1.When you use Excel to calculate the p-value for a simple comparison, which components will you have in the formula?

a.numerator and denominator

b.denominator and variance

c.t-distribution and degrees of freedom

d.t-distribution and standard error

2.How can you use Excel to quickly calculate multiple correlation coefficients?

a.Have Excel add the coefficients for each correlation.

b.Translate the long-hand formula for calculating r to an Excel formula.

c.Run a multiple regression from the Data Analysis Toolpak.

d.Use Excel to multiply the coefficients for each correlation.

3.You plot your chi-square distribution on a scatter chart with smooth lines. If you increase degrees of freedom, what effect will it have on the curve?

a.The peak of the curve will move to the left.

b.The peak of the curve will move up.

c.The peak of the curve will move to the right.

d.The peak of the curve will move down.

4.How do you calculate the expected value of two independent variables?

a.pr(A) / pr(b)

b.pr(A) x pr(B)

c.pr(A) pr(B)

d.pr(A) + pr(b)

5.Your data set is in a table. If you click on the Ideas icon, what will you see?

a.You will see a list of formulas that can be used to make calculations from the data.

b.You will see suggestions for how to work with the table.

c.You will see various chart-type options for displaying the data.

d.You will see the formatting tools to make your table more presentable.

6.You have a set of data with 1,000 samples in the sampling distribution. Which tool in Excel will let you quickly repeat the simulated Central Limit Theorem sampling across all 1,000 means?

a.the pivot table

b.the drag-and-drop function

c.the data table

d.the simulate function

7.Your correlation coefficients are in cell C3. If you enter the formula =fisher(C3), what are you doing?

a.converting the correlation coefficients to t-scores

b.converting the correlation coefficients to z-scores

c.converting the correlation coefficients to r-scores

d.converting the correlation coefficients to p-scores

8.Why should you use the Analysis Toolpak?

a.The Analysis Toolpak provides tools otherwise only available in expensive statistical software.

b.You will not be able to use formulas if you have not installed the Analysis Toolpak.

c.You will not be able to enter numerical data in Excel without the Analysis Toolpak.

d.The Analysis Toolpak contains the chart and graphing capabilities for Excel.

9.Which statistical function would you use to calculate a correlation between two variables, when the data is Education_Years in column A and Income in column B?

a.Use the function=CORLAT(education_years,income).

b.Use the function=RELATE(education_years,income).

c.Use the function=COEFF(education_years,income).

d.Use the function=CORREL(education_years,income).

10.When you perform an exponential regression analysis in Excel, what are you doing?

a.examining the relationship between X and Y, disregarding logarithms

b.examining the relationship between the X and the Y

c.examining the relationship between the natural logarithms of X and Y

d.examining the relationship between an X and the natural logarithm of Y

11.You run a regression in Excel. Which statistic(s) would indicate a close fit of the line to the data?

a.the multiple R-score

b.the adjusted R-squared

c.a low f-ratio and a high p-value

d.a high f-ratio and a low p-value

12.You run a two-way ANOVA and enter the formula in Excel for the t-tests. Before you can draw any conclusions, what must you do?

a.Use =T.DIST.1T to get the p-values, because you would not know the directionality of the differences in advance.

b.Use =T.DIST.2T to get the p-values, because you would not know the directionality of the differences in advance.

c.Use =P.DIST.2T to get the p-values, because you would not know the directionality of the differences in advance.

d.Use =P.DIST.1T to get the p-values, because you would not know the directionality of the differences in advance.

13.Which chart type would you use to visualize a business simulation based on the probability of profit, which in turn is based on the components payroll, marketing, and production costs?

a.Use a line chart, because you can readily see changes to profit as you change values in any of your components.

b.Use a pie chart, because you can readily see changes to profit as you change values in any of your components.

c.Use a histogram, because you can readily see changes to profit as you change values in any of your components.

d.Use a scattergram, because you can readily see changes to profit as you change values in any of your components.

14.Your manufacturing engineers have suggested four different processes to use, each with supporting data. When is the only time you would use a statistical complex comparison to make a decision?

a.before you perform an ANOVA on the data the engineers supply

b.after you have received a significant ANOVA result

c.after you have received an insignificant ANOVA result

d.when you do not have enough data to perform an ANOVA

15.In performing a trend analysis, what are linear and quadratic components?

a.Linear is the straight-line one-directional component of the overall trend, and quadratic is one change in the direction of the trend.

b.Quadratic is the component that shows the trend of multiple trials, and linear shows the trend of a single trial.

c.Linear is the straight-line component of the overall trend, and quadratic is the one-directional component.

d.Quadratic is the multi-directional component of the overall trend, and linear is the one-directional component.