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True False Stat 401

The document discusses the importance of statistical knowledge in business decision making and data interpretation. It notes that while collecting large amounts of data is not difficult, meaningful analysis requires an understanding of statistics. It also addresses different levels of data measurement and key statistical concepts like populations, samples, parameters, and statistics.

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Bahauddin Baloch
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We take content rights seriously. If you suspect this is your content, claim it here.
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467 views3 pages

True False Stat 401

The document discusses the importance of statistical knowledge in business decision making and data interpretation. It notes that while collecting large amounts of data is not difficult, meaningful analysis requires an understanding of statistics. It also addresses different levels of data measurement and key statistical concepts like populations, samples, parameters, and statistics.

Uploaded by

Bahauddin Baloch
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

Collection of data is not a big problem but meaningful interpretation of


data requires a sound knowledge of statistics. 

True
Your Answer:

2. Although the size of business is increasing every day, yet there is no


increase in complexities and problems. 

False
Your Answer:

3. In all the functional areas of business, like accounting, finance,


management, and marketing, knowledge of statistics is a key for decision
making. 

True
Your Answer:

4. The use of various statistical software like MS Excel, Minitab, SPSS, and
SAS has reduced the burden of computing. 

True
Your Answer:

5. A researcher need not have proper knowledge of the levels of data


measurement represented by numbers that are to be analyzed. 

False
Your Answer:

6. Personal Identification Number (PIN) is an example of ordinal level data. 

True
Your Answer:
Correct Answer: False
7. The ordinal scale can be used to rank or order objects. 

True
Your Answer:

8. In the interval level measurement, the distance between two consecutive


numbers is not meaningful. 

True
Your Answer:
Correct Answer: False

9. Nominal and ordinal level data are some times referred to as non metric
data. 

True
Your Answer:

10 Interval and ratio level data are some times referred to as metric data. 
.
True
Your Answer:

11 A population is a collection of a few elements, under statistical


investigation. 
.
True
Your Answer:
Correct Answer: False

12 A sample is a portion of population drawn through a valid statistical


procedure. 
.
(blank)
Your Answer:
13 A scientific procedure to make inferences about the population on the
basis of sample comes under descriptive statistics.
.
(blank)
Your Answer:

14 A parameter is a descriptive measure of some characteristics of the


population. 
.
True
Your Answer:

15 A descriptive measure computed from a sample is called a statistic. 


.
True
Your Answer:

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