Statistics for Managers (Microsoft Excel) Exam with Complete Solutions

In Excel, what is a collection of cells called? - ANSWER-range If a student were to count the number and type of cars passing through an intersection in a two hour period, she would be collecting which type of random variable? - ANSWER-discrete What is a mathematical operator used to perform a mathematical task called? - ANSWER-formula When surveying patient satisfaction and you are using the choices "poor" to "excellent" you are using a - ANSWER-qualitative variable Which of the following is an example of an Excel formula for taking the number 6 to the power of 2? - ANSWER-=6^2 The ____________ branch of statistics consists of methods that enable the administrator to develop generalizations, estimations, or predictions concerning the phenomenon of managerial interest. - ANSWER-inferential Which of the following is a discrete quantitative variable? - ANSWER-the number of employees of an insurance company Which of the following does NOT describe statistics? - ANSWER-A factor that exhibits variability, volatility or assumes different values The political affiliation (republican, democrat, independent) of an individual is an example of which type of variable? - ANSWER-categorical The universe or "totality of items or things" under consideration is called a - ANSWER-population In the formula for computing the mean, what does the letter "X" represent? - ANSWER-individual scores Which measure of central tendency is most appropriate for samples where you DO NOT have extreme values and your data is NOT categorical? - ANSWER-mean Which of the following is most sensitive to extreme values? - ANSWER-mean What is the mode of the following set of scores? 10, 15, 12, 18, 19, 16, 12 - ANSWER-12 What is the mean of the following set of scores (round up)? 10, 15, 12, 18, 19, 16, 12 - ANSWER-15 Which of the following is another way of representing the 75th percentile? - ANSWER-Q3 Which of the following is the correct function for calculating the midpoint of a set of scores? - ANSWER-MEDIAN(A1:A10) Which measure of central tendency can be used for both numerical and categorical variables? - ANSWER-mode Which of the following requires you to multiply a set of scores by the frequency of their occurrence, adding the total of these products and then dividing by the total number of scores? - ANSWER-Weighted mean When using the AVERAGE function in Excel, which of the following are you calculating? - ANSWER-Mean Which of the following measures of central tendency is known as the midpoint for a set of scores? - ANSWER-Median What is the median of the following set of scores? 10, 15, 12, 18, 19, 16, 12 - ANSWER-15 Variability is a measure of how much individual scores differ from the __________. - ANSWER-mean What is the standard deviation of the following set of scores? 10, 15, 12, 18, 19, 16, 12 - ANSWER-3.36 When calculating the standard deviation, what must be done in order to obtain an unbiased estimate of the population? - ANSWER-subtract 1 from n In the formula for computing the variance, what does the letter "n" represent? - ANSWER-sample size What is the range of the following set of scores? 10, 15, 12, 18, 19, 16, 12 - ANSWER-9 What is obtained by squaring the standard deviation? - ANSWER-variance Which of the following Excel functions will allow you to examine the symmetry of a set of scores? - ANSWER-SKEW(A1:A20) Excel uses "bins" to create a frequency distribution. The bin value is - ANSWER-the maximum value (upper limit) for a given category What type of graph displays class intervals along an x-axis? - ANSWER-Histogram When observations can only be included in one category (and not more than one), we refer to the categories as - ANSWER-mutually exclusive The point halfway between the boundaries of each class interval in a grouped frequency distribution is called the __________. - ANSWER-class mark What do you call a continuous line that represents the frequency of scores within a class interval? - ANSWER-Polygon What is the specific term associated with how flat a distribution appears? - ANSWER-platykurtic According to the PowerPoint slides, you should group your data into no fewer than __ groups and no more than __ groups. - ANSWER-3, 10 The width of each bar in a histogram corresponds to the - ANSWER-differences between the boundaries of the class. If the correlation between variables is .70, what percent of the variance is shared variance? - ANSWER-49% What test would you want to use to test a nondirectional research hypothesis? - ANSWER-Two-tailed test Which of the following refers to the group to which you wish to generalize your results? - ANSWER-Population Which of the following symbols or statements would be used in a nondirectional hypothesis? - ANSWER-not equal When data points group together in a cluster from the lower left-hand side of the xy axis to the upper right-hand side, what is this? - ANSWER-Positive slope Which of the following represent the Excel function to be used when computing correlation coefficients? - ANSWER-CORREL(A1:A10, B1:B10) In its standardized form, the normal distribution - ANSWER-has a mean of 0 and a standard deviation of 1 Which of the following characteristics is associated with the "tails" of the normal curve - ANSWER-Asymptotic Approximately what percent of scores fall between -1 and -2 standard deviations under the normal curve? - ANSWER-14% In a distribution with a mean of 100 and a standard deviation of 15, what is the probability that a score will be 115 or higher? - ANSWER-16% What is the z score for a raw score of 85 where the group mean is 75 and the standard deviation is 5? - ANSWER-2 For some positive value of Z, the probability that a standard normal variable is between 0 and Z is 0.3770. The value of Z is? - ANSWER-1.16 A large urban hospital delivers 600 babies per month on average with a standard deviation of 40. What is the percent probability that the hospital delivers less than 640 babies in a given month? - ANSWER-84% Given that X is normally distributed variable with a mean of 50 and a standard deviation of 2, find the probability that x is between 47 and 54. - ANSWER-0.9104 The central limit theorem states that if the _______ and _______ are large, the theoretical sampling distribution may be approximated by the standard normal curve. - ANSWER-sample size and degrees of freedom We use the following descriptive statistics to determine the curve of a normal distribution - ANSWER-mean and standard deviation Which major assumption of the t-test deals with the amount of variability in each group? - ANSWER-Variances are equal In order to determine whether or not you will reject the null hypothesis, the test statistic must be compared against the ___________. - ANSWER-Critical value In the formula that computes a t value, what does Xbar1 represent? - ANSWER-Mean for Group 1 If the obtained value is greater than the critical value, what should you do? - ANSWER-Reject the null hypothesis What does the number 2.001 represent in the following: t = 2.001, p .05? - ANSWER-the obtained t value If your obtained t value is 6.10 and the critical value is 7.14, what decision should you make? - ANSWER-Fail to reject (accept) the null hypothesis In order to be 95% confident you have not committed a Type I error, at what level should you set your p value? - ANSWER-.05 When examining group difference where no direction of the difference is specified, which of the following is used? - ANSWER-Two-tailed test The hypothesis that directly evaluates the statistical test is called the - ANSWER-research hypothesis When interpreting F(2, 27) = 8.80, p .05, what is the between-groups df? - ANSWER-2 When computing the degrees of freedom for ANOVA, how is the between-group estimate calculated? - ANSWER-k - 1 When testing difference in the means of three groups simultaneously, you would use which of the following statistical tests? - ANSWER-ANOVA Computing the between-group variance first calls for summing the difference between the grand mean and the group means. This is known as the _______. - ANSWER-SS between Step 1 of the hypothesis testing steps includes the hypotheses as well as the - ANSWER-assumptions The F value tests the __________ between groups. - ANSWER-variability If you set your significance level at 0.05 and you obtain a probability (p-value) of 0.03, you would - ANSWER-reject the null and find support for the research hypothesis Which of the following is the formula for computing the F statistic? - ANSWER-F = MS between/MS within If your test statistic (obtained value) is LESS than the critical value, you would - ANSWER-fail to reject (accept) the null and reject the research hypothesis A Type I error is committed when - ANSWER-we reject a null hypothesis that is true descriptive statististics - ANSWER-stats used to organize and describe the characteristics of a collection of data inferential statistics - ANSWER-Involves using a sample to draw conclusions about a population. sample - ANSWER-subset of the population or universe of interest and conveys information that is of administrative usefulness population - ANSWER-all observations or all theoretically conceivable observations concerning a phenomenon of interest nominal measurement - ANSWER-characterized by data that consist of names, labels, or categories only ordinal measurement - ANSWER-A level of measurement in which different numbers indicate the rank order of cases on some variable. interval measurement - ANSWER-a level of measurement that has the qualities of the ordinal level plus the requirement that intervals between assigned numbers represent equal distances in the variable being measured ratio measurement - ANSWER-highest level. have a rational, meaningful zero and therefore provide info about the absolute magnitude of the attribute variable - ANSWER-Anything that, when measured, can produce two or more different values categorical (qualitative) variable - ANSWER-variable that measures outcomes that are expressed numerically numerical (quantitative) variable - ANSWER-variable that consists of outcomes that, without modification, are not expressed numerically discrete variable - ANSWER-variables that arise from a counting process continuous variable - ANSWER-variables that arise from a measuring process frequency distribution - ANSWER-method for illustrating the distribution of scores within class intervals cumulative frequency distribution - ANSWER-frequency distribution that shows frequencies for class intervals along with the cumulative frequency for each central tendency - ANSWER-statistical measure to determine a single score that defines the center of a distribution. mean - ANSWER-typical average score median - ANSWER-middle score