Ch06: Chapter 6, Continuous Distributions
1. A uniform continuous distribution is also referred to as a rectangular distribution.
Response: See section 6.1, The Uniform Distribution
Learning Objective: 6.1: Solve for
File: Ch15, Chapter 15: Time-Series Forecasting and Index Numbers
1. Time-series data are data gathered on a desired characteristic at a particular point in time.
Response: See section 15.1 Introduction to Forecasting
File: Ch12, Chapter 12: Simple Regression Analysis and Correlation
1. Correlation is a measure of the degree of linear relationship between two variables.
Response: See section 12.1 Correlation
Learning Objective: 12.
File: Ch14, Chapter 14: Building Multiple Regression Models
1. Regression models in which the highest power of any predictor variable is 1 and in which
there are no cross product terms are referred to as first-order models.
File: Ch13, Chapter 13: Multiple Regression Analysis
1. Regression analysis with two dependent variables and two or more independent variables is
called multiple regression.
Response: See section 13.1 The Multiple Regression Model
File: Ch18, Chapter 18: Statistical Quality Control
1. One definition that captures the spirit of most quality efforts in the business world is that
quality results when a product delivers what is stipulated for it in its specifications.
Consultex was founded in 2007 as a small business consulting business. The company had done
reasonably well in 2007-2009, but started noticing its cash dwindle early in 2010. In January 2010,
Consultex had paid $16,000 to purchase land and re
File: Ch19, Chapter 19: Decision Analysis
1. In a decision analysis problem, variables (such as general macroeconomic conditions) which
are not under the decision makers control are called prior probabilities.
Response: See section 1
POM500 Practice Test-1
1) Multiple choice questions are 1 marks each. Problems are 2 marks each.
2) Attempt ALL questions. Maximum you can score is 40.
1. How many scales of measurement exist?
A 1 B 2 C 3 D 4
2. In a questionnaire, respo
File: ch04, Chapter 4: Probability
1. Inferring the value of a population parameter from the statistic on a random sample drawn from the
population is an inferential process under uncertainty.
Response: See section 4.1 Introduction
File: ch03, Chapter 3: Descriptive Statistics
1. Statistical measures used to yield information about the center or the middle parts of a group
of numbers are called the measures of central tendency.
Response: See section 3.1 Measures
File: Ch08, Chapter 8: Statistical Inference: Estimation for Single Populations
1. When a statistic calculated from sample data is used to estimate a population parameter, it is called a
Response: See section 8.1 Estim
File: ch02, Chapter 2: Charts and Graphs
1. A summary of data in which raw data are grouped into different intervals and the number of
items in each group is listed is called a frequency distribution.
Response: See section 2.1 Frequen
File: ch01, Chapter 1: Introduction to Statistics
1. Virtually all areas of business use statistics in decision making.
Response: See section 1.1, Statistics in Business
Learning Objective: 1.1: List quantitative and
File: Ch07, Chapter 7: Sampling and Sampling Distributions
1. Saving time and money are reasons to take a sample rather than do a census.
Response: See section 7.1 Sampling
Learning Objective: 7.1: Contrast sampling t
File: ch05, Chapter 5: Discrete Distributions
1. Variables which take on values only at certain points over a given interval are called continuous
Response: See section 5.1 Discrete versus Continuous Distributions
File: Ch10, Chapter 10: Statistical Inferences about Two Populations
1. To determine if there is a difference in the speed of a wireless router from two different
manufacturers a network manager will draw independent samples of wireless routers
Which was the problem the SEC was trying to avoid?
- The main concern of SEC was the tendency that the meeting of
investors earnings expectations was prevailing over the normal
book keeping practices. Companies were willing to put more
money in the unearn