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QMB 2100 QUIZ #5: Business and Economic Statistics I

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Question

Question

 

1. An experiment consists of determining the speed of automobiles on a highway by the use of radar equipment. The random variable in this experiment is a

 

 

a. discrete random variable

 

 

b. continuous random variable

 

 

c. complex random variable

 

 

d. simplex random variable

 

 

 

 

2. Variance is

 

 

a. a measure of the average, or central value of

 

 

a random variable

 

 

b. a measure of the dispersion of a random

 

 

variable

 

 

c. the square root of the standard deviation

 

 

d. the sum of the squared deviation of data

 

 

elements from the mean

 

 

 

 

3. A measure of the average value of a random

 

 

variable is called a(n)

 

 

a. variance

 

 

b. standard deviation

 

 

c. expected value

 

 

d. coefficient of variation

 

 

 

 

4. For a uniform probability density function,

 

 

a. the height of the function cannot be larger

 

 

than one

 

 

b. the height of the function is the same for

 

 

each value of x

 

 

c. the height of the function is different for

 

 

various values of x

 

 

d. the height of the function decreases as x

 

 

increases

 

 

 

 

5. The probability that a continuous random

 

 

variable takes any specific value

 

 

a. is equal to zero

 

 

b. is at least 0.5

 

 

c. depends on the probability density function

 

 

d. is very close to 1.0

 

 

 

 

6. The z score for the standard normal distribution

 

 

a. is always equal to zero

 

 

b. can never be negative

 

 

c. can be either negative or positive

 

 

d. is always equal to the mean

 

 

 

 

7. A value of 0.5 that is added and/or subtracted

 

 

from a value of x when the continuous normal

 

 

distribution is used to approximate the discrete

 

 

binomial distribution is called

 

 

a. 50% of the area under the normal curve

 

 

b. continuity correction factor

 

 

c. factor of conversion

 

 

d. all of the alternatives are correct answers

 

 

 

 

8. Larger values of the standard deviation result in

 

 

a normal curve that is

 

 

a. shifted to the right

 

 

b. shifted to the left

 

 

c. narrower and more peaked

 

 

d. wider and flatter

 

 

 

 

9. A negative value of Z indicates that

 

 

a. the number of standard deviations of an

 

 

observation is to the right of the mean

 

 

b. the number of standard deviations of an

 

 

observation is to the left of the mean

 

 

c. a mistake has been made in computations,

 

 

since Z cannot be negative

 

 

d. the data has a negative mean

 

 

10. For the standard normal probability distribution,

 

 

the area to the left of the mean is

 

 

a. -0.5

 

 

b. 0.5

 

 

c. any value between 0 to 1

 

 

d. 1

 

 

 

 

11. Which of the following is not a characteristic of

 

 

the normal probability distribution?

 

 

a. The mean, median, and the mode are equal

 

 

b. The mean of the distribution can be

 

 

negative, zero, or positive

 

 

c. The distribution is symmetrical

 

 

d. The standard deviation must be 1

 

 

 

 

12. In a standard normal distribution, the range of

 

 

values of z is from

 

 

a. -3.09 to 3.09

 

 

b. -1 to 1

 

 

c. 0 to 1

 

 

d. minus infinity to infinity

 

 

 

 

13. The probability density function for a uniform

 

 

distribution ranging between 2 and 6 is

 

 

a. 4

 

 

b. undefined

 

 

c. any positive value

 

 

d. 0.25

 

Paper#61574 | Written in 23-Dec-2015

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