Business Statistics - Week 1

The number observations in a complete data set having 10 elements and 5 variables is

• 5

• 10

• 15

• 50

When the data are labels or names used to identify an attribute of the elements, the variable has which scale of measurement?

• ordinal

• interval

• nominal

• ratio

When the data have the properties of ordinal data and the interval between observations is expressed in terms of a fixed unit of measure, the variable has which scale of measurement?

• nominal

• interval

• ordinal

• ratio

When the data have the properties of interval data and the ratio of two values is meaningful, the variable has which scale of measurement?

• ratio

• big data

• nominal

• ordinal

Which scale of measurement can be either numeric or nonnumeric?

• interval

• nominal

• nominal and ordinal

• ordinal

Categorical data

• are always nonnumeric

• may be either numeric or nonnumeric

• are always numeric

• indicate either how much or how many

Ordinary arithmetic operations are meaningful

• either with quantitative or categorical data

• only with categorical data

• only with quantitative data

• with rank data

In a questionnaire, respondents are asked to record their age in years. Age is an example of a

• ratio variable

• quantitative variable

• categorical variable

• categorical or quantitative variable, depending on how the respondents answered the question

A Scanner Data User Survey of 50 companies found that the average amount spent on scanner data per category of consumer goods was $387,325 (Mercer Management Consulting, Inc., April 24, 1997). The $387,325 is an example of

• quantitative data

• categorical data

• a descriptive statistic

• Both quantitative data and a descriptive statistic are correct.

In a sample of 800 students in a university, 160, 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

• descriptive statistics

• statistical inference

• a population