For a data set, half of the observations are always greater than the ____.
A. Median
B. Mode
C. Mean
D. Standard deviation
In the regression equation, what does the letter “X” represent?
A. The Y-intercept
B. The slope of the line
C. The independent variable
D. The dependent variable
A sample of the personnel files of eight male employees revealed that, during a
six-month period, they were absent the following number of days: 2, 0, 6, 3, 10, 4, 1,
and 2. What is the mean deviation (in days)?
A. 1
B. 0
C. 3.125
D. 2.375
What is the lowest level of measurement that a median can be computed?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
A marketing firm is studying consumer preferences for winter fashions in four different
months. From a population of women 18-21 years of age, a random sample of 100
women was selected in January. Another random sample of 100 women was selected in
March. Another random sample of 100 women was selected in June. Another random
sample of 100 women was selected in September. What is the number of samples?
A. 4
B. 100
C. 400
D. 1
Refer to the following breakdown of responses to a survey of “How confident are you
that you saved enough to retire?”
What is the class interval for the preceding frequency table?
A. 10
B. 20
C. 40
D. None Apply
A sales manager for an advertising agency believes that there is a relationship between
the number of contacts that a salesperson makes and the amount of sales dollars earned.
What is the dependent variable?
A. Salesperson
B. Number of contacts
C. Amount of sales dollars
D. Sales manager
It is claimed that in a bushel of peaches, less than 10% are defective. A sample of 400
peaches is examined and 50 are found to be defective. If α = 0.025, what will be the
decision?
A. Accept the null.
B. Reject the null and conclude the defects are not greater than 10%.
C. Reject the null and conclude the defects are greater than 10%.
D. Fail to reject the null.
For a two-tailed test with a 0.05 significance level, where is the rejection region when n
is large and the population standard deviation is known?
A. Between 1.960
B. Between 1.645
C. Greater than +1.960 and less than -1.960
D. Greater than +1.645 and less than -1.645
Analysis of variance is used to _____________.
A. Compare nominal data
B. Compute a t test
C. Compare population proportions
D. Simultaneously compare several population means
A study of 200 computer service firms revealed these incomes after taxes:
What is the probability that a particular firm selected has $1 million or more in income
after taxes?
A. 0.00
B. 0.25
C. 0.49
D. 0.51
Based on the Nielsen ratings, the local CBS affiliate claims its 11 p.m. newscast reaches
41% of the viewing audience in the area. In a survey of 100 viewers, 36% indicated that
they watch the late evening news on this local CBS station. What is the p-value?
A. 0.3461
B. 0.1539
C. 0.3078
D. 0.0100
During the past six months, a purchasing agent placed the following three orders for
coal:
What is the weighted arithmetic mean price per ton?
A. $87.25
B. $72.33
C. $68.47
D. $89.18
A random sample of 40 companies with assets over $10 million was surveyed and
asked to indicate their industry and annual computer technology expense. The ANOVA
comparing the average computer technology expense among three industries rejected
the null hypothesis. The Mean Square Error (MSE) was 195. The following table
summarized the results:
Based on the comparison between the mean annual computer technology expense for
companies in the education and tax services industries, _________________.
A. A confidence interval shows that the mean annual computer technology expenses are
not significantly different
B. The ANOVA results show that the mean annual computer technology expenses are
significantly different
C. A confidence interval shows that the mean annual computer technology expenses are
significantly different
D. The ANOVA results show that the mean annual computer technology expenses are
not significantly different
A random sample of size 15 is selected from a normal population. The population
standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test
and the researcher decided to use the 0.10 significance level. For what values of t will
the null hypothesis not be rejected?
A. To the left of -1.282 or to the right of 1.282
B. To the left of -1.345 or to the right of 1.345
C. Between -1.761 and 1.761
D. To the left of -1.645 or to the right of 1.645
A manager at a local bank analyzed the relationship between monthly salary and three
independent variables: length of service (measured in months), gender (0 = female, 1 =
male) and job type (0 = clerical, 1 = technical). The following ANOVA summarizes the
regression results:
Based on the ANOVA, the multiple coefficient of determination is _________.
A. 5.957%
B. 59.3%
C. 40.7%
D. Cannot be computed
A statewide sample survey is to be made. First, the state is subdivided into counties.
Seven counties are selected at random and further sampling is concentrated on these
seven counties. What type of sampling is this?
A. Simple random
B. Systematic random sampling
C. Cluster sampling
D. Stratified sampling
The test scores for a class of 147 students are computed. What is the location of the test
score associated with the third quartile?
A. 111
B. 37
C. 74
D. 75%
A sales manager for an advertising agency believes that there is a relationship between
the number of contacts that a salesperson makes and the amount of sales dollars earned.
A regression analysis shows the following results:
What is the decision regarding the hypothesis that the slope equals zero?
A. Fail to reject the null hypothesis.
B. Fail to reject the alternative hypothesis.
C. Reject the null hypothesis.
D. Reject the alternative hypothesis.
A manager at a local bank analyzed the relationship between monthly salary and three
independent variables: length of service (measured in months), gender (0 = female, 1 =
male) and job type (0 = clerical, 1 = technical). The following ANOVA summarizes the
regression results:
The results for the variable gender show that ______________.
A. Males average $222.78 more than females in monthly salary
B. Females average $222.78 more than males in monthly salary
C. Gender is not related to monthly salary
D. Gender and months of service are correlated
The Pearson product-moment correlation coefficient, r, requires that variables be
measured with _____________.
A. An interval or ratio scale.
B. An ordinal or ratio scale.
C. A nominal or ordinal scale.
D. A nominal or ratio scale.
The time to fly between New York City and Chicago is uniformly distributed with a
minimum of 120 minutes and a maximum of 150 minutes. What is the distribution’s
standard deviation?
A. 8.66 minutes
B. 75 minutes
C. 135 minutes
D. 270 minutes
Accounting procedures allow a business to evaluate its inventory costs based on two
methods: LIFO (Last In First Out) or FIFO (First In First Out). A manufacturer
evaluated its finished goods inventory (in $000s) for five products with the LIFO and
FIFO methods. To analyze the difference, they computed (FIFO – LIFO) for each
product. Based on the following results, does the LIFO method result in a lower cost of
inventory than the FIFO method?
What is the value of calculated t?
A. +0.933
B. 2.776
C. +0.47
D. -2.028
A survey of 50 retail stores revealed that the average price of a microwave was $375
with a sample standard deviation of $20. Assuming the population is normally
distributed, what is the 99% confidence interval to estimate the true cost of the
microwave?
A. $367.42 to $382.58
B. $315.00 to $415.00
C. $323.40 to $426.60
D. $335.82 to $414.28
A random sample of 30 executives from companies with assets over $1 million was
selected and asked for their annual income and level of education. The ANOVA
comparing the average income among three levels of education rejected the null
hypothesis. The Mean Square Error (MSE) was 243.7. The following table summarized
the results:
When comparing the mean annual incomes for executives with a high school education
or less and those with an undergraduate degree, the 95% confidence interval shows an
interval of 11.7 to 42.7 for the difference. This result indicates that
__________________.
A. There is no significant difference between the two incomes.
B. The interval contains a difference of zero.
C. Executives with an undergraduate degree earn significantly more than executives
with a high school education or less.
D. Executives with an undergraduate degree earn significantly less than executives with
a high school education or less.
Refer to the following distribution of commissions:
What is the relative frequency of those salespersons that earn $1,600 or more?
A. 25.5%
B. 27.5%
C. 29.5%
D. 30.8%
Sometimes, a data set has two values that have the highest and equal frequencies. In this
case, the distribution of the data can best be described as __________.
A. Symmetric
B. Bimodal (having two modes)
C. Positively skewed
D. Negatively skewed
The average cost of tuition and room and board at a small private liberal arts college is
reported to be $8,500 per term, but a financial administrator believes that the average
cost is higher. A study conducted using 350 small liberal arts colleges showed that the
average cost per term is $8,745. The population standard deviation is $1,200. Let α =
0.05. What is the test statistic for this test?
A. 3.82
B. +0.204
C. -3.82
D. +3.82
The distribution of Student’s t has _________.
A. A mean of zero and a standard deviation of one
B. A mean of one and a standard deviation of one
C. A mean of zero and a standard deviation that depends on the sample size
D. A mean that depends on the sample size and a standard deviation of one
To test the hypothesis that 55% of those families who plan to purchase a vacation
residence in Florida want a condominium, the null hypothesis is π = 0.55 and the
alternate is π ≠ .55. A random sample of 400 families who planned to buy a vacation
residence revealed that 228 families want a condominium. What decision should be
made regarding the null hypothesis using the 0.01 level of significance?
A. Do not reject it.
B. Reject it.
C. Cannot accept it or reject it based on the information given.
D. Purchase a condominium.
What is our decision for a goodness-of-fit test with a computed chi-square value of
1.273 and a critical value of 13.388?
A. Do not reject the null hypothesis.
B. Reject the null hypothesis.
C. Unable to reject or not reject the null hypothesis based on data.
D. We should take a larger sample.
Records on a fleet of trucks reveal that the average life of a set of spark plugs is
normally distributed with a mean of 22,100 miles. The fleet owner purchased 18 sets
and found that the sample average life was 23,400 miles; the sample standard deviation
was 1,412 miles. To determine if the spark plugs average 22,100 miles, what is the
critical value for the test using a 0.05 level of significance?
A company studied the commissions paid to furniture salespersons. If the variance is
computed, the unit of measure is _________.
If there are five vacant parking places and five automobiles arrive at the same time, the
number of different ways they can park is ____.
The Nile Superstore is conducting a survey of consumer preferences for a new wireless
e-book reader. A sample of 160 people reveals that 120 would buy the new reader. What
is the 99% confidence interval for the population proportion?
Sugar is packaged in 16-ounce bags. If 42 bags are sampled, with a mean of 15.95
ounces and a standard deviation of 0.4 ounces, what is the 99% confidence interval
estimate of the population mean?
If the null hypothesis is false and the researchers accept it, a _______ error has been
made.
_______________ is the technique used to predict or estimate the value of the
dependent variable Y based on a selected value of an independent variable X.
To test the hypothesis that two population variances are equal, a random sample of size
13 was selected from the first population, and a random sample of size 21 was selected
from the second population. What are the degrees of freedom to test the hypothesis?
In a negatively skewed distribution, the coefficient of skewness is ______________.
The proportion of the area under a normal curve that is to the right of a z score, and that
is equal to zero, is ________.
A machine cuts steel to length for nails. The mean length of a nail is 43 millimeters.
There is concern that the settings of the machine producing the nails have changed. To
test the claim, 12 nails (n = 12) were sampled. The mean of the sample is 41.5 and the
standard deviation is 1.784. What is the computed value of the test statistic?
If we are testing for the difference between two population proportions, it is assumed
that the two samples are large enough that the binomial distribution can be
approximated by ______.
For normally distributed random variables, the _________ makes probability
statements based on specific values of the standard deviation.
When dependent samples are used to test for differences in the means, we pool the
sample variances.