Question 1

Which of the following best describes the difference between discrete and continuous data in business statistics?

Accepted Answer

Discrete data are counted and typically represented by whole numbers, while continuous data are measured and can take on any value, including decimals.

Question 2

A frequency distribution is constructed to show the number of data observations that fall into specific intervals. What is a 'class' in this context?

Accepted Answer

A class is a category (row) in a frequency distribution representing a specific interval of data values.

Question 3

Suppose you have a data set of 50 observations. Using the rule $$2^k \geq n$$, what is the lowest value of $$k ($$number of classes) that satisfies the rule?

Accepted Answer

$$k = 6$$

Question 4

Which of the following is NOT a recommended rule when constructing classes for grouped quantitative data?

Accepted Answer

It is desirable to have empty classes to highlight gaps in the data.

Question 5

A relative frequency distribution shows the fraction of observations in each class. If the frequencies for five classes are 5, 8, 14, 13, and 10, what is the relative frequency for the third class?

Accepted Answer

$$\frac{14}{50} = 0.28$$

Question 6

Which type of chart is most appropriate for displaying the cumulative relative frequency distribution of a data set?

Accepted Answer

Ogive

Question 7

In Excel, which function would you use to count the number of times a specific category appears in a qualitative data set?

Accepted Answer

COUNTIF

Question 8

A Pareto chart is used in business statistics to:

Accepted Answer

Display the frequency of categories causing quality control problems in decreasing order, along with a cumulative line.

Question 9

Which of the following statements about histograms is TRUE?

Accepted Answer

Histograms display the number of observations in each class of a frequency distribution for quantitative data.

Question 10

You are analyzing customer wait times at a call center. The data are measured in minutes and include decimal values. Which type of data are you working with?

Accepted Answer

Continuous data

Question 11

A stem and leaf display is most similar to which other graphical representation?

Accepted Answer

Histogram

Question 12

Which of the following is a key difference between a clustered bar chart and a stacked bar chart?

Accepted Answer

Clustered bar charts group several values side by side within the same category, while stacked bar charts group several values in a single column within the same category.

Question 13

Which chart would be most appropriate for comparing the proportions of different product categories in a company's sales data?

Accepted Answer

Pie chart

Question 14

A contingency table is used to:

Accepted Answer

Display the frequencies of two qualitative variables and help identify relationships between them.

Question 15

Which of the following best describes the purpose of a scatter plot in business statistics?

Accepted Answer

To provide a picture of the relationship between two quantitative variables.

Question 16

If a histogram has too few classes, what is a likely consequence?

Accepted Answer

Important patterns in the data may be obscured, and the distribution will be overly summarized.

Question 17

Which Excel feature must be activated to access advanced statistical analysis tools such as histograms and regression?

Accepted Answer

Analysis ToolPak Add-in

Question 18

A business analyst wants to visualize the distribution of customer ages, which range from 18 to 65. The analyst decides to use grouped quantitative data. What is the main reason for grouping the data into classes?

Accepted Answer

To prevent having too many classes, which can make it difficult to detect patterns.

Question 19

Which of the following is TRUE about the cumulative relative frequency distribution?

Accepted Answer

It shows the proportion of observations that are less than or equal to the class at which you are reading.

Displaying Descriptive Statistics: Tools and Techniques in Business Statistics

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