1. In the construction of decision trees, which of the following s.docx

1. In the construction of decision trees, which of the following
shapes represents a state of nature node? (Points : 1)
square
circle
diamond
triangle
Question 2.2. In the construction of decision trees, which of the
following shapes represents a decision node? (Points : 1)
square
circle
diamond
triangle
Question 3.3. A market research study is being conducted to
determine if a product modification will be well received by the
public. A total of 1,000 consumers are questioned regarding
this product.
The table below provides information regarding this sample.
Positive
Reaction
Neutral
Reaction
Negative
Reaction
Male
240
60
100
Female

260
220
120
What is the probability that a randomly selected person would
be a female who had a positive reaction? (Points : 1)
0.250
0.260
0.455
0.840
Question 4.4. The probability that a typical tomato seed will
germinate is 60%. A seed company has developed a hybrid
tomato that they claim has an 85% probability of germination. If
a gardener plants the new hybrid tomato in batches of 12, what
is the probability that 10 or more seeds will germinate in a
batch? (Points : 1)
0.064
0.083
0.264
0.736 <-- Not sure
Question 5.5. Historical data indicates that only 20% of cable
customers are willing to switch companies. If a binomial
process is assumed, then in a sample of 20 cable customers,
what is the probability that no more than 3 customers would be
willing to switch their cable? (Points : 1)
0.85
0.15
0.20
0.411
Question 6.6. Lock combinations are made using 3 digits
followed by 2 letters. How many different lock combinations

can be made if repetition of digits is allowed? (Points : 1)
6
260
6,760
676,000
Question 7.7. In 2012 the stock market took some big swings up
and down. One thousand investors were asked how often they
tracked their investments. The table below shows their
responses. What is the probability that an investor tracks the
portfolio weekly?
How often tracked?
Response
Daily
235
Weekly
278
Monthly
292
Few times a year
136
Do not track
59
(Points : 1)
0.235
0.278
0.513
0.722
Question 8.8. In hypothesis testing, the null and the alternative

hypotheses are ________. (Points : 1)
not mutually exclusive
mutually exclusive
always false
always true
Question 9.9. If we fail to reject the null hypothesis, ________.
(Points : 1)
we have found evidence to support the alternative
hypothesis
the null hypothesis is proved to be true
we have only failed to find evidence to support the
alternative hypothesis
the hypothesis test is inconclusive
Question 10.10. The probability of a Type I error can be
specified by the investigator. The probability of a Type II error
is ________. (Points : 1)
one minus the probability of Type I error
the result of the hypothesis test itself
also specified by the investigator
not specified by the investigator but computed using the
power of the test
Question 11.11. A major consumer products company wants to
measure the type and quantity of laundry detergent used by
consumers. After choosing a suburban street at random,
employees go door-to-door to every fifth house to ask for
permission to view their laundry detergent supply. What
sampling method is being used for this sampling plan? (Points :
1)
simple random sampling
systematic sampling

continuous sampling
subjective sampling
measure the quality of the packaging of their products on the
store shelves. Five large cities are chosen in different parts of
the country. What sampling method is being used for this
sampling plan? (Points : 1)
continuous sampling
subjective sampling
stratified sampling
Question 13.13. All of the following are true about the sampling
distribution of the mean except
________. (Points : 1)
the population standard deviation can be determined when
a large sample size is used
the standard deviation of this distribution is called the
standard error of the mean
when larger sample sizes are used for this distribution, the
sampling error is less
this distribution approaches the normal distribution if the
sample size is large enough
Question 14.14. Find the standard error of the mean when the
population standard deviation is 4.1 and a sample of size 30 is
taken. (Points : 1)
7.32
0.08
1.34
0.75

Question 15.15. Expected monetary value (EMV) is (Points : 1)
the average or expected monetary outcome of a decision if
it can be repeated a large number of times.
the average or expected value of the decision, if you know
what would happen ahead of time.
the average or expected value of information if it were
completely accurate.
the amount you would lose by not picking the best
alternative.
Question 16.16. Which of the following is true about the
expected value of perfect information? (Points : 1)
It is the amount you would pay for any sample study.
It is calculated as EMV minus EOL.
It is calculated as expected value with perfect information
minus maximum EMV.
It is the amount charged for marketing research.
Question 17.17. The expected value of sample information
(EVSI) can be used to (Points : 1)
establish a maximum amount to spend on additional
information.
calculate conditional probabilities.
establish risk avoidance.
provide points on a utility curve.
Question 18.18. When conducting a test of hypothesis, if we
elect to use alpha (α) of .05 and the results of our analysis
indicate that the null hypothesis should be rejected, which of
the following is true? (Points : 1)
the p-value is greater than .05
the p-value is less than .05 <-- I think?

the p-value is greater than +1.96
the p-value is less than -1.96
1. A distribution that is relatively peaked with a low degree of
dispersion has a coefficient of kurtosis that is ________. (Points
: 2)
equal to 0
less than 0
more than 3
equal to 3
Question 2.2. The population mean is represented by ________.
(Points : 2)
α
μ
λ
π
Question 3.3. If the distribution of observations were perfectly
symmetrical and unimodal, ________. (Points : 2)
the mean would be greater than the mode
the mean, median, and mode would be the same
the mode would be lesser than the median
the median would be greater than the mean
Question 4.4. Outcomes such as absenteeism, turnover, safety,
training effectiveness, and leadership development would be
considered ________ outcomes. (Points : 2)
customer-focused
workforce-focused
financial and market
leadership and governance

Question 5.5. When a histogram is negatively skewed, it
________. (Points : 2)
is symmetrical
tails off to the left
has a slope lesser than one
tails off to the right
Question 6.6. Which of the following terms is interchangeable
with quantitative analysis? (Points : 2)
management science
economics
financial analysis
statistics
Question 7.7. ________ is the quartile representing the
50th percentile. (Points : 2)
Q1
Q2
Q3
Q4
Question 8.8. All of the following are examples of measures of
central tendency except
________. (Points : 2)
mean
median
standard deviation
mode
Question 9.9. A consulting firm has received 2 Super Bowl

playoff tickets from one of its clients. To be fair, the firm is
randomly selecting two different employee names to "win" the
tickets. There are 6 secretaries, 5 consultants and 4 partners in
the firm. Which of the following statements is nottrue? (Points :
2)
The probability of a secretary winning a ticket on the first
draw is 6/15.
The probability of a secretary winning a ticket on the
second draw given that a consultant won a ticket on the first
draw is 6/15.
The probability of a consultant winning a ticket on the first
draw is 1/3.
The probability of a partner winning a ticket on the second
draw given that a secretary won a ticket on the first draw is
4/14.
Question 10.10. The time required to complete a project is
normally distributed with a mean of 80 weeks and a standard
deviation of 10 weeks. The construction company must pay a
penalty if the project is not finished by the due date in the
contract. If a construction company bidding on this contract
puts in a due date of 80 weeks, what is the probability that they
will have to pay a penalty? (Points : 2)
0
1.000
0.500
1/8
Question 11.11. If P(A) = 0.3, P(B) = 0.2, P(A
and B) = 0.0 , what can be said about events A and B? (Points :
2)
They are independent.
They are mutually exclusive.
They are posterior probabilities.

None of the above
Question 12.12. A company’s Board of Trustees had 18
members. Three members serve as the Board’s Executive
Committee of Chair, Vice-Chair, and Secretary. Each member of
the Board of Trustees is equally likely to serve any of the
positions on the Executive Committee. How many ways can the
three positions be filled? (Points : 2)
54
540
2,816
4,896
Question 13.13. At a university with 1,000 business majors,
there are 200 business students enrolled in an introductory
statistics course. Of these 200 students, 50 are also enrolled in
an introductory accounting course. There are an additional 250
business students enrolled in accounting but not enrolled in
statistics. If a business student is selected at random, what is
the probability that the student is enrolled in statistics? (Points :
2)
0.05
0.20
0.25
0.30
Question 14.14. Suppose that, historically, April has
experienced rain and a temperature between 35 and 50 degrees
on 20 days. Also, historically, the month of April has had a
temperature between 35 and 50 degrees on 25 days. You have
scheduled a golf tournament for April 12. If the temperature is
between 35 and 50 degrees on that day, what will be the
probability that the players will get wet? (Points : 2)

0.333
0.667
0.800
1.000
statistics course. Of these 200, 50 are also enrolled in an
introductory accounting course. There are an additional 250
the probability that the student is not enrolled in statistics?
(Points : 2)
0.05
0.20
0.25
0.80
statistics course. Of these 200 students, 50 are also enrolled in
an introductory accounting course. There are an additional 250
the probability that the student is enrolled in accounting?
(Points : 2)
0.20
0.25
0.30
0.50
Question 17.17. A sample of twenty boxes of breakfast cereal
delivers a mean weight of 14.9 ounces with a sample standard

deviation of 0.3 ounces. Since the label weight of these boxes is
15 ounces, the quality assurance department wants to determine
if there is a true weight problem, so they determine the
confidence interval at 95% confidence to be ________. (Points :
2)
14.77 - 15.03 ounces
14.70 - 15.10 ounces
14.87 - 14.93 ounces
14.6 - 15.2 ounces
Question 18.18. An estimator is said to be unbiased if
________. (Points : 2)
its expected value equals the population parameter
it is greater than one
it is estimated from a relatively small sample
it is equal to or lesser than zero
Question 19.19. Which of the following is a subjective sampling
method? (Points : 2)
cluster sampling
judgment sampling
systematic sampling
stratified sampling
Question 20.20. Confidence interval estimates of a population
parameter ________. (Points : 2)
provide a range of values within which the true value of the
parameter is believed to be
specify a value that accurately predicts the population
parameter
eliminates the effect of sampling error
are used solely to estimate the value of population variance

Question 21.21. The t-distribution is very much like the
standard normal distribution except that the t-distribution
________. (Points : 2)
has a smaller variance
has a smaller standard deviation
is bi-symmetrical
has a larger variance
Question 22.22. As the level of confidence decreases,
________. (Points : 2)
the confidence interval becomes wider
the confidence interval is unchanged
the confidence interval becomes irrelevant
the confidence interval becomes more narrow
Question 23.23. Confidence intervals should be used with
caution with time-series data because ________. (Points : 2)
it's difficult to keep track of the time for each sample
measuring the variance of time-series data is not possible
the mean and/or variance of time-series data are not
stationary
it's difficult to measure the mean and/or variance of time-
series data
Question 24.24. Peak Previously Played Picks buys and sells
used sports equipment. For the past year, the mean purchase of
used sports equipment was $36 with a standard deviation of $8.
Using the Microsoft Excel function NORM.DIST, find the
probability that the next person who comes in to buy used
equipment will pay more than $40. (Points : 2)
30.85%
69.15%

24.20%
95.60%
Question 25.25. If the confidence coefficient is 0.9, ________.
(Points : 2)
we expect that 9 samples out of 100 will support the null
hypothesis
we expect that 90 out of 100 samples will support the null
hypothesis
we expect that 10 samples out of 100 will support the null
hypothesis
we expect that all 100 samples will support the null
hypothesis
Question 26.26. Another term for p-value is ________. (Points :
2)
degrees of freedom
random effect
probability density function
observed significance level
Question 27.27. If the null hypothesis is false, it is more likely
that the test statistic will ________. (Points : 2)
fall into the nonrejection region
not follow the uniform distribution
fall into the rejection region
not follow the normal distribution
Question 28.28. The null hypothesis ________. (Points : 2)
describes an existing theory or belief that is accepted as
correct in the presence of contradictory data
describes an existing theory or belief that is accepted as

correct in the absence of contradictory data
is based on new information provided by sample data
is based on new information provided by population data
Question 29.29. In most practical applications, the population
standard deviation will not be known but it is estimated from
the ________. (Points : 2)
population
sample
test statistic
t-distribution
Question 30.30. The power of the test has a value of ________.
(Points : 2)
1 - a
1 + ß
1 - ß
a - ß
Question 31.31. The power of the test depends on ________.
(Points : 2)
the true value of the population mean
the level of confidence used
the sample size
all of the above
Question 32.32. Use the below information to answer the
following five questions.
A company wishes to test whether the proportion of female
managers is the same as the proportion of male managers. The
following table provides data for a sample of employees.

Females
Males
Number of managers
18
23
Sample size
45
75
Compute the 99% confidence interval estimate of the difference
between the two proportions. [Hint: Use PHStat] (Points : 2)
(0.139, -0.326)
(0.084, -0.270)
(-0.084, 0.270)
(-0.139, 0.326)
Question 33.33. In the construction of decision trees, which of
the following shapes represents a state of nature node? (Points :
2)
square
circle
diamond
triangle
Question 34.34. In the construction of decision trees, which of
the following shapes represents a decision node? (Points : 2)
square
circle
diamond
triangle

public. A total of 1,000 consumers are questioned regarding this
product.
Positive
Reaction
Neutral
Reaction
Negative
Reaction
Male
240
60
100
Female
260
220
120
0.250
0.260
0.455
0.840
batch? (Points : 2)
0.064
0.083
0.264

0.736
0.85
0.15
0.20
0.411
6
260
6,760
676,000
Question 39.39. In 2012 the stock market took some big swings
up and down. One thousand investors were asked how often
they tracked their investments. The table below shows their
portfolio weekly?
How often tracked?
Response
Daily
235
Weekly
278
Monthly
292

Few times a year
136
Do not track
59
(Points : 2)
0.235
0.278
0.513
0.722
Question 40.40. In hypothesis testing, the null and the
alternative hypotheses are ________. (Points : 2)
mutually exclusive
always false
always true
Question 41.41. If we fail to reject the null hypothesis,
________. (Points : 2)
hypothesis
is ________. (Points : 2)

power of the test
2)
systematic sampling
continuous sampling
subjective sampling
continuous sampling
subjective sampling
stratified sampling
distribution of the mean except ________. (Points : 2)

taken. (Points : 2)
7.32
0.08
1.34
0.75
alternative.
minus maximum EMV.
information.

elect to use alpha (a) of .05 and the results of our analysis
the p-value is less than .05
Time Remaining:
1.
Question :
A histogram with only one peak ________.
Student Answer:
does not have a mode value
is unimodal
is bimodal

has a high degree of kurtosis
Points Received:
1 of 1
Comments:
Question 2.
Question :
________ is the quartile representing the 75th percentile.
Student Answer:
Q1
Q2
Q3
Q4

Points Received:
1 of 1
Comments:
Question 3.
Question :
A(n) ________ is a representation of reality or a real-life
situation.
Student Answer:
objective
model
analysis
algorithm
Points Received:
1 of 1

Comments:
Question 4.
Question :
Numerical values associated with a metric are called ________.
Student Answer:
data
measures
population
regressors
Points Received:
1 of 1
Comments:

Question 5.
Question :
Which of the following functions is used to find the largest
value in a range of cells using Microsoft Excel?
Student Answer:
MAX(range)
MIN(range)
SUM(range)
AVERAGE(range)
Points Received:
1 of 1
Comments:
Question 6.
Question :
When a histogram is negatively skewed, it ________.

Student Answer:
is symmetrical
tails off to the left
has a slope lesser than one
tails off to the right
Points Received:
1 of 1
Comments:
Question 7.
Question :
The correlation coefficient is a number between ________.
Student Answer:
0 and +1

-1 and 0
-1 and +1
-2 and +2
Points Received:
0 of 1
Comments:
Question 8.
Question :
Outcomes such as customer satisfaction and dissatisfaction,
complaints and complaint resolution, and customer perceived
value would be considered ________ outcomes.
Student Answer:
customer-focused

workforce-focused
product and process
Points Received:
1 of 1
Comments:
Question 9.
Question :
Salary would be an example of ________ data.
Student Answer:
nominal
ordinal
interval

ratio
Points Received:
1 of 1
Comments:
Question 10.
Question :
What does a positive correlation coefficient indicate?
Student Answer:
When one variable increases, the other variable decreases.
When one variable increases, the other variable also increases.
When one variable decreases, the other variable remains
constant.
Both the variables are not linearly related.

Points Received:
1 of 1
Comments:
Question 11.
Question :
When more of the mass of the data is concentrated on one side
and the distribution of values tails off to the other side, the
histogram is said to be ________.
Student Answer:
symmetric
skewed
curved
positively sloped

Points Received:
1 of 1
Comments:
Question 12.
Question :
A measurable quantity that may vary, or is subject to change,
and can be controlled is known as a(n)
Student Answer:
decision variable.
algorithm.
parameter.
solution.
Points Received:
1 of 1
Comments:

Question 13.
Question :
Which of the following is true of ordinal data?
Student Answer:
Ordinal data have no fixed units of measurement.
Ordinal data can be interpreted in the form of ratios.
Ordinal data allows meaningful comparison of ranges,
averages, and other statistics.
Ordinal data is the strongest form of measurement.
Points Received:
1 of 1
Comments:

Question 14.
Question :
A metric that is derived from counting something is called a(n)
________ metric.
Student Answer:
continuous
nominal
discrete
ordinal
Points Received:
1 of 1
Comments:
Question 15.
Question :
Which of the following functions is used to find the smallest
value in a range of cells using Microsoft Excel?

Student Answer:
MAX(range)
MIN(range)
SUM(range)
AVERAGE(range)
Points Received:
1 of 1
Comments:
Question 16.
Question :
Outcomes such as absenteeism, turnover, safety, training
effectiveness, and leadership development would be considered
________ outcomes.
Student Answer:

customer-focused
workforce-focused
financial and market
Points Received:
1 of 1
Comments:
Question 17.
Question :
In Microsoft Excel, the function that looks up a value in a table
is ________.
Student Answer:
AVERAGE(condition 1, condition 2 . . .)

IF(condition, value if true, value if false)
VLOOKUP(value, table range, column number)
COUNTIF(range, criteria)
Points Received:
1 of 1
Comments:
Question 18.
Question :
A distribution that is relatively flat with a wide degree of
dispersion has a coefficient of kurtosis that is ________.
Student Answer:
more than 3
less than 3

less than 6
more than 6
Points Received:
1 of 1
Comments:
Question 19.
Question :
All of the following are examples of measures of central
tendencyexcept
________.
Student Answer:
mean
median
standard deviation

mode
Points Received:
1 of 1
Comments:
Question 20.
Question :
A table that shows the number of observations in each of
several nonoverlapping groups is called a ________.
Student Answer:
frequency distribution
scatter plot
histogram
chart

Points Received:
1 of 1
Comments:
1.
Question :
The number of phone calls coming into a switchboard in the
next five minutes will either be 0, 1, or 2. The probabilities are
the same for each of these (1/3). If X is the number of calls
arriving in a five-minute time period, what is the mean of X?
Student Answer:
1/3
2/3
1
4/3

Points Received:
1 of 1
Comments:
Question 2.
Question :
At a university with 1,000 business majors, there are 200
business students enrolled in an introductory statistics course.
Of these 200 students, 50 are also enrolled in an introductory
accounting course. There are an additional 250 business
students enrolled in accounting but not enrolled in statistics. If
a business student is selected at random, what is the probability
that the student is enrolled in accounting?
Student Answer:
0.20
0.25
0.30
0.50

Points Received:
1 of 1
Comments:
Question 3.
Question :
Properties of the normal distribution include
Student Answer:
a continuous bell-shaped distribution.
a discrete probability distribution.
the number of trials is known and is either 1, 2, 3, 4, 5, etc.
the random variable can assume only a finite or limited set of
values.
Points Received:
1 of 1

Comments:
Question 4.
Question :
Of these 200, 50 are also enrolled in an introductory accounting
course. There are an additional 250 business students enrolled
in accounting but not enrolled in statistics. If a business
student is selected at random, what is the probability that the
student is enrolled in neither accounting nor statistics?
Student Answer:
0.45
0.50
0.55
0.05
Points Received:

0 of 1
Comments:
Question 5.
Question :
The number of cell phone minutes used by high school seniors
follows a normal distribution with a mean of 500 and a standard
deviation of 50. What is the probability that a student uses
more than 350 minutes?
Student Answer:
0.001
0.999
0.618
0.382
Points Received:
1 of 1

Comments:
Question 6.
Question :
A conditional probability P(B|A) is equal to its marginal
probability P(B) if
Student Answer:
it is a joint probability.
statistical dependence exists.
statistical independence exists.
the events are mutually exclusive.
Points Received:
1 of 1
Comments:

Question 7.
Question :
If two events are mutually exclusive, then
Student Answer:
their probabilities can be added.
the joint probability is equal to 0.
if one occurs, the other cannot occur.
All of the above
Points Received:
1 of 1
Comments:
Question 8.
Question :
The expected value of a probability distribution is

Student Answer:
the measure of the spread of the distribution.
the variance of the distribution.
the average value of the distribution.
the probability density function.
Points Received:
0 of 1
Comments:
Question 9.
Question :
that the student is either enrolled in accounting or statistics, but

not both?
Student Answer:
0.45
0.50
0.40
0.05
Points Received:
0 of 1
Comments:
Question 10.
Question :
The time required to travel downtown at 10 a.m. on Monday
morning is known to be normally distributed with a mean of 40
minutes and a standard deviation of 5 minutes. What is the
probability that it will take less than 35 minutes?

Student Answer:
0.84134
0.15866
0.53983
0.46017
Points Received:
1 of 1
Comments:
Question 11.
Question :
When does P(A|B) = P(A)?
Student Answer:
when A and B are mutually exclusive

when A and B are statistically independent
when A and B are statistically dependent
when A and B are collectively exhaustive
Points Received:
1 of 1
Comments:
Question 12.
Question :
Suppose that 10 golfers enter a tournament and that their
respective skill levels are approximately the same. Six of the
entrants are female and two of those are older than 40 years
old. Three of the men are older than 40 years old. What is the
probability that the winner will be either female or older than
40 years old?
Student Answer:
0.000

0.198
0.200
0.900
Points Received:
1 of 1
Comments:
Question 13.
Question :
A consulting firm has received 2 Super Bowl playoff tickets
from one of its clients. To be fair, the firm is randomly
selecting two different employee names to "win" the tickets.
There are 6 secretaries, 5 consultants and 4 partners in the firm.
Which of the following statements is not true?
Student Answer:
The probability of a secretary winning a ticket on the first draw
is 6/15.

The probability of a secretary winning a ticket on the second
draw given that a consultant won a ticket on the first draw is
6/15.
The probability of a consultant winning a ticket on the first
draw is 1/3.
The probability of a partner winning a ticket on the second
draw given that a secretary won a ticket on the first draw is
4/14.
Points Received:
1 of 1
Comments:
Question 14.
Question :
The time required to travel downtown at 10 a.m. on Monday
morning is known to be normally distributed with a mean of 40
minutes and a standard deviation of 5 minutes. What is the
probability that it will take less than 40 minutes?
Student Answer:

0.50
0.20
0.80
1.00
Points Received:
1 of 1
Comments:
Question 15.
Question :
Which of the following is not true about continuous random
variables?
Student Answer:
They have an infinite set of values.

The area under each of the curves represents probabilities.
The entire area under each of the curves equals 1.
They can only be integer values.
Points Received:
1 of 1
Comments:
Question 16.
Question :
A company’s Board of Trustees had 18 members. Three
members serve as the Board’s Executive Committee of Chair,
Vice-Chair, and Secretary. Each member of the Board of
Trustees is equally likely to serve any of the positions on the
Executive Committee. How many ways can the three positions
be filled?
Student Answer:
54

540
2,816
4,896
Points Received:
1 of 1
Comments:
Question 17.
Question :
If P(A) = 0.3, P(B) = 0.2, P(A
and B) = 0.0 , what can be said about events A and B?
Student Answer:
They are independent.
They are mutually exclusive.

They are posterior probabilities.
None of the above
Points Received:
1 of 1
Comments:
Question 18.
Question :
Colonel Motors (an automobile company) has prepared a
marketing campaign for its best-selling car. The focus of the
campaign is quality, and it is claimed that 97 % of the
purchasers of this car have no complaints in the first year. You
and your sister Kim have each purchased one of these cars.
What is the probability that exactly one of you has a complaint
about the car in the first year if the advertising claim is true?
Student Answer:
0.0301
0.0582

0.9730
1.0000
Points Received:
1 of 1
Comments:
Question 19.
Question :
The time required to complete a project is normally distributed
with a mean of 80 weeks and a standard deviation of 10 weeks.
The construction company must pay a penalty if the project is
not finished by the due date in the contract. If a construction
company bidding on this contract puts in a due date of 80
weeks, what is the probability that they will have to pay a
penalty?
Student Answer:
0
1.000

0.500
1/8
Points Received:
1 of 1
Comments:
Question 20.
Question :
that the student is enrolled in statistics?
Student Answer:
0.05

0.20
0.25
0.30
Points Received:
1 of 1
Comments:
1.
Question :
Since the central limit theorem states that a normal distribution
of sample means will result from virtually any underlying
distribution, all of the following are true except ________.
Student Answer:
approximately 75% of the sample means will be between ±2
standard errors of μ

Points Received:
0 of 1
Comments:
Question 2.
Question :
The t-distribution is very much like the standard normal
distribution except that the t-distribution ________.
Student Answer:
has a smaller variance
has a smaller standard deviation

is bi-symmetrical
has a larger variance
Points Received:
1 of 1
Comments:
Question 3.
Question :
Find the standard error of the mean when the population
standard deviation is 2.4 and a sample of size 36 is taken.
Student Answer:
4.03
0.6
14.4

0.4
Points Received:
1 of 1
Comments:
Question 4.
Question :
The finite population correction factor (FPC) is found by
________.
Student Answer:

Points Received:
1 of 1
Comments:
Question 5.
Question :
A point estimate ________.
Student Answer:
has a known measurement error
can be found by dividing the population parameter by the
sample size
accurately estimates the population parameter
is a sample-based estimate of a population parameter
Points Received:
1 of 1

Comments:
Question 6.
Question :
In simple random sampling ________.
Student Answer:
every subset has an equal chance of being selected
sampling is taken from the most easily available segments of
the population
every nth item is selected from the population
weights are assigned to each value based on the probability that
it will be included in the sample
.
Points Received:
1 of 1
Comments:

Question 7.
Question :
Peak Previously Played Picks buys and sells used sports
equipment. For the past year, the mean purchase of used sports
equipment was $36 with a standard deviation of $8. Using the
Microsoft Excel function NORM.DIST, find the probability that
the next person who comes in to sell used equipment will be
paid less than $20.
Student Answer:
2.28%
69.15%
100.00%
97.73%
Points Received:
1 of 1
Comments:

Question 8.
Question :
The two most commonly used types of estimates in statistics are
________.
Student Answer:
cluster intervals and standard estimates
unbiased estimator and standard distribution
point estimates and confidence intervals
sampling estimates and central limit interval
Points Received:
1 of 1
Comments:
Question 9.

Question :
A finite population correction factor should be used to adjust
the margin of error when the sample taken is larger than
________ of the entire population.
Student Answer:
10%
1%
5%
50%
Points Received:
1 of 1
Comments:
Question 10.
Question :
The basic difference between subjective and probabilistic
sampling methods is whether ________.

Student Answer:
the data collected are qualitative or quantitative
a random procedure is used or not
a person or object is being sampled
actual measurements are being taken or estimates are being
used
Points Received:
0 of 1
Comments:
Question 11.
Question :
From a sample of 25 items, a sample standard deviation of 4.56
ounces was just measured. What value should be used for the
population standard deviation?

Student Answer:
0.91 ounces
4.56 ounces
none, since the population standard deviation cannot be
estimated
0.18 ounces
Points Received:
0 of 1
Comments:
Question 12.
Question :
A major consumer products company wants to measure the
quality of the packaging of their products on the store shelves.
In a chain grocery store, all of the packages of a 15-ounce Wild
Berry shampoo and all of the packages of a 4-ounce Man-O-
Manly deodorant are sampled. What sampling method is being
used for this sampling plan?

Student Answer:
cluster sampling
continuous sampling
protracted random sampling
Points Received:
0 of 1
Comments:
Question 13.
Question :
Which of the following is a subjective sampling method?
Student Answer:
cluster sampling

judgment sampling
systematic sampling
stratified sampling
Points Received:
1 of 1
Comments:
Question 14.
Question :
Find the standard error of the mean when the population
standard deviation is 160 and a sample of size 16 is taken.
Student Answer:
0.14
40

1.26
10
Points Received:
1 of 1
Comments:
Question 15.
Question :
For a 95% confidence interval for a population mean, there is
________.
Student Answer:
a 95% confidence that the center of the interval is the true
population mean
a 95% probability that the true population mean will fall in that
range of values

a 95% probability that the population mean comes from a
normal distribution
a 95% confidence that the sample mean is the true population
mean
Points Received:
1 of 1
Comments:
Question 16.
Question :
What is the value of the finite population correction factor when
a sample size of 125 was taken from a finite population of 500?
Student Answer:
0.75
1.15
0.87

1.33
Points Received:
1 of 1
Comments:
Question 17.
Question :
A sampling plan ________.
Student Answer:
states the design quality for production managers
describes the characteristics of a population
is used when the product or process is not well understood
describes the approach that will be used to obtain samples from
a population

Points Received:
1 of 1
Comments:
Question 18.
Question :
For a sample size of 172, the degrees of freedom are ________.
Student Answer:
172
171
13.11
173
Points Received:
1 of 1

Comments:
Question 19.
Question :
Cluster sampling ________.
Student Answer:
is used with populations that are naturally divided into subsets
requires difficult sorting of the population data into specific
samples
consists of a census of selected population subgroups
ensures each individual item has an equal chance of selection
Points Received:
0 of 1
Comments:

Question 20.
Question :
Peak Previously Played Picks buys and sells used sports
equipment. For the past year, the mean purchase of used sports
equipment was $36 with a standard deviation of $8. Using the
Microsoft Excel function NORM.DIST, find the probability that
the next person who comes in to buy used equipment will pay
more than $40.
Student Answer:
30.85%
69.15%
24.20%
95.60%
Points Received:
1 of 1
Comments:

1. In the construction of decision trees, which of the following
shapes represents a state of nature node? (Points : 1)
square
circle
diamond
triangle
Question 2.2. In the construction of decision trees, which of the
following shapes represents a decision node? (Points : 1)
square
circle
diamond
triangle
public. A total of 1,000 consumers are questioned regarding
this product.
Positive
Reaction
Neutral
Reaction
Negative
Reaction
Male
240

60
100
Female
260
220
120
0.250
0.260
0.455
0.840
batch? (Points : 1)
0.064
0.083
0.264
0.736
0.85
0.15
0.20
0.411

6
260
6,760
676,000
Question 7.7. In 2012 the stock market took some big swings up
and down. One thousand investors were asked how often they
tracked their investments. The table below shows their
portfolio weekly?
How often tracked?
Response
Daily
235
Weekly
278
Monthly
292
Few times a year
136
Do not track
59
(Points : 1)
0.235
0.278
0.513
0.722

Question 8.8. In hypothesis testing, the null and the alternative
hypotheses are ________. (Points : 1)
mutually exclusive
always false
always true
Question 9.9. If we fail to reject the null hypothesis, ________.
(Points : 1)
hypothesis
is ________. (Points : 1)
power of the test

1)
systematic sampling
continuous sampling
subjective sampling
continuous sampling
subjective sampling
stratified sampling
distribution of the mean except
________. (Points : 1)
taken. (Points : 1)
7.32

0.08
1.34
0.75
alternative.
minus maximum EMV.
information.
elect to use alpha (α) of .05 and the results of our analysis

the p-value is less than .05

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