Modern Business Statistics with Microsoft Office Excel 6th Edition by David R. Anderson Test bank

 CityHiLoCondition 
 Acapulco9977pc 
 Bangkok9278pc 
 Mexico City7757sh 
 Montreal7256pc 
 Paris7758  c 
 Rome8868cl 
 Toronto7861  c 
​
a.How many elements are in this data set?
b.How many variables are in this data set?
c.How many observations are in this data set?
d.Name the scale of measurement for each of the variables.
e.Name the variables and indicate whether they are categorical or quantitative.
f.For which variables are arithmetic operations appropriate, and for which are they not appropriate?
 
​
 
ANSWER:  a.7
b.3
c.7
d.Hi: interval, Lo: interval, Condition: nominal
e.Hi: quantitative, Lo: quantitative, Condition: categorical
f.Hi: appropriate, Lo: appropriate, Condition: not appropriate
POINTS:  1
DIFFICULTY:  Easy
REFERENCES:  Data
LEARNING OBJECTIVES:  MBST.ASWC.18.01.02 - 1.2
NATIONAL STANDARDS:  United States - Business Program.1: - Reflective Thinking
KEYWORDS:  Bloom's: Knowledge
 
76. A magazine surveyed a sample of its subscribers. Some of the responses from the survey are shown below.


    Annual Household 
 Subscriber IDSexAgeIncome ($1000s) 
 0006F2245 
 4798M2153 
 2291F3382 
 4988M3830 
  
a.How many elements are in the data set?
b.How many variables are in the data set?
c.How many observations are in the data set?
d.Name the scale of measurement for each of the variables.
e.Which of the above (Sex, Age, Annual Household Income) are categorical, and which are quantitative?
 
f.Are the data time series or cross-sectional?
​
 
ANSWER:  a.4
b.3
c.4
d.Sex: nominal, Age: ratio, Annual Household Income: ratio
e.Sex: categorical, Age: quantitative, Annual Household Income: quantitative
f.cross-sectional
POINTS:  1
DIFFICULTY:  Easy
REFERENCES:  Data
LEARNING OBJECTIVES:  MBST.ASWC.18.01.02 - 1.2
NATIONAL STANDARDS:  United States - Business Program.1: - Reflective Thinking
KEYWORDS:  Bloom's: Knowledge
 
77. A magazine surveys a sample of its subscribers every year. Some of the responses are shown below.


  PercentAverageAverage Annual
 YearFemaleAgeHousehold Income ($1000s)
 19965.835.240
 19978.635.842
 19987.333.941
 19999.235.343
 20009.836.646
​
a.How many variables are in the data set?
b.Name the scale of measurement for each variable.
c.Which of the above (Year, Percent Female, Average Age, Average Annual Household Income) are categorical, and which are quantitative?
 
d.Are the data time series or cross-sectional?
​
​
ANSWER:  a.4
b.Year: interval, Percent Female: ratio, Average Age: ratio, Average Annual Household Income: ratio
 
c.all are quantitative
d.time series
POINTS:  1
DIFFICULTY:  Easy
REFERENCES:  Big Data and Data Mining
LEARNING OBJECTIVES:  MBST.ASWC.18.01.02 - 1.2
NATIONAL STANDARDS:  United States - Business Program.1: - Reflective Thinking
KEYWORDS:  Bloom's: Knowledge
 
78. The following data show the yearly income distribution of a sample of 200 employees at MNM, Inc.


 Yearly Income ($1000s)Number of Employees 
 20 − 24  2 
 25 − 2948 
 30 − 3460 
 35 − 3980 
 40 − 4410 
​
a.What percentage of employees have a yearly incomes of at least $35,000?
b.Is the figure (percentage) that you computed in Part a. an example of statistical inference? If not, what kind of statistics does it represent?
 
c.Based on this sample, the president of the company said that "45% of all our employees' yearly incomes are at least $35,000." The president's statement represents what kind of statistics?
 
d.With the statement made in Part c., can we be assured that more than 45% of all employees' yearly incomes are at least $35,000? Explain.
 
e.What percentage of employees of the sample have a yearly income of less than $30,000?
f.How many variables are presented in the above data set?
g.The above data set represents the results of how many observations?