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STRAIGHTERLINE BUSINESS STATS FINAL (ACTUAL) 2024 QUESTIONS AND ANSWERS $12.99   Add to cart

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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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  • August 7, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
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  • STRAIGHTERLINE BUSINESS STATS
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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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