Essay about Business Analysis

2764 Words May 20th, 2013 12 Pages
CHAPTER 1 SECTION 1: WHAT IS STATISTICS?

MULTIPLE CHOICE

1. You take a random sample of 100 students at your university and find that their average GPA is 3.1. If you use this information to help you estimate the average GPA for all students at your university, then you are doing what branch of statistics?
|a. |Descriptive statistics |
|b. |Inferential statistics |
|c. |Sample statistics |
|d. |Population statistics
…show more content…
|A descriptive statistic. |
|d. |A sample statistic. |

ANS: B PTS: 1 REF: SECTION 1.1

7. A politician who is running for the office of governor of a state with 4 million registered voters commissions a survey. In the survey, 54% of the 5,000 registered voters interviewed say they plan to vote for her. The population of interest is:
|a. |the 4 million registered voters in the state. |
|b. |the 5,000 registered voters interviewed. |
|c. |the 54% who plan to vote for her. |
|d. |all the residents of the state. |

ANS: A PTS: 1 REF: SECTION 1.1

8. A company has developed a new battery and wants to estimate its average lifetime. A random sample of 500 batteries is tested and the average lifetime of this sample is found to be 225 hours. The 225 hours is the value of a:
|a. |parameter. |

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