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QMB 3200 Test 1 Exam Questions
and Answers A+ Graded (2025)
What is the z score formula? - CORRECT ANSWER-(the observation - mean) /
standard deviation
What does a z score tell us? - CORRECT ANSWER-how many standard deviations
a value of from the mean
How do you find the range? - CORRECT ANSWER-biggest value minus smallest
value
What is the formula used in excel to find the range? - CORRECT ANSWER-
=max(array) - min (array)
If a data set has an odd number of observations, the median
a. Cannot be determined
b. is the value of the middle item when all items are arranged in ascending order
c. is the average value of the two middle items when all items are arranged in
ascending order.
d. must be equal to the mean - CORRECT ANSWER-b. is the value of the middle
item when all items are arranged in ascending order
Which of the following represents the data point that occurs most frequently in a
set of observations?
a. Mean
b. Mode
c. All of these choices are correct
d. Median - CORRECT ANSWER-b. Mode
The median of a data set is represented by the:
a. 50th percentile
b. 75th percentile
c. 100th percentile
d. 25th percentile - CORRECT ANSWER-a. 50th percentile
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Which of the following is a possible reason for an outlier in a data set?
a. A mistake was made while taking a measurement or entering it into the
computer
b. The individual in question belongs to a different group than the bulk of
individuals measured
c. The outlier is a legitimate data value and represents natural variability for the
group and variables measured
d. All of these choices are possible reasons for an outlier - CORRECT ANSWER-d.
All of these choices are possible reasons for an outlier
The following is the frequency distribution for the ages of a sample of senior
citizens who attend a local bingo night. What is the standard deviation for this
data set?
Age / Frequency
60-
65-
70-
75-
Total: 40
a. 47.8
b. 4.19
c. 17.54
d. 68 - CORRECT ANSWER-b. 4.19
A table or rule that assigns probabilities to the possible values of a discrete
random variable X is called the:
a. probability function
b. expected value
c. conditional probability
d. five-number summary - CORRECT ANSWER-a. probability function
Which of the following is a characteristic of a binomial experiment?
a. The trials are dependent
b. Each trial results in one of three outcomes
c. The probability of a failure, 1 - p remains constant from trial to trial
d. The experiment consists of n different trials - CORRECT ANSWER-c. The
probability of a failure, 1 - p remains constant from trial to trial
A random variable:
a. can be classified as being continuous
b. can be classified as being discrete
c. is a numerical description of the outcome of an experiment
d. all of these choices are correct - CORRECT ANSWER-d. all of these choices are
correct
QMB 3200 Test 1 Exam Questions
and Answers A+ Graded (2025)
What is the z score formula? - CORRECT ANSWER-(the observation - mean) /
standard deviation
What does a z score tell us? - CORRECT ANSWER-how many standard deviations
a value of from the mean
How do you find the range? - CORRECT ANSWER-biggest value minus smallest
value
What is the formula used in excel to find the range? - CORRECT ANSWER-
=max(array) - min (array)
If a data set has an odd number of observations, the median
a. Cannot be determined
b. is the value of the middle item when all items are arranged in ascending order
c. is the average value of the two middle items when all items are arranged in
ascending order.
d. must be equal to the mean - CORRECT ANSWER-b. is the value of the middle
item when all items are arranged in ascending order
Which of the following represents the data point that occurs most frequently in a
set of observations?
a. Mean
b. Mode
c. All of these choices are correct
d. Median - CORRECT ANSWER-b. Mode
The median of a data set is represented by the:
a. 50th percentile
b. 75th percentile
c. 100th percentile
d. 25th percentile - CORRECT ANSWER-a. 50th percentile
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Which of the following is a possible reason for an outlier in a data set?
a. A mistake was made while taking a measurement or entering it into the
computer
b. The individual in question belongs to a different group than the bulk of
individuals measured
c. The outlier is a legitimate data value and represents natural variability for the
group and variables measured
d. All of these choices are possible reasons for an outlier - CORRECT ANSWER-d.
All of these choices are possible reasons for an outlier
The following is the frequency distribution for the ages of a sample of senior
citizens who attend a local bingo night. What is the standard deviation for this
data set?
Age / Frequency
60-
65-
70-
75-
Total: 40
a. 47.8
b. 4.19
c. 17.54
d. 68 - CORRECT ANSWER-b. 4.19
A table or rule that assigns probabilities to the possible values of a discrete
random variable X is called the:
a. probability function
b. expected value
c. conditional probability
d. five-number summary - CORRECT ANSWER-a. probability function
Which of the following is a characteristic of a binomial experiment?
a. The trials are dependent
b. Each trial results in one of three outcomes
c. The probability of a failure, 1 - p remains constant from trial to trial
d. The experiment consists of n different trials - CORRECT ANSWER-c. The
probability of a failure, 1 - p remains constant from trial to trial
A random variable:
a. can be classified as being continuous
b. can be classified as being discrete
c. is a numerical description of the outcome of an experiment
d. all of these choices are correct - CORRECT ANSWER-d. all of these choices are
correct
