Business Statistics
Chapter Exam Questions
Course Introduction
Business Statistics introduces students to the fundamental concepts and tools of statistics as they apply to business decision-making. The course covers descriptive statistics, probability distributions, sampling methods, hypothesis testing, regression analysis, and the interpretation of data. Emphasis is placed on practical application of statistical techniques to analyze real-world business problems, enabling students to make informed decisions backed by quantitative data. Statistical software and spreadsheets are often utilized to enhance analytical skills and facilitate efficient data analysis.
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Statistics for People Who Think They Hate Statistics Excel 2010 Edition 3rd Edition by Neil J. Salkind
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Page 2
Chapter 1: Statistics or Sadistics? Its Up to You
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Sample Questions
Q1) What is a sample?
Answer: A sample is a smaller subset of data taken from the larger population such as class of undergraduate students in the University.
Q2) Which of the following individuals used statistics methods during the 17th century to study the intelligence of his family members?
A) Charles Darwin
B) Francis Galton
C) Isaac Newton
D) Alfred Binet
Answer: B
Q3) According to the text, statistical procedures were first developed in what field of study?
Answer: Statistical procedures were first developed in the fields of agriculture, astronomy, and politics.
Q4) When might a person use descriptive statistics?
Answer: Descriptive statistics are used to describe the characteristics of a data set.
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Chapter 2: Means to an End: Computing and Understanding Averages
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Q1) Determine the mode of the following set of scores: 10, 15, 12, 18, 19, 16, 12
Answer: The mode is 12
Q2) Who was the inventor of the correlation?
A) Sigmund Freud
B) Charles Darwin
C) Francis Galton
D) Jacob Cohen
Answer: C
Q3) To identify the point in a distribution at which 50% of scores fall above and 50% fall below a given score, which measure of central tendency would you report?
A) average
B) mean
C) mode
D) median
Answer: D
Q4) What are the measures of central tendency discussed in the textbook?
Answer: Mean, median, mode
Page 4
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Chapter 3: Vive La Différence: Understanding Variability
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Q1) What is the s of the following set of scores? 10, 15, 12, 18, 19, 16, 12
Answer: The standard deviation is 3.6
Q2) Variability is a measure of how much each score in a group of scores differs from the what?
A) mode
B) median
C) variability
D) mean
Answer: D
Q3) The three measures of variability commonly used to reflect the spread or dispersion in a group of scores are the standard deviation, the variance, and the what?
A) range
B) outliers
C) skew
D) percentile
Answer: A
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Chapter 4: A Picture Really Is Worth a Thousand Words
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Q1) Which of the following is a method of tallying, and representing, how often a certain score occurs?
A) Class interval
B) Frequency distribution
C) Histogram
D) Polygon
Q2) If you have a distribution of 100 scores and you want 20 intervals, what should be the size of your class interval?
Q3) What are the two types of skewness? Explain each.
Q4) Which of the following refers to a distribution's curve that is relatively flat in comparison to a normal curve?
A) Platykurtic
B) Leptokurtic
C) Positive skew
D) Negative skew
Q5) List the 10 ways to create great figures outlined in the text.
Q6) What is the difference between skewness and kurtosis?
Q7) What is the definition of a cumulative frequency distribution?
Q8) What are the two types of kurtosis? Explain each.
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Chapter 5: Ice Cream and Crime: Computing Correlation
Coefficients
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Q1) Which of the following refers to a correlation between two variables?
A) Bicorrelate
B) Bivariate
C) Two-way variance
D) Two-way analysis
Q2) Which of the following is a measure of central tendency?
A) Mean
B) Variance
C) Correlation
D) Standard deviation
Q3) Write the formula for the Pearson product-moment correlation coefficient.
Q4) How do you determine the coefficient of determination and the coefficient of alienation?
Q5) Which of the following correlations would be interpreted as a moderate relationship?
A) .25
B) .35
C) .45
D) .65
Q6) What does a correlation coefficient represent?
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Chapter 6: Just the Truth: An Introduction to Understanding
Reliability and Validity
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Q1) If you correlate scores from your test with some other valid measure that assesses the same set of abilities, what type of validity evidence are you collecting?
A) Criterion validity
B) Content validity
C) Construct validity
D) Internal consistency
Q2) What would the interrater reliability be for a 50-item measure in which the number of agreements between Rater 1 and Rater 2 was 45?
A) 0.45
B) 80%
C) 0.90
D) 95%
Q3) Which of the following is concerned with monitoring estimates of present performance and predictions of future performance?
A) Content validity
B) Criterion validity
C) Internal validity
D) Construct validity
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Chapter 7: Hypotheticals and You: Testing Your Questions
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Q1) What is the sampling error? What does a high sampling error indicate?
Q2) When might you use a one-tailed test, and when would you want to use a two-tailed test?
Q3) Which of the following symbols represents the first research hypothesis?
A) \(H _ { 1 }\)
B) \(\mu 1\)
C) \(\bar { X } 1\)
D) \(H _ { 0 }\)
Q4) What does "generalizability" mean?
A) Results may be applied to the populations studied
B) Results may apply only to the sample studied
C) Sampling error is high
D) Sample does not represent the population
Q5) In order to help ensure generalizability, which of the following should be true about your sample?
A) It is large
B) It is small
C) It is representative
D) It is nonrepresentative
Q6) Explain what is meant by the fishing trip approach to doing research.
Page 9
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Chapter 8: Are Your Curves Normal? Probability and Why It
Counts
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Sample Questions
Q1) How is the T score calculated?
Q2) When we want to infer from a sample to the population, what assumption must be met?
A) Sample is normally distributed
B) Sample is large
C) Population is normally distributed
D) Population is large
Q3) If the null hypothesis claims that there is no difference between groups, what is the likelihood of no difference occurring assumed to be?
Q4) What is the basis for the normal curve and inferential statistics?
A) Mean
B) Asymptotic
C) Probability
D) Symmetry
Q5) What do standard scores allow researchers to do that raw scores cannot?
Q6) What percentage of scores will fall between the mean and 1 standard deviation above the mean?
10
Q7) If the z score is -.5 in a distribution with a mean of 50 and a standard deviation of 5, what is the raw score?
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Chapter 9:
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Q1) What Greek letter is associated with Type I error?
A) \(\alpha\)
B) \(\beta\)
C) \(\Sigma\)
D) \(\eta\)
Q2) An error that cannot be controlled is called a?
A) Type I error
B) Chance
C) Type II error
D) Probability
Q3) Under the normal curve, if the obtained value falls to the right of the critical value, under what percent of the normal curve did it fall?
Q4) What are the Greek letters associated with Type I and Type II error?
Q5) If you want to examine the difference between the average scores of three unrelated groups, which of the following statistical techniques should you select?
A) Regression
B) t test for dependent samples
C) Analysis of variance
D) t test for independent samples
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Chapter 10: Only the Lonely
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Q1) Excel can apply the Z tests to data arranged in rows or in columns, but the statistical packages present the results typically by.
A) Rows
B) Columns
Q2) What Greek letter represents the population average in a Z Test equation?
A) \(\alpha\)
B) \(V\)
C) \(\eta\)
D) \(\mu\)
Q3) The primary purpose of a Z TEST is?
A) To provide sample values
B) To return the one-tailed probability value
C) To return a significance level
D) To return a chance level
Q4) What can be said about data points and Z Tests?
Q5) If you have a sample of size 60 and a sample mean of 8.3 was selected from a population where ? = 1.2 (the standard deviation for the population), determine the interval for the population average (?) at the 95% confidence interval.
Q6) If the n is less than 30, what should the distribution be?
Page 12
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Chapter 11: t(ea) for Two (Again): Tests Between the Means of Related Groups
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Q1) If the obtained value is greater than the critical value, what should you do?
A) Reject the null hypothesis
B) Accept the null hypothesis
C) Set a higher p value
D) Increase your sample
Q2) What does t critical one-tail represent?
Q3) What does P(T<=t) two-tail represent?
Q4) Given the following, what should you conclude? t<sub>(24)</sub> = 2.001 and t<sub>critical</sub> = 1.94
Q5) Which of the following represents degrees of freedom?
A) fd
B) df
C) d
D) f
Q6) What is another name for a dependent samples t test?
A) Paired sample
B) Two sample
C) Independent sample
D) Freed sample
Q7) What does t stat represent?
Page 13
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Chapter 12: t(ea) for Two (Again): Tests Between the Means of Related Groups
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Sample Questions
Q1) What does t critical one-tail represent?
Q2) What is the test statistic calculated by the statistical procedure selected known as?
A) Critical value
B) Significance level
C) Obtained value
D) p value
Q3) If the obtained value is less than the critical value, what should you do?
A) Reject the null hypothesis
B) Accept the null hypothesis
C) Reduce the p value
D) Decrease your sample
Q4) In the formula that computes a t value, what does n?D represent?
A) Sum of the difference between groups
B) Sum of the means for Group 1
C) Sum of the means for Group 2
D) Sum of the differences squared
Q5) What does t stat represent?
Q6) What does the t test for dependent samples allow you to examine?
Q7) What is the formula for calculating a t value for a dependent samples test?
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Chapter 13: Two Groups Too Many? Try Analysis of Variance
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Q1) What is the F value?
Q2) If the total sample size was 50 and three groups were examined, what is the between-groups degrees of freedom?
Q3) If you wanted to examine whether the level of parental involvement differs based on students' grade in school (i.e., 1st, 2nd, 3rd, etc.), what is the dependent variable of interest?
A) Grade level
B) Students
C) Parents
D) Level of parent involvement
Q4) When computing the degrees of freedom for ANOVA, how is the within-group estimate calculated?
A) n - 1
B) k - 1
C) N - k
D) n/k
Q5) If the total sample size was 50 and three groups were examined, what is the within-groups degrees of freedom?
Q6) When is analysis of variance the appropriate statistical procedure to use?
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Chapter 14: Two Too Many Factors: Factorial Analysis of Variance
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Q1) When analysis of data reveals a difference between levels of a factor, this is called the:
A) Interaction effect
B) Factor effect
C) Level effect
D) Main effect
Q2) When you are interested in finding out if students' achievement level changes over time as a result of a reading intervention, what type of ANOVA would you use?
A) Repeated measures
B) Between-group design
C) Mixed design
D) One-way ANOVA
Q3) What type of design includes an ANOVA where one factor is repeated and the other is not?
A) Repeated design
B) Between-group design
C) Mixed design
D) One-way ANOVA
Q4) What is a multivariate analysis of variance?
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Chapter 15: Cousins or Just Good Friends? Testing
Relationships Using the Correlation Coefficient
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Q1) What two test statistics can be used to test the significance of a correlation coefficient?
Q2) If the correlation between two variables is .496, what is the coefficient of determination?
Q3) If the correlation between two variables is .496, what is the coefficient of determination?
A) 246
B)496
C) 504
D) 754
Q4) What are measures that occur at the same time known as?
A) Predictive measures
B) Longitudinal measures
C) Concurrent measures
D) Consecutive measures
Q5) Measures that occur over a period of time are known as?
A) Predictive measures
B) Longitudinal measures
C) Concurrent measures
D) Consecutive measures
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Chapter 16: Predicting Wholl Win the Super Bowl: Using Linear
Regression
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Q1) Write the equation for linear regression. What do the symbols represent?
Q2) What are the dependent and independent variables usually referred to as in regression?
Q3) In order to use two predictor variables, what must be the case concerning the variables?
Q4) What does X? represent in the multiple regression formula?
Q5) Which of the following is the correct formula for linear regression?
A) X? = aY + b
B) Y? = aX + b
C) Y? = bX + a
D) X? = bY + a
Q6) Which of the following symbols is associated with the y-intercept in the regression equation?
A) X
B) Y
C) a
D) b
19
Q7) When using multiple predictor variables in regression, what are the "big rules" one must follow?
Q8) What is the standard error of estimate? What does it allow us to examine?
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Page 20
Chapter
Chi-Square and Some Other Nonparametric Tests
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Q1) Which of the following is the correct formula for the one-sample chi-square?
A) \(Y = \Sigma ( E + O ) ^ { 2 } / E\)
B) \(\chi ^ { 2 } = \Sigma ( E - O ) ^ { 2 } / E\)
C) \(\chi ^ { 2 } = \Sigma ( E + O ) ^ { 2 } / E\)
D) \(Y ^ { 2 } = \Sigma ( E - O ) ^ { 2 } / E\)
Q2) Why is "goodness of fit" a commonly used name for the one-sample chi-square test?
Q3) What is a two-sample chi-square test also known as?
A) Goodness of fit test
B) Test of independence
C) Wilcoxon rank
D) Mann-Whitney
Q4) Name two other nonparametric procedures, and explain when they would be used.
Q5) Which of the following nonparametric tests is used to compare the magnitude and direction of differences between two groups?
A) Mann-Whitney
B) Wilcoxon rank
C) Spearman rank
D) Fisher's exact
Q6) How is a nonparametric test different from a parametric test? Page 21
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Chapter 18: Some Other (Important) Statistical Procedures
You Should Know About
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Q1) Which of the following is a path analysis technique used to present results in a graphical representation of the relationship between all the different factors under consideration?
A) data mining
B) structural equation modeling
C) covariance
D) ANOVA
Q2) Which of the following advanced procedures is characterized by the use of more than one dependent variable?
A) ANOVA
B) ANCOVA
C) Repeated measures
D) MANOVA
Q3) Which of these is a way to look for patterns in sets of data, which was first used by the business community looking at (and for) financial trends?
A) data mining
B) repeated measures
C) path analysis
D) factor analysis
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