Archives: Quiz

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. If we wanted to see if tossing a die (a cube […]

The major advantage of ordinal data over nominal data is that it allows for _________________. What are the two population parameters that specify the location and dispersion for the sampling distribution of the mean? Answer: µ, the population mean, and […]

A New York newspaper reported the average gasoline prices in four metropolitan areas and used a bar chart to illustrate the differences. What type of statistics was shown? What activities did the newspaper use to make the report? In a […]

For hypotheses that compare two population means, what test statistic is used when the population standard deviations are unknown? The following frequency distribution shows the distribution of delivery times (in days) for swimstuff.com customer orders during the last month. How […]

A random sample of 20 female executives from companies with assets over $1 million was selected and asked for their annual income and level of education. The ANOVA comparing the average income among three levels of education rejected the null […]

From past history, the scores on a statistics test are normally distributed with a mean score of 70 and a standard deviation of 5. To earn a “C” on the test, a student must be in the top 25% of […]

A company is researching the effectiveness of a new website design to decrease the time to access a website. Five website users were randomly selected and their times (in seconds) to access the website with the old and new designs […]

The chi-square distribution is _____________. A. Positively skewed B. Negatively skewed C. Normally distributed D. Uniformly distributed A recent study of the relationship between social activity and education for a sample of corporate executives showed the following results. The appropriate […]

The regression equation is Ŷ = 29.29 – 0.96X, the sample size is 8, and the standard error of the slope is 0.22. What is the critical value to test the significance of the slope at the 0.01 significance level? […]

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 […]

A personnel manager is concerned about absenteeism. She decides to sample employee records to determine if absenteeism is distributed evenly throughout the six-day workweek. The null hypothesis is: Absenteeism is distributed evenly throughout the week. Use the 0.01 level of […]

The annual income for a sample of 500 part-time students is normally distributed with a mean income of $30,000 and a standard deviation of $3,000. The income range that separates the top 25% from the lower 75% is __________. When […]

If the correlation coefficient between two variables, X and Y, equals zero, what can be said of the variables X and Y? A. The variables are not related. B. The variables are dependent on each other. C. The variables are […]

In a contingency table, we describe the relationship between ________. A. Two variables measured at the ordinal or nominal level B. Two variables, one measured as an ordinal variable and the other as a ratio variable C. Two variables measured […]

A student was interested in the cigarette smoking habits of college students and collected data from an unbiased random sample of students. The data is summarized in the following table: Why is the table NOT a frequency distribution? A. The […]

Quartiles divide a distribution into ___________. A. 2 equal parts B. 4 equal parts C. 10 equal parts D. 100 equal parts Refer to the following distribution: What is the relative class frequency for the $25 up to $35 class? […]

For the following distribution of heights, what are the limits for the class with the greatest frequency? A. 64 and up to 70 B. 65 and 69 C. 65 and up to 70 D. 69.5 and 74.5 The mean of […]

In multiple regression analysis, a dummy variable is ____________. A. An additional quantitative variable B. A nominal variable with three or more values C. A nominal variable with only two values D. A new regression coefficient The mean annual income […]

In an ANOVA table for a multiple regression analysis, the regression mean square is __________. A. The treatment sum of squares divided by the regression degrees of freedom B. n – (k + 1) C. The regression sum of squares […]

Refer to the following distribution of ages: What is the class midpoint of the highest class? A. 54 B. 55 C. 64 D. 65 A random sample of 20 items is selected from a population. When computing a confidence interval […]

When dividing a population into subgroups so that a random sample from each subgroup can be collected, what type of sampling is used? A. Simple random sampling B. Systematic sampling C. Stratified random sampling D. Cluster sampling Answer: C. In […]

A study of interior designers’ opinions with respect to the most desirable primary color for executive offices showed that: What is the probability that a designer does not prefer red? A. 1.00 B. 0.77 C. 0.73 D. 0.23 Answer: B. […]

Which of the following is NOT necessary to determine how large a sample to select from a population? A. The level of confidence in estimating the population parameter B. The size of the population C. The maximum allowable error in […]

For a data set, half of the observations are always greater than the ____. A. Median B. Mode C. Mean D. Standard deviation Answer: A. Half of the observations will be larger than the median and half smaller. This is […]

What must you know to develop a binomial probability distribution? A. The probability of success B. The probability of success and the number of trials C. The probability of success and the number of successes D. The number of trials […]

When testing the difference between two dependent population means, the test statistic is based on a ______________. A. Pooled variance B. Standard deviation of the differences C. Pooled proportion D. Sum of the population variances Answer: B. When the samples […]

A frequency distribution for qualitative data has class limits. A statistics professor wants to compare grades in two different classes of the same course. This is an example of a paired sample. Answer: FALSE The professor must assume the two […]

To employ ANOVA, the populations being studied must be approximately normally distributed. A marketing research agency was hired to test a new DVD player. Consumers rated it outstanding, very good, fair, or poor. The level of measurement for this experiment […]

For any data set, Chebyshev’s Theorem estimates the proportion of observations that occurs within k standard deviations of the mean, where k is greater than 1.0. Answer: TRUE The variance inflation factor is used to select or remove independent variables […]

Based on the central limit theorem, the sample mean can be used as a good estimator of the population mean, assuming that the size of the sample is sufficiently large. Answer: FALSE The results of the central limit theorem refer […]

For any distribution, there are an equal number of values above and below the mean. Answer: FALSE There are an equal number of observations above and below the median. The central limit theorem states that if the sample size, n, […]

The regression equation is used to estimate a value of the dependent variable Y based on a selected value of the independent variable X. Answer: TRUE A p-value is the same as a stated significance level. Answer: FALSE A p-value […]

All state licensed and certified appraisers must conform to USPAP regardless of the appraisal assignment. The equity residual technique analyzes the cash flow, rather than the net operating income from an investment. Answer: T Under FIRREA, not every appraisal for […]

To improve the quality of appraising, many professional appraisal groups require members to follow a code of ethics. Such codes typically require the appraiser to a. Have no undisclosed financial interest in the property appraised b. Keep the value conclusion […]

Which of these methods would be used to appraise a single-residential site in a built-up neighborhood where no vacant land sales are found? a. The abstraction method b. The land residual method c. The land development method d. None of […]

The criteria for estimating the highest and best use of land include all the following except a. Most or maximally productive b. Physically possible and legally permissible c. Economically feasible d. The typical use The best test of functional utility […]

The age-life method of estimating accrued depreciation suggests that a. The age of the building depends on its life b. Annual value loss is proportional to the total life expectancy c. All buildings depreciate at the same rate d. Loss […]

USPAP requires that prior sales of the subject property be considered when they have occurred a. Within one year for one-to-four family residential b. Within 3 years for all other property c. Within 3 years d. None of the above […]

Land or site value estimates are important only in the appraisal of vacant properties. Allowable deduction from book value is one of the four basic appraisal methods for measuring accrued depreciation. Answer: F Using “matched pairs” of comparable sales is […]

As a general term, value means the worth, usefulness, or utility of an object. Accrued depreciation can be defined in appraisal terms as the total loss in value from all causes. Answer: T Tangible property can include both real property […]

Which of the following deals with the role of MIS? A) determine decision makers’ information needs B) acquire the needed information C) distribute information to the decision makers in a form in which they can use it for decision making […]

The most commonly used level of confidence when calculating a confidence interval is: A) 68% B) 90% C) 95% or 99% D) 100% E) none of the above; there can be no confidence since we are dealing with statistics The […]

Discontinuous panels are sometimes called ________ panels. A) inquisitional B) repeatability C) population D) sample E) omnibus According to your text, which of the following is NOT true regarding syndicated data? A) Syndicated data are collected in a standard format […]

Which step is right after question development in the Questionnaire Development Process? A) Determine research objectives B) Decide on data collection method C) Question evaluation D) Pretest E) Revise as needed A(n) ________ is a break-off where the respondent stops […]

Since its first completion, the American Community Survey has been offering ________ estimates for geographic areas with a population of 65,000 or more, while geographic areas with populations of 20,000 or more can access ________-year estimates, and areas with populations […]

Hypotheses are used to generate theory and laws and they have no place in problem definition. The standard error of the percentage depends on two factors: the variability, denoted by p x q, and the sample size, n. Answer: TRUE […]

The statistician Tukey coined Type II errors as those made solving the wrong problem. The three basic question formats are: open-ended, categorical, and metric. Answer: TRUE The marketing intelligence system gathers information generated by internal reports, which includes order billing, […]

Generalization is ‘stronger” when we use larger samples. A scatter diagram plots data pairs in an x- and y-axis graph. Answer: TRUE We would use cross-tabulation if we wanted to assess the statistical significance of categorical relationships. Answer: TRUE Online […]

Since its first completion, the ACS has been offering yearly estimates for geographic areas with a population of 75,000 or more. Conducting marketing research periodically allows management a method of monitoring company performance in order to spot problems early. Answer: […]

The straight-line formula for a linear relationship is y=a + bx. Hypothesis testing is a statistical procedure used to accept or reject the hypothesis based on sample information. Answer: FALSE Secondary data is readily available for very few applications. Answer: […]