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**QNT
561 Final Exam**

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) 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 the value that
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. margin of
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 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

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 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.

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 to combine…

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 relative market share. 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 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

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
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