Introduction to Business Statistics

MGSC 309

Introduction to Business Statistics

MGSC 309 – Mid-term Exam

Name: ____________________

1. How many scales of measurement exist?

a. 1

b. 2

c. 3

d. 4

Answer: d

2. A characteristic of interest for the elements is called a(n)

a. sample

b. data set

c. variable

d. None of the above answers is correct.

Answer: c

3. In a sample of 800 students in a university, 240, or 30%, are Business majors. The 30% is an example of

a. a sample

b. a population

c. statistical inference

d. descriptive statistics

Answer: d

4. Michael, Inc., a manufacturer of electric guitars, is a small firm with 50 employees. The table below shows the hourly wage distribution of the employees.

Hourly Wages (In Dollars) Number of Employees

10 – 13 8

14 - 17 12

18 - 21 20

22 - 25 10

a. How many employees receive hourly wages of at least $14?

b. What percentage of the employees has hourly wages of at least $22?

c. What percentage of the employees has hourly wages of less than $18?

Answers:

a. 42

b. 20%

c. 40%

5. After the graduation ceremonies at a university, six graduates were asked whether they were in favor of (identified by 1) or against (identified by 0) abortion. Some information about these graduates is shown below.

Class

Graduate Sex Age Abortion Issue Rank

Nancy F 52 1 1

Michael M 24 1 2

Tammy F 33 0 4

Edward M 38 0 20

Jennifer F 25 1 3

Tim M 19 0 8

a. How many elements are in the data set?

b. How many variables are in the data set?

c. How many observations are in the data set?

d. Which of the above variables (Sex, Age, Abortion Issue, Class rank) are qualitative and which are quantitative variables?

Answers:

a. 6

b. 4

c. 6

d. Sex: qualitative

Age: quantitative

Abortion Issue: qualitative

Class Rank: qualitative

6. A researcher is gathering data from four geographical areas designated:

South = 1; North = 2; East = 3; West = 4. The designated geographical regions represent

a. qualitative data

b. quantitative data

c. label data

d. either quantitative or qualitative data

Answer: a

7. The sum of the relative frequencies for all