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QNT 351 Final Exam Guide

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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

D. Raw data

10) The sum of the deviations of each data value from this measure of central location will always be 0.

A. Mode

B. Mean

C. Median...

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