QNT 351 FINAL EXAM QUESTION AND ANSWERS

QNT 351 FINAL EXAM QUESTION AND ANSWERS. 1. What level of measurement is the number of auto accidents reported in a given month? A. Interval B. Ratio C. Nominal D. Ordinal 2. If two events A & B are mutually exclusive, what does the special rule of addition state? A. P(A or B)=P(A)-P(B) B. P(A and/or B)=P(A)+P(B) C. P(A or B)=P(A)+P(B) D. P(A & B)=P(A)+P(B) 3. For any data set, which measures of central location have only one value? A. Mode & standard deviation B. Mode & mean C. Mean & median D. Mode & median 4. What is the variable used to predict the value of another called? A. Independent variable B. Correlation variable C. Variable of determination D. Dependent variable 5. A null hypothesis makes a claim about a A. Type II error B. Population parameter C. Sample statistic C. Sample mean 6. The performance of personal & business investments is measured as a percentage, return on investment. What type of variable is return on investment? A. Continuous B. Qualitative C. Attribute D. Discrete