Business Statistics: For Contemporary Decision Making 3rd Canadian Edition by Ken Black Test bank

b) ordinal level data
c) nominal level data
d) ratio level data
e) relative level data
Ans: b
Difficulty: Easy
Learning Objective: Explain the difference between variables, measurement, and data, and
compare the four different levels of data: nominal, ordinal, interval, and ratio.
Section Reference: 1.2 Variables, Data and Data Measurement
Bloom’s level: Comprehension
AACSB: Analytic
100. You are the owner of a camping site and want to estimate the level of customer satisfaction
among your clients. For this purpose, you select a representative sample of your clients and
offer them a discount on their next visit as compensation for filling out a short questionnaire.
One question specifically says, “How satisfied are you with your experience, on a scale from (1)
to (5), where (1) is ‘very dissatisfied’ and (5) is ‘very satisfied’?” This is an example of _______.
a) interval level data
b) ordinal level data
c) nominal level data
d) ratio level data
e) relative level data
Ans: b
Difficulty: Easy
Learning Objective: Explain the difference between variables, measurement, and data, and
compare the four different levels of data: nominal, ordinal, interval, and ratio.
Section Reference: 1.2 Variables, Data and Data Measurement
Bloom’s level: Comprehension
AACSB: Analytic
101. A business manager has access to a large data set that includes complex information that
would be difficult to process with traditional data management. These data would be referred to
as __________,
a) big data
b) business data
c) mega data
d) business analytics
e) mined data
Ans: a
1 - 37  test bank for Business Statistics, Third Canadian Edition

Difficulty: Medium
Learning Objective: Explain the differences between the four dimensions of big data.
Section Reference: 1.3 Big Data
Bloom’s level: Comprehension
AACSB: Analytic
102. Which of the following would not be a potential source of data for a furniture manufacturing
business?
a) Timber production
b) Social media
c) Customer purchases
d) Operations data
e) Dietary data
Ans: e
Difficulty: Medium
Learning Objective: Explain the differences between the four dimensions of big data.
Section Reference: 1.3 Big Data
Bloom’s level: Comprehension
AACSB: Analytic
103. Big data can be seen as a large amount of either organized or unorganized data that is
analyzed to _________________:
a) confirm and justify a decision.
b) disprove and refute an assumption.
c) make an informed decision or evaluation.
d) structure and design a methodology.
e) process and eliminate.
Ans: b
Difficulty: Medium
Learning Objective: Explain the differences between the four dimensions of big data.
Section Reference: 1.3 Big Data
Bloom’s level: Knowledge
AACSB: Analytic
104. An international social media company stores approximately 300 billion images and 1.2
trillion posts. Given just this information, which of the vectors of big data is the most likely focus
of this company’s data collection?
a) Volume
b) Velocity
c) Variety
d) Veracity
e) Visualization
Ans: a
Difficulty: Medium
Learning Objective: Explain the differences between the four dimensions of big data.
Introduction to Statistics  1 - 38

Section Reference: 1.3 Big Data
Bloom’s level: Knowledge
AACSB: Analytic
105. The need for new methodologies and processing techniques regarding business data has
arisen because _____________
a) big data sources have become too large and complex.
b) privacy issues related to business data sources.
c) national security concerns regarding data sources.
d) the lack of industry needs for big data sources.
e) decrease in availability of data.
Ans: a
Difficulty: Medium
Learning Objective: Explain the differences between the four dimensions of big data.
Section Reference: 1.3 Big Data
Bloom’s level: Knowledge
AACSB: Analytic
106. If a company is concerned that data they have received may contain some false
information they are concerned about the _________ of the data.
a) variety
b) veracity
c) volume
d) velocity
e) valorous
Ans: b
Difficulty: Medium
Learning Objective: Explain the differences between the four dimensions of big data.
Section Reference: 1.3 Big Data
Bloom’s level: Knowledge
AACSB: Analytic
107. If a company receives a lot of data within a short amount of time, then the data has both
________ and ________.
a) variety, velocity
b) velocity, veracity
c) veracity, volume