QBA FINAL PASSED Actual Exam Questions and CORRECT Answers
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Course
QBA
Institution
QBA
QBA FINAL PASSED Actual Exam
Questions and CORRECT Answers
Businesses in a country are listed by size: small, medium, and large. Explain why business
size is an example of an ordinal-scaled variable. - CORRECT ANSWER- The size of a
business is ordinal-scaled because it has values that can be...
QBA FINAL PASSED Actual Exam
Questions and CORRECT Answers
Businesses in a country are listed by size: small, medium, and large. Explain why business
size is an example of an ordinal-scaled variable. - CORRECT ANSWER✔✔- The size of a
business is ordinal-scaled because it has values that can be used as an order or rank of a
categorical variable.
Suppose that you measure the time it takes to download a video from the internet.
a. Explain why the download time is a continuous numerical variable.
b. Explain why the download time is a ratio scaled variable. - CORRECT ANSWER✔✔- a)
Download time is a continuous numerical variable because it has numerical values that arise
from a measuring process.
b) Download times are numerical values that imply order and also have a true zero point.
You want to select a random sample of
n=1 from a population of three items (which are called A, B, and C). The rule for selecting
the sample is as follows: Flip a coin; if it is heads, pick item A; if it is tails, flip the coin
again; this time, if it is heads, choose B; if it is tails, choose C. Explain why this is a
probability sample but not a simple random sample. - CORRECT ANSWER✔✔- This is a
probability sample because the probability of each outcome is known, but it is not a simple
random sample because there is a higher probability of picking item A than there is of picking
item B or of picking item C.
A hotel management company runs 10 hotels in a resort area. The hotels have a mix of
pricing—some hotels have budget-priced rooms, some have moderate-priced rooms, and
some have deluxe-priced rooms. Data are collected that indicate the number of rooms that are
occupied at each hotel on each day of a month. Explain how the 10 hotels can be recoded into
these three price categories. - CORRECT ANSWER✔✔- Create three new categorical
variables, one for each type of priced room. Determine which hotels include budget-priced
rooms and reassign all data for those hotels to a new categorical variable, budget-priced
hotels. Determine which hotels include moderate-priced rooms and reassign all data for those
hotels to a new categorical variable, moderate-priced hotels. Determine which hotels include
deluxe-priced rooms and reassign all data for those hotels to a new categorical variable,
deluxe-priced hotels.
A recent corporate survey indicated that companies that acknowledge the supply chain as a
strategic asset achieve 70% higher performance. The "Leaders" in the survey point to next-
, generation supply chains, which are fast, flexible, and responsive. They are more concerned
with skills that separate a company from the crowd: 51% say differentiating capabilities is the
real key to success. What additional information would you want to know about the survey
before you accepted the results of the study? - CORRECT ANSWER✔✔- A. What was the
margin of error and sample size?
B. Who funded the study?
C. What sampling design was used?
D. (NOT D)
E. What was the population from which the sample was selected?
F. What was the response rate?
How do the average credit scores of people living in different cities differ? The data in the
accompanying table is an ordered array of the average credit scores of
47 cities. Complete parts (a) through (c) below.
a) Construct a frequency distribution and a percentage distribution that have class intervals
with the upper class boundaries 704, 714, and so on. First construct a frequency distribution.
Then construct a percentage distribution.
b) Construct a cumulative percentage distribution.
c. What conclusions can you reach concerning the average credit scores of people living in
different cities? - CORRECT ANSWER✔✔- c) Most average credit scores are concentrated
between 735 and 765.
The following data show the cost of electricity during a summer month for a random sample
of 50 one-bedroom apartments in a large city. Use the data to complete parts a through c
below.
a. Construct a histogram and a percentage polygon. Choose the correct histogram below.
Choose the correct percentage polygon below.
b. Construct a cumulative percentage polygon. Choose the correct cumulative percentage
polygon below.
c. Around what amount does the monthly electricity cost seem to be concentrated? -
CORRECT ANSWER✔✔- c) The majority of utility charges are clustered between $110 and
$180.
The histogram and cumulative percentage polygon below visualize the property taxes per
capita for 65 locations. What conclusions can you reach concerning the property taxes per
capita? - CORRECT ANSWER✔✔- Approximately
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