Qnt 561 Final Exam Study Guide

1912 words - 8 pages

QNT 561 Final Exam – Assignment

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1. A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the 0.10 significance level. For what values of t will the null hypothesis not be rejected?

a) To the left of -1.645 or to the right of 1.645

b) To the left of -1.345 or to the right of 1.345

c) Between -1.761 and 1.761

d) To the left of -1.282 or to the right of 1.282

2. Which of the following is a characteristic of the F distribution?

a) Normally distributed

b) Negatively skewed

c) Equal to the t-distribution

d) ...view middle of the document...

What is the opportunity loss for purchasing nine watermelons when the demand is for seven watermelons?

a) 8

b) 4

c) 12

d) 0

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7. A firm offers routine physical examinations as part of a health service program for its employees. The exams showed that 8% of the employees needed corrective shoes, 15% needed major dental work, and 3% needed both corrective shoes and major dental work. What is the probability that an employee selected at random will need either corrective shoes or major dental work?

a) .25

b) 1.00

c) .50

d) .20

8. When data is collected using a qualitative, nominal variable, what is true about a frequency distribution that summarizes the data?

a) The upper and lower class limits must be calculated.

b) The number of classes is equal to the number of variables plus 2.

c) The “5 to the k rule” can be applied.

d) A pie chart can be used to summarize the data.

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9. If an ANOVA test is conducted and the null hypothesis is rejected, what does this indicate?

a) The p-value is less than a.

b) All population means are different.

c) At least one pair of population means is different.

d) The population means are equal.

10. A random sample of 20 items is selected from a population. When computing a confidence interval for the population mean, what number of degrees of freedom should be used to determine the appropriate t-value?

a) 25

b) 21

c) 19

d) 20

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11. The question, "Should products be withdrawn if even one death is associated with its prescribed use, even if no fault for the tampered product accrues to the manufacturer?" is an example of a(n) _____.

a) strip data mining issue

b) unresearchable question

c) ill-defined problem

d) favored-technique problem

12. A large department store examined a sample of the 18 credit card sales and recorded the amounts charged for each of three types of credit cards: MasterCard, Visa, and Discover. Six MasterCard sales, seven Visa, and five Discover sales were recorded. The store used an ANOVA to test if the mean sales for each credit card were equal. What are the degrees of freedom for the F statistic?

a) 2 in the numerator, 15 in the denominator

b) 6 in the numerator, 15 in the denominator

c) 18 in the numerator, 3 in the denominator

d) 3 in the numerator, 18 in the denominator

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13. A linear trend equation is used to represent time series values when the data are changing by equal what?

a) amounts

b) percents and proportions

c) proportions

d) percents

14. Which of the following goals should a good survey instrument accomplish?

a) Encourage each participant to provide accurate responses

b) Encourage...

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