BUSINESS STATISTICS ACTUAL EXAM SCRIPT QUESTIONS
AND ANSWERS SURE A+
✔✔t distribution with df = 80. - ✔✔Consider independent simple random samples that
are taken to test the difference between the means of two populations. The variances of
the populations are unknown, but are assumed to be equal. The sample sizes of each
population are n1 = 37 and n2 = 45. The appropriate distribution to use is the:
✔✔+2.132 - ✔✔Accounting procedures allow a business to evaluate their inventory
costs based on two methods: LIFO (Last In First Out) or FIFO (First In First Out). A
manufacturer evaluated its finished goods inventory (in $000s) for five products with the
LIFO and FIFO methods. To analyze the difference, they computed (FIFO - LIFO) for
each product. Based on the following results, and testing if the LIFO method result in a
lower cost of inventory than the FIFO method. If you use the 5% level of significance,
what is the critical t value?
✔✔H0: µ1 - µ2 = 0 - ✔✔When testing the hypothesized equality of two population
means, the implied null hypothesis is ____________.
✔✔Fail to reject the null hypothesis. - ✔✔A company is researching the effectiveness of
a new website design to decrease the time to access a website. Five website users
were randomly selected, and their times (in seconds) to access the website with the old
and new designs were recorded. To compare the times, they computed (new website
design time - old website design time). The results follow. For a 0.01 significance level,
what is the decision regarding the hypothesis that the training was effective in improving
customer relationships?
✔✔4 - ✔✔Accounting procedures allow a business to evaluate their inventory costs
based on two methods: LIFO (Last In First Out) or FIFO (First In First Out). A
manufacturer evaluated its finished goods inventory (in $000s) for five products with the
LIFO and FIFO methods. To analyze the difference, they computed (FIFO - LIFO) for
each product. Based on the following results, and testing if the LIFO method result in a
lower cost of inventory than the FIFO method. What are the degrees of freedom?
✔✔-3.299 - ✔✔A national manufacturer of ball bearings is experimenting with two
different processes for producing precision ball bearings. It is important that the
diameters be as close as possible to an industry standard. The output from each
process is sampled and the average error from the industry standard is measured in
millimeters. The results are shown on the table. The researcher is interested in
determining whether there is evidence that the two processes yield different average
errors. The population standard deviations are unknown but are assumed equal. What
is the computed value of t?
✔✔2.4 - ✔✔A recent study focused on the number of times men and women send a
Twitter message in a day. The information is summarized next. At the .01 significance
,level, testing if there a difference in the mean number of times men and women send a
Twitter message in a day. What is the value of the test statistic for this hypothesis test?
✔✔±2.797 - ✔✔A national manufacturer of ball bearings is experimenting with two
different processes for producing precision ball bearings. It is important that the
diameters be as close as possible to an industry standard. The output from each
process is sampled and the average error from the industry standard is measured in
millimeters. The results are shown on the table. The researcher is interested in
determining whether there is evidence that the two processes yield different average
errors. The population standard deviations are unknown but assumed equal. What is
the critical t value at the 1% level of significance?
✔✔3.37 - ✔✔The results of a mathematics placement exam at two different campuses
of Mercy College follow: What is the computed value of the test statistic?
✔✔H0: µd ≥ 0 - ✔✔Accounting procedures allow a business to evaluate their inventory
costs based on two methods: LIFO (Last In First Out) or FIFO (First In First Out). A
manufacturer evaluated its finished goods inventory (in $000s) for five products with the
LIFO and FIFO methods. To analyze the difference, they computed (FIFO - LIFO) for
each product. Based on the following results, the question if the LIFO method results in
a lower cost of inventory than the FIFO method. What is the alternate hypothesis?
✔✔Reject the null hypothesis and conclude the means are different. - ✔✔A national
manufacturer of ball bearings is experimenting with two different processes for
producing precision ball bearings. It is important that the diameters be as close as
possible to an industry standard. The output from each process is sampled and the
average error from the industry standard is measured in millimeters. The results are
shown on the table. The researcher is interested in determining whether there is
evidence that the two processes yield different average errors. The population standard
deviations are unknown but are assumed equal. If we test the null hypothesis at the 1%
level of significance, what is the decision?
✔✔1.943 - ✔✔An investigation of the effectiveness of a training program to improve
customer relationships included a pre-training and post-training customer survey. To
compare the differences, they computed (post-training survey score - pre-training
survey score). Seven customers were randomly selected and completed both surveys.
The results follow.
For a 0.05 significance level, what is the critical value?
✔✔0.0164 - ✔✔A recent study focused on the number of times men and women send a
Twitter message in a day. The sample information is summarized below. We want to
know if, at the .01 significance level, is there a difference in the mean number of times
men and women send a Twitter message in a day. What is the p-value for this
hypothesis test?
, ✔✔A paired t-test - ✔✔Twenty randomly selected statistics students were given 15
multiple-choice questions and 15 open-ended questions, all on the same material. The
professor was interested in determining if students scored higher on the multiple-choice
questions. This experiment is an example of ________________.
✔✔n1 = 11; n2 = 13 - ✔✔For a hypothesis test comparing two population means, the
combined degrees of freedom are 24. Which of the following statements about the two
sample sizes is NOT true? Assume the population standard deviations are equal.
✔✔1.782 - ✔✔The net weights (in grams) of a sample of bottles filled by a machine
manufactured by Edne, and the net weights of a sample filled by a similar machine
manufactured by Orno, Inc., are shown on the table: Testing the claim at the 0.05 level
that the mean weight of the bottles filled by the Orno machine is greater than the mean
weight of the bottles filled by the Edne machine, what is the critical value? Assume
equal standard deviations for both samples.
✔✔2.542 - ✔✔An investigation of the effectiveness of a training program to improve
customer relationships included a pre-training and post-training customer survey. To
compare the differences they computed (post-training survey score - pre-training survey
score). Seven customers were randomly selected and completed both surveys. The
results follow. What is the value of the test statistic?
✔✔It is the predicted value of Y, given a specific X value. - ✔✔In the equation, Ŷ = a +
bX, what is Ŷ?
✔✔That Y increases by 20 units for each unit increase in X - ✔✔In the least squares
equation, Ŷ = 10 + 20X, the value of 20 indicates ____________.
✔✔0.0324 - ✔✔Consider a regression analysis, where the correlation coefficient is 0.18.
Then, the coefficient of determination is _______.
✔✔Amount of sales dollars - ✔✔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?
✔✔the addition of "1" to the quantity under the radical sign - ✔✔In regression, the
difference between the confidence interval and prediction interval formulas is
________________.
✔✔True - ✔✔The least squares technique minimizes the sum of the squares of the
vertical distances between the actual Y values and the predicted values of Y.
✔✔True - ✔✔Correlation analysis is a statistical technique used to measure the
strength of the relationship between two variables.
AND ANSWERS SURE A+
✔✔t distribution with df = 80. - ✔✔Consider independent simple random samples that
are taken to test the difference between the means of two populations. The variances of
the populations are unknown, but are assumed to be equal. The sample sizes of each
population are n1 = 37 and n2 = 45. The appropriate distribution to use is the:
✔✔+2.132 - ✔✔Accounting procedures allow a business to evaluate their inventory
costs based on two methods: LIFO (Last In First Out) or FIFO (First In First Out). A
manufacturer evaluated its finished goods inventory (in $000s) for five products with the
LIFO and FIFO methods. To analyze the difference, they computed (FIFO - LIFO) for
each product. Based on the following results, and testing if the LIFO method result in a
lower cost of inventory than the FIFO method. If you use the 5% level of significance,
what is the critical t value?
✔✔H0: µ1 - µ2 = 0 - ✔✔When testing the hypothesized equality of two population
means, the implied null hypothesis is ____________.
✔✔Fail to reject the null hypothesis. - ✔✔A company is researching the effectiveness of
a new website design to decrease the time to access a website. Five website users
were randomly selected, and their times (in seconds) to access the website with the old
and new designs were recorded. To compare the times, they computed (new website
design time - old website design time). The results follow. For a 0.01 significance level,
what is the decision regarding the hypothesis that the training was effective in improving
customer relationships?
✔✔4 - ✔✔Accounting procedures allow a business to evaluate their inventory costs
based on two methods: LIFO (Last In First Out) or FIFO (First In First Out). A
manufacturer evaluated its finished goods inventory (in $000s) for five products with the
LIFO and FIFO methods. To analyze the difference, they computed (FIFO - LIFO) for
each product. Based on the following results, and testing if the LIFO method result in a
lower cost of inventory than the FIFO method. What are the degrees of freedom?
✔✔-3.299 - ✔✔A national manufacturer of ball bearings is experimenting with two
different processes for producing precision ball bearings. It is important that the
diameters be as close as possible to an industry standard. The output from each
process is sampled and the average error from the industry standard is measured in
millimeters. The results are shown on the table. The researcher is interested in
determining whether there is evidence that the two processes yield different average
errors. The population standard deviations are unknown but are assumed equal. What
is the computed value of t?
✔✔2.4 - ✔✔A recent study focused on the number of times men and women send a
Twitter message in a day. The information is summarized next. At the .01 significance
,level, testing if there a difference in the mean number of times men and women send a
Twitter message in a day. What is the value of the test statistic for this hypothesis test?
✔✔±2.797 - ✔✔A national manufacturer of ball bearings is experimenting with two
different processes for producing precision ball bearings. It is important that the
diameters be as close as possible to an industry standard. The output from each
process is sampled and the average error from the industry standard is measured in
millimeters. The results are shown on the table. The researcher is interested in
determining whether there is evidence that the two processes yield different average
errors. The population standard deviations are unknown but assumed equal. What is
the critical t value at the 1% level of significance?
✔✔3.37 - ✔✔The results of a mathematics placement exam at two different campuses
of Mercy College follow: What is the computed value of the test statistic?
✔✔H0: µd ≥ 0 - ✔✔Accounting procedures allow a business to evaluate their inventory
costs based on two methods: LIFO (Last In First Out) or FIFO (First In First Out). A
manufacturer evaluated its finished goods inventory (in $000s) for five products with the
LIFO and FIFO methods. To analyze the difference, they computed (FIFO - LIFO) for
each product. Based on the following results, the question if the LIFO method results in
a lower cost of inventory than the FIFO method. What is the alternate hypothesis?
✔✔Reject the null hypothesis and conclude the means are different. - ✔✔A national
manufacturer of ball bearings is experimenting with two different processes for
producing precision ball bearings. It is important that the diameters be as close as
possible to an industry standard. The output from each process is sampled and the
average error from the industry standard is measured in millimeters. The results are
shown on the table. The researcher is interested in determining whether there is
evidence that the two processes yield different average errors. The population standard
deviations are unknown but are assumed equal. If we test the null hypothesis at the 1%
level of significance, what is the decision?
✔✔1.943 - ✔✔An investigation of the effectiveness of a training program to improve
customer relationships included a pre-training and post-training customer survey. To
compare the differences, they computed (post-training survey score - pre-training
survey score). Seven customers were randomly selected and completed both surveys.
The results follow.
For a 0.05 significance level, what is the critical value?
✔✔0.0164 - ✔✔A recent study focused on the number of times men and women send a
Twitter message in a day. The sample information is summarized below. We want to
know if, at the .01 significance level, is there a difference in the mean number of times
men and women send a Twitter message in a day. What is the p-value for this
hypothesis test?
, ✔✔A paired t-test - ✔✔Twenty randomly selected statistics students were given 15
multiple-choice questions and 15 open-ended questions, all on the same material. The
professor was interested in determining if students scored higher on the multiple-choice
questions. This experiment is an example of ________________.
✔✔n1 = 11; n2 = 13 - ✔✔For a hypothesis test comparing two population means, the
combined degrees of freedom are 24. Which of the following statements about the two
sample sizes is NOT true? Assume the population standard deviations are equal.
✔✔1.782 - ✔✔The net weights (in grams) of a sample of bottles filled by a machine
manufactured by Edne, and the net weights of a sample filled by a similar machine
manufactured by Orno, Inc., are shown on the table: Testing the claim at the 0.05 level
that the mean weight of the bottles filled by the Orno machine is greater than the mean
weight of the bottles filled by the Edne machine, what is the critical value? Assume
equal standard deviations for both samples.
✔✔2.542 - ✔✔An investigation of the effectiveness of a training program to improve
customer relationships included a pre-training and post-training customer survey. To
compare the differences they computed (post-training survey score - pre-training survey
score). Seven customers were randomly selected and completed both surveys. The
results follow. What is the value of the test statistic?
✔✔It is the predicted value of Y, given a specific X value. - ✔✔In the equation, Ŷ = a +
bX, what is Ŷ?
✔✔That Y increases by 20 units for each unit increase in X - ✔✔In the least squares
equation, Ŷ = 10 + 20X, the value of 20 indicates ____________.
✔✔0.0324 - ✔✔Consider a regression analysis, where the correlation coefficient is 0.18.
Then, the coefficient of determination is _______.
✔✔Amount of sales dollars - ✔✔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?
✔✔the addition of "1" to the quantity under the radical sign - ✔✔In regression, the
difference between the confidence interval and prediction interval formulas is
________________.
✔✔True - ✔✔The least squares technique minimizes the sum of the squares of the
vertical distances between the actual Y values and the predicted values of Y.
✔✔True - ✔✔Correlation analysis is a statistical technique used to measure the
strength of the relationship between two variables.
