A.
B.
C.
D.
parameter
sample
population
statistic
1
2
Test Bank
B
3.
E
BApp
D
A.
B.
C.
D.
4.
E
BApp
C
5.
E
BApp
statistic
population
parameter
sample
Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating
sales trend. Specifically, the number of customers is stable at 1,500, but they are
purchasing less each year. She orders her staff to search for causes of the
downward trend by surveying all 1,500 industrial customers. For this study, the
set of 1,500 industrial customers is a ________________.
A.
B.
C.
D.
6.
statistic
population
parameter
sample
Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical
Division, is leading a study to identify and assess the relative importance of
product features. Manuel directs his staff to design a survey questionnaire for
distribution to 100 of Plano’s 954 customers. For this study, the set of 100
customers is a ________________.
A.
B.
C.
D.
E
BApp
B
Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical
Division, is leading a study to identify and assess the relative importance of
product features. Manuel directs his staff to design a survey questionnaire for
distribution to all of Plano’s 954 customers. For this study, the set of 954
customers is a ________________.
statistic
sample
population
parameter
Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating
sales trend. Specifically, the number of customers is stable at 1,500, but they are
purchasing less each year. She orders her staff to search for causes of the
downward trend by selecting a focus group of 40 industrial customers. For this
study, the set of 40 industrial customers is a ________________.
A.
B.
C.
D.
statistic
sample
population
parameter
Chapter 1: Introduction to Statistics
A
7.
E
BApp
B
E
BApp
B
Abel Alonzo, Director of Human Resources, is exploring the causes of employee
absenteeism at Batesville Bottling during the last operating year (January 1, 1999
through December 31, 1999). For this study, the set of all employees who worked
at Batesville Bottling during the last operating year is a ________________.
A.
B.
C.
D.
8.
9.
3
population
sample
statistic
parameter
Abel Alonzo, Director of Human Resources, is exploring the causes of employee
absenteeism at Batesville Bottling during the last operating year (January 1, 1999
through December 31, 1999). Personnel records for 50 of the plant's 250
employees are selected for analysis. For this study, the group of 50 employees is a
__________.
A. population
B. sample
C. parameter
D. statistic
When a person collects information from the entire population, this is called a
_______.
E
Term
A. sample
B. census
C. statistic
D. parameter
B
Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical
Division, is leading a study to identify and assess the relative importance of
product features. Manuel directs his staff to design a survey questionnaire for
distribution to all of Plano’s 954 customers. Manuel is ordering a ____________.
10.
M
BApp
A.
B.
C.
D.
statistic from the customers
census of the customers
sample of the customers
sorting of the customers
4
Test Bank
D
11.
Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical
Division, is leading a study to identify and assess the relative importance of
product features. Manuel directs his staff to design a survey questionnaire for
distribution to 100 of Plano’s 954 customers. Manuel is ordering a
____________.
M
BApp
A.
B.
C.
D.
B
Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating
sales trend. Specifically, the number of customers is stable at 1,500, but they are
purchasing less each year. She orders her staff to search for causes of the
downward trend by surveying all 1,500 industrial customers Sue is ordering a
__________.
12.
statistic from the customers
census of the customers
sorting of the customers
sample of the customers
M
BApp
A.
B.
C.
D.
D
Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating
sales trend. Specifically, the number of customers is stable at 1,500, but they are
purchasing less each year. She orders her staff to search for causes of the
downward trend by selecting a focus group of 40 industrial customers. Sue is
ordering a __________.
13.
statistic from the industrial customers
census of the industrial customers
sample of the industrial customers
sorting of the industrial customers
M
BApp
A.
B.
C.
D.
A
Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects
irregularities in the payroll system, and orders an inspection of "each and every
payroll voucher issued since January 1, 1999." Pinky is ordering a
__________________.
14.
M
BApp
A.
B.
C.
D.
statistic from the industrial customers
census of the industrial customers
sorting of the industrial customers
sample of the industrial customers
census of the payroll records
statistic from the payroll records
sample of the payroll records
sorting of the payroll records
Chapter 1: Introduction to Statistics
C
15.
Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects
irregularities in the payroll system, and orders an inspection of "every tenth
payroll voucher issued since January 1, 1999." Pinky is ordering a
__________________.
M
BApp
A.
B.
C.
D.
C
Upon discovering an improperly adjusted drill press, Jack Joyner, Director of
Quality Control, ordered a 100% inspection of all castings drilled on the evening
shift. Jack is ordering a ___________________.
16.
census of the payroll records
parameter from the payroll records
sample of the payroll records
sorting of the payroll records
M
BApp
A.
B.
C.
D.
A
Upon discovering an improperly adjusted drill press, Jack Joyner, Director of
Quality Control, ordered an inspection of "every fifth casting drilled on the
evening shift." Jack is ordering a ___________________.
17.
M
BApp
B
18.
sample of the castings
sorting of the castings
census of the castings
statistic from the castings
A. sample of the castings
B. sorting of the castings
C. census of the castings
D. parameter from the castings
Greek letters are commonly used to represent _______.
M
Term
A.
B.
C.
D.
C
Which of the following symbols is used to represent a population parameter?
19.
M
Term
A.
B.
C.
D.
sample statistics
population parameters
descriptive measures
inferential statistics
~
#


5
6
Test Bank
A
20.
Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating
sales trend. Specifically, the number of customers is stable at 1,500, but they are
purchasing less each year. She orders her staff to search for causes of the
downward trend by surveying all 1,500 industrial customers. One question on the
survey asked the customers to rate “Merchandise is delivered on time” on a scale
of 1 to 5, with 1 meaning “never” and 5 meaning “always”. The average response
of the 1,500 customers to this question is a _________________.
M
BApp
A.
B.
C.
D.
C
Abel Alonzo, Director of Human Resources, is exploring the causes of employee
absenteeism at Batesville Bottling during the last operating year (January 1, 1999
through December 31, 1999). The average number of absences per employee,
computed from the personnel data of all employees, is a ________________.
21.
parameter
population
sample
statistic
M
BApp
A.
B.
C.
D.
A
Abel Alonzo, Director of Human Resources, is exploring the causes of employee
absenteeism at Batesville Bottling during the last operating year (January 1, 1999
through December 31, 1999). The most appropriate symbol for the average
number of absences per employee, computed from the personnel data of all
employees, is ________________.
22.
M
Term
A.
B.
C.
D.
population
sample
parameter
statistic

#
~

Chapter 1: Introduction to Statistics
D
23.
Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects
irregularities in the payroll system, and orders an inspection of "each and every
payroll voucher issued since January 1, 1999 to determine the percentage of
irregular vouchers." The percentage which Pinky ordered is a
__________________.
M
BApp
A.
B.
C.
D.
B
Statistics are usually represented by _______.
24.
sample statistic
sample parameter
sorted order
population parameter
M
Term
A. Greek letters
B. Roman letters
C. ordinal data
D. interval data
A
Which of the following symbols is used to represent a sample statistic?
25.
M
Term
A.
B.
C.
D.
D
Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating
sales trend. Specifically, the number of customers is stable at 1,500, but they are
purchasing less each year. She orders her staff to search for causes of the
downward trend by selecting a focus group of 40 industrial customers. One
question asked the focus group customers to rate “Merchandise is delivered on
time” on a scale of 1 to 5, with 1 meaning “never” and 5 meaning “always”. The
average response of the 40 customers to this question is a _________________.
26.
M
BApp
A.
B.
C.
D.
S
~


parameter
population
sample
statistic
7
8
Test Bank
A
27.
Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects
irregularities in the payroll system, and orders an inspection of "every tenth
payroll voucher issued since January 1, 1999 and a calculation of the percentage
of irregular vouches in this group." The percentage which Pinky ordered is a
__________________.
M
BApp
A.
B.
C.
D.
D
Abel Alonzo, Director of Human Resources, is exploring the causes of employee
absenteeism at Batesville Bottling during the last operating year (January 1, 1999
through December 31, 1999). Personnel records of 50 employees are selected for
analysis. (The plant employees 250.) For this study, the average number days
absent for these 50 employees is a ________________.
28.
sample statistic
sample parameter
sorted order
population parameter
M
BApp
A.
B.
C.
D.
C
The lowest level of data measurement is _______.
29.
population
sample
parameter
statistic
E
Term
A.
B.
C.
D.
D
Which of the following operations is meaningful for processing nominal data?
30.
interval level
ordinal level
nominal level
ratio level
M
Term
A.
B.
C.
D.
A
Which scale of measurement has these two properties: linear distance is
meaningful and the location of origin (zero) is arbitrary?
31.
E
Term
A.
B.
C.
D.
addition
multiplication
ranking
counting
interval level
ordinal level
nominal level
ratio level
Chapter 1: Introduction to Statistics
D
32.
9
Which scale of measurement has these two properties: linear distance is
meaningful and the location of origin (zero) is absolute (natural)?
E
Term
A.
B.
C.
D.
A
Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating
sales trend. Specifically, the number of customers is stable at 1,500, but they are
purchasing less each year. She orders her staff to search for causes of the
downward trend by surveying all 1,500 industrial customers. One question on the
survey asked the customers “Which of the following best describes your primary
business: a. manufacturing, b. wholesaler, c. retail, d. service.” The measurement
level for this question is _________________.
33.
interval level
ordinal level
nominal level
ratio level
E
BApp
A.
B.
C.
D.
A
A question in a survey of microcomputer users asked “Which operating system do
you use most often: a. Apple OS 7, b. MS DOS, c. MS Windows 95, d. Unix.”
The measurement level for this question is _________________.
34.
nominal level
ordinal level
interval level
ratio level
E
BApp
A.
B.
C.
D.
C
Which of the following operations is meaningful for processing ordinal data, but
is meaningless for processing nominal data?
35.
M
Term
A.
B.
C.
D.
nominal level
ordinal level
interval level
ratio level
addition
multiplication
ranking
counting
10
Test Bank
B
36.
Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating
sales trend. Specifically, the number of customers is stable at 1,500, but they are
purchasing less each year. She orders her staff to search for causes of the
downward trend by surveying all 1,500 industrial customers. One question on the
survey asked the customers “How many people does your company employ: a. 0 25, b. 26 - 100, c. 101 - 1000, d. 1001+.” The measurement level for this question
is __________.
E
BApp
A.
B.
C.
D.
C
A consumer has been asked to rank five cars based upon their desirability. This
level of measurement is _______.
37.
nominal level
ordinal level
interval level
ratio level
M
BApp
A.
B.
C.
D.
C
Morningstar Mutual Funds analyzes the risk and performance of mutual funds.
Each mutual fund is assigned an overall rating of one to five stars. One star is the
lowest rating, and five stars is the highest rating. This level of measurement is
__________.
38.
nominal
ratio
ordinal
interval
E
BApp
A.
B.
C.
D.
D
A level of data measurement that has an absolute zero is called _______.
39.
E
Term
nominal
ratio
ordinal
interval
A. nominal
B. ordinal
C. interval
D. ratio
Chapter 1: Introduction to Statistics
A
40.
11
A person has decided to code a particular set of sales data. A value of 0 is
assigned if the sales occurred on a weekday, and a value of 1 means it happened
on a weekend. This is an example of _______.
E
BApp
A.
B.
C.
D.
A
Members of the accounting department's clerical staff were asked to rate their
supervisor's leadership style as either (1) authoritarian or (2) participatory. This is
an example of _____________.
41.
nominal level data
ordinal level data
interval level data
ratio level data
E
BApp
A.
B.
C.
D.
B
A market research analyst has asked consumers to rate the appearance of a new
package on a scale of 1 to 5. A 1 means that the appearance is awful while a 5
means that it is excellent. The level of this data is usually considered _______.
42.
nominal level data
ordinal level data
interval level data
ratio level data
M
BApp
A.
B.
C.
D.
A
The social security number of employees would be an example of what level of
data measurement?
43.
nominal
ordinal
interval
ratio
E
BApp
A.
B.
C.
D.
D
The dollar sales of a restaurant is an example of what level of data measurement?
44.
M
BApp
A.
B.
C.
D.
nominal
ordinal
interval
ratio
nominal
ordinal
interval
ratio
12
Test Bank
D
45.
E
App
C
46.
Grades on a test range from 0 to 100. This level of data is _______.
A. nominal
B. ordinal
C. interval
D. ratio
If it were not for the existence of an "absolute zero," ratio data would be
considered the same as _______.
E
Term
A.
B.
C.
D.
D
Scholastic Aptitude Test scores are an example of what type of measurement
scale?
47.
M
App
C
A.
B.
C.
D.
48.
nominal
ordinal
interval
descriptive data
nominal
ordinal
interval
ratio
Which types of data are normally used with parametric statistics?
M
Term
A.
B.
C.
D.
B
Which types of data are normally used with nonparametric statistics?
49.
ratio and ordinal
nominal and ordinal
interval and ratio
interval and ordinal
M
Term
A.
B.
C.
D.
B
Using data from a group to generalize to a larger group involves the use of
_______.
50.
M
Term
A.
B.
C.
D.
ratio and ordinal
nominal and ordinal
interval and ratio
interval and ordinal
descriptive statistics
inferential statistics
population derivation
sample persuasion
Chapter 1: Introduction to Statistics
B
51.
M
App
C
A student makes an 82 on the first test in a statistics course. From this, she
assumes that her average at the end of the semester (after other tests) will be about
82. This is an example of _______.
A.
B.
C.
D.
52.
13
descriptive statistics
inferential statistics
nonparametric statistics
wishful thinking
Jessica Salas, president of Salas Products, is reviewing the warranty policy for her
company's new model of automobile batteries. Life tests performed on a sample
of 100 batteries indicated an average life of seven years under normal usage.
Jessica recommended a six-year warranty period for the new model. This is an
example of _____________.
M
BApp
A.
B.
C.
D.
D
Upon discovering an improperly adjusted drill press, Jack Joyner, Director of
Quality Control, ordered an inspection of "every fifth casting drilled on the
evening shift." Less than 1% of the castings were defective; so, Jack released the
evening shift's production to assembly. This is an example of _______________.
53.
descriptive statistics
nonparametric statistics
inferential statistics
nominal data
M
BApp
A.
B.
C.
D.
C
Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects
irregularities in the payroll system, and orders an inspection of "each and every
payroll voucher issued since January 1, 1999." Five percent of the payroll
vouchers contained material errors. This is an example of _______________.
54.
H
BApp
A.
B.
C.
D.
nonparametric statistics
nominal data
descriptive statistics
inferential statistics
nonparametric statistics
nominal data
descriptive statistics
inferential statistics
14
Test Bank
B
55.
A new sales person is paid a commission on each sale. This person made $2,000
his first month on the job. From this he concludes that he will make $24,000
during his first year. This is an example of _______.
E
BApp
A.
B.
C.
D.
A
A statistics instructor collects information about the background of his students.
About 30% have taken economics and about 40% have taken accounting. There
are 23 male students and 27 female students in this class. This is an example of
_______.
56.
E
App
B
A.
B.
C.
D.
57.
descriptive statistics
inferential statistics
nonparametric statistics
nominal data
descriptive statistics
inferential statistics
nonparametric statistics
nominal data
A market researcher is interested in determining the average income for families
in Duval County, Florida. To accomplish this, she takes a random sample of 400
families from the county and uses the data gathered from these families to
estimate the average income for families of the entire county. This process is an
example of _______.
H
BApp
A.
B.
C.
D.
A
The Universal Pulp Company has a plant in Portland, Oregon. Management has
decided to determine the average number of sick days taken per worker in this
plant in 1991. To accomplish this, the management gathers records on all the
workers in the plant and averages the number of sick days taken in 1991 by each
worker. This process is using _______.
58.
M
BApp
A.
B.
C.
D.
descriptive statistics
inferential statistics
intermediate statistics
a census
descriptive statistics
inferential statistics
company-wide statistics
locale-specific statistics
Chapter 1: Introduction to Statistics
D
59.
15
The Magnolia Swimming Pool Company wants to determine the average number
of years it takes before a major repair is required on one of the pools that the
company constructs. The president of the company asks Rick Johnson, a
company accountant, to randomly contact fifty families that built Magnolia pools
in the past ten years and determine how long it was in each case until a major
repair. The information will then be used to estimate the average number of years
until a major repair for all pools sold by Magnolia. The average based on the data
gathered from the fifty families can best be described as a _______.
M
BApp
A.
B.
C.
D.
D
The Chamber of Commerce wants to assess its membership's opinions of the
North American Free Trade Agreement. One-hundred of the 2,000 members are
randomly selected and contacted via telephone. Seventy-five reported an overall
favorable opinion, and twenty-five reported an overall unfavorable opinion. The
proportion, 0.75, is a ___________.
60.
sample
population
parameter
statistic
M
BApp
A.
B.
C.
D.
C
What proportion of San Diego voters favor trade restrictions with China? In an
effort to determine this, a research team calls every registered voter in San Diego
and successfully contacts them. The proportion from the data gathered from the
calls most likely is a _______.
M
App
61.
A.
B.
C.
D.
sample
population
parameter
statistic
sample
population
parameter
statistic
16
Test Bank
D
62.
H
App
C
A.
B.
C.
D.
63.
H
App
C
A researcher wants to know what the average variation is in altimeters of small,
privately owned airplanes. The task of determining this is expensive and time
consuming, if even possible, given the large number of such airplanes. The
researcher decides to use government records to randomly locate the owners of ten
such planes and then get permission to test the altimeters. When the researcher is
done, he will use the data gathered from the group of ten to reach conclusions
about all small, privately owned airplanes. This process can best be described as
_______.
A researcher wants to know what the average variation is in altimeters of small,
privately owned airplanes. The task of determining this is expensive and time
consuming, if even possible, given the large number of such airplanes. The
researcher decides to use government records to randomly locate the owners of ten
such planes and then get permission to test the altimeters. When the researcher is
done, he will use the data gathered from the group of ten to reach conclusions
about all small, privately owned airplanes. The data gathered on the group of ten
airplanes is best described as _______.
A.
B.
C.
D.
64.
M
BApp
data statistics
research statistics
descriptive statistics
inferential statistics
measurements
data
statistics
parameters.
How much inventory do Christmas tree sales lots keep? A researcher goes from
location to location around the city counting the number of trees in each lot.
These numbers most likely represent what level of data?
A.
B.
C.
D.
nominal
ordinal
ratio
interval
Chapter 1: Introduction to Statistics
B
65.
17
During the Valentine's season, different offices in a company are encouraged to
decorate their doors. A committee then goes around and ranks the doors
according to how well decorated they are. The best door gets a ranking of one, the
second best gets a ranking of two, etc. The numbers of these rankings represent
which level of data?
M
BApp
A.
B.
C.
D.
A
A large manufacturing company in Indianapolis produces valves for the chemical
industry. According to specifications, one particular valve is supposed to have a
five-inch opening on the side. Quality control inspectors take random samples of
these valves just after the hole is bored. They measure the size of the hole in an
effort to determine if the machine is out-of-adjustment. The measurement of the
diameter of the hole represents which level of data?
66.
interval
ordinal
nominal
ratio
M
BApp
A.
B.
C.
D.
B
A marketing demographic survey is undertaken to determine the market potential
for a new product. One of the questions asked is: What type of residence do you
live in? Respondents are offered several possible answers including: house,
apartment, or condominiums. In order to computerize the survey answers, the
responses are coded as a 1 if the answer is "house", a 2 if the answer is an
"apartment", and a 3 if the answer is a "condominium". These numbers, 1, 2, and
3, are an example of what level of data?
67.
E
BApp
A.
B.
C.
D.
ratio
nominal
ordinal
interval
interval
nominal
ordinal
ratio
18
Test Bank
C
68.
A marketing survey is conducted to ascertain the potentiality of several new
products. A series of focus groups is used to conduct this survey. At the end of
one of the sessions, the group members are asked to rank the remaining eight
products in order of desirability. A one indicates the most favored product and an
eight is awarded to the least desirable. The numbers are examples of what level of
data?
M
BApp
A.
B.
C.
D.
C
A business is attempting to find the best small town in the United States in which
to relocate. As part of the investigation, the elevations of all small towns in the
United States are researched. Some towns are located high in the Rockies with
elevations over 8,000 feet. There are even some towns located in the south central
valley of California with elevations below sea level (for example, elevations of
around -100 feet). These elevations can best be described as what level of data?
69.
ratio
interval
ordinal
nominal
M
BApp
A.
B.
C.
D.
D
The unemployment rate is often used as an indicator of a community’s economic
vitality. An unemployment rate is best described as what level of measurement?
70.
nominal
ordinal
interval
ratio
E
BApp
A.
B.
C.
D.
D
The apartment vacancy rate is often used as an indicator of a community’s need
for residential housing construction. The apartment vacancy rate is best described
as what level of measurement?
71.
E
BApp
A.
B.
C.
D.
nominal
ordinal
interval
ratio
nominal
ordinal
interval
ratio
Chapter 1: Introduction to Statistics
A
72.
19
An investor evaluates the performance of her portfolio by calculating the
portfolio’s rate of return. The portfolio’s rate of return can best be described as
what level of data?
M
BApp
A.
B.
C.
D.
D
A business is attempting to find the best small town in the United States in which
to relocate. As part of the investigation, the availability of vocational, technical
education in small towns in the United States are researched. Vocational,
technical education is available within fifty miles of some small town; for others it
is not. The availability of vocational, technical education can best be described as
what level of data?
73.
ratio
interval
ordinal
nominal
M
BApp
A.
B.
C.
D.
B
Colleges and universities often assign numbers as student identification numbers.
These numbers are best categorized as what level of data?
74.
E
App
B
E
App
A.
B.
C.
D.
75.
ratio
interval
ordinal
nominal
interval
nominal
ordinal
ratio
Undergraduate university students are usually classified as freshmen, sophomores,
juniors, and seniors. If numeric codes of 1, 2, 3, and 4 are used to represent these
four categories, the level of data measurement is ________________.
A.
B.
C.
D.
nominal
ordinal
interval
ratio
20
Test Bank
B
76.
M
App
C
At many universities, students are assigned a grade of A, B, C, D, or F at the
completion of each course. These letter grades are translated to 4, 3, 2, 1, and 0
grade (quality) points, respectively. The level of data measurement is
____________.
A.
B.
C.
D.
77.
nominal
ordinal
interval
ratio
Financial institutions are often ranked by the volume of deposits. This ranking is
what level of measurement?
E
BApp
A.
B.
C.
D.
A
A chemical plant in Louisiana has a tank that holds a particular chemical. Every
day, a technician records the meter reading on the side of the tank which tells how
much volume of fluid there is in the tank. Most likely, these volume readings are
what level of data?
78.
ratio
interval
ordinal
nominal
H
BApp
A.
B.
C.
D.
C
Most evening news weather reports in the United States still use Fahrenheit
temperature readings to convey the warmth of the air in various locations across
the country. These Fahrenheit temperature readings would most likely be
categorized as what level of data?
M
App
79.
A.
B.
C.
D.
ratio
interval
ordinal
nominal
ordinal
ratio
interval
nominal
Chapter 1: Introduction to Statistics
D
80.
21
Suppose you want to monitor the success or failure of a day trader in the stock
market. To do this, you assume that the trader starts the day with zero earnings.
At the end of the day you determine how many dollars the trader or lost at the end
of the day. These dollar measurements are most likely which level of data?
M
BApp
A.
B.
C.
D.
A
At the Olympics, the first three places in each event are awarded a medal. The
winner of an event is awarded a 1 to represent first place, the runner-up is
awarded a 2, and the third place finisher is awarded a 3. These numbers, 1, 2, and
3 are what level of data measurement?
81.
E
App
B
A.
B.
C.
D.
82.
unit
nominal
ordinal
interval
ordinal
nominal
ratio
interval
The highest level of data is _______.
E
Term
A.
B.
C.
D.
D
Which type of statistics require that the data be at least interval or ratio level data?
83.
M
Term
B
84.
interval
ratio
nominal
ordinal
A. inferential statistics
B. descriptive statistics
C. nonparametric statistics
D. parametric statistics
Nominal and ordinal data are sometimes classified as _______.
H
Term
A.
B.
C.
D.
D
Which of the levels of data measurement have the highest usage potential? That
is, if you have this level of data, you can analyze it in more ways than with other
levels of data?
85.
metric data
nonmetric data
descriptive data
inferential data
22
Test Bank
E
Term
A.
B.
C.
D.
C
Moody's Investor's Service uses nine ratings of corporate bonds to assist potential
investors assess their risk.
86.
nominal
ordinal
interval
ratio
Rating Meaning
Aaa
Best quality
Aa
High quality
A
Higher medium quality
Baa
Lower medium quality
Ba
Possess speculative elements
B
Lack characteristics of desirable investment
Caa
Poor standing
Ca
Speculative in a high degree
C
Extremely poor prospects
The level of data measurement in Moody's bond ratings is ______________.
M
BApp
A.
B.
C.
D.
ratio
interval
ordinal
nominal
Chapter 1: Introduction to Statistics
B
87.
23
Standard & Poor's Corporation uses nine ratings of corporate bonds to assist
potential investors assess their risk.
Rating Meaning
AAA Highest grade
AA High grade
A Upper medium quality
BBB Medium grade
BB Lower Medium grade
B Speculative
CCC Outright speculations
CC Outright speculations
C Income bonds on which no interest is being paid
DDD In default, with rating indicating relative salvage value
DD In default, with rating indicating relative salvage value
D In default, with rating indicating relative salvage value
The level of data measurement in Standard & Poor's bond ratings is
______________.
M
BApp
A.
B.
C.
D.
D
Mac User's magazine rates products for the Apple Macintosh on a scale from one
mouse to five mice. One mouse indicates low value/performance. Five mice
indicate highest value/performance.
M
App
88.
A.
B.
C.
D.
ratio
ordinal
interval
nominal
nominal
interval
ratio
ordinal
24
Test Bank
D
89.
During a strategy planning session, the executives of Plano Power Plants, Inc.
identified thirty-one significant threats to the future health of the corporation.
Toward the end of the session, Paul Pearson, a management consultant, asked the
executives to rate each threat on a scale of  to . The level of data
measurement in Paul's threat rating is ______________.
M
BApp
A.
B.
C.
D.
A
The RSACi system uses five levels (0, 1, 2, 3, and 4) to provide consumers with
information about the level of sex, nudity, violence, offensive language (vulgar or
hate-motivated) in Web sites. A level 4 site may have crude, vulgar language, or
extreme hate speech; while a level 0 site would not have even the mildest
expletives. The level of data measurement in RSACi rating system is ______.
90.
nominal
interval
ratio
ordinal
M
BApp
A. ordinal
B. interval
C. ratio
D. nominal
B
The ranking of a company in the Fortune 500 is an example of ______ level of
data measurement.
91.
M
BApp
A.
B.
C.
D.
D
A company's Federal Tax I.D. is an example of ______ level of data
measurement.
92.
ratio
ordinal
categorical
nominal
M
BApp
A.
B.
C.
D.
A
The United States trade balance is an example of ______ level of data
measurement.
93.
M
BApp
ratio
ordinal
rank order
nominal
A. ratio
B. ordinal
Chapter 1: Introduction to Statistics
25
C. rank order
D. nominal
D
94.
The telephone area code of clients in the United States is an example of ______
level of data measurement.
M
BApp
A.
B.
C.
D.
A
A corporation's Price/Earrings ratio (P/E) is calculated by dividing its current
earnings per share into current market price per share. P/E is an example of
______ level of data measurement.
95.
ratio
ordinal
rank order
nominal
M
BApp
A.
B.
C.
D.
A
Per capita income for a geographic region is calculated by the number of people
residing in the region into the total personal income of all persons residing in the
region. Per capita income is an example of ______ level of data measurement.
96.
ratio
interval
rank order
nominal
M
BApp
A.
B.
C.
D.
B
Classifying households as low-income, middle-income, or high-income is an
example of ______ level of data measurement.
97.
ratio
ordinal
interval
nominal
M
BApp
A.
B.
C.
D.
C
Which of the following symbols is used to represent a population parameter?
98.
M
Term
nominal
ordinal
ratio
interval
A. 
B. @
C. &
26
Test Bank
D. 