Can someone assist with any of these questions below: Question 1.The time required to play a certain
Question:
Can someone assist with any of these questions below:
Question 1.The time required to play a certain game is uniformly distributed between 30 and 52 minutes. Complete parts a through c below.
a. Find the expected value and variance of the time to complete the game.
The expected value of the time to complete the game is
enter your response here
minutes.
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 2
The variance of the time to complete the game is
enter your response here.
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 3
b. What is the probability of finishing within
48
minutes?
enter your response here
(Type an integer or decimal rounded to three decimal places asneeded.)
Part 4
c. What is the probability that the game would take longer than
44
minutes?
enter your response here
(Type an integer or decimal rounded to three decimal places asneeded.)
Question 2.Use PivotTables to find the number of sales transactions by product andregion, total amount of revenue byregion,and total amount of revenue by region and product in the accompanying Sales Transactions data.
Cust ID | Region | Transaction Code | Amount | Product |
10001 | East | 93966148 | 20.52 | DVD |
10002 | West | 74083490 | 18.16 | DVD |
10003 | North | 64942368 | 23.98 | DVD |
10004 | West | 70553543 | 24.99 | Book |
10005 | South | 35208817 | 15.74 | Book |
10006 | West | 20978903 | 17.3 | DVD |
10007 | East | 80184924 | 180.12 | Book |
10008 | West | 14132683 | 22.05 | Book |
10009 | West | 40128225 | 15.92 | DVD |
10010 | South | 50439088 | 23.46 | DVD |
10011 | South | 57398827 | 25.78 | Book |
10012 | East | 34400661 | 20.39 | Book |
10013 | North | 55985274 | 21.54 | DVD |
10014 | East | 62597750 | 152.44 | Book |
10015 | west | 51555882 | 21.01 | DVD |
10016 | West | 59630712 | 23.27 | DVD |
10017 | West | 26623353 | 22.08 | Book |
10018 | West | 78594431 | 20.16 | Book |
10019 | West | 91921721 | 17.73 | DVD |
10020 | West | 69868417 | 18.05 | DVD |
se PivotTables to find the number of sales transactions by product and region.
(Type wholenumbers.)
Count of Amount | |||||
East | North | South | West | Grand Total | |
Book | |||||
DVD | enter your response here | enter your response here | enter your response here | enter your response here | enter your response here |
Grand Total | enter your response here | enter your response here | enter your response here | enter your response here | enter your response here |
Part 2
Use PivotTables to find the total amount of revenue by region.
(Type integers or decimals. Do notround.)
East | North | South | West | Grand Total | |
Sum of Amount | enter your response here | enter your response here | enter your response here | enter your response here | enter your response here |
Part 3
Use PivotTables to find the revenue by region and product.
(Type integers or decimals. Do notround.)
Sum of Amount | |||||
East | North | South | West | Grand Total | |
Book | enter your response here | enter your response here | enter your response here | enter your response here | enter your response here |
DVD | enter your response here | enter your response here | enter your response here | enter your response here | enter your response here |
Grand Total | enter your response here | enter your response here | enter your response here | enter your response here | enter your response here |
Question 3.What is a graphical depiction of a frequency distribution for numerical data in the form of a column chartcalled?
Adendogram
B cartogram
C correlogram
D histogram
Question 4.popular resort hotel has
300
rooms and is usually fully booked. About
6%
of the time a reservation is canceled before the6:00 p.m. deadline with no penalty. What is the probability that at least
285
rooms will beoccupied? Use the binomial distribution to find the exact value.
The probability is
enter your response here.
(Round to four decimal places asneeded.)
Question 5.Create a useful dashboard for the data provided. Use appropriate charts and layouts and other visualization tools that help to convey the information. Explain why you chose the elements of the dashboards and how a manager might use them.
LOADING...
Click the icon to view the corporate default database.
Corporate Default Database | |||||||||
Company | Category | Credit Score | Payment Delay in last 3months? | Debt | Equity | Profit/Loss | Amount | Assessment | |
1 | Service | 564 | Yes | 10737914 | 3935938 | Profit | 352366 | Yes | |
2 | Manufacturing | 765 | No | 3099270 | 2216741 | Profit | 287261 | No | |
3 | Manufacturing | 750 | No | 190877 | 1661108 | Profit | 737309 | No | |
4 | Manufacturing | 738 | No | 8289674 | 11851729 | Profit | 3003475 | No | |
5 | Service | 598 | No | 3223538 | 695493 | Loss | 158777 | Yes | |
6 | Manufacturing | 752 | No | 12189831 | 4205978 | Loss | 60529 | Yes | |
7 | Service | 728 | No | 4812577 | 6377922 | Profit | 823886 | No | |
8 | Manufacturing | 743 | No | 7807912 | 6369217 | Profit | 855209 | No | |
9 | Service | 727 | No | 7115796 | 10630597 | Profit | 2804553 | No | |
10 | Service | 632 | No | 13565030 | 4281235 | Loss | 1545874 | Yes | |
11 | Manufacturing | 550 | Yes | 7977112 | 20289273 | Profit | 1840812 | No | |
12 | Manufacturing | 748 | No | 575991 | 29502916 | Profit | 12059066 | No | |
13 | Service | 756 | No | 803360 | 4924018 | Loss | 61235 | No | |
14 | Manufacturing | 600 | No | 1544585 | 294465 | Profit | 33576 | Yes | |
15 | Manufacturing | 708 | Yes | 30042371 | 14661713 | Loss | 370470 | Yes | |
16 | Manufacturing | 736 | No | 5098998 | 4707209 | Profit | 816437 | No | |
17 | Manufacturing | 670 | No | 3708631 | 13049309 | Profit | 5189034 | No | |
18 | Manufacturing | 776 | No | 13355984 | 11422881 | Profit | 1558703 | No | |
19 | Manufacturing | 709 | No | 5005723 | 20489437 | Profit | 1143376 | No | |
20 | Service | 597 | Yes | 2939192 | 499175 | Profit | 79204 | Yes | |
21 | Manufacturing | 773 | No | 7446621 | 4186276 | Profit | 439827 | No | |
22 | Manufacturing | 785 | No | 3728211 | 14413598 | Loss | 1872 | No | |
23 | Service | 616 | No | 3861273 | 5501626 | Loss | 288394 | Yes | |
24 | Manufacturing | 823 | No | 3460265 | 2987199 | Profit | 2748299 | No | |
25 | Manufacturing | 696 | No | 9266841 | 5513059 | Profit | 802115 | No | |
26 | Service | 764 | No | 9951850 | 8485413 | Profit | 6113802 | No | |
27 | Manufacturing | 713 | No | 25896718 | 7132874 | Loss | 46467 | Yes | |
28 | Manufacturing | 713 | No | 9758355 | 7213763 | Profit | 992916 | No | |
29 | Service | 842 | No | 11507962 | 12347391 | Profit | 505531 | No | |
30 | Service | 687 | No | 809455 | 1956796 | Profit | 164082 | No | |
31 | Manufacturing | 586 | No | 5458523 | 830193 | Loss | 134757 | Yes | |
32 | Manufacturing | 747 | No | 7309696 | 6524068 | Profit | 842291 | No |
A.
The selected charts provide important summaries of key business information to help manage thebusiness, and are easy to read and interpret.
B.
The selected charts each use different data in order to make fair comparisons.
C.
The selected charts contain all of the data that was provided.
D.
The selected charts all use different types of graphs.
Question 6.Determine whether the following statement is true or false.
To useVLOOKUP(lookup_value, table_array,col_index_num), the table must be sorted in descending order.
Part 1
A True
B False
Question 7.Which of the following statements about dashboards iscorrect?
A.
A dashboard is a visual representation of a set of key business measures.
B.
A dashboard is derived from the analogy of anautomobile's control panel.
C.
A dashboard provides important summaries of key business information.
D.
All of the above
Question 8.
Question 9. For the Facebook dataprovided, find therange, variance, standarddeviation, and interquartile range for hoursonline/week and number of friends in the sample using the appropriate Excel function. Compare these measures of location.
Student | Gender | Hours online/week | Friends |
1 | female | 4 | 150 |
2 | female | 4 | 50 |
3 | female | 2 | 30 |
4 | male | 4 | 90 |
5 | female | 2 | 30 |
6 | female | 2 | 80 |
7 | female | 5 | 70 |
8 | female | 12 | 380 |
9 | female | 6 | 80 |
10 | male | 6 | 90 |
11 | female | 2 | 50 |
12 | male | 5 | 70 |
13 | male | 4 | 120 |
14 | female | 5 | 60 |
15 | female | 4 | 280 |
16 | male | 6 | 180 |
17 | male | 3 | 200 |
18 | male | 15 | 500 |
19 | female | 12 | 110 |
20 | male | 7 | 120 |
21 | female | 6 | 240 |
The range for the number of hours online per week is
enter your response here.
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 2
The variance for the number of hours online per week is
enter your response here.
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 3
The standard deviation for the number of hours online per week is
enter your response here.
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 4
The interquartile range for the number of hours online per week is
enter your response here.
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 5
The range for the number of friends is
enter your response here.
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 6
The variance for the number of friends is
enter your response here.
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 7
The standard deviation for the number of friends is
enter your response here.
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 8
The interquartile range for the number of friends is
enter your response here.
(Type an integer or decimal rounded to two decimal places asneeded.)
Question 10.The Ransin Sports Company has noted that the size of individual customer orders is normally distributed with a mean of$112 and a standard deviation of$9. If a soccer team of 11 players were to make the next batch oforders, what would be the standard error of themean? Round to two decimal places.
A.
0.82
B.
3.67
C.
1.64
D.
2.71
Question 11.What is thecolor-coding of quantitative data commonlycalled?
AHot& Cold
B Heatmap
C Rainbow
D Scaling
Question 12. Conduct achi-square test using a level of significance of
0.05
to determine if a normal distribution can reasonably model the expense data in the accompanying Travel Expenses data.
Sales Rep | Expenses ($) |
Crawford | 217.91 |
Crawford | 81.08 |
Crawford | 230.01 |
Crawford | 90.16 |
Crawford | 111.87 |
Crawford | 201.24 |
Crawford | 207.66 |
Crawford | 161.03 |
Crawford | 188.93 |
Crawford | 217.75 |
Crawford | 151.41 |
Crawford | 110.95 |
Crawford | 189.39 |
Crawford | 139.19 |
Jones | 93.72 |
Jones | 234.51 |
Jones | 195.68 |
Jones | 149.05 |
Jones | 277.75 |
Jones | 259.02 |
Jones | 200.31 |
Jones | 81.58 |
Jones | 95.54 |
Jones | 155.16 |
Jones | 260.18 |
Jones | 198.44 |
Jones | 168.77 |
Jones | 266.49 |
Smith | 217.66 |
Smith | 172.38 |
Smith | 160.26 |
Smith | 185.44 |
Smith | 127.94 |
Smith | 88.33 |
Smith | 155.44 |
Smith | 114.73 |
Smith | 137.19 |
Rogers | 171.33 |
Rogers | 199.06 |
Rogers | 82.12 |
Rogers | 81.97 |
Rogers | 216.46 |
Rogers | 243.15 |
Rogers | 233.93 |
Rogers | 85.96 |
Rogers | 82.91 |
Rogers | 238.05 |
Rogers | 217.97 |
Rogers | 240.47 |
Rogers | 178.13 |
Rogers | 225.41 |
Rogers | 112.28 |
Write the hypotheses for thechi-square goodness of fit test.
H0:
H1:
the variables are independent
data are not sampled from the normal distribution
data are sampled from the normal distribution
the variables are dependent
Part 2
Create a frequency table.
Bin | Frequency |
0-100 | enter your response here |
101-125 | enter your response here |
126-150 | enter your response here |
151-175 | enter your response here |
176-200 | enter your response here |
201-225 | enter your response here |
226-250 | enter your response here |
251-275 | enter your response here |
276-300 | enter your response here |
(Type wholenumbers.)
Part 3
Compute thechi-square statistic.
enter your response here
(Type an integer or decimal rounded to two decimal places asneeded.)
Part 4
Compute thep-value.
enter your response here
(Type integers or decimals rounded to three decimal places asneeded.)
Part 5
Thep-value is
smaller
larger
than the chosen level ofsignificance,
0.05.
Therefore,
reject
fail to reject
the null hypothesis and conclude that the normal distribution
is
is not
a reasonable model for the data.
Question 13.A telephone call center where people place marketing calls to customers has a probability of success of 0.08.
Find the number of calls needed to ensure that there is a probability of at least
0.91 of obtaining eleven or more successful calls.(Hint: Start by checking the probability of eleven
or more successful calls in 165 calls.)
The number of calls needed to ensure that there is a probability of at least 0.91 of obtaining eleven or more successful calls is
enter your response here.
Question 14.According to Kirby(2021), which of the following is an example of"Data Analytics"?
Select all that apply.
A.
Data cleaning
B.
Fact-based decision-making
C.
Data standards
D.
Clustering
Question 15.Which test is used to determine if two categorical variables areindependent?
A.
ANOVA
B.
Chi-square test
C.
z-test
D.
t-test
Question 16.Create a useful dashboard for the data provided. Use appropriate charts and layouts and other visualization tools that help to convey the information. Explain why you chose the elements of the dashboards and how a manager might use them.
Why are the selected charts useful in adashboard?
Date | Day | Lunch Sales $ | Dinner Sales $ | Delivery Sales $ |
1-Apr | Saturday | 557 | 1419 | 914 |
2-Apr | Sunday | 797 | 1300 | 472 |
4-Apr | Tuesday | 265 | 686 | 353 |
5-Apr | Wednesday | 369 | 844 | 275 |
6-Apr | Thursday | 370 | 732 | 256 |
7-Apr | Friday | 472 | 1257 | 1276 |
8-Apr | Saturday | 423 | 1748 | 841 |
9-Apr | Sunday | 681 | 1266 | 315 |
11-Apr | Tuesday | 318 | 602 | 328 |
12-Apr | Wednesday | 425 | 725 | 324 |
13-Apr | Thursday | 422 | 821 | 247 |
14-Apr | Friday | 489 | 1248 | 1128 |
15-Apr | Saturday | 487 | 1550 | 777 |
16-Apr | Sunday | 749 | 1043 | 309 |
18-Apr | Tuesday | 314 | 585 | 368 |
19-Apr | Wednesday | 394 | 590 | 284 |
20-Apr | Thursday | 377 | 873 | 315 |
21-Apr | Friday | 475 | 1374 | 1329 |
22-Apr | Saturday | 646 | 1704 | 584 |
23-Apr | Sunday | 867 | 1292 | 297 |
25-Apr | Tuesday | 254 | 502 | 385 |
26-Apr | Wednesday | 333 | 661 | 248 |
27-Apr | Thursday | 462 | 914 | 315 |
28-Apr | Friday | 376 | 1465 | 1186 |
29-Apr | Saturday | 631 | 1889 | 553 |
30-Apr | Sunday | 852 | 1288 | 378 |
A.
The selected charts all use different types of graphs.
B.
The selected charts contain all of the data that was provided.
C.
The selected charts each use different data in order to make fair comparisons.
D.
The selected charts provide important summaries of key business information to help manage thebusiness, and are easy to read and interpret.
Question 17.In determining automobile mileageratings, it was found that the mpg in the city for a certain model is normallydistributed, with a mean of 38 mpg and a standard deviation of 1.7 mpg. Suppose that the car manufacturer samples five cars from its assembly line and tests them for mileage ratings.
a. What is the distribution of the mean mpg for thesample?
b. What is the probability that the mean mpg of the sample will be greater than
40 mpg?
c. What is the probability that the mean mpg of the sample will be less than 36.5 mpg?
Part 1
a. What is the distribution of the mean mpg for thesample? Select the correct choice below and fill in the answer boxes to complete your choice.
(Type integers or decimals rounded to two decimal places asneeded.)
A.
The sampling distribution of the mean follows a normal distribution with the sample mean
enter your response here
mpg and the standard deviation of the sample mean
enter your response here
mpg.
B.
The sampling distribution of the mean follows an exponential distribution with the sample mean
enter your response here
mpg and the standard deviation of the sample mean
enter your response here
mpg.
C.
The sampling distribution of the mean follows a uniform distribution with the sample mean
enter your response here
mpg and the standard deviation of the sample mean
enter your response here
mpg.
D.
The sampling distribution of the mean follows a triangular distribution with the sample mean
enter your response here
mpg and the standard deviation of the sample mean
enter your response here
mpg.
Part 2
b. The probability that the mean mpg of the sample will be greater than
40
mpg is
enter your response here.
(Round to four decimal places asneeded.)
Part 3
c. The probability that the mean mpg of the sample will be less than
36.5
mpg is
enter your response here.
(Round to four decimal places asneeded.)
Question 18.
Question 19.
Question 20.
Question 21.
Question 22. Question 23.
Question 24.marketing researcher surveyed 94individuals, asking them if they liked a new product concept or not. The results are shown in the accompanying table. Convert the data into percentages for each gender class. Then construct a chart of the counts and a chart of the percentages. Discuss what each conveys visually and how the different charts may lead to different interpretations of the data.
Yes | No | |
Male | 30 | 46 |
Female | 9 | 9 |
Discuss what each conveys visually and how the different charts may lead to different interpretations of the data.
A.
While both charts show that fewer females liked the product than dislikedit, the first chart may be misleading as it suggests that females either like or dislike the product more thanmales, simply because of the differences in the number of responses. The count chart shows the relative proportions better because they are independent of the response differences.However, the first chart shows the overall"no" preference more clearly due to the smaller number of male responses.
B.
While both charts show that fewer males liked the product than dislikedit, the first chart may be misleading as it suggests that males either like or dislike the product more thanfemales, simply because of the differences in the number of responses. The percentage chart shows the relative proportions better because they are independent of the response differences.However, the first chart shows the overall"no" preference more clearly due to the smaller number of female responses.
C.
While both charts show that fewer females liked the product than dislikedit, the first chart may be misleading as it suggests that females either like or dislike the product more thanmales, simply because of the differences in the number of responses. The percentage chart shows the relative proportions better because they are independent of the response differences.However, the first chart shows the overall"yes" preference more clearly due to the smaller number of male responses.
D.
While both charts show that fewer males liked the product than dislikedit, the first chart may be misleading as it suggests that males either like or dislike the product more thanfemales, simply because of the differences in the number of responses. The count chart shows the relative proportions better because they are independent of the response differences.However, the first chart shows the overall"yes" preference more clearly due to the smaller number of female responses.
Question 25.FiberiaAccessories, a clothingretailer, is planning to introduce a new line of sweaters as part of the winter collection for$65 with an inventory of 1500. The main selling season is 60 days between November and December. The store then sells the remaining units in a clearance sale at 65 percent discount. Out of the 60 main retaildays, Fiberia sells the sweaters at full retail price for only 45days, while giving a discount of 25 percent for the remaining 15 days. The demand functions A and B are given as 79.5 and 1.1 respectively. Calculate the total revenue for the new line ofsweaters, rounded to the nearest cent.
A.
$48,871.88
B.
$43,231.09
C.
$23,400.00
D.
$59,426.25
Question 26.Determine whether the following statement is true or false.
Not specifying a Bin Range will not allow Excel to automatically determine bin values for the frequency distribution and histogram.
True
False
Question 27.Which of the following is true of the equation nz/22(1)E2 for computing the sample size required to achieve a desired confidence intervalhalf-width for aproportion?
A.
The value for is always set at 1.
B.
The most conservative estimate for is 0.5.
C.
The standard deviation need not be calculated first in order to compute the sample size.
D.
The sample size calculated will only be an approximation.
Question 28. In order to reject the nullhypothesis, the F-test statistic must be greater than whatvalue?
A.df
B.variance
C.F crit
D.p-value
Question 29.Which of the following formulas will compute the variance of a discrete random variableX?
A.Summation from j equals 1 to n Upper E left bracket Upper X right bracket squared f left parenthesis x Subscript j Baseline right parenthesis
j=1nE[X]2fxj
B.Summation from j equals 1 to infinity x Subscript j Superscript 2 Baseline f left parenthesis x Subscript j Baseline right parenthesis
j=1x2jfxj
C.Summation from j equals 1 to n left parenthesis x Subscript j Baseline minus Upper E left bracket Upper X right bracket right parenthesis squared
j=1nxjE[X]2
D.Summation from j equals 1 to n left parenthesis x Subscript j Baseline minus Upper E left bracket Upper X right bracket right parenthesis squared f left parenthesis x Subscript j Baseline right parenthesis
Question 30.Which group can the sort buttons in Excel be foundunder?
A.the Home tab in the Styles group
B.the Insert tab in the Sort group
C.the Sort tab in the Filter group
D.the Data tab in the Sort& Filter group
Question 31. Which of the following is a difference between interval estimates and pointestimates?
A.Point estimates provide only a single value for asample, while interval estimates provide a range of values.
B.Point estimates cannot be used to calculate statisticalerror, while interval estimate is used to calculate statistical error.
C.Point estimates indicate the magnitude of potential error in theestimate, while interval estimatesdon't.
D.Point estimates on an average provide more information than interval estimates.
Question 32.15 students were asked to choose between the broad categories ofArts, Science, and Math as their preferred area of study. What is the probability that a respondent prefers Science given that the respondent isfemale?
Respondent | Gender | Preference |
1 | Female | Arts |
2 | Male | Science |
3 | Male | Math |
4 | Female | Arts |
5 | Female | Math |
6 | Male | Science |
7 | Male | Math |
8 | Male | Math |
9 | Female | Arts |
10 | Male | Arts |
11 | Male | Science |
12 | Female | Science |
13 | Female | Math |
14 | Male | Arts |
15 | Female | Arts |
...
A.four sevenths47
B.seven fifteenths715
C.one seventh17
D.one fifteenth115
Question 33.
Question 34. The accompanying spreadsheet is a spreadsheet of purchase orders for a computer hardware retailer. Which of the following Database functions calculates the total cost charged to Rex Technologies for large sizeorders?
A | B | C | D | E | F | G | H | |
1 | Purchase Orders | |||||||
2 | ||||||||
3 | Supplier | Item Description | Item Cost | Quantity | Cost per Order | A/P Terms(Months) | Order No. | Order Size |
4 | Rex Technologies | Graphics Card | $ 89 | 35 | $3115 | 20 | AL123 | Large |
5 | Rex Technologies | Monitor | $150 | 15 | $2250 | 25 | AL234 | Small |
6 | Rex Technologies | Keyboard | $ 15 | 40 | $600 | 15 | AL345 | Large |
7 | Rex Technologies | Speakers | $ 15 | 20 | $300 | 25 | AL456 | Small |
8 | Max's Wavetech | HD Cables | $ 5 | 10 | $50 | 25 | KO876 | Small |
9 | Max's Wavetech | Processor | $278 | 27 | $6950 | 30 | KO765 | Large |
10 | Max's Wavetech | Hard disk | $120 | 18 | $2160 | 20 | KO654 | Small |
11 | ||||||||
12 | Supplier | Order Size | ||||||
13 | ="=Rex Technologies" | ="=Large" |
.
A=DSUM(A3:H10,C3,A12:B13)
B.= DSUM(A4:H10,'Cost perOrder',A12:B13)
C.= DSUM(A3:H10,E3,A12:B13)
D.= DSUM(A3:H10,C3,A12:B14)
Question 34.What proposition describes an existing theory orbelief?
A proportion
B null hypothesis
C standard deviation
D alternative hypothesis
Question 35.What proposition describes an existing theory orbelief?
proportion
null hypothesis
standard deviation
alternative hypothesis
Question 36.When using the MATCHfunction, when must the values inlookup_array be ordered in a descendingorder?
A.When match_type=0
B.When match_type=1
C.When match_type>1
D.When match_type=1
Question 37.The historical data of VelvettaInc., a healthcare productsmanufacturer, have shown that in a production process for filling bottles ofshampoo, variance in the volume isconstant; however, clogs in the filling machine often affect the mean volume. The historical standard deviation is 5 milliliters. In filling250-milliliter bottles, a sample of 20 found a mean volume of 242 milliliters. From thetable, determine the cumulative probability for z at a95% confidence level. Round to three decimal places.
Velvetta Inc. Shampoo Production | |
Alpha Value | 0.05 |
Standard Deviation | 5 |
Sample Size | 20 |
Sample Mean | 242 |
A.0.975
B.0.950
C.0.987
D.1.000
Question 38.Which of the following is true about the classical definition ofprobability?
A.The probability that an outcome will occur is simply the relative frequency associated with that outcome.
B.If the process that generates the outcomes isknown, probabilities can be deduced from theoretical arguments.
C.It is based on judgment and experience.
D.It is based on observed data.
Question 39.
Determine whether the following statement is true or false.
Win/Loss Sparklines can only be used on quantitative data.
True
False
Question 40.Which of the following is true of the binomialdistribution?
A.InExcel's binomial distributionfunction, setting cumulative to TRUE will provide the probability mass function for a specified value.
B.The expected value of the binomial distribution is
np(1p),
where n is the number of experiments and p is the probability of success.
C.The binomial distribution can assume different shapes and amounts ofskewness, depending on the parameters.
D.The expected value of the binomial distribution is, a constant.
Question 41.The accompanying data is an extract from the Cost per Order Database of Grogtes LLC. Which of the following observations is closest to the thirdquartile?
tem Category | Item ID | Item Cost | Units | Cost per Order |
Nuts | N101 | $ 2.44 | 94 | $ 229.36 |
Screws | S101 | $ 20.44 | 49 | $ 1,001.56 |
Nuts | N102 | $ 5.44 | 35 | $ 190.40 |
Screwdriver | SD101 | $ 20.44 | 26 | $ 531.44 |
Nuts | N102 | $ 3.44 | 55 | $ 189.20 |
Screws | S102 | $ 5.44 | 59 | $ 320.96 |
Nuts | N101 | $ 2.44 | 74 | $ 180.56 |
Nuts | N102 | $ 5.44 | 89 | $ 484.16 |
Nuts | N101 | $ 2.44 | 31 | $ 75.64 |
Screws | S103 | $ 9.44 | 59 | $ 556.96 |
Nuts | N102 | $ 5.44 | 89 | $ 484.16 |
Screws | S101 | $ 2.44 | 28 | $ 68.32 |
Screws | S101 | $ 20.44 | 80 | $ 1,635.20 |
Nuts | N102 | $ 5.44 | 34 | $ 184.96 |
Nails | NG101 | $ 125.45 | 1 | $ 125.45 |
Bolts | B101 | $ 16.44 | 15 | $ 246.60 |
Screws | S103 | $ 9.44 | 27 | $ 254.88 |
Screwdriver | SD102 | $ 9.44 | 63 | $ 594.72 |
Screwdriver | SD101 | $ 20.44 | 14 | $ 286.16 |
Bolts | B102 | $ 5.44 | 95 | $ 516.80 |
Nuts | N103 | $ 1.74 | 66 | $ 114.84 |
Bolts | B101 | $ 16.44 | 73 | $ 1,200.12 |
Screws | S103 | $ 9.44 | 45 | $ 424.80 |
Screws | S104 | $ 15.45 | 86 | $ 1,328.70 |
Screws | S102 | $ 5.44 | 3 | $ 16.32 |
Screws | S101 | $ 20.44 | 6 | $ 122.64 |
Bolts | B102 | $ 5.44 | 49 | $ 266.56 |
Nuts | N101 | $ 2.44 | 65 | $ 158.60 |
Screwdriver | SD103 | $ 5.44 | 95 | $ 516.80 |
Nuts | N103 | $ 1.74 | 52 | $ 90.48 |
Screws | S103 | $ 9.44 | 79 | $ 745.76 |
Nailgun pack | NG101 | $ 125.45 | 4 | $ 501.80 |
Bolts | B102 | $ 5.44 | 61 | $ 331.84 |
Bolts | B103 | $ 12.94 | 54 | $ 698.76 |
Bolts | B104 | $ 24.40 | 41 | $ 1,000.40 |
Nails | NG102 | $ 275.45 | 2 | $ 550.90 |
Nuts | N103 | $ 1.74 | 6 | $ 10.44 |
Screwdriver | SD104 | $ 2.44 | 75 | $ 183.00 |
Screws | S101 | $ 20.44 | 56 | $ 1,144.64 |
Nuts | N103 | $ 1.74 | 13 | $ 22.62 |
Screws | S102 | $ 5.44 | 10 | $ 54.40 |
Screws | S101 | $ 20.44 | 93 | $ 1,900.92 |
Screws | S102 | $ 5.44 | 27 | $ 146.88 |
A.13 N103 nuts for$22.62
B.35 N102 nuts for$190.40
C.59 S103 screws for$556.96
D.2 NG102 nailgun packs for$550.90
Question 42. Which of the following types of sampling involves using random procedures to select asample?
judgment sampling
subjective sampling
convenience sampling
probabilistic sampling
Question 43.
Question 44.Which of the following is not a challenge faced by organizations that want to develop analyticscapabilities?
A.profitability and customer satisfaction
B.difficulty in getting good data and sharing information
C.a lack of understanding of how to use analytics
D.competing business priorities
Question 45.Which situation is a Type Ierror?
A.The null hypothesis is actuallytrue, but the hypothesis test incorrectly rejects it.
B.The null hypothesis is actuallyfalse, and the test correctly rejects it.
C.The null hypothesis is actuallyfalse, but the test incorrectly fails to reject it.
D.The null hypothesis is actuallytrue, and the hypothesis test correctly fails to reject it.
Question 46.
Question 47.
Question 48.Observations consisting of pairs of variable data are required to construct which type ofchart?
Doughnut chart
Scatter chart
Radar chart
Line chart
Question 49.A trader who wants to predictshort-term movements in stock prices is likely to use which type ofanalytics?
predictive
normative
prescriptive
descriptive
Question 50.The manager at Soul WalkInc., a shoe manufacturingcompany, wants to set a new price(P) for a shoe model to maximize total profit. The demand(D) as a function of price is represented as
D=1,5002.5P.
The total cost(C) as a function of demand is represented as
C=3,200+3.5D.
Which of the following is a model for total profit as a function ofprice?
A.(1,250price)+(5price2)8,320
B.(1,508.75price)(2.5price2)8,450
C.(3.5price2)+3,200(1925.50price)
D.[4521+(4.5price)]price9684.25