Project #77011 - Business Statistics

1. Consider the following distribution:
Which of the following would you expect?
A. There's no difference in the values of the mean, median, and mode.
B. The mean is greater than the mode, which in turn is greater than the median.
C. The mean is greater than the median, and the median is greater than the mode.
D. The mean is less than the median, and the median is less than the mode.


2. To answer the question, refer to the following list of raw data.
63, 71, 72, 77, 77, 78, 86, 77, 88, 88
What is the median for the data?
A. 77
B. 88
C. 77.5
D. 77.7


3. Which type of plot takes quantitative data and forms classes out of it, thus turning it into qualitative
data?
A. Stem-and-leaf plot
B. Pie chart
C. Histogram
D. Dot plot


4. Use the following data sample to answer the question.
4, 14, 6, 9, 21, 3, 7, 10
What is the variance of this data sample?
A. 243.5
B. 5.90
C. 34.79
D. 4.31


5. Which of the following involves inferential statistics as opposed to descriptive statistics?
A. A local cable system, using a sample of 500 subscribers, estimates that 40 percent of its subscribers watch a premium channel
at least once per day.
B. A class of 50 statistics students earned an average grade of 73.5.
C. The city business office reported 35 building permits for new single-family housing units.
D. The Alcohol, Tobacco and Firearms department reported that Houston had 1,791 registered gun dealers in 1997.


6. To answer the question, refer to the following data.
Ten students were sampled at random from a student population. Each was asked how many courses he or
she was planning on studying in the upcoming year. The following is a list of the reported data values: 1, 2,
2, 3, 4, 5, 5, 5, 5, 6
What is the variance for the data values?
A. 2.56
B. 2.844
C. 1.6
D. 1.687


7. If there are an odd number of data values in a set, the median will be the
A. average of all of the values divided by the number of values in the set.
B. average of the two end values.
C. value that appears in the center.
D. value that appears the greatest number of times.


8. When creating a histogram, it's important to ensure that the classes of data satisfy which properties?
A. They must include each interval on the number line.
B. No requirements are made; the individual creating the graph is free to choose any classes.
C. They must be mutually exclusive and exhaustive.
D. They must be all the same size.


9. When obtaining data by _______ it's most important to inquire about the purposes of the original
experimenter.
A. performing a designed experiment
B. conducting a survey
C. reading a published source
D. collecting data observationally


10. Which of the following statements is true about a stem-and-leaf plot?
A. It separates data at the decimal point, creating horizontal rows whose values are close together.
B. It uses vertical bars to illustrate a probability distribution.
C. Stem-and-leaf plots are histograms whose bars have been arranged in decreasing order of frequency.
D. It involves creating columns of dots, one for each datum in the sample.


11. Which of the following are parameters of a population?
A. μ and x
B. μ and σ
C. σ and n
D. α and σ


12. A particular sample contains 50 data values. According to Chebyshev's theorem, which of the following
is the number of values you would expect to fall within 3.0 standard deviations of the mean?
A. 25
B. 5
C. 45
D. 35


13. Several ways to make a bar graph deceptive appear below. Which of these is sometimes used to
exaggerate differences from one data value to the next?
A. Making the graph taller than it needs to be
B. Starting the vertical axis at a point greater than zero
C. A gap in the vertical axis
D. Making the graph shorter than it needs to be


14. What is the difference between a histogram and a bar chart?
A. A histogram reflects qualitative data, while the bar chart represents quantitative data.
B. The adjacent rectangles in a histogram have a gap, while those for a bar chart don't.
C. A histogram and a bar chart both reflect qualitative data.
D. The adjacent rectangles in a bar chart have a gap, while those for a histogram don't.


15. Use the following data sample to answer the question.
4, 14, 6, 9, 21, 3, 7, 10
What is the standard deviation of this data sample?
A. 34.79
B. 5.90
C. 4.31
D. 243.5


16. When a sample is taken from a larger population, this suggests that which of the following will be used?
A. Independent events
B. Descriptive statistics
C. Computation of a sample mean
D. Inferential statistics


17. Use the following data sample to answer the question.
4, 14, 6, 9, 21, 3, 7, 10
What is the range of this data sample?
A. 4
B. 18
C. 6
D. 10


18. Use the following data sample to answer the question.
4, 14, 6, 9, 21, 3, 7, 10
What is the median of this data sample?
A. 7
B. 9.25
C. 8
D. There's no median value.


19. A study was conducted of the 12-month earnings per share for two categories of airline companies,
with the result shown in the chart below.
Based on the data, which of the following statements is correct?
Large
Airlines
Small
Airlines
$4.36 $1.60
6.19 –1.98
–0.42 1.03
3.73 –0.21
0.26 –1.15
6.27 4.19
0.59
1.52
1.97
4.57
0.05
A. The large airlines have a standard deviation of 2.88, and the small airlines have a standard deviation of 4.04.
End of exam
B. The large airlines have a mean earnings per share of 3.40, and the small airlines have a standard deviation of 2.01.
C. The large airlines have a variance of 4.04, and the small airlines have a variance of 8.30.
D. The large airlines have a mean earnings per share of 3.40, and the small airlines have a mean earnings per share of 1.22.


20. To answer the question, refer to the following list of raw data.
63, 71, 72, 77, 77, 78, 86, 77, 88, 88
What is the mean for the data?
A. 77.5
B. 77
C. 88
D. 77.7


1. Consider the following data values of variables x and y.
Find the least squares regression line.
x 4 2 6 4 3
y 5 3 7 6 5
A. −1.045 + 0.932x
B. 21.206 + 1.073x
C. 1.659 + 0.932x
D. 1.122 + 1.073x


2. In using the ANOVA models, the assumptions made about the data are
A. all 3 assumptions made here about the data.
B. the population variances are equal.
C. the samples are independent.
D. the population distributions are normal.


3. Another name for the residual term in a regression equation is
A. residual analysis.
B. pooled variances.
C. homoscedasticity.
D. random error.


4. A random sample of males and females involved in rear-end accidents results in the following Minitab
summary:
What is the standard error of the statistic between the two means?
N MEAN MEDIAN TRMEAN STDEV SEMEAN
FEMALES 33 23.91 20.00 23.38 9.77 1.70
MALES 38 28.87 28.50 28.44 9.67 1.57
A. 1.635
B. 0.897
C. 4.96
D. 2.314


5. In testing the difference between two population means using two independent samples, the sampling
distribution of the sample mean difference xÌ„1 − xÌ„2 is normal if the
A. populations are normal.
B. sizes are both greater than 30.
C. populations are nonnormal and the sample sizes are large.
D. population sizes are both greater than 30.


6. A "best-fit" mathematical equation for the values of two variables, x and y, is called
A. scatter diagram.
B. correlation analysis.
C. regression analysis.
D. errors of prediction.


7. A random sample of males and females involved in rear-end accidents results in the following Minitab
summary:
What is the value of the test statistic (Z score)?
N MEAN MEDIAN TRMEAN STDEV SEMEAN
FEMALES 33 23.91 20.00 23.38 9.77 1.70
MALES 38 28.87 28.50 28.44 9.67 1.57
A. −2.14
B. 1.64
C. −4.96
D. 2.32


8. Lily Energy Systems manufacturer's wood-burning heaters and fireplace inserts. One of its systems has
an electric blower, which is thermostatically controlled. The blower is designed to automatically turn on
when the temperature in the stove reaches 125°F and turn off at 85°F. Complaints from customers indicate
that the thermostat control is not working properly. The company feels that the thermostat is acceptable if
the variance in the cutoff temperature is less than or equal to 175. The company takes a sample of 24
thermostats and finds that the variance equals 289. The calculated chi-square test statistic and the table
value for a 0.05 significance level are
A. 37.983, 35.172.
B. 38.076, 38.99.
C. 37.983, 38.076.
D. 35.172, 38.99.


9. A chi-square test for independence with 8 degrees of freedom results in a test statistic of 18.21. Using
the chi-square table, the most accurate statement that can be made about the p-value for this test is that
A. 0.025 > p-value > 0.01.
B. p-value < 0.01.
C. 0.05 > p-value > 0.025.
D. 0.10 > p-value > 0.05.


10. A balanced experiment requires that
A. at least one sample equal size is 30.
B. at least two treatment groups be used.
C. the number of treatments equals the number of samples.
D. an equal number of persons or test units receives each treatment.


11. In testing for the equality of two population variances, when the populations are normally distributed,
the 10% level of significance has been used. To determine the rejection region, it will be necessary to refer
to the F table corresponding to an upper-tail area of
A. 0.90.
B. 0.20.
C. 0.10.
D. 0.05.


12. In testing a population variance or constructing a confidence interval for the population variance, an
essential assumption is that
A. the population is normally distributed.
B. the population is uniformly distributed.
C. sample size exceeds 30.
D. expected frequencies equal or exceed 5.


13. What is the slope of the line that passes through the points (−5, −8) and (3,8)?
A. −2
B. 2
C. −½
D. ½


14. The vertical distances between observed and predicted values of y are called
A. errors of prediction.
B. methods of least squares.
C. least square lines.
D. scatterplots.


15. A regression analysis between sales (in $1000) and advertising (in $) resulted in the following least
squares line: yˆ = 80,000 + 5x. This implies that an increase of _______ in advertising is expected to result
in an increase of _______ in sales.
A. $1, $5
B. $1, $80,005
C. $5, $5,000
End of exam
D. $1, $5,000


16. In a hypothesis test for the population variance, the alternate hypothesis is the population variance does
not equal 17.0. The significance level to be used is 0.05 and the sample size to be taken is 25. The table
value(s) to use from the chi-square distribution is/are
A. 39.364.
B. 12.401 and 39.364.
C. 13.120 and 40.647.
D. 40.647.


17. In testing the difference between two population means using two independent samples, we use the
pooled variance in estimating the standard error of the sampling distribution of the sample mean difference
xÌ„1 − xÌ„2 if the
A. ample sizes are both large.
B. populations are nonnormal with unequal variances.
C. populations are at least normally distributed with equal variances.
D. sizes are both greater than 30.


18. Given the significance level 0.025, the F-value for the degrees of freedom, df = (7,3) is
A. 14.62.
B. 5.89.
C. 27.67.
D. 8.45.


19. A left-tail area in the chi-square distribution equals 0.95. For df = 10, the table value equals
A. 20.483.
B. 15.987.
C. 18.307.
D. 3.940.


20. The F-statistic in a one-way ANOVA represents the variation
A. within the treatments divided by the variation between the treatments.
B. between the treatments divided by the variation within the treatments.
C. between the treatments plus the variation within the treatments.
D. within the treatments minus the variation between the treatments.

Subject Mathematics
Due By (Pacific Time) 07/24/2015 12:15 pm
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