Reading 7: Statistical Concepts and Market Returns-LOS a, (P 2010, statements, following, between, center

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Session 2: Quantitative Methods: Basic Concepts
Reading 7: Statistical Concepts and Market Returns

LOS a, (Part 1): Differentiate between descriptive statistics and inferential statisitics, and between a population and a sample.

 

 

 

Which of the following statements regarding the terms population and sample is least accurate?

A) A sample's characteristics are attributed to the population as a whole.

B) A descriptive measure of a sample is called a statistic.

C) A sample includes all members of a specified group.

bmaggie

Which of the following statements regarding the terms population and sample is least accurate?

A) A sample's characteristics are attributed to the population as a whole.

B) A descriptive measure of a sample is called a statistic.

C) A sample includes all members of a specified group.

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A population includes all members of a specified group. A sample is a portion, or subset of the population of interest.

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Which of the following statements about statistical concepts is least accurate?

A) A frequency distribution is a tabular display of data summarized into a relatively small number of intervals.

B) A parameter is any descriptive measure of a population characteristic.

C) A sample contains all members of a specified group, but a population contains only a subset.

bmaggie

Which of the following statements about statistical concepts is least accurate?

A) A frequency distribution is a tabular display of data summarized into a relatively small number of intervals.

B) A parameter is any descriptive measure of a population characteristic.

C) A sample contains all members of a specified group, but a population contains only a subset.

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A population is defined as all members of a specified group, but a sample is a subset of a population.

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A summary measure that is computed to describe a population characteristic from a sample is called a:

A) census.

B) parameter.

C) statistic.

bmaggie

A summary measure that is computed to describe a population characteristic from a sample is called a:

A) census.

B) parameter.

C) statistic.

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When sampling from a portion of the population, you compute a statistic to make inferences about the population.

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Which one of the following alternatives best describes the primary use of inferential statistics? Inferential statistics are used to:

A) summarize the important characteristics of a large data set based on statistical characteristics of a smaller sample.

B) make forecasts, estimates or judgments about a large set of data based on statistical characteristics of a smaller sample.

C) make forecasts based on large data sets.

bmaggie

Which one of the following alternatives best describes the primary use of inferential statistics? Inferential statistics are used to:

A) summarize the important characteristics of a large data set based on statistical characteristics of a smaller sample.

B) make forecasts, estimates or judgments about a large set of data based on statistical characteristics of a smaller sample.

C) make forecasts based on large data sets.

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Inferential statistics are used mainly to make forecasts, estimates or judgements about a large set of data based on statistical characteristics of a smaller set of data.

bmaggie

Which one of the following alternatives best describes the primary use of descriptive statistics? Descriptive statistics are used to:

A) obtain data about the characteristics of any data set that can be used to assess the likelihood of the occurrence of future events.

B) summarize important characteristics of large data sets.

C) arrive at estimates regarding a large set of data regarding the statistical characteristics of a smaller sample.

bmaggie

Which one of the following alternatives best describes the primary use of descriptive statistics? Descriptive statistics are used to:

A) obtain data about the characteristics of any data set that can be used to assess the likelihood of the occurrence of future events.

B) summarize important characteristics of large data sets.

C) arrive at estimates regarding a large set of data regarding the statistical characteristics of a smaller sample.

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Descriptive statistics are used mainly to summarize important characteristics of large data sets.