A random sample of 13 hotels in Boston had an average nightly room rate of $172.10
with a sample standard deviation of $23.90. The approximate standard error of the
mean for this sample is ________.
A) 6.62
B) 11.56
C) 13.84
D) 14.16
The National Center for Education would like to estimate the average student debt for
the state of Ohio with a 95% confidence interval and a margin of error within plus or
minus $2,500. Assuming the standard deviation for student debt in this state is $8,000,
the required sample size is ________.
A) 40
B) 62
C) 78
D) 95
The ________ is the value that appears most often in a data set.
A) mean
B) median
C) mode
D) range
The ________ probability distribution is useful when the majority of the data tend to be
in the middle of the distribution.
A) Poisson
B) normal
C) exponential
D) uniform
Zappos is an online retailer based in Nevada and employs 1,300 employees. One of
their competitors, Amazon.com, would like to test the hypothesis that the average age
of a Zappos employee is less than 36 years old. A random sample of 22 Zappos
employees was found to have an average age of 33.9 years. The standard deviation for
this sample was 4.1 years. Amazon would like to set α = 0.025. The p-value for this
hypothesis test would be between ________.
A) 0.01 and 0.025
B) 0.025 and 0.05
C) 0.05 and 0.10
D) 0.10 and 0.20
The following data represents the ages of a household that consists of five people.
The median of this data set is ________.
A) 7
B) 9.5
C) 12
D) 24.5
A telemarketer calls individuals at home over the phone and ask them the likelihood
that they will purchase a timeshare property over the next 12 months. This method of
gathering data is known as ____________.
A) direct observation
B) focus groups
C) experiments
D) surveys
A retail chain would like to test if a difference exists between the variability of
customer satisfaction scores from two locations. The following data represents
satisfaction scores from a random sample of customers from these locations on a scale
of 1-20.
The test statistic for this hypothesis test would be ________.
A) 1.96
B) 2.43
C) 3.07
D) 3.50
A condominium complex contains 20 units. The following data shows the number of
individuals living in each unit.
Using the first row of data as a sample, the sampling error is ________.
A) 0.00
B) 0.40
C) -0.90
D) 0.25
A marketing manager for a textbook publisher meets with a group of several students
who are paid to discuss what they like and dislike about their textbooks. This method of
gathering data is known as _____________.
A) direct observation
B) focus groups
C) experiments
D) surveys
When performing a hypothesis test to compare two or more population proportions, the
test statistic follows the ________.
A) normal distribution
B) Student’s t-distribution
C) chi-square distribution
D) F-distribution
Hamburgers are on the menu tomorrow at a school cafeteria and the manager needs to
decide how many to have ready for the lunch hour. Each hamburger costs the school
$1.85 and is sold for $3.50. Leftover hamburgers have no monetary value. The manager
expects demand tomorrow to be 100, 150, 200, or 250 hamburgers and would like to
prepare one of these four quantities for lunchtime. If the manager uses the Hurwicz
criterion with , how many hamburgers will be prepared?
A) 100
B) 150
C) 200
D) 250
According to Pew Research Center, 71% of Internet users accessed video-sharing sites
last month. A random sample of 50 Internet users was selected. Using the normal
approximation to the binomial distribution, what is the probability that fewer than 40
people from this sample access video-sharing sites?
A) 0.5675
B) 0.6293
C) 0.8944
D) 0.9406
The Centers for Disease Control (CDC) would like to test the hypothesis that the
proportion of obese adults in the U.S. has increased this year when compared to last
year. A random sample of 125 adults this year found that 56 were obese. Last year, a
random sample of 140 adults found that 42 were obese. If Population 1 is defined as
this year and Population 2 is defined as last year, and using α = 0.01, which one of the
following statements is true?
A) Because the p-value is less than α, the CDC cannot conclude that the proportion of
obese adults in the U.S. has increased this year when compared to last year.
B) Because the p-value is greater than α, the CDC cannot conclude that the proportion
of obese adults in the U.S. has increased this year when compared to last year.
C) Because the p-value is less than α, the CDC can conclude that the proportion of
obese adults in the U.S. has increased this year when compared to last year.
D) Because the p-value is greater than α, the CDC can conclude that the proportion of
obese adults in the U.S. has increased this year when compared to last year.
The table below shows the number of cars sold last month by seven employees at
Concord Motors and their number of years of sales experience.
The Spearman rank-order correlation coefficient for this sample is ________.
A) “0.519
B) 0.634
C) 0.726
D) “0.774
The following table shows the stock price for Facebook at the end of the past four
quarters.
Which of the following data types best describe these values?
A) cross-sectional
B) nominal
C) time series
D) ordinal
The following data represent the end-of-month stock price of Facebook rounded to the
nearest dollar from June to December.
The trend projection intercept for this data is ________.
A) -1.6935
B) -3.4009
C) 26.5714
D) 38.2850
A retail chain would like to test if a difference exists between the variability of
customer satisfaction scores from two locations. The following data represents
satisfaction scores from a random sample of customers from these locations on a scale
of 1-20.
The degrees of freedom for the critical value for Population 2 would be ________.
A) 4
B) 5
C) 6
D) 7
Which levels of measurement are considered qualitative data?
A) interval and ratio
B) nominal and interval
C) ordinal and ratio
D) nominal and ordinal
The ________ is the value in the data set for which half the observations are higher and
half the observations are lower.
A) median
B) mode
C) mean
D) average
The National Center for Education Statistics would like to test the hypothesis that the
proportion of Bachelor’s degrees that were earned by women equals 0.60. A random
sample of 140 college graduates with Bachelor degrees found that 75 were women. The
National Center for Education Statistics would like to set α = 0.10. Which one of the
following statements is true?
A) Because the p-value is greater than α, we fail to reject the null hypothesis and
conclude that the proportion of Bachelor’s degrees that were earned by women equals
0.60.
B) Because the p-value is greater than α, we fail to reject the null hypothesis and cannot
conclude that the proportion of Bachelor’s degrees that were earned by women does not
equal 0.60.
C) Because the p-value is less than α, we reject the null hypothesis and conclude that
the proportion of Bachelor’s degrees that were earned by women does not equal 0.60.
D) Because the p-value is less than α, we fail to reject the null hypothesis and cannot
conclude that the proportion of Bachelor’s degrees that were earned by women does not
equal 0.60.
Medicare would like to test the hypothesis that the average monthly rate for
one-bedroom assisted-living facility is equal to $3,300. A random sample of 12
assisted-living facilities had an average rate of $3,690 per month. The standard
deviation for this sample was $530. Medicare would like to set α = 0.05. Which one of
the following statements is true?
A) Because the p-value is greater than α, we fail to reject the null hypothesis and cannot
conclude that the average monthly rate for an assisted-living facility is not equal to
$3,300.
B) Because the p-value is greater than α, we fail to reject the null hypothesis and
conclude that the average monthly rate for an assisted-living facility is equal to $3,300.
C) Because the p-value is less than α, we fail to reject the null hypothesis and conclude
that the average monthly rate for an assisted-living facility is not equal to $3,300.
D) Because the p-value is less than α, we reject the null hypothesis and conclude that
the average monthly rate for an assisted-living facility is not equal to $3,300.
A ________ distribution is useful for calculating the probability that a certain number
of events will occur over a specific interval of time or space.
A) binomial
B) Poisson
C) normal
D) hypergeometric
State University offers several sections of a Business Statistics course in an in-class and
online format. Both formats are administered the same final exam each year. You have
been assigned to test the hypothesis that the median final exam score of in-class
students is higher than the median final exam score of online students. The following
table shows the exam scores for a random sample of students from both classes.
The appropriate nonparametric procedure for this analysis is the _________________
test.
A) sign
B) Wilcoxon signed-rank
C) Kruskal-Wallis
D) Wilcoxon rank-sum
Deanna has been hired to visit the local shopping mall to conduct a survey about the
upcoming political election. She needs to select respondents at the mall and ask them
questions about their voting tendencies. Deanna decides to set up a booth with a sign
offering to pay shoppers $20 if they respond to her survey. Which of the following
sampling techniques best describes Deanna’s method?
A) stratified
B) convenience
C) simple random
D) systematic
Two real estate companies, Century 21 and RE/MAX, compete with one another in a
local market. The manager of the Century 21 office would like to advertise that homes
listed with RE/MAX average more than 10 days on the market when compared to
homes listed with his company. The following data shows the sample size and average
number of days on the market for the two companies along with the population standard
deviations.
If Population 1 is defined as RE/MAX and Population 2 is defined as Century 21, the
test statistic for this hypothesis test would be ________.
A)
B)
C)
D)
The following contingency table shows the number of customers who bought various
brands of digital cameras at Walmart and Best Buy.
The probability that a randomly selected customer from this sample bought a Sony
camera and purchased the camera at Best Buy is ________.
A) 0.064
B) 0.114
C) 0.168
D) 0.270
A ________ confidence interval is often used in scientific or medical research when
making a wrong conclusion about a population parameter is very costly.
A) 90%
B) 95%
C) 99%
D) 100%
Suppose the average price for new cars in 2012 has a mean of $30,100 and a standard
deviation of $5,600. Based on this information, what interval of prices would we expect
at least 89% of new car prices to fall within?
A) $24,500 to $35,700
B) $18,900 to $41,300
C) $13,300 to $46,900
D) $7,700 to $52,500
The number on baseball players’ uniforms is an example of nominal data.