Business Research Methods
Mock Exam
Course Introduction
Business Research Methods introduces students to the fundamental principles and techniques used in conducting research within the field of business. The course covers the research process, including problem definition, literature review, research design, data collection methods (qualitative and quantitative), and data analysis. Students will develop skills in formulating research questions, designing surveys and interviews, interpreting statistical results, and preparing research reports. Emphasis is placed on applying research methodologies to real-world business issues, enabling students to make informed decisions based on empirical evidence and critical analysis.
Recommended Textbook
Business Statistics for Contemporary Decision Making 2nd Canadian Edition by Ken Black
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19 Chapters
1456 Verified Questions
1456 Flashcards
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Page 2
Chapter 1: Introduction to Statistics
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Sample Questions
Q1) The lowest level of data measurement is the ratio level.
A)True
B)False
Answer: False
Q2) Sue Taylor,Director of Global Industrial Sales,is concerned by a deteriorating sales trend.Specifically,the number of customers is stable at 1,500,but they are purchasing less each year.She orders her staff to search for causes of the downward trend by surveying all 1,500 industrial customers.Sue is ordering a ___.
A)statistic from the industrial customers
B)census of the industrial customers
C)sample of the industrial customers
D)sorting of the industrial customers
E)parameter of the industrial customers
Answer: B
Q3) Gathering data from a sample to reach conclusions about the population from which the sample was drawn is called descriptive statistics.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Charts and Graphs
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Sample Questions
Q1) One advantage of a stem and leaf plot over a frequency distribution is that the values of the original data are retained.
A)True
B)False
Answer: True
Q2) Describe and construct different types of qualitative data graphs,including pie charts,bar charts,and Pareto charts.Explain when these graphs should be used. Answer: A pie chart is a circular depiction of data.The amount of each category is represented as a slice of the pie proportionate to the total.The researcher is cautioned in using pie charts because it is sometimes difficult to differentiate the relative sizes of the slices.The bar chart or bar graph uses bars to represent the frequencies of various qualitative categories.The bar chart can be displayed horizontally or vertically.A Pareto chart is a vertical bar chart that is used in total quality management to graphically display the causes of problems.The Pareto chart presents problem causes in descending order to assist the decision maker in prioritizing problem causes.
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4
Chapter 3: Descriptive Statistics
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Sample Questions
Q1) A commuter travels many kilometres to work each morning.She has timed this trip 5 times during the last month.The time (in minutes)required to make this trip was 44,39,41,35,and 41.The mean time required for this trip was 40 minutes.What is the variance for this sample data?
A)8.8
B)11
C)0
D)3
E)-2
Answer: B
Q2) Compute the mean,median,mode,standard deviation,and variance of grouped data.
Answer: Some measures of central tendency and some measures of variability are presented for grouped data,where the class midpoints and the class frequencies become the key quantities in the calculations rather than the actual data.These measures include mean,median,mode,variance,and standard deviation.Generally,these measures are only approximate for grouped data because the values of the actual raw data are unknown.
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5
Chapter 4: Probability
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Sample Questions
Q1) An analysis of personal loans at a local bank revealed the following facts: 10% of all personal loans are in default (D),90% of all personal loans are not in default (D ),20% of those in default are homeowners (H | D),and 70% of those not in default are homeowners (H | D ).If a personal loan is selected at random P (H \(\cap\) D')= ___.
A)0.20
B)0.63
C)0.90
D)0.18
E)0.78
Q2) An experiment is a process that produces outcomes.
A)True
B)False
Q3) Given two events,A and B,if the probability of A is 0.6,the probability of B is 0.4,and the joint probability of A and B is 0.24,then the two events are independent.
A)True
B)False
Q4) Calculate conditional probabilities using Bayes' rule.
Q5) Describe what probability is and when one would use it.
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Chapter 5: Discrete Distributions
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Sample Questions
Q1) Ten policyholders file claims with CareFree Insurance.Three of these claims are fraudulent.Claims manager Earl Evans randomly selects three of the ten claims for thorough investigation.If x represents the number of fraudulent claims in Earl's sample,P(x=0)is ___.
A)0.0083
B)0.3430
C)0.0000
D)0.2917
E)0.8917
Q2) If x is a binomial random variable with n=8 and p=0.6,the mean value of x is ___.
A)6
B)4.8
C)3.2
D)8
E)48
Q3) Both the Poisson and the binomial distributions are discrete distribution and both have a given number of trials.
A)True
B)False
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Page 7
Chapter 6: Continuous Distributions
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Sample Questions
Q1) If x,the time (in minutes)to complete an oil change job at a certain auto service station,is uniformly distributed over the interval 20 to 30,inclusively (20 \(\le\) x \(\le\) 30),then the height of this distribution,f(x),is ___.
A)1/10
B)1/20
C)1/30
D)12/50
E)1/60
Q2) A correction for continuity must be made when approximating the binomial distribution problems using a normal distribution.
A)True
B)False
Q3) A z score is the number of ___ that a value is from the mean.
A)variances
B)standard deviations
C)units
D)miles
E)minutes
Q4) Solve for probabilities in a continuous uniform distribution.
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Chapter 7: Sampling and Sampling Distributions
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Sample Questions
Q1) Abel Alonzo,Director of Human Resources,is exploring employee absenteeism at the Harrison Haulers Plant.Abel knows that absenteeism varies significantly between departments.For example,workers in the wood shop are absent more than those in the tuning department and the size of the departments ranges from 40 to 120 workers.He orders a random sample of 10% of the workers from each of the six departments.Abel' sample is a ___.
A)proportionate systematic sample
B)proportionate stratified sample
C)disproportionate systematic sample
D)disproportionate stratified sample
E)proportionate cluster sample
Q2) A sampling distribution is the distribution of a sample statistic such as the sample mean or sample proportion.
A)True
B)False
Q3) Systematic sampling is a type of nonrandom sampling technique.
A)True
B)False
Q4) Describe the distribution of a sample's proportion using the z formula for sample proportions.
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Chapter 8: Statistical Inference: Estimation for Single Populations
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Sample Questions
Q1) Brian Vanecek,VP of Operations at Portland Trust Bank,is evaluating the service level provided to walk-in customers.Brian would like to minimize the variance of waiting time for these customers,since this would mean each customer received the same level of service.Accordingly,his staff recorded the waiting times for 15 randomly selected walk-in customers,and determined that their mean waiting time was 15 minutes and that the standard deviation was 4 minutes.Assume that waiting time is normally distributed.The 90% confidence interval for the population variance of waiting times is ___.
A)9.46 to 34.09
B)56.25 to 64.87
C)11.05 to 16.03
D)8.58 to 39.79
E)12.50 to 42.35
Q2) Use the chi-square distribution to estimate the population variance given the sample variance.
Q3) Estimate the population mean with a known population standard deviation with the z statistic,correcting for a finite population if necessary.
Q4) Estimate a population proportion using the z statistic.
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Chapter 9: Statistical Inference: Hypothesis Testing for
Single Populations
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Sample Questions
Q1) In performing a hypothesis test where the null hypothesis is that the population mean is 6.9 against the alternative hypothesis that the population mean is not equal to 6.9,a random sample of 16 items is selected.The sample mean is 7.1 and the sample standard deviation is 2.4.It can be assumed that the population is normally distributed.The level of significance is selected as 0.05.The decision rule for this problem is to reject the null hypothesis if the observed "t" value is ___.
A)less than -2.131 or greater than 2.131
B)less than -1.761 or greater than 1.761
C)less than -1.753 or greater than 1.753
D)less than -2.120 or greater than 2.120
E)less than -3.120 or greater than 3.120
Q2) Consider the following null and alternative hypotheses: H<sub>o</sub>: p = 0.16
H<sub>a</sub>: p \(\neq\) 0.16
These hypotheses ___.
A)indicate a one-tailed test with a rejection area in the right tail
B)indicate a one-tailed test with a rejection area in the left tail
C)indicate a two-tailed test
D)are established incorrectly
E)are not mutually exclusive
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Chapter 10: Statistical Inferences About Two Populations
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Sample Questions
Q1) Restaurateur Denny Valentine is evaluating two sites,Raymondville and Rosenberg,for his next restaurant.He wants to prove that Raymondville residents (population 1)dine out more often than Rosenberg residents (population 2).Denny plans to test this hypothesis using a random sample of 81 families from each suburb.His null hypothesis is ___. A)\(\sigma\)<sub>1</sub><sup>2</sup> < \(\sigma\)<sub>2</sub><sup>2</sup>
B)\(\mu\)<sub>1</sub> - µ<sub>2</sub><sub> </sub>> 0
C)p<sub>1</sub> - p<sub>2</sub> = 0
D)\(\mu\)<sub>1</sub> - \(\mu\)<sub>2</sub> = 0
E)s<sub>1</sub> - s<sub>2</sub> = 0
Q2) In order to construct an interval estimate for the difference in the means of two normally distributed populations with unknown but equal variances,using two independent samples of size n<sub>1</sub> and n<sub>2</sub>,we must use a t distribution with (n<sub>1 </sub>+ n<sub>2</sub><sub> </sub> 2)degrees of freedom.
A)True
B)False
Q3) Test hypotheses and develop confidence intervals about the difference in two means with known population variances using the z statistic.
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Chapter 11: Analysis of Variance and Design of Experiments
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Sample Questions
Q1) In experimental design,a characteristic of the subjects that was present prior to the experiment and is not the result of the experimenter's manipulations or control is called a classification variable.
A)True
B)False
Q2) Test a randomized block design that includes a blocking variable to control for confounding variables.
Q3) In experimental design,a variable that the experimenter controls or modifies in the experiment is called a treatment variable.
A)True
B)False
Q4) Test a factorial design using a two-way analysis of variance,noting the advantages and applications of such a design and accounting for possible interaction between two treatment variables.
Q5) An experimental design contains only independent variables. A)True
B)False
Q6) Test a completely randomized design using a one-way analysis of variance.
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Chapter 12: Simple Regression Analysis and Correlation
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Sample Questions
Q1) The slope of the regression line,y = 21 5x,is 5.
A)True
B)False
Q2) For the regression line,y = 21 5x,21 is the y intercept of the line.
A)True
B)False
Q3) The range of admissible values for the coefficient determination is 1 to +1.
A)True
B)False
Q4) One of the major uses of residual analysis is to test some of the assumptions underlying regression.
A)True
B)False
Q5) Use the t and F tests to test hypotheses for both the slope of the regression model and the overall regression model.
Q6) The first step in simple regression analysis usually is to construct a scatter plot. A)True
B)False
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Chapter 13: Multiple Regression Analysis
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Sample Questions
Q1) A real estate appraiser is developing a regression model to predict the market value of single family residential houses as a function of heated area,number of bedrooms,number of bathrooms,age of the house,and central heating (yes,no).The "central heating" variable in this model is ___.
A)a response variable
B)an independent variable
C)a quantitative variable
D)a dependent variable
E)a constant
Q2) In a multiple regression model,the proportion of the variation of the dependent variable,y,accounted for the independent variables in the regression model is given by the coefficient of multiple correlation.
A)True
B)False
Q3) The mean square error (MS<sub>err</sub>)is calculated by dividing the sum of squares error (SS<sub>err</sub>)by the number of error degrees of freedom (df<sub>err</sub>).
A)True
B)False
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Page 15
Chapter 14: Building Multiple Regression Models
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Sample Questions
Q1) Recognize when multicollinearity is present,understanding general techniques for preventing and controlling it.
Q2) If a qualitative variable has "c" categories,how many dummy variables must be created and used in the regression analysis?
A)c - 1
B)c
C)c + 1
D)c - 2
E)4 + c
Q3) In multiple regression analysis,qualitative variables are sometimes referred to as
A)dummy variables
B)quantitative variables
C)dependent variables
D)performance variables
E)cardinal variables
Q4) Qualitative data cannot be incorporated into linear regression models.
A)True
B)False
Q5) Explain when to use logistic regression,and interpret its results.
Page 16
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Chapter 15: Time-Series Forecasting and Index Numbers
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Sample Questions
Q1) Time-series data are data gathered on a desired characteristic at a particular point in time.
A)True B)False
Q2) One of the ways to overcome the autocorrelation problem in a regression forecasting model is to transform the variables by taking the first-order differences.
A)True B)False
Q3) Index numbers facilitate comparison of ___.
A)means
B)data over time
C)variances
D)samples
E)deviations
Q4) One of the main techniques for isolating the effects of seasonality is reconstitution. A)True B)False
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Chapter 16: Analysis of Categorical Data
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Sample Questions
Q1) A variable contains five categories.It is expected that data are uniformly distributed across these five categories.To test this,a sample of observed data is gathered on this variable resulting in frequencies of 27,30,29,21,and 24.Using \(\alpha\) = .01,the degrees of freedom for this test are ___.
A)5
B)4
C)3
D)2
E)1
Q2) A chi-square goodness-of-fit test is to be performed to see if data fit the Poisson distribution.There are 8 categories,and lambda must be estimated.Alpha is chosen to be 0.10.The critical (table)value of chi-square is ___.
A)10.645
B)12.017
C)3.828
D)16.812
E)17.345
Q3) Use the chi-square test of independence to perform contingency analysis. To view all questions and flashcards with answers, click on the resource link above.
Chapter 17: Nonparametric Statistics
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Sample Questions
Q1) Statistical techniques based on assumptions about the population from which the sample data are selected are called ___.
A)population statistics
B)parametric statistics
C)nonparametric statistics
D)chi-square statistics
E)correlation statistics
Q2) Nonparametric statistics are sometimes called ___.
A)nominal statistics
B)interval statistics
C)distribution-dependent statistics
D)distribution-free statistics
E)qualitative statistics
Q3) Which of the following tests should be used to compare the means of two populations if the samples are related?
A)Mann-Whitney test
B)Wilcoxon test
C)Runs test
D)Spearman's test
E)Kruskal-Wallis test
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Chapter 18: Statistical Quality Control
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Sample Questions
Q1) A collection of strategies,techniques,and actions taken by an organization to assure themselves that it is producing a quality product or service is called ___.
A)quality control
B)Pareto analysis
C)Fishbone techniques
D)just-in-time analysis
E)100% inspection
Q2) Measuring product attributes at regular intervals throughout the manufacturing process in an effort to pinpoint problem areas is called in-process quality control.
A)True
B)False
Q3) Higher output wattage means higher quality to some consumers of audio amplifiers.Among Garvin's five quality types,this is an example of ___.
A)user quality
B)transcendent quality
C)product quality
D)manufacturing-based quality
E)value quality
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Chapter 19: Decision Analysis
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Sample Questions
Q1) The value of sample information is the ratio of the expected monetary value with information to the expected monetary value without information.
A)True
B)False
Q2) Dan Hein owns the mineral and drilling rights to a 1,000 hectare tract of land.If he drills a well and does not strike oil his net loss will be $50,000,but if he drills a well and strikes oil his net gain will be $100,000.If he does not drill,his loss is the cost of the mineral and drilling rights,which amount to $1000.The probability of the state of nature "oil in the tract" is unknown.If Dan is an optimist,he would choose the ___.
A)maximin criterion
B)maximax criterion
C)Hurwicz criterion
D)minimax regret strategy
E)maximin regret strategy
Q3) Make decisions under certainty by constructing a decision table.
Q4) Make decisions under uncertainty using the maximax criterion,the maximin criterion,the Hurwicz criterion,and minimax regret.
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