Exam (elaborations)
MTH 410 Module 8 Mastery Exercise-Set-2, MTH410 QUANTITATIVE BUSINESS ANALYSIS
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MTH 410 Module 8 Mastery Exercise-Set-2, MTH410 QUANTITATIVE BUSINESS ANALYSIS
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QUESTION 1·
1/1 POINTS
Daniel owns a business consulting service. For each consultation, he
charges $95 plus $70 per hour of work. A linear equation that expresses the total
amount of money Daniel earns per consultation is y=70x+95. What are the
independent and dependent variables? What is the y-intercept and the slope?
That is correct!
The independent variable (x) is the amount, in dollars, Daniel earns for a consultation.
The dependent variable (y) is the amount of time Daniel consults.
Daniel charges a one-time fee of $95 (this is when x=0), so the y-intercept is 95.
Daniel earns $70 for each hour he works, so the slope is 70.
The independent variable (x) is the amount of time Daniel consults. The dependent
variable (y) is the amount, in dollars, Daniel earns for a consultation.
Daniel charges a one-time fee of $95 (this is when x=0), so the y-intercept is 95.
Daniel earns $70 for each hour he works, so the slope is 70.
The independent variable (x) is the amount, in dollars, Daniel earns for a consultation.
The dependent variable (y) is the amount of time Daniel consults.
Daniel charges a one-time fee of $70 (this is when x=0), so the y-intercept is 70.
Daniel earns $95 for each hour he works, so the slope is 95.
The independent variable (x) is the amount of time Daniel consults. The dependent
variable (y) is the amount, in dollars, Daniel earns for a consultation.
Daniel charges a one-time fee of $70 (this is when x=0), so the y-intercept is 70.
Daniel earns $95 for each hour he works, so the slope is 95.
Answer Explanation
Correct answer:
, The independent variable (x) is the amount of time Daniel consults. The dependent
variable (y) is the amount, in dollars, Daniel earns for a consultation.
Daniel charges a one-time fee of $95 (this is when x=0), so the y-intercept is 95.
Daniel earns $70 for each hour he works, so the slope is 70.
The independent variable (x) is the amount of time Daniel consults because it is the
value that changes. He may work different amounts per consultation, and his earnings
are dependent on how many hours he works. This is why the amount, in dollars, Daniel
earns for a consultation is the dependent variable ( y).
The y-intercept is 95 (b=95). This is his one-time fee. The slope is 70 (a=70).
This is the increase for each hour he works.
FEEDBACK
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QUESTION 2
·
1/1 POINTS
In studying the relationship between average daily sales and time spent calling
customers, suppose you computed r=0.346 using n=20 data points. Using the
critical values table below, determine if the value of r is significant or not.
df12345678910CV (+ and -)0.9970.9500.8780.8110.7540.70
70.6660.6320.6020.576df11121314151617181920CV (+ and
-)0.5550.5320.5140.4970.4820.4680.4560.4440.4330.423df2
1222324252627282930CV (+ and -)0.4130.4040.3960.3880.
3810.3740.3670.3610.3550.349df405060708090100CV (+ a
nd -)0.3040.2730.2500.2320.2170.2050.195
That is correct!
, r is significant because it is between the positive and negative critical values.
r is not significant because it is between the positive and negative critical values.
r is significant because it is not between the positive and negative critical values.
r is not significant because it is not between the positive and negative critical values.
Answer Explanation
Correct answer:
r is not significant because it is between the positive and negative critical values.
There are n−2=20−2=18 degrees of freedom. Looking at the table of critical
values, the critical values corresponding to df=18 are −0.444 and 0.444. Since
the value of r is between −0.444 and 0.444, r is not significant.
FEEDBACK
Content attribution- Opens a dialog
QUESTION 3
·
1/1 POINTS
As part of its freshman orientation process, a college gives a math placement exam to
incoming freshmen. The math department is interested in whether there is a statistically
significant difference in the average exam score for students in different programs, at a
level of α=0.01. The exam scores for random samples of science, engineering,
humanities, and business majors are shown in the following table. The math department
has confirmed that the samples were randomly selected and independent, that the
populations are normally distributed, and that the population variances of scores are
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