Question 1

Which of the following is true while applying the Excel ANOVA tool?

Accepted Answer

A) The specified input range of data must be separated. 
B) The sample size for each factor level must be the same. 
C) The input range must be a rectangular region that contains all data. 
D) Level of significance need not be specified. 
A) The specified input range of data must be separated. 
B) The sample size for each factor level must be the same. 
C) The input range must be a rectangular region that contains all data. 
D) Level of significance need not be specified.

Question 2

Which of the following propositions describes an existing theory or belief?

Accepted Answer

A) standard deviation 
B) null hypothesis 
C) proportion 
D) alternative hypothesis 
A) standard deviation 
B) null hypothesis 
C) proportion 
D) alternative hypothesis

Question 3

Identify the power of the test from the following probabilities.

Accepted Answer

Question 4

Which of the following 2010 Excel functions computes the p-value for the chi-square test?

Accepted Answer

A) CHISQ.INV.RT 
B) CHIDIST 
C) CHI.SQ 
D) CHISQ.TEST 
A) CHISQ.INV.RT 
B) CHIDIST 
C) CHI.SQ 
D) CHISQ.TEST

Question 5

In a two-sample test for means with the population variance being known, the z-test uses a test statistic that is based on the standard normal distribution.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is the test statistic for a one-sample test for mean when the population standard deviation is unknown?

Accepted Answer

A) $t=\frac{\bar{x}-\mu 0}{s / \sqrt{n}}$ 
B) $z=\frac{s / \sqrt{n}}{\bar{x}-\mu_{0}}$ 
C) $z=\frac{\bar{x}-\mu_{0}}{\sigma / \sqrt{n}}$ 
D) $t=\frac{\sigma / \sqrt{n}}{\bar{x}-\mu 0}$ 
A) $t=\frac{\bar{x}-\mu 0}{s / \sqrt{n}}$ 
B) $z=\frac{s / \sqrt{n}}{\bar{x}-\mu_{0}}$ 
C) $z=\frac{\bar{x}-\mu_{0}}{\sigma / \sqrt{n}}$ 
D) $t=\frac{\sigma / \sqrt{n}}{\bar{x}-\mu 0}$

Question 7

Which of the following is true about chi-square distribution?

Accepted Answer

A) It is a special distribution and is denoted by (C²). 
B) It is characterized by degrees of freedom. 
C) It is computed using the Excel function CHISQ.INV.TEST. 
D) It has a left-tail area equal to the expected value of the sample. 
A) It is a special distribution and is denoted by (C²). 
B) It is characterized by degrees of freedom. 
C) It is computed using the Excel function CHISQ.INV.TEST. 
D) It has a left-tail area equal to the expected value of the sample.

Question 8

Use the data given below to answer the following question(s).
In a lower one-tailed hypothesis test, chosen level of significance = 0.10, true mean = 30, sample size = 55, and t-test statistic = -1.76.
-What is the observed level of significance?

Accepted Answer

A) 0.4605 
B) 0.4191 
C) 0.0379 
D) 0.0420 
A) 0.4605 
B) 0.4191 
C) 0.0379 
D) 0.0420

Question 9

For a two-sample hypothesis test for differences in population parameters (1)and (2), which of the following is the correct form of an upper-tailed test?

Accepted Answer

A) H₀: population parameter (1)- population parameter (2)0 vs.H₁: population parameter (1)- population parameter (2) 0 vs.H₁: population parameter (1)- population parameter (2)≤ 0 
C) H₀: population parameter (1)- population parameter (2) 0 
A) H₀: population parameter (1)- population parameter (2)0 vs.H₁: population parameter (1)- population parameter (2) 0 vs.H₁: population parameter (1)- population parameter (2)≤ 0 
C) H₀: population parameter (1)- population parameter (2) 0

Question 10

If the alternative hypothesis includes the symbol <, the rejection region is in the upper tail.

Accepted Answer

A) True 
 B)False

Question 11

Use the data given below to answer the following question(s).
In a lower one-tailed hypothesis test, chosen level of significance = 0.10, true mean = 30, sample size = 55, and t-test statistic = -1.76.
-Which of the following computes the test statistic for a one-sample test for proportions?

Accepted Answer

A) z = $\frac { \hat{p} - \pi _0 } { \pi ( 1 - \pi_ 0 ) / n }$ 
B) z = $\frac { \hat{p} - \pi _0 } { \pi / n }$ 
C) z = $\frac { \hat{p} - \pi _ { 0 } } { \sqrt { \pi \left( 1 - \pi _ { 0 } \right) / n } }$ 
D) z = $\frac{\hat{p}-\pi _0}{\sqrt{\pi(1-\pi_ 0)^{2} / n}}$ 
A) z = $\frac { \hat{p} - \pi _0 } { \pi ( 1 - \pi_ 0 ) / n }$ 
B) z = $\frac { \hat{p} - \pi _0 } { \pi / n }$ 
C) z = $\frac { \hat{p} - \pi _ { 0 } } { \sqrt { \pi \left( 1 - \pi _ { 0 } \right) / n } }$ 
D) z = $\frac{\hat{p}-\pi _0}{\sqrt{\pi(1-\pi_ 0)^{2} / n}}$

Question 12

In conducting a hypothesis test, what is usually to be proven statistically is identified as the null hypothesis.

Accepted Answer

A) True 
 B)False

Question 13

The confidence coefficient is denoted by:

Accepted Answer

A) α 
B) 1 - β 
C) β 
D) 1 - α 
A) α 
B) 1 - β 
C) β 
D) 1 - α

Question 14

Using the following data, test for the independence of the variables.(Note: Assume a significance level of 0.05 wherever necessary.)
 $$\begin{array} { | c | c | c | } 
\hline \text { Respondent } & \text { Gender } & \text { Breakfast Preference } \
\hline 1 & \text { Female } & \text { Fruits } \
\hline 2 & \text { Male } & \text { Cereal } \
\hline 3 & \text { Male } & \text { Milk } \
\hline 4 & \text { Female } & \text { Fruits } \
\hline 5 & \text { Female } & \text { Milk } \
\hline 6 & \text { Male } & \text { Cereal } \
\hline 7 & \text { Male } & \text { Milk } \
\hline 8 & \text { Male } & \text { Milk } \
\hline 9 & \text { Female } & \text { Fruits } \
\hline 10 & \text { Male } & \text { Fruits } \
\hline 11 & \text { Male } & \text { Cereal } \
\hline 12 & \text { Female } & \text { Cereal } \
\hline 13 & \text { Female } & \text { Milk } \
\hline 14 & \text { Male } & \text { Fruits } \
\hline 15 & \text { Female } & \text { Fruits } \
\hline
\end{array}$$

Accepted Answer

The chi-square test for independence tes

Question 15

Which of the following is true about the value of the power of the test?

Accepted Answer

A) low value will enable valid conclusions to be made 
B) small sample sizes generate a low value of the power of the test 
C) low value will help in detecting small differences in sample statistics 
D) small sample sizes incur higher costs than large sample sizes 
A) low value will enable valid conclusions to be made 
B) small sample sizes generate a low value of the power of the test 
C) low value will help in detecting small differences in sample statistics 
D) small sample sizes incur higher costs than large sample sizes

Question 16

Use the data given below to answer the following question(s).
The following extract from a manufacturer's database shows a sample of 10 suppliers, their transportation charges, and the estimated and actual total costs of supplying materials.(Note: Assume a significance level of 0.05 wherever necessary.)
 $$\begin{array} { | c | c | c | c | } 
\hline \text { Supplier } & \begin{array} { c } 
\text { Transportation } \
\text { Charges }
\end{array} & \begin{array} { c } 
\text { Estimated Total } \
\text { Cost }
\end{array} & \text { Actual Total Cost } \
\hline \text { Peter } & 340 & 4,500 & 4,680 \
\hline \text { John } & 560 & 4,500 & 4,790 \
\hline \text { Martin } & 480 & 4,500 & 5,110 \
\hline \text { Philip } & 290 & 4,500 & 4,780 \
\hline \text { Mark } & 370 & 4,500 & 4,810 \
\hline \text { Thomas } & 520 & 4,500 & 4,770 \
\hline \text { Taison } & 350 & 4,500 & 5,250 \
\hline \text { David } & 430 & 4,500 & 4,930 \
\hline \text { Carter } & 510 & 4,500 & 5,010 \
\hline \text { Leonard } & 270 & 4,500 & 4,810 \
\hline
\end{array}$$
-Conduct the appropriate type of one-sample test-statistic to determine whether the average transportation charge is less than $430.Apply a decision rule using the observed level of significance and draw a conclusion.

Accepted Answer

If the true mean is 430, then the p-valu

Question 17

Which of the following denotes the power of the test?

Accepted Answer

A) α 
B) 1 - β 
C) β 
D) 1 - α 
A) α 
B) 1 - β 
C) β 
D) 1 - α

Question 18

Which of the following is a Type I error?

Accepted Answer

A) the null hypothesis is actually true, and the hypothesis test correctly fails to reject it 
B) the null hypothesis is actually false, but the test incorrectly fails to reject it 
C) the null hypothesis is actually false, and the test correctly rejects it 
D) the null hypothesis is actually true, but the hypothesis test incorrectly rejects it 
A) the null hypothesis is actually true, and the hypothesis test correctly fails to reject it 
B) the null hypothesis is actually false, but the test incorrectly fails to reject it 
C) the null hypothesis is actually false, and the test correctly rejects it 
D) the null hypothesis is actually true, but the hypothesis test incorrectly rejects it

Question 19

What are the four different outcomes of hypothesis testing?

Accepted Answer

Hypothesis testing can result in one of

Question 20

For a lower-tail test, the p-value in the output from an Excel tool:

Accepted Answer

A) is correct if the test-statistic is negative. 
B) is the difference from 1.0 if the test-statistic is negative. 
C) is correct if the test-statistic is zero. 
D) is correct if the test-statistic is positive. 
A) is correct if the test-statistic is negative. 
B) is the difference from 1.0 if the test-statistic is negative. 
C) is correct if the test-statistic is zero. 
D) is correct if the test-statistic is positive.

Which of the following is true while applying the Excel ANOVA tool?

Which of the following propositions describes an existing theory or belief?

Identify the power of the test from the following probabilities.

Which of the following 2010 Excel functions computes the p-value for the chi-square test?

In a two-sample test for means with the population variance being known, the z-test uses a test statistic that is based on the standard normal distribution.

Which of the following is the test statistic for a one-sample test for mean when the population standard deviation is unknown?

Which of the following is true about chi-square distribution?

Use the data given below to answer the following question(s). In a lower one-tailed hypothesis test, chosen level of significance = 0.10, true mean = 30, sample size = 55, and t-test statistic = -1.76. -What is the observed level of significance?

For a two-sample hypothesis test for differences in population parameters (1)and (2), which of the following is the correct form of an upper-tailed test?

If the alternative hypothesis includes the symbol <, the rejection region is in the upper tail.

Use the data given below to answer the following question(s). In a lower one-tailed hypothesis test, chosen level of significance = 0.10, true mean = 30, sample size = 55, and t-test statistic = -1.76. -Which of the following computes the test statistic for a one-sample test for proportions?

In conducting a hypothesis test, what is usually to be proven statistically is identified as the null hypothesis.

The confidence coefficient is denoted by:

Which of the following is true about the value of the power of the test?

Which of the following denotes the power of the test?

Which of the following is a Type I error?

What are the four different outcomes of hypothesis testing?

For a lower-tail test, the p-value in the output from an Excel tool:

Introduction to Business Analytics

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Exam 7: Statistical Inference

Which of the following is true while applying the Excel ANOVA tool?

Which of the following propositions describes an existing theory or belief?

Identify the power of the test from the following probabilities.

Which of the following 2010 Excel functions computes the p-value for the chi-square test?

In a two-sample test for means with the population variance being known, the z-test uses a test statistic that is based on the standard normal distribution.

Which of the following is the test statistic for a one-sample test for mean when the population standard deviation is unknown?

Which of the following is true about chi-square distribution?

Use the data given below to answer the following question(s). In a lower one-tailed hypothesis test, chosen level of significance = 0.10, true mean = 30, sample size = 55, and t-test statistic = -1.76. -What is the observed level of significance?

For a two-sample hypothesis test for differences in population parameters (1)and (2), which of the following is the correct form of an upper-tailed test?

If the alternative hypothesis includes the symbol <, the rejection region is in the upper tail.

Use the data given below to answer the following question(s). In a lower one-tailed hypothesis test, chosen level of significance = 0.10, true mean = 30, sample size = 55, and t-test statistic = -1.76. -Which of the following computes the test statistic for a one-sample test for proportions?

In conducting a hypothesis test, what is usually to be proven statistically is identified as the null hypothesis.

The confidence coefficient is denoted by:

Which of the following is true about the value of the power of the test?

Which of the following denotes the power of the test?

Which of the following is a Type I error?

What are the four different outcomes of hypothesis testing?

For a lower-tail test, the p-value in the output from an Excel tool:

Introduction to Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Sampling and Estimation

Predictive Modeling and Analysis

Regression Analysis

Forecasting Techniques

Simulation and Risk Analysis

Introduction to Data Mining

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Nonlinear and Non-Smooth Optimization

Optimization Models with Uncertainty

Decision Analysis

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