QNT/351 FINAL EXAM ANSWERS

QNT/351 FINAL EXAM ANSWERS. What level of measurement is the number of auto accidents reported in a given month? A. Interval B. Ratio C. Nominal D. Ordinal 2. If two events A and B are mutually exclusive, what does the special rule of addition state? A. P(A or B)=P(A)-P(B) B. P(A and/or B)=P(A)+P(B) C. P(A or B)=P(A)+P(B) D. P(A and B)=P(A)+P(B) 3. For any data set, which measures of central location have only one value? A. Mode and standard deviation B. Mode and mean C. Mean and median D. Mode and median 4. What is the variable used to predict the value of another called? A. Independent variable B. Correlation variable C. Variable of determination D. Dependent variable 5. A null hypothesis makes a claim about a A. Type II error B. Population parameter C. Sample statistic C. Sample mean 6. The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment? A. Continuous B. Qualitative C. Attribute D. Discrete 7. 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 on which type of questions the students scored higher. This experiment is an example of Answer: a paired t-test 8. A listing of all possible outcomes of an experiment and their corresponding probability of occurrence is called a Answer: probability distribution 9. A small sample of computer operators shows monthly incomes of $1,950, $1,775, $2,060, $1,840, $1,795, $1,890, $1,925, and $1,810. What are these ungrouped numbers called? Answer: Raw data 10. The mean of any uniform probability distribution is