STAT 201 Business Statistics: Observational Studies Quiz
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Questions and Answers

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

  • Experimental studies
  • Descriptive studies
  • Correlational studies
  • Observational studies (correct)
  • In an observational study, what is perhaps the most common type of data collection method?

  • Survey (correct)
  • Experimentation
  • Sampling
  • Simulations
  • Which of the following is an example of an observational study mentioned in the text?

  • Controlled trial
  • Personal interview survey (correct)
  • Field experiment
  • Simulation study
  • What type of data do the response categories of 'excellent, good, average, fair, and poor' provide?

    <p>Qualitative data</p> Signup and view all the answers

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

    <p>Categorical data</p> Signup and view all the answers

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

    <p>To maintain high standards for food and service</p> Signup and view all the answers

    What is a variable in a data set?

    <p>A characteristic of interest for the elements</p> Signup and view all the answers

    What is an observation in the context of data?

    <p>A set of measurements obtained for a particular element</p> Signup and view all the answers

    What term describes the entities on which data are collected?

    <p>Elements</p> Signup and view all the answers

    What does a data set contain?

    <p>Facts and figures collected, analyzed, and summarized</p> Signup and view all the answers

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

    <p>Descriptive statistics</p> Signup and view all the answers

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

    <p>Population</p> Signup and view all the answers

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

    <p>Census</p> Signup and view all the answers

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

    <p>Descriptive statistics</p> Signup and view all the answers

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

    <p>Sample</p> Signup and view all the answers

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

    <p>Sample survey</p> Signup and view all the answers

    What is the main difference between categorical and quantitative data?

    <p>Quantitative data represent attributes while categorical data represent values.</p> Signup and view all the answers

    Which scale of measurement is typically used for quantitative data?

    <p>Ratio</p> Signup and view all the answers

    What type of variable is characterized by having categorical data?

    <p>Quantitative variable</p> Signup and view all the answers

    Where can Panel Data be sourced from?

    <p>Specialized organization like Bloomberg</p> Signup and view all the answers

    When are Cross-sectional data collected?

    <p>At the same point in time</p> Signup and view all the answers

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

    <p>Specialized organizations like Bloomberg</p> Signup and view all the answers

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

    <p>To inform about the accuracy of the estimate</p> Signup and view all the answers

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

    <p>76 hours</p> Signup and view all the answers

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

    <p>It provides a range within which the true average might fall</p> Signup and view all the answers

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

    <p>To make calculations easier and faster</p> Signup and view all the answers

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

    <p>By making it easier to input and process data</p> Signup and view all the answers

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

    <p>That they are certain about the actual value falling within that interval</p> Signup and view all the answers

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