Exam 26: Statistics and Data Analysis

According to the regression analysis output below, how much of the variability in tourism revenue is accounted for by the number of foreign visitors?

Data were collected for a sample of 12 pharmacists to determine if years of experience and salary are related.Based on the output below, how much of the variability in pharmacists' salary is accounted for by years of experience?

A professor was interested in determining whether the prices of new textbooks in the bookstore were higher than if purchased online.She selected 6 textbooks and priced each at the bookstore and online. Based on her analysis, we can conclude at the 0.05 level of significance that ________________________ .

According to the output below, which of the following statement is true about the correlation between stock price and earnings per share (EPS)?

A manufacturer of cable wire periodically selects samples to monitor the process.A sample of ten wires is selected and the diameters (in cm.) are 0.493, 0.534, 0.527, 0.511, 0.565, 0.559, 0.519, 0.562, 0.551, and 0.530.The mean diameter is ________________________ .

A government agency has 6000 employees.As an alternative to the traditional five day work week, employees were asked whether they preferred a four day work week (10 hours per day) or flexible hours.The segmented bar chart below is based on the data collected.Which of the following statements is true about work week preferences and age category?

Quarterly returns were forecasted for a mutual fund comprised of technology stocks.The forecast errors for the last six quarters are as follows: -0.47, 1.12, -0.85, 1.27, 0.07, and -0.05.The MSE based on these forecast errors is ________________________ .

A chemistry professor who teaches a large lecture class surveys his students who attend his class about how he can make the class more interesting, hoping he can get more students to attend.This survey method suffers from ________________________ .

The weights of soy patties sold by Veggie Burgers Delight are normally distributed.A random sample of 15 patties yields a mean weight of 3.8 ounces with a sample standard deviation of 0.5 ounces.At the .05 level of significance, perform a hypothesis test to see if the true mean weight is less than 4 ounces. The correct calculated value of the test statistic is ________________________ .

A government agency has 6000 employees.As an alternative to the traditional five day work week, employees were asked whether they preferred a four day work week (10 hours per day) or flexible hours.The table below shows the results by age category.Which of the following statements is true about work week preferences and age category?

Disparate databases that include demographic and transactional variables merged together are referred to as ________________________ .

Estimated profits for an investor would depend on how successful a bailout bill would be in helping the U.S.economy.The estimated annual return for two different investment strategies are shown in the following table.If there is a 30% chance that the economy will decline, 50% that there will be no change and 20% chance that it will rebound, the expected value with perfect information is ________________________ .

In one city, 47.5% of adults are female, 10.2% of adults are left-handed, and 4.8% are females.For an adult selected at random from the city, let F = event the person is female L = event the person is left-handed. Find P(F or L).Round approximations to three decimal places.

Quarterly returns were forecasted for a mutual fund comprised of technology stocks.The forecast errors for the last six quarters are as follows: -0.47, 1.12, -0.85, 1.27, 0.07, and -0.05.The MAD based on these forecast errors is ________________________ .

A contact lens wearer read that the producer of a new contact lens boasts that their lenses are cheaper than contact lenses from another popular company.The null hypothesis Is tested against the alternative Which of the following would be a Type II error?

According to the results below, what is the correlation between stock price and EPS?

A local politician was interested in determining whether income level affects opinion regarding the government's bailout bill for easing the 2008 financial crisis on Wall Street.He surveyed a sample of his constituents and got the following results.The calculated value of the Chi Square statistic is ________________________ . Opinion

A Normal probability plot of the weights of individuals signed up for a popular diet program is shown below.The best description of the plot is _______________________ .

Data were collected on annual personal time (in hours) taken by a random sample of 16 women and 7 men employed by a medium sized company.The women took an average of 24.75 hours of personal time per year with a standard deviation of 2.84 hours.The men took an average of 21.89 hours of personal time per year with a standard deviation of 3.29 hours.The Human Resources Department believes that women tend to take more personal time than men because they tend to be the primary child care givers in the family.The t-test for two means is appropriate in this situation because ________________________ .

Which is TRUE about randomized experiments? I.Randomization reduces the effects of confounding variables. II.Random assignment of treatments allows results to be generalized to the larger population. III.Blocking can be used to reduce the within-treatment variability.