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QMB 3200 | 90+ Exam Questions with Solutions on Sampling, Probability, Estimators, Distribution | Florida International University

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This exam preparation guide for QMB 3200 – Quantitative Methods in Business at Florida International University (academic year 2025/2026) contains over 90 multiple-choice questions with verified answers, covering a wide range of core quantitative topics. The content focuses on high-priority exam material such as probability rules, sampling methods, standard deviation and variance, standard error, point and interval estimation, normal and t-distributions, and types of statistical errors (Type I and II). Included are detailed questions on descriptive vs. inferential statistics, confidence intervals, expected values, z-scores, p-values, discrete and continuous random variables, data types (categorical vs. quantitative), and Excel functions for probability and descriptive analytics. Several questions are paired with data exhibits and real-world scenarios to strengthen analytical thinking and application of concepts. This document is tailored for students preparing for exams or reviews in quantitative, statistical, and data-driven fields. Recommended for students in: – Business and Management – Finance and Accounting – Data Analytics and Research Methods – Economics and Decision Sciences – Applied Statistics Keywords: QMB 3200, sampling methods, point estimator, confidence interval, hypothesis testing, standard deviation, standard error, z-score, t-distribution, descriptive statistics, inferential statistics, probability distribution, variance, statistical inference, categorical data, discrete variables, continuous variables, Excel formulas, Florida International University

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Uploaded on
January 11, 2026
Number of pages
16
Written in
2025/2026
Type
Exam (elaborations)
Contains
Questions & answers

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QMB3200 2025/2026 Exam Questions
with 100% Correct Answers | Latest
Update



The standard deviation of a point estimator is the - 🧠ANSWER ✔✔standard

error


Cluster sampling is - 🧠ANSWER ✔✔a probability sampling method


The interquartile range is the difference between the - 🧠ANSWER ✔✔first

and third quartiles

A __________ can be used to graphically present quantitative data. -

🧠ANSWER ✔✔both a histogram and a stem-and-leaf display are correct

,The measure of variability easiest to compute, but seldom used as the only

measure, is the - 🧠ANSWER ✔✔Range


As the sample size increases, the variability among the sample means -

🧠ANSWER ✔✔decreases


In a standard normal distribution, the range of values of z is from -

🧠ANSWER ✔✔minus infinity to infinity


The t value with a 95% confidence and 24 degrees of freedom is -

🧠ANSWER ✔✔2.064


The number of customers that enter a store during one day is an example

of - 🧠ANSWER ✔✔a discrete random variable


Quantitative data that measure how many are ________; quantitative data

that measure how much are ________. - 🧠ANSWER ✔✔discrete;

continuous

Exhibit 2-3

The number of sick days taken (per month) by 200 factory workers is

summarized below.

, Number of Days

Frequency




0-5

120




6 - 10

65




11 - 15

14




16 - 20

1




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