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Study Resources (Business Management)

1. Every impromptu speech should be scripted and memorized.   2. The final task of an impromptu speech is to summarize the point of the   speech.   3. An effective meeting facilitator should begin the meeting on time.   4. An impromptu speech should be conversational in style.   5. An effective meeting facilitator should present unlimited agenda.
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  58. A study on the average minutes spent by students on internet usage is 300 with a standard deviation of 102. Answer the following questions assuming a bell-shaped distribution and using the empirical rule. a. What percentage of students use internet for more than 402 minutes?b. What percentage of students use internet.
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  38. Consider the clustered bar chart of the dashboard developed to monitor the performance of a call center: This chart allows the IT manager to  a. identify a particular type of problem by the call volume.  b. identify a particular type of problem by location.  c. identify different types of problems (Email, Internet, or Software) in the call.
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  60. Consider the following data on income and savings of a sample of residents in a locality: Income ($ thousands)Savings ($ thousands) 5010 5111 5213 5514 5615 5815 6016 6216 6517 6617 a. Compute the correlation coefficient. Is there a positive correlation between the income and savings? What is your interpretation?b. Show a scatter diagram of the relationship between the income and savings.   .
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  11. The data collected from the customers in restaurants about the quality of food is an example of a(n)  a. variable study.b. cross-sectional study.  c. experimental study.d. observational study. 12. When working with large spreadsheets with many rows of data, it can be helpful to ____________ the data to better find, view, or manage subsets of data.  a. splitb. sort and filter  c. chartd. manipulate 13. A.
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  21. The ______________________ shows the number of data items with values less than or equal to the upper class limit of each class.  a. cumulative frequency distributionb. frequency distribution  c. percent frequency distributiond. relative frequency distribution 22. The ________________ is a point estimate of the population mean for the variable of interest.  a. sample meanb. median  c. sampled. geometric mean 23. Compute the mean of the following.
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  11. A retail store owner offers a discount on product A and predicts that the customers would purchase products B and C in addition to product A. Identify the technique used to make such a prediction. a. Data queryb. Simulation c. Data miningd. Data dashboards 12. ____________________ are used in the pharmaceutical industry.
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  31.  Compute the 50th percentile for the following data. 10, 15, 17, 21, 25, 12, 16, 11, 13, 22  a. 18.6b. 13.3  c. 15.5d. 17.7 32. Compute the third quartile for the following data. 10, 15, 17, 21, 25, 12, 16, 11, 13, 22  a. 21.25b. 15.5  c. 21.5d. 11.75 33. Compute the IQR for the following data. 10, 15, 17, 21, 25, 12, 16, 11, 13, 22  a. 6.25b. 7.75  c. 5.14d. 9.50 34. A _____________________ determines.
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  46. The partial relative frequency distribution is given below: Group Relative Frequency 1 0.15 2 0.32 3 0.29 4     a. What is the relative frequency of group 4?b. The total sample size is 400. What is the frequency of group 4?c. Show the frequency distribution.d. Show the percent frequency distribution. ANSWER:     a. The relative frequency of group 4 is obtained as 1.00 –.
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  66. Below is a histogram for the number of days that it took Wyche Accounting to perform audits in the last quarter of last year. What is the relative frequency of the 21-24 bin? ?   ?  a. 0.05  b. 0.14  c. ?0.25  d. 2.5 67. Below is a histogram for the number of days that it took Wyche Accounting to perform audits in.
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  71. Select the histogram that is moderately skewed right. ? ?  ?  a. A  b. B  c. C  d. D 72. Which graph represents a negative linear relationship between x and y? ? ? ?  a. ?A  b. ?B  c. ?C  d. ?None of the graphs display a negative linear relationship. 73. Below is the data for the number of days that it took Wyche Accounting to perform audits in the last quarter of last year. ? 56,.
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  76. James’s manager asked him to sort the last names in the following list in descending order. What does this mean? ? Customer IDFirstLastSalesQuantityDiscountProfit CG-12520ClaireGute$  261.9620$       41.91 DV-13045DarrinVanHuff$    14.6220$       16.87 SO-20335SeanO'Donnell$  957.5850.45$   (383.03) BH-11710BrosinaHoffman$    48.8670$       14.17 AA-10480AndrewAllen$    25.5530.2$         5.44 IM- 15070IreneMaddox$  407.9830.2$     132.59 HP-14815HaroldPawlan$    68.8150.8$  (123.86) PK-19075PeteKriz$  665.8860$      13.32 AG-10270AlejandroGrove$    55.5020$        9.99 ZD-21925ZuschussDonatelli$      8.562              0              $        2.48 ? ?  a. ?The last names must be sorted.
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  48. A survey on the average pass percentage achieved by four of the top-ranked colleges of a city for five different years was conducted to rate the quality of teaching in each of these colleges. Colleges Year 1 Year 2 Year 3 Year 4 Year 5 College 1 65 67 63 68 70 College 2 70 75 77 82 75 College 3 88 95 90 97 98 College 4 55 57 53 59 55 a. Construct a line chart for the time.
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  31. A better understanding of consumer behavior through analytics directly leads to a. more profits.b. better pricing strategies. c. reduced advertising costs.d. reduced risk. 32. A light bulb manufacturer uses descriptive analytics a. to present supply chain to managers visually. b. to achieve efficiency in delivery of goods. c. to schedule staff and vehicle for delivery. d..
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  40. Consider the following table and the line chart on the temperatures in 11 different states of the United States. States Temperature (degrees F) Illinois 76 North Carolina 79 Florida 80 Indiana 80 New Jersey 85 Ohio 83 Pennsylvania 86 Texas 90 Virginia 87 Michigan 91 New York 85   a. What are the problems with the layout and display of this line chart?b. Create a new line chart for the given data. Format the chart to.
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47. Consider the following data on 30 different investments and their maturity values after 15 years. Investment ($) Future value ($) 1500 3119 2000 4158 2200 4574 2480 5156 2850 5925 3250 6757 3560 7401 3890 8088 4180 8690 4390 9127 4550 9460 4800 9979 5150 10707 5320 11060 5510 11455 5760 11975 6140 12765 6300 13098 6480 13472 6590 13701 6712 13954 6900 14345 7110 14782 7480 15551 7590 15780 7670 15946 7700 16008 7840 16299 8010 16653 8500 17671   a. Prepare a scatter diagram to show the relationship between the variables Investment and Future value. Comment on any relationship between the variables.b. Create a trendline for the relationship between Investment and Future.
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  55. The average time a customer service executive takes to resolve an issue on a mobile handset is 26.4 minutes. The average times taken to resolve the issue by a sample of 15 such executives are shown below. NameTime (in minutes) Jack25.3 Samantha28.2 Richard26.8 Steve29.5 Mary22.4 Sergio21.7 John24.3 Michelle22.4 Linda26.8 Mark29.4 Matt23.6 Polly26.4 Sheila23.5 Jeff26.8 Gerald28.1 a. What is the mean resolution time?b. What is the median resolution.
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  21. A two-dimensional graph representing the data using different shades of color to indicate magnitude is called a  a. heat map.b. bubble chart.  c. column chart.d. pie chart. 22. To avoid problems in interpreting the differences in color in a heat map, ____________ can be added.  a. a bubble chartb. a pie chart  c. a scatter chartd. sparklines 23. An effective display of trend and magnitude is.
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  11. The following image is a ?   ?  a. sparkline.b. trendline.  c. gridline.d. line chart. 12. DJ needs to display data over time. Which of the following charts should he use?  a. Scatter chartb. Pie chart  c. Bar chartd. Line chart 13. A time series plot is also known as a  a. boxplot.b. frequency graph.  c. dot plotd. line chart. 14. A line chart that has no axes but is used to provide information on overall trends.
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46. The data on the distance walked per week by 20 people of different age groups are given in the table below. Age Distance walked/week 18 25 20 22 21 20 25 23 26 18 29 15 38 19 34 16 42 14 23 21 32 24 45 13 50 11 53 9 44 10 19 28 28 26 35 17 49 12 27 27 a. Create a scatter chart for these 20 observations.b. Fit a linear trendline to the 20 observations. What can you say about the relationship between the two quantitative variables?   .
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  47. A survey on the most preferred newspaper in the USA listed The New York Times(TNYT), Washington Post(WP), Daily News(DN), New York Post(NYP), and Los Angeles Times (LAT) as the top five most preferred newspapers. The table below shows the preferences of 50 citizens.   TNYTWPNYPWPTNYT DNTNYTLATWPWP DNLATTNYTTNYTNYP NYPTNYTWPLATNYP LATWPDNWPLAT WPDNTNYTDNDN TNYTTNYTLATTNYTNYP LATLATNYPWPDN WPWPTNYTDNTNYT TNYTDNNYPTNYTWP a. Are these data categorical or quantitative?b. Provide.
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  52. Suppose that you make a fixed deposit of $1,000 in Bank X and $500 in Bank Y. The value of each investment at the end of each subsequent year is provided in the table. ? YearBank X ($)Bank Y ($) 11,320560 21,510620 31,750680 42,090740 52,240790 62,470820 72,830870 83,220910 93,450950 103,690990 ? Which of the two banks provides a better return over this time period?   .
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  21. Utility theory is the study of the __________________ or relative desirability of a particular outcome that reflects the decision maker’s attitude toward a collection of factors, such as profit, loss, and risk. a. total worth b. total cost c. feasibility d. financial wellness 22. _____________________ refers to the technology that allows data, collected from.
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  39. The following table is an example of the profit made by Hydro America, a water servicing company, for five different years. Year Total revenue ($) Cost of revenue ($) Gross profit ($) 2011 62723201 26256000 36467201 2012 67177612 37026005 30151607 2013 72648252 35054123 37594129 2014 71225185 35187462 36037723 2015 75847373 39298243 36549130 Reformat the table to improve readability and to help the manager identify the year with the highest profit.   .
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  61. The College Board originally scaled SAT scores so that the scores for each section were approximately normally distributed with a mean of 500 and a standard deviation of 100. Assuming scores follow a bell-shaped distribution, use the empirical rule to find the percentage of students who scored greater than 700.  a. 97.5%  b. 95%  c. ?2.5%  d. ?5% 62. The.
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1. Conversations can lead to a relationship.   2. The second stage of BRIDGE is the relating stage.   3. Relationships do not require flexibility.   4. The fourth stage of encouraging growth in others is to motivate the dreamer.   5. Relationships have a circular nature in their stages of experience.   6. Relating is the stage where you.
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  49. The manager of an automobile showroom studied the time spent by each salesperson interacting with the customer in a month apart from the other jobs assigned to them. The data in hours are given below. 1713 1816 2024 1519 1912 1016 2627 1323 1715 2420 1421 2624 Using classes 10-13, 14-17, and so on, show: a. The frequency distribution.b. The relative frequency distribution.c. The.
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  41. The data on the scores obtained by students in five different entrance exams have been collected from 50 colleges and they are provided below. Create a PivotTable in Excel to display the number of students who took each exam and the average score for students in each exam. Exams Scores Exams Scores SAT 520 MCAT 487 ACT 400 GRE 267 MCAT 580 GMAT 455 GRE 280 SAT 528 GMAT 540 GMAT 536 ACT 356 SAT 469 MCAT 520 GRE 455 GRE 355 MCAT 520 GMAT 480 GRE 489 SAT 574 ACT 455 GRE 396 MCAT 589 GMAT 450 GRE 500 ACT 420 GMAT 500 MCAT 560 SAT 528 GRE 297 GMAT 480 GMAT 520 SAT 475 SAT 489 GMAT 570 GMAT 500 ACT 480 SAT 566 MCAT 567 GRE 451 GRE 546 GMAT 460 GMAT 544 ACT 422 SAT 420 MCAT 550 GMAT 453 GRE 310 SAT 510 ACT 384 GRE 473   a. Which exam did most.
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  56. Suppose that the average time an employee takes to reach the office is 35 minutes. To address the issue of late comers, the mode of transport chosen by the employee is tracked: private transport (two-wheelers and four-wheelers) and public transport. The data on the average time (in minutes) taken using.
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  54. Suppose that the average time an employee takes to reach the office is 35 minutes. To address the issue of late comers, the mode of transport chosen by the employee is tracked: private transport (two-wheelers and four-wheelers) and public transport. The data on the average time (in minutes) taken using.
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1. Data-ink is the ink used in a table or chart that  a. does not help in conveying the data to the audience.  b. helps in presenting data when the audience need not know exact values.  c. is necessary to convey the meaning of the data to the audience.  d. increases the non-data-ink ratio. 2. Deleting the grid lines in a.
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1. A quantity of interest that can take on different values is known as a(n)  a. variable.b. parameter.  c. sample.d. observation. 2. A set of values corresponding to a set of variables is defined as a(n)  a. quantity.b. event.  c. factor.d. observation. 3. The difference in a variable measured over observations (time, customers, items, etc.) is known as  a. observed differences.b. variation.  c. variable change.d. descriptive analytics. 4. _______________ act(s) as a representative of the.
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    1.Which of the following is not a guideline for impromptu speaking? a.Keep it to one point. b.Keep it organized. c.Keep it natural. d.Keep it formal.   2.Which of the following is not a guideline for effective meetings? a.Distribute the agenda during the meeting. b.Remain impartial. c.End the meeting on time. d.Compliment often.   3.Which of the following is not a guideline for.
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  31. A ______________ is used for examining data with more than two variables, and it includes a different vertical axis for each variable.  a. scatter plotb. PivotChart  c. column chartd. parallel-coordinates plot 32. A ______________ is useful for visualizing hierarchical data along multiple dimensions.  a. heat mapb. hierarchical map  c. treemapd. map of multiple hierarchy 33. _____ merges maps and statistics to present data collected over different.
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  42. A local search service company surveys on the number of service centers available in three major cities for different brands of automobiles with an objective to improve the services to its customers. The data on the 20 automobile brands and the number of service centers are given below: Brands Number of service.
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  41. A data ______________ is a request to obtain information with certain characteristics from a database. 42. Business analytics is the __________________________ process of transforming data into insight for making better decisions. 43. A data __________________ is trained in both computer science and statistics and knows how to effectively process and analyze.
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  57. The results of a survey showed that, on average, children spend 5.6 hours at PlayStation per week. Suppose that the standard deviation is 1.7 hours and that the number of hours at PlayStation follows a bell-shaped distribution. a. Use the empirical rule to calculate the percentage of children who spend between.
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43. A summary on commodities below lists the change in price on a particular day for each commodity belonging to three categories - Base Metals, Precious Metals, and Agricultural & Cattle Futures. Commodity Summary Commodity Type of Commodity Price Change (%) Aluminu Base metals 1700 0.0750 Gold Precious metals 1229 -0.2300 Corn Agricultural & Cattle Futures 400 0.0125 Silver Precious metals 1975 -0.1800 Aluminu Base metals 1750 -0.1000 Wheat Agricultural & Cattle Futures 640 -0.0425 Soybeans Agricultural & Cattle Futures 1300 -0.1250 Copper Base metals 7012 -0.1700 Platinum Precious metals 1357 -0.1900 Cocoa Agricultural &.
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  44. The income levels vary by race and educational attainment. To examine this inequality in the income, data have been collected for seven different years on the median income earned by an individual based on the race and education. Year Racial Demographic Educational attainment Median Income 2003 White High School Graduate $33,405 2003 White Some college $40,325 2003 White Bachelor's degree $55,225 2003 White Master’s degree $67,295 2003 White Doctorate degree $77,521 2003 Black High School Graduate $25,741 2003 Black Some college $30,517 2003 Black Bachelor's.
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45. Consider a study on the number of accidents that occurred in Ten U.S. states in different cities for three consecutive years. Create a PivotTable in Excel to answer the following questions. The PivotTable should group the number of accidents into yearly bins and display the sum of accidents that occurred each year.
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  1.____________ are those people you are familiar with but do not experience a    friendship with. a.Acquaintances b.Friends c.Intimates d.None of the above   2.________ is the stage where you experience conflict. a.Beginning b.Relating c.Intimate d.Diverging   3._________ is the stage where you help the let the person explore their dream. a.Discuss their dream b.Experiment with their dream c.Acknowledge their experimental success d.Motivate the dreamer   4.________ is the.
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1. The decisions concerning an organization’s goals and future plans are called a. financial decisions.b. tactical decisions. c. strategic decisions.d. operational decisions. 2. Tactical decisions define a. the day-to-day activities of the organization. b. the goals and plans of the organization. c. the domain of operations managers, who are close to the customer. d. the steps taken.
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  59. Eight observations taken for two variables are as follows: 1135 1332 1726 1825 2220 2417 2611 2810 a. Develop a scatter diagram with x on the horizontal axis.b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables?c. Compute and interpret the sample covariance.d. Compute and interpret the sample correlation coefficient.   .
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