Question No.1
Every spring semester, the School of Business coordinates with local business leaders a luncheon for graduating seniors, their families, and friends. Corporate sponsorship pays for the lunches of each of the seniors, but students have to purchase tickets to cover the cost of lunches served to guests they bring with them. The following histogram represents the attendance at the senior luncheon, where X is the number of guests each graduating senior invited to the luncheon and f is the number of graduating seniors in each category.
Referring to the histogram from above, how many graduating seniors attended the luncheon?
4
152
275
388
• There is a bar chart missing, which I can't copy.
Question No.2
True or False: When constructing a frequency distribution, classes should be selected in such a way that they are of equal width.
True
False
Question No.3
Referring to the table, what is the cumulative relative frequency for the percentage of calls that lasted 10 minutes or more?
0.16
0.24
0.41
0.90
Question No.4
Which measure of central tendency can be used for both numerical and categorical variables?
arithmetic mean
median
mode
geometric mean
Question No.5
True or False: In a set of numerical data, the value for Q2 is always halfway between Q1 and Q3.
True
False
Question No.6
For some positive value of Z, the probability that a standard normal variable is between 0 and Z is 0.3770. The value of Z is
0.18.
0.81.
1.16.
1.47.
Question No.7
True or False: Any set of normally distributed data can be transformed to its standardized form.
True
False
Question No.8
The owner of a fish market has an assistant who has determined that the weights of catfish are normally distributed, with mean of 3.2 pounds and standard deviation of 0.8 pound. If a sample of 16 fish is taken, what would the standard error of the mean weight equal?
0.003
0.050
0.200
0.800
Question No. 9
True or False: If the amount of gasoline purchased per car at a large service station has a population mean of $15 and a population standard deviation of $4, then 99.73% of all cars will purchase between $3 and $27.
True
False
Question No. 10
In the construction of confidence intervals, if all other quantities are unchanged, an increase in the sample size will lead to a __________interval.
narrower
wider
less significant
biased
Question No. 11
True or False: The sample mean is a point estimate of the population mean.
True
False
Question No. 12
Which of the following statements is not true about the level of significance in a hypothesis test?
The larger the level of significance, the more likely you are to reject the null hypothesis.
The level of significance is the maximum risk we are willing to accept in making a Type I error.
The significance level is also called the a level.
The significance level is another name for Type II error.
Question No. 13
True or False: For a given sample size, the probability of committing a Type II error will increase when the probability of committing a Type I error is reduced.
True
False
Question No. 14
The coefficient of determination (r2) tells us
that the coefficient of correlation (r) is larger than 1.
whether r has any significance.
that we should not partition the total variation.
the proportion of total variation that is explained.
Question No.15
The overall upward or downward pattern of the data in an annual time series will be contained in the __________ component.
trend
cyclical
irregular
seasonal
Question No.16
A company that manufactures designer jeans is contemplating whether to increase its advertising budget by $1 million for next year. If the expanded advertising campaign is successful, the company expects sales to increase by $1.6 million next year. If the advertising campaign fails, the company expects sales to increase by only $400,000 next year. If the advertising budget is not increased, the company expects sales to increase by $200,000. Identify the outcomes in this decision-making problem.
Two choices: (1) increase the budget and (2) do not increase the budget.
Two possibilities: (1) campaign is successful and (2) campaign is not successful.
Four consequences resulting from the Increase/Do Not Increase and Successful/Not Successful combinations.
The increase in sales dollars next year.
Question No. 18
If a cellular call is selected at random, the probability that it will have interference is Answer ?
Answer should be between two and four decimal places e.g. 0.12, 0.123, 0.1234 etc.
Please do NOT include any units in your answer.
Question No. 23
The ordered list below resulted from taking a sample of 25 batches of 500 computer chips and determining how many in each batch were defective.
Defects
1, 2, 4, 4, 5, 5, 6, 7, 9, 10, 12, 12, 14, 17, 20, 21, 23, 23, 24, 26, 27, 27, 28, 29, 29
If a frequency distribution for the defects data is constructed, using ‘0 but less than 5' as the first class, what would be the cumulative relative frequency of the ‘10 but less than 15' class Answer %?
Question No. 24
What is the probability that the sample mean will be less than 46 minutes Answer ?
Answer should be to four decimal places which is consistent with the number of decimal places listed in your appendix tables e.g. 0.1234 etc.
Please do NOT include any units in your answer.
Question No. 25
A quality control engineer is interested in the mean length of sheet insulation being cut automatically by machine. The desired length of the insulation is 12 metres. It is known that the standard deviation in the cutting length is 0.15 metres. A sample of 144 cut sheets yield a mean length of 12.14 metres. This sample will be used to obtain a 95% confidence interval for the mean length cut by machine.
What are the two limits of the confidence interval?
Question No. 33
What would be the joint probability for a ‘bomb success' and good preview given that in the past, it was found that 60% of all bomb successes were rated good?