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BUS300 Final Review
BUS300 Final Review
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A final exam review for Business Statistics
Flashcards
48 cards
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Practice quiz
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Host live
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Questions
48
Answers
1
The probability that the true population mean lies within the confidence interval is the
standard deviation
confidence level
interquartile range
standard error
2
Using sample data to generalize to the population is known as:
Inferential statistics
Descriptive statistics
Statistical arrogance
A leap of faith
3
The standard error is the standard deviation of a sampling distribution
False
True
4
The mean income of everyone in the US, as measured by the census, is a
population parameter
sample parameter
population statistic
sample statistic
5
Which relationships can be in a null hypothesis
\le
\ge
<
\ne
>
=
6
The .inv appended to a distribution function (for example, norm.inv or t.dist.inv)
finds a confidence interval
finds the score that corresponds to a percentile or probability
finds the probability that corresponds to a score
finds the standard error of a sampling distribution
7
In Excel, observations go on the rows and variables go in the columns
False
True
8
What is the probability of a graduate wanting a job in either the local area or the state?
65%
35%
40%
25%
9
The relationship between death from skin cancer and state latitude is
Negative
Wrong
Positive
Unclear
10
This is a
Pie chart
Column chart
Bar chart
Histogram
11
Mean = 100, sd = 25. Someone measuring 50 would have a z score of:
.5
-2
75
2
12
The Poisson distribution is discrete while the related exponential distribution is continuous
True
False
13
A student surveyed classmates in BUS300 to determine what sport all UTS students like best
Convenience sample
Experimental design
Random sample
Population census
14
An agribusiness company measured lamb birth weights. The graph is:
A column chart
A bar chart
A histogram
A line chart
15
The Poisson distribution is parameterized by
the number of events within a time period
the length of time between events
the number of trials and the probability of success
the mean and the standard deviation
16
Which of the following examples is an ordinal variable
Never, seldom, sometimes, often
100, 300, 275, 400, 215, 112
Monday, Wednesday, Friday
Brother, Father, Son
17
In the box and whisker chart:
The dot is the 50th percentile
The line is the mode
The dot is the median and the line in the box is the mean
The dot is the mean and the line in the box is the median
18
Skew of less than |.3| (absolute .3)
Heavily skewed
Moderately skewed
Practically symmetric
Not at all skewed
19
How does the t-distribution differ from the normal distribution?
It is flatter than the normal with larger sample sizes
It is flatter than the normal with smaller sample sizes
It is asymmetrical
20
The sampling distribution of the mean follows the shape of the underlying variable's distribution
False
True
21
The best measure of central tendency for a nominal variable is
Standard deviation
Mode
Mean
Median
22
For Asian city driving, the Miles per Gallon distribution is
left skewed
right skewed
not at all skewed
23
Which of the following could be converted to a dummy variable without loss of information?
Passed or Failed
Favorite football team
Age in years
Rating scale from 1 to 10
24
When the confidence level is increased, the confidence interval:
Decreases
Does not change
There is no set relationship between the two
Increases
25
Employees tested before and after cybersecurity training. Did the training raise the mean score?
Left tailed paired means
Left tailed independent sample means
Right tailed paired means
Right tailed independent sample means
26
The correlation coefficient applies to a non-linear relationship
True
False
27
The interquartile range is
The mean + or - 1 standard deviation
The distance from the 25th lowest score and the 25th highest
The range within which the middle 50% of observations fall
Wider than than + or - 1 standard deviation of the mean
28
Nationality is an example of
A ratio variable
A nominal variable
An ordinal variable
A dummy variable
29
A confidence interval is
The amount of time it takes to be confident of an answer
High and low bounds to an estimate given a confidence level
+ or - 2 standard deviations from the population mean
The interquartile range
30
H
0
: μ\le50,000 H
a
: μ>50,000
Right tailed test
Left tailed test
Two tailed test
31
In a normal distribution, the mean plus or minus 2 standard deviations should capture
~34% of all scores
~99% of all scores
~68% of all scores
~95% of all scores
32
When you see ".s" or ".p" in a function like "=stdev.s" or "=stdev.p"
The "s" stands for sample and the "p" stands for population
The "s" stands for "statistic" and the "p" stands for "proven"
The "s" stands for "sure" and the "p" stands for "possible"
33
20 employees were given a "before training" test and an "after training" test. The confidence interval to use is
CI Paired Mean Difference
It doesn't matter
CI for Standard Deviation
CI Mean Difference Independent Samples
34
A z score is
a score's distance from the mean in standard deviation units
the slope of a line
a percentile
just after a y score
35
The binomial distribution is parameterized by
the length of time between events
the mean and the standard deviation
the number of trials and the probability of success
the number of events within a time period
36
To compare scores from tests that have different scales (eg, ACT and SAT) you should
you can't compare them
convert them to z scores or percentiles
compare the raw scores
37
The distribution shown is
Uniform
Right skewed
Left skewed
Normal
38
What is the probability that it will rain
and
your date will be late?
90%
None of these
60%
18%
39
To graphically display a frequency distribution of a nominal variable
use a histogram
use a box and whisker chart
use a column chart
Use a scatter plot
40
A handy way to quickly sort and filter data is to use:
A series of "countif" statements for all the combinations you might want to
Counting by hand
Excel tables
41
To find the proportion of a normally distributed variable from a sample to the right of a value
Use 1-norm.dist
Use norm.dist
Use 1-norm.s.dist
Use norm.s.dist
42
On a measure of productivity, one worker had a z-score of 1.25. This means:
She was in the 25th percentile
She did 1.25 times more work than the average worker
She was 1.25 standard deviations above the mean
She was an average worker
43
H
0
: μ=15 H
a
: μ\ne15
Right tailed test
Two tailed test
Left tailed test
44
At the .05 level of significance, a p value of .045 is significant
True
False
45
What is the range for this data: 1, 12, 42, 118, 201
201
1 to 201
200
5
46
To find the proportion of a normally distributed variable from a sample to the left of a value
Use norm.s.dist
Use 1-norm.dist
Use 1-norm.s.dist
Use norm.dist
47
When you set a higher confidence level, say 99%, compared to a lower one, say 95%
The confidence interval gets smaller
The confidence interval gets larger
The confidence interval and confidence level are unrelated
The confidence interval doesn't change
48
A database of customers showed which towns they lived in. The "town" variable is
Ordinal
Ratio
Nominal
Integer
