QNT 351 Final Exam
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1) The main purpose of descriptive statistics is to 2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called 3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment? 4) What type of variable is the number of robberies reported in your city? 5) What level of measurement is the number of auto accidents reported in a given month? 6) The names of the positions in a corporation, such as chief operating officer or controller, are examples of what level of measurement? 7) Shoe sizes, such as 7B, 10D, and 12EEE, are examples of what level of measurement? 8) Monthly commissions of first-year insurance brokers are $1,270, $1,310, $1,680, $1,380, $1,410, $1,570, $1,180, and $1,420. These figures are referred to as 9) A small sample of computer operators shows monthly incomes of $1,950, $1,775, $2,060, $1,840, $1,795, $1,890, $1,925, and $1,810. What are these ungrouped numbers called? 10) The sum of the deviations of each data value from this measure of central location will always be 0 11) For any data set, which measures of central location have only one value? 12) A sample of single persons receiving social security payments revealed these monthly benefits: $826, $699, $1,087, $880, $839, and $965. How many observations are below the median 13) A dot plot shows 14) The test scores for a class of 147 students are computed. What is the location of the test score associated with the third quartile? 15) The National Center for Health Statistics reported that of every 883 deaths in recent years, 24 resulted from an automobile accident, 182 from cancer, and 333 from heart disease. Using the relative frequency approach, what is the probability that a particular death is due to an automobile accident? 16) If two events A and B are mutually exclusive, what does the special rule of addition state? 17) A listing of all possible outcomes of an experiment and their corresponding probability of occurrence is called a 18) The shape of any uniform probability distribution is 19) The mean of any uniform probability distribution is 20) For the normal distribution, the mean plus and minus 1.96 standard deviations will include about what percent of the observations? 21) For a standard normal distribution, what is the probability that z is greater than 1.75? 22) A null hypothesis makes a claim about a 23) What is the level of significance? 24) Suppose we test the difference between two proportions at the 0.05 level of significance. If the computed z is -1.07, what is our decision? 25) Which of the following conditions must be met to conduct a test for the difference in two sample means? 26) Which of the following statements about the two sample sizes is NOT true? Assume the population standard deviations are equal. 27) What is the chart called when the paired data (the dependent and independent variables) are plotted? 28) What is the variable used to predict the value of another called? 29) Twenty randomly selected statistics students were given 15 multiple-choice questions and 15 openended questions, all on the same material. The professor was interested in determining on which type of questions the students scored higher. This experiment is an example of 30) The measurements of weight of 100 units of a product manufactured by two parallel processes have same mean but the standard of process A is 15 while that of B is 7. What can you conclude?