Qnt 561 final exam Study guides, Class notes & Summaries

QNT 561 Final Exam 2 QNT 561 Final Exam 2 1. A difference between calculating sample mean and population mean is A. Only in symbols, we use instead of µ and n instead of N B. We divide sum of observations by n - 1 instead of n C. observations are ranked and select middle value for population mean D. There are no differences 2. Which of following measures of central location is affected most by extreme values? A. Median B. Mean C. Mode D. Geometric mean 3. Which level o...

QNT 561 FINAL EXAM – QUESTION AND ANSWERS If x is a binomial random variable with n=10 and p=0.8, what is the probability that x is equal to 4? • .0055 • .0063 • .232 • .994 • .124 The weight of a USB flash drive is 30 grams and is normally distributed. Periodically, quality control inspectors at Dallas Flash Drives randomly select a sample of 17 USB flash drives. If the mean weight of the USB flash drives is too heavy or too light the machiner...

QNT 561 Final Exam 2 1. A difference between calculating sample mean and population mean is A. Only in symbols, we use instead of µ and n instead of N B. We divide sum of observations by n - 1 instead of n C. observations are ranked and select middle value for population mean D. There are no differences 2. Which of following measures of central location is affected most by extreme values? A. Median B. Mean C. Mode D. Geometric mean 3. Which level of measurement is requi...

QNT 561 Final Exam 4 1) Which of the following measures of central location is affected most by extreme values? A. Mean B. Median C. Mode D. Geometric mean 2) Which level of measurement is required for the median? A. Nominal B. Ordinal C. Interval D. Ratio 3) Which level of measurement is required for the mode? A. Nominal B. Ordinal C. Interval D. Ratio 4) In a set of observations, which measure of central tendency reports the value that occurs most often? A. Mean B. Me...

QNT 561 FINAL EXAM – QUESTION AND ANSWERS • A market researcher is interested in determining the average income for families in San Mateo County, California. To accomplish this, she takes a random sample of 300 families from the county and uses the data gathered from them to estimate the average income for families of the entire county. This process is an example of o Inferential statistics • If x is a binomial random variable with n=10 and p=0.8, what is the probability that x is ...

QNT 561 FINAL EXAM – QUESTION AND ANSWERS 1 A market researcher is interested in determining the average income for families in San Mateo County, California. To accomplish this, she takes a random sample of 300 families from the county and uses the data gathered from them to estimate the average income for families of the entire county. This process is an example of _______. • inferential statistics 2 If x is a binomial random variable with n=10 and p=0.8, what is the proba...

QNT 561 FINAL EXAM 1 – QUESTION AND ANSWERS 1. According to the central limit theorem, for samples of size 64 drawn from a population with µ = 800 and σ = 56, the mean of the sampling distribution of sample means would equal _______. a. 800 2. The empirical rule says that approximately what percentage of the values would be within 2 standard deviations of the mean in a bell shaped set of data? a. 95% 3. Ophelia O'Brien, VP of Consumer Credit of American First Banks (AFB), monitors th...

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QNT 561 FINAL EXAM – QUESTION AND ANSWERS If x is a binomial random variable with n=10 and p=0.8, what is the probability that x is equal to 4? • .0055 • .0063 • .232 • .994 • .124 The weight of a USB flash drive is 30 grams and is normally distributed. Periodically, quality control inspectors at Dallas Flash Drives randomly select a sample of 17 USB flash drives. If the mean weight of the USB flash drives is too heavy or too light the machiner...