STAT 201 Business Statistics: Observational Studies Quiz

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28 Questions

What type of statistical studies make no attempt to control the variables of interest?

Observational studies

In an observational study, what is perhaps the most common type of data collection method?

Survey

Which of the following is an example of an observational study mentioned in the text?

Personal interview survey

What type of data do the response categories of 'excellent, good, average, fair, and poor' provide?

Qualitative data

Which term best describes the ratings provided by customers in the questionnaire used by Chops City Grill?

Categorical data

What purpose does the customer opinion questionnaire serve for Chops City Grill?

To maintain high standards for food and service

What is a variable in a data set?

A characteristic of interest for the elements

What is an observation in the context of data?

A set of measurements obtained for a particular element

What term describes the entities on which data are collected?

Elements

What does a data set contain?

Facts and figures collected, analyzed, and summarized

What term is used to refer to summaries of data that are tabular, graphical, or numerical?

Descriptive statistics

Which group is referred to as the larger group of elements in a study?

Population

What is the process of conducting a survey to collect data for the entire population called?

Census

Which type of statistics can be used to provide summaries of information within a dataset?

Descriptive statistics

If data can only be collected from a small portion of a group, what is that smaller group called?

Sample

What term is used to describe the process of conducting a survey to collect data for a sample?

Sample survey

What is the main difference between categorical and quantitative data?

Quantitative data represent attributes while categorical data represent values.

Which scale of measurement is typically used for quantitative data?

Ratio

What type of variable is characterized by having categorical data?

Quantitative variable

Where can Panel Data be sourced from?

Specialized organization like Bloomberg

When are Cross-sectional data collected?

At the same point in time

Which of the following is an example of an existing data source?

Specialized organizations like Bloomberg

What is the purpose of providing a statement of precision when using a sample to estimate a population characteristic?

To inform about the accuracy of the estimate

In the Norris Electronics example, what is the point estimate given for the average lifetime of new lightbulbs?

76 hours

What does a margin of error of 4 hours indicate in the context of the point estimate of average lifetime for new lightbulbs?

It provides a range within which the true average might fall

Why do statisticians use computer software for statistical computations with large datasets?

To make calculations easier and faster

How does providing data files in Minitab or Excel formats facilitate statistical analysis?

By making it easier to input and process data

What does a statistician mean when stating confidence in an interval estimate?

That they are certain about the actual value falling within that interval

Test your knowledge on nonexperimental statistical studies and observational surveys. Learn about the design and administration of questionnaires in personal interview surveys.

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