QM 520 - QUIZ 1 ALL QUESTIONS. PLUS ANSWERS. ALL 100% CORRECT.
standard deviation of $5,000. What is the probability that a randomly selected individual with an MBA degree
will get a starting salary of at least $47,500?
Select one:
A. 0.0668
B. 0.0798
C. 0.4332
D. 0.4499
Feedback
The corre...
QUIZ 1
The starting salaries of individuals with an MBA degree are normally distributed with a mean of $40,000 and a standard deviation of $5,000. What is the probability that a randomly selected individual with an MBA degree will get a starting salary of at least $47,500?
Select one:
A. 0.0668 B. 0.0798 C. 0.4332 D. 0.4499 Feedback
The correct answer is: 0.0668
A numerical value used as a summary measure for a sample, such as sample mean, is known as
Select one:
a. Population Parameter b. Sample parameter c. Population mean d. Sample statistics Feedback
The correct answer is: Sample statistics
The standard deviation of a standard normal distribution
Select one: A. is always equal to zero B. is always equal to one C. can be any positive value D. can be any value Feedback
The correct answer is: is always equal to one A student makes an 82 on the first test in a statistics course. From this, she assumes that her average at the end of the semester (after other tests) will be about 82. This is an example of __________.
Select one:
A. descriptive statistics B. inferential statistics C. nonparametric statistics D. wishful thinking Feedback
The correct answer is: inferential statistics
The following data give the number of computer keyboards assembled at the Twentieth Century Electronics Company. The sample mean and median values, respectively, are
Select one: a. 87, 42 b. 55.25, 52.5 c. 52.5, 55.25 d. 42, 87 Feedback
The correct answer is: 55.25, 52.5
The Ordinal scale of measurement has the properties of the
Select one:
a. ratio scale of measurement b. interval scale of measurement c. nominal scale of measurement d. ration and interval scales of measurement Feedback
The correct answer is: nominal scale of measurement
What is the mean of the following data set: 1, 2, 3, 4, 5, 6?
Select one:
a. 2.5 b. 3.5 c. 2.75 d. None of the above Feedback
The correct answer is: 3.5
For a standard normal distribution, the probability of z<0 is
Select one:
A. Zero B. 1.0 C. 0.25 D. 0.5 Feedback
The correct answer is: 0.5
If the mean of a normal distribution is negative
Select one:
A. The standard deviation must also be negative B. The variance must also be negative C. A mistake has been made in the computations, because the mean of a normal distribution cannot be negative. D. None of these alternatives is correct. Feedback
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