Assume a student received the following grades for the semester: History, B; Statistics,
A; Spanish, C; and English, C. History and English are 5 credit-hour courses, Statistics
a 4 credit-hour course, and Spanish is a 3 credit-hour course. If 4 grade points are
assigned for an A, 3 for a B, and 2 for a C, what is the weighted mean grade for the
semester?
A. 4.00
B. 1.96
C. 2.76
D. 3.01
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
A sample of 250 adults tried the new multigrain cereal “Wow!” A total of 187 rated it as
excellent. In a sample of 100 children, 66 rated it as excellent. Using the 0.1
significance level, the researcher wishes to show that adults like the cereal better than
children. What is the pooled proportion?
A. 0.723
B. 1.408
C. 0.494
D. 0.807
For the third quarter, the sales are 2,000 units; the seasonal index for the quarter is 0.80.
What are the deseasonalized sales for the quarter?
A. 1,600
B. 2,000
C. 2,080
D. 2,500
A curve that graphs the percent defective versus the probability of accepting that
percent defective is referred to as:
A. a percent defective chart.
B. a range chart.
C. an operating characteristic curve or OC curve.
D. a c-bar chart.
What is the correct order of events in a typical business cycle?
A. Prosperity, recession, depression, and recovery
B. Depression, recovery, recession, and prosperity
C. Recovery, depression, prosperity, and recession
D. Recession, recovery, prosperity, and depression
A recent study focused on the number of times men and women send a Twitter message
in a day. The information is summarized next.
At the .01 significance level, is there a difference in the mean number of times men and
women send a Twitter message in a day? Based on the p-value, what is your
conclusion?
A. Reject the null hypothesis and conclude the means are different.
B. Reject the null hypothesis and conclude the means are the same.
C. Fail to reject the null hypothesis.
D. Fail to reject the null hypothesis and conclude the means are different.
The weight of cans of fruit is normally distributed with a mean of 1,000 grams and a
standard deviation of 50 grams. What percent of the cans weigh 860 grams or less?
A. 0.0100
B. 0.8400
C. 0.0026
D. 0.0001
The probability of a Type II error is directly related to ________.
A. α
B. the standard deviation
C. the Type I error
D. the difference between the hypothesized mean and the sample mean
A hypothesis regarding the weight of newborn infants at a community hospital is that
the mean is 6.6 pounds. A sample of seven infants is randomly selected and their
weights at birth are recorded as 9.0, 7.3, 6.0, 8.8, 6.8, 8.4, and 6.6 pounds. What are the
degrees of freedom?
A. 7
B. 8
C. 6
D. 6.6
The forecast for the third quarter is 3,000 units; the seasonal index for the quarter is
0.75. What are the seasonally adjusted sales for the quarter?
A. 3,000
B. 3,079
C. 2,250
D. 1,015
If r = 0.65, what does the coefficient of determination equal?
A. 0.1945
B. 0.4225
C. 0.5778
D. 0.8061
A frequency distribution has a mean of 200 and a standard deviation of 20. The class
limits for one class are 220 up to 240. Based on the normal distribution, what is the
probability that an observation would be in this class?
A. 0.1359
B. 0.3413
C. 0.4772
D. 0.8185
What type of variable is the number of gallons of gasoline pumped by a filling station
during a day?
A. Qualitative
B. Continuous
C. Attribute
D. Discrete
If two events are independent, then their joint probability is computed with _________.
A. The special rule of addition
B. The special rule of multiplication
C. The general rule of multiplication
D. The Bayes theorem
The following table shows the sales for a resort hotel recorded over the past year. The
seasonal indexes for each quarter are also provided. To track the trend for these four
quarters, use the indexes to deseasonalize the sales data.
What is the deseasonalized sales value for quarter 1?
Students were sampled in order to determine their support for the legalization of
gambling in their community. A sample of 150 students were asked whether or not they
supported legalization of gambling, and the following results were obtained.
The value of the chi-square test statistic equals _____.
A. -3
B. -2
C. +3
D. 4
Applying probabilities to a payoff table results in:
A. expected opportunity loss for each alternative or act.
B. expected monetary value for each alternative or act.
C. value of perfect information.
D. a decision tree.
Airlines monitor the causes of flights arriving late. A total of 75% of flights are late
because of weather, while 35% of flights are late because of ground operations. A full
10% of flights are late because of weather and ground operations. What is the joint
probability that a flight arrives late because of weather and ground operations?
ANSWER:
10% or 0.10
Feedback: A joint probability is P(A and B) = P(A) P(B). The problem provides the
What is an advantage of the least squares method for determining a trend line equation?
A. It minimizes the error sum of squares.
B. It is subject to human error.
C. Forecasts have zero error.
D. It is easy to calculate by hand.
The following stem-and-leaf display reports the number of boats shipped per week by
Ottertail Boats, Inc.
11| 1 5 9
12| 0 1 2 2 6 9
13| 0 1 2 3 4 5 5 7 8 8 9
14| 2 6 8
15| 0 1 2 4 5 7 8 9
16| 1 5 7 9
What is the median value?
Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are
shown next.
What is the simple price relative for fuel oil?
In flipping a fair coin, what is the probability of either heads or tails on one toss?
A sample of five full-service gasoline stations, each carrying three grades of gasoline,
was taken, and the price per liter (to the nearest cent) was recorded for each grade of
gasoline, as shown in the following table.
What is the median price of super unleaded gas?
In a multiple regression model, the ____ test statistic is used to test the significance of
an independent variable’s regression coefficient.
The probability of selecting a professor who is male and has a master’s degree is called
a ______________.
The maximin strategy is a __________ strategy for decision making.
In decision theory, _______ create uncertainty in selecting an alternative.
A new printing machine is set or calibrated to print 25 copies per minute. On each of
four days, the printer’s output is measured five times. The data will be used to construct
a process control chart to monitor the printing process. The results of the printing
process are in the following table.
To construct a range process control chart, what is the mean range?
When the population standard deviations are unknown, the purpose of pooling the
sample variances when testing the difference between two populations is to
___________.