In need of a Tutor that is VERY good in Business Statistics.

1.

Question :

A histogram with only one peak ________.

Student Answer:

 does not have a mode value

 is unimodal

 is bimodal

 has a high degree of kurtosis

Question 2.

Question :

________ is the quartile representing the 75th percentile.

Student Answer:

 Q1

 Q2

 Q3

 Q4

Question 3.

Question :

A(n) ________ is a representation of reality or a real-life situation.

Student Answer:

 objective

 model

 analysis

 algorithm

Question 4.

Question :

Numerical values associated with a metric are called ________.

Student Answer:

 data

 measures

 population

 regressors

Question 5.

Question :

Which of the following functions is used to find the largest value in a range of cells using Microsoft Excel?

Student Answer:

 MAX(range)

 MIN(range)

 SUM(range)

 AVERAGE(range)

Question 6.

Question :

When a histogram is negatively skewed, it ________.

Student Answer:

 is symmetrical

 tails off to the left

 has a slope lesser than one

 tails off to the right

Question 7.

Question :

The correlation coefficient is a number between ________.

Student Answer:

 0 and +1

 -1 and 0

 -1 and +1

 -2 and +2

Question 8.

Question :

Outcomes such as customer satisfaction and dissatisfaction, complaints and complaint resolution, and customer perceived value would be considered ________ outcomes.

Student Answer:

 customer-focused

 workforce-focused

 product and process

 leadership and governance

Question 9.

Question :

Salary would be an example of ________ data.

Student Answer:

 nominal

 ordinal

 interval

 ratio

Question 10.

Question :

What does a positive correlation coefficient indicate?

Student Answer:

 When one variable increases, the other variable decreases.

 When one variable increases, the other variable also increases.

 When one variable decreases, the other variable remains constant.

 Both the variables are not linearly related.

Question 11.

Question :

When more of the mass of the data is concentrated on one side and the distribution of values tails off to the other side, the histogram is said to be ________.

Student Answer:

 symmetric

 skewed

 curved

 positively sloped

Question 12.

Question :

A measurable quantity that may vary, or is subject to change, and can be controlled is known as a(n)

Student Answer:

 decision variable.

 algorithm.

 parameter.

 solution.

Question 13.

Question :

Which of the following is true of ordinal data?

Student Answer:

 Ordinal data have no fixed units of measurement.

 Ordinal data can be interpreted in the form of ratios.

 Ordinal data allows meaningful comparison of ranges, averages, and other statistics.

 Ordinal data is the strongest form of measurement.

Question 14.

Question :

A metric that is derived from counting something is called a(n) ________ metric.

Student Answer:

 continuous

 nominal

 discrete

 ordinal

Question 15.

Question :

Which of the following functions is used to find the smallest value in a range of cells using Microsoft Excel?

Student Answer:

 MAX(range)

 MIN(range)

 SUM(range)

 AVERAGE(range)

Question 16.

Question :

Outcomes such as absenteeism, turnover, safety, training effectiveness, and leadership development would be considered ________ outcomes.

Student Answer:

 customer-focused

 workforce-focused

 financial and market

 leadership and governance

Question 17.

Question :

In Microsoft Excel, the function that looks up a value in a table is ________.

Student Answer:

 AVERAGE(condition 1, condition 2 . . .)

 IF(condition, value if true, value if false)

 VLOOKUP(value, table range, column number)

 COUNTIF(range, criteria)

Question 18.

Question :

A distribution that is relatively flat with a wide degree of dispersion has a coefficient of kurtosis that is ________.

Student Answer:

 more than 3

 less than 3

 less than 6

 more than 6

Question 19.

Question :

All of the following are examples of measures of central tendencyexcept ________.

Student Answer:

 mean

 median

 standard deviation

 mode

Question 20.

Question :

A table that shows the number of observations in each of several nonoverlapping groups is called a ________.

Student Answer:

 frequency distribution

 scatter plot

 histogram

 chart

1.

Question :

The number of phone calls coming into a switchboard in the next five minutes will either be 0, 1, or 2. The probabilities are the same for each of these (1/3).  If X is the number of calls arriving in a five-minute time period, what is the mean of X?

Student Answer:

 1/3

 2/3

 1

 4/3

Question 2.

Question :

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course.  Of these 200 students, 50 are also enrolled in an introductory accounting course.  There are an additional 250 business students enrolled in accounting but not enrolled in statistics.  If a business student is selected at random, what is the probability that the student is enrolled in accounting?

Student Answer:

 0.20

 0.25

 0.30

 0.50

Question 3.

Question :

Properties of the normal distribution include

Student Answer:

 a continuous bell-shaped distribution.

 a discrete probability distribution.

 the number of trials is known and is either 1, 2, 3, 4, 5, etc.

 the random variable can assume only a finite or limited set of values.

Question 4.

Question :

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course.  Of these 200, 50 are also enrolled in an introductory accounting course.  There are an additional 250 business students enrolled in accounting but not enrolled in statistics.  If a business student is selected at random, what is the probability that the student is enrolled in neither accounting nor statistics?

Student Answer:

 0.45

 0.50

 0.55

 0.05

Question 5.

Question :

The number of cell phone minutes used by high school seniors follows a normal distribution with a mean of 500 and a standard deviation of 50.  What is the probability that a student uses more than 350 minutes?

Student Answer:

 0.001

 0.999

 0.618

 0.382

Question 6.

Question :

A conditional probability P(B|A) is equal to its marginal probability P(B) if

Student Answer:

 it is a joint probability.

 statistical dependence exists.

 statistical independence exists.

 the events are mutually exclusive.

Question 7.

Question :

If two events are mutually exclusive, then

Student Answer:

 their probabilities can be added.

 the joint probability is equal to 0.

 if one occurs, the other cannot occur.

 All of the above

Question 8.

Question :

The expected value of a probability distribution is

Student Answer:

 the measure of the spread of the distribution.

 the variance of the distribution.

 the average value of the distribution.

 the probability density function.

Question 9.

Question :

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course.  Of these 200 students, 50 are also enrolled in an introductory accounting course.  There are an additional 250 business students enrolled in accounting but not enrolled in statistics.  If a business student is selected at random, what is the probability that the student is either enrolled in accounting or statistics, but not both?

Student Answer:

 0.45

 0.50

 0.40

 0.05

Question 10.

Question :

The time required to travel downtown at 10 a.m. on Monday morning is known to be normally distributed with a mean of 40 minutes and a standard deviation of 5 minutes.  What is the probability that it will take less than 35 minutes?

Student Answer:

 0.84134

 0.15866

 0.53983

 0.46017

Question 11.

Question :

When does P(A|B) = P(A)?

Student Answer:

 when A and B are mutually exclusive

 when A and B are statistically independent

 when A and B are statistically dependent

 when A and B are collectively exhaustive

Question 12.

Question :

Suppose that 10 golfers enter a tournament and that their respective skill levels are approximately the same.  Six of the entrants are female and two of those are older than 40 years old.  Three of the men are older than 40 years old.  What is the probability that the winner will be either female or older than 40 years old?

Student Answer:

 0.000

 0.198

 0.200

 0.900

Question 13.

Question :

A consulting firm has received 2 Super Bowl playoff tickets from one of its clients. To be fair, the firm is randomly selecting two different employee names to "win" the tickets. There are 6 secretaries, 5 consultants and 4 partners in the firm. Which of the following statements is not true?

Student Answer:

 The probability of a secretary winning a ticket on the first draw is 6/15.

 The probability of a secretary winning a ticket on the second draw given that a consultant won a ticket on the first draw is 6/15.

 The probability of a consultant winning a ticket on the first draw is 1/3.

 The probability of a partner winning a ticket on the second draw given that a secretary won a ticket on the first draw is 4/14.

Question 14.

Question :

The time required to travel downtown at 10 a.m. on Monday morning is known to be normally distributed with a mean of 40 minutes and a standard deviation of 5 minutes.  What is the probability that it will take less than 40 minutes?

Student Answer:

 0.50

 0.20

 0.80

 1.00

Question 15.

Question :

Which of the following is not true about continuous random variables?

Student Answer:

 They have an infinite set of values.

 The area under each of the curves represents probabilities.

 The entire area under each of the curves equals 1.

 They can only be integer values.

Question 16.

Question :

A company’s Board of Trustees had 18 members. Three members serve as the Board’s Executive Committee of Chair, Vice-Chair, and Secretary. Each member of the Board of Trustees is equally likely to serve any of the positions on the Executive Committee. How many ways can the three positions be filled?

Student Answer:

 54

 540

 2,816

 4,896

Question 17.

Question :

If P(A) = 0.3, P(B) = 0.2, P(A and B) = 0.0 , what can be said about events A and B?

Student Answer:

 They are independent.

 They are mutually exclusive.

 They are posterior probabilities.

 None of the above

Question 18.

Question :

Colonel Motors (an automobile company) has prepared a marketing campaign for its best-selling car.  The focus of the campaign is quality, and it is claimed that 97 % of the purchasers of this car have no complaints in the first year.  You and your sister Kim have each purchased one of these cars. What is the probability that exactly one of you has a complaint about the car in the first year if the advertising claim is true?

Student Answer:

 0.0301

 0.0582

 0.9730

 1.0000

Question 19.

Question :

The time required to complete a project is normally distributed with a mean of 80 weeks and a standard deviation of 10 weeks.  The construction company must pay a penalty if the project is not finished by the due date in the contract.  If a construction company bidding on this contract puts in a due date of 80 weeks, what is the probability that they will have to pay a penalty?

Student Answer:

 0

 1.000

 0.500

 1/8

Question 20.

Question :

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course.  Of these 200 students, 50 are also enrolled in an introductory accounting course.  There are an additional 250 business students enrolled in accounting but not enrolled in statistics.  If a business student is selected at random, what is the probability that the student is enrolled in statistics?

Student Answer:

 0.05

 0.20

 0.25

 0.30

 1.

Question :

Since the central limit theorem states that a normal distribution of sample means will result from virtually any underlying distribution, all of the following are true except ________.

Student Answer:

 approximately 75% of the sample means will be between ±2 standard errors of μ

 approximately 99% of the sample means will be between ±3 standard errors of μ

 approximately 95% of the sample means will be between ±2 standard errors of μ

 approximately 68% of the sample means will be between ±1 standard errors of μ

Question 2.

Question :

The t-distribution is very much like the standard normal distribution except that the t-distribution ________.

Student Answer:

 has a smaller variance

 has a smaller standard deviation

 is bi-symmetrical

 has a larger variance

Question 3.

Question :

Find the standard error of the mean when the population standard deviation is 2.4 and a sample of size 36 is taken.

Student Answer:

 4.03

 0.6

 14.4

 0.4

Question 4.

Question :

The finite population correction factor (FPC) is found by ________.

Student Answer:

Question 5.

Question :

A point estimate ________.

Student Answer:

 has a known measurement error

 can be found by dividing the population parameter by the sample size

 accurately estimates the population parameter

 is a sample-based estimate of a population parameter

Question 6.

Question :

In simple random sampling ________.

Student Answer:

 every subset has an equal chance of being selected

 sampling is taken from the most easily available segments of the population

 every nth item is selected from the population

 weights are assigned to each value based on the probability that it will be included in the sample .

Question 7.

Question :

Peak Previously Played Picks buys and sells used sports equipment. For the past year, the mean purchase of used sports equipment was $36 with a standard deviation of $8. Using the Microsoft Excel function NORM.DIST, find the probability that the next person who comes in to sell used equipment will be paid less than $20.

Student Answer:

 2.28%

 69.15%

 100.00%

 97.73%

Question 8.

Question :

The two most commonly used types of estimates in statistics are ________.

Student Answer:

 cluster intervals and standard estimates

 unbiased estimator and standard distribution

 point estimates and confidence intervals

 sampling estimates and central limit interval

Question 9.

Question :

A finite population correction factor should be used to adjust the margin of error when the sample taken is larger than ________ of the entire population.

Student Answer:

 10%

 1%

 5%

 50%

Question 10.

Question :

The basic difference between subjective and probabilistic sampling methods is whether ________.

Student Answer:

 the data collected are qualitative or quantitative

 a random procedure is used or not

 a person or object is being sampled

 actual measurements are being taken or estimates are being used

Question 11.

Question :

From a sample of 25 items, a sample standard deviation of 4.56 ounces was just measured. What value should be used for the population standard deviation?

Student Answer:

 0.91 ounces

 4.56 ounces

 none, since the population standard deviation cannot be estimated

 0.18 ounces

Question 12.

Question :

A major consumer products company wants to measure the quality of the packaging of their products on the store shelves. In a chain grocery store, all of the packages of a 15-ounce Wild Berry shampoo and all of the packages of a 4-ounce Man-O-Manly deodorant are sampled. What sampling method is being used for this sampling plan?

Student Answer:

 cluster sampling

 simple random sampling

 continuous sampling

 protracted random sampling

Question 13.

Question :

Which of the following is a subjective sampling method?

Student Answer:

 cluster sampling

 judgment sampling

 systematic sampling

 stratified sampling

Question 14.

Question :

Find the standard error of the mean when the population standard deviation is 160 and a sample of size 16 is taken.

Student Answer:

 0.14

 40

 1.26

 10

Question 15.

Question :

For a 95% confidence interval for a population mean, there is ________.

Student Answer:

 a 95% confidence that the center of the interval is the true population mean

 a 95% probability that the true population mean will fall in that range of values

 a 95% probability that the population mean comes from a normal distribution

 a 95% confidence that the sample mean is the true population mean

Question 16.

Question :

What is the value of the finite population correction factor when a sample size of 125 was taken from a finite population of 500?

Student Answer:

 0.75

 1.15

 0.87

 1.33

Question 17.

Question :

A sampling plan ________.

Student Answer:

 states the design quality for production managers

 describes the characteristics of a population

 is used when the product or process is not well understood

 describes the approach that will be used to obtain samples from a population

Question 18.

Question :

For a sample size of 172, the degrees of freedom are ________.

Student Answer:

 172

 171

 13.11

 173

Question 19.

Question :

Cluster sampling ________.

Student Answer:

 is used with populations that are naturally divided into subsets

 requires difficult sorting of the population data into specific samples

 consists of a census of selected population subgroups

 ensures each individual item has an equal chance of selection

Question 20.

Question :

Peak Previously Played Picks buys and sells used sports equipment. For the past year, the mean purchase of used sports equipment was $36 with a standard deviation of $8. Using the Microsoft Excel function NORM.DIST, find the probability that the next person who comes in to buy used equipment will pay more than $40.

Student Answer:

 30.85%

 69.15%

 24.20%

 95.60%