Statistical Analysis Online Exam 1, 2 and 3

Question 1 (5 points)

 

In a survey undertaken by a university to gauge student satisfaction in its online MBA program, one question asked students to indicate the number of credits they had transferred into the program. Which of the following is TRUE?

Question 1 options:

	This variable is categorical.
	This variable is transactional.
	This variable is quantitative.
	This is an identifier variable.

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Question 2 (5 points)

 

A popular travel magazine regularly reviews hotels worldwide. In a recent issue, it focused on hotels in Hawaii. Among the variables for which it provided data was the price range for rooms with an ocean view. Which of the following statements is TRUE?

Question 2 options:

	This data is transactional.
	This variable is quantitative and the units are $.
	This variable is quantitative and the units are number of rooms.
	This variable is qualitative and ordinal.

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Question 3 (5 points)

 

In a survey undertaken by a university to gauge student satisfaction in its online MBA program, one question asked students to indicate their employment status (unemployed, employed part-time, employed full-time). Which of the following is TRUE?

Question 3 options:

	This variable is categorical.
	This variable is quantitative.
	This is an identifier variable.
	Both A and C

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Question 4 (5 points)

 

Which of the following is (are) time series data?

Question 4 options:

	Weekly receipts at a clothing boutique
	Monthly demand for an automotive part
	Quarterly sales of automobiles
	All of the above

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Question 5 (5 points)

 

The Pew Internet & Life Project study about online shopping asked respondents to indicate their education level on the following scale: Less than High School, High School, Some College, College +. Which of the following statements is (are) true?

Question 5 options:

	Education level is a categorical variable.
	Education level is nominal scaled.
	Education level is ordinal scaled.
	Both A and C

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Question 6 (5 points)

 

When working in the field of statistics, there is __________ right answer.

Question 6 options:

	one
	more than one
	no reliable
	never one

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Question 7 (5 points)

 

A popular travel magazine regularly reviews hotels worldwide. In a recent issue, it focused on hotels in Hawaii. Among the variables for which it provided data was whether or not the hotel included a spa. This is a:

Question 7 options:

	quantitative variable.
	identifier variable.
	ordinal variable.
	categorical variable.

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Question 8 (5 points)

 

A locally owned spa, Alexander's, is interested in adding a tea room that not only offers specialty teas but an organic lunch menu. In order to determine how many of its regular customers would be interested in such an addition, Alexander's sent out a short email questionnaire. The source of this data is:

Question 8 options:

	the Internet.
	transactional.
	a designed survey.
	a designed experiment.

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Question 9 (5 points)

 

Consumer Reports Health routinely compares drugs in terms of effectiveness and safety. In summer 2008, they reviewed drugs used to treat arthritis. Information was reported on convenience of use (how many pills required each day), possible side effects (e.g., dizziness, stomach upset), cost, and ratings of effectiveness in relieving symptoms (very effective, somewhat effective, not effective). In the above example, describe the "who ."

Question 9 options:

	Consumer reports
	Cost and ratings
	Drugs to treat arthritis currently on the market
	Effectiveness

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Question 10 (5 points)

 

For each of the following, indicate whether the data are cross-sectional or time series:

Weekly receipts at a clothing boutique

Monthly demand for an automotive part

Percentage of adults who bank online

Question 10 options:

	Time series, cross-sectional, time series
	Time series, time series, cross-sectional
	Cross-sectional, cross-sectional, time series
	Time series, cross-sectional, cross-sectional series

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Question 11 (5 points)

 

The mission of the Pew Internet & Life Project is to "explore the impact of the Internet on families, communities, work, home, and daily life." In August – September 2007 they conducted telephone interviews with a sample of American adults aged 18 and older about online shopping. What is the "how " in the above example?

Question 11 options:

	Exploring
	Sampling
	Online shopping
	Telephone interviews

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Question 12 (5 points)

 

According to your text, which of the following ways is the best way to analyze student perceptions of business ethics?

Question 12 options:

	Administering a survey to every student in the United States
	Administering a survey to every student in the state you are studying
	Obtaining survey responses from every student in the state you are studying
	Obtaining survey responses from a smaller, representative group of students

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Question 13 (5 points)

 

Which of the following statements is TRUE?

Question 13 options:

	Variables can either be labeled as quantitative or categorical and do not take on different roles.
	When the values are numbers, the variable is always quantitative.
	The context of the data is always important for analysis.
	None of the above statements are true.

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Question 14 (5 points)

 

A university is interested in gauging student satisfaction in its online MBA program. A survey is designed and administered via the Internet to a sample of students currently active in the program. Which of the following would best describe the cases?

Question 14 options:

	Participants
	Respondents
	Experimental Units
	Subjects

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Question 15 (5 points)

 

Statistics is a field where __________ matter(s).

Question 15 options:

	only reasoning
	only computations
	reasoning and calculations
	guessing and checking

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Question 16 (5 points)

 

Consumer Reports Health routinely compares drugs in terms of effectiveness and safety. In summer 2008, they reviewed drugs used to treat arthritis. Information was reported on convenience of use (how many pills required each day), possible side effects (e.g., dizziness, stomach upset), cost, and ratings of effectiveness in relieving symptoms (very effective, somewhat effective, not effective). In the above example, describe the "what ."

Question 16 options:

	Convenience of use, side effects, cost, effectiveness ratings.
	Drugs to treat arthritis currently on the market
	Consumer reports
	Arthritis

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Question 17 (5 points)

 

A locally owned spa, Alexander's, is interested in adding a tea room that not only offers specialty teas but an organic lunch menu. In order to determine how many of its regular customers would be interested in such an addition, Alexander's sent out a short email questionnaire. One question asked its customers to indicate how much they spend monthly on all natural, organic products. This data is:

Question 17 options:

	cross-sectional.
	time series.
	categorical.
	transactional.

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Question 18 (5 points)

 

Which of the following is (are) based on cross sectional data?

Question 18 options:

	Company quarterly profits
	Percentage of American adults who work full time
	Historical closing stock prices
	All of the above

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Question 19 (5 points)

 

Statistics often requires __________ and the decisions based on __________ may influence people's health and even their lives.

Question 19 options:

	facts; statistical analysis
	judgment; guesses
	facts; guesses
	judgment; statistical analysis

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Question 20 (5 points)

 

A mid-priced chain of hotels, Hometown Suites, strives to make its guests "feel at home" by providing amenities such as microwaves in every room. Comment cards are used to get feedback on the importance of such amenities by asking guests to rate them using the scale: ___ Essential ___ Important ___ Not Important. This data is:

Question 20 options:

	qualitative.
	nominal.
	ordinal.
	Both A and C   Question 1 (5 points)   Two of the questions asked in a survey of customers are shown below. Given the prevalence of identity theft, are you reluctant to provide credit card information online? Are you confident that any information you provide online is secure? Are the above questions appropriately worded? Question 1 options: Yes, they are both valid. No, both are neutral. No, one is valid and the other is not. It cannot be determined by the information given. Save Question 2 (5 points)   The administration of a large university is interested in learning about the types of wellness programs that would interest its employees. To do this, they plan to survey a random sample of employees. Under consideration are several plans for selecting the sample. Name the sampling strategy for the following: There are five categories of employees (administration, faculty, professional staff, clerical, and maintenance). Randomly select ten individuals from each category. Question 2 options: Cluster Stratified Systematic Simple Random Sample Save Question 3 (5 points)   Two of the questions asked in a survey of employees are shown below. Use these questions to make the best answer choice below. Since exercise is so important to good health, would you be willing to participate in organized walks during lunch hour? Would you attend a "low fat cooking" demonstration? Question 3 options: Both are leading questions. Neither are leading questions. First question is leading, the second question is neutral. First questions is neutral, the second question is leading. Save Question 4 (5 points)   ASW, a regional shoe chain, has recently launched an online store. Sales via the Internet have been sluggish compared to their brick and mortar stores, and management suspects that its regular customers have concerns regarding the security of online transactions. To determine if this is the case, they plan to survey a random sample of their regular customers. Under consideration are several plans for selecting the sample. Name the sampling strategy for the following: ASW has an alphabetized list of regular customers who belong to their rewards program. After randomly selecting a customer on the list, every 25th customer from that point on is chosen to be in the sample. Question 4 options: Simple Random Sample Stratified Cluster Systematic Save Question 5 (5 points)   ASW, a regional shoe chain, has recently launched an online store. Sales via the Internet have been sluggish compared to their brick and mortar stores, and management suspects that its regular customers have concerns regarding the security of online transactions. To determine if this is the case, they plan to survey a random sample of their regular customers. Under consideration are several plans for selecting the sample. Name the sampling strategy for the following: Customers are grouped into four age categories (under 21, 21 to 35, 36 to 50, and over 50). Randomly select 10 regular customers in each age category. Question 5 options: Simple Random Sample Stratified Cluster Systematic Save Question 6 (5 points)   ASW, a regional shoe chain, has recently launched an online store. Sales via the Internet have been sluggish compared to their brick and mortar stores, and management suspects that its regular customers have concerns regarding the security of online transactions. To determine if this is the case, they plan to survey a random sample of their regular customers. How might the results be biased? Question 6 options: Online security efforts have not been outlined. There is no bias using random samples. Not all future customers belong to the rewards program. Not all regular customers belong to the rewards program and ASW should also consider how others (potential customers) feel. Save Question 7 (5 points)   ASW, a regional shoe chain, has recently launched an online store. Sales via the Internet have been sluggish compared to their brick and mortar stores, and management suspects that its regular customers have concerns regarding the security of online transactions. To determine if this is the case, they plan to survey a random sample of their regular customers. The parameter can be defined as the percentage of: Question 7 options: customers, both regular and potential ASW customers who may have security concerns customers that will be targeted by marketing potential ASW customers who have concerns about online security regular ASW customers who have concerns about online security Save Question 8 (5 points)   A large national retailer of electronics conducted a survey to determine consumer preferences for various brands of digital cameras and the data is summarized in the table shown below. Female Male Total Sony Cyber-Shot 73 59 132 Kodak - Easy Share 49 47 96 Cannon Power Shot 58 33 91 Pentax 37 41 78 Olympus 45 28 73 Other Brands 86 67 153 Total 348 275 623 The percentage of consumers who are male and prefer Pentax is: Question 8 options: 6.6 % 14.9% 44.1% 52.6% Save Question 9 (5 points)   ASW, a regional shoe chain, has recently launched an online store. Sales via the Internet have been sluggish compared to their brick and mortar stores, and management suspects that its regular customers have concerns regarding the security of online transactions. To determine if this is the case, they plan to survey a random sample of their regular customers. One member of the management team at ASW suggests that their survey could be conducted online. Customers logging on to the online store would be asked to take a few minutes to complete the survey and would be offered a coupon as incentive to participate. Explain how this approach might be biased. Question 9 options: There is no bias. The bias is toward having concerns about online security. The bias would probably be toward not having concerns about online security. This is not considered a voluntary response sample. Save Question 10 (5 points)   The administration of a large university is interested in learning about the types of wellness programs that would interest its employees. To do this, they plan to survey a random sample of employees. Under consideration are several plans for selecting the sample. Name the sampling strategy for the following: The HR Department has an alphabetized list of newly hired employees (hired within the last five years). After starting the process by randomly selecting an employee from the list, then every 5th name is chosen to be included in the sample. Question 10 options: Cluster Stratified Systematic Simple Random Sample Save Question 11 (5 points)   A consumer research group is interested in how older drivers view hybrid cars. Specifically, they wish to assess the percentage of drivers in the U.S. 50 years of age or older who intend to purchase a hybrid in the next two years. They used a list of AARP (American Association of Retired Persons) members as the sampling frame. Based on a systematic sample, they estimated the percentage to be 17%. What is the statistic? Question 11 options: 50 years of age or older 17% based on the sample In the next 2 years Older drivers Save Question 12 (5 points)   ASW, a regional shoe chain, has recently launched an online store. Sales via the Internet have been sluggish compared to their brick and mortar stores, and management suspects that its regular customers have concerns regarding the security of online transactions. To determine if this is the case, they plan to survey a random sample of their regular customers. Define the target population. Question 12 options: ASW Sales on the Internet All regular ASW customers All potential ASW customers Save Question 13 (5 points)   An automobile marketing firm conducts a study to see what types of cars people owned before buying an American car. The results are shown below. Previous Ownership Frequency American 760 Japanese 375 Korean 72 German 37 Other 24 Total 1268 The relative frequency of those who owned Japanese cars previously who now bought American cars is: Question 13 options: 59.9 % 29.6% 14.9% 5.7% Save Question 14 (5 points)   A large national retailer of electronics conducted a survey to determine consumer preferences for various brands of digital cameras and the data are summarized in the table shown below. Female Male Total Sony Cyber-Shot 73 59 132 Kodak - Easy Share 49 47 96 Cannon Power Shot 58 33 91 Pentax 37 41 78 Olympus 45 28 73 Other Brands 86 67 153 Total 348 275 623 Of the consumers who prefer Pentax, what percentage is male? Question 14 options: 6.6 % 14.9% 44.1% 52.6% Save Question 15 (5 points)   A full service brokerage firm gathered information on how their clients were investing for retirement. Based on age, clients were categorized according to where the largest percentage of their retirement portfolio was invested and shown in the table below. Age 50 or Younger Over Age 50 Total Mutual Funds 30 34 64 Stocks 37 45 82 Bonds 19 23 42 Total 86 102 188 What percentage of the clients is over age 50 who invests in mutual funds? Question 15 options: 53.1% 34% 33.3% 18.1% Save Question 16 (5 points)   The area principle: Question 16 options: tells us that an inverse relationship exists between the graph and magnitude of the value it represents. explains that the data is percentages of individuals in categories. shows the distribution of one variable for just those cases that satisfy a condition. says that the area occupied by a part of a graph should directly correspond to the magnitude of the value it represents. Save Question 17 (5 points)   A large national retailer of electronics conducted a survey to determine consumer preferences for various brands of digital cameras and the data are summarized in the table shown below. Female Male Total Sony Cyber-Shot 73 59 132 Kodak - Easy Share 49 47 96 Cannon Power Shot 58 33 91 Pentax 37 41 78 Olympus 45 28 73 Other Brands 86 67 153 Total 348 275 623 Of the consumers who are male, the percentage who prefer Pentax is: Question 17 options: 52.6 % 44.1% 14.9% 6.6% Save Question 18 (5 points)   A consumer research group is interested in how older drivers view hybrid cars. Specifically, they wish to assess the percentage of drivers in the U.S. 50 years of age or older who intend to purchase a hybrid in the next two years. They used a list of AARP (American Association of Retired Persons) members as the sampling frame. Based on a systematic sample, they estimated the percentage to be 17%. Define the parameter. Question 18 options: % who intend to purchase a hybrid in the next two years % of people buying a hybrid in the future Number of drivers in the U.S. 50 years of age or older Number of people in the U.S. 50 years of age or older Save Question 19 (5 points)   Two of the questions asked in a survey of customers are shown below. Given the prevalence of identity theft, are you reluctant to provide credit card information online? Are you confident that any information you provide online is secure? Which of the above questions is leading and/or neutral? Question 19 options: Both are leading questions. Both are neutral questions. The first question is neutral and the second question is leading. The first question is leading and the second question is neutral. Save Question 20 (5 points)   A consumer research group is interested in how older drivers view hybrid cars. Specifically, they wish to assess the percentage of drivers in the U.S. 50 years of age or older who intend to purchase a hybrid in the next two years. They used a list of AARP (American Association of Retired Persons) members as the sampling frame. Based on a systematic sample, they estimated the percentage to be 17%. Define the target population. Question 20 options: A consumer research group Hybrid cars All U.S. drivers 50 or older AARP list   Question 1 (5 points)   Data was collected on monthly sales revenues (in $1,000s) and monthly advertising expenditures ($100s) for a sample of drug stores. The regression line relating revenues (Y) to advertising expenditure (X) is estimated to be yˆ = -48.3 + 9.00x. The predicted sales revenue for a month in which $1,000 was spent on advertising is: Question 1 options: $851.70. $8,951.70. $41,700. $50,000. Save Question 2 (5 points)   Suppose a marketing manager who was earning $129,420 got a raise and is now earning $140,000. How would this change affect the mean? Question 2 options: Increase Decrease Stay the same Cannot be determined Save Question 3 (5 points)   For the following question, indicate the predictor variable and the response variable: A study examined consumption levels of oil and carbon dioxide emissions for a sample of counties. Question 3 options: Carbon dioxide emissions is the predictor variable, and oil consumption is the response variable. Oil consumption is the predictor variable, and carbon dioxide emissions is the response variable. Both are predictor variables. Both are response variables. Save Question 4 (5 points)   For the following question, indicate the predictor variable and the response variable: Data were collected on job performance rating and hours of training for a sample of employees at a telecommunications repair facility. Question 4 options: Hours of training is the response variable and job performance is the predictor variable. Job performance is the response variable and hours of training is the predictor variable. Both are predictor variables. Both are response variables. Save Question 5 (5 points)   A boxplot shows data from the Northeast, Southeast, and the West. Northeast: Sales from $120,000-$170,000; Median sales $152,000. Southeast: Sales from $68,000-$105,000; Median sales $82,000 West: Sales from $68,000-$170,000; Median sales $82,000 Which region has the lowest median sales revenue? Question 5 options: Northeast Southeast West Northeast and West are the same. Save Question 6 (5 points)   A small independent organic food store offers a variety of specialty coffees. To determine whether price has an impact on sales, the managers kept track of how many pounds of each variety of coffee were sold last month. Mean $8.75 54.40 Standard Deviation $3.63 18.33 Correlation -0.927 Based on the summary statistics shown below, what percent of the variability in the number of pounds of coffee sold per week can be explained by price? Question 6 options: 55.6% 85.9% 95.47% 100% Save Question 7 (5 points)   The following table shows data on total assets ($ billion) for a small sample of U.S. banks. Prepare a stem and leaf display. BANK ASSETS ($ billion) Bank of New York 88 Regions Financial 80 Fifth Third Bank 58 State Street Bank and Trust 92 Branch Banking and Trust Company 81 Chase Bank 70 Key Bank 89 PNC Bank 84 What is the mean? Question 7 options: $112.25 billion $96 billion $80.25 billion $75.50 billion Save Question 8 (5 points)   Data was collected on monthly sales revenues (in $1,000s) and monthly advertising expenditures ($100s) for a sample of drug stores. The regression line relating revenues (Y) to advertising expenditure (X) is estimated to be yˆ = -48.3 + 9.00x. The correct interpretation of the slope is that for each additional: Question 8 options: $1 spent on advertising, predicted sales revenue increases by $9,000. $100 spent on advertising, predicted sales revenue increases by $9,000. $100 spent on advertising, predicted sales revenue decreases by $9,000. $1,000 in sales revenue, advertising expenditures decrease by $48.30. Save Question 9 (5 points)   What does it mean when the correlation between stock price and EPS is .875? Question 9 options: Positive and strong Positive and weak Negative and strong Negative and very weak Save Question 10 (5 points)   For the following question, indicate the predictor variable and the response variable: Salary data as well as years of managerial experience were collected for a sample of executives in the high tech industry. Question 10 options: Years of experience is the response variable, and salary is the predictor variable. Salary is the response variable, and years of experience is the predictor variable. Both are predictor variables. Both are response variables. Save Question 11 (5 points)   A supermarket chain gathers data on the amount they spend on promotional material (e.g., coupons, etc.) and sales revenue generated each quarter. The predictor variable is: Question 11 options: sales revenue. amount spent on promotional material. number of coupons offered. supermarket chains. Save Question 12 (5 points)   Shown below is a correlation table showing correlation coefficients between stock price, earnings per share (EPS), and price/earnings (P/E) ratio for a sample of 19 publicly traded companies. Correlations: Stock Price, EPS, PE Stock Price EPS EPS 0.875 PE 0.323 -0.111 What is the correlation between EPS and PE? Question 12 options: -.111 .111 -.999 .999 Save Question 13 (5 points)   Shown below is a correlation table showing correlation coefficients between stock price, earnings per share (EPS), and price/earnings (P/E) ratio for a sample of 19 publicly traded companies. Correlations: Stock Price, EPS, PE Stock Price EPS EPS 0.875 PE 0.323 -0.111 What is the correlation between stock price and PE? Question 13 options: -.111 .111 -.323 .323 Save Question 14 (5 points)   The following table shows data on total assets ($ billion) for a small sample of U.S. banks. BANK ASSETS ($ billion) Bank of New York 88 Regions Financial 80 Fifth Third Bank 58 State Street Bank and Trust 92 Branch Banking and Trust Company 81 Chase Bank 70 Key Bank 89 PNC Bank 84 Prepare a stem and leaf display. What is the shape of the distribution from the table above? Question 14 options: It has a normal bell-shaped curve with even distribution. It is skewed to the right. It is skewed to the left. It cannot be determined. Save Question 15 (5 points)   Interpret the meaning of the -1.97 standardization. Question 15 options: The value is approximately 2 standard deviations above the mean. The value is approximately 1 standard deviation above the mean. The value is approximately 1 standard deviation below the mean. The value is approximately 2 standard deviations below the mean. Save Question 16 (5 points)   The following table shows data on total assets ($ billion) for a small sample of U.S. banks. Prepare a stem and leaf display. BANK ASSETS ($ billion) Bank of New York 88 Regions Financial 80 Fifth Third Bank 58 State Street Bank and Trust 92 Branch Banking and Trust Company 81 Chase Bank 70 Key Bank 89 PNC Bank 84 Standardize the asset value of Fifth Third Bank by finding the z score. Question 16 options: -1.47 +1.47 -1.97 +1.97 Save Question 17 (5 points)   A study examined consumption levels of oil and carbon dioxide emissions for sample of counties. The response variable in this study is: Question 17 options: oil. oil consumption. carbon dioxide emissions. countries. Save Question 18 (5 points)   Refer to the following table: COMPANY CLOSING SHARE PRICE 3M Dental Products 86.95 Tyco Electronics Power Systems 47.45 Kyocera America Inc. 94.10 Pfizer Inc. 22.39 Xerox Company 17.56 Northrop Grumman Corporation 75.81 Lockheed Martin Maritime Systems 100.17 Sony DADC 51.91 Matsushita Electronic Components 17.91 Foster Wheeler Environmental Corp. 55.67 Standardize the share price for Matsushita Electronic Components by finding the z score. Question 18 options: -1.24 1.24 -1.36 1.36 Save Question 19 (5 points)   Shown below is a correlation table showing correlation coefficients between stock price, earnings per share (EPS), and price/earnings (P/E) ratio for a sample of 19 publicly traded companies. Correlations: Stock Price, EPS, PE Stock Price EPS EPS 0.875 PE 0.323 -0.111 What is the correlation between stock price and EPS? Question 19 options: -.875 .875 -1.25 1.25 Save Question 20 (5 points)   Suppose a marketing manager who was earning $129,420 got a raise and is now earning $140,000. How would this change affect the median? Question 20 options: Increase Decrease Stay the same Cannot be determined