Final Exam Study Guide
Final Exam Study Guide
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Date Created: 11/15/15
Final Examination Study Guide 1 ONT351 Version 3 ONT351 Final Examination Study Guide This study guide prepares you for the Final Examination you complete in the last week of the course It contains practice questions which are related to each week s objectives Highlight the correct response and then refer to the answer key at the end of this Study Guide to check your answers Use each week s questions as a selftest at the start of a new week to reflect on the previous week s concepts When you come across concepts that you are unfamiliar with refer to the Student Guide for that particular week Week One Understanding the Meaning of Statistics Objective Explain the role of statistics in business research and its application in business decision making 1 When TV advertisements report quot2 out of 3 dentists surveyed indicated they would recommend Brand X toothpaste to their patientsquot an informed consumer may question the conclusion because a the sample was only 5 dentists b the sample of dentists is clearly explained c the advertisement does not include the total number of dentists surveyed d the conclusion is not illustrated with a graph 2 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 a The instructor39s performance was great b The instructor39s performance was inferior c Most students rated the instructor as poor or average d No conclusions can be made Objective Differentiate between qualitative and quantitative variables 3 Which of the following is an example of a continuous variable a Family income b Number of students in a statistics class c Zip codes of shoppers d Rankings of baseball teams in a league 4 What type of variable is the number of gallons of gasoline pumped by a filling station during a day a Qualitative b Continuous c Attribute d Discrete Objective Differentiate among the four levels of measurement and how they are used in data collection for research 5 What level of measurement is the price of an admission ticket to a movie theater a Nominal Final Examination Study Guide 2 ONT351 Version 3 b Ordinal c Interval d Ratio 6 What level of measurement is a bar code a Ratio b Ordinal c Interval d Nominal Week Two Describing Data Objective Present qualitative and quantitative data in tables and charts 7 When data is collected using a quantitative ratio variable what is true about a frequency distribution that summarizes the data a Upper and lower class limits must be calculated b A pie chart can be used to summarize the data c Number of classes is equal to the number of variable values d The quot5 to the k rulequot can be applied 8 When data is collected using a qualitative nominal variable what is true about a frequency distribution that summarizes the data a Upper and lower class limits must be calculated b A pie chart can be used to summarize the data c Number of classes is equal to the number of variable values plus 2 d The quot5 to the k rulequot can be applied 9 Refer to the following breakdown of responses to a survey of room cleanliness in a hotel Nut SEItiS dd 2f Satisfied Il fIliglltlfi satisfied 2i What percent of the responses indicated that customers were satisfied a 20 b 25 c 50 d 100 Objective Calculate central tendency and dispersion 10 What is the relationship among the mean median and mode in a symmetric distribution a They are all equal b The mean is always the smallest value c The mean is always the largest value d The mode is the largest value 11 For a data set half of the observations are always greater than the a median b mode c mean d standard deviation Final Examination Study Guide ONT351 Version 3 Objective Describe the shape of data distribution in charts box plot stem and leaf plot dot plot and so on 12 What statistics are needed to draw a box plot a Minimum maximum median and first and third quartiles b Median mean and standard deviation c A median and an interquartile range d A mean and a standard deviation 13 A box plot shows a the mean and variance b the relative symmetry of a distribution for a set of data c the percentiles of a distribution d the deciles of a distribution 14 In a contingency table we describe the relationship between a two variables measured at the ordinal or nominal level b two variables one measured as an ordinal variable and the other as a ratio variable c two variables measured at the interval or ratio level d a variable measure on the interval or ratio level and time Week Three Probability Concepts and Continuous Probability Objective Explain discrete and continuous probability rules of probability and classical empirical and subjective approaches to probability 15 A firm offers routine physical examinations as part of a health service program for its employees The exams showed that 8 of the employees needed corrective shoes 15 needed major dental work and 3 needed both corrective shoes and major dental work What is the probability that an employee selected at random will need either corrective shoes or major dental work a 020 b 025 c 050 d 100 16 A survey of top executives revealed that 35 of them regularly read Time magazine 20 read Newsweek and 40 read US News amp World Report Ten percent read both Time and US News amp World Report What is the probability that a particular top executive reads either Time or U 8 News amp World Report regularly a 085 b 006 c 100 d 065 Objective Describe characteristics of standard normal distribution 17 The upper and lower limits of a uniform probability distribution are a positive and negative infinity b plus and minus three standard deviations c 0 and 1 d the maximum and minimum values of the random variable 3 Final Examination Study Guide 4 ONT351 Version 3 18 What is an important similarity between the uniform and normal probability distributions a The mean median and mode are all equal b The mean and median are equal c They are negatively skewed d About 68 of all observations are within one standard deviation of the mean 19 What is a normal distribution with a mean of 0 and a standard deviation of 1 called a Frequency distribution b zscore c Standard normal distribution d Binomial probability distribution Objective Calculate area between two data values and area above or below a certain value 20 What is the area under the normal curve between 2 00 and z 179 a 04633 b 00367 c 09599 d 00401 21 What is the area under the normal curve between 2 00 and z 20 a 10000 b 07408 c 01359 d 04772 Week Four Hypothesis Testing Objective Apply the steps in testing a research hypothesis 22 A machine is set to fill the small size packages of MampM s candies with 56 candies per bag A sample revealed 3 bags of 56 2 bags of 57 1 bag of 55 and 2 bags of 58 How many degrees of freedom are there a 9 b 1 c 8 d 7 23 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 a sample size of 25 a 1708 b 1711 c 2060 d 2064 24 What is a Type II error a Accepting a false null hypothesis b Rejecting a false null hypothesis c Accepting a false alternate hypothesis d Rejecting a false alternate hypothesis Objective Compare the means of two or more groups Final Examination Study Guide 5 ONT351 Version 3 25 When is it appropriate to use the paired difference t test 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 26 Using two independent samples we test for a hypothesized difference between two population means The population standard deviations are equal The number in the first sample is 15 and the number in the second sample is 12 How many degrees of freedom are associated with the critical value a 24 b 25 c 26 d 27 Objective Calculate the correlation between two variables 27 What does a coefficient of correlation of 070 infer a There is almost no correlation because 070 is close to 10 b 70 of the variation in one variable is explained by the other c Coefficient of determination is 049 d Coefficient of nondetermination is 030 28 What is the range of values for a coefficient of correlation a 0 to 10 b 3 to 3 inclusive c 10 to 10 inclusive d Unlimited range Week Five Integrating Research and Statistics Objective Select an appropriate statistical test for analysis research data based on research questions and data type 29 The Pearson productmoment correlation coefficient r requires that variables are a measured with an interval scale b a continuous variable c measured with an ordinal scale d a qualitative variable Objective Interpret data analysis results to reach conclusions 30 If we are performing a twotailed test of whether u 50 what would be the probability of detecting a shift of the mean to 65 from the mean to 55 a Less than 05 b Greater than 05 c Equal to 05 d Cannot be determined Final Examination Study Guide 6 ONT351 Version 3 Answer Key NQSNPSDNT 61 owoowogtwoogtowoogtgtwgtgtgtowgtoowgtoo
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