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Study Resources (Business Management)

1. Probability is? the a. number of successes divided by the number of failures. b. numerical measure likelihood that an outcome occurs. c. chance that an event will not happen. d. number of successes divided by the standard deviation of the distribution.     2. A(n) ________________ is a description of how probabilities are distributed over the.
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    41. The prespecified value of the independent variable at which its relationship with the dependent variable changes in a piecewise linear regression model is referred to as the a. milestone. b. knot. c. tipping point. d. watchpoint.     42. _____________ refers to the scenario in which the relationship between the dependent variable and one.
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    21. In a normal? distribution, which is? greater, the mean or the? median? ?? a. Mean b. Median c. Neither (they are equal) d. Cannot be determined with the information provided     22. The center of a normal curve is a. always equal to zero. b. the mean of the distribution. c. always a positive number. d. equal to the standard.
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    49. The contingency table below represents employees of a communications company classified by age and field of expertise. What is the probability that a randomly selected employee age 35-45 years old has business expertise? ? Under 35 35-44 45+ Total Engineering 8,399 8,663 7,072 24,134 Business 14,515 14,988 26,683 56,186 Education 6,738 5,657 8,669 21,064 Liberal.
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    31. The scatter chart below displays the residuals verses the dependent variable, t. Which of the following conclusions can be drawn based upon this scatter chart?? a. model is time-invariant. b. model captures the relationship between the variables accurately. c. residuals are not independent. d. residuals are normally distributed.     32. The scatter chart below displays.
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    67. Give an estimated simple linear regression equation of = 46.2 + 589.2x with a coefficient of determination R^2 of 0.7523, interpret the coefficient of determination for this equation. ?   68. The multiple regression model represents pricing for residential housing in a certain market. Predicted Price = 19,856.56 + 6985.25 bedrooms +.
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    21. In interval estimation, as the sample size becomes larger, the interval estimate a. ?becomes narrower. b. ?becomes wider. c. remains the same, since the mean is not changing. d. gets closer to 1.96.     22. A statistics teacher started class one day by drawing the names of 10 students out of a hat and asked.
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    31. A null and alternative hypothesis for a one proportion z test are given as H0: p = 0.8, Ha: p < 0.8. This hypothesis test is a. lower-tailed. b. upper-tailed. c. two-tailed. d. these hypotheses are incorrectly stated.     32. A pizza shop advertises that they deliver in 30 minutes or less or it is.
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    56. ____________________ clustering method defines the similarity between two clusters as the similarity of the pair of observations (one from each cluster) that are the most different. ?     57. ___________________uses the averaging concept of cluster centroids to define between-cluster similarity. ? ?     58. Platinum Gym has 10,000 gyms members out of which 1500 memberships included.
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    41. Determine whether the alternative hypothesis is left-tailed, right-tailed, or two-tailed: Ho: μ = 11 Ha: μ > 11 a. ?left-tailed. b. right-tailed. c. ?two-tailed. d. there is not enough information to make a determination.     42. Which statement is NOT true? ?? a. The greater the level of confidence, the more likely it is that the confidence.
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1. A forecast is defined as a(n) a. prediction of future values of a time series. b. quantitative method used when historical data on the variable of interest are either unavailable or not applicable. c. set of observations on a variable measured at successive points in time. d. outcome of a random experiment.       2. A.
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  43. Consider the following time series data. Year Value 1 234 2 287 3 255 4 310 5 298 6 250 7 456 8 412 9 525 10 436 Using the average of all the historical data as a forecast for the next year, compute the following measures of forecast accuracy.a. Mean absolute errorb. Mean squared errorc. Mean absolute percentage errord. What.
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    11. In the probability table below, which value is a marginal probability? ?? Completed Obstacle Course Level No Yes Total Challenging 0.4 0.3 0.7 Easy 0.1 0.2 0.3 Total 0.5 0.5 1 a. 0.1 b. 1 c. 0.5 d. 0.4     12. A variable that can only take on specific numeric values is called a ?? a. categorical variable. b. discrete random variable. c. continuous random.
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    21. A positive forecast error indicates that the forecasting method ________ the dependent variable. a. overestimated b. underestimated c. accurately estimated d. closely approximated       22. Which of the following measures of forecast accuracy is susceptible to the problem of positive and negative forecast errors offsetting one another? a. Mean absolute error b. Mean forecast error c. Mean squared.
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    41. For causal modeling, _______________ are used to detect linear or nonlinear relationships between the independent and dependent variables. a. descriptive statistics on the data b. scatter charts c. contingency tables d. pie charts       42. Consider the following time series data. Year Value 1 234 2 287 3 255 4 310 5 298 6 250 7 456 8 412 9 525 10 436   Using the.
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        51. The data listed below is the average personal income and personal consumption expenditures based on the survey conducted in the year 1995 to 2009 in U.S. Personal income ($) Personal consumptionexpenditures ($) 23,310 18,714 24,444 19,569 25,657 20,414 27,260 21,434 28,336 22,738 30,317 24,227 31,162 25,074 31,448 25,865 32,282 26,848 33,872 28,228 35,423 29,818 37,723 31,210 39,418 32,551 40,156 33,273 39,113 32,853 a. Develop a scatter chart.
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    11. In a simple linear regression analysis the quantity that gives the amount by which the dependent variable changes for a unit change in the independent variable is called the a. coefficient of determination. b. slope of the regression line. c. correlation coefficient. d. standard error.     12. A ___________ is used to visualize.
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    65. A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below. ? No. of units produced Cost/unit 20 37.7158 35 35.0158 50 30.8158 65 25.8158 80 20.0364 95 16.9064 110 16.3766 120 13.8564 135 13.9696 150 13.847 ? ? ? a. Develop an.
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    11. The basis for using a normal probability distribution to approximate the sampling distribution of the sample means and population mean is a. ?Chebyshev’s theorem. b. ?the empirical rule. c. ?the central limit theorem. d. Bayes’ theorem.     12. When the expected? value of the point estimator is equal to the population parameter it estimates, it.
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    51. The medical director of a company looks at the medical records of all 50 employees and finds that the mean systolic blood pressure for these employees is 126.07.The value of 126.07 is symbolized by. ? ?   52. The sample mean is the point estimator of what population parameter? ?   53. Sample statistics, such as.
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    52. The data listed below is the average personal income and personal consumption expenditures based on the survey conducted in the year 1995 to 2009 in U.S. Personal income ($) Personal consumptionexpenditures ($) 23,310 18,714 24,444 19,569 25,657 20,414 27,260 21,434 28,336 22,738 30,317 24,227 31,162 25,074 31,448 25,865 32,282 26,848 33,872 28,228 35,423 29,818 37,723 31,210 39,418 32,551 40,156 33,273 39,113 32,853 a. What is the 95.
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    47. Listed below is data on profit and market capitalization for a sample of 15 different firms in U.S. Profits ($ millions) y Market Capitalization ($ millions) x 296.2 1,936.9 –25 1,171.8 4,085 55,135.8 6,558 97,417.2 12,525 95,198.9 3,394 53,579.7 442.8 12,466.3 633.1 8,894.3 3,528 65,872.4 2,698 25,661.3 1,200.65 19,854.7 11.987 195,643.8 641.8 10,447.8 5,043 66,695.5 5,206 53,558.4 a. Develop a scatter chart for the above data..
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    45. Consider the following time series data. Year Value 1 234 2 287 3 255 4 310 5 298 6 250 7 302 8 267 9 225 10 336   a. Construct a time series plot. What type of pattern exists in the data?b. Develop a three-year moving average for this time series. Compute MSE and a forecast for the year 11.     .
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    31. ______________________ uses a weighted average of past time series values as the forecast. a. The qualitative method b. Exponential smoothing c. Correlation analysis d. The causal model       32. With reference to exponential forecasting models, a parameter that provides the weight given to the most recent time series value in the calculation of.
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    53. a. Using the data given, apply hierarchical clustering with 10 clusters using LandValue ($), BuildingValue ($), Acres, Age, and Price ($) as variables. Be sure to Normalize input data in Step 2 of the XLMiner Hierarchical Clustering procedure, and specify complete linkage as the clustering method. Analyze the resulting clusters by.
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  55. A research team in at the Gonzaga University is interested in predicting a student's overall university GPA if his/her high school GPA is known. Assume that a random sample of 20 students is selected from the data listed below. High School GPA University GPA 3.65 3.72 3.08 3.21 3.12 3 2.87 2.67 3.34 3.57 2.7 2.97 3.25.
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    To examine the local housing market in a particular region, a sample of 120 homes sold during a year is collected. The data are given below.   LandValue ($) BuildingValue ($) Acres Age Price ($) 18100 92500 0.5 53.9 114885 23600 152700 0.22 19.7 180895 25900 134300 0.3 15.9 162038 22100 129600 0.23 41 154496 23900 168700.
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1. _____ is a statistical procedure used to develop an equation showing how two variables are related. a. Regression analysis b. Data mining c. Time series analysis d. Factor analysis     2. A regression analysis involving one independent variable and one dependent variable is referred to as a a. factor analysis. b. time series analysis. c..
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    48. A research center is interested in investigating about height and age of children who are between 5 to 9 years old. In order to do this, a sample of 15 children is selected and the data is given below. Age (in years) Height (inches) 7 47.3 8 48.8 5 41.3 8 50.4 8 51 7 47.1 7 46.9 7.
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    64. A production company is studying the relationship between the average cost/unit and number of units produced in a batch. A sample of 10 batches is selected and the data is given below. ? No. of units produced Cost/unit 20 37.7158 35 35.0158 50 30.8158 65 25.8158 80 20.0364 95 16.9064 110 16.3766 120 13.8564 135 13.9696 150 13.847 a. Develop a scatter.
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    31. What is the total area under the normal distribution curve? ?? a. It depends upon the mean and standard deviation b. It must be calculated c. 1 d. 100     32. The triangular distribution is a good model for____________ distributions. ?? a. uniform b. skewed c. normal d. normal   ?   33. Fast food restaurants pride themselves in being able to fill orders quickly..
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