COMPREHENSIVE STUDY GUIDE 2026 FULL
QUESTIONS AND SOLUTIONS GRADED A+
◍ 104,500.
Answer: A city hospital wishes to evaluate the labor hours it needs based
upon monthly occupied bed days and average length of patients' stay. The
estimated regression is: y = 2000 + 75X1 + 65X2 What scenario would be
predicted if X1 = 500 and X2 = 1000?
◍ R - Square.
Answer: A business entrepreneur wishes to predict yearly revenue for
potential Sub Restaurant sites. He performs a regression analysis based upon
the area's population and business rating. What statistic indicates the
strength of the relationship of population and rating to revenue?
◍ Not a representative sample.
Answer: An educator collects eighth grade math scores from a local school
and used this data to recommend curriculum changes for grades 8 - 12.
What misuse of statistics may the educator have used in making this
recommendation?
◍ Prescriptive Analytics.
Answer: A manufacturer wants to maximize their factory output while
specifically minimizing labor costs. What type of analytics might they
employ to achieve this goal?
◍ Cost-benefit analysis.
Answer: The town council of a beach town is studying whether to dredge the
canals of an ocean front community that were filled with sand during a
hurricane. What analytic method can the council apply to this issue?
, ◍ Check Sheet.
Answer: Which quality tool is an organized method for collecting data?
◍ Pareto Chart.
Answer: A recent poll of 519 adults who flew in the past year found they
ranked the following as their number 1 complaint: cramped seats (45), cost
(16), fear of flying (57), security measures (119), poor service (12),
connecting flight problems (8), overcrowded planes (42), late planes (57),
food (7), and other (51). Which technique would be used display a ranking
of the complaints?
◍ Median.
Answer: An economist wishes to study the distribution of household income
in a Midwestern city. He randomly selects a sample from 12 households. He
notices two large incomes in his sample. Which measure best represents the
middle of the incomes?
◍ The experimental unit.
Answer: A Company's product development team test 3 new car waxes by
waxing 5 cars with each wax and then running them through a car wash.
They then record number of washes it takes before the wax begins to
deteriorate. What is the term for the five cars?
◍ Is there a causal relationship between sales and site visits?.
Answer: A food chain finds that there is a strong positive correlation
between average daily sales for their pizza store and the number of daily
visits to their website. What should be considered before the pizza chain can
conclude that the daily sales are driving the number of visits to their website
(or vice versa)?
◍ Anova.
Answer: North American Oil Company is attempting to develop a
reasonably priced gasoline that will deliver improved gasoline mileage. As
part of its development process, the company would like to compare the
effects of three types of gasoline. Which analysis technique should the