Business Statistics Basics
The measurement scale in which the values are categorized to represent qualitative differences and ranked in meaningful manner is classified as
valid scale
discrete scale
ordinal scale
continuous scale
ordinal scale
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In confidence interval estimation, the confidence efficient is denoted byA. 1 + β
B. 1 – β
C. 1 – α
D. 1 + α
The range or set of values which have chances to contain value of population parameter with particular confidence level is considered as
A. secondary interval estimation
B. confidence interval estimate
C. population interval estimate
D. sample interval estimate
The group of observations for which better understanding is needed and the group is related to specific phenomenon is classified as
A. population
B. population statistic
C. phenomenon statistic
D. parameter statistic
The characteristics that are intended to be analyzed and investigated for a given population are classified as
A. exponents
B. constants
C. variables
D. exponential base
The use of statistics in analysis of time when to order and quantity required for the in sourcing or outsourcing of materials is an example of usage of
A. statistics in marketing
B. statistics in production
C. statistics in personnel management
D. statistics in finance
In confidence interval estimation, the formula of calculating confidence interval is
A. point estimate * margin of error
B. point estimate ± margin of error
C. point estimate – margin of error
D. point estimate + margin of error
The statistical method which facilitate the decision making process for population sample results is classified as
A. decisional procedure
B. inferential statistics
C. elementary statistics
D. social methodology
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