ISDS 361A Practice Exam 1 with Questions and Answers, Exams of Business Economics

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In a questionnaire, respondents are asked to mark their gender as male or female. Gender is an example of a(n) ANSWERV ¥ categorical variable The can be interpreted as the number of standard deviations a data value is from the mean of all the data values. ANSWERV V z-score The assembly time for a product is normally distributed between 6 to 10 minutes. The probability of assembling the product between 7 to 9 minutes is ANSWERV V 0.5 For the standard normal probability distribution, the area to the right of the mean is ANSWERVV 0.5 In inferential statistics, we seek to infer about ANSWERYV ¥ population parameter A company has developed a new computer sound card whose average lifetime is unknown. In order to estimate this average, 200 sound cards are randomly selected from a large production line and tested; their average lifetime is found to be 5 years. The 200 sound cards represent a: ANSWERVV sample In a random sample of 200 items, 5 items were defective. An estimate of the percentage of defective items in the population is ANSWERV V 2.5% Most values of a standard normal distribution lie between ANSWERY ¥ -3 and 13