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Normal Tables - Business Statistics - Exam, Exams of Business Statistics

This is the Past Exam of Business Statistics which includes Residual, Diameter, Fitted Regression, Predicts, Volume, Diameter and Height, Largest Residual, Residual Standard Deviation, Model Fit etc. Key important points are: Normal Tables, Ecological Variable, Variable, Designed Experiment, Fake Treatment, Disguised, Real Treatment, Relationship, Annual Salary, Indicator Variable

Typology: Exams

2012/2013

Uploaded on 02/26/2013

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22S:008 Exam 2, Part I, April 9, 1999 Name:_______________________________
Please circle one. Section: 11:30, 12:30, or 2:30
Please enter all of your answers on these exam pages. There are 19 questions. The Defective Question Report
Formula sheet and Normal tables will be handed out separately.
1. (2 pts) In a designed experiment, a sham or fake treatment disguised as a real treatment it is called a placebo.
A) True B) False
2. (2 pts) An ecological variable is a variable that plausibly explains a relationship between two other
variables.
A) True B) False
3. (3 pts) Suppose y is a response variable of annual salary, x is a continuous predictor variable of years of
experience, and z is a binary indicator variable indicating gender (z=1 means female, z=0 means male).
Consider the regression model with fitted equation: . What coefficient or combination of
coefficients represents the predicted annual salary for a male with one year of experience?
A) b0
B) b1
C) b2
D) b0+b1
E) b0+b2
4. (3 pts) In a taste test of three pizza recipes, several different tasters evaluated each of the three recipes. This is
an example of
A) replication
B) blinding
C) placebo
D) randomization
E) control
5. (2 pts.) In the preceding question there are _____ factor(s) each with _____ levels.
6. (3 pts) A professor asked his class to guess his age in years. Half the class were given the hint that his oldest
child was 35 years old. The other half received no hint. The half that received no hint is called the
A) blind group
B) control group
C) factor group
D) treatment group
E) None of the above.
y
ˆb0b1xb
2z
++=
pf3
pf4
pf5

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22S:008 Exam 2, Part I, April 9, 1999 Name:_______________________________

Please circle one. Section: 11:30, 12:30, or 2:

Please enter all of your answers on these exam pages. There are 19 questions. The Defective Question Report Formula sheet and Normal tables will be handed out separately.

  1. (2 pts) In a designed experiment, a sham or fake treatment disguised as a real treatment it is called a placebo.

A) True B) False

  1. (2 pts) An ecological variable is a variable that plausibly explains a relationship between two other variables. A) True B) False
  2. (3 pts) Suppose y is a response variable of annual salary, x is a continuous predictor variable of years of experience, and z is a binary indicator variable indicating gender ( z =1 means female, z =0 means male). Consider the regression model with fitted equation:. What coefficient or combination of coefficients represents the predicted annual salary for a male with one year of experience? A) b 0 B) b 1 C) b 2 D) b 0 + b 1 E) b 0 + b 2
  3. (3 pts) In a taste test of three pizza recipes, several different tasters evaluated each of the three recipes. This is an example of A) replication B) blinding C) placebo D) randomization E) control
  4. (2 pts.) In the preceding question there are _____ factor(s) each with _____ levels.
  5. (3 pts) A professor asked his class to guess his age in years. Half the class were given the hint that his oldest child was 35 years old. The other half received no hint. The half that received no hint is called the A) blind group B) control group C) factor group D) treatment group E) None of the above.

y ˆ^ = b 0 + b 1 x + b 2 z

  1. (3 pts) There is a strong positive correlation between the number of fire trucks sent to a fire and the amount of damage done at the fire. This is an example of: A) a lurking variable B) ecological correlation C) cause and effect D) consistency E) mechanism
  2. (2 pts) A straight-line model was fit to several data points using least squares. S ome of the results are shown in the table at the right. What is the fitted value when x = 12 (to the nearest tenth)? A) −2. B) 12 C) 504 D) 506. E) Cannot be determined from the information given.
  3. (2 pts) Use the information in question 8. What is the residual for the last case where x = 13? Show your work.

residual = __________

  1. (3 pts) Use the information in question 8. What is the slope of the least squares regression line? Show your work.

slope = __________

x y fitted value residual

7 510 504.9 5.

? 503 505.2?

... ... ... ...

12 504? −2.

13 512 506.7?

  1. (2 pts) Consider the scatterplot shown at the right. If the y value for the outlier were changed to a value of y = 40 the correlation in the scatterplot would increase. A) True B) False
  2. (3 pts) Three distributions are shown at the right. One represents the distribution of individual values, one the distribution of means from random samples of size 4, and one the distribution of means from random samples of size 25. Which is the correct order for: individuals, mean of 4, mean of 25?

A) A, B, C

B) C, B, A

C) C, A, B

D) B, C, A

E) B, A, C

  1. (2 pts) Which one of the following statements is false regarding control charts?

A) Control charts can help avoid tampering with a stable process. B) Control charts can help managers decide appropriate action to take concerning their processes. C) Control charts help managers detect special causes of variation in their processes. D) Control charts can be applied to service businesses as well as manufacturing. E) Control charts were invented by the Japanese within the last 25 years.

  1. (3 pts) The times necessary to complete service for a class of bank customers is described by a normal distribution with mean 9 minutes and standard deviation 2.2 minutes. Service times are considered excessive if they exceed 15 minutes. Over the long run, what percent of customers will experience excessive service times?

Answer = ____________

0 10 20

10

20

30

40

50

x

y

1 2 3 4 5 6

Density

Distribution A

1 2 3 4 5 6

Density

Distribution B

1 2 3 4 5 6

Density

Distribution C

  1. (4 pts) A random sample of size 100 is selected from 10,000 accounts. In the 10,000 accounts the mean account size is $150 and the standard deviation is $75. The shape of the distribution of account sizes is not known. What is the chance that the mean amount in the 100 accounts sampled is greater than $165?

Answer = ____________

  1. (3 pts) In lecture we used a “managed” dice-roll process where we adjusted the current dice total based on the last dice total in order to roll more sevens. This example illustrates: A) improving an out-of-control process. B) improving an in-control process. C) tampering with an in-control process. D) how to reduce the variation in an in-control process. E) how to find special causes.
  2. (3 pts) An analyst is using regression to model the Market value of houses using the size of the house, Sq.ft, and a categorical variable, Grade, that has values Grade=−1 for Low grade houses, Grade=0 for Medium grade houses, and Grade=+1 for High grade houses. The model is Market=b 0 +b 1 Sq.ft+b 2 Grade. Which of the following statements best describes this model?

A) This model is a parallel-planes model. B) This model is one plane. C) This model is a parallel-lines model with arbitary vertical distance between the lines. D) This model is a parallel-lines model with equal vertical distance between the lines. E) None of the above.