1. QNT 561 Final Exam
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1) Which of the following measures of central location is affected most by extreme
values?
2) Which level of measurement is required for the median?
3) Which level of measurement is required for the mode?
4) In a set of observations, which measure of central tendency reports the value that
occurs most often?
5) The weighted mean is a special case of what?
6) 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.
7) The difference between the sample mean and the population mean is called the
8) A local trade union consists of plumbers and electricians. Classified according to
rank:
Apprentice Journeyman Master Total
Plumbers 25 20 30 75
Electricians 15 40 20 75
40 60 50
A 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?
9) Suppose a population consisted of 20 items. How many different samples of are
possible?
10) The mean and the variance are equal in
11) 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

2. 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 Digest was wrong because
12) 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?
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.
14) 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 because
15) 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 is
16) Which of the following is a correct statement about a probability?
17) The special rule of addition is used to combine
18) We use the general rule of multiplication to combine
19) A discrete variable
20) A nominal scale variable
21) The ratio scale of measurement
22) In the world of market research, the use of a questionnaire often plays a vital
role in gaining useful business intelligence because
23) A Type I error is
24) In a two-sample test of means for independent samples, we use the z
distribution when
25) Which of the following is a requirement for a two-sample test of proportions?

3. 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, then
27) A carefully designed business experiment has just been concluded.
Unfortunately, use of indicated no significant differences among four treatments.
What useful information can you supply future investigators when you report on this
experiment?
28) A correlation matrix
29) The multiple standard error of estimate is
30) A dummy variable or indicator variable
QNT 561 Final Exam
PLEASE DOWNLOAD THE ANSWERS HERE!!!