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Mocktest - Midterm 1

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17 views

Mocktest - Midterm 1

DJFNDKJFKD

Uploaded by

Phương Thảo Lê
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

The decisions concerning an organization’s goals and future plans are called

a. financial b. tactical decisions.


decisions.

c. strategic decisions. d. operational decisions.

2. A forecast that helps direct police officers to areas where crimes are likely to occur based on past data
is an example of

a. predictive analytics. b. decision analysis.

c. prescriptive analytics. d. descriptive analytics.

3. Optimization models can be used to

a. assess the risk of investment portfolios.

b. forecast future financial performance.

c. successfully manage commercial real estate risk.

d. decide on how to invest cash received from insurance policies.

4. Tables should be used instead of charts when _____.

a. the reader needs relative comparisons of data

b. there are more than two columns of data

c. the values being displayed have different units or very different


magnitudes

d. the reader need not differentiate the columns and rows

5. Bar charts use _____.

a. horizontal bars to display the magnitude of the quantitative variable

b. vertical bars to display the magnitude of the quantitative variable

c. horizontal and vertical bars to display the magnitude of the quantitative


variable

d. vertical bars to display the magnitude of the categorical variable

6. This Excel bar chart displays the demographics of a Business Analysis class. Approximately how
many students are in the class?
a. 175

b. 150

c. 105

d. 130

7. The ratio of the amount of ink used in a table or chart that is necessary to convey information to the
total amount of ink used in the table and chart is known as data-ink ratio. Using additional ink that is not
necessary to convey information has what effect on the data-ink ratio?

a. It reduces the data-ink ratio.

b. It increases the data-ink ratio.

c. It doesn't change the data-ink ratio.

d. The data-ink ratio becomes zero.

8. _____ acts as a representative of the population.

a. The variable b. The variance

c. A sample d. A random variable

9. The letter grades (A, B, C, D, F) of business analysis students are recorded by a professor. This
variable’s classification _____.

a. is quantitative b. cannot be determined


data

c. is categorical data d. is time series data

10. Compute the geometric mean for the following data on growth factors of an investment for 10 years.

1.10, 0.50, 0.70, 1.21, 1.25, 1.12, 1.16, 1.11, 1.13, 1.22

a. 1.0221 b. 1.0148

c. 1.0363 d. 1.1475
11. A _____ determines how far a particular value is from the mean relative to the data set’s standard
deviation.

a. coefficient of variation b. z-score

c. variance d. percentile

12. Which graph represents a negative linear relationship between x and y?

a. A

b. B

c. C

d. None of the graphs display a negative linear relationship.

13. Sample space is _____.


a. a process that results in some outcome
b. the collection of all possible outcomes
c. the collection of events
d. a subgroup of a population/the likelihood of an
outcome
14. Which statement is true about mutually exclusive events?
a. If events A and B cannot occur at the same time, they are called mutually
exclusive.
b. If either event A or event B must occur, they are called mutually exclusive.
c. P(A) + P(B) = 1 for any events A and B that are mutually exclusive.
d. None of these are correct.
15. Which of the following statements is correct?
a. The binomial and normal distributions are both discrete probability distributions.
b. The binomial and normal distributions are both continuous probability distributions.
c. The binomial distribution is a continuous probability distribution, and the normal distribution
is a discrete probability distribution.
d. The binomial distribution is a discrete probability distribution and the normal distribution is a
continuous probability distribution.
16. Fast food restaurants pride themselves in being able to fill orders quickly. A study was done at a local
fast food restaurant to determine how long it took customers to receive their order at the drive-thru. It was
discovered that the time it takes for orders to be filled is exponentially distributed with a mean of 1.5
minutes. What is the probability that it takes less than one minute to fill an order?
a. 0.1813
b. 0.4866
c. 0.6321
d. 0.7769
17. A health conscious student faithfully wears a device that tracks his steps. Suppose that the distribution
of the number of steps he takes in a day is normally distributed with a mean of 10,000 and a standard
deviation of 1,500 steps. One day he took 15,000 steps. What was his percentile on that day?
a. 95%
b. 97.7%
c. 99.7%
d. 100%
18. In a normal distribution, which is greater, the mean or the median?
a. Mean
b. Median
c. Neither the mean nor the median (they are equal)
d. Cannot be determined with the information
provided
19. For a population with an unknown distribution, the form of the sampling distribution of the sample
mean is _____.

a. approximately normal for small sample


sizes

b. exactly normal for large sample sizes

c. exactly normal for small sample sizes

d. approximately normal for large sample sizes

20. In order to determine an interval for the mean of a population with unknown standard deviation, a
sample of 24 items is selected. The mean of the sample is determined to be 23. The number of degrees of
freedom for reading the t value is _____.

a. 21

b. 22

c. 23

d. 24

21. In interval estimation, as the sample size becomes larger, the interval estimate _____.

a. becomes narrower
b. becomes wider

c. remains the same, since the mean is not


changing

d. gets closer to 1.96

22. A statistics teacher started class one day by drawing the names of 10 students out of a hat and asked
them to do as many pushups as they could. The 10 randomly selected students averaged 15 pushups per
person with a standard deviation of 9 pushups. Suppose the distribution of the population of number of
pushups that can be done is approximately normal. The 95% confidence interval for the true mean
number of pushups that can be done is _____.

a. 5.75 to 24.25

b. 8.56 to 21.40

c. 11.31 to 18.55

d. 13.02 to 16.98

23. In a random sample of 400 registered voters, 120 indicated they plan to vote for Trump for President.
Determine a 95% confidence interval for the proportion of all the registered voters who will vote for
Trump.

a. (0.25, 0.34)

b. (0.27, 0.32)

c. (0.29, 0.30)

d. Cannot be determined from the information given.

24. What are the two decisions that you can make from performing a hypothesis test?

a. Reject the null hypothesis; Fail to reject the null hypothesis

b. Accept the null hypothesis; Accept the alternative


hypothesis

c. Make a Type I error; Make a Type II error

d. Reject the alternative hypothesis; Accept the null hypothesis

=====================

Q1. Suppose that the average time an employee takes to reach the office is 35 minutes. To address the
issue of late comers, the mode of transport chosen by the employee is tracked: private transport (two-
wheelers and four-wheelers) and public transport. The data on the average time (in minutes) taken using
both a private transportation system and a public transportation system for a sample of employees are
given in the Excel file.
a. What are the mean and median travel times for employees using a private transport? What are the
mean and median travel times for employees using a public transport
b. What are the variance and standard deviation of travel times for employees using a private
transport? What are the variance and standard deviation of travel times for employees using a
public transport?
c. Comment on the results
Q2. The income levels vary by race and educational attainment. To examine this inequality in the income,
data have been collected for seven different years on the median income earned by an individual based on
his or her race and education in the Excel file.
a. Sort the PivotTable data to display the years with the smallest sum of median income on top and
the largest on the bottom. Which year had the smallest sum of median income? What is the total
income in the year with the smallest sum of median income?
b. Add the Racial Demographic to the Row Labels in the PivotTable. Sort the Racial Demographic
by Sum of Median Income with the lowest values on top and the highest values on bottom. Filter
the Row Labels so that only the year 2003 is displayed. Which Racial demography had the
smallest sum of median income in the year 2003? Which Racial demography had the largest sum
of median income in the year 2003?

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