Managing Customer Value

3212 Words13 Pages
Decision Sciences and Management Information Systems

MBA 608 Statistical Models for Business Decisions
Review for Class test #1

1. A summary measure that is computed to describe a characteristic from only a sample of the population is called

a) a parameter. b) a census. c) a statistic. d) the scientific method.

2. The British Airways Internet site provides a questionnaire instrument that can be answered electronically. Which of the 4 methods of data collection is involved when people complete the questionnaire? a) published sources b) experimentation c) surveying d) observation

3. Which of the following is a continuous quantitative
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If X is the weight of school children sampled in a nationwide study, then X is an example of a) a categorical random variable. b) a discrete random variable. c) a continuous random variable. d) a parameter.

14. The manager of the customer service division of a major consumer electronics company is interested in determining whether the customers who have purchased a videocassette recorder made by the company over the past 12 months are satisfied with their products. The population of interest is a) all the customers who have bought a videocassette recorder made by the company over the past 12 months. b) all the customers who have bought a videocassette recorder made by the company and brought it in for repair over the past 12 months. c) all the customers who have used a videocassette recorder over the past 12 months. d) all the customers who have ever bought a videocassette recorder made by the company.

15. True or False: A continuous variable may take on any value within its relevant range even though the measurement device may not be precise enough to record it.

16. True or False: The Coefficient of variation is a measure of dispersion

17. True or False: A statistic is usually used to provide an estimate for a usually unobserved parameter.

18. True or False: The type of TV one owns is an example of an ordinal
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