Business Research Methods
Practice Exam
Course Introduction
Business Research Methods introduces students to the fundamental concepts and techniques used to investigate business problems and support decision-making. The course covers the entire research process, from formulating research questions and designing methodologies, to data collection, analysis, and interpretation of results. Students learn about both qualitative and quantitative research methods, including surveys, interviews, case studies, and statistical analysis. Ethical considerations, sampling techniques, and the use of software tools for data analysis are also explored. By the end of the course, students are equipped to conduct and evaluate research projects to address real-world business challenges.
Recommended Textbook
Business Statistics for Contemporary Decision Making 2nd Canadian Edition by Ken Black
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Chapter 1: Introduction to Statistics
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Sample Questions
Q1) Marc Fortier,Director of Human Resources,is exploring the causes of employee absenteeism at Lennoxville Bottling during the last operating year.Personnel records for 50 of the plant's 250 employees are selected for analysis.For this study,the group of 50 employees is a ___.
A)parameter
B)sample
C)population
D)statistic
E)frame
Answer: B
Q2) Which scale of measurement has these two properties: linear distance is meaningful and the location of origin (or zero point)is absolute (or natural)?
A)interval level
B)ordinal level
C)nominal level
D)ratio level
E)relative level
Answer: D
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Chapter 2: Charts and Graphs
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Sample Questions
Q1) In a histogram,the tallest bar represents the class with the highest cumulative frequency.
A)True
B)False
Answer: False
Q2) A cumulative frequency polygon is also called an ogive.
A)True
B)False Answer: True
Q3) If the individual class frequency is divided by the total frequency,the result is the median frequency.
A)True
B)False Answer: False
Q4) For any given data set,a frequency distribution with a larger number of classes will always be better than the one with a smaller number of classes.
A)True
B)False Answer: False
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Chapter 3: Descriptive Statistics
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Sample Questions
Q1) The most appropriate measure of central tendency for nominal-level data is the median.
A)True
B)False
Answer: False
Q2) The middle value in an ordered array of numbers is called the mode.
A)True
B)False Answer: False
Q3) It is inappropriate to use the mean to analyze data that are not at least interval level in measurement.
A)True
B)False Answer: True
Q4) A box and whisker plot is determined from the mean,the smallest and the largest values,and the lower and upper quartile.
A)True
B)False Answer: False
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Chapter 4: Probability
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Sample Questions
Q1) Max Sandlin is exploring the characteristics of stock market investors.He found that sixty percent of all investors have a net worth exceeding $1,000,000;20% of all investors use an online brokerage;and 10% of all investors a have net worth exceeding $1,000,000 and use an online brokerage.An investor is selected randomly,and E is the event "net worth exceeds $1,000,000," and O is the event "uses an online brokerage." P(O|E)= ___.
A)0.17
B)0.50
C)0.80
D)0.70
E)0.88
Q2) An experiment is a process that produces outcomes. A)True
B)False
Q3) Given two events A and B each with a non-zero probability,if the conditional probability of A given B is zero,it implies that the events A and B are mutually exclusive. A)True B)False
Q4) Compare marginal,union,joint,and conditional probabilities by defining each one.
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Chapter 5: Discrete Distributions
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Sample Questions
Q1) As in a binomial distribution,each trial of a hypergeometric distribution results in one of two mutually exclusive outcomes,i.e. ,either a success or a failure.
A)True
B)False
Q2) A fair coin is tossed 5 times.What is the probability that exactly 2 heads are observed?
A)0.313
B)0.073
C)0.400
D)0.156
E)0.250
Q3) Suppose a committee of 3 people is to be selected from a group consisting of 4 men and 5 women.What is the probability that one man and two women are selected?
A)0.15
B)0.06
C)0.33
D)0.48
E)0.58
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Chapter 6: Continuous Distributions
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Sample Questions
Q1) The total area underneath any normal curve is equal to ___.
A)the mean
B)one
C)the variance
D)the coefficient of variation
E)the standard deviation
Q2) Let z be a normal random variable with mean 0 and standard deviation 1.What is P(-2.25 < z < -1.1)?
A)0.3643
B)0.8643
C)0.1235
D)0.4878
E)0.5000
Q3) Let z be a normal random variable with mean 0 and standard deviation 1.What is P(z < 1.3)?
A)0.4032
B)0.9032
C)0.0968
D)0.3485
E)0.5485
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Chapter 7: Sampling and Sampling Distributions
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Sample Questions
Q1) Suppose a population has a mean of 90 and a standard deviation of 28.If a random sample of size 49 is drawn from the population,the probability of drawing a sample with a mean between 80 and 100 is ___.
A)0.9876
B)0.0124
C)0.4938
D)0.0062
E)1.0000
Q2) Pinky Bauer,Chief Financial Officer of Harrison Haulers,Inc. ,suspects irregularities in the payroll system.If 10% of the 5,000 payroll vouchers issued since January 1,2000,have irregularities,the probability that Pinky's random sample of 200 vouchers will have a sample proportion greater than .06 is ___.
A)0.4706
B)0.9706
C)0.0588
D)0.9412
E)0.9876
Q3) Describe the distribution of a sample's mean using the central limit theorem,correcting for a finite population if necessary.
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Chapter 8: Statistical Inference: Estimation for Single Populations
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Sample Questions
Q1) A random sample of 225 items from a population results in 60% possessing a given characteristic.Using this information,the researcher constructs a 99% confidence interval to estimate the population proportion.The resulting confidence interval is ___.
A)0.54 to 0.66
B)0.59 to 0.61
C)0.57 to 0.63
D)0.52 to 0.68
E)0.68 to 0.76
Q2) Elwin Osbourne,CIO at GFS,Inc. ,is studying employee use of GFS email for non-business communications.A random sample of 200 email messages was selected.Thirty of the messages were not business related.The 98% confidence interval for the population proportion is ___.
A)0.108 to 0.192
B)0.153 to 0.247
C)0.091 to 0.209
D)0.145 to 0.255
E)0.250 to 0.275
Q3) 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) Power is equal to (1 -\(\beta\)),the probability of a test rejecting the null hypothesis that is indeed false.
A)True
B)False
Q2) If a null hypothesis was not rejected at the 0.10 level of significance,it will be rejected at a 0.05 level of significance based on the same sample results.
A)True
B)False
Q3) In testing hypotheses,the researcher initially assumes that the alternative hypothesis is true and uses the sample data to reject it.
A)True
B)False
Q4) The first step in testing a hypothesis is to establish a true null hypothesis and a false alternative hypothesis.
A)True
B)False
Q5) Reach a statistical conclusion in hypothesis testing problems about a population variance using the chi-square statistic.
11
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Chapter 10: Statistical Inferences About Two Populations
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Sample Questions
Q1) Test hypotheses about the difference in two population variances using the F distribution.
Q2) Maureen McIlvoy,owner and CEO of a mail order business for wind surfing equipment and supplies,is reviewing the order filling operations at her warehouses.Her goal is 100% of orders shipped within 24 hours.In previous years,neither warehouse has achieved the goal,but the East Coast Warehouse has consistently out-performed the West Coast Warehouse.Her staff randomly selected 200 orders from the West Coast Warehouse (population 1)and 400 orders from the East Coast Warehouse (population 2),and reports that 190 of the West Coast Orders were shipped within 24 hours,and the East Coast Warehouse shipped 356 orders within 24 hours.Assuming \(\alpha\) = 0.05,the appropriate decision is ___.
A)reject the null hypothesis p<sub>1</sub> - p<sub>2</sub> = 0
B)reject the null hypothesis \(\mu\)<sub>1</sub> - \(\mu\)<sub>2</sub> < 0
C)do not reject the null hypothesis \(\mu\)<sub>1</sub> - \(\mu\)<sub>2</sub> = 0
D)do not reject the null hypothesis p<sub>1</sub> - p<sub>2</sub> = 0
E)do not reject the null hypothesis p<sub>1</sub> - p<sub>2</sub> 0
Q3) Test hypotheses and develop confidence intervals about the difference in two dependent populations.
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Chapter 11: Analysis of Variance and Design of Experiments
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Sample Questions
Q1) Determining the table value for the F distribution is different from finding values in the t distribution tables because the F table requires two values for degrees of freedom.
A)True
B)False
Q2) Cindy Ho,VP of Finance at Discrete Components,Inc.(DCI),theorizes that the discount level offered to credit customers affects the average collection period on credit sales.Accordingly,she has designed an experiment to test her theory using four sales discount rates (0%,2%,4%,and 6%).First,she classified DCI's credit customers into three categories by total assets (small,medium,and large).Then,she randomly assigned four customers from each category to a sales discount rate.In Cindy's experiment "sales discount rate" is ___.
A)a surrogate variable
B)the dependent variable
C)a blocking variable
D)a treatment variable
E)a constant
Q3) Test a randomized block design that includes a blocking variable to control for confounding variables.
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Chapter 12: Simple Regression Analysis and Correlation
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Sample Questions
Q1) If x and y in a regression model are totally unrelated,___.
A)the correlation coefficient would be -1
B)the coefficient of determination would be 0
C)the coefficient of determination would be 1
D)the SSE would be 0
E)the MSE would be 0s
Q2) The proportion of variability of the dependent variable accounted for or explained by the independent variable is called the ___.
A)sum of squares error
B)coefficient of correlation
C)coefficient of determination
D)covariance
E)regression sum of squares
Q3) The range of admissible values for the coefficient determination is 1 to +1.
A)True
B)False
Q4) Calculate the Pearson product-moment correlation coefficient to determine if there is a correlation between two variables.
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Chapter 13: Multiple Regression Analysis
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Sample Questions
Q1) Regression analysis with one dependent variable and two or more independent variables is called multiple regression.
A)True
B)False
Q2) A human resources analyst is developing a regression model to predict electricity production plant manager compensation as a function of production capacity of the plant,number of employees at the plant,and plant technology (coal,oil,and nuclear).The "plant technology" variable in this model is ___.
A)a qualitative variable
B)a dependent variable
C)a response variable
D)an indicator variable
E)a quantitative variable
Q3) The model y = \(\beta\)<sub> 0</sub> + \(\beta\)<sub> 1</sub>x<sub>1</sub> + \(\beta\)<sub> 2</sub>x<sub>2</sub> + \(\varepsilon\) is a second-order regression model.
A)True B)False
Q4) Understand the limitations and pitfalls of multiple regression analysis.
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Chapter 14: Building Multiple Regression Models
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Sample Questions
Q1) If a square root transformation is applied to a series of positive numbers greater than 1,the numerical values of the numbers in the transformed series will be smaller than the corresponding numbers in the original series.
A)True
B)False
Q2) If a qualitative variable has c categories,then c dummy variables must be included in the regression model,one for each category.
A)True
B)False
Q3) The regression model y = \(\beta\)<sub>0</sub> + \(\beta\)<sub>1</sub> x<sub>1</sub> + \(\beta\)<sub>2</sub> x<sup>2</sup><sub>1</sub> + \(\varepsilon\)is called a quadratic model.
A)True
B)False
Q4) The interaction between two independent variables can be examined by including a new variable,which is the sum of the two independent variables,in the regression model.
A)True
B)False
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Chapter 15: Time-Series Forecasting and Index Numbers
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Sample Questions
Q1) When a trucking firm uses the number of shipments for January of the previous year as the forecast for January next year,it is using a naïve forecasting model.
A)True
B)False
Q2) The motivation for using an index number is to ___.
A)transform the data to a standard normal distribution
B)transform the data for a linear model
C)eliminate bias from the sample
D)reduce data to an easier-to-use,more convenient form
E)reduce the variance in the data
Q3) One of the main techniques for isolating the effects of seasonality is decomposition.
A)True
B)False
Q4) Describe smoothing techniques for forecasting models,including naive,simple average,moving average,weighted moving average,and exponential smoothing.
Q5) Autocorrelation in a regression forecasting model can be detected by the F test.
A)True
B)False
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Chapter 16: Analysis of Categorical Data
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Sample Questions
Q1) In a chi-square test of independence the contingency table has 4 rows and 3 columns.The number of degrees of freedom for this test is 7.
A)True B)False
Q2) A two-way table used for a test of independence is sometimes called a contingency table.
A)True B)False
Q3) Use the chi-square goodness-of-fit test to analyze probabilities of multinomial distribution trials along a single dimension.
Q4) A contingency table is to be used to test for independence.There are 3 rows and 3 columns in the table.How many degrees of freedom are there for this problem?
A)6
B)5
C)4 D)3
E)1
Q5) Use the chi-square test of independence to perform contingency analysis.
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Chapter 17: Nonparametric Statistics
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Sample Questions
Q1) The nonparametric counterpart of the t test to compare the means of two related samples is the Mann-Whitney U test.
A)True
B)False
Q2) The one-sample runs test is a nonparametric test of randomness in the sample data.
A)True
B)False
Q3) In a Friedman test with 4 treatment levels and 5 blocks,the df = ___.
A)2 B)3 C)4
D)5
E)6
Q4) Nonparametric statistical techniques are based on fewer assumptions about the population and the parameters compared to parametric statistical techniques.
A)True
B)False
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Page 19
Chapter 18: Statistical Quality Control
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Sample Questions
Q1) An chart is being developed using 25 samples of size 8 each.The average of 25 sample means is 6.20.The average of the 25 ranges is 0.30.The upper control limit is ___.
A)6.573
B)6.382
C)6.500
D)6.280
E)6.312
Q2) Which of the following quality control chart conditions is an indicator that the process is potentially out-of-control?
A)several consecutive data points between the UCL and the LCL
B)a data point above the LCL
C)a data point above the UCL
D)a data point in the outer 1/3 region
E)a data point on the center line
Q3) A schematic representation of all the activities and interactions that occur in a process is called a Pareto chart.
A)True
B)False
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Chapter 19: Decision Analysis
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Sample Questions
Q1) In a decision-making under uncertainty scenario,the decision maker chooses the decision alternative that has the minimum expected (i.e. ,probability-weighted)payoff among all the available alternatives.
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.For Dan's decision problem,the variable "net loss of $50,000" is one of the ___.
A)payoffs
B)decision alternatives
C)states of nature
D)revised probabilities
E)prior probabilities
Q3) Revise probabilities in light of sample information by using Bayesian analysis and calculating the expected value of sample information.
Q4) Make decisions under certainty by constructing a decision table.
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