The probability that house sales will increase in - 95037

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1 Question: If the mean of a numerical data set exceeds the median, the data are considered to be left skewed. A True B False 2 Question: Suppose A and B are independent events where P(A) = 0.4 and P(B) = 0.5. Then P(A or B) = __________ A 0.90 B 0.0 C 0.20 D 0.70 3 Question: Probabilities range in value from A -1 to +1 B 0 to +1 C 0 to 100 D 1 to 100 4 Question: A sample is the portion of the universe that is selected for analysis. A True B False 5 Question: Suppose A and B are events where P(A) = 0.4, P(B) = 0.5, and P(A and B) = 0.1. Then P(A|B) = __________ A 0.90 B 0.0 C 0.20 D 0.70 6 Question: A summary measure that is computed to describe a characteristic of an entire population is called A A parameter B A census C A statistic D The scientific method 7 Question: If P(B) = .30, P(A|B) = .60 and P(A|B’) = .50, then P(B|A) is A 0.30 B 0.3396 C 0.0 D 1.000 8 Question: Which of the following statements about the median is not true? A It is more affected by extreme values than the mean B It is a measure of central tendency C It is equal to Q2 D It is equal to the mode in bell-shaped "normal" distributions 9 Question: The number of days in the month of July is an example of a A Discrete variable B Continuous variable C Qualitative variable D Constant 10 Question: A survey was conducted to determine how people rated the quality of programming available on television. Respondents were asked to rate the overall quality from 0 (no quality at all) to 100 (extremely good quality). The stem-and-leaf display of the data is shown below. What percentage of the respondents rated overall television quality with a rating between 50 and 75? A 0.11 B 0.40 C 0.44 D 0.56 11 Question: The smaller the spread of scores around the mean A The smaller the interquartile range B The smaller the standard deviation C The smaller the coefficient of variation D All the above 12 Question: A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken. Of 200 respondents selected, 75 were children and 125 were adults. 120 preferred hamburger and 80 preferred chicken. 55 of the children preferred hamburger. What is the probability that a randomly selected individual is a child and prefers chicken? A 125/200 B 200/200 C 20/200 D 60/200 13 Question: The collection of all the possible events is called a sample space. A True B False 14 Question: An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance. The number of claims a person has made in the last three years is an example of a _______ variable A Discrete B Continuous C Categorical D Parameter 15 Question: It is possible to compute a negative variance or standard deviation. A True B False 16 Question: The sample data below represent the amount of grams of carbohydrates in a serving of breakfast cereal. 11 15 23 29 19 22 21 20 15 25 17 The five number summary for the above is A 11, 3, 6, 9, 29 B 11, 2.75, 6, 8.75, 29 C 11, 15, 20, 23, 29 D 1, 3, 6, 9, 11 17 Question: When A and B are mutually exclusive, P(A or B) can be found by adding P(A) and P(B) A True B False 18 Question: A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken. Of 200 respondents selected, 75 were children and 125 were adults. 120 preferred hamburger and 80 preferred chicken. 55 of the children preferred hamburger. What is the probability that a randomly selected individual is an adult? A 125/200 B 200/200 C 20/200 D 60/200 19 Question: Which of the following reflect the need for statistical sampling? A It is too costly to deal with the complete population B It is too difficult to deal with the complete population C It is too time consuming to deal with the complete population D All of the above 20 Question: The Human Resources Director of a large corporation wishes to develop an employee benefits package and decides to select 500 employees from a list of all (N = 40,000) workers in order to study their preferences for the various components of a potential package. All the employees in the corporation constitute the A Sample B Population C Parameter D Statistic 21 Question: The universe or "totality of items or things" under consideration is called A A sample B A population C A parameter D A statistic 22 Question: A survey was conducted to determine how people rated the quality of programming available on television. Respondents were asked to rate the overall quality from 0 (no quality at all) to 100 (extremely good quality). The stem-and-leaf display of the data is shown below. What percentage of the respondents rated overall television quality with a rating of 50 or below? A 0.11 B 0.40 C 0.44 D 0.56 23 Question: The classification of student major (accounting, economics, management, marketing, other) is an example of A A categorical random variable B A discrete random variable C A continuous random variable D A parameter 24 Question: It is possible to compute a negative mean or median. A True B False 25 Question: The variance is the square root of the standard deviation. A True B False 26 Question: A campus program evenly enrolls undergraduate and graduate students. If a random sample of four students is selected from the program to be interviewed about the introduction of a new fast food outlet on the ground floor of the campus building, what is the probability that all four students selected are undergraduate students? A 0.0256 B 0.0625 C 0.16 D 1.00 27 Question: Every spring semester, the School of Business coordinates with local business leaders a luncheon for graduating seniors, their families and friends. Corporate sponsorship pays for the lunches of each of the seniors, but students have to purchase tickets to cover the cost of lunches served to guests they bring with them. The following histogram represents the attendance at the senior luncheon, where X is the number of guests each student invited to the luncheon and f is the number of students in each category. Referring to the histogram, if all the tickets purchased were used, how many guests attended the luncheon? A 388 B 275 C 152 D 4 28 Question: The Commissioner of Health in New York State wanted to study malpractice litigation in New York. A sample of 31 thousand medical records was drawn from a population of 2.7 million patients who were discharged during the year 1997. The proportion of malpractice claims filed from the sample of 31 thousand patients is a A Sample B Population C Parameter D Statistic 29 Question: If the outcome of event A is not affected by event B, then events A and B are said to be A Mutually exclusive B Statistically independent C Collectively exhaustive D None of the above 30 Question: A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken. Of 200 respondents selected, 75 were children and 125 were adults. 120 preferred hamburger and 80 preferred chicken. 55 of the children preferred hamburger. What is the probability that a randomly selected individual is a child or prefers hamburger? A 195/200 B 140/200 C 55/200 D 55/75 31 Question: If two events are independent, the probability that they both occur is A 0 B 0.50 C 1.00 D Cannot be determined from the information given 32 Question: When using the general multiplication rule, P(A and B) is equal to A P(A|B)P(B) B P(A)P(B) C P(B)/P(A) D P(A)/P(B) 33 Question: Which of the following is most likely a population as opposed to a sample? A Respondents to a newspaper survey B The first five students completing an assignment C Every third person to arrive at the bank D Registered voters in a county 34 Question: If two events are collectively exhaustive, the probability that one or the other occurs is A 0 B 0.50 C 1.00 D Cannot be determined from the information given 35 Question: A survey was conducted to determine how people rated the quality of programming available on television. Respondents were asked to rate the overall quality from 0 (no quality at all) to 100 (extremely good quality). The stem-and-leaf display of the data is shown below. What percentage of the respondents rated overall television quality with a rating of 80 or above? A 0.00 B 0.04 C 0.96 D 1.00 36 Question: The collection of all possible events is called A A Venn diagram B A sample space C A joint probability D The null set 37 Question: A study is under way in Yosemite National Forest to determine the adult height of American pine trees. Specifically, the study is attempting to determine what factors aid a tree in reaching heights greater than 60 feet tall. It is estimated that the forest contains 25,000 adult American pines. The study involves collecting heights from 250 randomly selected adult American pine trees and analyzing the results. Identify the population from which the study was sampled. A The 250 adult American pine trees from which the data was collected B The 25,000 adult American pine trees in the forest C All the adult American pine trees taller than 60 feet D All American pine trees, of any age, in the forest 38 Question: A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken. Of 200 respondents selected, 75 were children and 125 were adults. 120 preferred hamburger and 80 preferred chicken. 55 of the children preferred hamburger. What is the probability that a randomly selected individual is an adult and prefers chicken? A 125/200 B 200/200 C 20/200 D 60/200 39 Question: Suppose A and B are independent events where P(A) = 0.4 and P(B) = 0.5. Then P(A and B) = __________ A 0.90 B 0.0 C 0.20 D 0.70 40 Question: Every spring semester, the School of Business coordinates with local business leaders a luncheon for graduating seniors, their families and friends. Corporate sponsorship pays for the lunches of each of the seniors, but students have to purchase tickets to cover the cost of lunches served to guests they bring with them. The following histogram represents the attendance at the senior luncheon, where X is the number of guests each student invited to the luncheon and f is the number of students in each category. Referring to the histogram, how many graduating seniors attended the luncheon? A 388 B 275 C 152 D 4 41 Question: The probability that house sales will increase in the next 6 months is estimated to be 0.25. The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.74. The probability that house sales or interest rates will go up during the next 6 months is estimated to be 0.89. The probability that both house sales and interest rates will increase during the next 6 months is A 0.90 B 0.705 C 0.185 D 0.10 42 Question: Independent events are mutually exclusive. A True B False 43 Question: A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken. Of 200 respondents selected, 75 were children and 125 were adults. 120 preferred hamburger and 80 preferred chicken. 55 of the children preferred hamburger. Assume we know the person is a child. What is the probability that this child prefers hamburger? A 195/200 B 140/200 C 55/200 D 55/75 44 Question: A sample of 300 subscribers to a particular magazine is selected from a population frame of 9,000 subscribers. If, upon examining the data, it is determined that no subscriber had been selected in the sample more than once A The sample could not have been random B The sample may have been selected without replacement or with replacement C The sample had to have been selected with replacement D The sample had to have been selected without replacement 45 Question: The employees of a company were surveyed on questions regarding their educational background and marital status. Of the 600 employees, 400 had college degrees, 100 were single, and 60 were single college graduates. The probability that an employee of the company is single or has a college degree is A 0.733 B 0.667 C 0.25 D 0.10 46 Question: Mutually exclusive events are independent A True B False 47 Question: If two events are mutually exclusive, the probability that they both occur is A 0 B 0.50 C 1.00 D Cannot be determined from the information given 48 Question: A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken. Of 200 respondents selected, 75 were children and 125 were adults. 120 preferred hamburger and 80 preferred chicken. 55 of the children preferred hamburger. What is the probability that a randomly selected individual is an adult or a child? A 125/200 B 200/200 C 20/200 D 60/200 49 Question: The employees of a company were surveyed on questions regarding their educational background and marital status. Of the 600 employees, 400 had college degrees, 100 were single, and 60 were single college graduates. The probability that an employee of the company is married and has a college degree is A 500/600 B 400/600 C 40/600 D 340/600 50 Question: The probability that a new advertising campaign will increase sales is assessed as being 0.80. The probability that the cost of developing the new ad campaign can be kept within the original budget allocation is 0.40. Assuming that the two events are independent, the probability that the cost is kept within budget and the campaign increases sales is A 0.20 B 0.32 C 0.40 D 1.00 51 Question: If event A and event B cannot occur at the same time, then events A and B are said to be A Mutually exclusive B Statistically independent C Collectively exhaustive D None of the above 52 Question: Suppose A and B are mutually exclusive events where P(A) = 0.4 and P(B) = 0.5. Then P(A and B) = __________ A 0.90 B 0.0 C 0.20 D 0.70 53 Question: In order to compare one large batch of numerical data to another, a ________ distribution must be developed from the frequency distribution. A Known B Pie chart C Discrete D Relative frequency or percentage 54 Question: According to the empirical rule, if the data form a "bell-shaped" normal distribution, _______ percent of the observations will be contained within 1 standard deviation around the mean. A 68.26 B 75.0 C 88.89 D 93.75 55 Question: The probability that house sales will increase in the next 6 months is estimated to be 0.25. The probability that the interest rates on housing loans will go up in the same period is estimated to be 0.74. The probability that house sales or interest rates will go up during the next 6 months is estimated to be 0.89 The events of interest rate increase and housing sales increase are independent A True B False
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