Qnt 561 final exam 1

QNT 561 Final Exam 1

Don't use plagiarized sources. Get Your Custom Essay on
Qnt 561 final exam 1
Just from $13/Page
Order Essay

Rating A


1) Which of the following measures of central location is affected most by extreme values?        

A. Mean


B. Median


C. Mode


D. Geometric mean



 2) Which level of measurement is required for the median?  

A. Nominal


B. Ordinal


C. Interval


D. Ratio



 3) Which level of measurement is required for the mode?      

A. Nominal


B. Ordinal


C. Interval


D. Ratio



 4) In a set of observations, which measure of central tendency reports the value that occurs most often?               

A. Mean


B. Median


C. Mode


D. Geometric mean



 5) The weighted mean is a special case of what?      

A. Mean


B. Median


C. Mode


D. Geometric mean




 6) A sample of 5 companies were examined for changes in their relative market share. The results showed the following increases and decreases: –5, 10, 10, 5, –10.          

A. 8


B. 2


C. -2


D. 6



 7) The difference between the sample mean and the population mean is called the       

A. margin of error


B. population standard deviation


C. standard error of the mean


D. sampling error



 8) A local trade union consists of plumbers and electricians. Classified according to rank:


Apprentice            Journeyman         Master     Total

Plumbers               25           20           30           75

Electricians           15           40           20           75

40           60           50          


A member of the union is selected at random. Given that the person selected is an electrician, what is the probability that the person is a master?                

A.   .053


B.  .133


C.   .500


D.    .267



 9) Suppose a population consisted of 20 items. How many different samples of n = 3 are possible?         

A.   6840


B.   1140


C.   20


D.   120



 10) The mean and the variance are equal in             

A.   the normal distribution


B.    the binomial distribution


C.    the Poisson distribution


D.    the hypergeometric distribution




11) In the 1936 Presidential Election Franklin D. Roosevelt defeated Alfred E. Landon in a landslide vote. A Landon victory had been predicted by the Literary Digest, a magazine that ran the oldest, largest, and most widely publicized of the polls at the time. The Digest’s final prediction was based on 10 million sample ballots mailed to prospective voters, and 2.3 million were returned. The sample of voters was drawn from lists of automobile and telephone owners. Despite the massive size of this sample, it failed to predict a Roosevelt victory, being off the mark by 19 percentage points. The Digest was wrong because      

A.   the sample size, although large, was not large enough


B.    the right research questions were not asked


C.    respondents intentionally lied about their preferred candidate


D.     the sample used was not representative of the actual population at the time



 12) In a study on the effect of reinforcement on learning from a company online training program, two experimental treatments are planned: reinforcement given after every learning module, or reinforcement given after every two learning modules. Reinforcement is accomplished with the addition of more examples. Which one of the following control groups would serve best in this study?           

A.  A group that does not read any of the learning modules.


B.   A group that reads the modules using hardcopy only.


C.  A group that reads the learning modules, but does not receive reinforcement.


D. A group that reads the learning modules with random reinforcement.



 13) The central limit theorem is important to market researchers because it states that as sample sizes increase, the distribution of the sample ________ collected from consumers on any topic of interest being researched approaches the normal distribution.               

A.   medians


B.   means


C.   standard deviations


D.   variances



 14) To find confidence intervals for the mean of a normal distribution, the t distribution is usually used in practical applications instead of the standard normal distribution because    

A.   the mean of the population is not known


B.   the t distribution is more effective


C.   the variance of the population is usually not known


D.   the sample size is not known



 15) We wish to develop a confidence interval for the population mean. The population follows the normal distribution, the standard deviation of the population is 3, and we have a sample of 10 observations. We decide to use the 90% level of confidence. The appropriate value of to represent the level of confidence is          

A.   z=1.65


B.   z=1.96


C.    z=1.833


D.   z=1.812




16) Which of the following is a correct statement about a probability?

A. It may range from 0 to 1.

 B. It may assume negative values.

 C. It may be greater than 1.

 D. It cannot be reported to more than 1 decimal place.


17) The special rule of addition is used to combine

 A. independent events

B. mutually exclusive events

 C. events that total more than one

 D. events based on subjective probabilities


18) We use the general rule of multiplication to combine

 A. events that are not independent

 B. mutually exclusive events

C. events that total more than 1.00

 D. events based on subjective probabilities


19) A discrete variable

 A. is an example of a qualitative variable

 B. can assume only whole number values

 C. can assume only certain clearly separated values

D. cannot be negative


20) A nominal scale variable

A. usually involves ranking.

 B. cannot assume negative values

 C. has meaningful zero point

 D. is usually based on counting


21) The ratio scale of measurement

 A. usually the result of counting something

B. has meaningful zero point

 C. may assume negative values

 D. cannot have more than two categories


22) In the world of market research, the use of a questionnaire often plays a vital role in gaining useful business intelligence because

 A. it is a structured technique to collect secondary data

 B. it represents a way to ask anything you want from respondents and receive valid information

 C. it does not need to be tested

D. it can be used in conjunction with other techniques such as field interviews and focus groups to maximize data input


23) A Type I error is

 A. the correct decision

 B. a value determined from the test statistic

C. rejecting the null hypothesis when it is true

 D. accepting the null hypothesis when it is false


24) In a two-sample test of means for independent samples, we use the z distribution when

 A. the population standard deviations are equal

B. both populations have at least 4,000 observations

 C. both population standard deviations are known

 D. nB and n(1-B) are both greater than 5


25) Which of the following is a requirement for a two-sample test of proportions?

 A. The population standard deviations are equal.

 B. Both populations are positively skewed.

 C. Both samples are at least 30.

D. nB and n(1-B) are both greater than 5.


26) Bob is interested in opening a candy store in his town. He believes that his customers will spend an average of $75 or more in annual purchases (the alternative hypothesis). Bob hires a consultant to test this belief. The consultant tested this conjecture on a sample of 100 customers and found the p-value for the test statistic satisfied p > .25, then

 A. you would not reject the null hypothesis

 B. you would reject the null hypothesis for alpha= .01

C. you would reject the null hypothesis for alpha= .05

 D. you would reject the null hypothesis for alpha= .10


27) A carefully designed business experiment has just been concluded. Unfortunately, use of alpha = .05 indicated no significant differences among four treatments. What useful information can you supply future investigators when you report on this experiment?

A. The means are different but their variances are the same.

 B. The estimated variance (and its df) can be useful to future investigators.

 C. Pair-wise tests can be conducted to show significant differences.

 D. Significant differences can be reported by changing the type I error rate from .05 to .10, .20, or whatever is needed to declare significance.


28) A correlation matrix

A. shows all simple coefficients of correlation between variables

 B. shows only correlations that are zero

 C. shoes the correlations that are positive

 D. shows only the correlations that are statistically significant


29) The multiple standard error of estimate is

 A. the measure of variability to the prediction

 B. negative when one of the net regression coefficients is zero

C. found by calculating SSR/SS total

 D. the measure of accuracy of the prediction


30) A dummy variable or indicator variable

 A. may assume only a value of 0 or 1

B. is another term for the dependent variable

 C. is a quantitative variable

 D. is a variable at a ratio or interval level of measurement



Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our Guarantees

At 111papers.com, we value all our customers, and for that, always strive to ensure that we deliver the best top-quality content that we can. All the processes, from writing, formatting, editing, and submission is 100% original and detail-oriented. With us, you are, therefore, always guaranteed quality work by certified and experienced writing professionals. We take pride in the university homework help services that we provide our customers.

Money-Back Guarantee

As the best homework help service in the world, 111 Papers ensures that all customers are completely satisfied with the finished product before disbursing payment. You are not obligated to pay for the final product if you aren’t 100% satisfied with the paper. We also provide a money-back guarantee if you don’t feel that your paper was written to your satisfaction. This guarantee is totally transparent and follows all the terms and conditions set by the company.

Read more

Zero-Plagiarism Guarantee

All products that we deliver are guaranteed to be 100% original. We check for unoriginality on all orders delivered by our writers using the most advanced anti-plagiarism programs in the market. We, therefore, guarantee that all products that we submit to you are 100% original. We have a zero-tolerance policy for copied content. Thanks to our strict no plagiarized work rule, you can submit your homework to your professor without worrying.

Read more

Free-Revision Policy

TThis is one of the most cherished courtesy services that we provide to help ensure that our customers are completely satisfied with our finished products. Delivering the best final product to our customers takes multiple inputs. 111papers.com prides itself on delivering the best university homework help services in the writing industry. And, in part, our free revision policy is how we do it. What’s more, all our revisions are 100% free without any strings attached.

Read more

Privacy Policy

Client privacy is important to use. We know and understand just how important customers value their privacy and always want to safeguard their personal information. Thus, all the information that you share with us will always remain in safe custody. We will never disclose your personal information to any third party or sell your details to anyone. 111 Papers uses the most sophisticated, top-of-the-line security programs to ensure that our customers’ information is safe and secured.

Read more

Fair-Cooperation Guarantee

Placing your order with us means that you agree with the homework help service we provide. We, in turn, will endear to ensure that we do everything we can to deliver the most comprehensive finished product as per your requirements. We will also count on your cooperation to help us deliver on this mandate. Yes, we also need you to ensure that you have the highest-quality paper.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages