The chi-square test statistic used in a goodness-of-fit test has k – 1 degrees of freedom.
Pearson’s coefficient of skewness is a measure of a distribution’s symmetry.
In a Poisson distribution, the probability of success may vary from trial to trial.
In a company, the standard deviation of the ages of female employees is 6 years and the
standard deviation of the ages of male employees is 10 years. These statistics indicate
that the dispersion of age is greater for females than for males.
In multiple regression analysis, a residual is the difference between the value of an
independent variable and its corresponding dependent variable value.
The finite population correction factor is used to adjust the z-statistic.
If the null hypothesis is ≥ 200, then a two-tail test is being conducted.
The Wilcoxon rank-sum test includes a variable, W. It is the sum of the observed values
from the larger sample.
In a stem-and-leaf display, the leaf represents the members of a class in a frequency
distribution.
Episodic and residual variations can be projected into the future.
All indexes have the same base, namely 1982-84, written 1982-84 = 100.
If two dependent samples of size 20 are used to test the difference between the means,
the degrees of freedom for a t-statistic are 1
Each salesperson in a large department store chain is rated on their sales ability and
their potential for advancement. The data for the 500 sampled salespeople are
summarized in the following table.
What is the probability that a salesperson selected at random will have below average
sales ability and fair potential for advancement?
A. 0.032
B. 0.10
C. 0.16
D. 0.32
A sales manager for an advertising agency believes that there is a relationship between
the number of contacts that a salesperson makes and the amount of sales dollars earned.
A regression analysis shows the following results:
What is the standard error of the slope?
A. 0.176
B. 6.560
C. -12.201
D. 12.505
A valid multiple regression analysis assumes or requires that _________________.
A. The dependent variable is measured using an ordinal, interval, or ratio scale
B. The residuals follow an F distribution
C. The independent variables and the dependent variable have a linear relationship
D. The observations are autocorrelated
Consider a regression and correlation analysis where r2 = 1. We know that:
A. SSE must be greater than one.
B. SSE must be greater than SS Total.
C. SSE can take on any negative or positive value.
D. SSE must equal to zero.
Refer to the following distribution of commissions:
What is the relative frequency of those salespersons that earn $1,600 or more?
A. 25.5%
B. 27.5%
C. 29.5%
D. 30.8%
Refer to the following breakdown of responses to a survey of “Are you concerned about
being tracked while connected to the Internet?”
What is the class interval for the preceding frequency table?
A. 10
B. 20
C. 40
D. None Apply
Accounting procedures allow a business to evaluate their inventory costs based on two
methods: LIFO (Last In First Out) or FIFO (First In First Out). A manufacturer
evaluated its finished goods inventory (in $000s) for five products with the LIFO and
FIFO methods. To analyze the difference, they computed (FIFO – LIFO) for each
product. Based on the following results, does the LIFO method result in a lower cost of
inventory than the FIFO method?
If you use the 5% level of significance, what is the critical t value?
A. +2.132
B. 2.132
C. +2.262
D. 2.228
A new machine is set or calibrated to fill tubes of toothpaste at precisely 6.75 ounces.
Then, once the machine is running, a sample of six tubes is taken every three hours and
weighed with the following results:
What is the upper control limit (UCL) for the mean?
A. 6.738
B. 6.999
C. 6.777
D. 7.221
In the regression equation, what does the letter “Y” represent?
A. The Y-intercept
B. The slope of the line
C. The independent variable
D. The dependent variable
When an event’s probability depends on the likelihood of another event, the probability
is a(n) ___________.
A. Conditional probability
B. Empirical probability
C. Joint probability
D. Mutually exclusive probability
Refer to the following distribution of commissions:
For the preceding distribution, what is the midpoint of the class with the greatest
frequency?
A. 1,400
B. 1,500
C. 1,700
D. The midpoint cannot be determined.
Which of the following statements about autocorrelation are TRUE?
I. Successive residuals are often correlated in time series because an event in one time
period often influences the event in the next period.
II. If residuals are correlated, we can use r as the coefficient of correlation and conduct
the common tests of hypothesis about regression coefficients.
III. A Durbin-Watson statistic d is used, instead of directly conducting a hypothesis test
on r.
A. I only
B. II only
C. II and III
D. I and III
In multiple regression analysis, residuals (Y – Ŷ) are used to _____________.
A. Provide a global test of a multiple regression model
B. Evaluate multicollinearity
C. Evaluate homoscedasticity
D. Compare two regression coefficients
The variance inflation factor can be used to reduce multicollinearity by _________.
A. Eliminating variables for a multiple regression model
B. Decreasing homoscedasticity
C. Evaluating the distribution of residuals
D. Testing the null hypothesis that all regression coefficients equal zero
Refer to the following breakdown of responses to a survey of “How confident are you
that you saved enough to retire?”
What is the class with the greatest frequency?
A. Very confident
B. Somewhat confident
C. Not very confident
D. Don’t know
Two accounting professors decided to compare the variance of their grading procedures.
To accomplish this, they each graded the same 10 exams, with the following results:
The calculated F ratio is ______.
A. 3.484
B. 1.867
C. 3.18
D. 5.35
A major distributor buys shoes from a supplier. The distributor randomly samples the
shoes to inspect for quality. The distributor’s specifications state that a delivery of 100
pairs of shoes will be accepted only if the number of defective pairs of shoes in a
sample of 10 pairs is two or less. Based on the sampling plan, what is the probability of
accepting the delivery of 100 pairs of shoes if the actual percent defective is 0.00?
We are interested in knowing if the following frequency distribution is normally
distributed. The population mean and standard deviation of the data are 600 and 160,
respectively.
What are the standard normal z-statistic class limits for the “400 up to 600” class?
In a one-way ANOVA, the degrees of freedom associated with the error sum of squares
is __________.
In a market research study involving 11 people, 7 preferred Product X, 3 preferred
Product Y, and 1 expressed no preference. A sign test is selected using the 0.05 level of
significance. What is the null hypothesis?
A plastics manufacturer performed a quarterly time series analysis for demands over the
last five years (periods 1 through 20). The analysis resulted in the following trend
equation and seasonal indexes:
Ŷ = 920.0 + 22.6t
Based on the seasonal indexes, which quarter is expected to have 25% less demand than
predicted by the trend line?
Elly’s Hotdog Emporium is famous for its chilidogs. Elly’s latest sales indicate that 30%
of the customers order their chilidogs with hot peppers. Suppose 15 customers are
selected at random. What is the probability that exactly 10 customers will ask for hot
peppers?
A survey of property owners’ opinions about a street-widening project was taken to
determine if owners’ opinions were related to the distance between their home and the
street. A randomly selected sample of 100 property owners was contacted and the
results are shown next.
What are the degrees of freedom for testing the null hypothesis?
A population consists of the following five values: 3, 8, 11, 13, and 16. From this
population, there are 10 different samples of size 3. The means of the 10 samples of size
3 are 7.33, 8, 9, 9, 10, 10.67, 10.67, 11.67, 12.33, and 13.33. Compare the dispersion in
the population with that of the sample means.
The 2001 CPI was 171.1 (1982-84 = 100). What is the purchasing power of the dollar
relative to the base?
In a study of protein breakfast bars, five bars from each of three brands were tested to
see if the mean amount of protein per bar differs among the brands. To select a critical
F-statistic, the number of degrees of freedom for the numerator is _____.