QBA Quiz 1 & 2

An initial estimate of the probabilities of events is a _____ probability. a. conditional b. empirical c. prior d. posterior

c. prior

Which of the following is not a characteristic of the normal probability distribution? a. The mean, median, and the mode are equal. b. The distribution is symmetrical. c. The mean of the distribution can be negative, zero, or positive. d. The standard deviation must be 1.

d. The standard deviation must be 1.

A variable that can only take on specific numeric values is called a _____. a. continuous random variable b. complex random variable c. categorical variable d. discrete random variable

d. discrete random variable

What is the total area under the normal distribution curve? a. 1 b. It depends upon the mean and standard deviation c. 100 d. It must be calculated

a. 1

Which of the following graphs provides information on outliers and IQR of a data set? a. Box plot b. Histogram c. Scatter chart d. Line chart

a. Box plot

Identify the shape of the distribution in the figure below. |I;,. a. Skewed right b. Symmetric c. Skewed left d. Approximately bell shaped

a. Skewed right

The letter grades (A, B, C, D, F) of business analysis students are recorded by a professor. This variable's classification _____. a. is categorical data b. is time series data c. is quantitative data d. Cannot be determined.

a. is categorical data

Sample space is _____. a. the collection of all possible outcomes b. the collection of events c. a subgroup of a population/the likelihood of an outcome d. a process that results in some outcome

a. the collection of all possible outcomes

_____ are collected from several entities at the same point in time. a. Random data b. Cross-sectional data c. Categorical and quantitative data d. Time series data

b. Cross-sectional data

The variance is based on the _____. a. number of variables b. deviation about the mean c. deviation about the median d. correlation in the data

b. deviation about the mean

Any data value with a z-score less than -3 or greater than +3 is considered to be a(n) _____. a. z-score value b. outlier c. whisker d. statistic

b. outlier

Bayes' theorem is a method used to compute _____ probabilities. a. conditional b. posterior c. prior d. empirical

b. posterior

In a normal distribution, which is greater, the mean or the median? a. Median b. Mean c. Neither the mean or the median (they are equal) d. Cannot be determined with the information provided.

c. Neither the mean or the median (they are equal)

Two events are independent if _____. a. the probability of one or both events is greater than 1 b. the two events occur at the same time c. P(A | B) = P(A) or P(B | A) = P(B) d. None of these choices are correct.

c. P(A | B) = P(A) or P(B | A) = P(B)

The amount of time taken by each of 10 students in a class to complete an exam is an example of what type of data? a. Cannot be determined. b. Time series data c. Quantitative data d. Categorical data

c. Quantitative data

Which of the following is a discrete random variable? a. The height of water-oak trees b. The amount of mercury found in fish caught in the Gulf of Mexico c. The number of times a student guesses the answers to questions on a certain test d. The amount of gasoline purchased by a customer

c. The number of times a student guesses the answers to questions on a certain test

The act of collecting data that are representative of the population data is called _____. a. sample data b. population sampling c. sources of data d. random sampling

d. random sampling