BANA 2372 – HOLLANDER FINAL
EXAM – CHAPTEER 1-9 FINAL EXAM
PART 3 ALL ACTUAL PRACTICE 100%
QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE 2024\2025
PREMIUM GRADED A+++
____ analytics is the set of analytical techniques that yield a
course of action.
- Correct Answer- Prescriptive
_____ analytics consists of analytical techniques that use
models constructed from past data to predict the future or to
assess the impact of one variable on another.
- Correct Answer- predictive
_____ analytics encompasses the set of analytical techniques
that describe what has happened in the past.
- Correct Answer- descriptive
_____ can be used to determine the percentage of data values
that must be within one, two, and three standard deviations of
the mean for data having a bell-shaped distribution.
- Correct Answer- The empirical rule
, _____ can be used to make statements about the proportion
of data values that must be within a specified number of
standard deviations of the mean, regardless of the shape of the
distribution.
- Correct Answer- Chebyshev's theorem
_____ is the process of using procedures from statistics and
computer science to extract useful information from
extremely large databases.
- Correct Answer- data mining
A __________ can be used to graphically present quantitative
data.
- Correct Answer- histogram and a stem-and-leaf display
A __________ is a graphical representation in which the
sample space is represented by a rectangle and events are
represented as circles.
- Correct Answer- Venn diagram
A (discrete) sample space, denoted S, is a list of all possible
outcomes Oi of an experiment. It is denoted as
- Correct Answer- S = {𝑶𝟏, 𝑶𝟐, ... , 𝑶𝒌}
, A board of directors consists of eight men and four women.
A four-member search committee is to be chosen at random to
recommend a new company president. What is the probability
that all four members of the search committee will be women?
- Correct Answer- 1/495 or 0.002
A box plot is a graphical representation of data that is based
on _____.
- Correct Answer- a five-number summary
A characteristic of interest for the elements is called a(n)
_____.
- Correct Answer- variable
A committee of four is to be selected from a group of 12
people. How many possible committees can be selected?
- Correct Answer- 495
A common graphical presentation of quantitative data is a
_____.
- Correct Answer- histogram
A company created a side-by-side bar graph to display their
projected financing for the next three years. The display is
shown below. Which of the following statements is correct?
, - Correct Answer- The company projects to increase income,
while decreasing loans and expenses.
A company plans to interview 10 recent graduates for
possible employment. The company has three positions open.
How many groups of three can the company select?
- Correct Answer- 120
A company studied the number of lost-time accidents
occurring at its Brownsville, Texas, plant. Historical records
show that 8% of the employees suffered lost-time accidents
last year. Management believes that a special safety program
will reduce such accidents to 7% during the current year. In
addition, it estimates that 15% of employees who had lost-
time accidents last year will experience a lost-time accident
during the current year.
a. What percentage of the employee will experience a lost-
time accident in both years?
b. What percentage of the employee will experience a lost-
time accident over the two-year period (to 1 decimal)?
- Correct Answer- 01.2% Explanation (0.08*0.15) = 0.012 ~
1.2%
13.8% Explanation 0.08 + 0.07 - 0.012 = 0.138 or 13.8%
A conditional probability is computed as
- Correct Answer- 𝑃 (𝐴|𝐵) =𝑃(𝐴 ∩ 𝐵)/𝑃(𝐵)
EXAM – CHAPTEER 1-9 FINAL EXAM
PART 3 ALL ACTUAL PRACTICE 100%
QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE 2024\2025
PREMIUM GRADED A+++
____ analytics is the set of analytical techniques that yield a
course of action.
- Correct Answer- Prescriptive
_____ analytics consists of analytical techniques that use
models constructed from past data to predict the future or to
assess the impact of one variable on another.
- Correct Answer- predictive
_____ analytics encompasses the set of analytical techniques
that describe what has happened in the past.
- Correct Answer- descriptive
_____ can be used to determine the percentage of data values
that must be within one, two, and three standard deviations of
the mean for data having a bell-shaped distribution.
- Correct Answer- The empirical rule
, _____ can be used to make statements about the proportion
of data values that must be within a specified number of
standard deviations of the mean, regardless of the shape of the
distribution.
- Correct Answer- Chebyshev's theorem
_____ is the process of using procedures from statistics and
computer science to extract useful information from
extremely large databases.
- Correct Answer- data mining
A __________ can be used to graphically present quantitative
data.
- Correct Answer- histogram and a stem-and-leaf display
A __________ is a graphical representation in which the
sample space is represented by a rectangle and events are
represented as circles.
- Correct Answer- Venn diagram
A (discrete) sample space, denoted S, is a list of all possible
outcomes Oi of an experiment. It is denoted as
- Correct Answer- S = {𝑶𝟏, 𝑶𝟐, ... , 𝑶𝒌}
, A board of directors consists of eight men and four women.
A four-member search committee is to be chosen at random to
recommend a new company president. What is the probability
that all four members of the search committee will be women?
- Correct Answer- 1/495 or 0.002
A box plot is a graphical representation of data that is based
on _____.
- Correct Answer- a five-number summary
A characteristic of interest for the elements is called a(n)
_____.
- Correct Answer- variable
A committee of four is to be selected from a group of 12
people. How many possible committees can be selected?
- Correct Answer- 495
A common graphical presentation of quantitative data is a
_____.
- Correct Answer- histogram
A company created a side-by-side bar graph to display their
projected financing for the next three years. The display is
shown below. Which of the following statements is correct?
, - Correct Answer- The company projects to increase income,
while decreasing loans and expenses.
A company plans to interview 10 recent graduates for
possible employment. The company has three positions open.
How many groups of three can the company select?
- Correct Answer- 120
A company studied the number of lost-time accidents
occurring at its Brownsville, Texas, plant. Historical records
show that 8% of the employees suffered lost-time accidents
last year. Management believes that a special safety program
will reduce such accidents to 7% during the current year. In
addition, it estimates that 15% of employees who had lost-
time accidents last year will experience a lost-time accident
during the current year.
a. What percentage of the employee will experience a lost-
time accident in both years?
b. What percentage of the employee will experience a lost-
time accident over the two-year period (to 1 decimal)?
- Correct Answer- 01.2% Explanation (0.08*0.15) = 0.012 ~
1.2%
13.8% Explanation 0.08 + 0.07 - 0.012 = 0.138 or 13.8%
A conditional probability is computed as
- Correct Answer- 𝑃 (𝐴|𝐵) =𝑃(𝐴 ∩ 𝐵)/𝑃(𝐵)
