Straighterline MAT150 Business Statistics Graded Exam 4 (New Version August 2024)

Straighterline MAT150 Business Statistics Graded Exam 4 (New Version August 2024) We are a team of experts offering course/class attendance (including final proctored exams!!) for all Straighterline, Online ATI, HESI, NCLEX, Portage Learning, Sophia, Nursing, Business etc courses. We also write essays, discussion posts, research papers and school assignments. Should you need any of these services, Contact us via email: or : +1 (540) 753-5914. Guaranteed Passing! Question 1 Correct 5.00 points out of 5.00 Flag question Question text Several employees have submitted different methods of assembling a subassembly. Sample data for each method are: Minutes Required for Assembly Sample Number Lind's Method Szabo's Method Carl's Method Manley's Method 1 16.6 22.4 31.4 18.4 2 17.0 21.5 33.4 19.6 3 16.9 22.6 30.1 17.6 How many treatments are there? Select one: a. 4 b. 12 c. 0 d. 3 Question 2 Correct 5.00 points out of 5.00Flag question Question text The annual dividend rates for a random sample of 16 companies in three different industries, utilities, banking, and insurance, were recorded. The ANOVA comparing the mean annual dividend rate among three industries rejected the null hypothesis that the dividend rates were equal. The mean square error (MSE) was 3.36. The following table summarized the results: Utilities Banking Insurance Number Sampled 5 5 6 Mean Annual Dividend Rate 11.62 15.4 17.4 Based on the comparison between the mean annual dividend rate for companies in banking and utilities, the 95% confidence interval shows an interval of 1.28 to 6.28 for the difference. This result indicates that ________. Select one: a. the annual dividend rate in the banking industry is significantly more than the annual dividend rate in the utilities industry b. there is no significant difference between the two rates c. the interval contains a difference of 5.00 d. the annual dividend rate in the banking industry is significantly less than the annual dividend rate in the utilities industry Question 3 Incorrect 0.00 points out of 5.00 Flag question Question text Given the following ANOVA table for three treatments each with six observations: Source Sum of Squares df Mean square Treatment 1,116 Error 1,068Source Sum of Squares df Mean square Total 2,184 What is the critical value of F at the 5% level of significance? Select one: a. 3.20 b. 3.29 c. 3.68 d. 3.59 Question 4 Correct 5.00 points out of 5.00 Flag question Question text Two accounting professors decided to compare the variance of their grading procedures. To accomplish this, they each graded the same 10 exams, with the following results: Mean Grade Standard Deviation Professor 1 79.3 22.4 Professor 2 82.1 12.0 The calculated F ratio is ________. Select one: a. 5.35 b. 3.18 c. 1.87 d. 3.48 Question 5 Incorrect 0.00 points out of 5.00Flag question Question text Two accounting professors decided to compare the variance of their grading procedures. To accomplish this, they each graded the same 10 exams, with the following results: Mean Grade Standard Deviation Professor 1 79.3 22.4 Professor 2 82.1 12.0 At the 2% level of significance, what is the decision regarding the two variances being equal? Select one: a. Reject the null hypothesis and conclude the variances are the same. b. Reject the null hypothesis and conclude the variances are different. c. Fail to reject the null hypothesis. d. Fail to reject the null hypothesis and conclude the variances are different. Question 6 Correct 5.00 points out of 5.00 Flag question Question text What distribution does the F-distribution approach as the sample size increases? Select one: a. Binomial b. Normal c. Exponential d. Poisson Question 7 Correct 5.00 points out of 5.00Flag question Question text The regression equation is Ŷ = 30 + 2.56X, the sample size is 14, and the standard error of the slope is 0.97. What is the critical value to test whether the slope is positive at the 0.01 significance level? Select one: a. z = +2.326 b. t = +2.681 c. t = +3.055 d. z = ±2.576 Question 8 Correct 5.00 points out of 5.00 Flag question Question text A sales manager for an advertising agency believes there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. A regression analysis shows the following results. CoefficientsStandard Error t-Stat p-value Intercept −12.201 6.560 −1.860 0.100 Number of contacts 2.195 0.176 12.505 0.000 What is the regression equation? Select one: a. Ŷ = 2.195 − 12.201X b. Ŷ = 2.195 + 12.201X c. Ŷ = 12.201 + 2.195X d. Ŷ = −12.201 + 2.195X Question 9Correct 5.00 points out of 5.00 Flag question Question text A sales manager for an advertising agency believes that there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. What is the dependent variable? Select one: a. Number of contacts b. Salesperson c. Amount of sales dollars d. Sales manager Question 10 Correct 5.00 points out of 5.00 Flag question Question text A manager at a local bank analyzed the relationship between monthly salary and three independent variables: Length of service (measured in months), Gender (0 = female, 1 = male), and Job type (0 = clerical, 1 = technical). The following ANOVA summarizes the regression results. ANOVA Source of Variation df Sum of Squares Mean Square F Regression 3 1,004,346.771 334,782.257 5.96 Residual 26 1,461,134.596 56,197.48445 Total 29 2,465,481.367 CoefficientsStandard Error t-Stat p-value Intercept 784.92 322.25 2.44 0.02 Service 9.19 3.20 2.87 0.01CoefficientsStandard Error t-Stat p-value Gender 222.78 89.00 2.50 0.02 Job −28.21 89.61 −0.31 0.76 The level of significance is 0.05. Based on the hypothesis tests for the individual regression coefficients, ________. Select one: a. the intercept is the only significant variable in the model b. all the regression coefficients are not equal to zero c. "Job" is the only nonsignificant variable in the model d. "Service" is the only significant variable in the model Question 11 Correct 5.00 points out of 5.00 Flag question Question text A manager at a local bank analyzed the relationship between monthly salary and three independent variables: Length of service (measured in months), Gender (0 = female, 1 = male), and Job type (0 = clerical, 1 = technical). The following ANOVA summarizes the regression results. ANOVA Source of Variation df Sum of Squares Mean Square F Regression 3 1,004,346.771 334,782.257 5.96 Residual 26 1,461,134.596 56,197.48445 Total 29 2,465,481.367 CoefficientsStandard Error t-Stat p-value Intercept 784.92 322.25 2.44 0.02 Service 9.19 3.20 2.87 0.01 Gender 222.78 89.00 2.50 0.02 Job −28.21 89.61 −0.31 0.76 Based on the ANOVA and a 0.05 significance level, the global null hypothesis test of the multiple regression model ________.Select one: a. will be rejected and conclude that monthly salary is related to at least one of the independent variables b. will be rejected and conclude that monthly salary is related to all of the independent variables c. will not be rejected d. will show a high multiple coefficient of determination Question 12 Correct 5.00 points out of 5.00 Flag question Question text When expressed as a percentage, what is the range of values for multiple R2? Select one: a. 0% to +100% inclusive b. −100% to 0% inclusive c. −100% to +100% inclusive d. Unlimited range Question 13 Correct 5.00 points out of 5.00 Flag question Question text In multiple regression analysis, testing the global null hypothesis that all regression coefficients are zero is based on ________. Select one: a. an F-statistic b. a z-statistic c. a t-statistic d. a binomial distributionQuestion 14 Incorrect 0.00 points out of 5.00 Flag question Question text In an ANOVA table for a multiple regression analysis, the global test of significance is based on the ________. Select one: a. treatment mean square divided by the error variation b. block and error variation c. regression mean square divided by the mean square error d. treatment mean square and block mean square Question 15 Correct 5.00 points out of 5.00 Flag question Question text Which statistic is used to test a global hypothesis about a multiple regression equation? Select one: a. z-statistic b. F-statistic c. t-statistic d. X2-statistic Question 16 Correct 5.00 points out of 5.00Flag question Question text If 20 out of 50 students sampled live in a college dormitory, what is the estimated proportion of students at the university living in a dormitory? Select one: a. 0.60 b. 0.40 c. 0.50 d. 0.20 Question 17 Correct 5.00 points out of 5.00 Flag question Question text It is claimed that in a bushel of peaches, less than 10% are defective. A sample of 400 peaches is examined and 50 are found to be defective. What is the null hypothesis? Select one: a. H0: π ≠ 0.10 b. H0: π ≥ 0.10 c. H0: π < 0.10 d. H0: π ≤ 0.10 Question 18 Correct 5.00 points out of 5.00 Flag questionQuestion text It is claimed that in a bushel of peaches, fewer than 10% are defective. A sample of 400 peaches is examined and 82 are found to be defective. What is the z-test statistic? Select one: a. −6.978 b. +7.000 c. +0.205 d. +0.358 Question 19 Correct 5.00 points out of 5.00 Flag question Question text It is claimed that in a bushel of peaches, fewer than 10% are defective. A sample of 400 peaches is examined and 50 are found to be defective. What is the sample proportion? Select one: a. 40 b. 0.10 c. 0.125 d. 0.40 Question 20 Correct 5.00 points out of 5.00 Flag question Question text Based on the Nielsen ratings, the local CBS affiliate claims its 11 p.m. newscast reaches 54% of the viewing audience in the area. In a survey of 100 viewers, 49% indicated that they watch the late evening news on this local CBS station. What is the sample proportion? Select one:a. 0.49% b. 0.49 c. 0.54 d. 0.54% Question 21 Correct 5.00 points out of 5.00 Flag question Question text In a market test of a new chocolate raspberry coffee, a poll of 400 people from Dobbs Ferry showed 250 preferred the new coffee. In Irvington, 170 out of 350 people preferred the new coffee. To test the hypothesis that there is no difference in preferences between the two villages, what is the null hypothesis? Select one: a. H0: π1 ≠ π2 b. H0: π1 > π2 c. H0: π1 < π2 d. H0: π1 = π2 Question 22 Correct 5.00 points out of 5.00 Flag question Question text The claim that "40% of those persons who retired from an industrial job before the age of 60 would return to work if a suitable job was available" is to be investigated at the 0.02 significance level. If 74 out of the 200 workers sampled said they would return to work, what is our decision? Select one: a. Do not reject the null hypothesis because −0.866 lies in the region between +2.326 and −2.326.b. Do not reject the null hypothesis because −0.866 lies in the region between +2.576 and −2.576. c. Reject the null hypothesis because 37% is less than 40%. d. Do not reject the null hypothesis because 37% lies in the area between 0% and 40%. Question 23 Correct 5.00 points out of 5.00 Flag question Question text Students were sampled to determine their support for the legalization of gambling in their community. A sample of 150 students were asked whether or not they supported legalization of gambling, and the following results were obtained. Use a 5% level-of-significance. Do You Support Legal Gambling?Number of Students Yes, support 40 No, don't support 60 No opinion 50 What is the p-value? Select one: a. 0.07% b. 9.21% c. 5.0% d. 13.5% Question 24 Correct 5.00 points out of 5.00 Flag question Question text A question has these possible responses: excellent, very good, good, fair, and unsatisfactory. What are the degrees of freedom for a goodness-of-fit test to test the hypothesis that responses are uniformly distributed?Select one: a. 4 b. 0 c. 2 d. 5 Question 25 Correct 5.00 points out of 5.00 Flag question Question text When determining how well an observed set of frequencies fits an expected set of frequencies, what is the test statistic? Select one: a. t-statistic b. X2-statistic c. F-statistic d. z-statistic