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

DIFFICULTY:  Easy
REFERENCES:  Statistical Inference
LEARNING OBJECTIVES:  MBST.ASWC.18.01.05 - 1.5
NATIONAL STANDARDS:  United States - Business Program.1: - Reflective Thinking
KEYWORDS:  Bloom's: Knowledge
 
63. A sample of five Fortune 500 companies possessed the following industry codes: banking, banking, finance, retail, and banking. Based on this information, which of the following statements is correct?
 a. Sixty percent of the sample of five companies are banking industries.
 b. Sixty percent of all Fortune 500 companies are banking industries.
 c. Banking is the most common type of industry among all Fortune 500 companies.
 d. If five other Fortune 500 companies were chosen, 60% of them would be banking industries.
 
ANSWER:  a
POINTS:  1
DIFFICULTY:  Easy
REFERENCES:  Statistical Inference
LEARNING OBJECTIVES:  MBST.ASWC.18.01.05 - 1.5
NATIONAL STANDARDS:  United States - Business Program.1: - Reflective Thinking
KEYWORDS:  Bloom's: Knowledge
 
64. The Microsoft Office package used to perform statistical analysis is _____.
 a. SPSS
 b. Word
 c. SAS
 d. Excel
 
ANSWER:  d
POINTS:  1
DIFFICULTY:  Easy
REFERENCES:  Statistical Analysis Using Microsoft Excel
LEARNING OBJECTIVES:  MBST.ASWC.18.01.06 - 1.6
NATIONAL STANDARDS:  United States - Business Program.1: - Reflective Thinking
KEYWORDS:  Bloom's: Knowledge
 
65. Dr. Kurt Thearling, a leading practitioner in the field, defines data mining as “the _____ extraction of _____ information from databases."
 a. thorough, insightful
 b. timely, accurate
 c. automated, predictive
 d. intentional, useful
 
ANSWER:  c
POINTS:  1
DIFFICULTY:  Easy
REFERENCES:  Big Data and Data Mining
LEARNING OBJECTIVES:  MBST.ASWC.18.01.08 - 1.8
NATIONAL STANDARDS:  United States - Business Program.1: - Reflective Thinking
KEYWORDS:  Bloom's: Knowledge
 
66. The major applications of data mining have been made by companies with a strong _____ focus.
 a. consumer
 b. manufacturing
 c. exporting
 d. research and development
 
ANSWER:  a
POINTS:  1
DIFFICULTY:  Easy
REFERENCES:  Big Data and Data Mining
LEARNING OBJECTIVES:  MBST.ASWC.18.01.08 - 1.8
NATIONAL STANDARDS:  United States - Business Program.1: - Reflective Thinking
KEYWORDS:  Bloom's: Knowledge
 
67. Quantitative data that measure "how many" are ________; quantitative data that measure "how much" are ________.
 a. interval; ratio
 b. ratio; interval
 c. continuous; discrete
 d. discrete; continuous
 
ANSWER:  d
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
 
68. Flight time from Cincinnati to Atlanta is an example of a _____ variable and _____ measurement. 
 a. discrete; interval
 b. discrete; ratio
 c. continuous; interval
 d. continuous; ratio
 
ANSWER:  d
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
 
69. Which of the following is NOT a categorical variable?
 a. your age on your last birthday
 b. your cell phone area code
 c. your accounting class start time
 d. your high school graduation year
 
ANSWER:  a
POINTS:  1
DIFFICULTY:  Easy
REFERENCES:  Data
LEARNING OBJECTIVES:  MBST.ASWC.18.01.02 - 1.2
NATIONAL STANDARDS:  United States - Business Program.1: - Reflective Thinking