# INTRO TO BUSINESS STATISTICS WEIERS 7TH EDITION PDF

Statistics can be used to describe information, to analyze data, to reach conclusions, and to make decisions. Inferential statistics are used to make generalizations, estimates, forecasts, or other judgments about the population from which the data sample is taken. Inferential statistics are involved when a state senator surveys some of her constituents in order to obtain guidance on how she should vote. She is using statistics to make judgments about the population based on the data from the sample. Quantitative variables determine how much of something is possessed. Discrete variables are applicable when we want to count the number of times something occurs.

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It can also be used to predict group membership on the basis of variables that have been measured or observed. What type of sample are they taking? How will they select the sample?

Cluster; They will randomly select some of the areas and take either a sample or census of each area. A manufacturer is introducing a new scientific calculator and wishes to conduct a test of its ease of use. He selects a group of University math majors for his experiment. This is an example of which type of nonprobability sampling? Purposive A wallboard manufacturer is concerned with meeting industry quality standards for its product. Sampling per shift would only increase the cost by 3 to 4 percent and yet be capable of detecting any sub-quality wallboard.

Which type of probability sampling would you recommend the company to use? Stratified What is survey research? A type of research in which we communicate with a sample of individuals in order to generalize on the characteristics of the population from which they were drawn. This question is biased and will most likely lead to many false negative answers.

What is data warehouse? Data warehouse is a large collection of data from inside and outside the company, put together for the express purpose of using sophisticated analytical techniques to uncover patterns and discover interrelationships within the data. What is data mining? Data mining is a procedure by which sophisticated analytical techniques are applied to uncover patterns and discover interrelationships within the data.

How can data mining be useful to a business or other organization? What are some of the analytical tools it employs? Data mining is analogous to physically sifting through great quantities of ore in the quest for gold. It utilizes information and techniques such as descriptive statistics, cross-tabulations, regression, and correlation, but also includes many advanced methods such as factor analysis, cluster analysis, discriminant analysis, and multidimensional scaling, for the purpose of uncovering patterns and discovering interrelationships within the data.

Briefly, what kind of information does the U. Department of Commerce provide in its Census of Housing? This report is published every 10 years and presents voluminous data on such variables as home ownership or rental, type of structure, number of residents, market value, heating source, major appliance, and much more.

Department of Commerce provide in its Census of Population? The Census of Population is the research for which the Bureau of the Census is probably best known. It is conducted every 10 years and provides detailed information on the U. What is the Encyclopedia of Associations, and how can it be useful to the business researcher? The Encyclopedia of Associations identifies industry-related trade associations that collect and disseminate data that are related to their industry.

What is a simple random sample? In a simple random sample, every person or element in the population has an equal chance of being included in the sample. Distinguish between probability and nonprobability sampling.

With probability sampling, each person or element in the population has a known or calculable chance of being included in the sample. A politician wants to estimate the mean age of registered voters in her district.

Unfortunately, she does not have a complete list of households. Describe a sampling plan that would be suitable for her purposes. The politician may use cluster sampling by letting each county in the district represents a cluster. The dean of a college of arts and sciences with six departments wants to estimate the student-hours lost per month due to illness of professors. Describe a sampling plan that would be suitable for estimating the college-wide loss and for comparing departments.

The dean can select stratified random samples where the strata are the six departments. Simple random sampling can be conducted in each department. What are the three major sources of error in survey research?

Sampling error, response error, and nonresponse error Briefly, what kinds of validity must be considered in evaluating experiments? Internal validity refers to whether the independent variable really made the difference in the measurements obtained. External validity asks whether the results of the experiment can be generalized to other people or settings.

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## INTRODUCTION TO BUSINESS STATISTICS 7TH EDITION BY RONALD WEIERS – TEST BANK

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