Business and Statistics 714 practice questions Set 3

.docx

School

University of Benin *

*We aren’t endorsed by this school

Course

714

Subject

Statistics

Date

May 24, 2024

Type

docx

Pages

6

Uploaded by contentJoh

Report
Business and Statistics 714 practice questions Set 3 1. Which measure of central tendency is calculated by adding all the numbers in a data set and then dividing by the count of numbers? a) Mean b) Median c) Mode d) Range Correct Answer: a) Mean 2. In probability, a mutually exclusive event is one that: a) Can occur simultaneously with another event b) Cannot occur simultaneously with another event c) Has a probability of zero d) Has a probability of one Correct Answer: b) Cannot occur simultaneously with another event 3. The standard error of the mean is calculated as: a) Standard deviation divided by the sample size b) Standard deviation multiplied by the sample size c) Standard deviation divided by the square root of the sample size d) Standard deviation squared Correct Answer: c) Standard deviation divided by the square root of the sample size 4. What is the probability of getting heads in a single coin toss? a) 0.25 b) 0.5
c) 0.75 d) 1.0 Correct Answer: b) 0.5 5. Which of the following is an ordinal variable? a) Temperature in Celsius b) Marital status c) Education level (high school, bachelor's, master's) d) Gender Correct Answer: c) Education level (high school, bachelor's, master's) 6. The main purpose of a regression analysis is to: a) Measure the central tendency of a data set b) Test for differences between groups c) Predict the value of a dependent variable based on an independent variable d) Calculate probabilities Correct Answer: c) Predict the value of a dependent variable based on an independent variable 7. What does a z-score represent in a normal distribution? a) The standard deviation of the distribution b) The probability of an event c) The number of standard deviations a data point is from the mean d) The variance of the distribution Correct Answer: c) The number of standard deviations a data point is from the mean 8. If the mean of a data set is 20 and the standard deviation is 5, what is the z-score of a value of 30?
a) 1 b) 2 c) -1 d) -2 Correct Answer: b) 2 9. In hypothesis testing, the alternative hypothesis represents: a) No effect or difference b) The effect or difference we are testing for c) The null hypothesis d) The test statistic Correct Answer: b) The effect or difference we are testing for 10. Which of the following is an example of a nominal variable? a) Age b) Income c) Religion d) Height Correct Answer: c) Religion 11. A time series plot is used to visualize: a) The relationship between two variables b) The distribution of a single variable c) Data points over time d) The correlation between multiple variables Correct Answer: c) Data points over time 12. The law of large numbers states that:
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help
Recommended textbooks for you
Text book image
College Algebra
Algebra
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Text book image
College Algebra
Algebra
ISBN:9781337282291
Author:Ron Larson
Publisher:Cengage Learning
Text book image
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
SEE MORE TEXTBOOKS
Recommended textbooks for you
Text book image
College Algebra
Algebra
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Text book image
College Algebra
Algebra
ISBN:9781337282291
Author:Ron Larson
Publisher:Cengage Learning
Text book image
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
SEE MORE TEXTBOOKS