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

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1. In the construction of decision trees, which of the following shapes represents a state of nature node? (Points : 1)

square circle diamond triangle

Question 2.2. In the construction of decision trees, which of the following shapes represents a decision node? (Points : 1)

square circle diamond triangle

Question 3.3. A market research study is being conducted to determine if a product modification will be well received by the public. A total of 1,000 consumers are questioned regarding this product. The table below provides information regarding this sample.

Positive

Reaction

Neutral

Reaction

Negative

Reaction

Male

240

100

Female

260

220

120

What is the probability that a randomly selected person would be a female who had a positive reaction? (Points : 1)

0.250 0.260 0.455 0.840

Question 4.4. The probability that a typical tomato seed will germinate is 60%. A seed company has developed a hybrid tomato that they claim has an 85% probability of germination. If a gardener plants the new hybrid tomato in batches of 12, what is the probability that 10 or more seeds will germinate in a batch? (Points : 1)

0.064 0.083 0.264 0.736

Question 5.5. Historical data indicates that only 20% of cable customers are willing to switch companies. If a binomial process is assumed, then in a sample of 20 cable customers, what is the probability that no more than 3 customers would be willing to switch their cable? (Points : 1)

0.85 0.15 0.20 0.411

Question 6.6. Lock combinations are made using 3 digits followed by 2 letters. How many different lock combinations can be made if repetition of digits is allowed? (Points : 1)

6 260 6,760 676,000

Question 7.7. In 2012 the stock market took some big swings up and down. One thousand investors were asked how often they tracked their investments. The table below shows their responses. What is the probability that an investor tracks the portfolio weekly?

How often tracked?	Response
Daily	235
Weekly	278
Monthly	292
Few times a year	136
Do not track	59

(Points : 1)

0.235 0.278 0.513 0.722

Question 8.8. In hypothesis testing, the null and the alternative hypotheses are ________. (Points : 1)

not mutually exclusive mutually exclusive always false always true

Question 9.9. If we fail to reject the null hypothesis, ________. (Points : 1)

we have found evidence to support the alternative hypothesis the null hypothesis is proved to be true we have only failed to find evidence to support the alternative hypothesis the hypothesis test is inconclusive

Question 10.10. The probability of a Type I error can be specified by the investigator. The probability of a Type II error is ________. (Points : 1)

one minus the probability of Type I error the result of the hypothesis test itself also specified by the investigator not specified by the investigator but computed using the power of the test

Question 11.11. A major consumer products company wants to measure the type and quantity of laundry detergent used by consumers. After choosing a suburban street at random, employees go door-to-door to every fifth house to ask for permission to view their laundry detergent supply. What sampling method is being used for this sampling plan? (Points : 1)

simple random sampling systematic sampling continuous sampling subjective sampling

Question 12.12. A major consumer products company wants to measure the quality of the packaging of their products on the store shelves. Five large cities are chosen in different parts of the country. What sampling method is being used for this sampling plan? (Points : 1)

simple random sampling continuous sampling subjective sampling stratified sampling

Question 13.13. All of the following are true about the sampling distribution of the mean except ________. (Points : 1)

the population standard deviation can be determined when a large sample size is used the standard deviation of this distribution is called the standard error of the mean when larger sample sizes are used for this distribution, the sampling error is less this distribution approaches the normal distribution if the sample size is large enough

Question 14.14. Find the standard error of the mean when the population standard deviation is 4.1 and a sample of size 30 is taken. (Points : 1)

7.32 0.08 1.34 0.75

Question 15.15. Expected monetary value (EMV) is (Points : 1)

the average or expected monetary outcome of a decision if it can be repeated a large number of times. the average or expected value of the decision, if you know what would happen ahead of time. the average or expected value of information if it were completely accurate. the amount you would lose by not picking the best alternative.

Question 16.16. Which of the following is true about the expected value of perfect information? (Points : 1)

It is the amount you would pay for any sample study. It is calculated as EMV minus EOL. It is calculated as expected value with perfect information minus maximum EMV. It is the amount charged for marketing research.

Question 17.17. The expected value of sample information (EVSI) can be used to (Points : 1)

establish a maximum amount to spend on additional information. calculate conditional probabilities. establish risk avoidance. provide points on a utility curve.

Question 18.18. When conducting a test of hypothesis, if we elect to use alpha (α) of .05 and the results of our analysis indicate that the null hypothesis should be rejected, which of the following is true? (Points : 1)

the p-value is greater than .05 the p-value is less than .05 the p-value is greater than +1.96 the p-value is less than -1.96