Docsity
Docsity

Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity


Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan


Guidelines and tips
Guidelines and tips

37 Multiple Choice Questions on Business Statistics with Answers | BUSA 3050, Exams of Business Statistics

Material Type: Exam; Professor: Kim; Class: Business Statistics; Subject: Business Administration; University: Dalton State College; Term: Summer 2011;

Typology: Exams

2010/2011

Uploaded on 06/29/2011

mchang813
mchang813 🇺🇸

4 documents

1 / 14

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
Jump to Navigation Frame
Your location: Home Page Exams Exam1 Assessments
View All Submissions View Attempt
View Attempt 1 of 1
Title: Exam1
Started: June 28, 2011 10:55 AM
Submitted: June 28, 2011 12:24 PM
Time spent: 01:28:40
Total
score: Total score adjusted by 0.0 Maximum possible score: 45
1-2 Direction
1.
I pledge my honor that all the work on this test is my own.
Student
Response
Value Correct
Answer
Feedback
A. Agree 100%
B. Do not
agree
(Choosing
this choice
will render
your exam
invalid and
result in
zero.)
Score: 0/0
2.
1. Round your answers to two places if necessary.
2. Save your answers frequently. You may be logged out of GAView without
noticing.
3. Short answer questions will be graded manually by the instructor.
Student
Response:
This is a part of direction for the exam. Therefore, you do not need to
write anything in this box.
Score: 0/0
3-32 Questions
3.
The data set shown below contains the following information about a sample of
Bloomington families: family size (small, medium, or large), number of cars
owned by family (1, 2, 3, or 4), and whether family owns a foreign car (1=yes,
pf3
pf4
pf5
pf8
pf9
pfa
pfd
pfe

Partial preview of the text

Download 37 Multiple Choice Questions on Business Statistics with Answers | BUSA 3050 and more Exams Business Statistics in PDF only on Docsity!

Jump to Navigation Frame Your location: Home Page Exams Exam1 Assessments View All Submissions › View Attempt

View Attempt 1 of 1

Title: Exam Started: June 28, 2011 10:55 AM Submitted: June 28, 2011 12:24 PM Time spent: 01:28: Total score: Total score adjusted by 0.0 Maximum possible score: 45 1-2 Direction 1. I pledge my honor that all the work on this test is my own. Student Response Value Correct Answer Feedback A. Agree^ 100% B. Do not agree (Choosing this choice will render your exam invalid and result in zero.) Score: 0/ 2.

  1. Round your answers to two places if necessary.
  2. Save your answers frequently. You may be logged out of GAView without noticing.
  3. Short answer questions will be graded manually by the instructor. Student Response: This is a part of direction for the exam. Therefore, you do not need to write anything in this box. Score: 0/ 3-32 Questions 3. The data set shown below contains the following information about a sample of Bloomington families: family size (small, medium, or large), number of cars owned by family (1, 2, 3, or 4), and whether family owns a foreign car (1=yes,

0=no). "Size" is a Student Response Value Correct Answer Feedback A. numerical B. categorical, nominal variable C. categorical, ordinal variable

General Feedback: Ch2-6. Distinguish different types of variables. Score: 1/ 4. Refer to the table shown in Question 3. The variable "Cars" is a Student Response Value Correct Answer Feedback A. numerical variable

B. categorical, nominal variable C. categorical, ordinal variable General Feedback: Ch2-6. Distinguish different types of variables. Score: 1/ 5. Refer to the table shown in Question 3. "OwnForeign" is a Student Response Value Correct Answer Feedback A. numerical

Score: 1/ 8. Refer to the dataset in question 7. What is the mode? Student Response Value Correct Answer

  1. 4 100% Equals 4 (100%) General Feedback: Ch3-1. Can you compute a mean/median/mode (by hand)? (p. 92-94) The most frequent number: 4. Score: 1/ 9. Family income of a certain city in 1985 was analyzed, and the histogram below was created. According to the histogram, the mean is likely to be ____ the median. Student Response Value Correct Answer Feedback A. greater than

B. equal to C. less than General Feedback: Ch2-9. What kind of insight can you get from a histogram? The mean is pulled toward the longer tail due to the extreme values in the tail. Score: 1/ 10. Refer to the histogram in question 9. What numerical measure do you recommend for the central tendency (that is, a typical value) of the family income? Student Response Value Correct Answer Feedback A. mean B. median^ 100% C. mode

Student Response Value Correct Answer Feedback D. IQR General Feedback: Ch3-2. When is a median better measure for a central location than a mean? (p. 93) Score: 1/ 11. Refer to the histogram in question 9. The box-plot should be used to find potential outliers instead of the empirical rules. Student Response Value Correct Answer Feedback A. True^ 100% B. False General Feedback: Ch3-11. What are the empirical rules of the standard deviation? (p.

Score: 1/ 12. After a certain exam, the 80th percentile of the scores is found to be 75. Then, about 80% of the students who took exam scored 75 or less. Student Response Value Correct Answer True 100% True General Feedback: Ch3-4. What is the interpretation of a quartile or percentile? Score: 1/ 13. The measure of location which is the most likely to be influenced by extreme values in the data set is the Student Response Value Correct Answer Feedback A. IQR^ 0% B. median C. mode

Score: 1/ 16. Q1, Q2 and Q3 of a certain sample is 40, 47 and 50, respectively. What is the value of the end of the upper whisker of the following box plot? Student Response Value Correct Answer

  1. 45 0% Equals 65 (100%) General Feedback: Ch3-16. What numbers are used in a box plot? Can you construct a box plot by hand? (p. 111) Upper end = Q3 + 1.5(Q3-Q1) = 50 + 1.5(50-40) = 65 Score: 0/ 17. Refer to the boxplot in question 16. Find all outlier(s) among the following values: 9, 11, 24, 33 Student Response Value Correct Answer Feedback A. 9 B. 9, 11 C. 9, 11, 24^ 100% D. 9, 11, 24, 33 General Feedback: Ch3-17. What insights can you get from a box plot? (p. 111) Lower whisker limit = 40 - 1.5*(50-40) = 25 Upper whisker limit = 65 Any observations less than 25 or greater than 65 are outliers. Score: 1/ 18. A certain sample, which has a roughly symmetric and bell shaped distribution, has a mean of 20 and standard deviation of 5. An observation with value of 36 is then considered an outlier. Student Response Value Correct Answer True 100% True

General Feedback: Ch3-11. What are the empirical rules of the standard deviation? (p.

Since the distribution is roughly symmetric, the empirical rules can be applied. Mean +/- 3 * standard deviation contains about 99.7% of NORMAL data. Therefore, observations less than the lower limit or those greater than the upper limit are considered outliers. Upper limit = 20 + 3*5 = 35. Therefore, 36 is an outlier. Score: 1/ 19. Refer to question 18. An observation with value of 40 is considered an outlier. Student Response Value Correct Answer True 100% True General Feedback: Ch3-11. What are the empirical rules of the standard deviation? (p.

40 > Upper limit = 35. Therefore, 40 is an outlier. Score: 1/ 20. Variables Q and R have the correlation of 0.89. When Q is 5, R is 10. If Q = 3, then R is Student Response Value Correct Answer Feedback A. likely to be less than 10

B. likely to be greater than 10 General Feedback: Ch3-14. Can you compute and interpret the correlation? The correlation is positive. Therefore, when one variable decreases (increases), the other also decreases (increases). Since Q decreases from 5 to 3, R is likely to decrease from 10 to a smaller value. Score: 1/ 21. The correlation between X and Y is -0.35. The correlation between X and Z is 0.55. The linear relationship between X and Y is weaker than that between X and Z.

Student Response Value Correct Answer Feedback B. A: the even numbers; B: the numbers greater than 10 C. A: the numbers above 100; B: the numbers less than - 200

D. A: negative numbers; B: odd numbers General Feedback: Ch5-RQ2. What are mutually exclusive events? (p. 208) Mutually exclusive events cannot happen together (or have nothing in common). Score: 1/ 25. If A and B are independent events with P(A) = 0.40, P(B) = 0.50. The probability of A and B happen at the same time is Student Response Value Correct Answer

  1. .2 100% Equals 0.2 (100%) Equals .2 (100%) General Feedback: Ch5-5. Are these two events independent of each other? (p. 212) Answer: Since two events are independent, P(A and B) = P(A) * P(B) = 0.4 * 0.5 = 0. Score: 1/ 26. P(X < 120) = 0.2. Then P(X > 120) = Student Response Value Correct Answer
  2. .8 100% Equals 0.8 (100%) Equals .8 (100%)

General Feedback: Ch5-RQ1. Do you know the rule of complements? (p. 208) Answer: The event (X > 20) is the complement of (X < 20). Therefore, P(X >

  1. = 1 - P(X < 20) = 0. Score: 1/ 27. The number of electrical outages in a city varies from day to day. Assume that the number of electrical outages a day (x) in the city has the following probability distribution. X P(X) 0 0. 1 0. 2 0. 3 0. The mean number of electrical outages is Student Response Value Correct Answer
  1. 1.5 0% Equals .26 (100%) Equals 0.26 (100%) General Feedback: Ch5-RQ14. Can you calculate of the mean and the standard deviation (and variance) of a discrete random variable? (p. 216-217) Answer: Mean = 0.8 + 1.15 + 2.04 + 3.01 =. Score: 0/ 28. Refer to question 27. The probability that electrical outages happens more than once a day is Student Response Value Correct Answer
  2. .05 100% Equals 0.05 (100%) Equals .05 (100%) General Feedback: Answer: P(X > 1) = P(X = 2 or X = 3) = P(X=2) + P(X=3) = 0.04 + 0.01 = 0. Score: 1/ 29. Four percent (4%) of the customers of a mortgage company default on their

Student Response Value Correct Answer Equals 0.19 (100%) General Feedback: @Answer:
Method 1: = P(X = 2, 3, 4, 5) = P(X=2) + P(X=3) + P(X=4) + P(X=5) = .19
Method 2: = P(X <=5) - P(X<=1) = binomdist(5,20,.4, 1)- binomdist(1,20,.4, 1) =. Score: 2/ 33-37 Data Analysis 33. Answer the following questions based on this dataset (Click the link to download the dataset. Remember to save the file first.). Median salary is Student Response Value Correct Answer

  1. 68200 100% Equals 68200 (100%) Score: 2/ 34. Refer to the dataset in question 33. The 75th percentile is Student Response Value Correct Answer
  2. 86900 100% Equals 86900 (100%) Score: 2/ 35. Refer to the dataset in question 33. Five percent of people in the dataset make $1.----- or more. Student Response Value Correct Answer
  3. 128200 100% Equals 128200 (100%) Score: 2/ 36. Refer to the dataset in question 33. The correlation between Prior experience and Annual Salary is Student Response Value Correct Answer
  4. .662 0% Equals .66 (100%)

Score: 0/ New score: 2/2 This score has been adjusted by the grader. 37. Refer to the dataset in question 33. The difference between average salaries of male and female employees is $1.-----. Student Response Value Correct Answer

  1. 12874.62 100% Equals 12874.62 (100%) Equals -12874.62 (100%) Score: 2/