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Winter 2025 Alma College BUS315 Mid Term Review Flashcards | StudBud
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Winter 2025 Alma College BUS315 Mid Term Review
Winter 2025 Alma College BUS315 Mid Term Review
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Winter 2025 Alma College BUS315 Mid Term Review
Flashcards
48 cards
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Questions
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Answers
1
If a dataset has Q1 = 25 and Q3 = 75, what is the interquartile range (IQR)?
100
50
25
75
2
Which probability value represents an impossible event?
0
0.5
1
Any negative value
3
Which of the following is a measure of central tendency?
Standard deviation
Range
Mean
Variance
4
What is a key assumption in a normal distribution?
All data points are positive
Variance is always greater than the mean
Data follows a binomial distribution
Data is symmetrically distributed around the mean
5
If a dataset has an r-value of -0.85, what does it indicate?
A strong negative correlation
A weak positive correlation
A perfect positive correlation
No correlation
6
Calculate the slope given the following dataset.
1.9148
1.6713
2.0173
1.5468
7
Correlation can be positive, negative, or zero.
True
False
8
Which type of chart is best for displaying trends over time?
Scatter plot
Box plot
Pie chart
Line chart
9
Which of the following best describes correlation?
The relationship between two numerical variables
The relationship between two categorical variables
A measure of central tendency
A measure of data variability
10
What is the purpose of multicollinearity testing in multiple regression?
To check if independent variables are highly correlated
To assess the normality of residuals
To check for missing values
To determine the significance of the model
11
What is the probability of rolling a 3 on a fair six-sided die?
1/3
1/2
1/6
1/12
12
What does an Adjusted R² value account for that R² does not?
The correlation between X and Y
The significance of residuals
The number of predictors in the model
The total variance in Y
13
The p-value in regression indicates the strength of the correlation.
True
False
14
Which of the following represents a strong negative correlation?
0
-0.85
0.15
0.85
15
In probability theory, what is the sum of all probabilities in a probability distribution?
0
Infinity
It depends on the data
1
16
In multiple linear regression, which of the following is a dependent variable?
Number of Parts Used in a job analysis
Room Price in a hotel study
Customer Satisfaction Score
Employee Count
17
Where the dataset contains 15 records, calculate the intercept using the following
0
4
1
3
18
Which of the following is TRUE about the interquartile range (IQR)?
IQR is sensitive to extreme values
IQR represents the total range of the dataset
IQR is always equal to the standard deviation
IQR is used in box plots to visualize data spread
19
What is the purpose of a box plot?
To display mean and standard deviation
To measure the strength of correlation
To visualize probability distributions
To show data distribution and detect outliers
20
What does the interquartile range (IQR) measure in a dataset?
The difference between the first quartile (Q1) and the third quartile (Q3)
The mean of the dataset
The difference between the highest and lowest values
The median of the dataset
21
What is the σ of the following dataset (
3, 5, 2, 8, 10, 4, 7, 6, 9, 1)
2.872
1.236
4.537
2.943
22
What is the output variable in regression analysis that we are trying to predict.
Independent Variable
Dependent Variable
Interquartile range
Correlation
23
Which of the following is NOT a measure of variability?
Mode
Range
Standard deviation
Interquartile range
24
The ________________ distribution is used to model the probability of success in binary experiments.
Poisson
Binomial
Exponential
Normal
25
Which of the following is an assumption of linear regression?
The relationship between X and Y must be non-linear
There should be no variance in the dependent variable
The sample size must be smaller than 30
The residuals must be normally distributed
26
If a dataset shows a strong positive correlation (r = 0.85), what does this mean?
One variable increases as the other increases
The variables are independent
One variable increases as the other decreases
The variables have no relationship
27
What does R-squared (R²) measure in a regression model?
The proportion of variance in Y explained by X
The likelihood of an event occurring
The significance level of the independent variable
The correlation between two independent variables
28
What is the null hypothesis in regression analysis?
There is no relationship between the independent and dependent variable
The correlation coefficient is positive
The regression equation is always linear
The dependent variable determines the independent variable
29
Which metric is used to measure dispersion in a dataset?
Standard deviation
Mode
Correlation coefficient
Mean
30
If a normal distribution is symmetrical, what is true about the mean, median, and mode?
The mode is always greater than the mean
The mean is always greater than the median
They are all equal
There is no relationship between them
31
What does a p-value < 0.05 in regression analysis indicate?
The independent variable is not useful
The model is not valid
There is no correlation between variables
The predictor variable is statistically significant
32
Calculate the variance of the following dataset:
45, 50, 55, 60, 65, 70, 75, 80, 85, 90
206.25
210.14
167.89
94.14
33
What is a residual in regression analysis?
The predicted value of Y
The standard error of the estimate
The difference between observed and predicted values
The slope of the regression line
34
Which of the following is NOT an assumption of linear regression?
Independence of errors
The dependent variable must be categorical
Homoscedasticity
Linearity
35
When performing regression in Excel's Data Analysis Toolpak, which option generates summary statistics?
Correlation
Sampling
Regression
Descriptive Statistics
36
Which function in Excel's Data Analysis Toolpak is used to perform a correlation analysis?
Sampling
Descriptive Statistics
Regression
Correlation
37
What is an advantage of using multiple regression over simple regression?
It does not require a dependent variable
It does not require assumptions
It accounts for multiple independent variables
It always produces a higher R²
38
Which of the following best describes correlation?
A measure of central tendency
A measure of data variability
The relationship between two numerical variables
The relationship between two categorical variables
39
A probability value of 1 means the event is certain to occur
True
False
40
What does an F-test determine in regression analysis?
The independence of residuals
The correlation between two variables
The variance of a single predictor
Whether the overall model is statistically significant
41
What is the primary purpose of using multiple linear regression in business analysis?
To predict a single dependent variable using multiple independent variables
To analyze relationships between multiple dependent variables
To calculate measures of central tendency
To predict a single dependent variable using one independent variable
42
If residuals in a regression model show a clear pattern, what does this indicate?
The model is perfectly linear
The dependent variable is categorical
The model assumptions may be violated
There is no correlation between variables
43
Which of the following probabilities represents an impossible event?
1
0
1.5
-0.5
44
What does a high standard deviation indicate?
The data has a low variance
Data values are close to the mean
Greater spread in the data
There are no outliers
45
How do you interpret an R² value of 0.90?
90% of the variation in Y is explained by X
90% of the sample data is correct
There is a strong negative correlation
There is no relationship between variables
46
What does a confidence interval of 95% mean in a statistical test?
95% of the sample data is correct
There is a 95% chance that the true parameter lies within the interval
The probability of an event occurring is 95%
There is a 95% chance the hypothesis is correct
47
What is the primary purpose of multiple linear regression?
To analyze relationships between multiple dependent variables
To calculate measures of central tendency
To predict a single dependent variable using multiple independent variables
To predict a single dependent variable using one independent variable
48
What is the primary purpose of using a histogram?
To visualize frequency distributions
To display variance
To show relationships between variables
To summarize categorical data
