BUSINESS STATS FINAL:
STRAIGHTERLINE EXAM WITH
CORRECT ANSWERS
Which eof ethe efollowing eis ea equalitative evariable etype? e- ecorrect eanswers e-
Discrete
Continuous
Both eof ethe eabove
# eNone eof ethe eabove
What ewould ebe ean eexample eof ea equantitative evariable? e- ecorrect eanswers e-The
enet epay eon eyour epaycheck
The etemperature eoutside
Your eweight
, # eAll eof ethe eabove
What eis ethe ehighest elevel eof emeasurement efor ea evariable? e- ecorrect eanswers e-
Ratio
Your ecompensation ehas eincreased esteadily ein ethe elast efew eyears. eAt ethe esame
etime, ethe enumber eof ehomeless epeople ein ethe eUnited eStates ehas ealso eincreased.
eWhat eis ethis ean eexample eof? e- ecorrect eanswers e-Association
A esampling etechnique ewhere ean eitem ecan ebe echosen eonly eonce efrom ea
epopulation eis ecalled e- ecorrect eanswers e-Sampling ewithout ereplacement.
A esampling etechnique ewhere eevery enth eitem ein ethe epopulation eis etested eis
ecalled? e- ecorrect eanswers e-Systematic eRandom eSampling
If eyou eincrease eyour esample esize, eyou.. e- ecorrect eanswers e-Eliminate eall
epossibility eof ea esample eerror
Increase ethe elikelihood eof ea esample eerror
Do enot eaffect ethe elikelihood eof ea esample eerror
None eof ethe eabove eCorrect
Ans: eYou edecrease ethe elikelihood eof esample eerror.
When eselecting ea esample, eif eyou eintentionally eselect esample eitems ethat ewill egive
eyou ea edesired eresult, ewhat ewould eyou ehave? e- ecorrect eanswers e-A ebiased
esample.
The ecentral elimit etheorem estates ethat ethe esampling edistribution eof ea esample
emean eapproximates e- ecorrect eanswers e-A enormal edistribution.
If eyou esum ethe edifference ebetween eeach eobservation eand ethe emean, ethe esum
eequals e- ecorrect eanswers e-zero
An eoutlier eis ea edata evalue ethat eis e- ecorrect eanswers e-Much ebigger eor esmaller
ethan ethe eother eobservation evalues.
What eis ethe esquare eroot eof ethe evariance? e- ecorrect eanswers e-The estandard
edeviation
What eis ea emeasure eused eto eanalyze ethe edispersion eof ethe edata? e- ecorrect
eanswers e-Range
STRAIGHTERLINE EXAM WITH
CORRECT ANSWERS
Which eof ethe efollowing eis ea equalitative evariable etype? e- ecorrect eanswers e-
Discrete
Continuous
Both eof ethe eabove
# eNone eof ethe eabove
What ewould ebe ean eexample eof ea equantitative evariable? e- ecorrect eanswers e-The
enet epay eon eyour epaycheck
The etemperature eoutside
Your eweight
, # eAll eof ethe eabove
What eis ethe ehighest elevel eof emeasurement efor ea evariable? e- ecorrect eanswers e-
Ratio
Your ecompensation ehas eincreased esteadily ein ethe elast efew eyears. eAt ethe esame
etime, ethe enumber eof ehomeless epeople ein ethe eUnited eStates ehas ealso eincreased.
eWhat eis ethis ean eexample eof? e- ecorrect eanswers e-Association
A esampling etechnique ewhere ean eitem ecan ebe echosen eonly eonce efrom ea
epopulation eis ecalled e- ecorrect eanswers e-Sampling ewithout ereplacement.
A esampling etechnique ewhere eevery enth eitem ein ethe epopulation eis etested eis
ecalled? e- ecorrect eanswers e-Systematic eRandom eSampling
If eyou eincrease eyour esample esize, eyou.. e- ecorrect eanswers e-Eliminate eall
epossibility eof ea esample eerror
Increase ethe elikelihood eof ea esample eerror
Do enot eaffect ethe elikelihood eof ea esample eerror
None eof ethe eabove eCorrect
Ans: eYou edecrease ethe elikelihood eof esample eerror.
When eselecting ea esample, eif eyou eintentionally eselect esample eitems ethat ewill egive
eyou ea edesired eresult, ewhat ewould eyou ehave? e- ecorrect eanswers e-A ebiased
esample.
The ecentral elimit etheorem estates ethat ethe esampling edistribution eof ea esample
emean eapproximates e- ecorrect eanswers e-A enormal edistribution.
If eyou esum ethe edifference ebetween eeach eobservation eand ethe emean, ethe esum
eequals e- ecorrect eanswers e-zero
An eoutlier eis ea edata evalue ethat eis e- ecorrect eanswers e-Much ebigger eor esmaller
ethan ethe eother eobservation evalues.
What eis ethe esquare eroot eof ethe evariance? e- ecorrect eanswers e-The estandard
edeviation
What eis ea emeasure eused eto eanalyze ethe edispersion eof ethe edata? e- ecorrect
eanswers e-Range
