ISA 225 Exam 1 Questions And Answers 100% Accurate Rated A+.

The unemployment rate of persons with a disability is typically higher than for those with no disability. Recent statistics report that the national rate of unemployment among this group is 14.5%. The local government of a small city wants to determine the rate in its region to within ±5%, with 90% confidence. How many individuals with disabilities should they sample? A. 135 B. 191 C. 354 D. 678 E. 981 - correct answer A. 135 2. A mid-sized company has decided to implement an enterprise resource planning (ERP) system, and management suspects that many of its employees are concerned about the planned implementation. Managers are considering holding informational workshops to help decrease anxiety levels among employees. They randomly select 16 employees to participate in a pilot workshop. These employees were given a questionnaire to measure anxiety levels about ERP before and after participating in the workshop. If we let d = post-workshop anxiety level - pre-workshop anxiety level, the correct alternative hypothesis to determine if this approach was successful is ________________________ . A. μd = 0 B. μd 0 C. μd 0 D. μd ≠ 0 E. μd ≤ 0 - correct answer B. μd 0 Use the following for questions 3 & 4 Chris Columbus is responsible for controlling inventory levels for four types of sailboats sold by his company. Chris takes a sample of 48 boats sold over the past several months to determine if demand is the same for each type. His results are as follows: 3. The calculated value of the Chi Square statistic is ________________________ . A. 7.815 B. 1.17 C. 22.35 D. -1.17 E. 12.56 - correct answer B. 1.17 4. At the 0.05 level of significance, the correct conclusion is ________________________ . A. evidence suggests that the demand is the same for different types of boats B. evidence suggests that the demand is not the same for different types of boats C. reject the null hypothesis D. Both A and C. E. Both B and C. - correct answer A. evidence suggests that the demand is the same for different types of boats 5. An army depot that overhauls ground mobile radar systems is interested in improving its processes. One problem involves troubleshooting a particular component that has a high failure rate after it has been repaired and reinstalled in the system. The shop floor supervisor believes that having standard work procedures in place will reduce the time required for troubleshooting this component. Time (in minutes) required troubleshooting this component without and with the standard work procedure is recorded for a sample of 19 employees. In order to determine if having a standard work procedure in place reduces troubleshooting time, they should use ________________________ . A. a one-tailed paired t-test B. a two-tailed test of two independent means C. a one-tailed test of two independent means D. a two-tailed paired t-test E. a test of two proportions - correct answer A. a one-tailed paired t-test 6. A large software development firm recently relocated its facilities. Top management is interested in fostering good relations with their new local community and has encouraged their professional employees to engage in local service activities. They believe that the firm's professionals volunteer an average of more than 15 hours per month. If this is not the case, they will institute an incentive program to increase community involvement. Based on data collected they perform the appropriate hypothesis test. A Type II error in this context means ________________________ . A. they failed to detect that the average number of hours volunteered by the firm's professional employees is more than 15 hours when in fact it is B. they would decide not to institute an incentive program to increase community involvement when they should have C. they would waste money instituting an incentive program to increase community involv - correct answer E. Both A and C. 7. A professor was interested in determining whether the prices of new textbooks in the bookstore were higher than if purchased online. She selected 6 textbooks and priced each at the bookstore and online. Based on her analysis, we can conclude at the 0.05 level of significance that ________________________ . A. the prices are higher online B. the prices are higher in the bookstore C. the prices are the same in the bookstore and online D. the prices are different in the bookstore and online E. the analysis is not conclusive - correct answer C. the prices are the same in the bookstore and online 8. A pharmaceutical company wants to answer the question whether it takes longer than 45 seconds for a drug in pill form to dissolve in the gastric juices of the stomach. A sample was taken from patients taken the given drug in pill form and times for the pills to be dissolved were measured. b. State assumptions of the test. A. The subjects must be part of a medical study group investigating the drug. B. The subjects in the sample must be randomly selected from a population. C. The sample data must come from a normally distributed population of observations for the variable under study. D. B and C are required conditions. E. None of the above. - correct answer D. B and C are required conditions. 9. Data were collected on annual personal time (in hours) taken by a random sample of 16 women and 7 men employed by a medium sized company. The women took an average of 24.75 hours of personal time per year with a standard deviation of 2.84 hours. The men took an average of 21.89 hours of personal time per year with a standard deviation of 3.29 hours. The correct 90% confidence interval for the difference between women and men in the average number of hours of personal time taken per year is ________________________ . A. 1.27 to 6.89 hours B. -0.50 to 3.21 hours C. -4.67 to -0.62 hours D. 0.30 to 5.48 hours E. None of the above. - correct answer D. 0.30 to 5.48 hours 10. A human resources manager at a large company wants to estimate the proportion of employees that would be interested in reimbursement for college courses. If she wishes to be 95% confident that her estimate is within 5% of the true proportion, how many employees would need to be sampled? A. 271 B. 385 C. 543 D. 646 E. 1234 - correct answer B. 385 11. A company manufacturing computer chips finds that 8% of all chips manufactured are defective. In an effort to decrease the percentage of defective chips, management decides to provide additional training to those employees hired within the last year. After training was implemented, a sample of 450 chips revealed only 27 defects. A hypothesis test is performed to determine if the additional training was effective in lowering the defect rate. The correct value of the test statistic is ________________________ . A. z = -1.56 B. z = -2.57 C. z = 1.56 D. z = 1.96 E. z = -2.57 - correct answer A. z = -1.56 Use the following for questions 12 & 13 A real estate agency, located in a metropolitan area in the northeastern U.S., kept data on the various types of properties purchased in the area. Historically, 15% of purchases we