1. A bank manager wishes to estimate the average waiting time for customers in line for tellers. A random sample of 50 customers’ times is measured and the average waiting time is 5.7 minutes. The population standard deviation of waiting time is 2 minutes. Which Excel function would be used to construct the margin of error for a confidence interval estimate? A. CONFIDENCE.NORM
2. An auto manufacturer wants to estimate the annual income of owners of a particular model of automobile. A random sample of 200 current owners is selected. The population standard deviation is unknown. Which Excel function(s) would NOT be appropriate to use in constructing a confidence interval estimate? A. Both b and c.
3. Assume that you have entered this formula in cell M9: A. COUNTIFS($B$2:$B$8672,F$3,$C$2:$C$8672,$E5)
4. Based on the report in Question 6 above, what is the correlation coefficient? A. 0.8799
5. Based on the report, what is the linear regression equation? A. Predicted price= -28.349*weight+2044.3809
6. Cell address $A$4 is a A. absolute cell reference
7. Excel’s _____ function can be used to compute the expected value of a discrete random variable. A. SUMPRODUCT
8. Excel’s __________ function can be used to calculate a p-value for a hypothesis test when σ is unknown. A. T.DIST
9. Excel’s __________ function(s) can be used to calculate A. NORM.S.DIST or T. DIST
10. Excel’s NORM.DIST function can be used to compute _____. A. Both a and c.
11. Excel’s NORM.INV function can be used to compute _____. A. Both b and c.
12. Excel’s NORM.S.DIST function can be used to compute _____. A. cumulative probabilities for a standard normal z value
13. Excel’s NORM.S.INV function can be used to compute _____. A. the standard normal z value given a cumulative probability
14. Refer to the formula in #9 above. When you copy the formula from M9 to N9, what would Excel display in cell N9? A. COUNTIFS($B$2:$B$8672,G$3,$C$2:$C$8672,$E4)
15. Refer to the formula in #9 above. When you copy the formula from M9 to Q11, what would Excel display in cell Q11? A. COUNTIFS($B$2:$B$8672,J$3,$C$2:$C$8672,$E6)
16. We can use Excel’s _________________ to summarize data for two quantitative variables. A. Scatter diagram tool
17. When using Excel’s BINOM.DIST function, one should choose TRUE for the fourth input if _____. A. a cumulative probability is desired
18. Which Excel functions can you use to compute the linear regression equation? A. Both a and c.
19. Which of the following cell references is an example of a mixed reference? A. $D4
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