Business Statistics, Canadian Edition Chapter 1 Test Bank

CHAPTER ONE Introduction to Statistics D

1.

The complete collection of all entities under study is called the __________.

E Term

A. B. C. D.

B

A portion (subset) of the entities under study is called the __________.

2.

E Term

A. B. C. D.

sample parameter statistic population

parameter sample population statistic

1

2

Test Bank B 3. Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is leading a study to identify and assess the relative importance of product features. Manuel directs his staff to design a survey questionnaire for distribution to all of Plano’s 954 customers. For this study, the set of 954 customers is a ________________. E BApp

A. B. C. D.

D

Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is leading a study to identify and assess the relative importance of product features. Manuel directs his staff to design a survey questionnaire for distribution to 100 of Plano’s 954 customers. For this study, the set of 100 customers is a ________________.

4.

statistic population parameter sample

E BApp

A. B. C. D.

C

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers. For this study, the set of 1,500 industrial customers is a ________________.

5.

statistic population parameter sample

E BApp

A. B. C. D.

B

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by selecting a focus group of 40 industrial customers. For this study, the set of 40 industrial customers is a ________________.

6.

E BApp

statistic sample population parameter

A. statistic B. sample

Chapter 1: Introduction to Statistics A

7.

C. population D. parameter Abel Alonzo, Director of Human Resources, is exploring the causes of employee absenteeism at Batesville Bottling during the last operating year (January 1, 1999 through December 31, 1999). For this study, the set of all employees who worked at Batesville Bottling during the last operating year is a ________________.

E BApp

A. B. C. D.

B

Abel Alonzo, Director of Human Resources, is exploring the causes of employee absenteeism at Batesville Bottling during the last operating year (January 1, 1999 through December 31, 1999). Personnel records for 50 of the plant's 250 employees are selected for analysis. For this study, the group of 50 employees is a __________.

8.

E BApp B

9.

3

population sample statistic parameter

A. population B. sample C. parameter D. statistic When a person collects information from the entire population, this is called a _______.

E Term

A. sample B. census C. statistic D. parameter

B

Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is leading a study to identify and assess the relative importance of product features. Manuel directs his staff to design a survey questionnaire for distribution to all of Plano’s 954 customers. Manuel is ordering a ____________.

10.

M BApp

A. B. C. D.

statistic from the customers census of the customers sample of the customers sorting of the customers

4

Test Bank D 11. Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is leading a study to identify and assess the relative importance of product features. Manuel directs his staff to design a survey questionnaire for distribution to 100 of Plano’s 954 customers. Manuel is ordering a ____________. M BApp

A. B. C. D.

B

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers Sue is ordering a __________.

12.

statistic from the customers census of the customers sorting of the customers sample of the customers

M BApp

A. B. C. D.

D 13.

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by selecting a focus group of 40 industrial customers. Sue is ordering a __________.

M BApp

A. B. C. D.

A

Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "each and every payroll voucher issued since January 1, 1999." Pinky is ordering a __________________.

14.

M BApp

A. B. C. D.

statistic from the industrial customers census of the industrial customers sample of the industrial customers sorting of the industrial customers

statistic from the industrial customers census of the industrial customers sorting of the industrial customers sample of the industrial customers

census of the payroll records statistic from the payroll records sample of the payroll records sorting of the payroll records

C

15.

Chapter 1: Introduction to Statistics 5 Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "every tenth payroll voucher issued since January 1, 1999." Pinky is ordering a __________________.

M BApp

A. B. C. D.

C

Upon discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered a 100% inspection of all castings drilled on the evening shift. Jack is ordering a ___________________.

16.

census of the payroll records parameter from the payroll records sample of the payroll records sorting of the payroll records

M BApp

A. B. C. D.

A

Upon discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered an inspection of "every fifth casting drilled on the evening shift." Jack is ordering a ___________________.

17.

M BApp B

18.

sample of the castings sorting of the castings census of the castings statistic from the castings

A. sample of the castings B. sorting of the castings C. census of the castings D. parameter from the castings Greek letters are commonly used to represent _______.

M Term

A. B. C. D.

C

Which of the following symbols is used to represent a population parameter?

19.

M Term

A. B. C. D.

sample statistics population parameters descriptive measures inferential statistics

~ # µ ∞

6

Test Bank A 20. Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers. One question on the survey asked the customers to rate “Merchandise is delivered on time” on a scale of 1 to 5, with 1 meaning “never” and 5 meaning “always”. The average response of the 1,500 customers to this question is a _________________. M BApp

A. B. C. D.

C

Abel Alonzo, Director of Human Resources, is exploring the causes of employee absenteeism at Batesville Bottling during the last operating year (January 1, 1999 through December 31, 1999). The average number of absences per employee, computed from the personnel data of all employees, is a ________________.

21.

parameter population sample statistic

M BApp

A. B. C. D.

A

Abel Alonzo, Director of Human Resources, is exploring the causes of employee absenteeism at Batesville Bottling during the last operating year (January 1, 1999 through December 31, 1999). The most appropriate symbol for the average number of absences per employee, computed from the personnel data of all employees, is ________________.

22.

M Term

A. B. C. D.

population sample parameter statistic

µ # ~ ∞

D 23.

Chapter 1: Introduction to Statistics Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "each and every payroll voucher issued since January 1, 1999 to determine the percentage of irregular vouchers." The percentage which Pinky ordered is a __________________.

M BApp

A. B. C. D.

B

Statistics are usually represented by _______.

24.

sample statistic sample parameter sorted order population parameter

M Term

A. Greek letters B. Roman letters C. ordinal data D. interval data

A

Which of the following symbols is used to represent a sample statistic?

25.

7

M Term

A. B. C. D.

S ~ µ ∞

D 26.

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by selecting a focus group of 40 industrial customers. One question asked the focus group customers to rate “Merchandise is delivered on time” on a scale of 1 to 5, with 1 meaning “never” and 5 meaning “always”. The average response of the 40 customers to this question is a _________________.

M BApp

A. B. C. D.

parameter population sample statistic

8

Test Bank A 27. Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "every tenth payroll voucher issued since January 1, 1999 and a calculation of the percentage of irregular vouches in this group." The percentage which Pinky ordered is a __________________. M BApp

A. B. C. D.

D 28.

Abel Alonzo, Director of Human Resources, is exploring the causes of employee absenteeism at Batesville Bottling during the last operating year (January 1, 1999 through December 31, 1999). Personnel records of 50 employees are selected for analysis. (The plant employees 250.) For this study, the average number days absent for these 50 employees is a ________________.

M BApp

A. B. C. D.

C

The lowest level of data measurement is _______.

29.

sample statistic sample parameter sorted order population parameter

population sample parameter statistic

E Term

A. B. C. D.

D 30.

Which of the following operations is meaningful for processing nominal data?

M Term

A. B. C. D.

A

Which scale of measurement has these two properties: linear distance is meaningful and the location of origin (zero) is arbitrary?

E

31.

interval level ordinal level nominal level ratio level

addition multiplication ranking counting

A. interval level

Chapter 1: Introduction to Statistics

9

Term

B. ordinal level C. nominal level D. ratio level

D 32.

Which scale of measurement has these two properties: linear distance is meaningful and the location of origin (zero) is absolute (natural)?

E Term

A. B. C. D.

A

Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers. One question on the survey asked the customers “Which of the following best describes your primary business: a. manufacturing, b. wholesaler, c. retail, d. service.” The measurement level for this question is _________________.

33.

interval level ordinal level nominal level ratio level

E BApp

A. B. C. D.

A

A question in a survey of microcomputer users asked “Which operating system do you use most often: a. Apple OS 7, b. MS DOS, c. MS Windows 95, d. Unix.” The measurement level for this question is _________________.

34.

nominal level ordinal level interval level ratio level

E BApp

A. B. C. D.

C

Which of the following operations is meaningful for processing ordinal data, but is meaningless for processing nominal data?

35.

M Term

A. B. C. D.

nominal level ordinal level interval level ratio level

addition multiplication ranking counting

10

Test Bank

B

36.

Chapter 1: Introduction to Statistics 11 Sue Taylor, Director of Global Industrial Sales, is concerned by a deteriorating sales trend. Specifically, the number of customers is stable at 1,500, but they are purchasing less each year. She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers. One question on the survey asked the customers “How many people does your company employ: a. 0 - 25, b. 26 - 100, c. 101 - 1000, d. 1001+.” The measurement level for this question is __________.

E BApp

A. B. C. D.

C

A consumer has been asked to rank five cars based upon their desirability. This level of measurement is _______.

37.

nominal level ordinal level interval level ratio level

M BApp

A. B. C. D.

C

Morningstar Mutual Funds analyzes the risk and performance of mutual funds. Each mutual fund is assigned an overall rating of one to five stars. One star is the lowest rating, and five stars is the highest rating. This level of measurement is __________.

38.

nominal ratio ordinal interval

E BApp

A. B. C. D.

nominal ratio ordinal interval

D 39.

A level of data measurement that has an absolute zero is called _______.

E Term

A. nominal B. ordinal C. interval D. ratio

12

Test Bank A 40. A person has decided to code a particular set of sales data. A value of 0 is assigned if the sales occurred on a weekday, and a value of 1 means it happened on a weekend. This is an example of _______. E BApp

A. B. C. D.

A

Members of the accounting department's clerical staff were asked to rate their supervisor's leadership style as either (1) authoritarian or (2) participatory. This is an example of _____________.

41.

nominal level data ordinal level data interval level data ratio level data

E BApp

A. B. C. D.

B

A market research analyst has asked consumers to rate the appearance of a new package on a scale of 1 to 5. A 1 means that the appearance is awful while a 5 means that it is excellent. The level of this data is usually considered _______.

42.

nominal level data ordinal level data interval level data ratio level data

M BApp

A. B. C. D.

A

The social security number of employees would be an example of what level of data measurement?

43.

nominal ordinal interval ratio

E BApp

A. B. C. D.

nominal ordinal interval ratio

D 44.

The dollar sales of a restaurant is an example of what level of data measurement?

M BApp

A. B. C. D.

nominal ordinal interval ratio

Chapter 1: Introduction to Statistics

13

14

Test Bank D 45. Grades on a test range from 0 to 100. This level of data is _______. E App C

46.

A. nominal B. ordinal C. interval D. ratio If it were not for the existence of an "absolute zero," ratio data would be considered the same as _______.

E Term

A. B. C. D.

D 47.

Scholastic Aptitude Test scores are an example of what type of measurement scale?

M App

A. B. C. D.

C

Which types of data are normally used with parametric statistics?

48.

nominal ordinal interval descriptive data

nominal ordinal interval ratio

M Term

A. B. C. D.

B

Which types of data are normally used with nonparametric statistics?

49.

ratio and ordinal nominal and ordinal interval and ratio interval and ordinal

M Term

A. B. C. D.

B

Using data from a group to generalize to a larger group involves the use of _______.

50.

M Term

ratio and ordinal nominal and ordinal interval and ratio interval and ordinal

A. descriptive statistics B. inferential statistics C. population derivation

Chapter 1: Introduction to Statistics B

51.

D. sample persuasion A student makes an 82 on the first test in a statistics course. From this, she assumes that her average at the end of the semester (after other tests) will be about 82. This is an example of _______.

M App

A. B. C. D.

C

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 _____________.

52.

15

descriptive statistics inferential statistics nonparametric statistics wishful thinking

M BApp

A. B. C. D.

D 53.

Upon discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered an inspection of "every fifth casting drilled on 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 _______________.

M BApp

A. B. C. D.

C

Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of "each and every payroll voucher issued since January 1, 1999." Five percent of the payroll vouchers contained material errors. This is an example of _______________.

54.

H BApp

A. B. C. D.

descriptive statistics nonparametric statistics inferential statistics nominal data

nonparametric statistics nominal data descriptive statistics inferential statistics

nonparametric statistics nominal data descriptive statistics inferential statistics

16

Test Bank

B

55.

Chapter 1: Introduction to Statistics 17 A new sales person is paid a commission on each sale. This person made $2,000 his first month on the job. From this he concludes that he will make $24,000 during his first year. This is an example of _______.

E BApp

A. B. C. D.

A

A statistics instructor collects information about the background of his students. About 30% have taken economics and about 40% have taken accounting. There are 23 male students and 27 female students in this class. This is an example of _______.

56.

descriptive statistics inferential statistics nonparametric statistics nominal data

E App

A. B. C. D.

B

A market researcher is interested in determining the average income for families in Duval County, Florida. To accomplish this, she takes a random sample of 400 families from the county and uses the data gathered from these families to estimate the average income for families of the entire county. This process is an example of _______.

57.

descriptive statistics inferential statistics nonparametric statistics nominal data

H BApp

A. B. C. D.

A

The Universal Pulp Company has a plant in Portland, Oregon. Management has decided to determine the average number of sick days taken per worker in this plant in 1991. To accomplish this, the management gathers records on all the workers in the plant and averages the number of sick days taken in 1991 by each worker. This process is using _______.

58.

M BApp

A. B. C. D.

descriptive statistics inferential statistics intermediate statistics a census

descriptive statistics inferential statistics company-wide statistics locale-specific statistics

18

Test Bank D 59. The Magnolia Swimming Pool Company wants to determine the average number of years it takes before a major repair is required on one of the pools that the company constructs. The president of the company asks Rick Johnson, a company accountant, to randomly contact fifty families that built Magnolia pools in the past ten years and determine how long it was in each case until a major repair. The information will then be used to estimate the average number of years until a major repair for all pools sold by Magnolia. The average based on the data gathered from the fifty families can best be described as a _______. M BApp

A. B. C. D.

D 60.

The Chamber of Commerce wants to assess its membership's opinions of the North American Free Trade Agreement. Onehundred of the 2,000 members are randomly selected and contacted via telephone. Seventy-five reported an overall favorable opinion, and twenty-five reported an overall unfavorable opinion. The proportion, 0.75, is a ___________.

M BApp

A. B. C. D.

C

What proportion of San Diego voters favor trade restrictions with China? In an effort to determine this, a research team calls every registered voter in San Diego and successfully contacts them. The proportion from the data gathered from the calls most likely is a _______.

61.

M App

A. B. C. D.

sample population parameter statistic

sample population parameter statistic

sample population parameter statistic

D 62.

Chapter 1: Introduction to Statistics 19 A researcher wants to know what the average variation is in altimeters of small, privately owned airplanes. The task of determining this is expensive and time consuming, if even possible, given the large number of such airplanes. The researcher decides to use government records to randomly locate the owners of ten such planes and then get permission to test the altimeters. When the researcher is done, he will use the data gathered from the group of ten to reach conclusions about all small, privately owned airplanes. This process can best be described as _______.

H App

A. B. C. D.

C

A researcher wants to know what the average variation is in altimeters of small, privately owned airplanes. The task of determining this is expensive and time consuming, if even possible, given the large number of such airplanes. The researcher decides to use government records to randomly locate the owners of ten such planes and then get permission to test the altimeters. When the researcher is done, he will use the data gathered from the group of ten to reach conclusions about all small, privately owned airplanes. The data gathered on the group of ten airplanes is best described as _______.

63.

data statistics research statistics descriptive statistics inferential statistics

H App

A. B. C. D.

C

How much inventory do Christmas tree sales lots keep? A researcher goes from location to location around the city counting the number of trees in each lot. These numbers most likely represent what level of data?

64.

M BApp

A. B. C. D.

measurements data statistics parameters.

nominal ordinal ratio interval

20

Test Bank B 65. During the Valentine's season, different offices in a company are encouraged to decorate their doors. A committee then goes around and ranks the doors according to how well decorated they are. The best door gets a ranking of one, the second best gets a ranking of two, etc. The numbers of these rankings represent which level of data? M BApp

A. B. C. D.

A

A large manufacturing company in Indianapolis produces valves for the chemical industry. According to specifications, one particular valve is supposed to have a five-inch opening on the side. Quality control inspectors take random samples of these valves just after the hole is bored. They measure the size of the hole in an effort to determine if the machine is out-of-adjustment. The measurement of the diameter of the hole represents which level of data?

66.

interval ordinal nominal ratio

M BApp

A. B. C. D.

B

A marketing demographic survey is undertaken to determine the market potential for a new product. One of the questions asked is: What type of residence do you live in? Respondents are offered several possible answers including: house, apartment, or condominiums. In order to computerize the survey answers, the responses are coded as a 1 if the answer is "house", a 2 if the answer is an "apartment", and a 3 if the answer is a "condominium". These numbers, 1, 2, and 3, are an example of what level of data?

67.

E BApp

A. B. C. D.

ratio nominal ordinal interval

interval nominal ordinal ratio

C

68.

Chapter 1: Introduction to Statistics 21 A marketing survey is conducted to ascertain the potentiality of several new products. A series of focus groups is used to conduct this survey. At the end of one of the sessions, the group members are asked to rank the remaining eight products in order of desirability. A one indicates the most favored product and an eight is awarded to the least desirable. The numbers are examples of what level of data?

M BApp

A. B. C. D.

C

A business is attempting to find the best small town in the United States in which to relocate. As part of the investigation, the elevations of all small towns in the United States are researched. Some towns are located high in the Rockies with elevations over 8,000 feet. There are even some towns located in the south central valley of California with elevations below sea level (for example, elevations of around -100 feet). These elevations can best be described as what level of data?

69.

ratio interval ordinal nominal

M BApp

A. B. C. D.

nominal ordinal interval ratio

D 70.

The unemployment rate is often used as an indicator of a community’s economic vitality. An unemployment rate is best described as what level of measurement?

E BApp

A. B. C. D.

D 71.

The apartment vacancy rate is often used as an indicator of a community’s need for residential housing construction. The apartment vacancy rate is best described as what level of measurement?

E BApp

A. B. C. D.

nominal ordinal interval ratio

nominal ordinal interval ratio

22

Test Bank A

72.

An investor evaluates the performance of her portfolio by calculating the portfolio’s rate of return. The portfolio’s rate of return can best be described as what level of data?

M BApp

A. B. C. D.

D 73.

A business is attempting to find the best small town in the United States in which to relocate. As part of the investigation, the availability of vocational, technical education in small towns in the United States are researched. Vocational, technical education is available within fifty miles of some small town; for others it is not. The availability of vocational, technical education can best be described as what level of data?

M BApp

A. B. C. D.

B

Colleges and universities often assign numbers as student identification numbers. These numbers are best categorized as what level of data?

74.

ratio interval ordinal nominal

ratio interval ordinal nominal

E App

A. B. C. D.

B

Undergraduate university students are usually classified as freshmen, sophomores, juniors, and seniors. If numeric codes of 1, 2, 3, and 4 are used to represent these four categories, the level of data measurement is ________________.

75.

E App

A. B. C. D.

interval nominal ordinal ratio

nominal ordinal interval ratio

B

76.

Chapter 1: Introduction to Statistics 23 At many universities, students are assigned a grade of A, B, C, D, or F at the completion of each course. These letter grades are translated to 4, 3, 2, 1, and 0 grade (quality) points, respectively. The level of data measurement is ____________.

M App

A. B. C. D.

C

Financial institutions are often ranked by the volume of deposits. This ranking is what level of measurement?

77.

nominal ordinal interval ratio

E BApp

A. B. C. D.

A

A chemical plant in Louisiana has a tank that holds a particular chemical. Every day, a technician records the meter reading on the side of the tank which tells how much volume of fluid there is in the tank. Most likely, these volume readings are what level of data?

78.

ratio interval ordinal nominal

H BApp

A. B. C. D.

C

Most evening news weather reports in the United States still use Fahrenheit temperature readings to convey the warmth of the air in various locations across the country. These Fahrenheit temperature readings would most likely be categorized as what level of data?

79.

M App

A. B. C. D.

ratio interval ordinal nominal

ordinal ratio interval nominal

24

Test Bank D 80. Suppose you want to monitor the success or failure of a day trader in the stock market. To do this, you assume that the trader starts the day with zero earnings. At the end of the day you determine how many dollars the trader or lost at the end of the day. These dollar measurements are most likely which level of data? M BApp

A. B. C. D.

A

At the Olympics, the first three places in each event are awarded a medal. The winner of an event is awarded a 1 to represent first place, the runner-up is awarded a 2, and the third place finisher is awarded a 3. These numbers, 1, 2, and 3 are what level of data measurement?

81.

unit nominal ordinal interval

E App

A. B. C. D.

B

The highest level of data is _______.

82.

ordinal nominal ratio interval

E Term

A. B. C. D.

D 83.

Which type of statistics require that the data be at least interval or ratio level data?

M Term

A. inferential statistics B. descriptive statistics C. nonparametric statistics D. parametric statistics Nominal and ordinal data are sometimes classified as _______.

B

84.

interval ratio nominal ordinal

H Term

A. B. C. D.

metric data nonmetric data descriptive data inferential data

D 85.

Which of the levels of data measurement have the highest

Chapter 1: Introduction to Statistics 25 usage potential? That is, if you have this level of data, you can analyze it in more ways than with other levels of data? E Term

A. B. C. D.

C

Moody's Investor's Service uses nine ratings of corporate bonds to assist potential investors assess their risk.

86.

nominal ordinal interval ratio

Meaning Best quality High quality Higher medium quality Lower medium quality Possess speculative elements Lack characteristics of desirable investment Poor standing Speculative in a high degree Extremely poor prospects The level of data measurement in Moody's bond ratings is ______________. M BApp

A. B. C. D.

ratio interval ordinal nominal

26

Test Bank B 87. Standard & Poor's Corporation uses nine ratings of corporate bonds to assist potential investors assess their risk. Meaning AAA Highest grade AA High grade A Upper medium quality BBB Medium grade BB Lower Medium grade B Speculative CCC Outright speculations CC Outright speculations C Income bonds on which no interest is being paid DDD In default, with rating indicating relative salvage value DD In default, with rating indicating relative salvage value D In default, with rating indicating relative salvage value The level of data measurement in Standard & Poor's bond ratings is ______________. M BApp

A. B. C. D.

ratio ordinal interval nominal

D 88.

Mac User's magazine rates products for the Apple Macintosh on a scale from one mouse to five mice. One mouse indicates low value/performance. Five mice indicate highest value/performance.

M App

A. B. C. D.

nominal interval ratio ordinal

D 89.

Chapter 1: Introduction to Statistics 27 During a strategy planning session, the executives of Plano Power Plants, Inc. identified thirty-one significant threats to the future health of the corporation. Toward the end of the session, Paul Pearson, a management consultant, asked the executives to rate each threat on a scale of M to MMMMM. The level of data measurement in Paul's threat rating is ______________.

M BApp

A. B. C. D.

A

The RSACi system uses five levels (0, 1, 2, 3, and 4) to provide consumers with information about the level of sex, nudity, violence, offensive language (vulgar or hate-motivated) in Web sites. A level 4 site may have crude, vulgar language, or extreme hate speech; while a level 0 site would not have even the mildest expletives. The level of data measurement in RSACi rating system is ______.

90.

nominal interval ratio ordinal

M BApp

A. ordinal B. interval C. ratio D. nominal

B

The ranking of a company in the Fortune 500 is an example of ______ level of data measurement.

91.

M BApp

A. B. C. D.

D

A company's Federal Tax I.D. is an example of ______ level of data measurement.

92.

ratio ordinal categorical nominal

M BApp

A. B. C. D.

A

The United States trade balance is an example of ______ level of data measurement.

93.

M BApp

ratio ordinal rank order nominal

A. ratio B. ordinal C. rank order

28

Test Bank D. nominal D

94.

The telephone area code of clients in the United States is an example of ______ level of data measurement.

M BApp

A. B. C. D.

A

A corporation's Price/Earrings ratio (P/E) is calculated by dividing its current earnings per share into current market price per share. P/E is an example of ______ level of data measurement.

95.

ratio ordinal rank order nominal

M BApp

A. B. C. D.

A

Per capita income for a geographic region is calculated by the number of people residing in the region into the total personal income of all persons residing in the region. Per capita income is an example of ______ level of data measurement.

96.

ratio interval rank order nominal

M BApp

A. B. C. D.

B

Classifying households as low-income, middle-income, or high-income is an example of ______ level of data measurement.

97.

ratio ordinal interval nominal

M BApp

A. B. C. D.

C

Which of the following symbols is used to represent a population parameter?

98.

M Term

A. B. C. D.

nominal ordinal ratio interval

σ @ & ∞

Chapter 1: Introduction to Statistics

29