Statistical Analysis for Business Practice Exam
Course Introduction
Statistical Analysis for Business introduces students to the fundamental concepts and techniques of statistics as they apply to business decision-making. The course covers data collection, descriptive statistics, probability distributions, sampling, hypothesis testing, correlation, and regression analysis. Emphasis is placed on interpreting statistical results in business contexts and using statistical software to analyze real-world business data. By the end of the course, students will be able to apply statistical methods to solve practical business problems, make informed decisions, and effectively communicate data-driven insights.
Recommended Textbook
Basic Marketing Research Using Microsoft Excel Data Analysis 3rd Edition by Alvin C. Burns
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Page 2
Chapter 1: An Introduction to Marketing Research
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Sample Questions
Q1) What is the purpose of the "internal reports system" subsystem of the marketing information system?
A)to obtain everyday information about pertinent developments in the environment
B)to supply collected data that may be accessed and analyzed using tools and techniques that assist managers in decision making
C)to gather information generated by internal reports, which includes orders, billing, receivables, inventory levels, stock-outs, among others
D)to generate the particular information needed for the specific situation
E)to gather information not gathered by the other MIS component subsystems
Answer: C
Q2) Studies that deal with monitoring marketing performance are control studies. A)True
B)False Answer: True
Q3) Because marketing research studies are continuous they cannot be referred to as "projects."
A)True
B)False
Answer: False
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Page 3
Chapter 2: The Marketing Research Industry
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Sample Questions
Q1) Over the years,the Top 50 firms have powered their growth largely by:
A)good contracts
B)commodities sharing
C)merger and acquisition
D)alliance sharing
E)excellent customer service
Answer: C
Q2) It has been estimated that firms spend over 10% of sales on marketing research,whether it is supplied internally or externally.
A)True
B)False
Answer: False
Q3) "Sugging" is considered unethical and illegal.
A)True
B)False
Answer: True
Q4) "Frugging" is considered unethical and illegal.
A)True
B)False
Answer: False
Page 4
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Chapter 3: The Marketing Research Process Including the
Problem and Research Objectives
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Sample Questions
Q1) A research objective should specify from whom information is to be gathered.
A)True
B)False Answer: True
Q2) An "ITB" in research is an "invitation to buy."
A)True
B)False
Answer: False
Q3) Which of the following is a possible decision alternative (as discussed in the book)?
A)Price changes
B)Product modification
C)Product improvement
D)both B and C
E)all of the above
Answer: E
Q4) Causal research designs are called experiments.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Research Design Alternatives and Qualitative Research
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Sample Questions
Q1) There are three broad classes of test marketing.
A)True
B)False
Q2) The convenience store example discussed in your textbook illustrates that when we don't know what problem is,we should use:
A)problem definition websites
B)experiments
C)internal supplier firms
D)exploratory research
E)descriptive research
Q3) In experimental designs an R stands for:
A)restricted use of complex variables
B)random assignment of research subjects (e.g. stores)to groups (experimental and control)
C)random assignment of treatments to either the independent or the dependent variables
D)the reliable variable
E)There is no R in experimental design terminology.
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Chapter 5: Information Types and Sources: Secondary Data
and Standardized Information
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Sample Questions
Q1) Which of the following best describes CRM?
A)Certificate for Record Management; awarded by the MRA after passing certain record-keeping requirements
B)Customer Relationship Management; the use of internal databases to strengthen customer relationships
C)Certified Record Manager; awarded by the MRA for successfully passing a series of courses related to database management
D)Customer Recognition Managers; used to identify customers from non-customers primarily in airports for purposes of security
E)none of the above; there is no such thing as CRM
Q2) External data may be grouped into which three sources?
A)published, syndicated services data, and databases
B)published, non-published data, and other
C)syndicated services data, external data, and complex data
D)published external, published internal, and syndicated data
E)non published external, published internal, and non-published internal
Q3) Standardized services are marketing a process.
A)True
B)False
Page 7
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Chapter 6: Data Collection Methods
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Sample Questions
Q1) Self-selection bias is a factor to consider in mail surveys.
A)True
B)False
Q2) An advantage of in-office interviews is that they have low costs.
A)True
B)False
Q3) Some of the major advantages of using online surveys are:
A)easy to use SPAMBOTS to collect email addresses ; this lowers the cost and increases speed
B)real time access to data and availability of many respondents by sending out randomly selected emails
C)low cost, speed, and sample representativeness
D)representativeness and verifiability of samples
E)fast, easy and inexpensive
Q4) Choice of data collection method should be objective and not based on cultural or infrastructure considerations.
A)True
B)False
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Chapter 7: Measurement Scales
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Sample Questions
Q1) The process of developing response formats that are very clear and that are used identically by the various respondents is called scale development.
A)True
B)False
Q2) Which type of scaled-response format contains bi-polar words such as "hot-cold," "wet-dry," "convenient-inconvenient," and so on?
A)constant sum scale
B)life-style inventory
C)semantic differential scale
D)synthetic action/ information/ online format
E)none; these are not measured by scaled-response formats
Q3) If a researcher is confident that few,if any,respondents will use the negative side of a symmetric scale,he/she may opt for a non-symmetric scale.If in doubt,the researcher should pretest the scale.
A)True
B)False
Q4) If you use a categorical measure,you can calculate an average.
A)True
B)False
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Chapter 8: Designing Data Collection Forms
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Sample Questions
Q1) Which of the following is NOT a basic rule for questionnaire coding?
A)Every closed-ended question should have a code number associated with every possible response.
B)Use single-digit code numbers, beginning with "1," incrementing them by one and using the logical direction of the response scale.
C)Use the same coding system for questions with identical response options regardless of where these questions are positioned in the questionnaire.
D)Remember that a "check all that apply" question is simply a special case of a "yes" or "no" question, so use a "1" (="yes")and "0" (="no")coding system. You will want to consider each concept being tested as a separate question.
E)When possible, set up the coding system as soon as possible after the questionnaire is finalized.
Q2) Many of the software programs for questionnaire design have provisions for data analysis,graphic presentation,and report formats of results.
A)True
B)False
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Chapter 9: Determining Sample Size and the Sample Plan
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Sample Questions
Q1) Invitation online sampling is when potential respondents are alerted that they may fill out a questionnaire that is hosted at a specific website.
A)True
B)False
Q2) A mall survey is an example of convenience sampling.
A)True
B)False
Q3) A(n)________ sample is any other allocation that would occur if we based our sample size per stratum not on its proportionate share of the population but on its variance as per our sample size formula.
A)unequal
B)proportionate
C)disproportionate
D)restrictive
E)variable
Q4) Online or Internet surveys are popular because of their speed and low cost.
A)True
B)False
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11
Chapter 10: Data Issues and Inputting Data Into Xl Data
Analyst
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Q1) What is the name of the data analysis software that comes with your book?
A)SPSS
B)SAS
C)Mini-Tab
D)XL Data Analyst
E)SYSSTAT
Q2) The book that contains a list of all the variable names and the code numbers associated with each possible response to each question is called the "data matrix register."
A)True
B)False
Q3) Fieldworkers may make errors collecting data but they are never intentional.
A)True
B)False
Q4) The use of value codes and value labels depends on the nature of the variable.
A)True
B)False
Q5) Break-offs,item omissions,and problem respondents are uncommon in the industry.
A)True
B)False
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Chapter 11: Summarizing Your Data
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Q1) The percentage distribution is a summary of the number of times each and every category appears for the entire sample.
A)True
B)False
Q2) The summary of the percent of times each and every category appears for the entire sample is called the:
A)mode
B)mean
C)categorical percentage rate
D)percentage distribution
E)frequency distribution
Q3) Thinking of a standard deviation and the shape of the distribution,the distribution is "stretched out at both ends" (flat)when the standard deviation is:
A)high
B)moderate
C)low
D)very high
E)none of the above; the two concepts are not related
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Chapter 12: Generalizing Your Findings
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Sample
Questions
Q1) If you took many,many samples and plotted the sample percentage for all these samples as a frequency distribution,the distribution would approximate the normal curve and is called the sampling distribution.
A)True
B)False
Q2) The proper command sequence using your XL Data Analyst to generate a confidence interval for a percentage is:
A)ANALYZE; GENERATE; CONFIDENCE INTERVAL; PERCENTAGE
B)ANALYZE; COMPARE MEANS; CONFIDENCE INTERVAL; MEAN
C)ANALYZE; COMPARE TWO PERCENTS; CONFIDENCE INTERVAL
D)GENERALIZE; CONFIDENCE INTERVAL; PERCENTAGE
E)ANALYZE; DESCRIPTIVES; CONFIDENSE INTERVAL
Q3) When computing standard error,if the sample size increases while the variability remains the same,then the standard error:
A)decreases
B)increases
C)remains the same
D)is about average
E)none of the above; there is no such thing as standard error
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Page 14
Chapter 14: Determining Relationships
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Sample Questions
Q1) As with normal distributions,there are numbers that you can memorize that allow you to determine if a chi-square value is significant.
A)True
B)False
Q2) The term labels implies that the scale is metric,whereas the term levels implies that the scale is categorical.
A)True
B)False
Q3) A question that asks how often a respondent purchases plane tickets would be considered:
A)categorical levels
B)metric levels
C)metric labels
D)categorical labels
E)average levels
Q4) Perhaps the most intuitive relationship between two metric variables is a linear relationship,sometimes called a straight-line relationship.
A)True
B)False
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Chapter 13: Finding Differences
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Q1) When comparing differences between the percentages of two groups and our z is 1.98 at the 95% level of confidence,we may conclude the two percentages are significantly different.
A)True
B)False
Q2) If we wanted to know if there was a statistically significant difference between males and females on the average number of soft drinks they consumed during a week and our test calculated a z of 6.43,this would mean there was no difference in the average number of drinks consumed between the two groups.
A)True
B)False
Q3) ANOVA's ________ hypothesis is that none of all possible group-to-group averages is significantly different: that is,there is not one single significant difference that exists between any possible pair of groups.
A)alternative
B)accurate
C)null
D)true
E)independent
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Page 16
Chapter 15: Preparing and Presenting Your Research Report
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Q1) Figures are words or numbers that are arranged in rows and columns; tables are graphs,charts,maps,pictures,and the like.
A)True
B)False
Q2) Which of the following was listed in the discussion on stylistic devices as something you should use sparingly?
A)action words
B)active voice
C)short paragraphs
D)white space
E)jargon
Q3) Research reports are grouped into three major sections: title,letter of transmittal,results and ending.
A)True
B)False
Q4) In a table,it is wise to report survey data as accurately as possible; using three to four decimal places is desirable.
A)True
B)False
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