Exam 26: Statistics and Data Analysis

Using the following regression analysis of the relationship between the size of cash bonuses and pay scale, find the correlation between average annual cash bonus and average annual pay?

The following payoff table (in thousands of dollars) considers three possible levels of demand in a housing complex.If there is a 45% chance that the demand level will be low, 30% that it will be medium and 25% chance that it will be high, what is the expected value of perfect information?

A recent report evaluated the price and performance of 25 models of smartphones.Computer output gives the summary statistics for the prices ($) shown in the table.Based on these results, which of the following is true?

A manufacturer of solid wood cabinetry requires that its lumber has moisture content (MC) between 5% and 9%.Twenty-five subgroups, each consisting of six pieces of lumber, yield an average MC of 6.95% and an average range of 2.2%.The estimated process standard deviation () is ________________________ .

The nonparametric alternative to the two sample t-test is the ________________________ .

A customer service center keeps track of the number of complaints received each day about one of their new products.The numbers of complaints received over the last 11 day period are 19, 18, 22, 21, 17, 18, 22, 19, 16, 23, and 25.The standard deviation for this sample of data is

Which is true of the data shown in the histogram? I.The distribution is approximately symmetric. II.The mean and median are approximately equal. III.The median and IQR summarize the data better than the mean and standard deviation.

A researcher wants to compare the effect of a new type of shampoo on hair condition.The researcher believes that men and women may react to the shampoo differently.Additionally, the researcher believes that the shampoo will react differently on hair that is dyed.The subjects are split into four groups: men who dye their hair; men who do not dye their hair; women who dye their hair; women who do not dye their hair.Subjects in each group are randomly assigned to the new shampoo and the old shampoo.This experiment ________________________ .

A regression model: Was developed to predict a firm's Price-Earnings Ratio (PE) using Growth Rate, Profit Margin, and whether the firm is Green (1 = Yes, 0 = No).Which of the following is the correct interpretation for the regression coefficient of Green?

A manufacturer of batteries routinely tests its products to determine lifetime (hours of continuous usage).Suppose they select a sample of 30 AAA batteries and find that the average lifetime is 1500 hours.This is a ________________________ .

A real estate agency, located in a metropolitan area in the northeastern U.S., kept data on the various types of properties purchased in the area.Historically, 15% of purchases were for condominiums, 30% were for townhouses, 40% for single family homes, 10% for commercial properties and 5% for land.With changing demographics, the agency wondered if the current distribution matches the historical distribution.Recent data showed the following: What is the standardized residual associated with Townhouses?

The Durbin-Watson statistic for a regression model of weekly commodity prices for heating oil (cents) against time was found to be 0.244822.This value indicates that the ________________________ .

A publishing company conducted a survey of its readership and found that 60% subscribed to Food & Wine, 30% subscribed to Wine Spectator, and 25% subscribed to both.The probability that a reader does not subscribe to either is ________________________ . GLOBAL : please provide space between every question and options

A company that processes wheat varies the milling time (short, medium and long) and bleaching (no bleaching and bleaching) and measure fiber content (gms/100 grams) of the resulting wheat product to determine the best combination for a desirable wheat product.Which of the following is true about this study?

Chris Columbus is responsible for controlling inventory levels for four types of sailboats sold by his company.Chris takes a sample of 48 boats sold over the past several months to determine if demand is the same for each type.His results are as follows: The calculated value of the Chi Square statistic is ________________________ .

Suppose the P-value associated with the F-statistic for testing whether brand affects battery lifetime is 0.128.Based on this we can conclude that ________________________ .

In a particular production process, drying times for newly pained parts are uniformly distributed between 2 and 8 minutes.The probability that a part dries in less than 6 minutes is ________________________ . On

A magazine that publishes product reviews conducted a survey of teenagers' preferences for cell phones.Three brands of cell phone designed specifically with teens in mind were the focus of the study.The table summarizes responses by brand and gender.What percent of teenagers who preferred the BlackJack II were males?

An advocacy group is investigating whether gender has an effect on job category in large investment firms.She surveyed a sample of firms with the results shown below. Which of the following statements is true about gender and job category?

For families who live in apartments the correlation between the family's income and the amount of rent they pay is r = 0.60.Which is true? I.In general, families with higher incomes pay more in rent. II.On average, families spend 60% of their income on rent. III.The regression line passes through 60% of the (income$, rent$) data points.