MGMT 22500 Review 3 - Name 11 12 13 14 15 16 17 18 19 20...

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Unformatted text preview: Name 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. MGMT. 225 Answer sheet, Review # 3 -21. 22. 23. 24. 25. Name: 1. Date: Test at the 0.01 level the statement that 55% ofthose families who plan to purchase a vacation residence in Florida want a condominium. The null hypothesis is it = 0.55 and the alternate is 7t :t 0.55. A random sample of 400 families who planned to buy a vacation residence revealed that 228 families want a condominium. What decision should be made regarding the null hypothesis? A) Do not reject it B) Reject it C) Cannot accept nor reject it based on the information given D) None ofthe above A machine is set to fill the small size packages of M&M candies with 56 candies per bag. A sample revealed: 3 bags of 56, 2 bags of 57, 1 bag of 55, and 2 bags of58. How many degrees of freedom are there? A) 9 B) l C) 8 D) 7 . A random sample of size 15 is selected from a normal population. The population standard deviation is unknown. Assume that a two-tailed test at the 0.10 significance level is to be used. For what value oft will the null hypothesis be rejected? A) To the left of—l.282 or to the right of1.282 B) To the left of—l.345 or to the right ofl.345 C) To the left of—l.76l or to the right ofl.761 D) To the left of—l .645 or to the right of 1.645 What are the two rejection areas in using a two-tailed test and the 0.01 level of significance when n is large? A) Above 1.96 and below —1.96 B) Above 1.65 and below —l.65 C) Above 2.58 and below —2.58 D) Above 1.00 and below —-l.00 Page 1 5. For a one-tailed hypothesis test, the critical z-value ofthe test statistic is —2.33. Which ofthe following is true about the hypothesis test? A) CL = 0.05 for a lower—tailed test B) 0t = 0.01 for a lower—tailed test C) OL = 0.05 for an upper-tailed test D) 0t = 0.01 for an upper—tailed test Use the following to answer questions 6-7: The average cost oftuition, room and board at small private liberal arts colleges is reported to be $8,500 per term, but a financial administrator believes that the average cost is higher. A study conducted using 150 small liberal arts colleges showed that the average cost per term is $8,745 with a standard deviation of$1,200. Let (X = 0.05. 6. What is the null and alternative hypotheses for this study? A) Null: y 5 $9,000; alternative: y > $9,000 B) Null: y 2 $9,000; alternative: ,u < $9,000 C) Null: 1! S $8,500; alternative: y > $8,500 D) Null: 11 2 $8,500; alternative: ,u < $8,500 7. What is the critical z—value for this test? A) + 1.96 B) A 1.96 C) +1.65 D) — 1.65 8. A poll of 400 people from Dobbs Ferry showed 250 preferred chocolate raspberry coffee while 170 out of350 in Irvington preferred the same flavor. To test the hypothesis that there is no difference in preferences in the two villages, what is the alternate hypothesis? A) 712] < 712 B) m > m C) 7T] 2 7:2 D) 7t] i 7T2 9. Administering the same test to a group of 15 students and a second group of 15 students to see which group scores higher is an example of A) a one sample test ofmeans. B) a two sample test ofmeans. C) a paired tvtest. D) a test ofproportions. Page 2 10. 11. 12. 13. 14. 15. Iftwo samples are used in a hypothesis test for which the combined degrees of freedom is 24, which one ofthe following is NOT true about the two sample sizes? A) Sample A = 11; sample B =13 B) Sample A = 12; sample B =14 C) Sample A = 13; sample B = 13 D) Sample A = 10; sample B = 16 E) Cannot determine from the above information Using two independent samples, two population means are compared to determine ifa difference exists. The number in the first sample is fifteen and the number in the second sample is twelve. How many degrees of freedom are associated with the critical value? A) 24 B) 25 C) 26 D) 27 Suppose we are testing the difference between two proportions at the 0.05 level of significance. 1f the computed z is —1.07, what is our decision? A) Reject the null hypothesis B) Do not reject the null hypothesis C) Take a larger sample D) Reservejudgment Which ofthe following statements regarding the coefficient of correlation is true? A) It ranges from —1.0 to +1.0 inclusive B) It measures the strength ofthe relationship between two variables C) A value of 0.00 indicates two variables are not related D) All ofthe above What does a coefficient of correlation of 0.70 infer? A) Almost no correlation because 0.70 is close to 1.0 B) 70% ofthe variation in one variable is explained by the other C) Coefficient of determination is 0.49 D) Coefficient of nondetermination is 0.30 What can we conclude ifthe coefficient of determination is 0.94? A) Strength of relationship is 0.94 B) Direction of relationship is positive C) 94% oftotal variation of one variable is explained by variation in the other variable. D) All ofthe above are correct Page 3 16. What does the coefficient of determination equal ifr = 0.89? A) 0.94 ' B) 0.89 C) 0.79 D) 0.06 17. In the regression equation, what does the letter "1)" represent? A) Y intercept B) Slope ofthe line C) Any value ofthe independent variable that is selected D) Value of YwhenX=0 18. Which ofthe following is NOT a difference between a confidence interval and a prediction interval? A) Addition of"1" under the radical for the prediction interval. B) Confidence interval uses the standard error of estimate and the prediction interval does not. C) Prediction interval refers to a specific case. D) Confidence interval is narrower than the prediction interval Use the following to answer questions 19-20: Given the following five points: (—2,0), (—1,0), (0,1), (1,1), and (2,3). 19. What is the critical value necessary to determine a confidence interval for a 90% level of confidence? A) 1.533 B) 1.638 C) 2.132 D) 2.353 20. 1fthe regression equation is Y‘ = 2 — 0.4X, what is the value of Y‘ when X: —3? A) 0.8 B) 3.2 C) 40.0 D) 14.0 Page 4 Use the following to answer questions 21-25: Coefficients Constant —12.8094 Independent Variable 2.179463 ANOVA df SS SSR 1 12323.56 SSE 8 1094.842 SS Total 9 13418.4 21. What is the standard error ofthe estimate? 22. 23. 24. A) 136.8552 B) 12323.56 C) 11.6985 D) Cannot be computed What is the coefficient of determination? A) 91.8% B) 8.2% C) 90.0% D) Cannot be computed What is the correlation coefficient? A) 0.81 B) 0.958 C) 40.84 D) 0.006 The regression equation is: A) Y' = 2.179463 412.8094 X B) Y' = —12.80894 + 2.179463 C) 12.8094 X = 2.179463 Y' D) None ofthe above Page 5 MS E 12323.56 90.04814 136.8552 25. Iftesting the hypothesis: Ho: p = 0, the computed t— statistic is: A) 9.45 B) 8.84 C) 8.18 D) Cannot be computed ...
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