Chapter 1

Question 1

What are business statistics?

Answer 1

set of procedures and techniques used to convert data into meaningful information in a business setting.

Question 2

What is inferential statistics?

Answer 2

helps draw conclusions about a population of data based on sample data.

Question 3

What are the four procedures for collecting data?

Answer 3

1. experiment
2. Telephone surveys
3. written questionnaires and surveys
4. direct observations or personal interviews

Question 4

what is a census?

Answer 4

enumeration of the entire set of measurements taken from the population.

Question 5

what are parameters?

Answer 5

numerical measures taken from the population

Question 6

what is a statistic?

Answer 6

numerical measures taken from a sample

Question 7

what are the four types of statistical sampling techniques?

Answer 7

1. simple random sample
2. stratified
3. systematic
4. clusters

Question 8

describe a stratified sampling technique

Answer 8

divide the population into subgroups and each has a like-characteristic.
Random sample from each

Question 9

what is a non-statistical sampling technique?

Answer 9

non-chance

judgment and convenience