QMB 3200

QMB 3200 MIDTERM EXAM ACTUAL EXAM 2 VERSION1

The following data represents the number of Sony TVs sold per day at a particular Costco over a random sample of five business days. The mode of this sample is ________. 7 The following data represents the ages of a household that consists of five people. The mode of this data set is ________. 7 The daily high temperature in Philadelphia over an eight-day period is shown below. The median for this data set is ________. 73.5 The following data represents the number of Sony TVs sold per d...

What is considered to be the language of data? statistics What are the two main branches of statistics? descriptive statistics and inferential statistics What is descriptive statistics? the summary of a data set in the form of tables, graphs, or the calculation of numerical values What is inferential statistics? extracting useful information from a sample to draw conclusions about a population What is data? the numbers, facts, and figures that are collected, analyzed, and summarized for...

Find z the area to the left of Z ex: z = .2119 use row and column area = -.80 Find z area between z values ex: area between -z and z is .9030 divide z by 2 then add .5. Then use z table to find area. .9030/2=.4515+.5=.9515 .9515 in z table is z=1.66 Find z area right of z ex: area right of z is .06915 subtract area from 1 and go to z table to find z 1-.06915 = .3085 z = -.50 Mean = sum of x/n population mean μ =. sum of x/n median value in middle mode value occurs most Wei...

Recently, FHA mortgages, which are insured by the federal government, accounted for 28% of all home-purchase mortgages that were approved. A random sample of 150 mortgage applications was selected. What is the probability that 48 or more from this sample were insured by the FHA? 0.1376 Soffritto Italian Grill served 220 dinners last Saturday night. The Chef's Special was ordered by 15% of the customers. A random sample of 50 customer orders from that evening was selected. What is the probab...

If a residual plot of x versus the residuals, y - ŷ, shows a non-linear pattern, then we should conclude that: A. the regression model was not based upon a large enough sample size. B. the regression model is useful for making predictions. C. the regression model is not an adequate representation of the relationship between the variables. D. the regression model describes the relationship between x and y very well. the regression model is not an adequate representation of the relationship ...

CH. 1 Lime Company Total equity + total liabilities CH. 1 Grapefruit servies (Total Assets - Total Liabilities) + (Revenues - Expenses) - owner withdraw CH. 1 Lemon Company, Follow the reports. Mar. 1 The business received $9000 cash from the owner of the business, Lemon. The business gave capital to Lemon. Mar. 2 Paid the first month's rent of $600. Mar. 3 Purchased equipment by paying $3000 cash and executing a note payable for $8000. Mar. 4 Purchased office supplies for $730 cash....

If a penny is tossed four times and comes up heads all four times, the probability of heads on the fifth trial is a. zero b. 1/32 c. 0.5 d. larger than the probability of trials 0.5 An experiment consists of four outcomes with P(E1)=0.2, P(E2)=0.3, and P(E3)=0.4. The probability of outcome E4 is a. 0.100 b. 0.500 c. 0.900 d. 0.024 0.100 If A and B are mutually exclusive events with P(A)=0.3 and P(B)=0.5, then P(A∩ B)= a. 0.15 b. 0.00 c. 0.20 d. 0.30 0.00 A method of assigning...

If the confidence interval for the regression slope includes zero, we would have some evidence that beta could be equal to zero, which would indicate that there may not be a relationship between the dependent and independent variables. True A professor would like to test the hypothesis that the average number of minutes that a student needs to complete a statistics exam has a standard deviation that is less than 5.0 minutes. Which of the following would be the correct hypothesis statement? H...

What is the z score formula? (the observation - mean) / standard deviation What does a z score tell us? how many standard deviations a value of from the mean How do you find the range? biggest value minus smallest value What is the formula used in excel to find the range? =max(array) - min (array) If a data set has an odd number of observations, the median a. Cannot be determined b. is the value of the middle item when all items are arranged in ascending order c. is the average valu...