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QNT 561 Final Exam




Question;QNT 561 Final Exam;1) Which of the following measures of centrallocationis;affected most by extreme values?A. Mean;B. Median;C. Mode;D. Geometric mean;2) A correlation matrix?A. Shows all;simple coefficients of correlation between variables;B. shows only correlations that are zero;C. shoes the correlations that are positive;D. shows only the correlations that are statistically significant;3) In a set of observations, which measure of central tendency reports thevaluethat;occurs most often?;A. Mean;B. Median;C. Mode;D. Geometric mean;4) Which level of measurement is required for the median?;A. Nominal;B. Ordinal;C. Interval;D. Ratio;5) The mean and the variance are equal in?;A. the normal distribution;B. the binomial distribution;C. the;Poisson distribution;D. the hypergeometric distribution;6) The difference between the sample mean and the population mean is called;the?;A.marginof;error;B. population standard deviation;C. standard error of the mean;D. sampling;error;7) A dummy variable or indicator variable?;A. may assume only a value of 0 or 1;B. is another;term for the dependent variable;C. is a quantitative variable;D. is a variable at a ratio or interval level of measurement;8) A Type I error is?;A. the correct decision;B. a value determined from the test statistic;C. rejecting;the null hypothesis when it is true;D. accepting the null hypothesis when it is false;9) Which level of measurement is required for the mode?;A. Nominal;B. Ordinal;C. Interval;D. Ratio;10) The weighted mean is a special case of what?;A. Mean;B. Median;C. Mode;D. Geometric mean;11) We use the general rule of multiplication to combine?;A. events that are not independent;B. mutually exclusive events;C. events;that total more than 1.00;D. events based on subjective probabilities;12) A localtradeunion;consists of plumbers and electricians. Classified according to rank;Apprentice Journeyman Master Total;Plumbers 25 20 30 75;Electricians 15 40 20 75;40 60 50;A member of the union is selected at random. Given that the person selected is;an electrician, what is the;probability that the person is a master?;A..053;B..133;C..500;D..267;13) Suppose a population consisted of 20 items. How many different samples;of n = 3 are possible?;A. 6840;B. 1140;C. 20;D. 120;14) In the 1936 Presidential Election Franklin D. Roosevelt defeated Alfred;E. Landon in a landslide vote. A Landon victory had been predicted by the;Literary Digest, a magazine that ran the oldest, largest, and most widely;publicized of the polls at the time. The Digest's final prediction was based on;10 million sample ballots mailed to prospective voters, and 2.3 million were;returned. The sample of voters was drawn from lists of automobile and telephone;owners. Despite the massive size of this sample, it failed to predict a;Roosevelt victory, being off the mark by 19 percentage points. The Digest was;wrong because?;A. the sample size, although large, was not large enough;B. the right research questions were not asked;C.;respondents intentionally lied about their preferred candidate;D. the sample used was not representative of the actual population at the time;15) A discrete variable?;A. is an example of a qualitative variable;B. can assume only whole number values;C. can assume only certain clearly separated values;D. cannot be;negative;16) In a study on the effect of reinforcement onlearningfrom;a company online training program, two experimental treatments are planned;reinforcement given after every learning module, or reinforcement given after;every two learning modules. Reinforcement is accomplished with the addition of;more examples. Which one of the following control groups would serve best in;this study?;A. A group that does not read any of the learning modules.;B. A group that reads the modules using hardcopy only.;C. A group that reads the learning modules, but does not receive reinforcement.;D. A group;that reads the learning modules with random reinforcement.;17) Which of the following is a correct statement about a probability?;A. It may;range from 0 to 1.;B. It may assume negative values.;C. It may be greater than 1.;D. It cannot be reported to more than 1 decimal place.;18) The central limit theorem is important to market researchers because it;states that as sample sizes increase, the distribution of the sample;collected from consumers on any topic of interest being researched approaches;the normal distribution.;A. medians;B. means;C. standard deviations;D. variances;19) To find confidence intervals for the mean of a normal distribution, the;t distribution is usually used in practical applications instead of the;standard normal distribution because?;A. the mean of the population is not known;B. the t distribution is more effective;C. the variance of the population is usually not known;D. the sample;size is not known;20) In a two-sample test of means for independent samples, we use the z;distribution when?;A. the population standard deviations are equal;B. both populations;have at least 4,000 observations;C. both population standard deviations are known;D. nB and n(1-B) are both greater than 5;21) The special rule of addition is used tocombine?;A. independent events;B. mutually;exclusive events;C. events that total more than one;D. events based on subjective probabilities;22) A sample of 5 companies were examined for changes in their relativemarketshare. The;results showed the following increases and decreases: ?5, 10, 10, 5, ?10.;A. 8;B. 2;C. -2;D. 6;23) A nominal scale variable?;A. usually;involves ranking.;B. cannot assume negative values;C. has meaningful zero point;D. is usually based on counting;24) Bob is interested in opening a candy store in his town. He believes that;his customers will spend an average of $75 or more in annual purchases (the;alternative hypothesis). Bob hires a consultant to test this belief. The;consultant tested this conjecture on a sample of 100 customers and found the;p-value for the test statistic satisfied p >.25, then?;A. you would not reject the null hypothesis;B. you would reject the null hypothesis for alpha=.01;C. you would;reject the null hypothesis for alpha=.05;D. you would reject the null hypothesis for alpha=.10;25) The ratio scale of measurement?;A. usually the result of counting something;B. has;meaningful zero point;C. may assume negative values;D. cannot have more than two categories;26) In the world ofmarketresearch, the use;of a questionnaire often plays a vital role in gaining usefulbusinessintelligence;because?;A. it is a structured technique to collect secondarydata;B. it represents a way to ask anything you want from respondents and receive;valid information;C. it does not need to be tested;D. it can be;used in conjunction with other techniques such as field interviews and focus;groups to maximize data input;27) Which of the following is a requirement for a two-sample test of;proportions?;A. The population standard deviations are equal.;B. Both populations are positively skewed.;C. Both samples are at least 30.;D. nB and;n(1-B) are both greater than 5.;28) The multiple standard error of estimate is?;A. the measure of variability to the prediction;B. negative when one of the net regression coefficients is zero;C. found by;calculating SSR/SS total;D. the measure of accuracy of the prediction;29) A carefully designed business experiment has just been concluded.;Unfortunately, use of alpha =.05 indicated no significant differences among;four treatments. What useful information can you supply future investigators;when you report on this experiment?;A. The means;are different but their variances are the same.;B. The estimated variance (and its df) can be useful to future investigators.;C. Pair-wise tests can be conducted to show significant differences.;D. Significant differences can be reported by changing the type I error rate;from.05 to.10,.20, or whatever is needed to declare significance.;30) We wish to develop a confidence interval for the population mean. The;population follows the normal distribution, the standard deviation of the;population is 3, and we have a sample of 10 observations. We decide to use the;90% level of confidence. The appropriatevalueof;to represent the level of confidence is?;A. z=1.65;B. z=1.96;C. z=1.833;D. z=1.812


Paper#52176 | Written in 18-Jul-2015

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