Business Statistics Quiz

Which of the following best describes the primary function of business statistics?

• To increase profits directly

• To provide subjective opinions for decision making

• To collect, analyze, and interpret data for business decision-making

• To replace managerial experience and intuition

Which of the following is an example of descriptive statistics?

• Using sample data to predict next quarter's sales

• Conducting a hypothesis test on customer satisfaction

• Calculating the average monthly revenue of a company

• Estimating the population mean income based on a sample

A retail store tracks the number of customers entering the store each day. What type of data is this?

• Continuous

• Discrete

• Qualitative

• Ordinal

Which of the following is a qualitative data?

• Temperature

• Brand of smartphone

• Number of employees

• Monthly revenue

Which of these is a quantitative data?

• Type of business

• Customer feedback (good, average, bad)

• Price of a product

• Color of a logo

Which of the following is an example of discrete data?

• Height of employees in centimeters

• Time spent on a website

• Number of products sold

• Temperature measured every hour

Continuous data can take on which type of values?

• Only whole numbers

• Only positive numbers

• Any value within a range, including decimals

• Only values below 100

Which of the following best illustrates time-series data?

• Sales figures from different branches at the same time

• Customer preferences by gender

• Revenue data for one company from 2020 to 2024

• Age distribution of employees in 2023

Cross-sectional data is best described as:

• Data collected over time from one subject

• Data from multiple subjects at a single point in time

• Data used to predict future trends

• Data only from surveys

In business decision making, why is inferential statistics important?

• It allows businesses to measure every member of the population

• It simplifies data by summarizing it

• It enables decisions based on predictions and sample analysis

• It avoids the need for data collection