business stats

8 different novels are to be placed side-by-side on a shelf. How many ways can the 8 novels be arranged on the shelf?

40320

Mrs. Honey gave her class a very easy math test to bring their overall grades up. However, one person did not do as well as the others. Find the skew of the test scores of these 6 students:

-1.03

Calculate the sum of squares for the following data set: 20 23 28 32 30 24 20 23

142?

In an experiment, there are 8 different groups with 4 measurements per group. To calculate the within group variance, what would you use for N and g?

32 8

A horse race includes 10 participants. How many possible finishes are there for the top three positions: first (win), second (place), and third (show)?

720

Statistical control refers to what process?

In multiple regression, estimating each independent variable by setting the other independent variables to a constant

If a sample size varies and there are only two choices (yes or no), the data is best arranged in a(n) _____ chart.

column chart

All of the following are important things to consider while sampling from a population EXCEPT:

make sure your sample proportion matches the population proportion

What is a Z-score?

number of standard deviations away from the mean

What do you need to include when you are entering text into your formula?

quotations

Assuming that the population is not normally distributed to begin with, what will happen to the sample means with a large enough sample size?

they will be normally distributed

Cracked Window Repair Company has realized an increase in sales over the past year during road construction on the interstate. The road construction is expected to end next month. However, it is time for Cracked Window to order replacement windows. It takes three months for the suppliers to ship new windows to Cracked Window. Which method of time series analysis is most appropriate for calculating the window order?

time series analysis should not be used in this

Which of the following would NOT qualify as a rational subgroup for a sampled process?

widgets produced over a 10 year period

What is forecasting?

business predicting a future event

In a business context, normally distributed data can be used to accomplish all of the following EXCEPT:

determine the mission of an organization

Range, standard deviation, and variance are 'similar' in that each looks at

how spread out the data is

Which of the following is the number that appears most often?

mode

To compute the expected value of a discrete probability distribution, which of the following is used?

summation

In a 100% stacked histogram, which one of the following data attributes is not easily noticeable?

the total data count

Identify which of the following is NOT an example of descriptive statistics:

a company being 95% certain...

What are the characteristics used to describe a population?

parameter

Sam wants to show how much of his sales come from families and college students when compared to all his sales. Which of the following charts/graphs should he use?

pie charts

Which of these is NOT a condition for using hypothesis testing for a proportion?

population at least 10 times...

Why would a statistical model be used?

predict

A political group invites people in the local communities to participate in a survey about prayer in schools. This is an example of:

voluntary bias

When should you use an ANOVA to determine if there are differences between groups?

when you have more than two different groups to compare

A scientist is testing the growth speeds of a species of algae, and makes the following null hypothesis: Specimens of this species grow at a rate of at least v. They set their region of acceptance at 95% or higher, and find that 93% of the specimens grow at a rate of at least v. What should the scientist do and why?

they should reject the null

Which of these is an example of paired data?

Five people being tested for the efficacy of a drug before and after treatment

Which of the following is NOT a property of a random variable?

a random variable cannot be negative

The number added to or subtracted from the point estimate is known as the:

margin of error

What is the formula for the standard deviation of a binomial random variable?

sqrt(n * P * ( 1 - P ))

Clarence is looking at a control chart for his company. It shows that they are very productive for three weeks, and then they have a week where they are not productive, followed by three more weeks of high production. Which type of pattern is Clarence noticing?

systematic cycle