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Business Analytics Review
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Business Analytics Review
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25 Questions

1. As the sample size increases, the margin of error

2. Some hotels ask their guests to rate the hotel's services as excellent, very good, good, and poor. This is an example of the

3. A random sample of 64 SAT scores of students applying for merit scholarships showed an average of 1400 with a sample standard deviation of 240. The 95% confidence interval for the average SAT scores of those applying for merit scholarships is

4. The intersection of two mutually exclusive events

5. A tabular method that can be used to summarize the data on two variables simultaneously is called

6. z is a standard normal random variable. Compute the probability that z ≥ 2.32. Use Excel and round your answer to 3 decimal places.

7. The measure of location which is the most likely to be influenced by extreme values in the data set is the

8. The value added and subtracted from a point estimate in order to develop an interval estimate of the population parameter is known as the

9. As a confidence level of 96% a confidence interval for a population proportion is determined to be 0.65 to 0.75. If the confidence level is increased, the interval for the population proportion

10. Of ten banks receiving TARP funds, only three actually increased lending. If you select four banks from the ten banks for further analysis, what is the probability that two of the banks selected had increased lending? Use Excel and the hypergeometric distribution to answer this question

11. A graphical presentation of the relationship between two variables is

12. From a population with a variance of 900, a sample of 225 items is selected. At 95% confidence, the margin of error for the population mean is

13. When the p-value is used for hypothesis testing, the null hypothesis is rejected if

14. If A and B are independent events with P(A) = 0.38 and P(B) = 0.55, then P(A given B) =

15. The z value for a 95.0% confidence interval estimation is

16. As the test statistic for an upper tail hypothesis test becomes larger, the p-value

17. The difference between the largest and the smallest data values is the

18. For ease of data entry into a university database, 1 denotes that the student is an undergraduate and 2 indicates that the student is a graduate student In this case data are

19. For a sample of retired NFL players, data are collected on the number of concussions each experienced during his career. This study would be considered

20. The p-value

21. The p-value

22. A random sample of 64 SAT scores of students applying for merit scholarships showed an average of 1400 with a sample standard deviation of 240. | The 95% confidence interval for the average SAT scores of those applying for merit scholarships is | a population parameter A. interval estimate is a range of values used to estimate

23. (Round your answer to three decimal places.) In a one-tail (upper tail) hypothesis test situation, the test statistic is determined to be t = 2.692. The sample size was 45. The p-value for this test is

24. In a study of managers at a large firm, managers are categorized into three groups according to their division (field, production, or corporate). A simple random sample is taken from each group, and data are collected on each manager in the sample. The sampling method is

25. Assume that you have a binomial experiment with p = 0.5 and a sample size of 200. The expected value of this distribution is

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