Ch06: Chapter 6, Continuous Distributions
True/False
1. A uniform continuous distribution is also referred to as a rectangular distribution.
Ans: True
Response: See section 6.1, The Uniform Distribution
Difficulty: Easy
Learning Objective: 6.1: Solve for
File: Ch15, Chapter 15: Time-Series Forecasting and Index Numbers
True/False
1. Time-series data are data gathered on a desired characteristic at a particular point in time.
Ans: False
Response: See section 15.1 Introduction to Forecasting
Difficulty: Eas
File: Ch12, Chapter 12: Simple Regression Analysis and Correlation
True/False
1. Correlation is a measure of the degree of linear relationship between two variables.
Ans: True
Response: See section 12.1 Correlation
Difficulty: Easy
Learning Objective: 12.
File: Ch14, Chapter 14: Building Multiple Regression Models
True/False
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.
Ans: True
Response:
File: Ch13, Chapter 13: Multiple Regression Analysis
True/False
1. Regression analysis with two dependent variables and two or more independent variables is
called multiple regression.
Ans: False
Response: See section 13.1 The Multiple Regression Model
Di
File: Ch18, Chapter 18: Statistical Quality Control
True/False
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.
Ans: T
1
Excercise:
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
True/False
1. In a decision analysis problem, variables (such as general macroeconomic conditions) which
are not under the decision makers control are called prior probabilities.
Ans: False
Response: See section 1
Name: _
POM500 Practice Test-1
Note:
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
True/false
1
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.
Ans: True
Response: See section 4.1 Introduction
File: ch03, Chapter 3: Descriptive Statistics
True/False
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.
Ans: True
Response: See section 3.1 Measures
File: Ch08, Chapter 8: Statistical Inference: Estimation for Single Populations
True/False
1. When a statistic calculated from sample data is used to estimate a population parameter, it is called a
point estimate.
Ans: True
Response: See section 8.1 Estim
File: ch02, Chapter 2: Charts and Graphs
True/False
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.
Ans: True
Response: See section 2.1 Frequen
File: ch01, Chapter 1: Introduction to Statistics
True/False
1. Virtually all areas of business use statistics in decision making.
Ans: True
Response: See section 1.1, Statistics in Business
Difficulty: Easy
Learning Objective: 1.1: List quantitative and
File: Ch07, Chapter 7: Sampling and Sampling Distributions
True/False
1. Saving time and money are reasons to take a sample rather than do a census.
Ans: True
Response: See section 7.1 Sampling
Difficulty: Easy
Learning Objective: 7.1: Contrast sampling t
File: ch05, Chapter 5: Discrete Distributions
True/False
1. Variables which take on values only at certain points over a given interval are called continuous
random variables
Ans: False
Response: See section 5.1 Discrete versus Continuous Distributions
Di
File: Ch10, Chapter 10: Statistical Inferences about Two Populations
True/False
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