QUESTION 1

1. In multiple regression there is more than one independent variable.

   True

   False

1 points

QUESTION 2

1. In multiple regression there is more than one dependent variable.

   True

   False

1 points

QUESTION 3

1. In multiple regression multicolinearity is a potential problem.

   True

   False

1 points

QUESTION 4

1. In multiple regression the value of R square increases when adding another independent variable.

   True

   False

1 points

QUESTION 5

1. When the confidence coefficient is .75, alpha is

1 points

QUESTION 6

1. A 2009 sample of New York hotel room prices had an average of $273. Assume this was from a sample of 48 hotels. Assume also that theknown standard deviationfor the room rates is $72. Construct a 99% confidence interval and report the lower bound for the interval. (Answer to one decimal place anddo notinclude a $ sign).

1 points

QUESTION 7

1. A 2009 sample of New York hotel room prices had an average of $273. Assume this was from a sample of 48 hotels. Assume that theknown standard deviationis $72. Construct a 99% confidence interval and report the upper bound for the interval. Your number should be larger than for the previous problem. (Answer to one decimal place anddo notinclude a $ sign).

1 points

QUESTION 8

1. If there are 39 observations then how many degrees of freedom are there for the t distribution (for a sample mean)?

1 points

QUESTION 9

1. Given a specified level of significance the absolute value of the critical value will be smaller for a one-tailed test than for a two-tailed test.

   True

   False

1 points

QUESTION 10

1. The p-value is

   1 minus the power of a test.

   the exact or observed level of significance.

   the probability of a Type II error.

   the same as the critical value.

1 points

QUESTION 11

1. Customers service representatives attempt to sell new products to certain customers when they call in. In order for the "cross sell" to be profitable service representatives need to get more than 10% of customers to buy the new product. In a sample of one team of service representatives they offered the new product to 500 customers and 67 made the purchase. Management wants proof at the .01 level of significance that the team sells to more than 10% of customers. Note that the null hypothesis is that the population proportion<=.1. What is the test statistic? Answer to three decimal places.

1 points

QUESTION 12

1. A Type I error is when we fail to reject the null hypothesis even though it is false.

   True

   False

1 points

QUESTION 13

1. Consider the ANOVA table here. What is MSTR? Answer to two decimal places.

1 points

QUESTION 14

1. Consider the ANOVA table here. What is the p-value? Answer to three decimal places.

1 points

QUESTION 15

1. Below is a table constructed using a subset of data from an ECN221 class. What is the probability that an observation in this data set is from an accountancy major? Answer to 3 decimal places.

1 points

QUESTION 16

1. Below is a table constructed using a subset of data from an ECN221 class. What is the probability that an observation in this data set is from an "Other: business" major? Answer to 3 decimal places.

2 points

QUESTION 17

1. The probability of a getting a new sales contract with any given client is .24. A sales representative works with 14 clients this week. What is the expected number of contracts the sales representative will get this week? (Answer to the second decimal place.)

2 points

QUESTION 18

1. A telemarketer will make 25 calls in one hour. The probability of making a sale on any given call is .09. What is the probability that he will make at least one sale during the hour? (Answer to the third decimal place.)

2 points

QUESTION 19

1. The vice president of the fraud department has 21 employees that report to her. During a holiday period she must make work assignments to ensure that someone is on call each day. There are five days that she must cover and she will assign no one to more than one day. How many different combinations of workers assigned for the holiday week are possible?

2 points

QUESTION 20

1. Using the Poisson PMF, when the mean is 6, what is P(X=9)? (Answer to the third decimal place).

2 points

QUESTION 21

1. An Italian restaurant advertises that carryout orders take about 24 minutes. Assume that the time it takes for an order to be ready follows the exponential distribution with a mean of 24. What is the probability that an order will be ready within 18 minutes? Answer to three decimal places if needed.

2 points

QUESTION 22

1. For the normal distribution the mean and variance are

   the same.

   unrelated.

   related by the square root function.

   related by the normal pdf.

2 points

QUESTION 23

1. Suppose that the auto loans from a bank are normally distributed with a mean of $23,334 and a standard deviation of 3,412. What is the probability that a randomly selected loan will be for more than $23,334? Answer to three decimal places if necessary.

2 points

QUESTION 24

1. Suppose that the weight of cereal in a box is normally distributed around a mean of 20, measured in ounces, with a standard deviation of 0.19. What is the z value for a box with 20.03 ounces of cereal?Answer to three decimal places if needed.

2 points