QNT 561 Final Exam Question and Answers
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<strong>QNT</strong> <strong>561</strong> <strong>Final</strong> <strong>Exam</strong> – Assignment<br />
1. A r<strong>and</strong>om sample of size 15 is selected from a normal population.<br />
The population st<strong>and</strong>ard deviation is unknown. Assume the null<br />
hypothesis indicates a two-tailed test <strong>and</strong> the researcher decided to<br />
use the 0.10 significance level. For what values of t will the null<br />
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 <strong>and</strong> 1.761<br />
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?<br />
a) Normally distributed<br />
b) Negatively skewed<br />
c) Equal to the t-distribution<br />
d) Positively skewed<br />
3. For a chi-square test involving a contingency table, suppose the<br />
null hypothesis is rejected. We conclude that the two variables are<br />
__________.<br />
a) related<br />
b) curvilinear<br />
c) linear<br />
d) not related<br />
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4. A sales manager for an advertising agency believes that there is a<br />
relationship between the number of contacts that a salesperson<br />
makes <strong>and</strong> the amount of sales dollars earned. What is the dependent<br />
variable?<br />
a) sales managers<br />
b) amount of sales dollars<br />
c) salesperson
d) number of contacts<br />
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5. Which of the following is most appropriately displayed with a<br />
frequency table?<br />
a) What percentage of people prefer Hunt's br<strong>and</strong> 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 <strong>and</strong> job performance<br />
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6. The manager of Paul's fruit <strong>and</strong> vegetable store is considering the<br />
purchase of a new seedless watermelon from a wholesale distributor.<br />
Since this seedless watermelon costs $4, will sell for $7, <strong>and</strong> is highly<br />
perishable, he only expects to sell between six <strong>and</strong> nine of them.<br />
What is the opportunity loss for purchasing nine watermelons when<br />
the dem<strong>and</strong> is for seven watermelons?<br />
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<br />
service program for its employees. The exams showed that 8% of the<br />
employees needed corrective shoes, 15% needed major dental work,<br />
<strong>and</strong> 3% needed both corrective shoes <strong>and</strong> major dental work. What is<br />
the probability that an employee selected at r<strong>and</strong>om will need either<br />
corrective shoes or major dental work?<br />
a) .25<br />
b) 1.00<br />
c) .50<br />
d) .20<br />
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8. When data is collected using a qualitative, nominal variable, what is<br />
true about a frequency distribution that summarizes the data?<br />
a) The upper <strong>and</strong> 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 <strong>and</strong> the null hypothesis is rejected,<br />
what does this indicate?<br />
a) The p-value is less than a.<br />
b) All population means are different.<br />
c) At least one pair of population means is different.
d) The population means are equal.<br />
10. A r<strong>and</strong>om sample of 20 items is selected from a population. When<br />
computing a confidence interval for the population mean, what<br />
number of degrees of freedom should be used to determine the<br />
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<br />
associated with its prescribed use, even if no fault for the tampered<br />
product accrues to the 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<br />
sales <strong>and</strong> recorded the amounts charged for each of three types of<br />
credit cards: MasterCard, Visa, <strong>and</strong> Discover. Six MasterCard sales,<br />
seven Visa, <strong>and</strong> five Discover sales were recorded. The store used an<br />
ANOVA to test if the mean sales for each credit card were equal. What<br />
are the degrees of freedom for the F 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
d) 3 in the numerator, 18 in the denominator<br />
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13. A linear trend equation is used to represent time series values<br />
when the data are changing by equal what?<br />
a) amounts<br />
b) percents <strong>and</strong> proportions<br />
c) proportions<br />
d) percents<br />
14. Which of the following goals should a good survey instrument<br />
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<br />
comfortable answering<br />
d) Encourage participants to end the survey when they feel they have<br />
contributed enough information<br />
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15. Kroger, a grocery store chain, wants to identify the ideal store<br />
layout for increasing store sales. Because it primarily uses two store<br />
designs, one a grid layout with vertical aisles divided by a center aisle<br />
<strong>and</strong> another using a traditional straight-aisle pattern, Kroger will<br />
match pairs of stores that have different designs but similar shopper<br />
demographics <strong>and</strong> location. Sales from each pair will then be
compared to determine if store design is related to sales. Which type<br />
of study is this an example of?<br />
a) Exploratory study<br />
b) Case study<br />
c) Ex post facto study<br />
d) Longitudinal study<br />
16. Bones Brothers & Associates prepare individual tax returns. Over<br />
prior years, Bones Brothers has maintained careful records regarding<br />
the time to prepare a return. The mean time to prepare a return is 90<br />
minutes <strong>and</strong> the st<strong>and</strong>ard deviation of this distribution is 14 minutes.<br />
Suppose 100 returns from this year are selected <strong>and</strong> analyzed<br />
regarding the preparation time. What assumption do you need to<br />
make about the shape of the population distribution of all possible tax<br />
preparation times to make inferences about the mean time to<br />
complete a tax 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<br />
may be subject to _____.<br />
a) recency effects<br />
b) leniency effects<br />
c) halo effects
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<br />
scales<br />
d) the data generated are always ordinal<br />
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19. As the size of the sample increases, what happens to the shape of<br />
the 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<br />
freedom is found by ______.<br />
a) n + k<br />
b) k -1<br />
c) n – k - 1<br />
d) n + 1
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21. BankChoice is concerned about stagnating profits <strong>and</strong> asks, "How<br />
can 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 c<strong>and</strong>ies<br />
with 56 c<strong>and</strong>ies per bag. A sample revealed three bags of 56, two<br />
bags of 57, one bag of 55, <strong>and</strong> two bags of 58. To test the hypothesis<br />
that the mean c<strong>and</strong>ies per bag is 56, how many degrees of freedom<br />
are there?<br />
a) 1<br />
b) 7<br />
c) 9<br />
d) 8<br />
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23. An experimental study is one that _____.<br />
a) attempts to reveal why or how one variable produces changes in<br />
another<br />
b) involves manipulation of one or more variables to determine the effect<br />
on another variable
c) attempts to capture a population's characteristics by making<br />
inferences from a sample's characteristics <strong>and</strong> testing resulting<br />
hypotheses<br />
d) discovers answers to the questions who, what, when, where, or how<br />
much<br />
24. The monthly salaries of a sample of 100 employees were rounded<br />
to the nearest $10. They ranged from a low of $1,040 to a high of<br />
$1,720. If we want to condense the data into seven classes, what is<br />
the most convenient class 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<br />
is 0.18. Then, the coefficient of determination is _______.<br />
a) .0324<br />
b) .36<br />
c) 1.16<br />
d) .424<br />
26. In multiple regression analysis, when the independent variables<br />
are highly correlated, this situation is called __________________.<br />
a) homoscedasticity<br />
b) curvilinearity
c) multicollinearity<br />
d) autocorrelation<br />
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27. Sam's Club installed self-checkout stations that can track not only<br />
member's purchases but also packaging problems, as the system<br />
uses universal product codes to match the item the shopper has in<br />
their cart with its price <strong>and</strong> inventory level in the store, generating a<br />
spreadsheet style report for the researcher. If you consider the<br />
scanner as the tool for collecting data for Sam's researchers, they are<br />
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<br />
distributed with a mean of $2,000 <strong>and</strong> a st<strong>and</strong>ard deviation of $100.<br />
What is the z-score for an 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 _____.<br />
a) scores an object without making a direct comparison to another<br />
object<br />
b) groups participants<br />
c) groups concepts according to specific criteria<br />
d) scores an object by making a comparison <strong>and</strong> determining order<br />
among two or 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<br />
value of the population parameter.<br />
c) There's a 96% chance that the given interval includes the true value<br />
of the population parameter.<br />
d) There's a 4% chance that the given interval does not include the true<br />
value of the population parameter.<br />
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