FAR EASTERN UNIVERSITY
INSTITUTE OF ACCOUNTS, BUSINESS AND FINANCE
BUSINESS ADMINISTRATION PROGRAM
SUMMATIVE TEST - PRELIM
Subject Code: MGT1103 Description: Business Statistics No. of Items: 30
Term: 2nd Semester Academic Year: 2019 - 2020 Score: Rating (% or Letter):
Prepared by: Prof. James Philip G. Torrato
Name: Date of Exam:
Course: Time: Day:
General Instructions: 7. The set of measurements collected for an element
1. Complete the required information above. is called a(n) _____.
2. Read and understand each statement carefully. a. census
3. List all answers on a separate word file and save b. variable
the file as ST1_SECTION_FIRSTNAMELASTNAME
c. observation
(example: ST1_SECTION39_JAMESTORRATO)
d. sample
Multiple-Choice: Choose the letter that best fits the 8. The owner of a factory regularly requests a
statements provided. graphical summary of all employees' salaries. The
graphical summary of salaries is an example of _____.
1. Which of the following is an example of a. a sample
quantitative data? b. descriptive statistics
a. the player’s number on a baseball uniform c. statistical inference
b. the serial number on a one-dollar bill d. an experiment
c. the part number of an inventory item 9. Of 800 students in a university, 360, or 45%, live in
d. the number of people in a waiting line the dormitories. The 800 is an example of _____.
2. Which of the following is an example of categorical a. a sample
data? b. a population
a. social security number c. statistical inference
b. score on a multiple-choice exam d. descriptive statistics
c. height, in meters, of a diving board 10. Which of the following is NOT an example of an
d. number of square feet of carpet existing source of data?
3. Facts and figures collected, analyzed, and a. the Internet
summarized for presentation and interpretation are b. internal company records
called _____.
c. U.S. Census Bureau
a. data
d. All of these are examples of existing
b. variables sources of data.
c. elements 11. A researcher is gathering data from four
d. variables and elements geographical areas designated: South = 1; North = 2;
4. The entities on which data are collected are _____. East = 3; West = 4. The designated geographical
a. elements regions represent _____.
b. populations a. categorical data
c. sets b. quantitative data
d. samples c. directional data
5. The set of measurements collected for an element d. either quantitative or categorical data
is called a(n) _____. 12. A portion of the population selected to represent
a. census the population is called _____.
b. variable a. statistical inference
c. observation b. descriptive statistics
d. sample c. a census
6. A characteristic of interest for the elements is d. a sample
called a(n) _____. 13. Data collected over several time periods are _____
a. sample data.
b. data set a. time series
c. variable b. time-controlled
d. observation c. cross-sectional
d. time dependent
14. Data collected at the same, or approximately the Identification: Provide the following requirements.
same, point in time are _____ data.
a. time series 21 -24. A magazine surveys a sample of its
subscribers every year. Some of the responses are
b. static
shown below.
c. cross-sectional
d. one-dimensional Percent Average Average Annual
15. The birth weight of newborns, measured in Household Income
Year Female Age
grams, is an example of _____. ($1000s)
a. categorical data 1996 5.8 35.2 40
b. either categorical or quantitative data 1997 8.6 35.8 42
c. neither categorical nor quantitative data 1998 7.3 33.9 41
d. quantitative data 1999 9.2 35.3 43
16. In an application for a credit card, potential 2000 9.8 36.6 46
customers are asked for their social security a. How many variables are in the data set?
numbers. A social security number is an example of
a _____. b. Name the scale of measurement for each variable.
a. categorical variable
b. quantitative variable c. Which of the above (Year, Percent Female,
c. categorical or quantitative variable, Average Age, Average Annual Household Income)
depending on how the respondents are categorical, and which are quantitative?
answered the question
d. ratio variable d. Are the data time series or cross-sectional?
17. In a questionnaire, respondents are asked to
25 - 27. A recent issue of a national magazine
mark their gender as Male, Female, Transgender
reported that in a national public opinion survey
MtoF, Transgender FtoM, Non-binary, or Intersex.
conducted among 2,000 individuals, 56% were in
Gender is an example of a(n) _____ variable.
favor of gun control, 40% opposed gun control, and
a. categorical 4% had no opinion on the subject.
b. quantitative a. What is the sample in this survey?
c. interval
d. ratio b. Based on the sample, what percentage of the
18. The process of analyzing sample data to draw population would you think is in favor of gun
conclusions about the characteristics of a population control?
is called _____.
a. descriptive statistics Based on the sample, what percentage of the
c. population would you think have no opinion on
b. statistical inference
the subject?
c. data analysis
d. data summarization 28 - 30. The following table shows the starting
Exhibit 1-2 salaries of a sample of recent business graduates.
In a sample of 3,200 registered voters, 1,440, or 45%,
approve of the way the president is doing his job. Number of
Income ($1000s)
Graduates
19. Refer to Exhibit 1-2. The 45% approval is an 15 − 19 40
example of _____. 20 − 24 60
a. a sample 25 − 29 80
b. descriptive statistics 30 − 34 18
c. statistical inference 35 − 39 2
d. a population What percentage of graduates in the sample had
20. The average age in a sample of 90 students at City a.
starting salaries of at least $30,000?
College is 20. From this sample, it can be concluded
that the average age of all the students at City College Of the graduates in the sample, what percentage
_____. b.
had starting salaries of less than $25,000?
a. must be more than 20, since the
population is always larger than the Based on this sample, what percentage of all
sample
c. business graduates do you estimate to have
b. must be less than 20, since the sample is starting salaries of at least $20,000?
only a part of the population
c. could not be 20
d. could be larger, smaller, or equal to 20
MGT1103: Summative Test - PRELIM Page 2
Second Semester, AY2019-2020
