Bus 308 Week 1 Quiz 4 Sets 100% correct

Question 1. 1. In statistical notation, M is to μ as s is to σ. (Points : 1) 
        True 
        False 


Question 2. 2. If sales data are reported in dollar values, what is the scale of the data? (Points : 1) 
        Nominal
        Ordinal
        Interval
        Ratio


Question 3. 3. A parameter refers to a sample characteristic. (Points : 1) 
        True 
        False 


Question 4. 4. What sets the standard normal distribution apart from all others? (Points : 1) 
        It is a normal distribution
        It turns data from any source into normal data
        It is based upon ordinal scale data
        It has a fixed mean and standard deviation


Question 5. 5. Normal curve data is skewed to the right. (Points : 1) 
        True 
        False 


Question 6. 6. In a frequency distribution such as a bell-shaped curve, what does the vertical height of the curve indicate? (Points : 1) 
        The different score values
        The frequency of score occurrence
        The probability of score occurrence
        The normality of the distribution


Question 7. 7. Which of the following defines standard deviation? (Points : 1) 
        The difference between the highest and lowest values.
        The arithmetic average of a set of values.
        The average difference between a set of values and the mean.
        The average of the highest and lowest values in a set.


Question 8. 8. If the ratio of difference compared to data variability is large in a z score, which is true?
@Answer found in section 2.3 The Standard Normal Distribution, in Statistics for Managers (Points : 1) 
        The data are probably not normal
        The z score will be comparatively large
        The data reflect a great deal of variability
        The z score will be comparatively small


Question 9. 9. Which statement explains what inferential statistical analysis is?
@Answer found in section 1.4 Describing or Inferring?, in Statistics for Managers
  (Points : 1) 
        The process of describing the sample.
        Understanding the population through the sample.
        The accumulation of population characteristics.
        Comparing dissimilar samples.


Question 10. 10. Calculating the median requires data of at least what scale? (Points : 1) 
        Nominal
        Ordinal




2. The mean of the distribution of sample means will have the same value as the mean of the distribution of individual scores upon which it is based. (Points : 1) 
True 
False 


3. The z transformation makes data normal. (Points : 1) 
True 
False 



6. Data on the ages of customers are ratio scale data. 
(Points : 1) 
True 
False 


7. Which of the following is NOT a measure of variability?
(Points : 1) 
The standard deviation
The range
The variance
The median






10. If a certifying agency raises the requirements for real estate agents, what sort of decision error is the agency protecting against? (Points : 1) 
Type I
Type II
Type III
Type IV



Question 3.3. The probability of two independent events occurring together equals the product of each of the individual event probabilities. 
True 
False 


Question 5.5. The z-score indicates where an individual data value lies within the data set. 
True 
False 



Question 7.7. Inferential statistics infer the characteristics of samples.
True 
False 

Question 8.8. The mode is which of the following?
The most frequently occurring value in a set.
The middle-most value in a set of values.
The difference between the highest and lowest values in a set.
The arithmetic average of a set of values.
Question 9.9. The standard deviation of normally distributed data sets is equal to about 1/6 of the data set- range. 
True 
False 

Set 4
 1.	Question :	Which is not true of a normal curve distribution?

 	Student Answer:	 	  About 2/3 of the data points fall within plus or minus one standard deviation from the mean. 
 			  For the standard normal distribution, the mean = 0 and the standard deviation = 1. 
 			  About 95% of the data points fall within plus or minus two standard deviations from the mean. 
 		 	  The end values of normally distributed data sets equal z-scores of plus or minus 3 or greater. 
 	Instructor Explanation:	Answer found in section 2.3 Descriptive Statistics, in Statistics for Managers


 	Points Received:	0 of 1 
 	Comments:	




Question 3.	Question :	A probability is found by dividing the number of possible outcomes (o) by the number of successes € = o/e.

 	Student Answer: 		  True 
 		 	  False 

 	Instructor Explanation:	Answer found in section 2.1 Descriptive Statistics, in Statistics for Managers				
				

 	Points Received:	1 of 1 
 	Comments:	



Question 4.	Question :	Data on the city from which members of a board of directors come represent interval data. 
@Answer found in section 1.3 Types of Data Scales in Statistics for Managers

 	Student Answer: 	 	  True 
 		 	  False 

				

 	Points Received:	0 of 1 
 	Comments:	




Question 7.	Question :	A dichotomous outcome has only two possibilities.

 	Student Answer: 	 	  True 
 			  False 

 	Instructor Explanation:	Answer found in section 2.1 A Primer in Probability, in Statistics for Managers				
				

 	Points Received:	1 of 1 
 	Comments:	



 
 



Question 10.	Question :	The z-score indicates where an individual data value lies within the data set.

 	Student Answer: 	 	  True 
 			  False 

 	Instructor Explanation:	Answer found in section 2.3 Descriptive Statistics, in Statistics for Managers				
				

 	Points Received:	1 of 1 
 	Comments:	



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Set 5
10. The probability of either, but not both, of two independent events occurring is the sum of their individual probabilities. (Points : 1)
Flase
7. The standard deviation of normally distributed data sets is equal to about 1/6 of the data set- range. (Points : 1)
       True
       False
4. If a manager wants to know the typical deviation in workers’ productivity, she will calculate the range. (Points : 1)
       True
       False


. 5. Which is not true of a normal curve distribution? (Points : 1)
       About 2/3 of the data points fall within plus or minus one standard deviation from the mean.
       For the standard normal distribution, the mean = 0 and the standard deviation = 1.
       About 95% of the data points fall within plus or minus two standard deviations from the mean.
       The end values of normally distributed data sets equal z-scores of plus or minus 3 or greater.

3. The z-score indicates where an individual data value lies within the data set.
True or False
4. Inferential statistics infer the characteristics of samples.
@Answer found in section 1.4 Describing or Inferring?, in Statistics for Managers
True or False
5. The tails of a normal distribution never touch the abscissa.
       True or False
6. A probability is found by dividing the number of possible outcomes (o) by the number of successes € = o/e.
       True or False