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 (B)</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 (A)</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 (C)</p> Signup and view all the answers

What is a variable in a data set?

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

What term describes the entities on which data are collected?

<p>Elements (C)</p> Signup and view all the answers

What does a data set contain?

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

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

<p>Population (B)</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 (B)</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 (B)</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 (A)</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 (C)</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. (A)</p> Signup and view all the answers

Which scale of measurement is typically used for quantitative data?

<p>Ratio (B)</p> Signup and view all the answers

What type of variable is characterized by having categorical data?

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

Where can Panel Data be sourced from?

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

When are Cross-sectional data collected?

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

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

<p>Specialized organizations like Bloomberg (D)</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 (B)</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 (C)</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 (A)</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 (C)</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 (A)</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 (B)</p> Signup and view all the answers

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