Decision Science Exam Solutions
Course Introduction
Decision Science explores the systematic study of decision-making processes using quantitative and analytical methods. This course equips students with tools from statistics, operations research, psychology, and data analysis to model complex, real-world scenarios and make informed choices under uncertainty. Emphasizing both individual and organizational contexts, the curriculum covers topics such as risk assessment, optimization, decision trees, simulation, and behavioral decision theory. Practical applications and case studies help students develop critical thinking skills and enhance their ability to solve problems, support strategic planning, and improve outcomes in various fields such as business, public policy, and engineering.
Recommended Textbook
Essentials of Statistics for Business and Economics 6th Edition by David R. Anderson
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13 Chapters
1749 Verified Questions
1749 Flashcards
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Chapter 1: Data and Statistics
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) The scale of measurement that has an inherent zero value defined is the A)ratio scale
B)nominal scale
C)ordinal scale
D)interval scale
Answer: A
Q2) The number of cases will always be the same as the number of A)variables
B)elements
C)data sets
D)data
Answer: B
Q3) Temperature is an example of a variable that uses A)the ratio scale
B)the interval scale
C)the ordinal scale
D)either the ratio or the ordinal scale
Answer: B
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3
Chapter 2: Descriptive Statistics: Tabular and Graphical Presentations
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65 Verified Questions
65 Flashcards
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Sample Questions
Q1) A histogram is said to be skewed to the left if it has a
A)longer tail to the right
B)shorter tail to the right
C)shorter tail to the left
D)longer tail to the left
Answer: D
Q2) Refer to Exhibit 2-1. The number of students who work 19 hours or less is
A)80
B)100
C)200
D)400
Answer: B
Q3) The difference between the lower class limits of adjacent classes provides the A)number of classes
B)class limits
C)class midpoint
D)class width
Answer: D
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Chapter 3: Descriptive Statistics: Numerical Measures
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162 Verified Questions
162 Flashcards
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Sample Questions
Q1) The price of a selected stock over a five day period is shown below. 17, 11, 13, 17, 16
Using the above data, compute the mean, the median, and the mode.
Answer: Mean = 14.8
Median = 16
Mode = 17
Q2) When the data are skewed to the right, the measure of Skewness will be
A)negative
B)zero
C)positive
D)one
Answer: C
Q3) When should measures of location and dispersion be computed from grouped data rather than from individual data values?
A)as much as possible since computations are easier
B)only when individual data values are unavailable
C)whenever computer packages for descriptive statistics are unavailable
D)only when the data are from a population
Answer: B
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Page 5
Chapter 4: Introduction to Probability
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146 Verified Questions
146 Flashcards
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Sample Questions
Q1) In statistical experiments, each time the experiment is repeated
A)the same outcome must occur
B)the same outcome can not occur again
C)a different outcome may occur
D)a different out come must occur
Q2) An automobile dealer has kept records on the customers who visited his showroom. Forty percent of the people who visited his dealership were female. Furthermore, his records show that 35% of the females who visited his dealership purchased an automobile, while 20% of the males who visited his dealership purchased an automobile. Let
A<sub>1</sub> = the event that the customer is female
A<sub>2</sub> = the event that the customer is male
a.What is the probability that a customer entering the showroom will buy an automobile?
b.A car salesperson has just informed us that he sold a car to a customer. What is the probability that the customer was female?
Q3) A student has to take 7 more courses before she can graduate. If none of the courses are prerequisites to others, how many groups of three courses can she select for the next semester?
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Page 6
Chapter 5: Discrete Probability Distributions
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121 Verified Questions
121 Flashcards
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Sample Questions
Q1) Refer to Exhibit 5-2. What is the probability that among the students in the sample at least 7 are female?
A)0.1064
B)0.0896
C)0.0168
D)0.8936
Q2) Refer to Exhibit 5-8. The probability that there are less than 3 occurrences is A).0659
B).0948
C).1016
D).1239
Q3) A production process produces 2% defective parts. A sample of five parts from the production process is selected. What is the probability that the sample contains exactly two defective parts?
A)0.0004
B)0.0038
C)0.10
D)0.02
Q4) Determine the probability of being dealt 4 kings in a 5-card poker hand.
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Chapter 6: Continuous Probability Distributions
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165 Verified Questions
165 Flashcards
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Sample Questions
Q1) Refer to Exhibit 6-8. What is the probability that a randomly selected tire will have a life of exactly 47,500 miles?
A)0.0000
B)0.9332
C)0.0668
D)0.4993
Q2) For a standard normal distribution, the probability of obtaining a z value between -2.4 to -2.0 is
A)0.4000
B)0.0146
C)0.0400
D)0.5000
Q3) The uniform, normal, and exponential distributions are
A)all continuous probability distributions
B)all discrete probability distributions
C)can be either continuous or discrete, depending on the data
D)all the same distributions
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Chapter 7: Sampling and Sampling Distributions
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Stratified random sampling is a method of selecting a sample in which
A)the sample is first divided into strata, and then random samples are taken from each stratum
B)various strata are selected from the sample
C)the population is first divided into strata, and then random samples are drawn from each stratum
D)None of these alternatives is correct.
Q2) Students of a large university spend an average of $5 a day on lunch. The standard deviation of the expenditure is $3. A simple random sample of 36 students is taken.
a.What are the expected value, standard deviation, and shape of the sampling distribution of the sample mean?
b.What is the probability that the sample mean will be at least $4?
c.What is the probability that the sample mean will be at least $5.90?
Q3) Which of the following is(are) point estimator(s)?
A) \(\sigma\)
B)\(\mu\)
C)s
D)\(\alpha\)
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9
Chapter 8: Interval Estimation
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) A university planner is interested in determining the percentage of spring semester students who will attend summer school. She takes a pilot sample of 160 spring semester students discovering that 56 will return to summer school.
a.Construct a 95% confidence interval estimate for the percentage of spring semester students who will return to summer school.
b.Using the results of the pilot study with a 0.95 probability, how large of a sample would have to be taken to provide a margin of error of 3% or less?
Q2) In order to use the normal distribution for interval estimation of \(\mu\) when \(\sigma\) is known and the sample is very small, the population
A)must be very large
B)must have a normal distribution
C)can have any distribution
D)must have a mean of at least 1
Q3) A random sample of 81 students at a local university showed that they work an average of 60 hours per month with a standard deviation of 18 hours. Compute a 95% confidence interval for the mean of the population.
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Chapter 9: Hypothesis Tests
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136 Verified Questions
136 Flashcards
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Sample Questions
Q1) For a one-tailed test (lower tail) at 93.7% confidence, Z =
A)-1.86
B)-1.53
C)-1.96
D)-1.645
Q2) Refer to Exhibit 9-3. The p-value is between
A)0.01 to 0.025
B)0.025 to 0.05
C).05 to 0.1
D)0.1 to 0.2
Q3) A weatherman stated that the average temperature during July in Chattanooga is 80 degrees or less. A sample of 32 Julys is taken. The correct set of hypotheses is
A)H<sub>0</sub>: \(\mu\) 80 H<sub>a</sub>: \(\mu\) < 80
B)H<sub>0</sub>: \(\mu\) 80 H<sub>a</sub>: \(\mu\) > 80
C)H<sub>0</sub>: \(\mu\) \(\neq\) 80 H<sub>a</sub>: \(\mu\) = 80
D)H<sub>0</sub>: \(\mu\) < 80 H<sub>a</sub>: \(\mu\) > 80
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Chapter 10: Comparisons Involving Means, Experimental
Design and Analysis of Variance
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208 Verified Questions
208 Flashcards
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Sample Questions
Q1) Refer to Exhibit 10-12. The mean square between treatments (MSTR) is A)3.34
B)10.00
C)50.00
D)12.00
Q2) In factorial designs, the response produced when the treatments of one factor interact with the treatments of another in influencing the response variable is known as
A)main effect
B)replication
C)interaction
D)None of these alternatives is correct.
Q3) Refer to Exhibit 10-1. If you are interested in testing whether or not the average salary of males is significantly greater than that of females, the test statistic is
A)2.0
B)1.5
C)1.96
D)1.645
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Page 12
Chapter 11: Comparisons Involving Proportions and a Test of Independence
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94 Verified Questions
94 Flashcards
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Sample Questions
Q1) Refer to Exhibit 11-3. The hypothesis is to be tested at the 5% level of significance. The critical value from the table equals
A)3.84
B)7.81
C)5.99
D)9.34
Q2) A statistical test conducted to determine whether to reject or not reject a hypothesized probability distribution for a population is known as a A)contingency test
B)probability test
C)goodness of fit test
D)None of these alternatives is correct.
Q3) Refer to Exhibit 11-1. The number of degrees of freedom associated with this problem is
A)150
B)149
C)2
D)3
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Chapter 12: Simple Linear Regression
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140 Verified Questions
140 Flashcards
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Sample Questions
Q1) Refer to Exhibit 12-9. The coefficient of determination equals
A)0.6472
B)-0.6472
C)0
D)1
Q2) Refer to Exhibit 12-9. The least squares estimate of b<sub>1</sub> equals
A)0.923
B)1.991
C)-1.991
D)-0.923
Q3) Refer to Exhibit 12-5. The coefficient of correlation is A)0
B)-1
C)0.5
D)1
Q4) Refer to Exhibit 12-8. The Y intercept is A)-0.667
B)0.667
C)100
D)-100
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Chapter 13: Multiple Regression
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146 Verified Questions
146 Flashcards
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Sample Questions
Q1) A term used to describe the case when the independent variables in a multiple regression model are correlated is
A)regression
B)correlation
C)multicollinearity
D)None of the above answers is correct.
Q2) Refer to Exhibit 13-2. The coefficient of the unit price indicates that if the unit price is
A)increased by $1 (holding advertising constant), sales are expected to increase by $3
B)decreased by $1 (holding advertising constant), sales are expected to decrease by $3
C)increased by $1 (holding advertising constant), sales are expected to increase by $4,000
D)increased by $1 (holding advertising constant), sales are expected to decrease by $3,000
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