11. What should be the first step in calculating the interquartile range?

a) Arrange all data point from lowest to highest

b) Identify the median of the data set

c) Subtract the median of the lower half from median of the upper half of the data range

d) Calculate the quality of the data

12. A satisfaction survey of customers was recently conducted. The average rating of online reviews is 2.5 out of 5, while in-store customers gave a rating of 4.5 out of 5.

Which populations should be used to compare the ratings?

a) In-store customers versus total customers

b) In-store customers versus online reviewers

c) Total customers versus online reviewers

d) Online reviewers versus total customers

13. A company wants to locate a new warehouse for its inventory, Labor costs, land costs, and transport costs to all major stores are known by the company. Which technique should be used to minimize total costs?

a) Simulation

b) Linear programming

c) Break-even

d) Linear regression

14. For which function should business managers avoid using statistics?

a) Conducting quality control analyses

b) Developing new products

c) Justifying managerial decisions after they have been implemented

d) Understanding the demographics of their customers

15. A researcher notes that people who eat a candy bar a day also to be obese. The researcher then conducts a test that does not confirm the observation regarding the study subjects' obesity. How could the research be flawed?

a) Conscious bias

b) Response bias

c) Confusing cause and effect

d) Lack of blinding 16. Which two statistics are not adversely influenced by outliers? Choose two answers?

a) Mean of a sample

b) Median of a sample

c) Interquartile range of a sample

d) Standard deviation of a sample

17. A grocery store chain has found that the probability of a customer buying peanut butter is 0.40, the probability of a customer buying diapers is 0.25, and the probability of a customer buying peanut butter given that diapers have already been purchased is 0.80.

What is the statistical rule to determine the probability that a customer will buy diapers given that peanut butter has already been purchased?

a) Central limit theorem

b) Multiplication

c) Combination d) Bayes Theorem

18. Ten people are randomly assigned to work in groups of two to develop a business plan. What should be used to find the probability that two people will be chosen for the same team twice in a row?

a) Combination b) Multiplication principle c) Bayes' Theorem

d) Conditional probability

19. Two variables are plotted on a scatterplot and the points on the plot are completely random with no identifiable pattern.

What is the likely correlation between the two variables?

a) Close to 1.0

b) Close to 0

c) Close to -1.0

d) Close to 2.0

20. In-store signage was presented in two formats that matched store locations of an electronics retailer. A paired sample t-test was performed to compare means on sales.

Which type of variable was represented by the signage?

a) Criterion variable

b) Independent variable

c) Dependent variable

d) Mediating variable