QNT 561 Final Exam Question and Answers

QNT 561 Final Exam – Assignment
1. A random sample of size 15 is selected from a normal population.
The population standard deviation is unknown. Assume the null
hypothesis indicates a two-tailed test and the researcher decided to
use the 0.10 significance level. For what values of t will the null
hypothesis not be rejected?
a) To the left of -1.645 or to the right of 1.645
b) To the left of -1.345 or to the right of 1.345
c) Between -1.761 and 1.761
d) To the left of -1.282 or to the right of 1.282

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2. Which of the following is a characteristic of the F distribution?
a) Normally distributed
b) Negatively skewed
c) Equal to the t-distribution
d) Positively skewed
3. For a chi-square test involving a contingency table, suppose the
null hypothesis is rejected. We conclude that the two variables are
__________.
a) related
b) curvilinear
c) linear
d) not related
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4. A sales manager for an advertising agency believes that there is a
relationship between the number of contacts that a salesperson
makes and the amount of sales dollars earned. What is the dependent
variable?
a) sales managers
b) amount of sales dollars
c) salesperson

d) number of contacts
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5. Which of the following is most appropriately displayed with a
frequency table?
a) What percentage of people prefer Hunt's brand ketchup
b) The home location of the most valuable customers
c) How much explanatory value comes from the study's variables
d) The relationship between gender and job performance
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6. The manager of Paul's fruit and vegetable store is considering the
purchase of a new seedless watermelon from a wholesale distributor.
Since this seedless watermelon costs $4, will sell for $7, and is highly
perishable, he only expects to sell between six and nine of them.
What is the opportunity loss for purchasing nine watermelons when
the demand is for seven watermelons?
a) 8
b) 4
c) 12
d) 0
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7. A firm offers routine physical examinations as part of a health
service program for its employees. The exams showed that 8% of the
employees needed corrective shoes, 15% needed major dental work,
and 3% needed both corrective shoes and major dental work. What is
the probability that an employee selected at random will need either
corrective shoes or major dental work?
a) .25
b) 1.00
c) .50
d) .20
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8. When data is collected using a qualitative, nominal variable, what is
true about a frequency distribution that summarizes the data?
a) The upper and lower class limits must be calculated.
b) The number of classes is equal to the number of variables plus 2.
c) The “5 to the k rule” can be applied.
d) A pie chart can be used to summarize the data.
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9. If an ANOVA test is conducted and the null hypothesis is rejected,
what does this indicate?
a) The p-value is less than a.
b) All population means are different.
c) At least one pair of population means is different.

d) The population means are equal.
10. A random sample of 20 items is selected from a population. When
computing a confidence interval for the population mean, what
number of degrees of freedom should be used to determine the
appropriate t-value?
a) 25
b) 21
c) 19
d) 20
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11. The question, "Should products be withdrawn if even one death is
associated with its prescribed use, even if no fault for the tampered
product accrues to the manufacturer?" is an example of a(n) _____.
a) strip data mining issue
b) unresearchable question
c) ill-defined problem
d) favored-technique problem
12. A large department store examined a sample of the 18 credit card
sales and recorded the amounts charged for each of three types of
credit cards: MasterCard, Visa, and Discover. Six MasterCard sales,
seven Visa, and five Discover sales were recorded. The store used an
ANOVA to test if the mean sales for each credit card were equal. What
are the degrees of freedom for the F statistic?
a) 2 in the numerator, 15 in the denominator
b) 6 in the numerator, 15 in the denominator
c) 18 in the numerator, 3 in the denominator

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 are changing by equal what?
a) amounts
b) percents and proportions
c) proportions
d) percents
14. Which of the following goals should a good survey instrument
accomplish?
a) Encourage each participant to provide accurate responses
b) Encourage participants to be succinct in their responses
c) Encourage participants to answer only those questions they are
comfortable answering
d) Encourage participants to end the survey when they feel they have
contributed enough information
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15. Kroger, a grocery store chain, wants to identify the ideal store
layout for increasing store sales. Because it primarily uses two store
designs, one a grid layout with vertical aisles divided by a center aisle
and another using a traditional straight-aisle pattern, Kroger will
match pairs of stores that have different designs but similar shopper
demographics and location. Sales from each pair will then be

compared to determine if store design is related to sales. Which type
of study is this an example of?
a) Exploratory study
b) Case study
c) Ex post facto study
d) Longitudinal study
16. Bones Brothers & Associates prepare individual tax returns. Over
prior years, Bones Brothers has maintained careful records regarding
the time to prepare a return. The mean time to prepare a return is 90
minutes and the standard deviation of this distribution is 14 minutes.
Suppose 100 returns from this year are selected and analyzed
regarding the preparation time. What assumption do you need to
make about the shape of the population distribution of all possible tax
preparation times to make inferences about the mean time to
complete a tax form?
a) The population distribution is skewed to the left.
b) The population distribution is skewed to the right.
c) The shape of the population distribution does not matter.
d) The population distribution is normal.
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17. Checklists with several items to be considered by respondents
may be subject to _____.
a) recency effects
b) leniency effects
c) halo effects

d) primacy effects
18. In a multiple rating list scale, ____.
a) participants rate multiple items on a 3-point scale
b) the participant is restricted to circling their rating
c) it is possible to visualize the results better than with other numerical
scales
d) the data generated are always ordinal
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19. As the size of the sample increases, what happens to the shape of
the distribution of sample means?
a) It cannot be predicted in advance
b) It is positively skewed
c) It is negatively skewed
d) It approaches a normal distribution
20. For any chi-square goodness-of-fit test, the number of degrees of
freedom is found by ______.
a) n + k
b) k -1
c) n – k - 1
d) n + 1

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21. BankChoice is concerned about stagnating profits and asks, "How
can profitability be improved?" This is an example of a(n) _____.
a) research question
b) measurement question
c) management question
d) investigative question
22. A machine is set to fill the small-size packages of M&M candies
with 56 candies per bag. A sample revealed three bags of 56, two
bags of 57, one bag of 55, and two bags of 58. To test the hypothesis
that the mean candies per bag is 56, how many degrees of freedom
are there?
a) 1
b) 7
c) 9
d) 8
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23. An experimental study is one that _____.
a) attempts to reveal why or how one variable produces changes in
another
b) involves manipulation of one or more variables to determine the effect
on another variable

c) attempts to capture a population's characteristics by making
inferences from a sample's characteristics and testing resulting
hypotheses
d) discovers answers to the questions who, what, when, where, or how
much
24. The monthly salaries of a sample of 100 employees were rounded
to the nearest $10. They ranged from a low of $1,040 to a high of
$1,720. If we want to condense the data into seven classes, what is
the most convenient class interval?
a) $200
b) $50
c) $150
d) $100
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25. Consider a regression analysis, where the correlation coefficient
is 0.18. Then, the coefficient of determination is _______.
a) .0324
b) .36
c) 1.16
d) .424
26. In multiple regression analysis, when the independent variables
are highly correlated, this situation is called __________________.
a) homoscedasticity
b) curvilinearity

c) multicollinearity
d) autocorrelation
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27. Sam's Club installed self-checkout stations that can track not only
member's purchases but also packaging problems, as the system
uses universal product codes to match the item the shopper has in
their cart with its price and inventory level in the store, generating a
spreadsheet style report for the researcher. If you consider the
scanner as the tool for collecting data for Sam's researchers, they are
doing data entry by ____.
a) spreadsheet
b) Optical Character Recognition
c) Field editing
d) Voice recognition
28. The weekly incomes of a large group of executives are normally
distributed with a mean of $2,000 and a standard deviation of $100.
What is the z-score for an income of $2,100?
a) 1.683
b) 0.90
c) 2.00
d) 1.00
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29. A ranking scale is a scale that _____.
a) scores an object without making a direct comparison to another
object
b) groups participants
c) groups concepts according to specific criteria
d) scores an object by making a comparison and determining order
among two or more objects
30. What is the interpretation of a 96% confidence level?
a) The interval contains 96% of all sample means.
b) Approximately 96 out of 100 such intervals would include the true
value of the population parameter.
c) There's a 96% chance that the given interval includes the true value
of the population parameter.
d) There's a 4% chance that the given interval does not include the true
value of the population parameter.
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