QNT 561 Final Exam New

1) The mean and the variance are equal in« 

2) The difference between the sample mean and the population mean is called the« 

3) A dummy variable or indicator variable« 

4) A Type I error is« 

5) Which of the following measures of central location is affected most by extreme values? 

6) A correlation matrix« 

7) In a set of observations, which measure of central tendency reports the value that occurs most often?

8) Which level of measurement is required for the median? 

9) Which level of measurement is required for the mode? 

10) The weighted mean is a special case of what? 

11) We use the general rule of multiplication to combine« 

12) 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 personselected is anelectrician, what is the probability that the person is amaster?

13) Suppose a population consisted of 20 items. How many different samples of n = 3 are possible?

14) In the 1936 Presidential Election Franklin D. Roosevelt defeatedAlfred E. Landon in a landslide vote. A Landon victory had beenpredicted by the Literary Digest, a magazine that ran the oldest,largest, and most widely publicized of the polls at the time. TheDigest’s final prediction was based on 10 million sample ballots mailedto prospective voters, and 2.3 million were returned. The sample ofvoters was drawn from lists of automobile and telephone owners. Despitethe massive size of this sample, it failed to predict a Rooseveltvictory, being off the mark by 19 percentage points. The Digest waswrong because« 

15) A discrete variable« 

16) In a study on the effect of reinforcement on learning from acompany online training program, two experimental treatments areplanned: reinforcement given after every learning module, orreinforcement given after every two learning modules. Reinforcement isaccomplished with the addition of more examples. Which one of thefollowing control groups would serve best in this study? 

17) Which of the following is a correct statement about a probability? 

18) The central limit theorem is important to market researchersbecause 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.

19) To find confidence intervals for the mean of a normaldistribution, the t distribution is usually used in practicalapplications instead of the standard normal distribution because«

20) In a two-sample test of means for independent samples, we use the z distribution when«

21) The special rule of addition is used to combine« 

22) A sample of 5 companies were examined for changes in theirrelative market share. The results showed the following increases anddecreases: ±5, 10, 10, 5, ±10.

23) A nominal scale variable« 

24) Bob is interested in opening a candy store in his town. Hebelieves that his customers will spend an average of $75 or more inannual purchases (the alternative hypothesis). Bob hires a consultant to test this belief. The consultant tested this conjecture on a sample of100 customers and found the p-value for the test statistic satisfied p> .25, then«

25) The ratio scale of measurement« 

26) In the world of market research, the use of a questionnaire often plays a vital role in gaining useful business intelligence because«

27) Which of the following is a requirement for a two-sample test of proportions? 

28) The multiple standard error of estimate is« 

29) A carefully designed business experiment has just been concluded. Unfortunately, use of alpha = .05 indicated no significant differencesamong four treatments. What useful information can you supply futureinvestigators when you report on this experiment?

30) We wish to develop a confidence interval for the population mean. The population follows the normal distribution, the standard deviationof the population is 3, and we have a sample of 10 observations. Wedecide to use the 90% level of confidence. The appropriate value of torepresent the level of confidence is.

 
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