Business Statistics
Review Questions
Course Introduction
Business Statistics introduces students to the fundamental concepts and methods of statistical analysis as applied to business decision-making. The course covers data collection, organization, and interpretation, as well as the use of descriptive statistics, probability distributions, sampling, hypothesis testing, regression analysis, and correlation. Emphasis is placed on how to analyze real-world business problems using quantitative data, interpret statistical findings, and effectively communicate results to support managerial decisions. Through case studies and hands-on exercises, students develop analytical skills essential for informed business planning and strategy.
Recommended Textbook
Introductory Statistics A Problem Solving Approach 2nd Edition by Stephen Kokoska
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3 Chapters
88 Verified Questions
88 Flashcards
Source URL: https://quizplus.com/study-set/3857
Page 2
Chapter 1: Why Study Statistics
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9 Verified Questions
9 Flashcards
Source URL: https://quizplus.com/quiz/76902
Sample Questions
Q1) The _____ in this text is/are a prescriptive technique and visual aid for problem solving.
A) Solution Trail
B) four statistical inference steps
C) vision or strategy
D) technology
Answer: A
Q2) A crucial prevailing theme in this text is:
A) knowing and understanding underlying formulas.
B) correctly translating words into statistics.
C) computation.
D) statistical inference and decision making.
Answer: D
Q3) The four technology tools presented in this text are the TI-84 Plus C calculator,Excel 2013,Minitab,and
A) SPSS.
B) CrunchIt.
C) JMP.
D) R.
Answer: B
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Chapter 2: An Introduction to Statistics
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53 Verified Questions
53 Flashcards
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Sample Questions
Q1) A professor wishes to record information on some of his students for later use.He arrives to class early and samples the first five students that enter the room.Is this a simple random sample of size 5?
A) yes
B) no
C) It depends on the information the professor seeks from the students.
D) More information is needed to answer the question.
Answer: B
Q2) A group of 20 monitor lizards is observed over the course of the lizards' life spans.The total food consumption of each lizard is recorded and displayed on a bar graph.This presentation of raw information in a more user-friendly format is an example of:
A) inferential statistics.
B) simple random sampling.
C) pictorial statistics.
D) descriptive statistics.
Answer: D
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Chapter 3: Tables and Graphs for Summarizing Data
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26 Verified Questions
26 Flashcards
Source URL: https://quizplus.com/quiz/76900
Sample Questions
Q1) If there are more than two observations on the same person,the data set is:
A) bivariate.
B) multivariate.
C) random.
D) univariate.
Answer: B
Q2) A survey records the average study time spent each week by students at a large university.What type of data are these?
A) continuous
B) discrete
C) qualitative
D) categorical
Answer: A
Q3) A distribution with only one peak is called:
A) single peaking.
B) multimodal.
C) bimodal.
D) unimodal.
Answer: D
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Page 5