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Bob said,"Why study math and statistics? I'm majoring in human resources because it's people that are important in business,not numbers." Argue both for and against Bob's statement.

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Bob is correct in that organizations con...

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A statistical test may be significant yet have no practical importance.

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Business intelligence refers to collecting,storing,accessing,and analyzing data on the company's operations in order to make better business decisions.

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A business data analyst needs a Ph.D.in statistics.

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"Smoking is not harmful.My Aunt Harriet smoked,but lived to age 90." This best illustrates which fallacy?


A) Unconscious bias
B) Significance versus practical importance
C) Post hoc reasoning
D) Small sample generalization

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An example of descriptive statistics would be reporting the percentage of students in your accounting class that attended the review session for the last exam.

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Which best illustrates the distinction between statistical significance and practical importance?


A) "In 2016,240 out of 400 statistics students at Oxnard Technical College sold their textbooks at the end of the semester,compared with 220 out of 330 students in 2015,a significant decrease."
B) "Our new manufacturing technique has increased the life of the 80 GB USB AsimoDrive external hard disk significantly,from 240,000 hours to 250,000 hours."
C) "In 50,000 births,the new vaccine reduced the incidence of infant mortality in Morrovia significantly from 14.2 deaths per 1,000 births to 10.3 deaths per 1,000 births."
D) "The new Sky Penetrator IV business jet's cruising range has increased significantly from 3,975 miles to 4,000 miles."

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Statistics helps surmount language barriers to solve problems in multinational businesses.

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Surveying electric vehicle owners would provide a representative random sample of Americans' views on global warming policies.

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Inferential statistics refers to generalizing from a sample to a population,estimating unknown parameters,drawing conclusions,and making decisions.

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Empirical data are collected through observations and/or experiments.

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"Circulation fell in the month after the new editor took over the newspaper Oxnard News Herald.The new editor should be fired." Which is not a serious fallacy in this conclusion?


A) Generalizing from a small sample
B) Applying post hoc reasoning
C) Failing to identify causes
D) Using a biased sample

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A good data analyst


A) removes data if so instructed by client.
B) works alone to avoid team conflicts.
C) communicates with numbers rather than with graphs.
D) reports findings that may contradict client's ideas.

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Which is not an analytical method commonly used to improve business decisions?


A) Descriptive analytics.
B) Predictive analytics.
C) Prescriptive analytics.
D) Reactive analytics.

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