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A local parent group was concerned with the increasing school cost for families with
school aged children. The parent group was interested in understanding the relationship
between the academic grade level for the child and the total costs spent per child per
academic year. They performed a multiple regression analysis using total cost as the
dependent variable and academic year (x1) as the independent variables. The multiple
regression analysis produced the following tables.
For a child in grade 5 (x1= 2), the predicted value of y is ____________.
a) 707.91
b) 1,020.26
c) 781.99
d) 840.06
e) 1078.32
Upper and lower control limits are usually based upon _______.
a) ±3 standard deviations
b) ±2 standard deviations
c) ±1 standard deviation
d) ±4 standard deviations
e) ±6 standard deviations
Dorothy Little purchased a mailing list of 2,000 names and addresses for her mail order
business, but after scanning the list she doubts the authenticity of the list. She randomly
selects five names from the list for validation. If 40% of the names on the list are
non-authentic, and x is the number of non-authentic names in her sample, P(x=0) is
______________.
a) 0.8154
b) 0.0467
c) 0.0778
d) 0.4000
e) 0.5000
A graph that displays computed means for a series of small random samples over a
period of time is called a(n) _______.
a) chart
b) R chart
c) p chart
d) c chart
e) S chart
The z value associated with a two"sided 90% confidence interval is _______.
a) 1.28
b) 1.645
c) 1.96
d) 2.575
e) 2.33
If x, the time (in minutes) to complete an change job at certain auto service station, is
uniformly distributed over the interval 20 to 30, inclusively (20 x 30), then the
probability that an oil change job is completed in less than or equal to 22 minutes, i.e.,
P(x 22) is __________________.
a) 0.200
b) 0.300
c) 0.000
d) 0.250
e) 1.000
Suppose 65% of all college students have a laptop computer at home and a sample of
150 students is taken. The mean of the sampling distribution of is
a) 0.65
b) 6.5
c) 97.5
d) 0.975
e) 15.0
An analysis of personal loans at a local bank revealed the following facts: 10% of all
personal loans are in default (D), 90% of all personal loans are not in default (D΄), 20%
of those in default are homeowners (H | D), and 70% of those not in default are
homeowners (H | D΄). If a personal loan is selected at random P (H D") =
___________.
a) 0.20
b) 0.63
c) 0.90
d) 0.18
e) 0.78
A question in a survey of microcomputer users asked: "Which operating system do you
use most often: a. Apple OS 7, b. MS DOS, c. MS Windows 95, d. UNIX." The
measurement level for this question is _________________.
a) nominal level
b) ordinal level
c) interval level
d) ratio level
e) relative level
Karen Merlott, VP for Strategic Planning at a recruitment firm, recently conducts a
survey to determine customer satisfaction with job placement. She distributed the
survey to 45 of the most recently placed executives. Two items on a survey
questionnaire them to rate the importance of "initial interview process" and "satisfaction
of final job placement" on a scale of 1 to 10 (with 1 meaning "not important" and 10
meaning "highly important"). Her staff assembled the following statistics on these two
items.
What can Karen conclude from these statistics?
a) The Initial Interview Process distribution is positively skewed.
b) The Initial Interview Process distribution is not skewed.
c) The Satisfaction of Final Job Placement distribution is negatively skewed.
d) The Satisfaction of Final Job Placement distribution is positively skewed.
e) Both are symmetrically distributed.
A researcher is interested in testing to determine if the mean price of a casual lunch is
different in the city than it is in the suburbs. The null hypothesis is that there is no
difference in the population means (i.e. the difference is zero). The alternative
hypothesis is that there is a difference (i.e. the difference is not equal to zero). He
randomly selects a sample of 9 lunch tickets from the city population resulting in a
mean of $14.30 and a standard deviation of $3.40. He randomly selects a sample of 14
lunch tickets from the suburban population resulting in a mean of $11.80 and a standard
deviation $2.90. He is using an alpha value of .10 to conduct this test. Assuming that
the populations are normally distributed and that the population variances are
approximately equal, the degrees of freedom for this problem are _______.
a) 23
b) 22
c) 21
d) 2
d) 1
A multiple regression analysis produced the following tables.
These results indicate that ____________.
a) none of the predictor variables are significant at the 5% level
b) each predictor variable is significant at the 5% level
c) x1 is significant at the 5% level
d) x2 is significant at the 5% level
e) the intercept is not significant at 5% level
Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in
the payroll system, and orders an inspection of "each and every payroll voucher issued
since January 1, 1993." Each payroll voucher was inspected and the following
frequency distribution was compiled.
The median number of errors per voucher is __________.
a) 3.67
b) 5
c) 3.25
d) 400
e) 3
David Desreumaux, VP of Human Resources of American First Banks (AFB), is
reviewing the employee training programs of AFB banks. Based on a recent census of
personnel, David knows that the variance of teller training time in the Southeast region
is 8, and he wonders if the variance in the Southwest region is the same number. His
staff randomly selected personnel files for 15 tellers in the Southwest Region, and
determined that their mean training time was 25 hours and that the standard deviation
was 4 hours. Assume that teller training time is normally distributed. Using = 0.10, the
null hypothesis is ________.
a) = 25
b) = 8
c) = 4
d) =< 8
e) s2= 16
The methods of parametric statistics can be applied to nominal or ordinal data.
The following ANOVA table is from a multiple regression analysis.
The MSR value is __________.
a) 1500
b) 50
c) 2300
d) 500
e) 31
A local parent group was concerned with the increasing school cost for families with
school aged children. The parent group was interested in understanding the relationship
between the academic grade level for the child and the total costs spent per child per
academic year. They performed a multiple regression analysis using total cost as the
dependent variable and academic year (x1) as the independent variables. The multiple
regression analysis produced the following tables.
The regression equation for this analysis is ____________.
a) y = 707.9144 + 2.903307 x1 + 11.91297 x1
2
b) y = 707.9144 + 435.1183 x1 + 1.626947 x1
2
c) y = 435.1183 + 81.62802 x1 + 3.806211 x1
2
d) y = 1.626947 + 0.035568 x1 + 3.129878 x1
2
e) y = 1.626947 + 0.035568 x1 - 3.129878 x1
2
A gasoline distributor wonders whether an individual's income level influences the
grade of gasoline purchased. The following is a contingency table from a random
sample of 300 individuals.
Using
= .01, observed chi-square value is ______________.
a) 24.93
b) 4.44
c) 32.89
d) 51.79
e) 54.98
Suppose the owners of a new bed and breakfast establishment are interested in
conducting an experiment to determine effective advertisement strategies for increasing
the number of reservations. The bed and breakfast owners intend to rotate
advertisements for 12 weeks between a travel website, a travel magazine and a local
billboard. Customers making reservations will be asked if they saw the advertisement.
In this experiment, the independent variable is a ________________.
a. treatment variable
b. classification variable
c. experimental variable
d. design variable
e. research variable
Lucy Baker is analyzing demographic characteristics of two television programs,
American Idol(population 1) and 60 Minutes (population 2). Previous studies indicate
no difference in the ages of the two audiences. (The mean age of each audience is the
same.) Lucy plans to test this hypothesis using a random sample of 100 from each
audience. Her null hypothesis is ____________.
a) 1- 20
b) 1- 2>0
c) 1- 2= 0
d) 1- 2<0
e) 1- 2<1
Meagan Dubean manages a portfolio of 200 common stocks. Her staff classified the
portfolio stocks by 'industry sector' and 'investment objective.'
Which of the following statements is not true?
a) Growth and Income are complementary events.
b) Electronics and Growth are dependent.
c) Electronics and Healthcare are mutually exclusive.
d) Airlines and Healthcare are collectively exhaustive.
e) Growth and Income are collectively exhaustive.
In the Wilcoxon test of the differences between two populations, the value z statistic
was calculated to be 1.80. If the level of significance is 0.10, which of the following
decisions is appropriate?
a) Reject the null hypothesis
b) Do not reject the null hypothesis
c) Indeterminate without the sample size
d) Indeterminate without all of the data
e) Inconclusive
In decision-making under uncertainty, the approach that considers only the best and the
worst payoffs for each decision alternative is the __________.
a) maximin criterion
b) maximax criterion
c) Hurwicz criterion
d) minimax regret strategy
e) maximin regret strategy
A frequency distribution was developed. The lower endpoint of the first class is 9.30,
and the midpoint is 9.35. What is the upper endpoint of this class?
a) 9.50
b) 9.60
c) 9.70
d) 9.40
e) 9.80
A real estate appraiser is developing a regression model to predict the market value of
single family residential houses as a function of heated area, number of bedrooms,
number of bathrooms, age of the house, and central heating (yes, no). The "central
heating" variable in this model is _______.
a) a response variable
b) an independent variable
c) a quantitative variable
d) a dependent variable
e) a constant
Suppose a researcher is interested in understanding the variation in the price of store
brand milk. A random sample of 36 grocery stores selected from a population and the
mean price of store brand milk is calculated. The sample mean is $3.13 with a standard
deviation of $0.23. Construct a 99% confidence interval to estimate the population
mean..
a) $3.03 to $3.23
b) $3.12 to $3.14
c) $3.05 to $3.21
d) $2.90 to $3.36
e) $3.06 to $3.20
A weighted aggregate price index where the weight for each item is computed by using
the quantities of the year of interest is known as the
a.Paasche Index
b. Simple Index
c. Laspeyres Index
d. Consumer Price index
e. Producer Price index
A standard normal distribution has the following characteristics:
a) the mean and the variance are both equal to 1
b) the mean and the variance are both equal to 0
c) the mean is equal to the variance
d) the mean is equal to 0 and the variance is equal to 1
e) the mean is equal to the standard deviation
A multiple regression analysis produced the following output from Minitab.
Regression Analysis: Y versus x1 and x2
S = 0.179449 R-Sq = 89.0% R-Sq(adj) = 87.8%
Analysis of Variance
These results indicate that ____________.
a) none of the predictor variables are significant at the 5% level
b) each predictor variable is significant at the 5% level
c) x1 is the only predictor variable significant at the 5% level
d) x2 is the only predictor variable significant at the 5% level
e) at least one of the variable is significant at 5% level
A cancer research group surveys 100 women more than 40 years old to test the
hypothesis that 50% of women in this age group have regularly scheduled
mammograms. Forty of the women respond affirmatively. Using a= 0.05, the critical
value of chi-square is _______.
a) 7.38
b) 5.02
c) 3.84
d) 5.99
e) 6.99
The Poisson distribution is being used to approximate a binomial distribution. Ifn=30
andp=0.03, what value of lambda would be used?
a) 0.09
b) 9.0
c) 0.90
d) 90
e) 30
The exponential distribution is an example of _______.
a) a discrete distribution
b) a continuous distribution
c) a bimodal distribution
d) a normal distribution
e) a symmetrical distribution
The one-sample runs test is a nonparametric test of randomness in the sample data.
