QNT 561 Final Exam

QNT 561 Final Exam
1) Which of the following measures of centrallocationis
affected most by extreme values?
A. Mean
B. Median
C. Mode
D. Geometric mean
2) A correlation matrix…
A. Shows all
simple coefficients of correlation between variables
B. shows only correlations that are zero
C. shoes the correlations that are positive
D. shows only the correlations that are statistically significant
3) In a set of observations, which measure of central tendency reports thevaluethat
occurs most often?
A. Mean
B. Median
C. Mode
D. Geometric mean
4) Which level of measurement is required for the median?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
5) The mean and the variance are equal in…
A. the normal distribution
B. the binomial distribution
C. the
Poisson distribution
D. the hypergeometric distribution
6) The difference between the sample mean and the population mean is called
the…
A.marginof
error
B. population standard deviation
C. standard error of the mean
D. sampling
error
7) A dummy variable or indicator variable…
A. may assume only a value of 0 or 1
B. is another
term for the dependent variable
C. is a quantitative variable
D. is a variable at a ratio or interval level of measurement
8) A Type I error is…
A. the correct decision
B. a value determined from the test statistic
C. rejecting
the null hypothesis when it is true
D. accepting the null hypothesis when it is false
9) Which level of measurement is required for the mode?
A. Nominal
B. Ordinal
C. Interval
D. Ratio
10) The weighted mean is a special case of what?
A. Mean
B. Median
C. Mode
D. Geometric mean
11) We use the general rule of multiplication to combine…
A. events that are not independent
B. mutually exclusive events
C. events
that total more than 1.00
D. events based on subjective probabilities
12) A localtradeunion
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?
A. .053
B. .133
C. .500
D. .267
13) Suppose a population consisted of 20 items. How many different samples
of n = 3 are possible?
A. 6840
B. 1140
C. 20
D. 120
14) 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 Digest was
wrong because…
A. the sample size, although large, was not large enough
B. the right research questions were not asked
C.
respondents intentionally lied about their preferred candidate
D. the sample used was not representative of the actual population at the time
15) A discrete variable…
A. is an example of a qualitative variable
B. can assume only whole number values
C. can assume only certain clearly separated values
D. cannot be
negative
16) In a study on the effect of reinforcement on 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.
17) 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.
18) 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. medians
B. means
C. standard deviations
D. variances
19) 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…
A. the mean of the population is not known
B. the t distribution is more effective
C. the variance of the population is usually not known
D. the sample
size is not known
20) In a two-sample test of means for independent samples, we use the z
distribution when…
A. the population standard deviations are equal
B. both populations
have at least 4,000 observations
C. both population standard deviations are known
D. nB and n(1-B) are both greater than 5
21) The special rule of addition is used tocombine…
A. independent events
B. mutually
exclusive events
C. events that total more than one
D. events based on subjective probabilities
22) A sample of 5 companies were examined for changes in their relativemarketshare. The
results showed the following increases and decreases: –5, 10, 10, 5, –10.
A. 8
B. 2
C. -2
D. 6
23) A nominal scale variable…
A. usually
involves ranking.
B. cannot assume negative values
C. has meaningful zero point
D. is usually based on counting
24) 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…
A. you would not reject the null hypothesis
B. you would reject the null hypothesis for alpha= .01
C. you would
reject the null hypothesis for alpha= .05
D. you would reject the null hypothesis for alpha= .10
25) The ratio scale of measurement…
A. usually the result of counting something
B. has
meaningful zero point
C. may assume negative values
D. cannot have more than two categories
26) In the world ofmarketresearch, the use
of a questionnaire often plays a vital role in gaining usefulbusinessintelligence
because…
A. it is a structured technique to collect secondarydata
B. it represents a way to ask anything you want from respondents and receive
valid information
C. it does not need to be tested
D. it can be
used in conjunction with other techniques such as field interviews and focus
groups to maximize data input
27) 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.
28) The multiple standard error of estimate is…
A. the measure of variability to the prediction
B. negative when one of the net regression coefficients is zero
C. found by
calculating SSR/SS total
D. the measure of accuracy of the prediction
29) 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.
30) 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 appropriatevalueof
to represent the level of confidence is…
A. z=1.65
B. z=1.96
C. z=1.833
D. z=1.812