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1)A knowledge of statistics provides the necessary tools to differentiate between sound and questionable conclusions

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1)A knowledge of statistics provides the necessary tools to differentiate between sound and questionable conclusions.

Statistics is the methodology of extracting useful information from a data set.

_{2. The study of statistics can be defined as?}

_{3. When reading published statistics (numerical facts), you should _________.?}

 

 

4. The branch of statistical studies called descriptive statistics summarizes important aspects of a data set.?

5. Inferential statistics refers to drawing conclusions about a population from analyzing sample data.

6. The two branches of the study of statistics are generally referred to as __________.?

7. Population parameters are difficult to calculate due to _____________.?

8. The teachers union in California wants to know the average salary for high school teachers throughout the country. What will the teachers union presumably calculate?? 9. A population consists of ________________.?

10. In inferential statistics, we calculate statistics of sample data to

 

 

11. A population is a larger data set than its corresponding sample

12. Sample statistics are used to estimate corresponding population parameters

 

13. Typically, it is too expensive, too time-consuming, or even impossible to examine every member of the population

14. Cross-sectional data contain values of a characteristic of many subjects collected at the same or similar point of time.

15. Time series data contains values of a characteristic of a subject over time.

16. Sampling is often necessary due to the potential cost and time of gathering population data

17. Sampling allows researchers to draw conclusions about the population.?

 

18. Which of the following is an example of cross-sectional data? 19. Which of the following is an example of time series data?

20. The estimation of which of the following requires sampling??

21. A company wants to estimate the mean price of oil over the past 10 years. What kind of data does the company need??

22. For which of the following population parameters is sampling not necessary?

23. Sampling is used heavily in manufacturing and service settings to ensure high-quality products. In which of the following areas would sampling be inappropriate??

24. Which of the following are examples of cross-sectional data?? 25. An analyst studies a data set of the 2011 year-end book value per share for all companies listed on the New York Stock Exchange. This data set is best described as ___________.?

26. Which type of data, cross-sectional versus time series, is more important to research?