QNT 561 Final Exam Question With Answers
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<strong>QNT</strong> <strong>561</strong> <strong>Final</strong> <strong>Exam</strong><br />
1. A random sample of size 15 is selected from a normal population. The<br />
population standard deviation is unknown. Assume the null hypothesis indicates<br />
a two-tailed test and the researcher decided to use the 0.10 significance level. For<br />
what values of t will the null hypothesis not be rejected?<br />
a) To the left of -1.645 or to the right of 1.645<br />
b) To the left of -1.345 or to the right of 1.345<br />
c) Between -1.761 and 1.761<br />
d) To the left of -1.282 or to the right of 1.282<br />
2. Which of the following is a characteristic of the F distribution?<br />
a) Normally distributed<br />
b) Negatively skewed<br />
c) Equal to the t-distribution<br />
d) Positively skewed
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3. For a chi-square test involving a contingency table, suppose the null<br />
hypothesis is rejected. We conclude that the two variables are __________.<br />
a) related<br />
b) curvilinear<br />
c) linear<br />
d) not related<br />
4. A sales manager for an advertising agency believes that there is a relationship<br />
between the number of contacts that a salesperson makes and the amount of<br />
sales dollars earned. What is the dependent variable?<br />
a) sales managers<br />
b) amount of sales dollars<br />
c) salesperson<br />
d) number of contacts<br />
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5. Which of the following is most appropriately displayed with a frequency table?<br />
a) What percentage of people prefer Hunt's brand ketchup<br />
b) The home location of the most valuable customers<br />
c) How much explanatory value comes from the study's variables<br />
d) The relationship between gender and job performance<br />
6. The manager of Paul's fruit and vegetable store is considering the purchase of<br />
a new seedless watermelon from a wholesale distributor. Since this seedless<br />
watermelon costs $4, will sell for $7, and is highly perishable, he only expects to<br />
sell between six and nine of them. What is the opportunity loss for purchasing<br />
nine watermelons when the demand is for seven watermelons?
a) 8<br />
b) 4<br />
c) 12<br />
d) 0<br />
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7. A firm offers routine physical examinations as part of a health service program<br />
for its employees. The exams showed that 8% of the employees needed<br />
corrective shoes, 15% needed major dental work, and 3% needed both corrective<br />
shoes and major dental work. What is the probability that an employee selected at<br />
random will need either corrective shoes or major dental work?<br />
a) .25<br />
b) 1.00<br />
c) .50<br />
d) .20<br />
8. When data is collected using a qualitative, nominal variable, what is true about<br />
a frequency distribution that summarizes the data?<br />
a) The upper and lower class limits must be calculated.<br />
b) The number of classes is equal to the number of variables plus 2.<br />
c) The “5 to the k rule” can be applied.<br />
d) A pie chart can be used to summarize the data.<br />
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9. If an ANOVA test is conducted and the null hypothesis is rejected, what does<br />
this indicate?<br />
a) The p-value is less than a.<br />
b) All population means are different.
c) At least one pair of population means is different.<br />
d) The population means are equal.<br />
10. A random sample of 20 items is selected from a population. When computing<br />
a confidence interval for the population mean, what number of degrees of<br />
freedom should be used to determine the appropriate t-value?<br />
a) 25<br />
b) 21<br />
c) 19<br />
d) 20<br />
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11. The question, "Should products be withdrawn if even one death is associated<br />
with its prescribed use, even if no fault for the tampered product accrues to the<br />
manufacturer?" is an example of a(n) _____.<br />
a) strip data mining issue<br />
b) unresearchable question<br />
c) ill-defined problem<br />
d) favored-technique problem<br />
12. A large department store examined a sample of the 18 credit card sales and<br />
recorded the amounts charged for each of three types of credit cards:<br />
MasterCard, Visa, and Discover. Six MasterCard sales, seven Visa, and five<br />
Discover sales were recorded. The store used an ANOVA to test if the mean sales<br />
for each credit card were equal. What are the degrees of freedom for the F<br />
statistic?<br />
a) 2 in the numerator, 15 in the denominator<br />
b) 6 in the numerator, 15 in the denominator<br />
c) 18 in the numerator, 3 in the denominator<br />
d) 3 in the numerator, 18 in the denominator
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13. A linear trend equation is used to represent time series values when the data<br />
are changing by equal what?<br />
a) amounts<br />
b) percents and proportions<br />
c) proportions<br />
d) percents<br />
14. Which of the following goals should a good survey instrument accomplish?<br />
a) Encourage each participant to provide accurate responses<br />
b) Encourage participants to be succinct in their responses<br />
c) Encourage participants to answer only those questions they are comfortable<br />
answering<br />
d) Encourage participants to end the survey when they feel they have contributed<br />
enough information<br />
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15. Kroger, a grocery store chain, wants to identify the ideal store layout for<br />
increasing store sales. Because it primarily uses two store designs, one a grid<br />
layout with vertical aisles divided by a center aisle and another using a traditional<br />
straight-aisle pattern, Kroger will match pairs of stores that have different<br />
designs but similar shopper demographics and location. Sales from each pair will<br />
then be compared to determine if store design is related to sales. Which type of<br />
study is this an example of?<br />
a) Exploratory study<br />
b) Case study<br />
c) Ex post facto study<br />
d) Longitudinal study
16. Bones Brothers & Associates prepare individual tax returns. Over prior years,<br />
Bones Brothers has maintained careful records regarding the time to prepare a<br />
return. The mean time to prepare a return is 90 minutes and the standard<br />
deviation of this distribution is 14 minutes. Suppose 100 returns from this year<br />
are selected and analyzed regarding the preparation time. What assumption do<br />
you need to make about the shape of the population distribution of all possible<br />
tax preparation times to make inferences about the mean time to complete a tax<br />
form?<br />
a) The population distribution is skewed to the left.<br />
b) The population distribution is skewed to the right.<br />
c) The shape of the population distribution does not matter.<br />
d) The population distribution is normal.<br />
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17. Checklists with several items to be considered by respondents may be<br />
subject to _____.<br />
a) recency effects<br />
b) leniency effects<br />
c) halo effects<br />
d) primacy effects<br />
18. In a multiple rating list scale, ____.<br />
a) participants rate multiple items on a 3-point scale<br />
b) the participant is restricted to circling their rating<br />
c) it is possible to visualize the results better than with other numerical scales<br />
d) the data generated are always ordinal<br />
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Answer
19. As the size of the sample increases, what happens to the shape of the<br />
distribution of sample means?<br />
a) It cannot be predicted in advance<br />
b) It is positively skewed<br />
c) It is negatively skewed<br />
d) It approaches a normal distribution<br />
20. For any chi-square goodness-of-fit test, the number of degrees of freedom is<br />
found by ______.<br />
a) n + k<br />
b) k -1<br />
c) n – k - 1<br />
d) n + 1<br />
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21. BankChoice is concerned about stagnating profits and asks, "How can<br />
profitability be improved?" This is an example of a(n) _____.<br />
a) research question<br />
b) measurement question<br />
c) management question<br />
d) investigative question<br />
22. A machine is set to fill the small-size packages of M&M candies with 56<br />
candies per bag. A sample revealed three bags of 56, two bags of 57, one bag of<br />
55, and two bags of 58. To test the hypothesis that the mean candies per bag is<br />
56, how many degrees of freedom are there?<br />
a) 1<br />
b) 7<br />
c) 9
d) 8<br />
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Answer<br />
23. An experimental study is one that _____.<br />
a) attempts to reveal why or how one variable produces changes in another<br />
b) involves manipulation of one or more variables to determine the effect on another<br />
variable<br />
c) attempts to capture a population's characteristics by making inferences from a<br />
sample's characteristics and testing resulting hypotheses<br />
d) discovers answers to the questions who, what, when, where, or how much<br />
24. The monthly salaries of a sample of 100 employees were rounded to the<br />
nearest $10. They ranged from a low of $1,040 to a high of $1,720. If we want to<br />
condense the data into seven classes, what is the most convenient class<br />
interval?<br />
a) $200<br />
b) $50<br />
c) $150<br />
d) $100<br />
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25. Consider a regression analysis, where the correlation coefficient is 0.18. Then,<br />
the coefficient of determination is _______.<br />
a) .0324<br />
b) .36<br />
c) 1.16<br />
d) .424
26. In multiple regression analysis, when the independent variables are highly<br />
correlated, this situation is called __________________.<br />
a) homoscedasticity<br />
b) curvilinearity<br />
c) multicollinearity<br />
d) autocorrelation<br />
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27. Sam's Club installed self-checkout stations that can track not only member's<br />
purchases but also packaging problems, as the system uses universal product<br />
codes to match the item the shopper has in their cart with its price and inventory<br />
level in the store, generating a spreadsheet style report for the researcher. If you<br />
consider the scanner as the tool for collecting data for Sam's researchers, they<br />
are doing data entry by ____.<br />
a) spreadsheet<br />
b) Optical Character Recognition<br />
c) Field editing<br />
d) Voice recognition<br />
28. The weekly incomes of a large group of executives are normally distributed<br />
with a mean of $2,000 and a standard deviation of $100. What is the z-score for an<br />
income of $2,100?<br />
a) 1.683<br />
b) 0.90<br />
c) 2.00<br />
d) 1.00<br />
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29. A ranking scale is a scale that _____.
a) scores an object without making a direct comparison to another object<br />
b) groups participants<br />
c) groups concepts according to specific criteria<br />
d) scores an object by making a comparison and determining order among two or<br />
more objects<br />
30. What is the interpretation of a 96% confidence level?<br />
a) The interval contains 96% of all sample means.<br />
b) Approximately 96 out of 100 such intervals would include the true value of the<br />
population parameter.<br />
c) There's a 96% chance that the given interval includes the true value of the<br />
population parameter.<br />
d) There's a 4% chance that the given interval does not include the true value of the<br />
population parameter.<br />
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