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##### QNT 561 FINAL EXAM GUIDE 2

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Question;1) Which;of the following measures of central location is affected most by extreme;values?;A. Mean;B. Median;C. Mode;D. Geometric mean;2) Which;level of measurement is required for the median?;A. Nominal;B. Ordinal;C. Interval;D. Ratio;3) Which;level of measurement is required for the mode?;A. Nominal;B. Ordinal;C. Interval;D. Ratio;4) In a;set of observations, which measure of central tendency reports the value that;occurs most often?;A. Mean;B. Median;C. Mode;D. Geometric mean;5) The weighted mean is a special case of what?;A. Mean;B. Median;C. Mode;D. Geometric mean;6) A;sample of 5 companies were examined for changes in their relative market share.;The results showed the following increases and decreases: ?5, 10, 10, 5;?10.;A. 8;B. 2;C. -2;D. 6;7) The;difference between the sample mean and the population mean is called the;A. margin of error;B. population standard deviation;C. standard error of the mean;D. sampling error;8) A;local trade union 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;9);Suppose a population consisted of 20 items. How many different samples of n = 3;are possible?;A. 6840;B. 1140;C. 20;D. 120;10) The;mean and the variance are equal in;A. the normal distribution;B. the binomial distribution;C. the Poisson distribution;D. the hypergeometric distribution;11) 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;12) In a;study on the effect of reinforcement on learning from 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.;13) 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;14) 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;15) 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 appropriate value of to represent the level of;confidence is;A. z=1.65;B. z=1.96;C. z=1.833;D. z=1.812;16) 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.;17) The;special rule of addition is used to combine;A. independent events;B. mutually exclusive events;C. events that total more than one;D. events based on subjective probabilities;18) 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;19) 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;20) A;nominal scale variable;A. usually involves ranking.;B. cannot assume negative values;C. has meaningful zero point;D. is usually based on counting;21) 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;22) In;the world of market research, the use of a questionnaire often plays a vital;role in gaining useful business intelligence because;A. it is a structured technique to collect secondary data;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;23) 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;24) 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;25) 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.;26) 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;27) 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.;28) 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;29) 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;30) 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

Paper#60201 | Written in 18-Jul-2015

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