Managerial Statistics Test Bank
Course Introduction
Managerial Statistics is a course designed to equip students with the statistical tools and analytical techniques essential for effective decision-making in business environments. The course covers fundamental topics such as data collection, descriptive statistics, probability distributions, hypothesis testing, regression analysis, and forecasting. Emphasis is placed on interpreting statistical results, applying quantitative methods to real-world managerial problems, and using statistical software for data analysis. By the end of the course, students will develop a data-driven approach to problem-solving, enabling them to make informed decisions and confidently tackle uncertainty in managerial contexts.
Recommended Textbook
Basic Business Statistics 5th Edition by Mark
Available Study Resources on Quizplus
19 Chapters
3026 Verified Questions
3026 Flashcards
Source URL: https://quizplus.com/study-set/3489
Page 2
Chapter 1: Defining and Collecting Data
Available Study Resources on Quizplus for this Chatper
145 Verified Questions
145 Flashcards
Source URL: https://quizplus.com/quiz/69275
Sample Questions
Q1) Referring to Instruction 1.1,the possible responses to the question 'How much time do you use the wireless home security system every week on the average?' are values from a
A) continuous numerical random variable.
B) discrete numerical random variable.
C) categorical random variable.
D) parameter.
Answer: A
Q2) An insurance company evaluates many numerical variables about a person before deciding on an appropriate rate for automobile insurance.The number of tickets a person has received in the last three years is an example of a _________ numerical variable.
Answer: discrete
Q3) A personal computer user survey was conducted.The primary word processing package used is an example of a _________variable.
Answer: discrete
Q4) The grade level (1-12)of a student is an example of a nominal scaled variable.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Organising and Visualising Data
Available Study Resources on Quizplus for this Chatper
203 Verified Questions
203 Flashcards
Source URL: https://quizplus.com/quiz/69276
Sample Questions
Q1) Referring to Instruction 2.5,_________of the 100 members visited the health club no more than 12 times in a year.
Answer: 38
Q2) Referring to Instruction 2.8,if a frequency distribution for the amount of detergent used is constructed,using '9.0 but less than 9.9 litres' as the first class,the frequency of the '11.0 but less than 11.9 litres' class would be _________.
Answer: 9
Q3) Referring to Instruction 2.11,of the females in the sample,_________ % did not own a portable DVD.
Answer: 85.71
Q4) Referring to Instruction 2.10,of the females in the sample,_________ % were against the plan.
Answer: 11.54
Q5) In general,grouped frequency distributions should have between 1 and 5 class intervals.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Numerical Descriptive Measures
Available Study Resources on Quizplus for this Chatper
147 Verified Questions
147 Flashcards
Source URL: https://quizplus.com/quiz/69277
Sample Questions
Q1) When preparing data analysis,you should document A) both good and bad results.
B) only the most favorable results.
C) the results that best support the majority opinion.
D) the results that best support the study's objectives.
Answer: A
Q2) According to the empirical rule,if the data form a "bell-shaped" normal distribution,_____________ percent of the observations will be contained within 3 standard deviations around the arithmetic mean.
A) 68.26
B) 75.00
C) 99.7
D) 95.0
Answer: C
Q3) Referring to Instruction 3-4,the median of the customs data is _____________ . Answer: 23
Q4) Referring to Instruction 3-2,the variance of the carbohydrate amounts is _____________ (grams squareD..
Answer: 26.02
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Basic Probability
Available Study Resources on Quizplus for this Chatper
168 Verified Questions
168 Flashcards
Source URL: https://quizplus.com/quiz/69278
Sample Questions
Q1) Referring to Instruction 4.9,if an adult is selected at random,what is the probability that he/she is a registered voter who does not prefer to get his/her current information from the Internet?
Q2) Referring to Instruction 4.7,the probability that you win any money is_____________ .
Q3) Referring to Instruction 4.3,assume we know the person is a child.The probability that this individual prefers hamburgers is_____________ .
Q4) A new model car from Ford Motor Company offers a keyless entry system that utilises a four-letter code.How many different possible combinations are there for the code?
Q5) Referring to Instruction 4.13,what is the probability that an adult who prefers to get his/her current information from the Internet will be a registered voter?
Q6) Referring to Instruction 4.1,given that three vehicles were involved,what proportion of accidents involved alcohol?
A) 20/170 or 11.77%
B) 20/50 or 40%
C) 20/400 or 5%
D) 20/30 or 66.67%
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Some Important Discrete Probability
Distributions
Available Study Resources on Quizplus for this Chatper
172 Verified Questions
172 Flashcards
Source URL: https://quizplus.com/quiz/69279
Sample Questions
Q1) Referring to Instruction 5.8,what is the probability out of the eight new cars it just received that,when each is tested,exactly half of the cars have defective radios?
Q2) Referring to Instruction 5.8,what is the probability out of the eight new cars it just received that,when each is tested,at most two of the cars have defective radios?
Q3) The probability that she gets audited at least once is ______.
Q4) A probability distribution for a discrete random variable is a mutually exclusive list of all possible numerical outcomes of the random variable with the probability of occurrence associated with each outcome.
A)True
B)False
Q5) Referring to Instruction 5.2,the mean or expected value of the number of accidents is ______.
Q6) The covariance between two investments is equal to the sum of the variances of the investments.
A)True
B)False
Q7) he probability that she gets audited once is ______.
Page 7
To view all questions and flashcards with answers, click on the resource link above.
Chapter 6: The Normal Distribution and Other Continuous Distributions
Available Study Resources on Quizplus for this Chatper
190 Verified Questions
190 Flashcards
Source URL: https://quizplus.com/quiz/69280
Sample Questions
Q1) If we know that the length of time it takes a university student to find a parking space in the university car park follows a normal distribution with a mean of 3.5 minutes and a standard deviation of 1 minute,find the probability that a randomly selected university student will take between 2 and 4.5 minutes to find a parking space in the car park.
A) 0.4938
B) 0.0919
C) 0.2255
D) 0.7745
Q2) What proportion of customers having to hold more than 4.5 minutes will hang up before placing an order?
A) 0.51342
B) 0.48658
C) 0.22313
D) 0.77687
Q3) Referring to Instruction 6.6,what is the probability that the time interval between two consecutive defective light bulbs will be between 10 and 20 minutes?
Q4) So,90% of the products require more than _________minutes for assembly.
Q5) The probability that Z values are larger than _________is 0.3483.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Sampling Distributions
Available Study Resources on Quizplus for this Chatper
133 Verified Questions
133 Flashcards
Source URL: https://quizplus.com/quiz/69281
Sample Questions
Q1) The probability that the mean of the sample is less than 1080.9 is _____.
Q2) Australian football salaries averaged $150,000 with a standard deviation of $80,000 in a recent year.Suppose a sample of 100 football players was taken.What was the standard error for the sample mean salary?
A) $8,000
B) $800,000
C) $8 million
D) $150,000
Q3) Referring to Instruction 7.4,the average of all the sample proportions of customers who will make a purchase after visiting the web site is_________ .
Q4) Sales prices of matchbox cars from the 1960s are known to possess a skewed-right distribution with a mean sale price of $5.25 and a standard deviation of $2.80.Suppose a random sample of 100 cars from the 1960s is selected.Describe the sampling distribution for the sample mean sale price of the selected cars.
A) Skewed-right with a mean of $5.25 and a standard error of $2.80.
B) Normal with a mean of $5.25 and a standard error of $2.80.
C) Normal with a mean of $5.25 and a standard error of $0.28.
D) Skewed-right with a mean of $5.25 and a standard error of $0.28.
To view all questions and flashcards with answers, click on the resource link above.
Page 9
Chapter 8: Confidence Interval Estimation
Available Study Resources on Quizplus for this Chatper
186 Verified Questions
186 Flashcards
Source URL: https://quizplus.com/quiz/69282
Sample Questions
Q1) Referring to Instruction 8-20,the sampling error of a 95% confidence interval estimate of the population proportion of managers who have caught employees cheating on an expense report is ________.
Q2) Referring to Instruction 8-18,what is the needed sample size to obtain a 95% confidence interval estimate of the percentage of the targeted young adults who will purchase the new game by allowing the same level of margin of error?
Q3) Referring to Instruction 8-19,a 99% confidence interval for the proportion of student population who feel comfortable reporting cheating by their fellow students is from ________to ________.
Q4) Referring to Instruction 8-16,it is possible that the 99% confidence interval calculated from the data will not contain the proportion of student population who own a personal computer.
A)True
B)False
Q5) Referring to Instruction 8-1,we do not know for sure whether the true population mean is between 5.623 and 6.377 lawnmowers sold.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Fundamentals of Hypothesis Testing:
One-Sample Tests
Available Study Resources on Quizplus for this Chatper
180 Verified Questions
180 Flashcards
Source URL: https://quizplus.com/quiz/69283
Sample Questions
Q1) Referring to Instruction 9-4,what is the probability of making a Type II error if the mean effective time of the anaesthetic is 7.0 using a 0.05 level of significance?
Q2) Referring to Instruction 9-3,the consumer group can conclude that there is enough evidence to prove that the manufacturer's claim is not true when allowing for a 5% probability of committing a Type I error.
A)True
B)False
Q3) For a given sample size n,if the level of significance ( )is decreased,the power of the test
A) will decrease.
B) will increase.
C) will remain the same.
D) cannot be determined.
Q4) Referring to Instruction 9-9,the parameter the company officials is interested in is
A) the total number of viewers who "like the ads a lot".
B) the mean number of company officials who "like the ads a lot".
C) the proportion of viewers who "like the ads a lot".
D) the mean number of viewers who "like the ads a lot".
Page 11
To view all questions and flashcards with answers, click on the resource link above.
Chapter 10: Hypothesis Testing: Two-Sample Tests
Available Study Resources on Quizplus for this Chatper
175 Verified Questions
175 Flashcards
Source URL: https://quizplus.com/quiz/69284
Sample Questions
Q1) Suppose that 150 women and 200 men were interviewed.For a 0.01 level of significance,what is the critical value for the rejection region?
A) 3.697
B) 5.303
C) 5.698
D) 2.33
Q2) Referring to Instruction 10-2,what is the 90% confidence interval estimate for the difference between two means?
Q3) A researcher is curious about the effect of sleep on students' test performances.He chooses 60 students and gives each two tests: one given after two hours of sleep and one after eight hours of sleep.The test the researcher should use would be a related samples test.
A)True
B)False
Q4) Referring to Instruction 10-14,the null hypothesis should be rejected.
A)True
B)False
Q5) Referring to Instruction 10-6,what is the 90% confidence interval estimate for the difference in the two means?
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
148 Verified Questions
148 Flashcards
Source URL: https://quizplus.com/quiz/69285
Sample Questions
Q1) Referring to Instruction 11-4,what are the numerator and denominator degrees of freedom for Levene's test for homogeneity of variances respectively?
Q2) Referring to Instruction 11-7,what is the critical value for testing the block effects at a 0.01 level of significance?
Q3) Interaction in an experimental design can be tested in A) a two-factor model.
B) a completely randomised model.
C) a randomised block model.
D) all ANOVA models.
Q4) Referring to Instruction 11-7,based on the Tukey multiple comparison procedure with an overall level of significance of 0.01,the agronomist would decide that there is a significant difference between the crop yield of Walsh and Trevor seeds.
A)True
B)False
Q5) Referring to Instruction 11-12,the critical value in the test for significant differences between shapes is ________.
Q6) Referring to Instruction 11-3,construct the ANOVA table from the sample data.
Q7) Referring to Instruction 11-5,construct the ANOVA table from the sample data.
Page 13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Simple Linear Regression
Available Study Resources on Quizplus for this Chatper
207 Verified Questions
207 Flashcards
Source URL: https://quizplus.com/quiz/69286
Sample Questions
Q1) Referring to Instruction 12.5,the estimates of the Y-intercept and slope are ____________ and ____________,respectively.
Q2) Referring to Instruction 12.13,the coefficient of correlation is____________.
Q3) Referring to Instruction 12.38,suppose the director of cooperative education wants to obtain two 95% confidence interval estimates.One is for the mean number of job offers received by people who have had exactly one cooperative education job and one for people who have had two.The confidence interval for people who have had one cooperative education job would be the wider of the two intervals.
A)True
B)False
Q4) Assuming a linear relationship between X and Y,if the coefficient of correlation (r)equals -0.30,
A) there is no correlation.
B) the variance of X is negative.
C) variable X is larger than variable Y.
D) the slope (b<sub>1</sub>) is negative.
Q5) Referring to Instruction 12.3,set up a scatter diagram.
Q6) The residual represents the discrepancy between the observed dependent variable and its __________value.
Page 14
To view all questions and flashcards with answers, click on the resource link above.
Chapter 13: Introduction to Multiple Regression
Available Study Resources on Quizplus for this Chatper
269 Verified Questions
269 Flashcards
Source URL: https://quizplus.com/quiz/69287
Sample Questions
Q1) Referring to Instruction 13.14 Model 1,estimate the mean number of weeks being unemployed due to a layoff for a worker who is a 30-year-old,has 10 years of education,has 15 years of experience at the previous job,is married,is the head of household and is a manager.
Q2) If you have taken into account all relevant explanatory factors,the residuals from a multiple regression should be random.
A)True B)False
Q3) Referring to Instruction 13.22,what is the standard error of estimate?
Q4) Referring to Instruction 13.13,the critical value of an F test on the entire regression for a level of significance of 0.01 is ___________.
Q5) Referring to Instruction 13.20,the multiple regression model is significant at a 10% level of significance.
A)True B)False
Q6) Referring to Instruction 13.33,holding constant the effect of city,each additional increase of 1% in the mortgage rate would lead to an estimated increase of_______________ per capita in the mean demand.
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Time-Series Forecasting and Index Numbers
Available Study Resources on Quizplus for this Chatper
201 Verified Questions
201 Flashcards
Source URL: https://quizplus.com/quiz/69288
Sample Questions
Q1) Referring to Instruction 14-5,in testing the coefficient of X in the regression equation (0.117),the results were a t-statistic of 9.08 and an associated p-value of 0.0000.Which of the following is the best interpretation of this result?
A) The quarterly growth rate in the number of contracts is not significantly different than 100% (\(\alpha\) = 0.05).
B) The quarterly growth rate in the number of contracts is significantly different than 100% (\(\alpha\) = 0.05).
C) The quarterly growth rate in the number of contracts is significantly different than 0% (\(\alpha\) = 0.05).
D) The quarterly growth rate in the number of contracts is not significantly different than 0% (\(\alpha\)= 0.05).
Q2) Referring to Instruction 14-2,if this series is smoothed using exponential smoothing with a smoothing constant of 1/3,what would be the third value?
A) 68
B) 81
C) 65.33
D) 53
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
134 Verified Questions
134 Flashcards
Source URL: https://quizplus.com/quiz/69289
Sample Questions
Q1) Referring to Instruction 15-9,at 5% level of significance,there is sufficient evidence to conclude that
A) use of seat belts in motor vehicles depends on ethnic background.
B) use of seat belts in motor vehicles is related to ethnic background.
C) use of seat belts in motor vehicles is associated with ethnic background.
D) All of the above.
Q2) Referring to Instruction 15-7,what is the value of the test statistic?
Q3) Referring to Instruction 15-6,the decision made suggests that the four procedures do not all have the same proportion of clear operations.
A)True
B)False
Q4) Referring to Instruction 15-7,what is the p-value of the test statistic?
Q5) Referring to Instruction 15-8,the test will involve _______ degree(s)of freedom.
Q6) Referring to Instruction 15-12,the critical value of the test is _______.
Q7) A test for whether one proportion is higher than the other can be performed using the chi-square distribution.
A)True
B)False
Q8) Referring to Instruction 15-2,the p-value of the test is _______.
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Multiple Regression Model Building
Available Study Resources on Quizplus for this Chatper
93 Verified Questions
93 Flashcards
Source URL: https://quizplus.com/quiz/69290
Sample Questions
Q1) Calculating Cook's Distance Statistic requires the use of matrix algebra.
A)True
B)False
Q2) So that we can fit curves as well as lines by regression,we often use mathematical manipulations for converting one variable into a different form.These manipulations are called dummy variables.
A)True
B)False
Q3) Referring to Instruction 16-6,the variable X<sub>6</sub> should be dropped to remove collinearity.
A)True
B)False
Q4) Referring to Instruction 16-5,suppose the chemist decides to use a t test to determine if there is a significant difference between a linear model and a quadratic curvilinear model that includes a linear term.The p-value of the test statistic for the contribution of the quadratic curvilinear term is _______.
Q5) Applying a transformation to a data set,original values of Y of 1.6 and 4.2 become transformed values of 11.5 and 33.9.What transformation was used?
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Decision Making
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/69291
Sample Questions
Q1) Identify the payoff in this decision-making problem.
A) Four consequences resulting from the Increase/Do Not Increase and Successful/Not Successful combinations.
B) Two possibilities: (1) campaign is successful or (2) campaign is not successful.
C) Two choices: (1) increase the budget or (2) do not increase the budget.
D) The increase in sales dollars next year.
Q2) Referring to Instruction 17-2,what is the expected opportunity loss of spending 8 hours per week on average studying for the exam?
Q3) Which utility curve best represents an individual who is interested only in 'striking it rich'?
A) Risk-averter's curve
B) Risk-seeker's curve
C) Risk-neutral curve
D) It cannot be determined.
Q4) Referring to Instruction 17-7,what is the optimal action using the coefficient of variation?
Q5) Referring to Instruction 17-7,what is the expected monetary value (EMV)for Action B?
To view all questions and flashcards with answers, click on the resource link above.
Page 19
Chapter 18: Statistical Applications in Quality Management
Available Study Resources on Quizplus for this Chatper
119 Verified Questions
119 Flashcards
Source URL: https://quizplus.com/quiz/69292
Sample Questions
Q1) Referring to Instruction 18-12,an R chart is to be constructed for the weight.The center line of this R chart is located at _______
Q2) Which of the following is NOT part of the DMAIC process in Six Sigma management?
A) Do
B) Analyse
C) Control
D) Define
Q3) Referring to Instruction 18-14,construct an R chart for the time required to register.
Q4) Referring to Instruction 18-7,suppose the supervisor constructs an R chart to see if the variability in collection times is in control.What is the centre line of this R chart?
A) 20.40
B) 20.56
C) 20.00
D) 24.00
Q5) Referring to Instruction 18-4,a p control chart is to be made for these data.The estimate of the standard error of the proportion of disks with bad sectors is _______.
To view all questions and flashcards with answers, click on the resource link above.
Page 20
Chapter 19: Further Non-Parametric Tests
Available Study Resources on Quizplus for this Chatper
50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/69293
Sample Questions
Q1) Referring to Instruction 19-6,what is the critical value of the Friedman rank test for the difference in the medians at a level of significance of 0.01?
Q2) Referring to Instruction 19-3,which pair(s)of observations has a negative signed rank?
Q3) The Wilcoxon rank sum test is a non-parametric test for testing the difference between two ____from independent samples.
Q4) The Kruskal-Wallis rank test for differences in more than two medians is a nonparametric alternative to ____
A) Student's t test for independent samples
B) Wilcoxon's rank sum test for differences in two medians
C) ANOVA F test for completely randomised experiments
D) Student's t test for related samples
Q5) Referring to Instruction 19-5,the decision made at a 0.01 level of significance on the Friedman rank test for the difference in medians implies that all three medians are significantly different.
A)True
B)False
Q6) Referring to Instruction 19-3,what is the value of the test statistic?
To view all questions and flashcards with answers, click on the resource link above. Page 21