1) The main purpose of descriptive statistics is to

A. summarize data in a useful and informative manner

B. make inferences about a population

C. determine if the data adequately represents the population

D. gather or collect data

 

2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called

A. statistics

B. descriptive statistics

C. inferential statistics

D. levels of measurement

 

3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?

A. Qualitative

B. Continuous

C. Attribute

D. Discrete

 

4) What type of variable is the number of robberies reported in your city?

A. Attribute

B. Continuous

C. Discrete

D. Qualitative

 

5) What level of measurement is the number of auto accidents reported in a given month?

A. Nominal

B. Ordinal

C. Interval

D. Ratio

 

6) The names of the positions in a corporation, such as chief operating officer or controller, are examples of what level of measurement?

A. Nominal

B. Ordinal

C. Interval

D. Ratio

 

7) Shoe sizes, such as 7B, 10D, and 12EEE, are examples of what level of measurement?

A. Nominal

B. Ordinal

C. Interval

D. Ratio

 

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

A. a histogram

B. raw data

C. frequency distribution

D. frequency polygon

 

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?

A. Histogram

B. Class limits

C. Class frequencies

D. Raw data

 

10) The sum of the deviations of each data value from this measure of central location will always be 0

A. Mode

B. Mean

C. Median

D. Standard deviation

 

11) For any data set, which measures of central location have only one value?

A. Mode and median

B. Mode and mean

C. Mode and standard deviation

D. Mean and median

 

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?

A. 0

B. 1

C. 2

D. 3

 

13) A dot plot shows

A. the general shape of a distribution

B. the mean, median, and mode

C. the relationship between two variables

D. the interquartile range

 

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?

A. 111

B. 37

C. 74

D. 75%

 

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?

A. 24/883 or 0.027

B. 539/883 or 0.610

C. 24/333 or 0.072

D. 182/883 or 0.206

 

16) If two events A and B are mutually exclusive, what does the special rule of addition state?

A. P(A or B) = P(A) + P(B)

B. P(A and B) = P(A) + P(B)

C. P(A and/or B) = P(A) + P(B)

D. P(A or B) = P(A) – P(B)

 

17) A listing of all possible outcomes of an experiment and their corresponding probability of occurrence is called a

A. random variable

B. probability distribution

C. subjective probability

D. frequency distribution

 

18) The shape of any uniform probability distribution is

A. negatively skewed

B. positively skewed

C. rectangular

D. bell shaped

 

19) The mean of any uniform probability distribution is

A. (b – a)/2

B. (a + b)/2

C. Σ x/ η

D. nπ

 

20) For the normal distribution, the mean plus and minus 1.96 standard deviations will include about what percent of the observations?

A. 50%

B. 99.7%

C. 95%

D. 68%

 

21) For a standard normal distribution, what is the probability that z is greater than 1.75?

A. 0.0401

B. 0.0459

C. 0.4599

D. 0.9599

 

22) A null hypothesis makes a claim about a

A. A null hypothesis makes a claim about a

B. sample statistic

C. sample mean

D. Type II error

 

23) What is the level of significance?

A. Probability of a Type II error

B. Probability of a Type I error

C. z-value of 1.96

D. Beta error

 

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?

A. Reject the null hypothesis

B. Do not reject the null hypothesis

C. Take a larger sample

D. Reserve judgment

 

25) Which of the following conditions must be met to conduct a test for the difference in two sample means?

A. Data must be at least of interval scale

B. Populations must be normal

C. Variances in the two populations must be equal

D. Data must be at least of interval scale and populations must be normal

 

26) Which of the following statements about the two sample sizes is NOT true? Assume the population standard deviations are equal.

A. Sample A = 11; sample B = 13

B. Sample A = 12; sample B = 14

C. Sample A = 13; sample B = 13

D. Sample A = 10; sample B = 16

 

27) What is the chart called when the paired data (the dependent and independent variables) are plotted?

A. Scatter diagram

B. Bar chart

C. Pie chart

D. Histogram

 

28) What is the variable used to predict the value of another called?

A. Independent variable

B. Dependent variable

C. Correlation variable

D. Variable of determination

 

29) Twenty randomly selected statistics students were given 15 multiple-choice questions and 15 open-ended 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

A. a one sample test of means

B. a two sample test of means

C. a paired t-test

D. a test of proportions

 

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?

A. The weight of units in process A are grouped closer than in process B

B. The weight of units in process B are grouped closer than in process A

C. Both processes are out of control

D. More data is needed to draw a conclusion

 

 

1. The term decision analysis refers to testing how a problem solution reacts to changes in one or more of the model parameters. (Points : 2) True False

 

2. Fixed costs depend on the number of items produced. (Points : 2) True False

 

3. Total cost equal the fixed cost plus the variable cost per unit divided by volume. (Points : 2) True False   

 

4. Profit is the difference between total revenue and total cost. (Points : 2) True False

 

5. An experiment is an activity that results in one of several possible outcomes. (Points : 2) True False 

 

6. Variable costs are independent of volume and remain constant. (Points : 2) True False

 

7. The events in an experiment are mutually exclusive if only one can occur at a time. (Points : 2) True False

 

8. The probabilities of mutually exclusive events sum to zero. (Points : 2) True False

 

9. A model is a functional relationship and include: (Points : 2)

variables

parameters

equations

all of the above

 

10. Which of the following is an equation or an inequality that expresses a resource restriction in a mathematical model? (Points : 2)

decision variable.

data

an objective function.

 a constraint.

a parameter.

 

11. In a given experiment, the probabilities of all mutually exclusive events sum to one. (Points : 2) True False

 

12. Which of the following is not an alternative name for management science? (Points : 2) decision sciences

 quantitative methods

 quantitative analysis

operations research

decision support systems

 

13. The steps of the scientific method are: (Points : 2)

problem definition, model construction, observation, model solution, implementation. observation, problem definition, model construction, model solution, implementation.

model construction, problem definition, observation, model solution, implementation. observation, implementation, problem definition, model construction, model solution.

 

14. A frequency distribution is an organization of numerical data about the events in an experiment. (Points : 2) True False

 

15. A set of events is collectively exhaustive when it includes _______ the events that can occur in an experiment. (Points : 2)

 some of one of all any of

 

16. Objective probabilities that can be stated prior to the occurrence of an event are (Points : 2) subjective a priori

classical or a priori

none of the above

 

17. Which of the following is incorrect with respect to the use of models in decision making? (Points : 2)

they improve understanding of the problem

they promote subjectivity in decision making

they are generally easy to use

they provide a systematic approach to problem solving

 

18. In a given experiment the probabilities of mutually exclusive events sum to (Points : 2)

0

 0.5

1      

none of the above

 

19. A ___________ probability is the probability that two or more events that are not mutually exclusive can occur simultaneously. (Points : 2)

joint

marginal

subjective

binomial

 

20. ____________ techniques include uncertainty and assume that there can be more than one model solution. (Points : 2)

Deterministic

Probabilistic

Distribution

Probability

 

 

QNT 561 Final Exam 1

Rating A

 

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

A. Mean

               

B. Median

               

C. Mode

               

D. Geometric mean

 

 

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

A. Nominal

 

B. Ordinal

               

C. Interval

               

D. Ratio

 

 

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

A. Nominal

               

B. Ordinal

               

C. Interval

               

D. Ratio

 

 

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

A. Mean

               

B. Median

               

C. Mode

               

D. Geometric mean

 

 

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

A. Mean

 

B. Median

               

C. Mode

               

D. Geometric mean

 

 

 

 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.          

A. 8

               

B. 2

               

C. -2

               

D. 6

 

 

 7) The difference between the sample mean and the population mean is called the       

A. margin of error

               

B. population standard deviation

               

C. standard error of the mean

               

D. sampling error

 

 

 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?                

A.   .053

               

B.  .133

               

C.   .500

               

D.    .267

 

 

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

A.   6840

               

B.   1140

               

C.   20

               

D.   120

 

 

 10) The mean and the variance are equal in             

A.   the normal distribution

               

B.    the binomial distribution

               

C.    the Poisson distribution

               

D.    the hypergeometric distribution

 

 

 

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 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

 

 

 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?           

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.

 

 

 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.               

A.   medians

               

B.   means

               

C.   standard deviations

               

D.   variances

 

 

 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    

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

 

 

 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          

A.   z=1.65

               

B.   z=1.96

               

C.    z=1.833

               

D.   z=1.812

 

 

 

16) 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.

 

17) The special rule of addition is used to combine

 A. independent events

B. mutually exclusive events

 C. events that total more than one

 D. events based on subjective probabilities

 

18) 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

 

19) 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

 

20) A nominal scale variable

A. usually involves ranking.

 B. cannot assume negative values

 C. has meaningful zero point

 D. is usually based on counting

 

21) 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

 

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

 A. it is a structured technique to collect secondary data

 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

 

23) 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

 

24) 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

 

25) 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.

 

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

 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

 

27) 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.

 

28) 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

 

29) 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

 

30) 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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The purpose of this discussion is to give you the opportunity to apply ethical theories and perspectives to modern issues of the workplace. Off-duty conduct away from the workplace can be monitored and reported in many ways, and with the increase in social media use, there will be far greater opportunities for employers to become aware of what employees get up to outside of the workplace. Some types of behaviors are especially concerning as they may have on-duty consequences; however,  other types of off-duty behavior are more difficult to clearly define as grossly inappropriate to warrant employer intervention. But who draws this line, and what are the ethical implications of where the line is drawn? Prepare and post a response to the following prompt:

Using the resources provided, your own research, and your knowledge of the ethical concepts from the text, consider the issue of off-site monitoring of conduct:

• Using your own work experience, imagine a circumstance in which your supervisor wanted to monitor your behavior off the job. Describe the circumstances, including how your conduct is being monitored and why your conduct is being monitored.
• Would you consider your example to involve a minor, moderate, or severe invasion on an individual’s privacy? Explain your reasoning. Share your un-emotional, well-defined, evidence-based response to your boss to support your viewpoint.
• What issues led to the employer’s monitoring of the employee? Use one ethical theory or perspective to help support the employer’s viewpoint, and use a scholarly source as your evidence.
• What about the employee’s viewpoint? Use one ethical theory or perspective to support the employee’s right to privacy outside of work, and use a scholarly source as your evidence.

Your initial post should be at least 250 words in length. Support your claims with examples from the required material(s) and/or other scholarly sources, and properly cite any references in APA style as outlined in the Ashford Writing Center. Respond to at least two of your classmates’ posts by Day 7.