OPRE 6301 STATS TEST 1 EXAM
QUESTIONS AND ANSWERS 2026
VERIFIED.
A sample of five Fortune 500 companies showed the following revenues ($ millions): 7505.0,
2904.7, 7208.4, 6819.0, and 19500.0. Based on this information, which of the following
statements is correct?
a. An estimate of the average revenue for all Fortune 500 companies is 8787.42 ($ millions).
b. Over half of all Fortune 500 companies earn at least 7208.4 ($ millions) in revenues.
c. If five other Fortune 500 companies were chosen, the average revenue would be 8787.42 ($
millions).
d. The average revenue for all Fortune 500 companies is 8787.42 ($ millions). - ANS a. An
estimate of the average revenue for all Fortune 500 companies is 8787.42 ($ millions)
You invested $4,500 in a project which gave you a return of 13.5% the 1st year. You were quite
happy, but the 2nd year wasn't as good. You lost 4.9% that year. The 3rd year was better - you
made 6% on this investment. What was your annual average rate of return over the three
years? - ANS 0.0459 ± 1%
@2026/2027 ALLRIGHTS RESERVED.
,If the middle 68% of the 7th graders kids in a school are in the range of 5' 5" and 5' 11", what is
the standard deviation (in inches)? Note: Assume Normal Distribution as 68% is typically used
for Normal Distribution. - ANS 3
In a sample of 800 students in a university, 160, or 20%, are Business majors. Based on the
above information, the school's paper reported that "20% of all the students at the university
are Business majors." This report is an example of
a. a population
b. statistical inference
c. descriptive statistics
d. a sample - ANS b. statistical inference
In order to study the effectiveness of a training program, President Kirkman randomly picks 5
employees and records the respective time taken in assembling Part K. If the times are 9, 7, 5, 5,
and 7 minutes, what is the standard deviation? - ANS 1.673 ± 1%
Covariance can be
A. Standard deviation
B. False
@2026/2027 ALLRIGHTS RESERVED.
, C. between -1 and +1 only
D. Range
E. (n-1)
F. Any positive number
G. Mean
H. n
I. Any number
J. True - ANS I. Any number
Correlation can be
A. Standard deviation
B. False
C. between -1 and +1 only
D. Range
@2026/2027 ALLRIGHTS RESERVED.
QUESTIONS AND ANSWERS 2026
VERIFIED.
A sample of five Fortune 500 companies showed the following revenues ($ millions): 7505.0,
2904.7, 7208.4, 6819.0, and 19500.0. Based on this information, which of the following
statements is correct?
a. An estimate of the average revenue for all Fortune 500 companies is 8787.42 ($ millions).
b. Over half of all Fortune 500 companies earn at least 7208.4 ($ millions) in revenues.
c. If five other Fortune 500 companies were chosen, the average revenue would be 8787.42 ($
millions).
d. The average revenue for all Fortune 500 companies is 8787.42 ($ millions). - ANS a. An
estimate of the average revenue for all Fortune 500 companies is 8787.42 ($ millions)
You invested $4,500 in a project which gave you a return of 13.5% the 1st year. You were quite
happy, but the 2nd year wasn't as good. You lost 4.9% that year. The 3rd year was better - you
made 6% on this investment. What was your annual average rate of return over the three
years? - ANS 0.0459 ± 1%
@2026/2027 ALLRIGHTS RESERVED.
,If the middle 68% of the 7th graders kids in a school are in the range of 5' 5" and 5' 11", what is
the standard deviation (in inches)? Note: Assume Normal Distribution as 68% is typically used
for Normal Distribution. - ANS 3
In a sample of 800 students in a university, 160, or 20%, are Business majors. Based on the
above information, the school's paper reported that "20% of all the students at the university
are Business majors." This report is an example of
a. a population
b. statistical inference
c. descriptive statistics
d. a sample - ANS b. statistical inference
In order to study the effectiveness of a training program, President Kirkman randomly picks 5
employees and records the respective time taken in assembling Part K. If the times are 9, 7, 5, 5,
and 7 minutes, what is the standard deviation? - ANS 1.673 ± 1%
Covariance can be
A. Standard deviation
B. False
@2026/2027 ALLRIGHTS RESERVED.
, C. between -1 and +1 only
D. Range
E. (n-1)
F. Any positive number
G. Mean
H. n
I. Any number
J. True - ANS I. Any number
Correlation can be
A. Standard deviation
B. False
C. between -1 and +1 only
D. Range
@2026/2027 ALLRIGHTS RESERVED.
