If the variance of the “number of daily parking tickets issued is 100, the standard
deviation is defined as the _____________.
A. “Number of daily parking tickets”
B. “Number of daily parking tickets” squared
C. Absolute value of the variance of the “number of daily parking tickets”
D. Square root of the variance of the “number of daily parking tickets”
Based on the Empirical rule, what percent of the observations will lie between plus or
minus two standard deviations from the mean?
A. 95%
B. 5%
C. 68%
D. 2.5%
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. What is the p-value?
A. 0.0250
B. 0.4525
C. 0.9525
D. 0.0500
In multiple regression analysis, when the independent variables are highly correlated,
this situation is called __________________.
A. Autocorrelation
B. Multicollinearity
C. Homoscedasticity
D. Curvilinearity
Using the following information:
The regression analysis can be summarized as follows:
A. No significant relationship exists between the variables.
B. A significant negative relationship exists between the variables.
C. A significant positive relationship exists between the variables.
D. For every unit increase in X, Y decreases by 12.8094.
The mean length of a candy bar is 43 millimeters. There is concern that the settings of
the machine cutting the bars have changed. Test the claim at the 0.02 level that there has
been no change in the mean length. The alternate hypothesis is that there has been a
change. Twelve bars (n = 12) were selected at random and their lengths recorded. The
lengths are (in millimeters) 42, 39, 42, 45, 43, 40, 39, 41, 40, 42, 43, and 42. The mean
of the sample is 41.5 and the standard deviation is 1.784. Computed t = -2.913. Has
there been a statistically significant change in the mean length of the bars?
A. Yes, because the computed t lies in the rejection region.
B. No, because the information given is not complete.
C. No, because the computed t lies in the area to the right of -2.718.
D. Yes, because 43 is greater than 41.5.
To calculate monthly typical seasonal indexes, how many periods are included in the
ratio-to-moving-average method?
A. 2
B. 4
C. 6
D. 12
Refer to the following information from a frequency distribution for “heights of college
women” recorded to the nearest inch: the first two class midpoints are 62.5″ and 65.5″.
What are the class limits for the lowest class?
A. 61 and up to 64
B. 62 and up to 64
C. 62 and 65
D. 62 and 63
The national sales manager for “I colored this” (ICT) T-shirts provides all salespersons
with the payoff table shown next, giving the estimated profit when a retailer purchases
from one to four dozen T-shirts. The probability of demand for each state of nature is
also shown.
How many dozen “I colored this” T-shirts should be purchased to yield the highest
expected monetary value?
A. 1
B. 2
C. 3
D. 4
Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown
next.
What is the Laspeyres price index?
A. 112.70
B. 179.08
C. 111.97
D. 109.36
Random samples of four items are selected from a manufacturing process at regular
intervals and a certain quality characteristic is measured. After 25 samples, ΣX =
15,350 and ΣR = 411.4. To construct a mean chart, what is the upper control limit
(UCL) for the mean?
A. 614.00
B. 411.4
C. 625.996
D. 3837.5
The Intelligence Quotient (IQ) test scores for adults are normally distributed with a
mean of 100 and a standard deviation of 15. What is the probability we could select a
sample of 50 adults and find that the mean of this sample is between 98 and 103?
A. 0.3264
B. 0.9428
C. 0.4702
D. 0.7471
What kind of distributions are the binomial and Poisson probability distributions?
A. Discrete
B. Continuous
C. Both discrete and continuous
D. Neither discrete or continuous
For a given population, the mean of all the sample means of sample size n,
and the mean of all (N) population observations (X) are _______.
A. Equal to
B. Not equal
C. Equal to
D. Equal to the population mean
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 hypothesis tests for the individual regression coefficients,
_____________.
A. All the regression coefficients are not equal to zero
B. “Job” is the only non-significant variable in the model
C. The intercept is the only significant variable in the model
D. “Service” is the only significant variable in the model
In a management trainee program, 80% of the trainees are female, while 20% are male.
Ninety percent of the females attended college; 78% of the males attended college. A
management trainee is selected at random. What is the probability that the person
selected is a female who did NOT attend college?
A. 0.20
B. 0.08
C. 0.25
D. 0.80
For the past week, a company’s common stock closed with the following prices: $61.5,
$62, $61.25, $60.875, and $61.5. What was the price range?
A. $1.250
B. $1.750
C. $1.125
D. $1.875
The distribution of Student’s t is ________.
A. symmetrical
B. negatively skewed
C. positively skewed
D. a discrete probability distribution
Carlson Jewelers permits the return of their diamond wedding rings, provided the return
occurs within two weeks of the purchase date. Their records reveal that 10% of the
diamond wedding rings are returned. Five different customers buy a wedding ring.
What is the probability that none of the customers return a ring?
A. 0.250
B. 0.073
C. 0.590
D. 0.500
A ___________ is the best way to display the relationship between two variables
measured on an interval or ratio level.
A study conducted by a local tennis center revealed that 25 percent of its new members
have novice level tennis skills. A membership drive in a metropolitan area resulted in
500 new members. What is the mean and standard deviation to apply the normal
approximation to the binomial?
A company set up a kiosk in the Mall of America for several hours and asked randomly
selected people which color cell phone cover was their favorite. The results follow:
What is the probability of randomly selecting a person who likes white cell phones the
best?
A telemarketing firm is monitoring the performance of its employees based on the
number of sales per hour. One employee had the following sales for the last 19 hours.
For the distribution of number of sales per hour, what is the interquartile range?
A multiple regression analysis showed the following results of the individual
independent variables.
Which independent variables are significantly related to the dependent variable?
The mean of a binomial distribution is calculated using ____.
A manufacturer claims that less than 1% of all its products do not meet the minimum
government standards. A survey of 500 products revealed that 10 did not meet the
standard. Thus, if α = .01, the critical value is ____________.