Question No.1Marks - 10

A survey to collect data on the entire population is

Options

a census

a sample

a population

an inference

uestion No.2Marks - 10

A portion of the population selected to represent the population is called

Options

statistical inference

descriptive statistics

a census

a sample

Question No.3Marks - 10

Qualitative data can be graphically represented by using a(n)

Options

histogram

frequency polygon

ogive

bar graph

Question No.4Marks - 10

Fifteen percent of the students in a school of Business Administration are majoring in Economics, 20% in Finance, 35% in Management, and 30% in Accounting. The graphical device(s) which can be used to present these data is (are

Options

a line graph

only a bar graph

only a pie chart

both a bar graph and a pie chart

Question No.6Marks - 10

The mean of a sample

Options

is always equal to the mean of the population

is always smaller than the mean of the population

is computed by summing the data values and dividing the sum by (n - 1)

is computed by summing all the data values and dividing the sum by the number of items

Question No.7Marks - 10

The median of a sample will always equal the

Options

mode

mean

50th percentile

all of the above answers are correct

Question No.8Marks - 10

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

Options

variance

interquartile range

range

coefficient of variation

Question No.9Marks - 10

The most frequently occurring value of a data set is called the

Options

range

mode

mean

median

Question No.10Marks - 10

The heights (in inches) of 25 individuals were recorded and the following statistics were calculatedmean = 70range = 20

mode = 73variance = 784

median = 74

The coefficient of variation equals

Options

11.2%

1120%

0.4%

40%

Question No.11Marks - 10

The standard deviation of a sample of 100 observations equals 64. The variance of the sample equals

Options

8

10

6400

4,096

Question No.12Marks - 10

Which of the following isnota measure of dispersion?

Options

the range

the 50th percentile

the standard deviation

the interquartile range

Question No.13Marks - 10

The coefficient of variation is

Options

the same as the variance

the standard deviation divided by the mean times 100

the square of the standard deviation

the mean divided by the standard deviation

Question No.14Marks - 10

A numerical measure of linear association between two variables is the

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variance

coefficient of variation

correlation coefficient

standard deviation

Question No.15Marks - 10

The coefficient of correlation ranges between

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0 and 1

-1 and +1

minus infinity and plus infinity

1 and 100

Question No.16Marks - 10

Options

regression equation

correlation equation

estimated regression equation

regression model

A regression analysis between sales (Y in $1000) and advertising (X in dollars) resulted in the following equation

The above equation implies that an

Options

increase of $4 in advertising is associated with an increase of $4,000 in sales

increase of $1 in advertising is associated with an increase of $4 in sales

increase of $1 in advertising is associated with an increase of $34,000 in sales

increase of $1 in advertising is associated with an increase of $4,000 in sales

Question No.18Marks - 10

Regression analysis is a statistical procedure for developing a mathematical equation that describes how

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one independent and one or more dependent variables are related

several independent and several dependent variables are related

one dependent and one or more independent variables are related

None of these alternatives is correct

Question No.19Marks - 10

Options

increase by 120 units

increase by 100 units

increase by 20 units

decease by 20 units

Question No.20Marks - 10

Which of the following is not present in a time series?

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seasonality

operational variations

trend

cycles

Question No.21Marks - 10

The trend component is easy to identify by using

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moving averages

exponential smoothing

regression analysis

the Delphi approach

uestion No.22Marks - 10

The forecasting method that is appropriate when the time series has no significant trend, cyclical, or seasonal effect is

Options

moving averages

mean squared error

mean average deviation

qualitative forecasting methods

Question No.23Marks - 10

If P(A) = 0.4, P(B | A) = 0.35, P(AB) = 0.69, then P(B) =

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0.14

0.43

0.75

0.59

Question No.24Marks - 10

If P(A) = 0.5 and P(B) = 0.5, then P(AB)

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is 0.00

is 1.00

is 0.5

None of these alternatives is correct.

Question No.25Marks - 10

A probability distribution showing the probability of x successes in n trials, where the probability of success does not change from trial to trial, is termed a

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uniform probability distribution

binomial probability distribution

hypergeometric probability distribution

normal probability distribution

Question No.26Marks - 10

Four percent of the customers of a mortgage company default on their payments. A sample of five customers is selected. What is the probability that exactly two customers in the sample will default on their payments?

Options

0.2592

0.0142

0.9588

0.7408

Question No.27Marks - 10

The center of a normal curve is

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always equal to zero

is the mean of the distribution

cannot be negative

is the standard deviation

Question No.28Marks - 10

Options

0.9091

0.4812

0.4279

0.0533

Question No.29Marks - 10

A tabular representation of the payoffs for a decision problem is a

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decision tree

payoff table

matrix

sequential matrix

Question No.30Marks - 10

A decision criterion which weights the payoff for each decision by its probability of occurrence is known as the

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Payoff criterion

expected value criterion

probability

expected value of perfect information

Question No.31Marks - 10

The expected opportunity loss of the best decision alternative is the

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expected monetary value

payoff

expected value of perfect information

None of these alternatives is correct.

uestion No.32Marks - 10

An assumption made about the value of a population parameter is called a

Options

hypothesis

conclusion

confidence

significance

Question No.33Marks - 10

The level of significance is the

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maximum allowable probability of Type II error

maximum allowable probability of Type I error

same as the confidence coefficient

same as thep-value

Question No.34Marks - 10

The level of significance in hypothesis testing is the probability of

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accepting a true null hypothesis

accepting a false null hypothesis

rejecting a true null hypothesis

None of these alternatives is correct.

Question No.35Marks - 10

A soft drink filling machine, when in perfect adjustment, fills the bottles with 12 ounces of soft drink. Any over filling or under filling results in the shutdown and readjustment of the machine. To determine whether or not the machine is properly adjusted, the correct set of hypotheses is

Options

Question No.36Marks - 10

Whenever all the constraints in a linear program are expressed as equalities, the linear program is said to be written in

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bounded form.

feasible form.

standard form.

alternative form.

Question No.37Marks - 10

if an artificial variable is present in the basic variable column of simplex table, then the solution is

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degenerate

infeasible

unbounded

none of the above

Question No.38Marks - 10

The solution to a transportation problem withm -row andn -columns is feasible if number of positive allocations are

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m x n

m + n

m + n - 1

m + n + 1

Question No.39Marks - 10

Slack

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is the difference between the left and right sides of a constraint.

exists for each variable in a linear programming problem.

Question No.40Marks - 10

To find the optimal solution to a linear programming problem using the graphical method

Options

find the feasible point that is at the highest location.

find the feasible point that is closest to the origin.

find the feasible point that is the farthest away from the origin.

None of the alternatives is correct.