Applied Statistics for Economics and Business


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A sampling frame is chosen from the target population in a statistical study. The target population must first be defined by a full list or data file of all individuals. When we are choosing a random sample and we do not place chosen units back into the population, we are:. Which method is likely to be used by a journalism student who is casually surveying opinions of students about the university's cafeteria food for an article that she is writing? Systematic random sample C.

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Cluster sample D. Mail surveys are cheap but have low response rates.

Coverage error is when respondents give untruthful answers. Focus groups are nonrandom but can probe issues more deeply. Surveys posted on popular websites suffer from selection bias.


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Which is a time series variable? Net earnings reported by Xena Corp. Dollar exchange rates yesterday against 10 other world currencies D. Titles of the top 10 movies in total revenue last week. A multivariate data set contains:. The Centers for Disease Control and Prevention CDC wants to estimate the average extra hospital stay that occurs when heart surgery patients experience postoperative atrial fibrillation.

They divide the United States into nine regions. In each region, hospitals are selected at random within each hospital size group small, medium, large. In each hospital, heart surgery patients are sampled according to known percentages by age group under 50, 50 to 64, 65 and over and gender male, female. This procedure combines which sampling methods?

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Systematic, simple random, and convenience B. Convenience, systematic, and judgment C. Cluster, stratified, and simple random D. Judgment, systematic, and simple random Selecting every fifth shopper arriving at a store will approximate a random sample of shoppers. Selecting only shoppers who drive SUVs is a stratified sampling method. A census is preferable to a sample for most business problems. Stratified samples are usually cheaper than other methods.

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The brand of jeans you usually wear B. The price you paid for your last pair of jeans C. The distance to the store where you purchased your last pair of jeans D. The number of pairs of jeans that you own Which is a discrete variable? The time it takes to put on a pair of jeans B.

A section of the population we have targeted for analysis is:. Closing checkbook balances of 30 students on December 31 of this year B. Movie attendance at a certain theater for each Saturday last year. A Likert scale with an even number of scale points between "Strongly Agree" and "Strongly Disagree":. Analysts rarely consult business periodicals e.

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Web searches e. Government data sources e. Private statistical databases e. Analysts avoid business periodicals e. Which survey method would you recommend to survey opinions of airline passengers about the cleanliness of the restrooms in the Detroit airport? Why not the others? What kind of sampling method would you suggest in order to tabulate the number of formulas on a typical page of the Doane-Seward textbook? Defend your choice. How would you design a study to see whether drivers using hands-free cell phones are distracted enough to slow their reactions to emergency situations?

Applied statistics for business and economics

How would you collect data? Explain the concept of a focus group. In what ways does a focus group resemble a survey? Why is a moderator desirable? What else is required to make a successful focus group? Learning Objective: Describe basic elements of survey types, survey designs, and response scales.

Topic: Variables and Data. Topic: Level of Measurement. Learning Objective: Recognize levels of measurement in data and ways of coding data. TRUE For temperature, scale distances are meaningful 20 to 25 is the same as 50 to 55 degrees , and 0 degrees Fahrenheit does not mean the absence of heat, so it is not a ratio measurement. Blooms: Apply Difficulty: 2 Medium Learning Objective: Recognize levels of measurement in data and ways of coding data. Topic: Data Sources. Topic: Sampling Concepts. Topic: Sampling Methods.

Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: Describe basic elements of survey types, survey designs, and response scales. Topic: Surveys. Accessibility: Keyboard Navigation Blooms: Apply Difficulty: 2 Medium Learning Objective: Describe basic elements of survey types, survey designs, and response scales.

TRUE An even number of scale points e. Nominal B. Ordinal C. Interval D. Ratio Ranks are clear, but interval would require assumed equal scale distances doubtful. Student's evaluation of a professor's teaching Likert scale Likert scales have no true zero.


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The fuel economy MPG of your car Fuel economy is numerical. A measurement calculated from a sample is a statistic. Ordinal and ratio B. Interval and ordinal C.

Applied Statistics for Economics and Business Applied Statistics for Economics and Business
Applied Statistics for Economics and Business Applied Statistics for Economics and Business
Applied Statistics for Economics and Business Applied Statistics for Economics and Business
Applied Statistics for Economics and Business Applied Statistics for Economics and Business
Applied Statistics for Economics and Business Applied Statistics for Economics and Business
Applied Statistics for Economics and Business Applied Statistics for Economics and Business

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