Miami Dade College
QMB 2100 Basic Business Statistics
Practice Test #3
1.
Suppose 1,600 of 2,000 registered voters sampled said they planned to vote for the Republican candidate
for president. Using the 0.95 degree of confidence, what is the interval estimate for the population
proportion (to the nearest 10th of a percent)?
A. 78.2% to 81.8%
B. 69.2% to 86.4%
C. 76.5% to 83.5%
D. 77.7% to 82.3%
2.
A sample mean is the best point estimate of _______.
A. the population standard deviation
B. the population median
C. the population mean
D. the sample standard deviation
3.
A random sample of 42 college graduates revealed that they worked an average of 5.5 years on the
job before being promoted. The sample standard deviation was 1.1 years. Using the 0.99 degree of
confidence, what is the confidence interval for the population mean?
A. 5.04 and 5.96
B. 5.06 and 5.94
C. 2.67 and 8.33
D. 4.40 and 6.60
4.
When we use a confidence interval to reach a conclusion about the population mean, we are applying a
type of reasoning or logic called __________.
A. descriptive statistics
B. the normal distribution
C. statistical inference
D. graphics
5.
University officials say that at least 70% of the voting student population supports a fee increase. If the
95% confidence interval estimating the proportion of students supporting the fee increase is [0.75, 0.85],
what conclusion can be drawn?
A. Seventy percent is not in the interval, so another sample is needed.
B. Seventy percent is not in the interval, so assume it will not be supported.
C. The interval estimate is above 70%, so infer that it will be supported.
D. Since this was not based on the population, no conclusion can be drawn.
6.
A group of statistics students decided to conduct a survey at their university to find the average (mean)
amount of time students spent studying per week. Assuming a population standard deviation of six
hours, what is the required sample size if the error should be less than a half hour with a 95% level of
confidence?
A. 554
B. 130
C. 35
D. 393
7.
A student wanted to construct a 95% confidence interval for the mean age of students in her statistics
class. She randomly selected nine students. Their average age was 19.1 years with a sample standard
deviation of 1.5 years. What is the best point estimate for the population mean?
A. 2.1 years
B. 1.5 years
C. 19.1 years
D. 9 years
8.
A sample of 50 is selected from a known population of 250 elements. The population standard deviation
is 15. Using the finite correction factor, what is the standard error of the sample means?
A. 2.89
B. 1.90
C. 2.12
D. Cannot be determined
9.
A sample of 100 students is selected from a known population of 1000 students to construct a 95%
confidence interval for the average SAT score. What correction factor should be used to compute the
standard error?
A. 0.949
B. 0.901
C. 1.96
D. Cannot be determined
10. A sample of 500 students is selected from a known population of 15000 students to construct a 99%
confidence interval for the average SAT score. What correction factor should be used to compute the
standard error?
A. 0.9499
B. 0.9832
C. 2.5760
D. Cannot be determined
11. A survey of 50 retail stores revealed that the average price of a microwave was $375, with a sample
standard deviation of $20. Assuming the population is normally distributed, what is the 95% confidence
interval to estimate the true cost of the microwave?
A. $323.40 to $426.60
B. $328.40 to $421.60
C. $350.80 to $395.80
D. $369.31 to $380.69
12. A student wanted to construct a 95% confidence interval for the mean age of students in her statistics
class. She randomly selected nine students. Their average age was 19.1 years with a sample standard
deviation of 1.5 years. What is the best point estimate for the population mean?
A. 2.1 years
B. 1.5 years
C. 19.1 years
D. 9 years
13. A survey of 25 grocery stores revealed that the average price of a gallon of milk was $2.98, with a
standard error of $0.10. What is the 98% confidence interval to estimate the true cost of a gallon of milk?
A.
B.
C.
D.
$2.73 to $3.23
$2.85 to $3.11
$2.94 to $3.02
$2.95 to $3.01
14. A sample of 25 is selected from a known population of 100 elements. What is the finite population
correction factor?
A. 8.66
B. 75
C. 0.87
D. Cannot be determined
15. What is the interpretation of a 96% confidence level?
A. There's a 96% chance that the given interval includes the true value of the population parameter.
B. Approximately 96 out of 100 such intervals would include the true value of the population parameter.
C. There's a 4% chance that the given interval does not include the true value of the population parameter.
D. The interval contains 96% of all sample means.
16. Which statement(s) is/are correct about the t distribution?
A. The mean is zero.
B. Its shape is symmetric.
C. Its dispersion is based on degrees of freedom.
D. All apply.
17. What kind of distribution is the t distribution?
A. Continuous
B. Discrete
C. Subjective
D. A z distribution
18. Of the following characteristics, the t distribution and z distribution are the same in all BUT one. Which
one is it?
A. Continuous
B. Symmetrical
C. Bell-shaped
D. Mean = 0, and standard deviation = 1
19. A university surveyed recent graduates of the English Department for their starting salaries. Four hundred
graduates returned the survey. The average salary was $25,000. The population standard deviation
was $2,500. What is the 95% confidence interval for the mean salary of all graduates from the English
Department?
A. [$22,500, $27,500]
B. [$24,755, $25,245]
C. [$24,988, $25,012]
D. [$24,600, $25,600]
20. A survey of 50 retail stores revealed that the average price of a microwave was $375 with a sample
standard deviation of $20. Assuming the population is normally distributed, what is the 99% confidence
interval to estimate the true cost of the microwave?
A. $367.42 to $382.58
B. $315.00 to $415.00
C. $323.40 to $426.60
D. $335.82 to $414.28
21. A student wanted to construct a 99% confidence interval for the mean age of students in her statistics
class. She randomly selected nine students. Their mean age was 19.1 years with a sample standard
deviation of 1.5 years. What is the 99% confidence interval for the population mean?
A. [17.42, 20.78]
B. [17.48, 20.72]
C. [14.23, 23.98]
D. [0.44, 3.80]
22. A population has a known standard deviation of 25. A simple random sample of 49 items is taken
from the selected population. The sample mean (x-bar) is 300. What is the margin of error at the 95%
confidence level?
A. 8
B. 293
C. 7
D. 308
23. Local government officials are interested in knowing if taxpayers are willing to support a school bond
initiative that will require an increase in property taxes. A random sample of 750 likely voters was taken.
Four hundred fifty of those sampled favored the school bond initiative. The 95% confidence interval for
the true proportion of voters favoring the initiative is ________.
A. [0.541, 0.639]
B. [0.400, 0.600]
C. [0.500, 0.700]
D. [0.565, 0.635]
24. Which of the following is NOT necessary to determine how large a sample to select from a population?
A.
B.
C.
D.
The level of confidence in estimating the population parameter
The size of the population
The maximum allowable error in estimating the population parameter
An estimate of the population variation
25. A sample of 25 is selected from a known population of 100 elements. What is the finite population
correction factor?
A. 8.66
B. 75
C. 0.87
D. Cannot be determined
26. A sample of 50 is selected from a known population of 250 elements. The population standard deviation
is 15. Using the finite correction factor, what is the standard error of the sample means?
A. 2.89
B. 1.90
C. 2.12
D. Cannot be determined
27. A sample of 100 students is selected from a known population of 1000 students to construct a 95%
confidence interval for the average SAT score. What correction factor should be used to compute the
standard error?
A. 0.949
B. 0.901
C. 1.96
D. Cannot be determined
28. A sample of 100 is selected from a known population of 350 elements. The population standard deviation
is 15. Using the finite correction factor, what is the standard error of the sample means?
A. 12.6773
B. 0.8452
C. 1.2695
D. Cannot be determined
29. A sample of 500 students is selected from a known population of 15000 students to construct a 99%
confidence interval for the average SAT score. What correction factor should be used to compute the
standard error?
A. 0.9499
B. 0.9832
C. 2.5760
D. Cannot be determined
30. If the alternate hypothesis states that µ ≠ 4,000, where is the rejection region for the hypothesis test?
A. In both tails
B. In the lower or left tail
C. In the upper or right tail
D. In the center
31. What are the critical values for a two-tailed test with a 0.01 level of significance when n is large and the
population standard deviation is known?
A. Above 1.960 and below -1.960
B. Above 1.645 and below -1.645
C. Above 2.576 and below -2.576
D. Above 1.000 and below -1.000
32. For a two-tailed test with a 0.05 significance level, where is the rejection region when n is large and the
population standard deviation is known?
A. Between ±1.960
B. Between ±1.645
C. Greater than +1.960 and less than -1.960
D. Greater than +1.645 and less than -1.645
33. For an alternative hypothesis: µ > 6,700, where is the rejection region for the hypothesis test located?
A. In both tails
B. In the left or lower tail
C. In the right or upper tail
D. In the center
34. Consider a right-tailed test (upper tail) and a sample size of 40 at the 95% confidence level. The value of t
is ________.
A. +2.023
B. -2.023
C. -1.685
D. +1.685
35. Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising
campaign to increase daily sales. In order to determine the effectiveness of the advertising campaign a
sample of 49 days of sales were taken. They found that the average daily sales were $6,400 per day. From
past history, the restaurant knew that its population standard deviation is about $1,000. The value of the
test statistic is _______.
A. 2.8
B. 6,000
C. 6,400
D. 1.96
36. What is a Type II error?
A. Failing to reject a false null hypothesis
B. Rejecting a false null hypothesis
C. Accepting a false alternate hypothesis
D. Rejecting a false alternate hypothesis
37. What is another name for the alternate hypothesis?
A. Null hypothesis
B. Hypothesis of no difference
C. Rejected hypothesis
D. Research hypothesis
38. If we reject the null hypothesis, what can we conclude subject to the probability, α?
A. Reject the null with a probability, α, of making a Type I error.
B. The alternative hypothesis is false.
C. The null hypothesis is true.
D. Both the null hypothesis and the alternative hypothesis are true.
39. In hypothesis testing, what is the level of significance?
A. The risk of rejecting the null hypothesis when it is true.
B. A value symbolized by the Greek letter α.
C. A value between 0 and 1.
D. It is selected before a decision rule can be formulated.
E. All apply.
40. The mean annual incomes of certified welders are normally distributed with the mean of $50,000 and a
standard deviation of $2,000. The ship building association wishes to find out whether their welders earn
more or less than $50,000 annually. The alternate hypothesis is that the mean is not $50,000. Which of
the following is the alternate hypothesis?
A. H : π ≠ $50,000
1
B. H : µ ≠ $50,000
1
C. H1: µ < $50,000
D. H1: µ = $50,000
41. A hypothesis regarding the weight of newborn infants at a community hospital is that the mean is 6.6
pounds. A sample of seven infants is randomly selected and their weights at birth are recorded as 9.0, 7.3,
6.0, 8.8, 6.8, 8.4, and 6.6 pounds. The null hypothesis is ______.
A. H0: µ = 6.6
B. H : µ ≥ 6.6
0
C. H0: µ > 7.6
D. H : µ ≤ 7.6
0
42. A hypothesis regarding the weight of newborn infants at a community hospital is that the mean is 6.6
pounds. A sample of seven infants is randomly selected and their weights at birth are recorded as 9.0, 7.3,
6.0, 8.8, 6.8, 8.4, and 6.6 pounds. What is the alternate hypothesis?
A. H1: µ = 6.6
B. H : µ ≠ 6.6
1
C. H : µ ≥ 6.6
1
D. H1: µ > 7.6
43. Sales at a fast-food restaurant average $6,000 per day. The restaurant decided to introduce an advertising
campaign to increase daily sales. In order to determine the effectiveness of the advertising campaign a
sample of 49 days of sales were taken. They found that the average daily sales were $6,400 per day. From
past history, the restaurant knew that its population standard deviation is about $1,000. The value of the
test statistic is _______.
A. 2.8
B. 6,000
C. 6,400
D. 1.96
44. A random sample of size 15 is selected from a normal population. The population standard deviation is
unknown. Assume the null hypothesis indicates a two-tailed test and the researcher decided to use the
0.10 significance level. For what values of t will the null hypothesis not be rejected?
A. To the left of -1.282 or to the right of 1.282
B. To the left of -1.345 or to the right of 1.345
C. Between -1.761 and 1.761
D. To the left of -1.645 or to the right of 1.645
45. Using a 5% level of significance and a sample size of 25, what is the critical t value for a null hypothesis,
H0: µµ ≤ 100?
A. 1.708
B. 1.711
C. 2.060
D. 2.064
46. To conduct a test of hypothesis with a small sample, we make an assumption that __________.
A. A larger computed value of t will be needed to reject the null hypothesis
B. The region of acceptance will be wider than for large samples
C. The confidence interval will be wider than for large samples
D. The population is normally distributed
47. What are the critical z-values for a two-tailed hypothesis test if α = 0.01?
A. ±1.960
B. ±2.326
C. ±2.576
D. ±1.645
48. The mean annual incomes of certified welders are normally distributed with the mean of $50,000 and a
standard deviation of $2,000. The ship building association wishes to find out whether their welders earn
more or less than $50,000 annually. The alternate hypothesis is that the mean is not $50,000. If the level
of significance is 0.10, what is the critical value?
A. +1.645
B. -1.282
C. ±1.282
D. ±1.645
49. A hypothesis regarding the weight of newborn infants at a community hospital is that the mean is 6.6
pounds. A sample of seven infants is randomly selected and their weights at birth are recorded as 9.0, 7.3,
6.0, 8.8, 6.8, 8.4, and 6.6 pounds. If α = 0.05, what is the critical t value?
A. -2.365
B. ±1.96
C. ±2.365
D. ±2.447
50. A hypothesis regarding the weight of newborn infants at a community hospital is that the mean is 6.6
pounds. A sample of seven infants is randomly selected and their weights at birth are recorded as 9.0, 7.3,
6.0, 8.8, 6.8, 8.4, and 6.6 pounds. What is the sample mean?
A. 6.6
B. 7.6
C. 1.177
D. 2.447
51. The mean weight of newborn infants at a community hospital is 6.6 pounds. A sample of seven infants
is randomly selected and their weights at birth are recorded as 9.0, 7.3, 6.0, 8.8, 6.8, 8.4, and 6.6 pounds.
Does the sample data show a significant increase in the average birthrate at a 5% level of significance?
A.
B.
C.
D.
Fail to reject the null hypothesis and conclude the mean is 6.6 lb.
Reject the null hypothesis and conclude the mean is lower than 6.6 lb.
Reject the null hypothesis and conclude the mean is greater than 6.6 lb.
Cannot calculate because the population standard deviation is unknown.
52. The mean length of a candy bar is 43 millimeters. There is concern that the settings of the machine
cutting the bars have changed. Test the claim at the 0.02 level that there has been no change in the mean
length. The alternate hypothesis is that there has been a change. Twelve bars (n = 12) were selected at
random and their lengths recorded. The lengths are (in millimeters) 42, 39, 42, 45, 43, 40, 39, 41, 40, 42,
43, and 42. The mean of the sample is 41.5 and the standard deviation is 1.784. Computed t = -2.913. Has
there been a statistically significant change in the mean length of the bars?
A. Yes, because the computed t lies in the rejection region.
B. No, because the information given is not complete.
C. No, because the computed t lies in the area to the right of -2.718.
D. Yes, because 43 is greater than 41.5.
53. A machine is set to fill the small-size packages of M&M candies with 56 candies per bag. A sample
revealed: three bags of 56, two bags of 57, one bag of 55, and two bags of 58. To test the hypothesis that
the mean candies per bag is 56, how many degrees of freedom are there?
A. 9
B. 1
C. 8
D. 7
54. A hypothesis regarding the weight of newborn infants at a community hospital is that the mean is 6.6
pounds. A sample of seven infants is randomly selected and their weights at birth are recorded as 9.0, 7.3,
6.0, 8.8, 6.8, 8.4, and 6.6 pounds. What are the degrees of freedom?
A. 7
B. 8
C. 6
D. 6.6
55. A hypothesis regarding the weight of newborn infants at a community hospital is that the mean is 6.6
pounds. A sample of seven infants is randomly selected and their weights at birth are recorded as 9.0, 7.3,
6.0, 8.8, 6.8, 8.4, and 6.6 pounds. If α = 0.05, what is the critical t value?
A. -2.365
B. ±1.96
C. ±2.365
D. ±2.447
56. Consider a left-tailed test, where the p-value is found to be 0.10. If the sample size n for this test is 49,
then the t statistic will have a value of ________.
A. +1.677
B. -1.677
C. +1.299
D. -1.299
57. Consider a right-tailed test (upper tail) and a sample size of 40 at the 95% confidence level. The value of t
is ________.
A. +2.023
B. -2.023
C. -1.685
D. +1.685
58. The probability of a Type II error is directly related to ________.
A. α
B. the standard deviation
C. the Type I error
D. the difference between the hypothesized mean and the sample mean
59. What is a Type II error?
A. Failing to reject a false null hypothesis
B. Rejecting a false null hypothesis
C. Accepting a false alternate hypothesis
D. Rejecting a false alternate hypothesis
60. If the alternate hypothesis states that µ ≠ 4,000, where is the rejection region for the hypothesis test?
A. In both tails
B. In the lower or left tail
C. In the upper or right tail
D. In the center
61. For a null hypothesis, H0: µ = 4,000, if the 1% level of significance is used and the z-test statistic is
+6.00, what is our decision regarding the null hypothesis?
A. Do not reject H0.
B. Reject H0.
C. Reject H1.
D. None Apply.
62. Which symbol represents a test statistic used to test a hypothesis about a population mean?
A. α
B. β
C. μ
D. z
63. For an alternative hypothesis: µ > 6,700, where is the rejection region for the hypothesis test located?
A. In both tails
B. In the left or lower tail
C. In the right or upper tail
D. In the center
64. The mean annual incomes of certified welders are normally distributed with the mean of $50,000 and a
standard deviation of $2,000. The ship building association wishes to find out whether their welders earn
more or less than $50,000 annually. The alternate hypothesis is that the mean is not $50,000. If the level
of significance is 0.10, what is the critical value?
A. +1.645
B. -1.282
C. ±1.282
D. ±1.645
65. A hypothesis regarding the weight of newborn infants at a community hospital is that the mean is 6.6
pounds. A sample of seven infants is randomly selected and their weights at birth are recorded as 9.0, 7.3,
6.0, 8.8, 6.8, 8.4, and 6.6 pounds. What are the degrees of freedom?
A. 7
B. 8
C. 6
D. 6.6
66. A hypothesis regarding the weight of newborn infants at a community hospital is that the mean is 6.6
pounds. A sample of seven infants is randomly selected and their weights at birth are recorded as 9.0, 7.3,
6.0, 8.8, 6.8, 8.4, and 6.6 pounds. If α = 0.05, what is the critical t value?
A. -2.365
B. ±1.96
C. ±2.365
D. ±2.447
67. When is it appropriate to use the paired difference t-test?
A. When four samples are compared at once
B. When any two samples are compared
C. When two independent samples are compared
D. When two dependent samples are compared
68. A recent study focused on the amount of money single men and women save monthly. The information is
summarized next. Assume that the population standard deviations are equal.
At the .01 significance level, do women save more money than men? What is the test statistic for this
hypothesis?
A. z-statistic
B. t-statistic
C. p-statistic
D. df-statistic
69. A recent study focused on the amount of money single men and women save monthly. The information is
summarized next. Assume that the population standard deviations are equal.
At the .01 significance level, do women save more money than men? What is the critical value for this
hypothesis test?
A. +6.213
B. +2.369
C. +2.632
D. +2.40
70. A recent study focused on the amount of money single men and women save monthly. The information is
summarized next. Assume that the population standard deviations are equal.
At the .01 significance level, do women save more money than men? What is the value of the test statistic
for this hypothesis test?
A. +6.213
B. +1.318
C. +2.632
D. +2.40
71. A recent study focused on the amount of money single men and women save monthly. The information is
summarized next. Assume that the population standard deviations are equal.
At the .01 significance level, what is the conclusion about the way women and men save?
A. Reject the null hypothesis and conclude that women save more than men.
B. Reject the null hypothesis and conclude that women and men save the same amount.
C. Fail to reject the null hypothesis.
D. Fail to reject the null hypothesis and conclude the means are different.
72. We test for a hypothesized difference between two population means: H : μ = μ . The population
0 1
2
standard deviations are unknown but assumed equal. The number of observations in the first sample is 15,
and 12 in the second sample. How many degrees of freedom are associated with the critical value?
A. 24
B. 25
C. 26
D. 27
73. For a hypothesis comparing two population means, H : μ ≤ μ what is the critical value for a one-tailed
0 1
2,
hypothesis test, using a 5% significance level, with both sample sizes equal to 13? Assume the population
standard deviations are equal.
A. ±1.711
B. +1.711
C. +2.060
D. +2.064
74. A national manufacturer of ball bearings is experimenting with two different processes for producing
precision ball bearings. It is important that the diameters be as close as possible to an industry standard.
The output from each process is sampled and the average error from the industry standard is measured in
millimeters. The results are presented next.
The researcher is interested in determining whether there is evidence that the two processes yield
different average errors. The population standard deviations are unknown but are assumed equal. What is
the null hypothesis?
A. H0: µA = µB
B. H : µ ≠ µ
0
A
B
C. H : µ ≤ µ
0 A
B
D. H0: µA > µB
75. A national manufacturer of ball bearings is experimenting with two different processes for producing
precision ball bearings. It is important that the diameters be as close as possible to an industry standard.
The output from each process is sampled and the average error from the industry standard is measured in
millimeters. The results are presented next.
The researcher is interested in determining whether there is evidence that the two processes yield
different average errors. The population standard deviations are unknown but assumed equal. What is the
alternate hypothesis?
A. H1: µA = µB
B. H : µ ≠ µ
1
A
B
C. H : µ ≤ µ
B
1 A
D. H1: µA > µB
76. A national manufacturer of ball bearings is experimenting with two different processes for producing
precision ball bearings. It is important that the diameters be as close as possible to an industry standard.
The output from each process is sampled and the average error from the industry standard is measured in
millimeters. The results are presented next.
The researcher is interested in determining whether there is evidence that the two processes yield
different average errors. The population standard deviations are unknown but are assumed equal. What
are the degrees of freedom?
A. 10
B. 13
C. 26
D. 24
77. A national manufacturer of ball bearings is experimenting with two different processes for producing
precision ball bearings. It is important that the diameters be as close as possible to an industry standard.
The output from each process is sampled and the average error from the industry standard is measured in
millimeters. The results are presented next.
The researcher is interested in determining whether there is evidence that the two processes yield
different average errors. The population standard deviations are unknown but assumed equal. What is the
critical t value at the 1% level of significance?
A. +2.797
B. -2.492
C. ±1.711
D. ±2.797
78. A national manufacturer of ball bearings is experimenting with two different processes for producing
precision ball bearings. It is important that the diameters be as close as possible to an industry standard.
The output from each process is sampled and the average error from the industry standard is measured in
millimeters. The results are presented next.
The researcher is interested in determining whether there is evidence that the two processes yield
different average errors. The population standard deviations are unknown but are assumed equal. This
example is what type of test?
A. A one-sample test of means
B. A two-sample test of means
C. A paired t-test
D. A test of proportions
79. Twenty randomly selected statistics students were given 15 multiple-choice questions and 15 open-ended
questions, all on the same material. The professor was interested in determining if students scored higher
on the multiple-choice questions. This experiment is an example of ________________.
A. A one-sample test of means
B. A two-sample test of means
C. A paired t-test
D. A test of proportions
80. Accounting procedures allow a business to evaluate their inventory costs based on two methods: LIFO
(Last In First Out) or FIFO (First In First Out). A manufacturer evaluated its finished goods inventory
(in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed
(FIFO - LIFO) for each product. Based on the following results, does the LIFO method result in a lower
cost of inventory than the FIFO method?
What is the null hypothesis?
A. H0: µd = 0
B. H : µ ≠ 0
0
d
C. H : µ ≤ 0
0 d
D. H : µ ≥ 0
0
d
81. Accounting procedures allow a business to evaluate their inventory costs based on two methods: LIFO
(Last In First Out) or FIFO (First In First Out). A manufacturer evaluated its finished goods inventory
(in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed
(FIFO - LIFO) for each product. Based on the following results, does the LIFO method result in a lower
cost of inventory than the FIFO method?
What is the alternate hypothesis?
A. H1: µd = 0
B. H : µ ≠ 0
1
d
C. H : µ ≤ 0
1 d
D. H1: µd > 0
82. An investigation of the effectiveness of a training program to improve customer relationships included a
pre-training and post-training customer survey. To compare the differences they computed (post-training
survey score - pre-training survey score). Seven customers were randomly selected and completed both
surveys. The results follow.
What is the value of the test statistic?
A. 1.943
B. 1.895
C. 2.542
D. 2.447
83. A company is researching the effectiveness of a new website design to decrease the time to access a
website. Five website users were randomly selected, and their times (in seconds) to access the website
with the old and new designs were recorded. To compare the times, they computed (new website design
time - old website design time). The results follow.
What is the value of the test statistic?
A. 2.256
B. 1.895
C. 3.747
D. 2.447
84. A company is researching the effectiveness of a new website design to decrease the time to access a
website. Five website users were randomly selected, and their times (in seconds) to access the website
with the old and new designs were recorded. To compare the times, they computed (new website design
time - old website design time). The results follow.
For a 0.01 significance level, what is the critical value?
A. 2.256
B. 1.895
C. 3.747
D. 2.447
85. Accounting procedures allow a business to evaluate their inventory costs based on two methods: LIFO
(Last In First Out) or FIFO (First In First Out). A manufacturer evaluated its finished goods inventory
(in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed
(FIFO - LIFO) for each product. Based on the following results, does the LIFO method result in a lower
cost of inventory than the FIFO method?
What are the degrees of freedom?
A. 4
B. 5
C. 15
D. 10
86. Accounting procedures allow a business to evaluate their inventory costs based on two methods: LIFO
(Last In First Out) or FIFO (First In First Out). A manufacturer evaluated its finished goods inventory
(in $000s) for five products with the LIFO and FIFO methods. To analyze the difference, they computed
(FIFO - LIFO) for each product. Based on the following results, does the LIFO method result in a lower
cost of inventory than the FIFO method?
If you use the 5% level of significance, what is the critical t value?
A. +2.132
B. ±2.132
C. +2.262
D. ±2.228
87. A recent study focused on the number of times men and women send a Twitter message in a day. The
sample information is summarized below.
At the .01 significance level, is there a difference in the mean number of times men and women send a
Twitter message in a day? What is the test statistic for this hypothesis?
A. z-statistic
B. t-statistic
C. p-statistic
D. df-statistic
88. A recent study focused on the number of times men and women send a Twitter message in a day. The
information is summarized next.
At the .01 significance level, is there a difference in the mean number of times men and women send a
Twitter message in a day? What is the p-value for this hypothesis test?
A. 0.0500
B. 0.0164
C. 0.0001
D. 0.0082
89. A recent study focused on the number of times men and women send a Twitter message in a day. The
information is summarized next.
At the .01 significance level, is there a difference in the mean number of times men and women send a
Twitter message in a day? Based on the p-value, what is your conclusion?
A. Reject the null hypothesis and conclude the means are different.
B. Reject the null hypothesis and conclude the means are the same.
C. Fail to reject the null hypothesis.
D. Fail to reject the null hypothesis and conclude the means are different.
90. Which condition must be met to conduct a test for the difference in two sample means using a z-statistic?
A.
B.
C.
D.
The data must be at least of nominal scale.
The populations must be normal.
The two population standard deviations must be known.
The samples are dependent.
91. The results of a mathematics placement exam at two different campuses of Mercy College follow:
What is the null hypothesis if we want to test the hypothesis that the mean score on Campus 1 is higher
than on Campus 2?
A. H0: µ1 = 0
B. H0: µ2 = 0
C. H0: µ1 = µ2
D. H : µ ≤ µ
0
1
2
92. The results of a mathematics placement exam at two different campuses of Mercy College follow:
What is the alternative hypothesis if we want to test the hypothesis that the mean score on Campus 1 is
higher than on Campus 2?
A. H1: µ1 = 0
B. H1: µ2 = 0
C. H1: µ1 > µ2
D. H : µ ≤ µ
1
1
2
93. The results of a mathematics placement exam at two different campuses of Mercy College follow:
Given that the two population standard deviations are known, what is the p-value?
A. 1.0
B. 0.0
C. 0.05
D. 0.95
94. The point estimate of the difference between the means of the two populations is ______.
The following table shows sample salary information for employees with bachelor's and associate degrees
for a large company in the Southeast United States.
A.
B.
C.
D.
32
9
-4.5
4.5
95. What does a coefficient of correlation of 0.70 infer?
A. There is almost no correlation because 0.70 is close to 1.0.
B. 70% of the variation in one variable is explained by the other variable.
C. The coefficient of determination is 0.49.
D. The coefficient of nondetermination is 0.30.
96. What does the coefficient of determination equal if r = 0.89?
A. 0.9412
B. 0.0121
C. 0.7921
D. 0.1100
97. Which of the following is true about the standard error of estimate?
A. It is a measure of the accuracy of the prediction.
B. It is based on squared vertical deviations between Y and X.
C. It can be negative.
D. It is calculated using the regression mean square.
98. If all the plots on a scatter diagram lie on a straight line, what is the standard error of estimate?
A. -1
B. +1
C. 0
D. Infinity
99. In the least squares equation, Ŷ = 10 + 20X, the value of 20 indicates ____________.
A. The Y-intercept increases by 20 units for each unit increase in X
B. That Y increases by 20 units for each unit increase in X
C. That X increases by 20 units for each unit increase in Y
D. The error in prediction
100.Consider a regression analysis, where the correlation coefficient is 0.18. Then, the coefficient of
determination is _______.
A. 0.36
B. 0.0324
C. 0.424
D. 1.16
101.Consider a regression and correlation analysis where r2 = 1. We know that:
A. SSE must be greater than one.
B. SSE must be greater than SS Total.
C. SSE can take on any negative or positive value.
D. SSE must equal to zero.
102.If the correlation coefficient has a negative value, then the coefficient of determination:
A. can take on either a negative or positive value.
B. must be positive.
C. will also have a negative value.
D. will equal zero.
103.In regression, the difference between the confidence interval and prediction interval formulas is
________________.
A. the prediction interval is the square root of the confidence interval
B. the addition of "1" to the quantity under the radical sign
C. the prediction interval uses r2 and the confidence interval uses r
D. no difference.
104.Which of the following are the same between a confidence interval and a prediction interval?
A. The formulas are the same.
B. They both use the standard error of estimate.
C. They both provide a confidence interval for the mean.
D. A confidence interval and prediction interval are the same width.
105.In the regression equation, what does the letter "b" represent?
A. The Y-intercept
B. The slope of the line
C. Any value of the independent variable that is selected
D. The value of Y when X = 0
106.Given the least squares regression equation, Ŷ = 1,202 + 1,133X, when X = 3, what does Ŷ equal?
A. 5,734
B. 8,000
C. 4,601
D. 4,050
107.What is the general form of the regression equation?
A. Ŷ = ab
B. Ŷ = a + (bX)
C. Ŷ = (a + b)X
D. Ŷ = abX
108.Based on the regression equation, we can _______________.
A. Predict the value of the dependent variable given a value of the independent variable
B. Predict the value of the independent variable given a value of the dependent variable
C. Measure the association between two variables
D. Measure cause and effect
109.In the equation, Ŷ = a + bX, what is Ŷ?
A.
B.
C.
D.
It is the slope of the line.
It is the Y intercept.
It is the predicted value of Y, given a specific X value.
It is the value of Y when X = 0.
110.Assume the least squares equation is Ŷ = 10 + 20X. What does the value of 10 in the equation indicate?
A.
B.
C.
D.
When X = 0, Y = 10.
X increases by 10 for each unit increase in Y.
Y increases by 10 for each unit increase in X.
It is the error of estimation.
111.Using the following information:
Estimate the value of Ŷ when X = 4.
A. 10.45
B. 3.73
C. 8.718
D. -4.092
112.Consider the following regression analysis between sales (Y in $1,000) and social media advertising (X
in dollars).
= 55,000 + 7X
The regression equation implies that an:
A. increase of $7 in advertising is associated with an increase of $7,000 in sales.
B. increase of $1 in advertising is associated with an increase of $7 in sales.
C. increase of $1 in advertising is associated with an increase of $62,000 in sales.
D. increase of $1 in advertising is associated with an increase of $7,000 in sales.
113.What is the test statistic to test the significance of the slope in a regression equation?
A. z-statistic
B. F-statistic
C. t-statistic
D. π-statistic
114.What are the degrees of freedom used to test the significance of the slope in a simple linear regression
equation?
A. n - 1
B. n - 2
C. n - 1, n - 2
D. (n - 1)(n - 2)
115.What is the alternate hypothesis to test the significance of the slope in a regression equation?
A. H : β = 0
1
B. H : β ≠ 0
1
C. H : β ≤ 0
1
D. H : β ≥ 0
1
116.The regression equation is Ŷ = 29.29 - 0.96X, the sample size is 8, and the standard error of the slope is
0.22. What is the test-statistic to test the significance of the slope?
A. z = -4.364
B. z = +4.364
C. t = -4.364
D. t = -0.960
117.The regression equation is Ŷ = 30 + 2.56X, the sample size is 14, and the standard error of the slope is
0.97. What is the test-statistic to test the significance of the slope?
A. z = -2.560
B. z = +2.639
C. t = +2.560
D. t = +2.639
118.Which of the following statements regarding the coefficient of correlation is true?
A. It ranges from 0.0 to +1.0 inclusive.
B. It describes the relationship between two variables.
C. A value of 0.00 indicates two variables are related.
D. It is calculated as the square of the slope.
119.The Pearson product-moment correlation coefficient, r, requires that variables be measured with
_____________.
A. an interval or ratio scale
B. an ordinal or ratio scale
C. a nominal or ordinal scale
D. a nominal or ratio scale
120.Which value of r indicates a stronger correlation than 0.40?
A. -0.30
B. -0.80
C. +0.38
D. 0
121.In regression, if the relationship between the dependent and independent variables is non-linear, a linear
relationship between the variables can be achieved by:
A. including an interaction term.
B. multiplying by 100.
C. rescaling the variables.
D. adding another independent variable.
122.An example of a way to rescale a variable to create a linear relationship is:
A. dividing all the values of the dependent variable by 5.
B. computing the log of all values of the dependent and independent variable.
C. adding 50 to all of the values of the dependent and independent variables.
D. adding the values of the dependent and independent variables to create a new dependent variable.
123.What is the chart called when the paired data (the dependent and independent variables) are plotted?
A. A scatter diagram
B. A bar chart
C. A pie chart
D. A histogram
124.In the regression equation, what does the letter "Y" represent?
A. The Y-intercept
B. The slope of the line
C. The independent variable
D. The dependent variable
125.Which of the following is true about the standard error of estimate?
A. It is a measure of the accuracy of the prediction.
B. It is based on squared vertical deviations between Y and X.
C. It can be negative.
D. It is calculated using the regression mean square.
126.If all the plots on a scatter diagram lie on a straight line, what is the standard error of estimate?
A. -1
B. +1
C. 0
D. Infinity
127.In the least squares equation, Ŷ = 10 + 20X, the value of 20 indicates ____________.
A. The Y-intercept increases by 20 units for each unit increase in X
B. That Y increases by 20 units for each unit increase in X
C. That X increases by 20 units for each unit increase in Y
D. The error in prediction
128.What is the variable used to predict another variable called?
A. Independent variable
B. Dependent variable
C. Important variable
D. Causal variable
129.A sales manager for an advertising agency believes that there is a relationship between the number of
contacts that a salesperson makes and the amount of sales dollars earned.
What is the dependent variable?
A. Salesperson
B. Number of contacts
C. Amount of sales dollars
D. Sales manager
130.A sales manager for an advertising agency believes that there is a relationship between the number of
contacts that a salesperson makes and the amount of sales dollars earned.
What is the independent variable?
A. Salesperson
B. Number of contacts
C. Amount of sales
D. Sales manager
131.The Simple Index P (simple price index) can be calculated by ______________.
A. dividing a base-period price by a selected period price and multiplying the result by 100
B. dividing a given period price by a base-period price and dividing the result by 100
C. dividing a given period price by a base-period price and multiplying the result by 100
D. calculating the simple average of the price relatives
132.In January 2004, the price of coffee was $0.74 per pound. By January 2011, the price of coffee had
increased to $2.63. The simple index is about ______________.
A. 0.48
B. 0.28
C. 355
D. 189
133.As chief statistician for the county, you want to compute and publish every year a special-purpose index,
which you plan to call Index of County Business Activity. Three series seem to hold promise as the basis
for the index; namely, the price of cotton, the number of new cars sold, and the rate of money turnover for
the county (published by a local bank). Arbitrarily you decide that money turnover should have a weight
of 60 percent; number of new cars sold, 30 percent; and the price of cotton, 10 percent.
What is the Index of County Business Activity for 1981 (the base year) and for 2006?
A. 100 for 1981, 139 for 2006
B. 139 for 1981, 100 for 2006
C. 100 for 1981, 61 for 2006
D. 100 for 1981, 100 for 2006
134.The Consumer Price Index is ______________.
A an annual price index published by the Bureau of Labor Statistics to measure the percent change in
. stock market indexes such as the DJIA
B a Laspeyres index that allows consumers to determine the degree to which their purchasing power is
. being eroded by price increases
C.a monthly price index that measures the change in price of a fixed market basket of goods and services
from one period to another
Dboth a Laspeyres index that allows consumers to determine the degree to which their purchasing power
. is being eroded by price increases and a monthly price index that measures the change in price of a fixed
market basket of goods and services from one period to another
135.A special-purpose aggregate price index that reflects the level of stock prices in the U.S. market is the
______________.
A. American Stock Exchange Index
B. Consumer Confidence Index
C. Customer Satisfaction Index
D. Dow Jones Industrial Average (DJIA)
136.How can indexes be classified?
A. Price
B. Quantity
C. Value
D. Weighted or unweighted
137.Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown next.
What is the unweighted aggregate price index?
A. 98.4
B. 107.0
C. 117.5
D. 128.8
138.Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown next.
What is the unweighted aggregate price index?
A. 112.70
B. 179.08
C. 111.97
D. 109.36
139.Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown next.
What is the unweighted aggregate price index?
A. 116.45
B. 116.71
C. 116.67
D. 131.56
140.An index of clothing prices for 2006 based on 1985 is to be constructed. The prices for 1985 and 2006
and the quantity consumed in 1985 are shown next.
Assuming that the number sold remained constant (i.e., the same number were sold in 2006 as in 1985),
what is the weighted index of price for 2006 using 1985 as the base?
A. 206.7
B. 214.5
C. 48.4
D. 46.6
141.Prices and the number produced for selected agricultural items are:
Using the Laspeyres method, what is the price index of agricultural production for 2006 (1980 = 100)?
A.
B.
C.
D.
42.5
129.7
117.1
85.3
142.The number of items produced and the price per item for the Duffy Manufacturing Company are:
What is the value index of production for 2006 using 1990 as the base period?
A. 115.2
B. 72.9
C. 110.6
D. 127.1
143.Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown next.
What is the Laspeyres price index?
A. 98.4
B. 107.0
C. 108.0
D. 117.5
144.Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown next.
What is Paasche's price index?
A. 98.4
B. 107.0
C. 108.0
D. 117.5
145.Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown next.
What is the value index?
A. 110.3
B. 115.6
C. 108.0
D. 118.5
146.Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown next.
What is the interpretation of the value index?
A. Value rose 28.8%.
B. Value rose 15.6%.
C. Value rose 17.5%.
D. Value rose 20.0%.
147.Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown next.
What is your interpretation of the Laspeyres price index?
A. Prices rose 98.4%.
B. Prices declined 1.6%.
C. Prices rose 7.0%.
D. Prices rose 8.0%.
148.Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown next.
What is the Laspeyres price index?
A. 112.70
B. 179.08
C. 111.97
D. 109.36
149.Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown next.
What is the Paasche price index?
A. 112.70
B. 179.08
C. 111.97
D. 109.36
150.Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown next.
What is the value index?
A. 112.70
B. 179.08
C. 111.97
D. 109.36
151.Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown next.
What is Fisher's ideal index?
A. 112.33
B. 179.08
C. 111.97
D. 109.36
152.Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown next.
What is the interpretation of the value index?
A. Value rose 9.4%.
B. Value rose 79.1%.
C. Value rose 12.7%.
D. Value rose 12.0%.
153.Data for selected fruits purchased at wholesale prices for 2005 and 2009 are shown next.
What is your interpretation of the Laspeyres price index?
A. Value rose 9.4%.
B. Value rose 79.1%.
C. Value rose 12.7%.
D. Value rose 12.0%.
154.Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown next.
What is the Laspeyres price index?
A. 116.45
B. 116.71
C. 116.67
D. 131.56
155.Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown next.
What is Paasche's price index?
A. 116.45
B. 116.71
C. 116.67
D. 131.56
156.Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown next.
What is the value index?
A. 116.45
B. 116.71
C. 116.67
D. 131.56
157.Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown next.
What is Fisher's ideal index?
A. 116.69
B. 179.08
C. 111.97
D. 109.36
158.Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown next.
What is the interpretation of the value index?
A. Value rose 16.67%.
B. Value rose 31.56%.
C. Value rose 16.71%.
D. Value rose 16.45%.
159.Data for fuel oil and gasoline purchased at wholesale prices for 2006 and 2010 are shown next.
What is your interpretation of the Laspeyres price index?
A. Value rose 16.67%.
B. Value rose 35.56%.
C. Value rose 16.71%.
D. Value rose 16.45%.
160.Which of the following statements is TRUE about price-weighted indexes?
I. The Laspeyres index uses base-period quantities as weights.
II. The Paasche index tends to underweight goods whose prices have gone down.
III. The Paasche index uses current-period quantities as weights.
A. I only
B. II only
C. I and III
D. II and III
161.A weighted price index that uses current-period quantities as weights is known as ______________.
A. Fisher's ideal index
B. Laspeyres index
C. Paasche's index
D. the value index
162.Besides measuring change in the prices of goods and services, the consumer price index has a number of
other applications such as:
A. to determine real disposable personal income.
B. to deflate sales or other data series.
C. to find the purchasing power of the dollar.
D. all of these
163.Real income is computed by:
A. dividing money income by the CPI and multiplying by 100.
B. dividing the CPI by money income and multiplying by 100.
C. multiplying money income by the CPI.
D. subtracting the CPI from money income.
164.The following is Jim Walker's income for 1995 and 2007.
What was Jim's real income for 2007?
A. $37,000
B. $67,000
C. $34,387
D. $38,908
165.The take home pay of an employee working in an urban area for 1993 and 2007 are:
If the CPI rose from 159 in 1993 to 210 in 2007 (1982-84 = 100), what was the "real" take home pay of
the employee in 2007?
A. $5,000
B. $15,000
C. $113,200
D. $53,904
166.How is the purchasing power of the dollar computed?
A. ($1/CPI) (100)
B. ($1 - CPI) (100)
C. ($1 * CPI) (100)
D. (CPI/$1) (100)
167.If the Consumer Price Index in June 2006 was about 202.9 (1982-84 = 100), what was the purchasing
power of the dollar?
A. $1.00
B. $0.33
C. $0.58
D. $0.49
168.The CPI for "personal computers and peripheral equipment" in June 2006 was 10.7 (1982-1984 = 100).
Interpret this index.
A. There was no significant increase in the price of "personal computers and peripheral equipment."
B. The price of "personal computers and peripheral equipment" increased 10.7%.
C. The price of "personal computers and peripheral equipment" decreased 89.3%.
DIf the average price of a computer in 1982-1984 was $3,000, the CPI for "personal computers and
. peripheral equipment" would predict that the price of a computer in June 2006 would be $893.
169.The CPI for "educational books and supplies" in June of 2006 was 386.7 (1982-1984 = 100). Interpret
this index.
A. There was no significant increase in the price of "educational books and supplies."
B. The price of "educational books and supplies" increased 386.7 times.
CIf the average price of a textbook in 1982-1984 was $25.00, the CPI for "educational books and
. supplies" would predict that the price of the textbook in June 2006 would be $71.68.
DIf the average price of a textbook in 1982-1984 was $25.00, the CPI for "educational books and
. supplies" would predict that the price of the textbook in June 2006 would be $96.68.
170.What does a typical market basket of goods and services include?
A. Bread
B. Beer
C. Milk
D. All of these
171.The Consumer Price Index is ______________.
A an annual price index published by the Bureau of Labor Statistics to measure the percent change in
. stock market indexes such as the DJIA
B a Laspeyres index that allows consumers to determine the degree to which their purchasing power is
. being eroded by price increases
C.a monthly price index that measures the change in price of a fixed market basket of goods and services
from one period to another
Dboth a Laspeyres index that allows consumers to determine the degree to which their purchasing power
. is being eroded by price increases and a monthly price index that measures the change in price of a fixed
market basket of goods and services from one period to another
QMB 2100 Basic Business Statistics - Practice Test #3 - Answer Key
1. A
2. C
3. A
4. C
5. C
6. A
7. C
8. B
9. A
10. B
11. D
12. C
13. A
14. C
15. B
16. D
17. A
18. D
19. B
20. A
21. A
22. C
23. D
24. B
25. C
26. B
27. A
28. C
29. B
30. A
31. C
32. C
33. C
34. D
35. A
36. A
37. D
38. A
39. E
40. B
41. A
42. B
43. A
44. C
45. B
46. D
47. C
48. D
49. D
50. B
51. C
52. A
53. D
54. C
55. D
56. D
57. D
58. D
59. A
60. A
61. B
62. D
63. C
64. D
65. C
66. D
67. D
68. B
69. B
70. B
71. C
72. B
73. B
74. A
75. B
76. D
77. D
78. B
79. C
80. C
81. D
82. C
83. A
84. C
85. A
86. A
87. A
88. B
89. C
90. C
91. D
92. C
93. B
94. B
95. C
96. C
97. A
98. C
99. B
100. B
101. D
102. B
103. B
104. B
105. B
106. C
107. B
108. A
109. C
110. A
111. D
112. D
113. C
114. B
115. B
116. C
117. D
118. B
119. A
120. B
121. C
122. B
123. A
124. D
125. A
126. C
127. B
128. A
129. C
130. B
131. C
132. C
133. A
134. D
135. D
136. D
137. D
138. D
139. A
140. B
141. B
142. D
143. A
144. B
145. B
146. B
147. B
148. C
149. A
150. B
151. A
152. B
153. D
154. B
155. C
156. D
157. A
158. B
159. C
160. C
161. C
162. D
163. A
164. D
165. D
166. A
167. D
168. C
169. C
170. D
171. D
Final Exam Summary
Category
# of Questions
AACSB: Analytic
81
AACSB: Communication
86
AACSB: Reflective Thinking
4
Accessibility: Keyboard Navigation
105
Blooms: Analyze
11
Blooms: Apply
77
Blooms: Remember
20
Blooms: Understand
63
Difficulty: 1 Easy
1
Difficulty: 2 Medium
166
Difficulty: 3 Hard
4
Learning Objective: 09-01 Compute and interpret a point estimate of a population mean.
3
Learning Objective: 09-02 Compute and interpret a confidence interval for a population mean.
12
Learning Objective: 09-03 Compute and interpret a confidence interval for a population proportion.
3
Learning Objective: 09-04 Calculate the required sample size to estimate a population proportion or population mean.
2
Learning Objective: 09-05 Adjust a confidence interval for finite populations.
9
Learning Objective: 10-03 Apply the six-step procedure for testing a hypothesis.
12
Learning Objective: 10-04 Distinguish between a one-tailed and a two-tailed test of hypothesis.
10
Learning Objective: 10-05 Conduct a test of a hypothesis about a population mean.
11
Learning Objective: 10-07 Use a t statistic to test a hypothesis.
10
Learning Objective: 10-08 Compute the probability of a Type II error.
1
Learning Objective: 118
01 Test a hypothesis that two independent population means are equal; assuming that the population standard deviations are known
and equal.
Learning Objective: 1111
02 Test a hypothesis that two independent population means are equal; with unknown population standard deviations.
Learning Objective: 11-03 Test a hypothesis about the mean population difference between paired or dependent observations.
8
Learning Objective: 11-04 Explain the difference between dependent and independent samples.
1
Learning Objective: 13-01 Explain the purpose of correlation analysis.
5
Learning Objective: 13-02 Calculate a correlation coefficient to test and interpret the relationship between two variables.
3
Learning Objective: 13-03 Apply regression analysis to estimate the linear relationship between two variables.
8
Learning Objective: 13-04 Evaluate the significance of the slope of the regression equation.
5
Learning Objective: 138
05 Evaluate a regression equations ability to predict using the standard estimate of the error and the coefficient of determination.
Learning Objective: 133
05 Evaluate a regression equations ability to predict using the standard estimate of the error and the coefficient of determination.
Learning Objective: 13-06 Calculate and interpret confidence and prediction intervals.
2
Learning Objective: 13-07 Use a log function to transform a nonlinear relationship.
2
Learning Objective: 17-01 Compute and interpret a simple; unweighted index.
3
Learning Objective: 17-02 Compute and interpret an unweighted aggregate index.
4
Learning Objective: 17-03 Compute and interpret a weighted aggregate index.
22
Learning Objective: 17-04 List and describe special-purpose indexes.
4
Learning Objective: 17-05 Apply the Consumer Price Index.
11
Lind - Chapter 09
29
Lind - Chapter 10
37
Lind - Chapter 11
28
Lind - Chapter 13
36
Lind - Chapter 17
41
Topic: Choosing an Appropriate Sample Size
2
Topic: Comparing Dependent and Independent Samples
1
Topic: Comparing Population Means with Unknown Population Standard Deviations
11
Topic: Confidence Interval for a Population Proportion
3
Topic: Confidence Intervals for a Population Mean
12
Topic: Consumer Price Index
11
Topic: Evaluating a Regression Equations Ability to Predict
8
Topic: Evaluating a Regression Equations Ability to Predict
Topic: Finite-Population Correction Factor
Topic: Interval Estimates of Prediction
Topic: Introduction
Topic: One-Tailed and Two-Tailed Tests of Significance
Topic: Point Estimate for a Population Mean
Topic: Regression Analysis
Topic: Simple Index Numbers
Topic: Six-Step Procedure for Testing a Hypothesis
Topic: Special-Purpose Indexes
Topic: Testing for a Population Mean: Known Population Standard Deviation
Topic: Testing for a Population Mean: Population Standard Deviation Unknown
Topic: Testing the Significance of the Slope
Topic: The Correlation Coefficient
Topic: Transforming Data
Topic: Two-Sample Tests of Hypothesis: Dependent Samples
Topic: Two-Sample Tests of Hypothesis: Independent Samples
Topic: Type II Error
Topic: Unweighted Indexes
Topic: Weighted Indexes
Topic: Weighted Indexes - Paasche Price Index
Topic: What is Correlation Analysis?
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9
2
1
10
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8
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12
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10
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8
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21
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