QM 520 - QUIZ 1 ALL QUESTIONS. PLUS ANSWERS. ALL 100% CORRECT.
standard deviation of $5,000. What is the probability that a randomly selected individual w
... [Show More] ith an MBA degree
will get a starting salary of at least $47,500?
Select one:
A. 0.0668
B. 0.0798
C. 0.4332
D. 0.4499
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The correct answer is: 0.0668
A numerical value used as a summary measure for a sample, such as sample mean, is known as
Select one:
a. Population Parameter
b. Sample parameter
c. Population mean
d. Sample statistics
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The correct answer is: Sample statistics
The standard deviation of a standard normal distribution
Select one:
A. is always equal to zero
B. is always equal to one
C. can be any positive value
D. can be any value
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The correct answer is: is always equal to one
A student makes an 82 on the first test in a statistics course. From this, she assumes that her average at the end
of the semester (after other tests) will be about 82. This is an example of __________.
Select one:
A. descriptive statistics
B. inferential statistics
C. nonparametric statistics
D. wishful thinking
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The correct answer is: inferential statistics
The following data give the number of computer keyboards assembled at the Twentieth Century Electronics
Company. The sample mean and median values, respectively, are
Select one:
a. 87, 42
b. 55.25, 52.5
c. 52.5, 55.25
d. 42, 87
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The correct answer is: 55.25, 52.5
The Ordinal scale of measurement has the properties of the
Select one:
a. ratio scale of measurement
b. interval scale of measurement
c. nominal scale of measurement
d. ration and interval scales of measurement
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The correct answer is: nominal scale of measurement
What is the mean of the following data set: 1, 2, 3, 4, 5, 6?
Select one:
a. 2.5
b. 3.5
c. 2.75
d. None of the above
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The correct answer is: 3.5
For a standard normal distribution, the probability of z<0 is
Select one:
A. Zero
B. 1.0
C. 0.25
D. 0.5
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The correct answer is: 0.5
If the mean of a normal distribution is negative
Select one:
A. The standard deviation must also be negative
B. The variance must also be negative
C. A mistake has been made in the computations, because the mean of a normal distribution cannot be
negative.
D. None of these alternatives is correct.
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The correct answer is: None of these alternatives is correct.
Tim Jackson1, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is leading a study to
identify and assess the relative importance of product features. Tim directs his staff to design a survey
questionnaire for distribution to all of Plano's 954 customers. For this study, the set of 954 customers is a
__________.
Select one:
A. statistic
B. population
C. parameter
D. sample
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The correct answer is: population [Show Less]