- A marketing manager instructs his team to make 80 telephone calls to attempt to sell an insurance policy. The random variable in this experiment is the number of sales made. This random variable is a _____. discrete random variable
- A numerical measure of linear association between two variables is the _____. correlation coefficient
- A population has a mean of 80 and a standard deviation of 7. A sample of 49 observations will be taken. The probability that the mean from that sample will be larger than 82 is _____. .0228
- A regression model between sales (y in $1000s), unit price (x1 in dollars) and television advertisement (x2 in dollars) resulted in the following function:
y^ = 7 – 3×1 + 5×2
For this model, SSR = 3500, SSE = 1500, and the sample size is 18.
Refer to Exhibit 15-2. The coefficient of x2 indicates that if television advertising is increased by $1 (holding the unit price constant), sales are expected to _____. increase by $5000 - A regression model between sales (y in $1000s), unit price (x1 in dollars) and television advertisement (x2 in dollars) resulted in the following function:
y^ = 7 – 3×1 + 5×2
For this model, SSR = 3500, SSE = 1500, and the sample size is 18.
Refer to Exhibit 15-2. The coefficient of the unit price indicates that if the unit price is ___ increased by $1 (holding advertising constant), sales are expected to decrease by $3000 - As the sample size increases, the variability among the sample means _____. Decreases
- Assume z is a standard normal random variable. What is the value of z if the area between -z and zis .754? 1.16
- Exhibit 15-8
The following estimated regression model was developed relating yearly income (y in $1000s) of 30 individuals with their age (x1) and their term-3 gender (x2) (0 if male and 1 if female).
y^= 30 + 0.7×1 + 3×2
Also provided are SST = 1200 and SSE = 384.
Refer to Exhibit 15-8. From the above function, it can be said that the expected yearly income for _____. female is $3,000 more than males - Exhibit 15-8
The following estimated regression model was developed relating yearly income (y in $1000s) of 30 individuals with their age (x1) and their gender (x2) (0 if male and 1 if female).
y^= 30 + 0.7×1 + 3×2
Also provided are SST = 1200 and SSE = 384.
Refer to Exhibit 15-8. The multiple coefficient of determination is _____ .68 - Exhibit 5-7A sample of 2,500 people was asked how many cups of coffee they drink in the morning. You are given the following sample information.
Cups of Coffee ; Frequency
0 ; 700
1 ; 900
2 ; 600
3 ; 300
; 2,500
Refer to Exhibit 5-7. The variance of the number of cups of coffee is _____. .96 - Exhibit 5-7A sample of 2,500 people was asked how many cups of coffee they drink in the morning. You are given the following sample information.
Cups of Coffee ; Frequency
0 ; 700
1 ; 900
2 ; 600
3 ; 300
; 2,500
Refer to Exhibit 5-7. The expected number of cups of coffee is _____. 1.2 - Exhibit 6-3The weight of football players is normally distributed with a mean of 200 pounds and a standard deviation of 25 pounds.
Refer to Exhibit 6-3. What is the minimum weight of the middle 95% of the players? 151 - Exhibit 6-3The weight of football players is normally distributed with a mean of 200 pounds and a standard deviation of 25 pounds.
Refer to Exhibit 6-3. The probability of a player weighing less than 250 pounds is _____. .9772 - Exhibit 6-3The weight of football players is normally distributed with a mean of 200 pounds and a standard deviation of 25 pounds.
Refer to Exhibit 6-3. The probability of a player weighing more than 241.25 pounds is _____. .0495 - Exhibit 7-3The following information was collected from a simple random sample of a population.
16 ; 19 ; 18 ; 17 ; 20 ; 18
Refer to Exhibit 7-3. The point estimate of the mean of the population is 18.0 - Exhibit 7-4A random sample of 121 bottles of cologne showed an average content of 4 ounces. It is known that the standard deviation of the contents (i.e., of the population) is 0.22 ounces.
Refer to Exhibit 7-4. The point estimate of the mean content of all bottles is _____. 4 - Exhibit 7-4A random sample of 121 bottles of cologne showed an average content of 4 ounces. It is known that the standard deviation of the contents (i.e., of the population) is 0.22 ounces.
Refer to Exhibit 7-4. The standard error of the mean equals _____. .0200 - Exhibit 7-4A random sample of 121 bottles of cologne showed an average content of 4 ounces. It is known that the standard deviation of the contents (i.e., of the population) is 0.22 ounces.
Refer to Exhibit 7-4. In this problem, the .22 is _____. a parameter - For any continuous random variable, the probability that the random variable takes on exactly a specific value is _____. 0
- If a qualitative variable has k levels, the number of dummy variables required is _____. k− 1
- If r = 0.48 for data set A and r = -0.48 for data set B, which of the following is true? The two data sets have the same level of correlation.
- Random samples of size 49 are taken from a population that has 200 elements, a mean of 180, and a variance of 196. The distribution of the population is unknown. The mean and the standard error of the distribution of sample means are _____. 180 and 2
- Regression analysis is a statistical procedure for developing a mathematical equation that describes how _____. one dependent and one or more independent variables are related
- The difference between the observed value of the dependent variable and the value predicted by using the estimated regression equation is the _____. Residual
- The expected value of a random variable is the _____. mean value
- The following estimated regression model was developed relating yearly income (y in $1000s) of 30 individuals with their age (x1) and their gender (x2) (0 if male and 1 if female).
y^ = 30 + 0.7×1 + 3×2
Also provided are SST = 1200 and SSE = 384.
Refer to Exhibit 15-8. The yearly income of a 24-year-old male individual is _____ $46,800 - The probability distribution of all possible values of the sample mean is called the ____. sampling distribution of the sample mean
- When the population has a normal distribution, the sampling distribution of is normally distributed _____. for any sample size
- Which of the following is NOT a characteristic of the normal probability distribution? The graph of the curve is the shape of a rectangle.
- Excel’s HYPGEOM.DIST function can be used to compute _. only hypergeometric probabilities
- Which of the following is NOT a required condition for a discrete probability function? Σf(x) = 0
- Exhibit 5-8 The student body of a large university consists of 60% female students. A random sample of 8 students is selected. What is the probability that among the students in the sample at least 6 are male? .0499
- A weighted average of the value of a random variable, where the probability function provides weights, is known as _. the expected value
- Exhibit 5-7 A sample of 2,500 people was asked how many cups of coffee they drink in the morning. You are given the following sample information.
| Cups of Coffee | Frequency |
| 0 | 700 |
| 1 | 900 |
| 2 | 600 |
| 3 | 300 2500 |
The variance of the number of cups of coffee is _. .96
35. To compute the probability that in a random sample of n elements, selected without replacement, we will obtain x successes, we would use the _. hypergeometric probability distribution
36. Exhibit 5-5 AMR is a computer-consulting firm. The number of new clients that it has obtained each month has ranged from 0 to 6. The number of new clients has the probability distribution that is shown below.
| NUMBER OF NEW CLIENTS | Probability |
| 0 | 0.05 |
| 1 | 0.10 |
| 2 | 0.15 |
| 3 | 0.35 |
| 4 | 0.2 |
| 5 | 0.1 |
| 6 | 0.05 |
The standard deviation is _. 1.431
37. Exhibit 5-10 The probability Pete will catch fish when he goes fishing is .8. Pete is going fishing 3 days next week. The expected number of days Pete will catch fish is _. 2.4
38. The expected value of a random variable is the _. measure of the central location of a random variable
39. When using Excel’s HYPGEOM.DIST function, one should choose TRUE for the fifth input if _. a cumulative probability is desired
40. Exhibit 5-2
The probability distribution for the daily sales at Michael’s Co. is given below.
Daily Sales ($1000s) Probability
40 0.1
50 0.4
60 0.3
70 0.2
The expected daily sales are _. $56,000
41. Exhibit 5-10
The probability Pete will catch fish when he goes fishing is .8. Pete is going fishing 3 days next week.
The probability that Pete will catch fish on 1 or fewer days is _. .104
42. Consider the following probability distribution.
The expected value of x equals _. 64
43. The probability distribution for the number of goals the Lions soccer team makes per game is given below.
Number of Goals Probability
0 0.15
1 0.3
2 0.1
3 0.35
4 0.1
The expected number of goals per game is _. 1.95
44. The key difference between binomial and hypergeometric distributions is that with the hypergeometric distribution the _. probability of success changes from trial to trial
45. Exhibit 5-10
The probability Pete will catch fish when he goes fishing is .8. Pete is going fishing 3 days next week.
The probability that Pete will catch fish on exactly 1 day is _. .096
46. A production process produces 2% defective parts. A sample of five parts from the production process is selected. What is the probability that the sample contains exactly two defective parts? .0038
47. When using Excel’s BINOM.DIST function, one should choose TRUE for the fourth input if _. a cumulative probability is desired
48. Exhibit 5-11
The random variable x is the number of occurrences of an event over an interval of 10 minutes. It can be assumed the probability of an occurrence is the same in any two time periods of an equal length. It is known that the mean number of occurrences in 10 minutes is 5.3.
The random variable x satisfies which of the following probability distributions? Poisson
49. The Poisson probability distribution is a _. discrete probability distribution
50. If one wanted to find the probability of 10 customer arrivals in an hour at a service station, one would generally use the _. Poisson probability distribution
51. Exhibit 5-11
The random variable x is the number of occurrences of an event over an interval of 10 minutes. It can be assumed the probability of an occurrence is the same in any two time periods of an equal length. It is known that the mean number of occurrences in 10 minutes is 5.3.
The probability there are 8 occurrences in 10 minutes is _____. .0771
52. The variance for the binomial probability distribution is _. Var(x) = np(1 − p)
53. The _ probability function is based in part on the counting rule for combinations. hypergeometric
54. When sampling without replacement, the probability of obtaining a certain sample is best given by a _. hypergeometric distribution
55. An example of a bivariate experiment is _. rolling a pair of dice
56. Exhibit 5-9
Forty percent of all registered voters in a national election are female. A random sample of 5 voters is selected.
What is the random variable in this experiment? the number of female voters out of 5
57. Highway patrol officers measure the speed of automobiles on a highway using radar equipment. The random variable in this experiment is speed, measured in miles per hour. This random variable is a _. continuous random variable
58. Assume that you have a binomial experiment with p
= 0.5 and a sample size of 100. The expected value of this distribution is _____. 0.50
59. In a binomial experiment, the probability of success is .06. What is the probability of two successes in seven trials? .0554
60. When using Excel’s POISSON.DIST function, one should choose TRUE for the third input if _. a cumulative probability is desired
61. Which of the following statements about a discrete random variable and its probability distribution is true? Values of f(x) must be greater than or equal to zero.
62. The weight of an object, measured to the nearest gram, is an example of _. a discrete random variable
63. Four percent of the customers of a mortgage company default on their payments. A sample of five customers is selected. What is the probability that exactly two customers in the sample will default on their payments? .0142
64. The expected value for a binomial probability distribution is _. E(x) = np
65. Exhibit 5-8
The student body of a large university consists of 60% female students. A random sample of 8 students is selected.
What is the random variable in this experiment? the number of female students out of 8
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