Business Data Analysis
Mock Exam
Course Introduction
Business Data Analysis introduces students to the fundamental concepts and techniques used to analyze data in a business context. The course covers topics such as data collection, data cleaning, descriptive statistics, probability, hypothesis testing, regression analysis, and data visualization. Emphasis is placed on interpreting data to make informed business decisions, using software tools to analyze and present results, and understanding how data-driven insights can drive organizational strategy and operational efficiency. Through practical exercises and real-world case studies, students will develop the skills to solve complex business problems and communicate analytical findings effectively.
Recommended Textbook
Applied Statistics in Business and Economics 5th Edition by David Doane
Available Study Resources on Quizplus
17 Chapters
1953 Verified Questions
1953 Flashcards
Source URL: https://quizplus.com/study-set/2943
Page 2
Chapter 1: Overview of Statistics
Available Study Resources on Quizplus for this Chatper
52 Verified Questions
52 Flashcards
Source URL: https://quizplus.com/quiz/58601
Sample Questions
Q1) How might statistics be useful in determining the correct width of doorways in a convalescent care facility so that 99 percent of the "typical" wheelchairs can pass through the doorway without coming closer than 6 inches on either side?
Answer: Large samples could be taken of wheelchair widths and the space needed on either side, and averages and the 99<sup>th</sup> percentile could be computed for widths of major brands of old and new wheelchairs, along with the proportion of each type of wheelchair in use.
Q2) Statistics is an essential part of critical thinking because it allows us to transform the empirical evidence from a sample so it will agree with our preferred conclusions.
A)True
B)False
Answer: False
Q3) In business communication, a table of numbers is preferred to a graph because it is more able to convey meaning.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Data Collection
Available Study Resources on Quizplus for this Chatper
111 Verified Questions
111 Flashcards
Source URL: https://quizplus.com/quiz/58600
Sample Questions
Q1) Which is least likely to be regarded as a ratio variable?
A)A critic's rating of a restaurant on a 1 to 4 scale
B)Automobile exhaust emission of nitrogen dioxide (milligrams per mile)
C)Number of customer complaints per day at a cable TV company office
D)Cost of an eBay purchase
Answer: A
Q2) An accounting professor wishing to know how many MBA students would take a summer elective in international accounting did a survey of the class she was teaching. Which kind of sample is this?
A)Simple random sample
B)Cluster sample
C)Systematic sample
D)Convenience sample
Answer: D
Q3) Which of the following is not a likely reason for sampling?
A)The destructive nature of certain tests
B)The physical impossibility of checking all the items in the population
C)Prohibitive cost of studying the entire population
D)The expense of obtaining random numbers
Answer: D
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Describing Data Visually
Available Study Resources on Quizplus for this Chatper
108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/58599
Sample Questions
Q1) Which is not a characteristic of a log scale for time series data?
A)Log scales are useful when data change by an order of magnitude.
B)The distance from 5 to 50 is the same as the distance from 50 to 500.
C)On a log scale, equal distances represent equal ratios.
D)Log scales are generally familiar to the average reader.
Answer: D
Q2) Stacked dot plots are useful in understanding the association between two paired quantitative variables (X, Y).
A)True
B)False
Answer: False
Q3) Which of the following is true?
A)Line charts are not used for cross-sectional data.
B)Line charts are useful for visualizing categorical data.
C)Pyramid charts are generally preferred instead of column charts.
D)Pie charts can generally be used instead of bar charts.
Answer: A
To view all questions and flashcards with answers, click on the resource link above.
Chapter 4: Descriptive Statistics
Available Study Resources on Quizplus for this Chatper
150 Verified Questions
150 Flashcards
Source URL: https://quizplus.com/quiz/58598
Sample Questions
Q1) One benefit of the box plot is that it clearly displays the standard deviation.
A)True
B)False
Q2) Which is not true of an outlier?
A)It is likely to be from a different population.
B)It suggests an error in recording the data.
C)It is best discarded to get a better mean.
D)It is an anomaly that may tell the researcher something.
Q3) Which statistics offer robust (resistant to outliers) measures of center?
A)Mean, midrange, mode.
B)Median, midhinge, trimmed mean.
C)Trimmed mean, midrange, midhinge.
D)Mean, mode, quartiles.
Q4) Six graduates from Fulsome University's Master's of Waste Management program were hired by a Saudi Arabian firm at $110,000 each, while the other four graduates were unemployed. The university placement office bragged, "Our MWM graduates enjoyed a median starting salary of $110,000." Is this a reasonable assessment of central tendency? What are the alternatives?
To view all questions and flashcards with answers, click on the resource link above.
Page 6
Chapter 5: Probability
Available Study Resources on Quizplus for this Chatper
123 Verified Questions
123 Flashcards
Source URL: https://quizplus.com/quiz/58597
Sample Questions
Q1) The probability of A and its complement (A´) will always sum to one.
A)True
B)False
Q2) If P(A) = .20 then the odds against event A's occurrence are 4 to 1.
A)True
B)False
Q3) Which best exemplifies a subjective probability?
A)The probability that a female age 30 will have an accident in a week's car rental at Hertz
B)The probability that a pair of dice will come up 7 in a given throw
C)The probability that the summer Olympic games will be held in Chicago in 2020
D)The probability that a checked bag on Flight 1872 will weigh more than 40 pounds
Q4) If events A and B are mutually exclusive, the joint probability of the events is zero.
A)True
B)False
Q5) A baseball player said, "Yes, I'm in a batting slump. But the law of averages has got to catch up sooner or later. I'm bound to improve." Discuss the logic of this statement.
To view all questions and flashcards with answers, click on the resource link above.
Page 7
Chapter 6: Discrete Probability Distributions
Available Study Resources on Quizplus for this Chatper
126 Verified Questions
126 Flashcards
Source URL: https://quizplus.com/quiz/58596
Sample Questions
Q1) A stock portfolio consists of two stocks X and Y. Their daily closing prices are independent random variables with standard deviations <sub>X</sub> = 2.51 and <sub>Y</sub> = 5.22. What is the standard deviation of the sum of the closing prices of these two stocks?
A)33.55
B)6.48
C)7.73
D)5.79
Q2) The probability that a rental car will be stolen is 0.0004. If 3500 cars are rented, what is the approximate Poisson probability that 2 or fewer will be stolen?
A).3452
B).2417
C).5918
D).8335
Q3) The coefficient of variation for a Poisson distribution with = 5 is:
A)35.2 percent.
B)58.9 percent.
C)44.7 percent.
D)31.1 percent.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Continuous Probability Distributions
Available Study Resources on Quizplus for this Chatper
120 Verified Questions
120 Flashcards
Source URL: https://quizplus.com/quiz/58595
Sample Questions
Q1) The exponential distribution is always skewed right.
A)True
B)False
Q2) If the mean waiting time for the next arrival is 18 minutes, what is the first quartile (25<sup>th</sup> percentile) for waiting times?
A)13 minutes
B)7.9 minutes
C)5.2 minutes
D)3.1 minutes
Q3) If arrivals follow a Poisson distribution with mean 1.2 arrivals per minute, find the 75<sup>th</sup> percentile of waiting times until the next arrival (i.e., 75 percent below).
A)1.155 minutes (69.3 seconds)
B)0.240 minute (14.4 seconds)
C)1.919 minutes (115.1 seconds)
Q4) The number of lightning strikes in a day in Miami is a continuous random variable.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 8: Sampling Distributions and Estimation
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/58594
Sample Questions
Q1) The standard deviation of the sample proportion p = x/n increases as n increases.
A)True
B)False
Q2) In constructing a confidence interval for a mean, the width of the interval is dependent on the sample size, the confidence level, and the population standard deviation.
A)True B)False
Q3) A highway inspector needs an estimate of the mean weight of trucks crossing a bridge on the interstate highway system. She selects a random sample of 49 trucks and finds a mean of 15.8 tons with a sample standard deviation of 3.85 tons. The 90 percent confidence interval for the population mean is:
A)14.72 to 16.88 tons.
B)14.90 to 16.70 tons.
C)14.69 to 16.91 tons.
D)14.88 to 16.72 tons.
Q4) Why does pose a problem for sample size calculation for a mean? How can be approximated when it is unknown?
To view all questions and flashcards with answers, click on the resource link above.
Page 10
Chapter 9: One-Sample Hypothesis Tests
Available Study Resources on Quizplus for this Chatper
147 Verified Questions
147 Flashcards
Source URL: https://quizplus.com/quiz/58593
Sample Questions
Q1) The Melodic Kortholt Company will change its current health plan if at least half the employees are dissatisfied with it. A trial sample of 25 employees shows that 16 are dissatisfied. The p-value for a right-tailed test is:
A).1337
B).4192
C).0901
D).0808
Q2) The null hypothesis is rejected when the p-value exceeds the level of significance.
A)True
B)False
Q3) If the hypothesized proportion is <sub>0</sub> = .025 in a sample of size 120, it is safe to assume normality of the sample proportion p.
A)True
B)False
Q4) The hypotheses H<sub>0</sub>: .40, H<sub>1</sub>: < .40 would require:
A)a left-tailed test.
B)a right-tailed test.
C)a two-tailed test.
To view all questions and flashcards with answers, click on the resource link above.
Page 11
Chapter 10: Two-Sample Hypothesis Tests
Available Study Resources on Quizplus for this Chatper
113 Verified Questions
113 Flashcards
Source URL: https://quizplus.com/quiz/58592
Sample Questions
Q1) A medical researcher compared the variances in birth weights for five randomly chosen babies of each gender, with the MegaStat results shown below. F-test for equality of variance
\( \quad \)\(3.537\) \( \quad \)variance: Boys
\( \quad \)\(3.288\)\( \quad \) variance: Girls
\( \quad \)\(1.08 \)\( \quad \) F
\( \quad \)\(.9453 \)\( \quad \)p-value The population variances:
A)may be assumed equal at any customary ?
B)should be assumed unequal at any customary ?
C)are not relevant to this paired t-test.
Q2) Carver Memorial Hospital's surgeons have a new procedure that they think will decrease the time to perform an appendectomy. A sample of 8 appendectomies using the old method had a mean of 38 minutes with a variance of 36 minutes, while a sample of 10 appendectomies using the experimental method had a mean of 29 minutes with a variance of 16 minutes. For a right-tailed test of means (assume equal variances), the test statistic is:
A)3.814
B)2.365
C)3.000
D)1.895
To view all questions and flashcards with answers, click on the resource link above.
Page 12
Chapter 11: Analysis of Variance
Available Study Resources on Quizplus for this Chatper
126 Verified Questions
126 Flashcards
Source URL: https://quizplus.com/quiz/58591
Sample Questions
Q1) In a 3×4 randomized block (two-factor unreplicated) ANOVA, we have 12 treatment groups.
A)True
B)False
Q2) Refer to the following partial ANOVA results from Excel (some information is missing).
\[\begin{array} { | l | c | c | c | c | }
\hline \text { Source of Variation } & S S & d f & M S & F \\
\hline \text { Between groups } & & & 210.2778 & \\
\hline \text { Within groups } & 1483 & & 74.15 & \\
\hline \text { Total } & 2113.833 & & & \\
\hline
\end{array}\] SS for between-groups variation will be:
A)129.99.
B)630.83.
C)1233.4.
D)Can't tell.
Q3) Interaction plots that show crossing lines indicate likely interactions.
A)True
B)False
Q4) What is GLM, and why do we need it?
Page 13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Simple Regression
Available Study Resources on Quizplus for this Chatper
135 Verified Questions
135 Flashcards
Source URL: https://quizplus.com/quiz/58590
Sample Questions
Q1) The error term <sub>i</sub> in the population regression model y<sub>i</sub> = <sub>0</sub> + <sub>1</sub> x<sub>i</sub> + <sub>i</sub> is assumed to be:
A)observable.
B)autocorrelated.
C)heteroscedastic.
D)normally distributed.
Q2) Confidence intervals for predicted Y are less precise when the residuals are very small.
A)True
B)False
Q3) A negative correlation between two variables X and Y usually yields a negative p-value for r.
A)True
B)False
Q4) Outliers can be detected by examining the standardized residuals.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
14
Chapter 13: Multiple Regression
Available Study Resources on Quizplus for this Chatper
130 Verified Questions
130 Flashcards
Source URL: https://quizplus.com/quiz/58589
Sample Questions
Q1) A realtor is trying to predict the selling price of houses in Greenville (in thousands of dollars) as a function of Size (measured in thousands of square feet) and whether or not there is a fireplace (FP is 0 if there is no fireplace, 1 if there is a fireplace). Part of the regression output is provided below, based on a sample of 20 homes. Some of the information has been omitted. \[\begin{array} { l r r r }
\hline \text { Variable } & \text { Coefficients } & \text { Standard Error } & t \text {-Stat } \\
\hline \text { Intercept } & 128.93746 & 2.6205302 & 49.203 \\
\text { Size } & & 1.2072436 & 11.439 \\
\text { FP } & 6.47601954 & 1.9803612 & 3.27 \\
\hline
\end{array}\] The estimated coefficient for Size is approximately:
A)9.5.
B)13.8.
C)122.5.
D)1442.6.
Q2) A widening pattern of residuals as X increases would suggest heteroscedasticity.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 15
Chapter 14: Time Series Analysis
Available Study Resources on Quizplus for this Chatper
114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/58588
Sample Questions
Q1) Which of the following is the least useful time-series forecasting model when there is a strong upward trend in the data?
A)Estimated exponential trend model
B)A five-period centered moving average
C)Exponential smoothing with a high
D)Regression model with trend and seasonal binaries
Q2) Additive models are most appropriate over longer periods of time or when the data magnitude is growing rapidly over time.
A)True
B)False
Q3) The shape of the fitted quadratic model y<sub>t</sub> = 248 - 84t + 2.4t<sup>2</sup> is declining, then rising.
A)True
B)False
Q4) The exponential model would be attractive for analyzing a growing company's revenues over time.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 16
Chapter 15: Chi-Square Tests
Available Study Resources on Quizplus for this Chatper
99 Verified Questions
99 Flashcards
Source URL: https://quizplus.com/quiz/58587
Sample Questions
Q1) In a test for a uniform distribution with k categories, the expected frequency is n/k in each cell.
A)True B)False
Q2) Which of these statements concerning a chi-square goodness-of-fit test is correct?
A)It is inapplicable to test for a normal distribution with open-ended top and bottom classes.
B)It is generally a better test than the chi-square test of independence.
C)There is no way to get the degrees of freedom since the right tail goes to infinity.
D)It can be used to test whether a sample follows a specified distribution.
Q3) If two variables are independent, we would anticipate a chi-square test statistic close to zero.
A)True B)False
Q4) A chi-square distribution is always skewed right.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 16: Nonparametric Tests
Available Study Resources on Quizplus for this Chatper
85 Verified Questions
85 Flashcards
Source URL: https://quizplus.com/quiz/58586
Sample Questions
Q1) We sometimes call the Wilcoxon rank sum test the Mann/Whitney test, but the two are the same.
A)True
B)False
Q2) Spearman's rank correlation always lies within the range -1.00 to +1.00.
A)True
B)False
Q3) Most nonparametric tests assume ordinal data.
A)True
B)False
Q4) All of these are nonparametric tests except:
A)Spearman rank correlation test.
B)Friedman test.
C)Student's t test.
D)Kruskal-Wallis test.
Q5) The Wilcoxon signed-rank test does not assume a normal population, but it does require a roughly symmetric population.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Quality Management
Available Study Resources on Quizplus for this Chatper
108 Verified Questions
108 Flashcards
Source URL: https://quizplus.com/quiz/58585
Sample Questions
Q1) Which is not a true statement about the life and philosophy of W. Edwards Deming?
A)He taught quality control techniques to Japanese companies during the 1950s.
B)He lived a very long life and was a highly paid consultant past age 80.
C)He invented control charts and proposed the ISO 9000 standard.
D)He believed that poor quality is not primarily the fault of the workers.
Q2) What does the first letter mean in the Six-Sigma DMAIC acronym?
A)Design
B)Distribute
C)Describe
D)Define
Q3) Find the C<sub>pk</sub> index for a process with USL = 550, LSL = 540, = 544, and = 1.25.
A)1.33
B)2.22
C)1.07
D)1.75
Q4) If USL = 550, LSL = 540, = 545, and = 1.75, the process is highly capable.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 19