Exam (elaborations)
STRAIGHTERLINE BUSINESS STATS FINAL (ACTUAL) 2024 QUESTIONS AND ANSWERS
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STRAIGHTERLINE BUSINESS STATS FINAL (ACTUAL) 2024 QUESTIONS AND ANSWERS
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STRAIGHTERLINE BUSINESS STATS FINAL(ACTUAL)
The coefficient of skewness is the standard deviation divided by the mean. -
ANSWERS-False
If there are "m" ways of doing one thing, and "n" ways of doing another thing, the
multiplication formula states that there are (m) × (n) ways of doing both. -
ANSWERS-True
The probability of rolling a 3 or 2 on a single die is an example of mutually
exclusive events. - ANSWERS-True
An illustration of an experiment is turning the ignition key of an automobile as it
comes off the assembly line to determine whether or not the engine will start. -
ANSWERS-True
To apply the special rule of addition, the events must be mutually exclusive. -
ANSWERS-True
If two events are mutually exclusive, then P(A and B) = P(A)P(B). - ANSWERS-False
The probability of rolling a 3 or 2 on a single die is an example of conditional
probability. - ANSWERS-False
,A coin is tossed four times. The joint probability that all four tosses will result in a
head is ¼ or 0.25. - ANSWERS-False
A combination of a set of objects is defined by the order of the objects. -
ANSWERS-False
An individual can assign a subjective probability to an event based on the
individual's knowledge about the event. - ANSWERS-True
The joint probability of two independent events, A and B, is computed as P(A and
B) = P(A) P(B). - ANSWERS-True
A random variable represents the outcome of an experiment. - ANSWERS-True
The mean of a probability distribution is called its expected value. - ANSWERS-
True
To construct a binomial probability distribution, the mean must be known. -
ANSWERS-False
A probability distribution is a mutually exclusive and collectively exhaustive listing
of experimental outcomes that can occur by chance, and their corresponding
probabilities. - ANSWERS-True
,The mean of a binomial distribution is the product of n and π. - ANSWERS-True
The number of different standard normal distributions is unlimited. - ANSWERS-
False
The main purpose of descriptive statistics is to - ANSWERS-Summarize data in a
useful and informative manner
Which word is NOT part of the definition of descriptive statistics? - ANSWERS-
Predicting
A marketing class of 50 students evaluated the instructor using the following
scale: superior, good, average, poor, and inferior. The descriptive summary
showed the following survey results: 2% superior, 8% good, 45% average, 45%
poor, and 0% inferior. - ANSWERS-c. Most students rated the instructor as poor or
average.
What type of variable is the number of robberies reported in your city? -
ANSWERS-Quantitative
The Nielsen Ratings break down the number of people watching a particular
television show by age. What level of measurement is age? - ANSWERS-Ratio
, What level of measurement is a person's "favorite sport"? - ANSWERS-Nominal
The final rankings of the top 20 NCAA college basketball teams are an example of
which level of measurement? - ANSWERS-Ordinal
What level of measurement is the Centigrade temperature scale? - ANSWERS-
Interval
A survey includes a question regarding marital status that has the following
responses: single, married, divorced, separated, or widowed. What is the scale of
measurement for this question? - ANSWERS-Nominal
A group of women tried five brands of fingernail polish and ranked them
according to preference. What level of measurement is this? - ANSWERS-Ordinal
Shoe style is an example of what level of measurement? - ANSWERS-Nominal
When TV advertisements report "2 out of 3 dentists surveyed indicated they
would recommend Brand X toothpaste to their patients," an informed consumer
may question the conclusion because the: - ANSWERS-Advertisement does not
include the total number of dentists surveyed
A sample of the paramedical fees charged by clinics revealed these amounts: $55,
$49, $50, $45, $52, and $55. What is the median charge? - ANSWERS-51.00
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