Ch 14 (MGMT)

Question 1

What is a trend in data analysis?

Accepted Answer

A general direction of change

Question 2

A manager studies last quarterâ€™s sales to summarize performance. What type of statistics is this?

Accepted Answer

Descriptive

Question 3

What is a population in statistics?

Accepted Answer

The entire group being studied

Question 4

If you want to compare the percentage of sales by region, what should you use?

Accepted Answer

Pie chart

Question 5

What should you check for during data analysis?

Accepted Answer

Changes, differences, and unexpected results

Question 6

What is the primary basis for making data-based decisions?

Accepted Answer

Facts and measures

Question 7

Which statistics help make predictions about the future?

Accepted Answer

Inferential

Question 8

A manager notices a trend in sales data and predicts overall yearly sales. What reasoning is this?

Accepted Answer

Inductive

Question 9

Descriptive statistics help managers by...

Accepted Answer

Explaining current situations

Question 10

What is a sample?

Accepted Answer

A small, representative part of a population

Question 11

When would you present only key points from a longer report?

Accepted Answer

Executive summary

Question 12

Why is it important to focus on the problem when analyzing data?

Accepted Answer

To avoid being distracted by irrelevant info

Question 13

Which type of statistics summarizes current data?

Accepted Answer

Descriptive

Question 14

Predicting future product success based on test market results uses...

Accepted Answer

Inferential statistics

Question 15

Why should you summarize information accurately?

Accepted Answer

To avoid overlooking important data

Question 16

Which would you use to show how sales change over a year?

Accepted Answer

Line graph

Question 17

To compare sales in four regions side by side, which is best?

Accepted Answer

Bar chart

Question 18

A company studies past product launches to predict future launches. What type of reasoning?

Accepted Answer

Inductive

Question 19

Using a general rule to plan specific project outcomes uses what?

Accepted Answer

Deductive reasoning

Question 20

Summarizing customer demographics to understand the current market is an example of...

Accepted Answer

Descriptive statistics

Question 21

What are processed data?

Accepted Answer

Organized and checked data

Question 22

Predicting individual worker output from a company average is using what?

Accepted Answer

Deductive

Question 23

What are raw data?

Accepted Answer

Information not yet processed

Question 24

What type of reasoning uses specific data to draw broader conclusions?

Accepted Answer

Inductive reasoning

Ch 14 (MGMT)

Questions 24

Ch 14 (MGMT)

Questions 24