Test bank For BSTAT 1st Edition by Gerald Keller

Test bank For BSTAT 1st Edition by Gerald Keller

CHAPTER 1:  WHAT IS STATISTICS?

TRUE/FALSE

1. The significance level measures the proportion of the time an inference about a population will be correct in the long run.

ANS:   F                      NAT:   Analytic; Statistical Inference

2. A summary measure that is computed from a sample is called a statistic.

ANS:   T                      NAT:   Analytic; Statistical Inference

3. The confidence level is the proportion of times that an estimating procedure will be wrong in the long run.

ANS:   F                      NAT:   Analytic; Statistical Inference

4. A resort employs 3,500 managers and staff. To ascertain their employees’ opinions of a proposed health insurance plan, 350 employees are surveyed at random. The proportion of the 350 employees who favor the health insurance plan represents a parameter in this scenario.

ANS:   F                      NAT:   Analytic; Statistical Inference

5. In a sample of 350 students selected from a large college of business, 25% are found to be marketing majors. The 25% is a statistic.

ANS:   T                      NAT:   Analytic; Statistical Inference