Basic Business Statistics MCQ
1. As a general guideline, the research hypothesis should be stated as the _____.
Correct Answer:
Alternative hypothesis
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2. A retailer targeting low income groups is an example of the _____ strategy.
Correct Answer:
Focus
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3. If the time series in an exponential smoothing model exhibits a negative trend, the _____.
Correct Answer:
Forecast will overshoot the actual values
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4. A ____________ variable can have values that are numbers on the real number line.
Correct Answer:
Quantitative
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5. Are subject to validity problems due to evaluator bias.
Correct Answer:
Trait
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6. The form of the continuous uniform probability distribution is _____.
Correct Answer:
Rectangular
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7. The true sampling error is usually not known because ________.
Correct Answer:
µ is unknown
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8. The range of the coefficient of skewness is ____________.
Correct Answer:
Both positive and negative values
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9. Profits or losses incurred by an organization are represented in its _____.
Correct Answer:
Income statement
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10. The fourteenth amendment was critically important for civil liberties because it ________.
Correct Answer:
Helped start the process of selective incorporation of the Bill of Rights
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11. The standard deviation of any uniform probability distribution is ____________.
Correct Answer:
√(b-a)^2 / 12
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12. When the acquired firm has a weak culture, it is best to use the _____ merger strategy.
Correct Answer:
Assimilation
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13. For a data set, half of the observations are always greater than the _______.
Correct Answer:
Median
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14. ________ probability represents the likelihood of a single event occurring by itself.
Correct Answer:
Simple
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15. Business reports that list only totals, with no individual item details, are called ____.
Correct Answer:
Summary reports
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16. According to the action research model, the _____ before diagnosing the need for change.
Correct Answer:
Client-consultant relationship needs to be formed
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17. A paradigm ________.
Correct Answer:
Is a dominant view in science
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18. ______ is any change in the content or organization of long-term memory or behavior.
Correct Answer:
Learning
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19. _____ is the value of a variable that is estimated from a sample.
Correct Answer:
Sample statistic
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20. A pharmaceutical researcher is trying to predict the number of allergic reactions to his developed drug to the age of his volunteers. The number of allergic reactions, in this case, is the ______________ variable.
Correct Answer:
Dependent
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21. Which of the following is a method that arranges your target population into an ordered scheme from which you can choose participants or items at regular intervals?
Correct Answer:
Systematic sampling
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22. Your research shows that there is NO difference between the control and treatment groups. Following this, you decide to ________ the null hypothesis.
Correct Answer:
Accept
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23. The number of hours worked are positively correlated with the number of mistakes made in the workplace. This means that _____________.
Correct Answer:
The more hours worked, the more mistakes made
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24. In probability calculations, the number of ways that an event can occur is divided by ___________:
Correct Answer:
Total number of outcomes
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25. A ________________ tree helps you reach a decision on whether to rehire the same promotions company or prepare a Request for Proposals.
Correct Answer:
Decision
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26. Which is a graphic representation of data based on paired observations?
Correct Answer:
A scatter plot
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27. Testing an entire population to determine its parameters is done rarely because it is _______.
Correct Answer:
Too costly and time consuming
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28. One of the purposes of conducting business research is to make _____________ about future outcomes.
Correct Answer:
Predictions based on data
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29. ______________is a method used frequently in choosing samples from populations that differ in ethnic and socioeconomic status.
Correct Answer:
Stratified sampling
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30. Which of the following provides information about the distribution of the data around the mean?
Correct Answer:
Standard deviation
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31. Regression analysis is used to predict the value of the _________ value from the __________ value.
Correct Answer:
Dependent; independent
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32. To construct a scatterplot, you need at least __________ variables to plot.
Correct Answer:
2
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33. In the linear regression equation, the slope (b1) is the estimated change of _________________
Correct Answer:
Average value of Y as a result of one-unit change in X
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34. Your company investors want a visual representation that outlines the risks and benefits of launching a new product in 2011. To do so, you prepare a ____________ table.
Correct Answer:
Contingency
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35. Customer satisfaction and sales figures have a correlation coefficient value of +0.95. This indicates that ___________.
Correct Answer:
The higher customer satisfaction, the higher sales figures
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36. A decision tree helps you the following management decision EXCEPT:
Correct Answer:
Predict future sales with 100% accuracy
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37. Nominal data uses numbers to indicate a _______________.
Correct Answer:
Classification
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38. The more your data values are spread out, the _________ your range, variance and standard deviation.
Correct Answer:
Greater
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39. In multiple regression analysis, a business researcher must manipulate more than one ________ variable.
Correct Answer:
Independent
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40. Many statistical calculations are based on _____________.
Correct Answer:
Observations
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41. Like with other statistical tools, conclusions drawn from ANOVA depend on the following EXCEPT:
Correct Answer:
Time spent on the analysis
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42. The _________ is generally used to provide an idea about the average value in your data set.
Correct Answer:
Mean
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43. In which of the following methods do the opinions of pre-selected experts solicited in a study?
Correct Answer:
Judgment sampling
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44. The random error term (ei) refers to deviations of individual values from the ____________ of the sample.
Correct Answer:
Mean
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45. All of the following are things that must be considered in business research ethics EXCEPT
Correct Answer:
Researcher cost
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46. Conclusions drawn from a multiple regression analysis depends on all the following factors EXCEPT:
Correct Answer:
Researcher's education
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47. Ordinal numbers or data are concerned with _____________.
Correct Answer:
Rankings
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48. What type of analysis is Estimation?
Correct Answer:
Inferential
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49. When comparing two different samples, an analysis is done on their ___________.
Correct Answer:
Means
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50. As more police officers patrol an intersection, accidents decrease in frequency. This is an example of a _________ correlation.
Correct Answer:
Negative
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51. Which of the following is not an example of Formal Research?
Correct Answer:
A count of the number of cars that pass through a certain intersection every hour.
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52. An up-slope in the trend line of a regression scatterplot means that the correlation between the two variables is ________.
Correct Answer:
Positive
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53. A researcher puts a placebo in a container and administers it to one of his groups. This is the _______ group.
Correct Answer:
Control
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54. Which types of data are called Parametric data?
Correct Answer:
Ratio and Interval
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55. Unlike linear regression analysis, multiple regression can conduct both linear and __________ analysis.
Correct Answer:
Non-linear
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56. Standard deviation is a measure of how well data points _________________ around a central value.
Correct Answer:
Scatter
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57. Regression analysis is based on ______________ statistical tools.
Correct Answer:
Rigorous
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58. Which of the following is NOT an example of central tendency?
Correct Answer:
Total
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59. What is a list of common elements that allows you to access your population?
Correct Answer:
A sampling frame
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60. IBM and Apple are interested in opening stores in the same small Midwestern town. The companies pose ______________ to each other
Correct Answer:
Threat
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61. To study the effectiveness of a new car oil on engines, two sets of cars are split into ______________ and ______________ groups.
Correct Answer:
Treatment; control
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62. Correlation analysis provides information about the relationship between two variables EXCEPT:
Correct Answer:
Cause
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63. In the simple linear regression model, the intercept is the ______________.
Correct Answer:
Crossing of the line at the Y-axis
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64. A ______________ presents data from two sets of observations or variables.
Correct Answer:
Contingency table
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65. ______________ regions are regions that are necessary to make business decisions on a data curve.
Correct Answer:
Critical
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66.
This question is based upon the figure shown below
The mean of the above sample is ______________.
Correct Answer:
37
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67. Gaining information from government archives and data repositories is an example of ______________ data.
Correct Answer:
Secondary
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68. All of the following are advantages of the survey and questionnaires method of business research EXCEPT:
Correct Answer:
Provides causative information
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69.
This question is based upon the figure shown below
In the above table, the probability of choosing a Female that does NOT own a Wii out of the entire sample is:
Correct Answer:
27/70
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70. One of the limitations of multiple regression is that it (is) ______________.
Correct Answer:
Requires a small sample
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71. The population that you are interested in studying is called a ______________.
Correct Answer:
Target Population
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72. Which of the following sample items are chosen from a larger population without any regard for their probabilities or occurrences?
Correct Answer:
Indirect sampling
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73. There are ______________ coefficients that must be calculated in the simple linear regression equation
Correct Answer:
3
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74. What produces a number that takes into account how far every data point differs from the mean calculated for the entire data set?
Correct Answer:
Variance
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75. Which of the following gives you information on the spread or scatter of your data?
Correct Answer:
Measures of dispersion
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76. A Type II error is the probability of ______________ the null hypothesis when it should be ______________.
Correct Answer:
Accepting; rejected
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77. A correlational study is likely to use ______________ research design.
Correct Answer:
Descriptive
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78. Numerical data or measure that describes a sample is ______________.
Correct Answer:
Statistic
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79. When conducting business research, the first step in the process is to formulate a ______________.
Correct Answer:
Research question
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80. A very large random error term (ei) indicates a ______________ relationship between the dependent variable and independent variable(s).
Correct Answer:
Strong
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81. The null hypothesis states that the difference in the means of the treatment and control groups is ______________.
Correct Answer:
Zero
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82. The difference between a ______________ and a ______________ is a very important concept in Business Statistics.
Correct Answer:
Statistic, Population
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83. A scatter plot shows the relationship between Variable X and Variable Y ______________.
Correct Answer:
In a graph format
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84. A good ______________ translates a research question into a format that can be tested using statistical analysis
Correct Answer:
Hypothesis
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85. A marketing specialist is studying the effect of retirement on spending habits. Retirement, in this case, is the ______________ variable.
Correct Answer:
Independent
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86. A stem-and-leaf display is a way to organize ______________ data into chunks?
Correct Answer:
Numerical
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87.
This question is based upon the figure shown below
In the above table, the probability of choosing a Male that Own a Wii out of the entire sample is:
Correct Answer:
24/70
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88. A correlation coefficient of weight and cholesterol (HDL) is deemed to be negative. As weight increases, HDL levels
Correct Answer:
Decrease
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89. ______________ research design is usually used when little information is available about the object of study.
Correct Answer:
Exploratory
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90. Conducting a focus group is an example of ______________ research design.
Correct Answer:
Qualitative
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91. What are the main sources of stress during your workday? is an example of a(an) ______________ question.
Correct Answer:
Open-ended
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92. Correlational analysis is concerned with the ______________ and ______________ of the relationship between two variables.
Correct Answer:
Nature; strength
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93. Which of the following is not a data collection method?
Correct Answer:
Managers' experience
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94. Costco is preparing to give out surveys to all its weekend shoppers as part of its new promotional campaign. This is an example of a ______________ study.
Correct Answer:
Quantitative
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95. The alternative hypothesis states that the difference in the means of the treatment and control groups is ______________.
Correct Answer:
Not equal to zero
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96. Correlation analysis assumes that Variable X and Variable Y are:
Correct Answer:
Independent
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97. The level of significance in ANOVA refers to the chance that you will ______________.
Correct Answer:
Reject the null hypothesis by mistake
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98.
This question is based upon the figure shown below
Which of the above conventions is used to represent the population mean?
Correct Answer:
1
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99. As Variable X changes, Variable Y changes but in only one direction. This is an example of a ______________ relationship.
Correct Answer:
Linear
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Business Statistics MCQs | Topic-wise
