# Qnt/561 final all correct answers

1. If an ANOVA test is conducted and the null hypothesis is rejected, what does thisindicate?

· The population means areequal.

· All population means aredifferent.

· The p-value is less thana.

· At least one pair of population means isdifferent.

2. Bones Brothers & Associates prepare individual tax returns. Over prior years,Bones Brothers has maintained careful records regarding the time to prepare areturn. The mean time to prepare a return is 90 minutes and the standarddeviation of this distribution is 14 minutes. Suppose 100 returns from thisyear are selected and analyzed regarding the preparation time. What assumptiondo you need to make about the shape of the population distribution of allpossible tax preparation times to make inferences about the mean time tocomplete a tax form?

· The populationdistribution is skewed to the left.

· The populationdistribution is normal.

· The shape of the population distribution does not matter.

· The population distribution is skewed to theright.

3. Themanager of Paul’s fruit and vegetable store is considering the purchase of anew seedless watermelon from a wholesale distributor. Since this seedlesswatermelon costs $4, will sell for $7, and is highly perishable, he onlyexpects to sell between six and nine of them. What is the opportunity loss forpurchasing nine watermelons when the demand is for seven watermelons?

· 4

· 0

· 12

· 8

4 Theweekly incomes of a large group of executives are normally distributed with amean of $2,000 and a standard deviation of $100. What is the z-score for anincome of $2,100?

· 1.683

· 2.00

· -0.90

· 1.00

5

Whichof the following is most appropriately displayed with a frequency table?

· What percentage of peopleprefer Hunt’s brand ketchup

· The home location of themost valuable customers

· The relationship betweengender and job performance

· How much explanatory value comes from thestudy’s variables

6

As thesize of the sample increases, what happens to the shape of the distribution ofsample means?

· It approaches a normaldistribution

· It is negatively skewed

· It is positively skewed

· It cannot be predicted in advance

7

Anexperimental study is one that _____.

· attempts to capture apopulation’s characteristics by making inferences from a sample’scharacteristics and testing resulting hypotheses

· attempts to reveal why orhow one variable produces changes in another

· involves manipulation ofone or more variables to determine the effect on another variable

· discovers answers to the questions who,what, when, where, or how much

8

A largedepartment store examined a sample of the 18 credit card sales and recorded theamounts charged for each of three types of credit cards: MasterCard, Visa, andDiscover. Six MasterCard sales, seven Visa, and five Discover sales wererecorded. The store used an ANOVA to test if the mean sales for each creditcard were equal. What are the degrees of freedom for the F statistic?

· 6 in the numerator, 15 inthe denominator

· 18 in the numerator, 3 inthe denominator

· 3 in the numerator, 18 inthe denominator

· 2 in the numerator, 15 in the denominator

9

Kroger,a grocery store chain, wants to identify the ideal store layout for increasingstore sales. Because it primarily uses two store designs, one a grid layoutwith vertical aisles divided by a center aisle and another using a traditionalstraight-aisle pattern, Kroger will match pairs of stores that have differentdesigns but similar shopper demographics and location. Sales from each pairwill then be compared to determine if store design is related to sales. Whichtype of study is this an example of?

· Case study

· Ex post facto study

· Longitudinal study

· Exploratory study

10

Aranking scale is a scale that _____.

· groups concepts accordingto specific criteria

· scores an object by makinga comparison and determining order among two or more objects

· scores an object withoutmaking a direct comparison to another object

· groups participants

11

For anychi-square goodness-of-fit test, the number of degrees of freedom is found by______.

· k -1

· n – k – 1

· n + 1

· n + k

12

Arandom sample of size 15 is selected from a normal population. The populationstandard deviation is unknown. Assume the null hypothesis indicates atwo-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?

· To the left of -1.645 orto the right of 1.645

· To the left of -1.282 orto the right of 1.282

· Between -1.761 and 1.761

· To the left of -1.345 or to the right of1.345

13

Checklistswith several items to be considered by respondents may be subject to_____.

· primacy effets

· leniency effects

· recency effects

· halo effects

14 For achi-square test involving a contingency table, suppose the null hypothesis isrejected. We conclude that the two variables are __________.

· linear

· not related

· related

· curvilinear

15

Sam’sClub installed self-checkout stations that can track not only member’spurchases but also packaging problems, as the system uses universal productcodes to match the item the shopper has in their cart with its price andinventory level in the store, generating a spreadsheet style report for theresearcher. If you consider the scanner as the tool for collecting data forSam’s researchers, they are doing data entry by ____.

· Field editing

· spreadsheet

· Optical CharacterRecognition

· Voice recognition

16

BankChoiceis concerned about stagnating profits and asks, “How can profitability beimproved?” This is an example of a(n) _____.

· research question

· measurement question

· investigative question

· management question

17

Alinear trend equation is used to represent time series values when the data arechanging by equal what?

· proportions

· percents

· amounts

· percents and proportions

18

In amultiple rating list scale, ____.

· it is possible tovisualize the results better than with other numerical scales

· participants rate multipleitems on a 3-point scale

· the data generated are always ordinal

· the participant is restricted to circlingtheir rating

19

Inmultiple regression analysis, when the independent variables are highlycorrelated, this situation is called __________________.

· homoscedasticity

· multicollinearity

· autocorrelation

· curvilinearity

20

Considera regression analysis, where the correlation coefficient is 0.18. Then, thecoefficient of determination is _______.

· .0324

· .424

· 1.16

· .36

21

Whendata is collected using a qualitative, nominal variable, what is true about afrequency distribution that summarizes the data?

· The number of classesisequal to the number of variables plus 2.

· A pie chart can be used tosummarize the data.

· The upper and lower classlimits must be calculated.

· The “5 to the k rule” can be applied.

22

Whichof the following goals should a good survey instrument accomplish?

· Encourage each participantto provide accurate responses

· Encourage participantstobe succinct in their responses

· Encourage participants toanswer only those questions they are comfortable answering

· Encourage participants to end the surveywhen they feel they have contributed enough information

23

Whichof the following is a characteristic of the *F* distribution?

· Positively skewed

· Equal to thet-distribution

· Negatively skewed

· Normally distributed

24

What isthe interpretation of a 96% confidence level?

· The interval contains 96%of all sample means.

· There’s a 4% chance thatthe given interval does not include the true value of the population parameter.

· There’s a 96% chance thatthe given interval includes the true value of the population parameter.

· Approximately 96 out of 100 such intervalswould include the true value of the population parameter

25

Themonthly 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 condensethe data into seven classes, what is the most convenient class interval?

· $150

· $100

· $50

· $200

26

Arandom sample of 20 items is selected from a population. When computing aconfidence interval for the population mean, what number of degrees of freedomshould be used to determine the appropriate t-value?

· 21

· 20

· 19

· 25

27

A salesmanager for an advertising agency believes that there is a relationship betweenthe number of contacts that a salesperson makes and the amount of sales dollarsearned. What is the dependent variable?

· number of contacts

· sales managers

· salesperson

· amount of sales dollars

28

Thequestion, “Should products be withdrawn if even one death is associatedwith its prescribed use, even if no fault for the tampered product accrues tothe manufacturer?” is an example of a(n) _____.

· unresearchable question

· ill-defined problem

· strip data mining issue

· favored-technique problem

29

A firmoffers routine physical examinations as part of a health service program forits employees. The exams showed that 8% of the employees needed correctiveshoes, 15% needed major dental work, and 3% needed both corrective shoes andmajor dental work. What is the probability that an employee selected at randomwill need either corrective shoes or major dental work?

· .50

· .20

· .25

· 1.00

30

Amachine is set to fill the small-size packages of M&M candies with 56candies per bag. A sample revealed three bags of 56, two bags of 57, one bag of55, and two bags of 58. To test the hypothesis that the mean candies per bag is56, how many degrees of freedom are there?

· 8

· 1

· 7

9