Statistics for Management Question Bank
Course Introduction
Statistics for Management explores the fundamental statistical concepts and techniques essential for effective decision-making in business environments. The course covers data collection, summarization, and interpretation, probability distributions, sampling methods, hypothesis testing, regression analysis, and forecasting. Emphasis is placed on practical applications of statistics to solve real-world management problems, enabling students to analyze data, interpret results, and make informed managerial decisions. Through case studies and statistical software tools, learners gain hands-on experience in applying statistical methodologies in various organizational contexts.
Recommended Textbook
Basic Business Statistics Global Edition 12th edition by Mark Berenson
Available Study Resources on Quizplus
19 Chapters
3610 Verified Questions
3610 Flashcards
Source URL: https://quizplus.com/study-set/755 Page 2
Chapter 1: Introduction
Available Study Resources on Quizplus for this Chatper
145 Verified Questions
145 Flashcards
Source URL: https://quizplus.com/quiz/14769
Sample Questions
Q1) The Quality Assurance Department of a large urban hospital is attempting to monitor and evaluate patient satisfaction with hospital services.Prior to discharge,a random sample of patients is asked to fill out a questionnaire to rate such services as medical care,nursing,therapy,laboratory,food,and cleaning.The Quality Assurance Department prepares weekly reports that are presented at the Board of Directors meetings and extraordinary/atypical ratings are easy to flag.True population characteristics estimated from the sample results each week are called ________.
Answer: parameters
Q2) Referring to Table 1-2,the 2,150 adults make up
A)the population.
B)the sample.
C)the parameter.
D)the statistic.
Answer: B
Q3) In purchasing an automobile,there are a number of variables to consider.The body style of the car (sedan,coupe,wagon,etc.)is an example of a ________ variable. Answer: categorical
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Organizing and Visualizing Data
Available Study Resources on Quizplus for this Chatper
210 Verified Questions
210 Flashcards
Source URL: https://quizplus.com/quiz/14770
Sample Questions
Q1) Referring to Table 2-12,construct a table of total percentages.
Answer: 11ec8d6f_af89_4daa_89e2_156024dd0cb7_TB1605_00
Q2) Referring to Table 2-11,construct a histogram for the defects data,using "0 but less than 5" as the first class.
Answer: 11ea308a_b24c_3454_a441_a15323f68261_TB1605_00
Q3) Referring to Table 2-6,of those who went bar hopping the weekend before the midterm in the sample,________ percent of them did well on the midterm.
A)15
B)27.27
C)30
D)55
Answer: C
Q4) Apple Computer,Inc.collected information on the age of their customers.The youngest customer was 12 and the oldest was 72.To study the distribution of the age among its customers,it can use a Pareto chart.
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
153 Verified Questions
153 Flashcards
Source URL: https://quizplus.com/quiz/14771
Sample Questions
Q1) Referring to Table 3-1,calculate the variance of the ages of the senior citizens correct to the nearest hundredth of a year squared.
Answer: 94.96 years²
Q2) The median of a data set with 20 items would be the average of the 10th and the 11th items in the ordered array.
A)True
B)False Answer: True
Q3) Referring to Table 3-6,compute the arithmetic mean rate of return per year. Answer: 15.30%
Q4) You were told that the 1 ,2 and 3 quartiles of female students' weight at a major university are 95 lbs,125 lbs,and 138 lbs.What percentage of the students weigh between 95 and 138 lbs?
Answer: 50 percent
Q5) Referring to Table 3-7,what is the coefficient of variation of the change in cost?
Answer: 50.29%
Q6) Referring to Table 3-4,the standard deviation of the customs data is ________. Answer: 4.3
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
171 Verified Questions
171 Flashcards
Source URL: https://quizplus.com/quiz/14772
Sample Questions
Q1) Referring to Table 4-10,when a randomly selected worker was not white,what is the probability that the worker had not claimed bias?
Q2) You know that the probability of a randomly selected student will cheat on an exam is 1%.You also know that the probability of a randomly selected student will cheat on an exam knowing that his/her fellow classmate is cheating on the exam is also 1%.Which of the following is true about the event of "the randomly selected student cheating on an exam" and "his/her classmate is cheating on the exam"?
A)They are mutually exclusive.
B)They are collectively exhaustive.
C)They are independent.
D)None of the above.
Q3) Referring to Table 4-9,if a company is selected at random,what is the probability that the company is small to mid-sized or offered stock options to their board members?
Q4) Referring to Table 4-8,what is the probability that a randomly selected student is a junior or senior who lives in a dormitory?
Q5) Referring to Table 4-11,is the preferred source of current information independent of the voting registration status?
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Discrete Probability Distributions
Available Study Resources on Quizplus for this Chatper
218 Verified Questions
218 Flashcards
Source URL: https://quizplus.com/quiz/14773
Sample Questions
Q1) Referring to Table 5-8,if you decide to choose Design A for 90% of the production lines and Design B for the remaining production lines,what is the coefficient of variation of your investment?
Q2) Referring to Table 5-8,if you decide to choose Design A for 90% of the production lines and Design B for the remaining production lines,what is the expected profit?
Q3) Referring to Table 5-2,the probability that all 3 businesses fail is ________.
Q4) Referring to Table 5-5,what is the probability out of the 8 new cars it just received that,when each is tested,exactly half of the cars have defective radios?
Q5) Referring to Table 5-8,if you decide to choose Design A for 10% of the production lines and Design B for the remaining production lines,what is the risk of your investment?
Q6) An Undergraduate Study Committee of 6 members at a major university is to be formed from a pool of faculty of 18 men and 6 women.If the committee members are chosen randomly,what is the probability that all of the members will be men?
Q7) Referring to Table 5-4,the variance of the number of accidents is ________.
Q8) Referring to Table 5-10,what is the probability that no more than two of the new employees will be from University B?
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: The Normal Distribution and Other Continuous Distributions
Available Study Resources on Quizplus for this Chatper
191 Verified Questions
191 Flashcards
Source URL: https://quizplus.com/quiz/14774
Sample Questions
Q1) It was believed that the probability of being hit by lightning is the same during the course of a thunderstorm.Which of the following distributions would you use to determine the probability of being hit by a lightning during the first half of a thunderstorm?
A)Normal distribution
B)Poisson distribution
C)Uniform distribution
D)Exponential distribution
Q2) Referring to Table 6-6,find the two values that will bound the middle 80% of the annual returns?
Q3) Suppose Z has a standard normal distribution with a mean of 0 and standard deviation of 1.The probability that Z is less than 1.15 is ________.
Q4) Referring to Table 6-2,for a given month,what is the probability that John's commission from the jewelry store is more than $9,500?
Q5) The amount of tea leaves in a can from a particular production line is normally distributed with = 110 grams and = 25 grams.What is the probability that a randomly selected can will contain between 100 and 110 grams of tea leaves?
Page 8
Q6) Referring to Table 6-4,what is the average time between consecutive hits?
To view all questions and flashcards with answers, click on the resource link above.
Chapter 7: Sampling and Sampling Distributions
Available Study Resources on Quizplus for this Chatper
197 Verified Questions
197 Flashcards
Source URL: https://quizplus.com/quiz/14775
Sample Questions
Q1) The amount of bleach a machine pours into bottles has a mean of 36 oz.with a standard deviation of 0.15 oz.Suppose we take a random sample of 36 bottles filled by this machine.The probability that the mean of the sample is between 35.95 and 35.98 oz.is ________.
Q2) If the amount of gasoline purchased per car at a large service station has a population mean of 15 gallons and a population standard deviation of 4 gallons and a random sample of 4 cars is selected,there is approximately a 68.26% chance that the sample mean will be between 13 and 17 gallons.
A)True
B)False
Q3) A manufacturer of power tools claims that the mean amount of time required to assemble their top-of-the-line table saw is 80 minutes with a standard deviation of 40 minutes.Suppose a random sample of 64 purchasers of this table saw is taken.So,the middle 95% of the sample means based on samples of size 64 will be between ________ and ________.
Q4) Referring to Table 7-5,the standard deviation of all the sample proportions of customers who will make a purchase after visiting the website is ________.
Q5) ________ results from the failure to collect data on all subjects in the sample. 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
196 Verified Questions
196 Flashcards
Source URL: https://quizplus.com/quiz/14776
Sample Questions
Q1) Referring to Table 8-3,for the confidence interval to be valid,it is necessary that test scores of students in the special study program on the actuarial exam be normally distributed.
A)True
B)False
Q2) Referring to Table 8-6,the parameter of interest to the manager is the proportion of potential customers in this sample that recognize the new product.
A)True
B)False
Q3) The difference between the sample size and the population size is called the sampling error.
A)True
B)False
Q4) The t distribution
A)assumes the population is normally distributed.
B)approaches the normal distribution as the sample size increases.
C)has more area in the tails than does the normal distribution.
D)All of the above.
Q5) Referring to Table 8-2,the confidence interval goes from ________ to ________.
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
165 Verified Questions
165 Flashcards
Source URL: https://quizplus.com/quiz/14777
Sample Questions
Q1) For a given level of significance ( ),if the sample size n is increased,the probability of a Type II error ( )
A)will decrease.
B)will increase.
C)will remain the same.
D)cannot be determined.
Q2) Referring to Table 9-9,what critical value should the president use to determine the rejection region?
Q3) Referring to Table 9-1,the manager can conclude that there is sufficient evidence to show that the mean number of defective bulbs per case is greater than 20 during the morning shift with no more than a 1% probability of incorrectly rejecting the true null hypothesis.
A)True
B)False
Q4) "What conclusions and interpretations can you reach from the results of the hypothesis test?" is not an important question to ask when performing a hypothesis test.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Two-Sample Tests
Available Study Resources on Quizplus for this Chatper
210 Verified Questions
210 Flashcards
Source URL: https://quizplus.com/quiz/14778
Sample Questions
Q1) Referring to Table 10-10,what is/are the critical value(s)when testing whether the current population proportion is higher than before if = 0.05?
A)±1.645
B)+ 1.645
C)±1.96
D)+ 1.96
Q2) F tests are one-tail tests.
A)True
B)False
Q3) In testing for differences between the means of two related populations,the null hypothesis is
A)H : D = 2.
B)H : D = 0.
C)H : D < 0.
D)H : D > 0.
Q4) Referring to Table 10-8,construct a 99% confidence interval estimate of the difference between the proportion of males and females who prefer Pepsi.
Q5) Referring to Table 10-6,there are ________ degrees of freedom for this test.
Q6) Referring to Table 10-6,the t test should be ________ -tail.
Page 12
To view all questions and flashcards with answers, click on the resource link above.
Chapter 11: Analysis of Variance
Available Study Resources on Quizplus for this Chatper
213 Verified Questions
213 Flashcards
Source URL: https://quizplus.com/quiz/14779
Sample Questions
Q1) Referring to Table 11-8,what is the p-value of the test statistic for the randomized block F test for the difference in the means?
Q2) Referring to Table 11-11,what was the total number of doctors included in the study?
A)20
B)40
C)159
D)160
Q3) Referring to Table 11-8,what is the estimated relative efficiency?
Q4) Referring to Table 11-6,based on the Tukey-Kramer 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 Smith and Trevor seeds.
A)True
B)False
Q5) Which of the following components in an ANOVA table are not additive?
A)Sum of squares
B)Degrees of freedom
C)Mean squares
D)It is not possible to tell.
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Chi-Square Tests and Nonparametric Tests
Available Study Resources on Quizplus for this Chatper
201 Verified Questions
201 Flashcards
Source URL: https://quizplus.com/quiz/14780
Sample Questions
Q1) Referring to Table 12-18,what is the p-value of the test statistic?
Q2) Referring to Table 12-7,the expected cell frequency for the Paris/No cell is ________.
Q3) Referring to Table 12-6,what is the value of the critical range for the Marascuilo procedure to test for the difference in proportions between year 2 and year 3 using a 0.05 level of significance?
Q4) When using the X² tests for independence,you should be aware that expected frequencies that are too small will lead to a large Type I error.
A)True
B)False
Q5) Referring to Table 12-12,how many children in the survey spent less than 2 hours watching TV and more than 2 hours reading storybooks on average?
A)8
B)130
C)175
D)687
Q6) Referring to Table 12-11,the value of the test statistic is ________.
Q7) Referring to Table 12-17,the calculated value of the test statistic is ________.
Page 14
To view all questions and flashcards with answers, click on the resource link above.
Chapter 13: Simple Linear Regression
Available Study Resources on Quizplus for this Chatper
213 Verified Questions
213 Flashcards
Source URL: https://quizplus.com/quiz/14781
Sample Questions
Q1) Referring to Table 13-6,which of the following statements is true?
A)If attendance increases by 0.341%,the estimated mean score received will increase by 1 percentage point.
B)If attendance increases by 1%,the estimated mean score received will increase by 39.39 percentage points.
C)If attendance increases by 1%,the estimated mean score received will increase by 0.341 percentage points.
D)If the score received increases by 39.39%,the estimated mean attendance will go up by 1%.
Q2) Referring to Table 13-12,the value of the measured t test statistic to test whether the amount of time depends linearly on the number of loan applications recorded is A)0.8924.
B)3.2559.
C)15.2388.
D)232.2200.
Q3) Referring to Table 13-13,the error sum of squares (SSE)of the above regression is ________.
Q4) Referring to Table 13-4,the coefficient of correlation is ________.
To view all questions and flashcards with answers, click on the resource link above.
Page 15
Chapter 14: Introduction to Multiple Regression
Available Study Resources on Quizplus for this Chatper
355 Verified Questions
355 Flashcards
Source URL: https://quizplus.com/quiz/14782
Sample Questions
Q1) Referring to Table 14-1,for these data,what is the estimated coefficient for the variable representing scores on the aptitude test,b ?
A)0.998
B)3.103
C)4.698
D)21.293
Q2) An interaction term in a multiple regression model may be used when A)the coefficient of determination is small.
B)there is a curvilinear relationship between the dependent and independent variables. C)neither one of 2 independent variables contribute significantly to the regression model.
D)the relationship between X and Y changes for differing values of X .
Q3) Referring to Table 14-2,for these data,what is the value for the regression constant,b ?
A)0.616
B)1.054
C)6.932
D)9.103
Q4) Referring to Table 14-17 Model 1,what is the standard error of estimate?
To view all questions and flashcards with answers, click on the resource link above.
Page 16
Chapter 15: Multiple Regression Model Building
Available Study Resources on Quizplus for this Chatper
96 Verified Questions
96 Flashcards
Source URL: https://quizplus.com/quiz/14783
Sample Questions
Q1) Using the Cp statistic in model building,all models with Cp (k + 1)are equally good.
A)True
B)False
Q2) One of the consequences of collinearity in multiple regression is inflated standard errors in some or all of the estimated slope coefficients.
A)True
B)False
Q3) Referring to Table 15-5,there is reason to suspect collinearity between some pairs of predictors based on the values of the variance inflationary factor.
A)True
B)False
Q4) Which of the following is used to find a "best" model?
A)Odds ratio
B)Mallow's Cp
C)Standard error of the estimate
D)SST
Q5) Referring to Table 15-5,what is the value of the variance inflationary factor of SUV?
To view all questions and flashcards with answers, click on the resource link above.
17
Chapter 16: Time-Series Forecasting
Available Study Resources on Quizplus for this Chatper
168 Verified Questions
168 Flashcards
Source URL: https://quizplus.com/quiz/14784
Sample Questions
Q1) Referring to Table 16-3,if this series is smoothed using exponential smoothing with a smoothing constant of 1/3,how many values would it have?
D)6
Q2) Referring to Table 16-5,the number of arrivals will be smoothed with a 5-term moving average.The last smoothed value will be ________.
Q3) Referring to Table 16-10,the residuals for the second-order autoregressive model are ________,________,________,and ________.
Q4) A second-order autoregressive model for average mortgage rate is: Rate = - 2.0 + 1.8(Rate) - 0.5 (Rate) . If the average mortgage rate in 2010 was 7.0,and in 2009 was 6.4,the forecast for 2012 is
Q5) Referring to Table 16-7,the forecast for the demand in 2012 is ________.
Q6) Referring to Table 16-4,exponential smoothing with a weight or smoothing constant of 0.2 will be used to smooth the wine sales.The value of E ,the smoothed value for 2006 is ________.
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Statistical Applications in Quality Management
Available Study Resources on Quizplus for this Chatper
133 Verified Questions
133 Flashcards
Source URL: https://quizplus.com/quiz/14785
Sample Questions
Q1) Referring to Table 17-3,suppose the analyst constructs an R chart to see if the variability in production times is in-control.What is the lower control limit for this R chart?
A)4.84
B)3.37
C)2.98
D)1.34
Q2) The smaller the capability index,the more capable a process is of meeting customer requirements.
A)True
B)False
Q3) Referring to Table 17-3,suppose the analyst constructs an R chart to see if the variability in production times is in-control.What is the upper control limit for this R chart?
A)10.66
B)9.37
C)7.98
D)6.34
Q4) Referring to Table 17-7,what percentage of the chips will fall below the upper specification limit?
To view all questions and flashcards with answers, click on the resource link above.
19
Chapter 18: A Roadmap for Analyzing Data
Available Study Resources on Quizplus for this Chatper
54 Verified Questions
54 Flashcards
Source URL: https://quizplus.com/quiz/14786
Sample Questions
Q1) A contractor wants to forecast the number of contracts in future quarters,using quarterly data on number of contracts during the 10-year period from 2001 to 2010.Which of the following would be the most appropriate analysis to perform?
A)Autoregressive modeling
B)One-way ANOVA
C)Least-squares forecasting with monthly or quarterly data
D)Two-way ANOVA
Q2) A survey was conducted to determine how people rated the quality of programming available on television.Respondents were asked to rate the overall quality from 0 (no quality at all)to 100 (extremely good quality).A cumulative percentage polygon (ogive)can be used to present this information.
A)True
B)False
Q3) Data were collected on the amount of detergent used in gallons in a month by 25 drive-through car wash operations in Phoenix.You can use a time-series plot to present this information.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 20
Chapter 19: Questions that Involve Online Topics
Available Study Resources on Quizplus for this Chatper
321 Verified Questions
321 Flashcards
Source URL: https://quizplus.com/quiz/14787
Sample Questions
Q1) Blossom's Flowers purchases roses for sale for Valentine's Day.The roses are purchased for $10 a dozen and are sold for $20 a dozen.Any roses not sold on Valentine's Day can be sold for $5 per dozen.The owner will purchase 1 of 3 amounts of roses for Valentine's Day: 100,200,or 400 dozen roses.Given 0.2,0.4,and 0.4 are the probabilities for the sale of 100,200,or 400 dozen roses,respectively,then the EVPI for buying roses is
A)$700.
B)$1,500.
C)$1,900.
D)$2,600.
Q2) Referring to Table 16-2,what is the unweighted aggregate price index for the basket of four food items in 2010 using 2006 as the base year?
Q3) Referring to Table 9-2,if you select a sample of 20 compact microwave ovens and are willing to have a level of significance of 0.01,the probability of making a Type II error is ________ if the mean power consumption of all such microwave ovens is in fact 248 W.
Q4) Referring to Table 7-2,the standard error of all the sample proportions of customers who will make a purchase after visiting the website is ________.
To view all questions and flashcards with answers, click on the resource link above.
21