QMB 3200 – Test 1 Questions and Correct Answers | Business Statistics Fundamentals (Updated 2026 Edition)

QMB 3200 Test 1 Questions And Correct




Whatycisyctheyczycscoreycformula?yc-ycCORRECTycANS✔✔(theycobservationyc-ycmean)yc/ycstandardycde

Whatycdoesycayczycscoreyctellycus?yc-ycCORRECTycANS✔✔howycmanyycstandardycdeviationsycaycvalue

Howycdoycyouycfindyctheycrange?yc-ycCORRECTycANS✔✔biggestycvalueycminusycsmallestycvalue

Whatycisyctheycformulaycusedycinycexcelyctoycfindyctheycrange?yc-ycCORRECTycANS✔✔=max(array)yc-ycm

Ifycaycdataycsetychasycanycoddycnumberycofycobservations,yctheycmedian

a.ycCannotycbeycdetermined
b.ycisyctheycvalueycofyctheycmiddleycitemycwhenycallycitemsycareycarrangedycinycascendingycorder
c.ycisyctheycaverageycvalueycofyctheyctwoycmiddleycitemsycwhenycallycitemsycareycarrangedycinycascending
d.ycmustycbeycequalyctoyctheycmeanyc-
ycCORRECTycANS✔✔b.ycisyctheycvalueycofyctheycmiddleycitemycwhenycallycitemsycareycarrangedycinycasc



Whichycofyctheycfollowingycrepresentsyctheycdataycpointycthatycoccursycmostycfrequentlyycinycaycsetycofyco

a.ycMeanyc
b.ycModeyc
c.ycAllycofyctheseycchoicesycareyccorrect
d.ycMedianyc-ycCORRECTycANS✔✔b.ycMode

Theycmedianycofycaycdataycsetycisycrepresentedycbyycthe:

a.yc50thycpercentileyc
b.yc75thycpercentileyc
c.yc100thycpercentile
d.yc25thycpercentileyc-ycCORRECTycANS✔✔a.yc50thycpercentile

Whichycofyctheycfollowingycisycaycpossibleycreasonycforycanycoutlierycinycaycdataycset?

a.ycAycmistakeycwasycmadeycwhileyctakingycaycmeasurementycorycenteringycitycintoyctheyccomputer

, a.ycprobabilityycfunctionyc
b.ycexpectedycvalue
c.ycconditionalycprobability
d.ycfive-numberycsummaryyc-ycCORRECTycANS✔✔a.ycprobabilityycfunction

Whichycofyctheycfollowingycisycayccharacteristicycofycaycbinomialycexperiment?

a.ycTheyctrialsycareycdependentyc
b.ycEachyctrialycresultsycinyconeycofycthreeycoutcomes
c.ycTheycprobabilityycofycaycfailure,yc1yc-ycpycremainsycconstantycfromyctrialyctoyctrial
d.ycTheycexperimentycconsistsycofycnycdifferentyctrialsyc-ycCORRECTycANS✔✔c.ycTheycprobabilityycofyca
ycpycremainsycconstantycfromyctrialyctoyctrial



Aycrandomycvariable:

a.yccanycbeycclassifiedycasycbeingyccontinuousyc
b.yccanycbeycclassifiedycasycbeingycdiscreteyc
c.ycisycaycnumericalycdescriptionycofyctheycoutcomeycofycanycexperiment
d.ycallycofyctheseycchoicesycareyccorrectyc-ycCORRECTycANS✔✔d.ycallycofyctheseycchoicesycareyccorrect

Theycnumberycofyctreesyconycaycone-acreycparcelycofycpropertyycisycwhatyctypeycofycvariable?

a.yccategoricalyc
b.ycqualitativeyc
c.yccontinuousyc
d.ycdiscreteyc-ycCORRECTycANS✔✔d.ycdiscrete

AnycexperimentycconsistsycofycfourycpossibleycoutcomesycwithycP(E1)yc=.25,ycP(E2)yc=.10,ycandycP(E3)y
omeycE4ycis:

a.yc.50yc
b.yc1yc
c.yc.55yc
d.yc.45yc-ycCORRECTycANS✔✔d.yc.45

Theycmethodycusedyctoycassignycprobabilitiesycwhenyctheycresultsycofycexperimentationycorychistoricalycd
bilityycvaluesycisycreferredyctoycasycthe:

a.ycclassicalycmethod
b.ycsubjectiveycmethodyc
c.ycrelativeycfrequencyycmethod
d.ycposteriorycmethodyc-ycCORRECTycANS✔✔c.ycrelativeycfrequencyycmethod

Anycexperimentycconsistsycofycsurveyingyc50yccustomersycatycayclocalyccarycdealership.ycTheycrandomyc
theycnumberycofycminutesycayccustomerycspendsycatyctheycdealership.ycThisycrandomycvariableycisyca:

a.yccontinuousycrandomycvariableyc
b.ycdiscreteycrandomycvariableyc
c.yccomplexycrandomycvariable
d.ycnoneycofyctheseycchoicesyc-ycCORRECTycANS✔✔a.yccontinuousycrandomycvariable

Anyceventycis:

a.ycayccollectionycofycsampleycpoints