Jeff sells the New York Times Sunday newspaper at a city corner near several churches.
He sells each newspaper for $6.50 after purchasing them for $4.00. Any unsold
newspaper can be returned to the New York Times for a $0.75 credit. Jeff expects
demand on Sunday to be 75, 100, 125, or 150 newspapers and would like to order one
of these four quantities from the New York Times. If Jeff orders 150 papers from the
New York Times and the Sunday demand is for 100 papers, profit will be _________.
A) “$56.00
B) $87.50
C) $250.00
D) $312.50
If you are counting the number of customers visiting your store on a given day, you are
working with continuous data.
AT&T would like to investigate if brand of smartphone and income level are
independent variables. The following contingency table shows the number of customers
who own three brands of smartphones along with their income level.
The expected number of customers who own an iPhone and earn more than $100,000 is
________.
A) 10.0
B) 12.0
C) 17.5
D) 22.5
Progressive Insurance would like to test the hypothesis that a difference exists in the
proportion of students in 12th grade who text while driving when compared to the
proportion of 11th grade drivers who text. A random sample of 160 12th grade students
found that 84 texted while driving. A random sample of 175 11th grade students found
that 70 texted while driving. If Population 1 is defined as 12th grade drivers and
Population 2 is defined as 11th grade drivers, and using α = 0.05, the critical value for
this hypothesis test would be ________.
A) 2.33
B) 1.96
C) 2.05
D) 1.645
Chris is employed by Silver Lake Resort in Orlando, Florida, and sells timeshares. The
following table shows the number of timeshare sales for Chris for each quarter over the
past three years.
The slope for the deseasonalized trend projection is ________.
A) 0.1337
B) 0.2517
C) 0.9412
D) 1.3788
A professor would like to test the hypothesis that the median number of minutes that a
student needs to complete a statistics exam is equal to 50 minutes. The following
random sample of exam times from 12 students was collected to test this hypothesis.
The test statistic for this hypothesis test is ________.
A) 9
B) 10
C) 11
D) 12
The National Basketball Association (NBA) would like to develop a multiple regression
model that would predict the number of wins for a team during the season. The
following table shows the variance inflation factors for the independent variables points
per game (PPG), field goal percentage (FG%), three-point percentage (3PT%), and free
throw percentage (FT%).
Which one of the following statements is true?
A) There is no multicollinearity present in this multiple regression model.
B) To eliminate multicollinearity, the variable PPG should be removed from this model.
C) To eliminate multicollinearity, the variables PPG and 3PT% should be removed from
this model.
D) To eliminate multicollinearity, the variable FT% should be removed from this
model.