Qnt 561 Final Exam (2 Sets)

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QNT 561 FINAL EXAM (2 SETS)

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<div title="Page 1"><div><div><p style="text-align: center;"><strong>SET 1</strong></p> 1. A difference between calculating the sample mean and the population mean is</div></div><div><div>A. Only in the symbols, we use instead of μ and n instead of NB. We divide the sum of the observations by n - 1 instead of nC. The observations are ranked and select the middle value for the population mean D. There are no differences2. Which of the following measures of central location is affected most by extreme values?A. MedianB. MeanC. ModeD. Geometric mean3. Which level of measurement is required for the median?A. NominalB. OrdinalC. Interval D. Ratio4. In which of the following distributions is the probability of a success usually small?A. BinomialB. PoissonC. Hyper geometric D. All distribution5. Which of the following is not a requirement of a probability distribution?A. Equally likely probability of a successB. Sum of the possible outcomes is 1.00C. The outcomes are mutually exclusiveD. The probability of each outcome is between 0 and 16. Which of the following is not a requirement of a binomial distribution?A. A constant probability of success B. Only two possible outcomesC. A fixed number of trailsD. Equally likely outcomes7. A sampleA. Is a part of the populationB. Has more than 30 observations C. Is usually identified as ND. All of the above8. The difference between the sample mean and the population mean is called theA. Population mean.B. Population standard deviation</div></div></div><div title="Page 2"><div><div>C. Standard error of the meanD. Sampling error9. Suppose a population consisted of 20 items. How many different sample of n = 3 are possible?A. 6840B. 1140C. 20 D. 12010. A point estimate isA. Always an estimate of the population mean B. Always equal to the population valueC. An estimate of the population parameter D. None of the above11. We wish to develop a confidence interval for the population mean. The population follows the normal distribution, the standard deviation of the population is 3, and we have a sample of 10 observations. We decide to use the 90 percent level of confidence. The appropriate value of to represent the level of confidence isA. z =1.65 B. z = 1.96 C. t = 1.833 D. t = 1.81212. A confidence intervalA. Always includes the population parameterB. Decreases in width as the sample size is increasedC. Cannot include a value of 0 D. None of the above13. The Special Rule of Addition is used to combineA. Independent eventsB. Mutually exclusive eventsC. Events that total more than oneD. Events based on subjective probabilities14. We use the General Rule of Multiplication to combineA. Events that are not independentB. Mutually exclusive eventsC. Events that total more than 1.00D. Events based on subjective probabilities15. An experiment is aA. Collection of eventsB. Collection of outcomes</div></div></div><div title="Page 3"><div><div>C. Always greater than 1D. The act of taking a measurement or the observation of some activity16. Which of the following statements is true regarding a sample?A. It is a part of populationB. It must contain at least five observations C. It refers to descriptive statisticsD. All of the above are correct17. Which of the following statements is true regarding a population?A. It must be a large number of valuesB. It must refer to peopleC. It is a collection individuals, objects, or measurements D. None of the above18. A nominal scale variable isA. Usually the result of counting somethingB. Has a meaningful zero pointC. May assume negative valuesD. Cannot have more than two categories19. In a two-sample test of means for independent samples, the equal sign always appears inA. The null hypothesisB. The alternate hypothesisC. The upper tail of the test statistic D. None of the above20. The alternate hypothesisA. Is accepted if the null hypothesis is rejectedB. Will always contain the equal sign C. Tells the value of the sample mean D. None of the above21. Which of the following is a requirement for a two-sample test of proportions?A. The population standard deviations are equal B. Both populations are positively skewedC. Both samples are at least 30D. n and n(1-) are both greater than 522. In a contingency tableA. The number of rows must be the same as the number of columnsB. A variable is classified according to two criteriaC. There must be at least 10 observations in each cell</div></div></div><div title="Page 4"><div><div>D. All of the above</div></div><div><div>23. To conduct a nonparametric test theA. Population must follow the normal distributionB. The standard deviation must be knownC. It is not necessary to make any assumption about the shape of the population D. The data must be at least interval scale24. In a goodness-of-fit test where the sample size is 200, there are 5 categories, and the significance level is .05. The critical value of X2 isA. 9.488B. 11.070C. 43.773D. None of the above25. A dummy variable or indicator variableA. May assume only a value of 0 or 1B. Is another term for the dependent variable C. Is found by (Y - Y')D. Is equal to Y'26. The multiple standard error of estimate isA. Is based on the (Y - Y')2B.Is negative when one of the net regression coefficients is 0 C. Is found by taking the square root of SSR/SS totalD. All of the above27. A correlation matrixA. Shows all simple coefficients of correlationB. Shows all possible net regression coefficientsC. Shows the correlations that are positive D. Reports the multiple regression equation28) The difference between a random variable and a probability distribution is: A. A random variable does not include the probability of an event.B. A random variable can only assume whole numbers.C. A probability distribution can only assume whole numbers.D. None of the above.29) The mean and the variance are equal inA. The binomial distribution.B. All probability distributions.C. The Poisson distribution.D. The hypergeometric distribution.</div></div></div><div title="Page 5"><div><div>30) Events are independent ifA. The probability of their occurrence is greater than 1.B. By virtue of one event happening another cannot.C. We can count the possible outcomes.D. The probability of one event happening does not affect the probability of another event happening.31) Which of the following is a correct statement about a probability?A. It may assume negative values.B. It cannot be reported to more than 1 decimal place. C. It may range from 0 to 1.D. It may be greater than 1.32) The ratio scale of measurementA. Cannot assume negative values. B. Is usually based on counting.C. Usually involves ranking.D. Has a meaningful zero point.33) In a two-sample test of means for independent samples, we use the z distribution whenA. Both populations have at least 4,000 observations.B. nB and n(1-B) are both greater than 5.C. The population standard deviations are equal.D. Both population standard deviations are known34) Which of the following is not a characteristic of the X2A. It is not negative.B. It approaches a normal distribution as the degrees of freedom increase. C. Its shape is based on the sample size.D. It is positively skewed.35) In a multiple regression equationA. There is only one dependent variable.B. The R2 term must be at least .50.C. All the regression coefficient must be between -1.00 and 1.00. D. None of these</div></div></div>  <p style="text-align: center;"><strong>SET 2</strong></p> 1) Which of the following measures of central location is affected most by extreme values?A. MeanB. MedianC. ModeD. Geometric mean2) Which level of measurement is required for the median?A. NominalB. OrdinalC. IntervalD. Ratio3) Which level of measurement is required for the mode?A. NominalB. OrdinalC. IntervalD. Ratio4) In a set of observations, which measure of central tendency reports the value that occurs most often?A. MeanB. MedianC. ModeD. Geometric mean5) The weighted mean is a special case of what?A. MeanB. MedianC. ModeD. Geometric mean6) A sample of 5 companies were examined for changes in their relative market share. The results showed the following increases and decreases: –5, 10, 10, 5, –10. Select the response which represents the calculated mean of these results.A. 8B. 2C. -2D. 67) The difference between the sample mean and the population mean is called theA. margin of errorB. population standard deviationC. standard error of the meanD. sampling error8) A local trade union consists of plumbers and electricians classified according to rank:Apprentice Journeyman Master TotalPlumbers 25 20 30 75Electricians 15 40 20 7540 60 50A member of the union is selected at random. Given that the person selected is an electrician, what is the probability that the person is a master?A. .053B. .133C. .500D. .2679) Suppose a population consisted of 20 items. How many different samples of n = 3 are possible?A. 6840B. 1140C. 20D. 12010) The mean and the variance are equal inA. the normal distributionB. the binomial distributionC. the Poisson distributionD. the hypergeometric distribution11) In the 1936 Presidential Election Franklin D. Roosevelt defeated Alfred E. Landon in a landslide vote. A Landon victory had been predicted by the Literary Digest, a magazine that ran the oldest, largest, and most widely publicized of the polls at the time. The Digest's final prediction was based on 10 million sample ballots mailed to prospective voters, and 2.3 million were returned. The sample of voters was drawn from lists of automobile and telephone owners. Despite the massive size of this sample, it failed to predict a Roosevelt victory, being off the mark by 19 percentage points. The Literary Digest was wrong becauseA. the sample size, although large, was not large enoughB. the right research questions were not askedC. respondents intentionally lied about their preferred candidateD. the sample used was not representative of the actual population at the time12) In a study on the effect of reinforcement on learning from a company online training program, two experimental treatments are planned: reinforcement given after every learning module, or reinforcement given after every two learning modules. Reinforcement is accomplished with the addition of more examples. Which one of the following control groups would serve best in this study?A. A group that does not read any of the learning modules.B. A group that reads the modules using hardcopy only.C. A group that reads the learning modules, but does not receive reinforcement.D. A group that reads the learning modules with random reinforcement.13) The central limit theorem is important to market researchers because it states that as sample sizes increase, the distribution of the sample ________ collected from consumers on any topic of interest being researched approaches the normal distribution.A. mediansB. meansC. standard deviationsD. variancesQNT 561 Final Exam14) To find confidence intervals for the mean of a normal distribution, the t distribution is usually used in practical applications instead of the standard normal distribution becauseA. the mean of the population is not knownB. the t distribution is more effectiveC. the variance of the population is usually not knownD. the sample size is not known15) We wish to develop a confidence interval for the population mean. The population follows the normal distribution, the standard deviation of the population is 3, and we have a sample of 10 observations. We decide to use the 90% level of confidence. The appropriate value of to represent the level of confidence isA. z=1.65B. z=1.96C. z=1.833D. z=1.81216) Which of the following is a correct statement about a probability?A. It may range from 0 to 1.B. It may assume negative values.C. It may be greater than 1.D. It cannot be reported to more than 1 decimal place.17) The special rule of addition is used to combineA. independent eventsB. mutually exclusive eventsC. events that total more than oneD. events based on subjective probabilities18) We use the general rule of multiplication to combineA. events that are not independentB. mutually exclusive eventsC. events that total more than 1.00D. events based on subjective probabilities19) A discrete variableA. is an example of a qualitative variableB. can assume only whole number valuesC. can assume only certain clearly separated valuesD. cannot be negative20) A nominal scale variableA. usually involves ranking.B. cannot assume negative valuesC. has meaningful zero pointD. is usually based on counting21) The ratio scale of measurementA. usually the result of counting somethingB. has meaningful zero pointC. may assume negative valuesD. cannot have more than two categories22) In the world of market research, the use of a questionnaire often plays a vital role in gaining useful business intelligence becauseA. it is a structured technique to collect secondary dataB. it represents a way to ask anything you want from respondents and receive valid informationC. it does not need to be testedD. it can be used in conjunction with other techniques such as field interviews and focus groups to maximize data input23) A Type I error isA. the correct decisionB. a value determined from the test statisticC. rejecting the null hypothesis when it is trueD. accepting the null hypothesis when it is false24) In a two-sample test of means for independent samples, we use the z distribution whenA. the population standard deviations are equalB. both populations have at least 4,000 observationsC. both population standard deviations are knownD. nB and n(1-B) are both greater than 525) Which of the following is a requirement for a two-sample test of proportions?A. The population standard deviations are equal.B. Both populations are positively skewed.C. Both samples are at least 30.D. nB and n(1-B) are both greater than 5.26) Bob is interested in opening a candy store in his town. He believes that his customers will spend an average of $75 or more in annual purchases (the alternative hypothesis). Bob hires a consultant to test this belief. The consultant tested this conjecture on a sample of 100 customers and found the p-value for the test statistic satisfied p > .25, thenA. you would not reject the null hypothesisB. you would reject the null hypothesis for alpha= .01C. you would reject the null hypothesis for alpha= .05D. you would reject the null hypothesis for alpha= .1027) A carefully designed business experiment has just been concluded. Unfortunately, use of alpha = .05 indicated no significant differences among four treatments. What useful information can you supply future investigators when you report on this experiment?A. The means are different but their variances are the same.B. The estimated variance (and its df) can be useful to future investigators.C. Pair-wise tests can be conducted to show significant differences.D. Significant differences can be reported by changing the type I error rate from .05 to .10, .20, or whatever is needed to declare significance.28) A correlation matrixA. shows all simple coefficients of correlation between variablesB. shows only correlations that are zeroC. shoes the correlations that are positiveD. shows only the correlations that are statistically significant29) The multiple standard error of estimate isA. the measure of variability to the predictionB. negative when one of the net regression coefficients is zeroC. found by calculating SSR/SS totalD. the measure of accuracy of the prediction30) A dummy variable or indicator variableA. may assume only a value of 0 or 1B. is another term for the dependent variableC. is a quantitative variableD. is a variable at a ratio or interval level of measurement   
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<div title="Page 1"><div><div><p style="text-align: center;"><strong>SET 1</strong></p> 1. A difference between calculating the sample mean and the population mean is</div></div><div><div>A. Only in the symbols, we use instead of μ and n instead of NB. We divide the sum of the observations by n - 1 instead of nC. The observations are ranked and select the middle value for the population mean D. There are no differences2. Which of the following measures of central location is affected most by extreme values?A. MedianB. MeanC. ModeD. Geometric mean3. Which level of measurement is required for the median?A. NominalB. OrdinalC. Interval D. Ratio4. In which of the following distributions is the probability of a success usually small?A. BinomialB. PoissonC. Hyper geometric D. All distribution5. Which of the following is not a requirement of a probability distribution?A. Equally likely probability of a successB. Sum of the possible outcomes is 1.00C. The outcomes are mutually exclusiveD. The probability of each outcome is between 0 and 16. Which of the following is not a requirement of a binomial distribution?A. A constant probability of success B. Only two possible outcomesC. A fixed number of trailsD. Equally likely outcomes7. A sampleA. Is a part of the populationB. Has more than 30 observations C. Is usually identified as ND. All of the above8. The difference between the sample mean and the population mean is called theA. Population mean.B. Population standard deviation</div></div></div><div title="Page 2"><div><div>C. Standard error of the meanD. Sampling error9. Suppose a population consisted of 20 items. How many different sample of n = 3 are possible?A. 6840B. 1140C. 20 D. 12010. A point estimate isA. Always an estimate of the population mean B. Always equal to the population valueC. An estimate of the population parameter D. None of the above11. We wish to develop a confidence interval for the population mean. The population follows the normal distribution, the standard deviation of the population is 3, and we have a sample of 10 observations. We decide to use the 90 percent level of confidence. The appropriate value of to represent the level of confidence isA. z =1.65 B. z = 1.96 C. t = 1.833 D. t = 1.81212. A confidence intervalA. Always includes the population parameterB. Decreases in width as the sample size is increasedC. Cannot include a value of 0 D. None of the above13. The Special Rule of Addition is used to combineA. Independent eventsB. Mutually exclusive eventsC. Events that total more than oneD. Events based on subjective probabilities14. We use the General Rule of Multiplication to combineA. Events that are not independentB. Mutually exclusive eventsC. Events that total more than 1.00D. Events based on subjective probabilities15. An experiment is aA. Collection of eventsB. Collection of outcomes</div></div></div><div title="Page 3"><div><div>C. Always greater than 1D. The act of taking a measurement or the observation of some activity16. Which of the following statements is true regarding a sample?A. It is a part of populationB. It must contain at least five observations C. It refers to descriptive statisticsD. All of the above are correct17. Which of the following statements is true regarding a population?A. It must be a large number of valuesB. It must refer to peopleC. It is a collection individuals, objects, or measurements D. None of the above18. A nominal scale variable isA. Usually the result of counting somethingB. Has a meaningful zero pointC. May assume negative valuesD. Cannot have more than two categories19. In a two-sample test of means for independent samples, the equal sign always appears inA. The null hypothesisB. The alternate hypothesisC. The upper tail of the test statistic D. None of the above20. The alternate hypothesisA. Is accepted if the null hypothesis is rejectedB. Will always contain the equal sign C. Tells the value of the sample mean D. None of the above21. Which of the following is a requirement for a two-sample test of proportions?A. The population standard deviations are equal B. Both populations are positively skewedC. Both samples are at least 30D. n and n(1-) are both greater than 522. In a contingency tableA. The number of rows must be the same as the number of columnsB. A variable is classified according to two criteriaC. There must be at least 10 observations in each cell</div></div></div><div title="Page 4"><div><div>D. All of the above</div></div><div><div>23. To conduct a nonparametric test theA. Population must follow the normal distributionB. The standard deviation must be knownC. It is not necessary to make any assumption about the shape of the population D. The data must be at least interval scale24. In a goodness-of-fit test where the sample size is 200, there are 5 categories, and the significance level is .05. The critical value of X2 isA. 9.488B. 11.070C. 43.773D. None of the above25. A dummy variable or indicator variableA. May assume only a value of 0 or 1B. Is another term for the dependent variable C. Is found by (Y - Y')D. Is equal to Y'26. The multiple standard error of estimate isA. Is based on the (Y - Y')2B.Is negative when one of the net regression coefficients is 0 C. Is found by taking the square root of SSR/SS totalD. All of the above27. A correlation matrixA. Shows all simple coefficients of correlationB. Shows all possible net regression coefficientsC. Shows the correlations that are positive D. Reports the multiple regression equation28) The difference between a random variable and a probability distribution is: A. A random variable does not include the probability of an event.B. A random variable can only assume whole numbers.C. A probability distribution can only assume whole numbers.D. None of the above.29) The mean and the variance are equal inA. The binomial distribution.B. All probability distributions.C. The Poisson distribution.D. The hypergeometric distribution.</div></div></div><div title="Page 5"><div><div>30) Events are independent ifA. The probability of their occurrence is greater than 1.B. By virtue of one event happening another cannot.C. We can count the possible outcomes.D. The probability of one event happening does not affect the probability of another event happening.31) Which of the following is a correct statement about a probability?A. It may assume negative values.B. It cannot be reported to more than 1 decimal place. C. It may range from 0 to 1.D. It may be greater than 1.32) The ratio scale of measurementA. Cannot assume negative values. B. Is usually based on counting.C. Usually involves ranking.D. Has a meaningful zero point.33) In a two-sample test of means for independent samples, we use the z distribution whenA. Both populations have at least 4,000 observations.B. nB and n(1-B) are both greater than 5.C. The population standard deviations are equal.D. Both population standard deviations are known34) Which of the following is not a characteristic of the X2A. It is not negative.B. It approaches a normal distribution as the degrees of freedom increase. C. Its shape is based on the sample size.D. It is positively skewed.35) In a multiple regression equationA. There is only one dependent variable.B. The R2 term must be at least .50.C. All the regression coefficient must be between -1.00 and 1.00. D. None of these</div></div></div>  <p style="text-align: center;"><strong>SET 2</strong></p> 1) Which of the following measures of central location is affected most by extreme values?A. MeanB. MedianC. ModeD. Geometric mean2) Which level of measurement is required for the median?A. NominalB. OrdinalC. IntervalD. Ratio3) Which level of measurement is required for the mode?A. NominalB. OrdinalC. IntervalD. Ratio4) In a set of observations, which measure of central tendency reports the value that occurs most often?A. MeanB. MedianC. ModeD. Geometric mean5) The weighted mean is a special case of what?A. MeanB. MedianC. ModeD. Geometric mean6) A sample of 5 companies were examined for changes in their relative market share. The results showed the following increases and decreases: –5, 10, 10, 5, –10. Select the response which represents the calculated mean of these results.A. 8B. 2C. -2D. 67) The difference between the sample mean and the population mean is called theA. margin of errorB. population standard deviationC. standard error of the meanD. sampling error8) A local trade union consists of plumbers and electricians classified according to rank:Apprentice Journeyman Master TotalPlumbers 25 20 30 75Electricians 15 40 20 7540 60 50A member of the union is selected at random. Given that the person selected is an electrician, what is the probability that the person is a master?A. .053B. .133C. .500D. .2679) Suppose a population consisted of 20 items. How many different samples of n = 3 are possible?A. 6840B. 1140C. 20D. 12010) The mean and the variance are equal inA. the normal distributionB. the binomial distributionC. the Poisson distributionD. the hypergeometric distribution11) In the 1936 Presidential Election Franklin D. Roosevelt defeated Alfred E. Landon in a landslide vote. A Landon victory had been predicted by the Literary Digest, a magazine that ran the oldest, largest, and most widely publicized of the polls at the time. The Digest's final prediction was based on 10 million sample ballots mailed to prospective voters, and 2.3 million were returned. The sample of voters was drawn from lists of automobile and telephone owners. Despite the massive size of this sample, it failed to predict a Roosevelt victory, being off the mark by 19 percentage points. The Literary Digest was wrong becauseA. the sample size, although large, was not large enoughB. the right research questions were not askedC. respondents intentionally lied about their preferred candidateD. the sample used was not representative of the actual population at the time12) In a study on the effect of reinforcement on learning from a company online training program, two experimental treatments are planned: reinforcement given after every learning module, or reinforcement given after every two learning modules. Reinforcement is accomplished with the addition of more examples. Which one of the following control groups would serve best in this study?A. A group that does not read any of the learning modules.B. A group that reads the modules using hardcopy only.C. A group that reads the learning modules, but does not receive reinforcement.D. A group that reads the learning modules with random reinforcement.13) The central limit theorem is important to market researchers because it states that as sample sizes increase, the distribution of the sample ________ collected from consumers on any topic of interest being researched approaches the normal distribution.A. mediansB. meansC. standard deviationsD. variancesQNT 561 Final Exam14) To find confidence intervals for the mean of a normal distribution, the t distribution is usually used in practical applications instead of the standard normal distribution becauseA. the mean of the population is not knownB. the t distribution is more effectiveC. the variance of the population is usually not knownD. the sample size is not known15) We wish to develop a confidence interval for the population mean. The population follows the normal distribution, the standard deviation of the population is 3, and we have a sample of 10 observations. We decide to use the 90% level of confidence. The appropriate value of to represent the level of confidence isA. z=1.65B. z=1.96C. z=1.833D. z=1.81216) Which of the following is a correct statement about a probability?A. It may range from 0 to 1.B. It may assume negative values.C. It may be greater than 1.D. It cannot be reported to more than 1 decimal place.17) The special rule of addition is used to combineA. independent eventsB. mutually exclusive eventsC. events that total more than oneD. events based on subjective probabilities18) We use the general rule of multiplication to combineA. events that are not independentB. mutually exclusive eventsC. events that total more than 1.00D. events based on subjective probabilities19) A discrete variableA. is an example of a qualitative variableB. can assume only whole number valuesC. can assume only certain clearly separated valuesD. cannot be negative20) A nominal scale variableA. usually involves ranking.B. cannot assume negative valuesC. has meaningful zero pointD. is usually based on counting21) The ratio scale of measurementA. usually the result of counting somethingB. has meaningful zero pointC. may assume negative valuesD. cannot have more than two categories22) In the world of market research, the use of a questionnaire often plays a vital role in gaining useful business intelligence becauseA. it is a structured technique to collect secondary dataB. it represents a way to ask anything you want from respondents and receive valid informationC. it does not need to be testedD. it can be used in conjunction with other techniques such as field interviews and focus groups to maximize data input23) A Type I error isA. the correct decisionB. a value determined from the test statisticC. rejecting the null hypothesis when it is trueD. accepting the null hypothesis when it is false24) In a two-sample test of means for independent samples, we use the z distribution whenA. the population standard deviations are equalB. both populations have at least 4,000 observationsC. both population standard deviations are knownD. nB and n(1-B) are both greater than 525) Which of the following is a requirement for a two-sample test of proportions?A. The population standard deviations are equal.B. Both populations are positively skewed.C. Both samples are at least 30.D. nB and n(1-B) are both greater than 5.26) Bob is interested in opening a candy store in his town. He believes that his customers will spend an average of $75 or more in annual purchases (the alternative hypothesis). Bob hires a consultant to test this belief. The consultant tested this conjecture on a sample of 100 customers and found the p-value for the test statistic satisfied p > .25, thenA. you would not reject the null hypothesisB. you would reject the null hypothesis for alpha= .01C. you would reject the null hypothesis for alpha= .05D. you would reject the null hypothesis for alpha= .1027) A carefully designed business experiment has just been concluded. Unfortunately, use of alpha = .05 indicated no significant differences among four treatments. What useful information can you supply future investigators when you report on this experiment?A. The means are different but their variances are the same.B. The estimated variance (and its df) can be useful to future investigators.C. Pair-wise tests can be conducted to show significant differences.D. Significant differences can be reported by changing the type I error rate from .05 to .10, .20, or whatever is needed to declare significance.28) A correlation matrixA. shows all simple coefficients of correlation between variablesB. shows only correlations that are zeroC. shoes the correlations that are positiveD. shows only the correlations that are statistically significant29) The multiple standard error of estimate isA. the measure of variability to the predictionB. negative when one of the net regression coefficients is zeroC. found by calculating SSR/SS totalD. the measure of accuracy of the prediction30) A dummy variable or indicator variableA. may assume only a value of 0 or 1B. is another term for the dependent variableC. is a quantitative variableD. is a variable at a ratio or interval level of measurement   
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