Quantitative Analysis Exam Answers

In: Business and Management

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1) The main purpose of descriptive statistics is to,
<[(((A. summarize data in a useful and informative manner)))
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data

2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
<[(((A. statistics)))
B. descriptive statistics
C. inferential statistics
D. levels of measurement

3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?
A. Qualitative
<[(((B. Continuous)))
C. Attribute
D. Discrete

4) What type of variable is the number of robberies reported in your city?
A. Attribute
B. Continuous
<[(((C. Discrete)))
D. Qualitative
5) What level of measurement is the number of auto accidents reported in a given month?
A. Nominal
B. Ordinal
C. Interval
<[(((D. Ratio)))

6) The names of the positions in a corporation, such as chief operating officer or controller, are examples of what level of measurement?
<[(((A. Nominal)))
B. Ordinal
C. Interval
D. Ratio

7) Shoe sizes, such as 7B, 10D, and 12EEE, are examples of what level of measurement?
A. Nominal
B. Ordinal
<[(((C. Interval)))
D. Ratio

8) Monthly commissions of first-year insurance brokers are $1,270, $1,310, $1,680, $1,380, $1,410, $1,570, $1,180, and $1,420. These figures are referred to as
A. a histogram
<[(((B. raw data)))
C. frequency distribution
D. frequency polygon

9) A small sample of computer operators shows monthly incomes of $1,950, $1,775, $2,060, $1,840, $1,795, $1,890, $1,925, and $1,810. What are these ungrouped numbers called?
A. Histogram
B. Class limits
C. Class frequencies…...

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