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

a) statistic from the castings
b) census of the castings
c) sample of the castings
d) sorting of the castings
e) parameter of the castings
Answer: b
Difficulty: Medium
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
55. On discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control,
ordered an inspection of every fifth casting drilled during the evening shift. Jack is ordering a
___.
a) statistic from the castings
b) census of the castings
c) sample of the castings
d) sorting of the castings
e) parameter of the castings
Answer: c
Difficulty: Medium
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
56. Using data from a group to generalize about the whole group involves the use of ___.
a) descriptive statistics
b) inferential statistics
c) population derivation
d) sample persuasion
e) relative level data
Answer: b
Introduction to Statistics  1 - 20
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Difficulty: Medium
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
57. A student makes an 82 on the first test in a statistics course. From this, she estimates that
her average at the end of the semester (after other tests) will be about 82. This is an example of
___.
a) descriptive statistics
b) inferential statistics
c) population derivation
d) sample persuasion
e) relative level data
Answer: b
Difficulty: Medium
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
58. 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 ___.
a) descriptive statistics
b) executive forecasting
c) population derivation
d) sample persuasion
e) inferential statistics
Answer: e
Difficulty: Hard
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
59. On discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control,
ordered an inspection of every fifth casting drilled during 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 ___.
1 - 21  test bank for Business Statistics, Third Canadian Edition
Copyright © 2020 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited
a) nonparametric statistics
b) nominal data
c) descriptive statistics
d) inferential statistics
e) judgmental statistics
Answer: d
Difficulty: Hard
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts
Blooms: Knowledge
AACSB: Analytic
60. A salesperson is paid a commission on each sale. This person made $2,000 in their first
month on the job. Based on this the salesperson concludes they will make $24,000 during their
first year. This is an example of ___.
a) inferential statistics
b) nominal data
c) descriptive statistics
d) deferential statistics
e) nonparametric statistics
Answer: a
Difficulty: Hard
Learning Objective: Define important statistical terms, including population, sample, and
parameter, as they relate to descriptive and inferential statistics.
Section Reference: 1.1 Basic Statistical Concepts