sample Final Exam.doc - Business Statistics – Final Exam – BUQU 1230 Instructions 1 Show your work If at any point you require additional paper for

sample Final Exam.doc - Business Statistics – Final Exam...

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Business Statistics – Final Exam – BUQU 1230 Instructions: 1. Show your work. If at any point you require additional paper for your work please request it. While you may use Excel for whatever functions you choose, please document the results on your exam paper to the extent possible. This will insure you receive partial credit where appropriate. 2. This exam allows the use of Excel, but no other programs. In particular, any use of the Internet will be regarded as cheating. 3. You have 3 hours to complete this test. You may want to read through the entire exam before you start, taking notes of the points awarded for each question, and allocating your time accordingly. 4. Please read each question carefully – if a question asks you to interpret your answer, be sure to interpret your answer to the best of your ability. 5. If you can't answer some part of a question, please don't give up on the rest of the question. Many of the later components of the questions ask you to document your understanding of concepts - even if you aren't able to solve the earlier parts of the question you can still get a good portion of credit for showing you understand some components of the statistical concepts. 6. If you have any questions about an exam question please let me know. Clarification questions will be welcomed throughout the course of this exam; it is a good idea to be sure you understand the question before answering it. 7. You are permitted to refer to your note sheet, provided it meets the specifications given prior to class. You are also permitted to refer to the formula sheet provided by the instructor. You are not permitted to refer to any other student's note sheet. Student Name___________________ Question 1 /23 Question 2 /16 Question 3 /5 Question 4 /20 Question 5 /21 Total /85
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1. (23 points) The Johnsons are a large family – every year they observe the winter holidays by exchanging gifts. Brent, the eldest son, has been keeping records of the number of gifts exchanged for the last 15 years. You will find the data he has compiled in the file: Final Exam Data ACCT 1230.xls within the worksheet called " Question # 1." (Please note that this Excel file contains several worksheets; each worksheet contains the data to a different problem. Be sure you are using the correct worksheet when doing each problem.) Use this data to answer the following questions: A. Brent approaches you and asks: what statistical measures would you use to answer the question: around how many presents do the Johnsons tend to exchange each year? List as many of these measures as possible. Use the data you have found in the Excel file to calculate any of these measures. Which one of these measures would you use as the best answer to Brent's question? Explain why you believe this is the most appropriate measure with which to answer the question.
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