RES 342 Final solution Sample - All 54 questions answers - A++ (9)
RES 342 Final solution Sample - All 54 questions answers - A++ (9)
Popular in Course
verified elite notetaker
Popular in Department
This 18 page Study Guide was uploaded by tophomework Notetaker on Wednesday November 11, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 25 views.
Reviews for RES 342 Final solution Sample - All 54 questions answers - A++ (9)
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 11/11/15
1) A hypothesis test that involves a small sample requires that we make the following assumption that A. a larger computed value of t will be needed to reject the null hypothesis B. the confidence interval will be wider than for large samples C. the region of acceptance will be wider than for large samples D. the population is normally distributed 2) The area of rejection, on a bell shaped curve, defines the location of all those values that are A. within the selected confidence interval for the test B. so small or so large that the probability of their occurrence under a true null hypothesis is to be expected C. so small or so large that the probability of their occurrence under a false null hypothesis is rather remote D. so small or so large that the probability of their occurrence under a true null hypothesis is rather slim 3) The statement that determines if the null hypothesis is rejected or not is called the A. decision rule B. alternate hypothesis C. test statistic D. critical value 4) A statistician was setting up a hypothesis test with a level of significance dictated by upper management. However, she was concerned that the test she wished to perform might have unacceptable large possibilities of Type II error, ß. Which of the following would solve this problem? A. Convince upper management to use a larger pvalue. B. Convince upper management to use a smaller pvalue. C. Convince upper management to use a larger sample. D. Convince upper management to reduce the level of significance of the test. 5) Doi Winery has two wine shops in the neighboring towns of Seamen and Batavia. The favorite wine, as advertised, is Raspberry wine. A survey of 300 customers at the Seamen store revealed that 225 individuals preferred the Raspberry wine while 290 out of 400 in Batavia preferred the same flavor. To test the hypothesis that there was no difference in preferences in the two towns, what is the alternate hypothesis? A. µ1 < µ2 B. µ1 = µ2 C. µ1 > µ2 D. µ1 ≠ µ2 6) In classical hypothesis testing, the test statistic is to the critical value what the ________________. A. pvalue is to alpha B. test statistic is to the pvalue C. critical value is to alpha D. level of significance is to the test statistic 7) You are conducting a twotailed test of means but your software package only calculates a onetailed pvalue equal to 0.13. The actual pvalue for your test is A. 0.13 B. 0.26 C. 0.065 D. need a table to calculate this value. 8) When testing for differences between two means, the BehrensFisher problem arises when the sample populations are A. normal with equal variances. B. are nonnormal and have equal variances. C. are normal with unequal variances. D. are nonnormal and have unequal variances. 9) A machine is set to fill the small size packages of Good and Better candies are packaged with 60 pieces of candies in each bag. Sampling results revealed: 3 bags of 61, 2 bags of 59, 1 bag of 58, and 2 bags of 62. How many degrees of freedom are there? A. 9 B. 8 C. 1 D. 7 10) Golf balls that are properly manufactured will have a rebound height of 42 inches when dropped by a testing machine from a height of 5 feet. The quality control inspector is concerned that a new manufacturing machine is not properly calibrated and that the resulting golf balls are falling short of the desired height. At random, 100 golf balls were selected for a test. The test results indicated that the rebound height was 41.6 inches with a standard deviation of 0.5. At the .05 significant level, what is the result of the test? A. There is no significant difference. B. A decision regarding a significant difference cannot be made. C. There is a significant difference; the golf balls are defected. D. A larger test sample is needed. 11) In a test for the equality of two variances (twotailed), when the populations are normal, a 5% level of significance was used. Sample sizes were n = 131and n = 10.2The upper critical value for the test is A. =FINV(0.05, 12, 9). B. =FINV(0.025, 13, 10). C. =FINV(0.025, 12, 9). D. =FINV(10.025, 13, 10). 12) Newton’s, a tire manufacturer, wanted to set a mileage guarantee on its new Road Warrior 60 tire. A sample test of 500 tires revealed that the tire’s mileage is normally distributed with a mean of 50,000 miles and a standard deviation of 1,750 miles. The warranty on the tires is presently set at 47,500 miles. The ztest statistic result was 1.43. The manufacturer wanted to determine if the tires were exceeding the guarantee. At the .05 significant level, it was concluded that the tires are exceeding the manufacturer’s guarantee. A. The decision needs to be delay until more data is collected. B. This was the correct decision. C. A decision cannot be made. D. The evidence does not support this decision. 13) The owner of a bottling company is considering buying a new bottling machine. He has been testing two different machines that are being considered. After collecting 300 samples from each machine over several weeks, he was able to conduct a two sample z test.<p>He decided to utilize a 0.05 significant level for the test. The test was to address the claim that the mean weight of the bottles filled by the Orno machine was greater than the mean weight of the bottles filled by the Edne machine. The test statistics was 2.21. What is the decision regarding the hypothesis? A. There is not enough data available to answer the question. B. Reject the null hypothesis; there is a significant difference. C. Accept the null hypothesis; there is not a significant difference. D. This is a two tail test and the critical value for the test is 1.96. 14) Indy H2O is a water bottling company. They are looking at two different bottling manufacturers’ equipment for the purpose of replacing some old equipment. The net weights of a sample of bottles filled by a machine manufactured by WTR, and the net weights of a sample filled by a similar machine manufactured by Target are (in grams): WTR: 8, 9, 7, 8, 9, and 10 Target: 8, 10, 7, 11, 9, 12, 8, and 9 Testing the claim at the 0.05 level that the mean weight of the bottles filled by the Target machine is greater than the mean weight of the bottles filled by the WTR machine, what is the critical value? A. 2.179 B. 2.145 C. 1.782 D. 1.761 15) When is it appropriate to use the paired difference ttest? A. Four samples are compared at once B. Any two samples are compared C. Two independent samples are compared D. Two dependent samples are compared 16) What is the critical value for a onetailed hypothesis test in which a null hypothesis is tested at the 5% level of significance based on two samples, both sample sizes are 13? A. 1.708 B. 1.711 C. 2.060 D. 2.064 17) A consumer researcher is testing the difference between two proportions at the 0.05 level of significance. The researcher was utilizing the z distribution for the test. If the computed test statistic z value was 1.12, what was the decision? A. Reject the null hypothesis. B. Do not reject the null hypothesis. C. Take a larger sample. D. Reserve judgment. 18) Two different accounting procedures that are utilized by businesses as a way to evaluate their inventory are LIFO (Last In First Out) and FIFO (First In First Out). ABC manufacturer evaluated its finished goods inventory (in $ thousands) for five products using both procedures. Based on the following results, is LIFO more effective in keeping the value of his inventory lower? Product FIFO (F) LIFO (L) 1 225 221 2 119 100 3 100 113 4 212 200 5 248 245 The 5% level of significance was selected for the t value. The calculated test statistic was 1.93. What is the decision? A. Fail to reject the null hypothesis and conclude LIFO is more effective. B. Reject the null hypothesis and conclude LIFO is more effective. C. Reject the alternate hypothesis and conclude LIFO is more effective. D. Fail to reject the null hypothesis and conclude LIFO is not more effective. 19) A trolley system is being planned for the downtown area of Cincinnati, Ohio. To be able to proceed with this project, planners have indicated that at least 20% of the residents of the areas that would be covered need to support the idea. To determine the feelings of these city residents, a sample of 300 residents was taken. Seventeen percent of the sample responded that they would ride the trolley. Is this enough evidence for the project to proceed? Use the .05 level of significant. A. There is enough evidence; move forward with the project. B. A ttest would be the best choice for the test. C. There is not enough evidence to support the moving forward with the project. D. A decision cannot be made either yes or no. 20) Watson’s TV claims that their televisions have the best performance record on the market. They advertise that after 3 years only 10% of their sold televisions have had any type of repairs. The president of the company wanted to confirm that this statement was correct. To do this, a sample of 60 sets was taken of sets that had been sold and were at least 3 years old. Twelve percent of these television sets had been in for repair. The null hypothesis is that there is no difference between the stated percent and the sample data. At the .05 significant level, what can we conclude about the null hypothesis? A. The null hypothesis is rejected and the difference is significant. B. The data fails to reject the null hypothesis. C. The sample is too small to be able to decide. D. The difference is too close to be able to decide. 21) New college business graduates are finding it difficult to get a job. A business journal has reported that only one in five graduates is able to find a job within 6 months of their graduation. A report by the University of Phoenix indicated that out of a survey of 300 recent business graduates, 75 had jobs. You are a business major at the University of Phoenix and have a concern about getting a job. Based on this data, will a graduate of the University of Phoenix have a better chance of getting a job in the first 6 months after graduation? Use the .05 significant level for the test. A. No, there is not a significant difference. B. Cannot be predicted based on this data. C. Yes, there is a significant difference. D. The business journal information is incorrect. 22) Blake’s Mortgage Company utilizes four different appraisers for the purpose of determining the value of a house. There is a concern by the company’s owner that the appraisers are not providing the same estimates. She wants to determine if there is a difference between the four appraisers. Six houses were selected and each appraiser provided an appraisal for each of the six houses. What would be the best statistical test to use for the analysis of this data? A. A paired ttest B. KruskalWallis test C. Chi square test D. An ANOVA 23) Which is NOT a valid assumption for the utilization of the ANOVA test? A. The samples are independent. B. The populations have equal standard deviations. C. The MSE/MST provides the test statistics for the F distribution. D. The samples are from populations that follow the normal distribution. 24) The F distribution is utilized with the ANOVA test. There are some basic assumptions associated with the distribution. Which of these assumptions is NOT valid? A. Its values cannot be negative. B. There is a family of distributions. C. It is a continuous distribution. D. It is negatively skewed. 25) Robinson, a large department store, wanted to example to look at which credit cards were being utilized for purchases. A sample of 18 credit card sales was taken and recorded. The amounts charged for each of three different credit cards, MasterCard, Visa, and Discover, were: six MasterCard sales, seven Visa sales, and five Discover sales. The store used an ANOVA to test if the mean sales for each credit card were equal. What are the degrees of freedom for the F statistic? A. 6 in the numerator, 15 in the denominator B. 2 in the numerator, 15 in the denominator C. 3 in the numerator, 18 in the denominator D. 18 in the numerator, 3 in the denominator 26) In ANOVA analysis, when the null hypothesis is rejected, we can find which means are different by A. doing a t test B. doing an additional ANOVA C. adding another treatment D. constructing confidence intervals 27) Ace Car Rental has three main models that are used in it midsize range of cars. The cars are very similar and perform at about the same level. Since the customer has to pay for the gas use during the rental period, the manager is often asked about which car gets the best gas mileage. To be able to address this question, an analysis was done of the three makes of cars. Each car can use any one of four different grades of gasoline. The data collected was for each car for each type of fuel. Performance was measured in miles per gallon. Perform an ANOVA test and state the results. Gasoline Model A Model B Model C Regular 21.4 22.3 20.8 Super Regular 20.6 17.1 19.5 Unleaded 21.3 19.2 20.2 Premium 20.5 20.3 18.5 A. F = 6.54, there is a significant difference between models. B. F = 2.41, there is not a significant difference between models. C. F = 1.39, there is not a significant difference between models. A. F = 6.54, there is a significant difference between models. D. F = 5.67, there is a significant difference between models. 28) The chisquare has A. a uniform distribution B. a family of distributions C. two distributions D. one distribution 29) In the chisquared goodnessoffit test, if the expected frequencies e and the observed i frequencies f iere quite different, we would conclude that the [ID: 29826] A. chisquared distribution is invalid, and we would use the tdistribution instead B. alternative hypothesis is false, and we would reject it C. null hypothesis is true, and we would not reject it D. null hypothesis is false, and we would reject it 30) What nonparametric test is used when the assumptions for the parametric analysis of variance (ANOVA) cannot be met? Its purpose is to test whether three or more populations are equal. The data must be at least ordinal scaled. A. ANOVA B. MannWhitney C. KruskalWallis D. Students' t 31) The nonparametric counterpart of the randomized block model of the ANOVA is the A. Wilcoxon signed rank sum test B. Wilcoxon rank sum test C. Friedman test D. KruskalWallis test 32) The Ohio Department of Highways is in the process of selecting a new paint for highway use. Four different paint companies have been contact regarding this need and each of the companies has supplied paint for testing. Before deciding the winner of the new contract, a test was conducted to determine which paint was the best, in terms of how long it would last. The results of the test are as follows: Category Paint A Paint B Paint C Paint D Days 345 320 350 310 Each paint is expected to last 330 days. Is there a significant difference between these four paints? Use the chi square distribution at the .05 significant level to answer this question. A. A decision cannot be made; more testing is required. B. Paint B and D are significantly different then paints A and C. C. The test result is less than the critical value, so there is not a significant difference. D. The test result is greater than the critical value, so there is a significant difference. 33) Rachael Smith is the personnel manager at Johnson and Johnston, an accounting firm. She is concerned about tardiness, which seems to be an increasing problem, especially after days off work. She decided to sample the records to determine if tardiness was distributed evenly throughout the 6-day work week. The null hypothesis to be tested was: Tardiness is distributed evenly throughout the week. The 0.01 level was used as the significant level. The sample results were: Day of Week Number Absent Monday 12 Tuesday 9 Wednesday 11 Thursday 10 Friday 9 Saturday 9 What is the critical value of chisquare with a significant level of = 0.05? A. 15.033 B. 13.388 C. 12.592 D. 11.070 34) To determine whether four population means are equal, a sample from each population was selected at random and using the KruskalWallis test, H was computed to be 2.11. What is your decision at the 0.05 level of risk? A. Reject the null hypothesis because 2.11 > critical value of 1.96 B. Reject the null hypothesis because 7.815 is > 2.11 C. Fail to reject the null hypothesis because 2.11 < 7.815 D. Fail to reject the null hypothesis because 0.05 < 2.11 35) Clermont Savings and Loan has four branches located throughout the county. The activity level at these four branches appears to be different but the manger needs verification. Turnover rate, how quickly money is withdrawn from an account after being deposited, was selected as the variable to be measured. A total sample of 22 accounts was collected from the four Branches. The KruskalWallis test, at the .01 significant level, was selected for the statistical analysis. The null hypothesis being tested was that the population distribution between the four branches is identical. The test statistics was H = 12.453. What is the correct interpretation of this result? A. More information is needed to be able to make a decision. B. A different test needs to be used for the analysis. C. The null hypothesis is rejected. D. The null hypothesis is accepted. 36) Corny’s Feed Company markets four different mixtures of feed for chickens. These feeds have different combinations of ingredients. One question that the manager is often asked by customers is if there is a difference between the four feeds in terms of weight gain. To be able to address this question an analysis was done of the four feeds. They contacted a local farmer to conduct a test regarding the four feeds. There were 28 chickens selected for the test. These chickens were divided into four groups, with each group receiving one of the feeds. The statistical test selected for the analysis was the KruskalWallis test and the .05 significant level was used for the test. The test result was H 4.65. This indicates that A. the feeds are the same B. the feeds need to be tested some more before a decision can be made C. some of the feeds are different D. the feeds are different A. the feeds are the same 37) What is the measure that indicates how precise a prediction of Y is based on X or, conversely, how inaccurate the prediction might be? A. Least squares principle B. Slope of the line C. Standard error of estimate D. Regression equation 38) What is the range of values for a coefficient of correlation? A. Unlimited range B. –3 to +3 inclusive C. –1.0 to +1.0 inclusive D. 0 to +1.0 39) What is the variable used to predict another variable called? A. Causal variable B. Dependent variable C. Important variable D. Independent variable 40) The Ohio Electric Company is investigating electric consumption by single family homes based on the number of rooms. The investigators wanted to determine the relationship between number of rooms and electric consumption in kilowatt-hours (thousands). A sample of 12 homes was selected and the data is as follows: Number of Rooms KilowattHours Number of Rooms KilowattHours 10 10 8 9 9 8 10 11 7 6 10 9 12 13 8 9 8 7 6 7 11 12 5 6 A. the feeds are the same What percent of the variation is explained by the variable, number of rooms? A. .901 B. .812 C. .451 D. .949 41) A researcher was investigating the relationship between the variables grades in high school and grades in college. The investigator wanted to determine if a relationship existed and if so, to what extent. A regression analysis was perform on the data and the correlation value was r = . 71. Based on this finding, which statement is correct? A. The researcher was able to explain about 80 percent of the variation in the problem by this variable. B. The researcher was able to explain about 50 percent of the variation in the problem by this variable. C. The researcher was able to explain about 36 percent of the variation in the problem by this variable. D. The researcher was able to explain about 71% of the variation in the problem by this variable. 42) The Golden Park and Recreation Department wants to determine a better way to estimate income at the various recreational centers. One relationship that was investigated was between family size and amount spent on recreation. The question was if smaller families spent less money than larger families. A regression analysis tool was selected to be used to address this question. Data was collected from 15 member families regarding what they spent each week on recreation. Their data was as follows: Family Size Amount Spent Family Size Amount Spent Family Size Amount Spent 4 $109 3 $101 3 $115 5 114 4 120 6 174 3 161 4 125 5 156 5 159 6 170 4 145 5 164 3 104 5 145 A. the feeds are the same Compute the coefficient of correlation. A. .618 B. .681 C. .463 D. .861 43) The Actuarial Department of an insurance company was assigned the task of determining the relationship between the distance to a fire station and the amount of damage to a house. This is one factor that is utilized in determining the cost of insurance for a home owner. A sample of 35 claims was selected from last year. When the analysis was completed the following regression equation was the result. (X is the distance to a fire station and Y' is the amount of damage in thousands of dollars) Y' = 11.65 + 5.12X If a house was 10 miles from the fire station, what would be the best estimate of the cost of damages to the house? A. For every mile that the house is from the fire station, the damages to the house will increase by the factor 5.12. B. For every mile that the house is from the fire station, there is an 11.65 increase in cost. C. The damages to a house that is 10 miles from a fire station would be about $53,000. D. There is a direct relationship but it is weak. 44) In the least squares equation, Y' = 12 + 25X the value of 25 indicates A. the X factor B. for each unit increase in X, Y increases by 25 C. for each unit increase in Y, X increases by 25 D. the Y intercept 45) Thomas and Thomas, a large plumbing company in Louisville, has a huge staff of plumbers that are utilized on contractual projects. Before a plumber is hired, an aptitude test must be A. the feeds are the same taken and passed. After a plumber is hired they are evaluated on their performance. Each plumber receives a job performance score based on their individual production. The production manager wants to determine if there is a relationship between the performance score and the aptitude test score. Additionally, the manager wanted to investigate the influence that being a union member has on performance (coded as 1 union member and 0 nonmembers). An analysis of 20 plumbers was conducted. The resulting equation was Performance = 28.1 + 4.85 Aptitude + 20.5 Union. What is your interpretation of this analysis? A. These variables are not a good predictor of performance. B. Being a union member increases the typical performance by 20.5. C. The aptitude test is not a significant variable in this equation and needs to be eliminated as a variable. D. The company would be wise to discourage union membership. 46) Conducting a multiple regression analysis, the residual analysis is used to test the requirement that A. the variation in the residuals is the same for all fitted values of Y` B. the number of independent variables included in the analysis is correct C. prediction error is minimized D. the independent variables are the direct cause of the dependent variable 47) If there are four independent variables in a multiple regression equation, there are also four A. constant terms B. regression coefficients C. dependent variables D. Yintercepts 48) In a multiple regression ANOVA table, explained variation is represented by A. the correlation matrix B. the total sum of squares A. the feeds are the same A. the correlation matrix C. the regression coefficients D. the regression sum of squares 49) Given the trend equation Y' = 24 + 0.6t (base year = 2006), what would be the forecast value for 2010? A. 32 B. 27 C. 31 D. 25 50) The following linear trend equation was developed for the annual sales of the Tractor Manufacturing Company. Y' = 355 + 50t (in $ thousands). How much are sales increasing by? A. $6,000 per year B. $5,000 per month C. $500,000 per year D. $50,000 per year 51) If the least squares equation for Mary’s Clothing sales data from 2004 to 2008 is represented by the equation Y' = 12 + 1.1t (in $ millions). What is the value of t and the forecast for 2010? A. t = 10, y = 0.0 B. t = 6, y = 18.6 C. t = 7, y = 19.7 D. t = 1, y = 12.0 52) Big House Lumber Company, located in Dayton, Ohio, is preparing its annual business report. The manager has performed an analysis of the business annual sales starting in 2004 and concluding with 2009. This analysis produced an annual sales linear trend equation of Y' = 10.0989 + 0.14213t. The manager has been indicating to the company’s investors that sales in 2011 will exceed $11.5 million dollars. Is the manager statement accurate? A. The manager has interpreted the data correctly. B. The manager is providing the investors with a good prediction. C. The manager is in need of more information before making a prediction. D. The manager is overstating the annual sales. 53) Midwest State University Office of Registrar is reviewing the university’s enrollment for the past 10 years. It is know that there are seasonal variable that affects the university’s enrollment. To be better able to address business decisions that are affected by enrollment, an analysis of data was necessary. The school operates on a quarter system of enrollment starting typically with fall quarter and ending with summer quarter. The analysis of the data produced these four quarterly indexes. Fall Winter Spring Summer 1.2617 1.1896 1.040 0.4447 Which statement is correct based on this analysis? A. Winter and spring quarters should be treated differently. B. Summer quarter appears to be too low. C. The pattern is predictable and reasonable. D. Fall quarter needs to receive major attention to handle enrollment. 54) An analysis of graduates from a local business college was performed to determine if there was a relationship between GPA and starting salary of recent graduates. It was believed that a higher GPA would result in a higher starting salary. The analysis of data collected from recent graduates produced the following correlation matrix. Salary GPA 0.902 Business 0.911 0.851 Which statement is correct regarding the interpretation of the analysis? A. GPA is explaining about 50% of the variation. B. The belief that there is a relationship between GPA and starting salary is correct. C. Nothing can be stated based on this data analysis. D. The belief that there is a relationship between GPA and starting salary is incorrect.
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'