BSTAT2 2nd Edition By Gerald Keller – Test Bank

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Edition: 2nd Edition

Resource Type: Test bank

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BSTAT2 2nd Edition By Gerald Keller – Test Bank

CHAPTER 1:  WHAT IS STATISTICS?

TRUE/FALSE

1. The significance level measures the proportion of the time an inference about a population will be correct in the long run.

ANS:   F                      NAT:   Analytic; Statistical Inference

1. A summary measure that is computed from a sample is called a statistic.

ANS:   T                      NAT:   Analytic; Statistical Inference

1. The confidence level is the proportion of times that an estimating procedure will be wrong in the long run.

ANS:   F                      NAT:   Analytic; Statistical Inference

1. A resort employs 3,500 managers and staff. To ascertain their employees’ opinions of a proposed health insurance plan, 350 employees are surveyed at random. The proportion of the 350 employees who favor the health insurance plan represents a parameter in this scenario.

ANS:   F                      NAT:   Analytic; Statistical Inference

1. In a sample of 350 students selected from a large college of business, 25% are found to be marketing majors. The 25% is a statistic.

ANS:   T                      NAT:   Analytic; Statistical Inference

1. 35% of a sample of 300 professional baseball players indicated that their parents did not play baseball. Based on this sample, we estimate that approximately 35% of the parents of all professional baseball players did not play baseball, plus or minus 5%. This is an example of using inferential statistics.

ANS:   T                      NAT:   Analytic; Statistical Inference

1. A population is the group of all items of interest to a statistics practitioner.

ANS:   T                      NAT:   Analytic; Statistical Inference

1. A statistic is typically a known quantity while a parameter is typically an unknown quantity.

ANS:   T                      NAT:   Analytic; Statistical Inference

1. Statistical inference is the process of making an estimate, prediction, or decision about a population based on sample data.

ANS:   T                      NAT:   Analytic; Statistical Inference

1. A descriptive measure of a population is called a parameter.

ANS:   T          NAT:   Analytic; Statistical Inference

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