QMB 3200 – Test 1 Questions and Correct Answers | Business Statistics Fundamentals Study Guide

QMB 3200 Test 1 Questions And Correct




Whaticisictheiczicscoreicformula?ic-icCORRECTicANS✔✔(theicobservationic-icmean)ic/icstandardicdeviati

Whaticdoesicaiczicscoreictellicus?ic-icCORRECTicANS✔✔howicmanyicstandardicdeviationsicaicvalueicoficf

Howicdoicyouicfindictheicrange?ic-icCORRECTicANS✔✔biggesticvalueicminusicsmallesticvalue

Whaticisictheicformulaicusedicinicexcelictoicfindictheicrange?ic-icCORRECTicANS✔✔=max(array)ic-icminic(

Ificaicdataicsetichasicanicoddicnumbericoficobservations,ictheicmedian

a.icCannoticbeicdetermined
b.icisictheicvalueicofictheicmiddleicitemicwhenicallicitemsicareicarrangedicinicascendingicorder
c.icisictheicaverageicvalueicofictheictwoicmiddleicitemsicwhenicallicitemsicareicarrangedicinicascendingicord
d.icmusticbeicequalictoictheicmeanic-
icCORRECTicANS✔✔b.icisictheicvalueicofictheicmiddleicitemicwhenicallicitemsicareicarrangedicinicascendi



Whichicofictheicfollowingicrepresentsictheicdataicpointicthaticoccursicmosticfrequentlyicinicaicseticoficobserv

a.icMeanic
b.icModeic
c.icAllicofictheseicchoicesicareiccorrect
d.icMedianic-icCORRECTicANS✔✔b.icMode

Theicmedianicoficaicdataicseticisicrepresentedicbyicthe:

a.ic50thicpercentileic
b.ic75thicpercentileic
c.ic100thicpercentile
d.ic25thicpercentileic-icCORRECTicANS✔✔a.ic50thicpercentile

Whichicofictheicfollowingicisicaicpossibleicreasonicforicanicoutliericinicaicdataicset?

a.icAicmistakeicwasicmadeicwhileictakingicaicmeasurementicoricenteringiciticintoictheiccomputer

, a.icprobabilityicfunctionic
b.icexpectedicvalue
c.icconditionalicprobability
d.icfive-numbericsummaryic-icCORRECTicANS✔✔a.icprobabilityicfunction

Whichicofictheicfollowingicisicaiccharacteristicicoficaicbinomialicexperiment?

a.icTheictrialsicareicdependentic
b.icEachictrialicresultsiciniconeicoficthreeicoutcomes
c.icTheicprobabilityicoficaicfailure,ic1ic-icpicremainsicconstanticfromictrialictoictrial
d.icTheicexperimenticconsistsicoficnicdifferentictrialsic-icCORRECTicANS✔✔c.icTheicprobabilityicoficaicfail
icpicremainsicconstanticfromictrialictoictrial



Aicrandomicvariable:

a.iccanicbeicclassifiedicasicbeingiccontinuousic
b.iccanicbeicclassifiedicasicbeingicdiscreteic
c.icisicaicnumericalicdescriptionicofictheicoutcomeicoficanicexperiment
d.icallicofictheseicchoicesicareiccorrectic-icCORRECTicANS✔✔d.icallicofictheseicchoicesicareiccorrect

Theicnumbericofictreesiconicaicone-acreicparcelicoficpropertyicisicwhatictypeicoficvariable?

a.iccategoricalic
b.icqualitativeic
c.iccontinuousic
d.icdiscreteic-icCORRECTicANS✔✔d.icdiscrete

AnicexperimenticconsistsicoficfouricpossibleicoutcomesicwithicP(E1)ic=.25,icP(E2)ic=.10,icandicP(E3)ic=.2
E4icis:

a.ic.50ic
b.ic1ic
c.ic.55ic
d.ic.45ic-icCORRECTicANS✔✔d.ic.45

Theicmethodicusedictoicassignicprobabilitiesicwhenictheicresultsicoficexperimentationicorichistoricalicdatai
valuesicisicreferredictoicasicthe:

a.icclassicalicmethod
b.icsubjectiveicmethodic
c.icrelativeicfrequencyicmethod
d.icposterioricmethodic-icCORRECTicANS✔✔c.icrelativeicfrequencyicmethod

Anicexperimenticconsistsicoficsurveyingic50iccustomersicaticaiclocaliccaricdealership.icTheicrandomicvaria
umbericoficminutesicaiccustomericspendsicatictheicdealership.icThisicrandomicvariableicisica:

a.iccontinuousicrandomicvariableic
b.icdiscreteicrandomicvariableic
c.iccomplexicrandomicvariable
d.icnoneicofictheseicchoicesic-icCORRECTicANS✔✔a.iccontinuousicrandomicvariable

Aniceventicis:

a.icaiccollectionicoficsampleicpoints