Business Ethics

Q: A chi-square goodness-of-fit test is being used to test the goodness-of-fit of a uniform distribution for a dataset with "k" categories. This test has (k-3) degrees of freedom.

Q: The number of degrees of freedom in a chi-square goodness-of-fit test is the number of categories minus the number of parameters estimated minus one.

Q: The number of degrees of freedom in a chi-square goodness-of-fit test is the number of categories minus the number of parameters estimated.

Q: In a chi-square goodness-of-fit test, actual frequencies are also called calculated frequencies.

Q: In a chi-square goodness-of-fit test, theoretical frequencies are also called expected frequencies.

Q: A gasoline distributor wonders whether an individual's income level influences the grade of gasoline purchased. The following is a contingency table from a random sample of 300 individuals. Personal Type of Gasoline Income Regular Premium Extra Premium Less than $50,000 90 10 20 $50,000 or More 60 60 60 The estimate of the expected number of individuals with income less than $30,000 who purchase regular gasoline when income and type of gasoline are independent is _______. a) 60 b) 90 c) 120 d )80 e) 100

Q: A gasoline distributor wonders whether an individual's income level influences the grade of gasoline purchased. The following is a contingency table from a random sample of 300 individuals. Personal Type of Gasoline Income Regular Premium Extra Premium Less than $50,000 80 30 30 $50,000 or More 70 40 50 Using a= .05, appropriate decision is ______________. a) reject the null hypothesis and conclude the two variables are not independent b) reject the null hypothesis and conclude the two variables are independent c) do not reject the null hypothesis and conclude the two variables are not independent d) do not reject the null hypothesis and conclude the two variables are independent e) do nothing

Q: A gasoline distributor wonders whether an individual's income level influences the grade of gasoline purchased. The following is a contingency table from a random sample of 300 individuals. Personal Type of Gasoline Income Regular Premium Extra Premium Less than $50,000 90 10 20 $50,000 or More 60 60 60 The null hypothesis is ______________. a) "income" is independent of "type of gasoline" b) "income" influences "type of gasoline" c) "income" is not independent of "type of gasoline" d) "income" is related to "type of gasoline" e) "regular" is independent of "premium"

Q: Anita Cruz recently assumed responsibility for a large investment portfolio. She wonders whether industry sector influences investment objective. Her staff prepared the following contingency table from a random sample of 200 common stocks. Investment Industry Sector Objective Electronics Airlines Healthcare Growth 100 10 40 Income 20 20 10 Using a= .01, appropriate decision is ______________. a) reject the null hypothesis and conclude the two variables are not independent b) reject the null hypothesis and conclude the two variables are independent c) do not reject the null hypothesis and conclude the two variables are not independent d) do not reject the null hypothesis and conclude the two variables are independent e) do nothing

Q: Anita Cruz recently assumed responsibility for a large investment portfolio. She wonders whether industry sector influences investment objective. Her staff prepared the following contingency table from a random sample of 200 common stocks. Investment Industry Sector Objective Electronics Airlines Healthcare Growth 100 10 40 Income 20 20 10 Anita's null hypothesis is ______________. a) "investment objective" is related to "industry sector" b) "investment objective" influences "industry sector" c) "investment objective" is not independent of "industry sector" d) "investment objective" is independent of "industry sector" e) "growth" and "income" are independent

Q: Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of alternative toothpaste packages. She wonders whether acceptance is influenced by children in the household. Her staff prepared the following contingency table from a random sample of 100 households. Children in Household Pre-teenagers teenagers none Preferred Package Pump 30 20 10 Tube 10 10 20 Using a= .05, the appropriate decision is ______________. a) reject the null hypothesis and conclude the two variables are not independent b) do not reject the null hypothesis and conclude the two variables are not independent c) reject the null hypothesis and conclude the two variables are independent d) do not reject the null hypothesis and conclude the two variables are independent e) do nothing

Q: Catherine Chao, Director of Marketing Research, is evaluating consumer acceptance of alternative toothpaste packages. She wonders whether acceptance is influenced by children in the household. Her staff prepared the following contingency table from a random sample of 100 households. Children in Household Pre-teenagers teenagers none Preferred Package Pump 30 20 10 Tube 10 10 20 Catherine's null hypothesis is ______________. a) "children in household" is not independent of "preferred package" b) "children in household" is independent of "preferred package" c) "children in household" is related to "preferred package" d) "children in household" influences "preferred package" e) "pump" is independent of "tube"

Q: Sam Hill, Director of Media Research, is analyzing subscribers to the TravelWorldmagazine. He wonders whether subscriptions are influenced by the head of household's highest degree earned. His staff prepared the following contingency table from a random sample of 300 households. Head of Household Classification Associate Bachelor Master/ PhD Subscribers Yes 10 90 60 No 60 60 20 Using a= .05, the appropriate decision is ______________. a) reject the null hypothesis and conclude the two variables are independent b) do not reject the null hypothesis and conclude the two variables are independent c) reject the null hypothesis and conclude the two variables are not independent d) do not reject the null hypothesis and conclude the two variables are not independent e) do nothing

Q: Sam Hill, Director of Media Research, is analyzing subscribers to the TravelWorldmagazine. He wonders whether subscriptions are influenced by the head of household's highest degree earned. His staff prepared the following contingency table from a random sample of 300 households. Head of Household Classification Associate Bachelor Master/ PhD Subscribers Yes 10 90 60 No 60 60 20 Sam's null hypothesis is ______________. a) "head of household classification" is related to "subscribes" b) "head of household classification" is not independent of "subscribes" c) "head of household classification" is independent of "subscribes" d) "head of household classification" influences "subscribes" e) "clerical is not related to managerial"

Q: Use the following set of observed frequencies to test the independence of the two variables. Variable one has values of 'A' and 'B'; variable two has values of 'C', 'D', and 'E'. C D E A 12 10 8 B 20 24 26 Using a= 0.05, the estimates of the expected frequency in row 1 (A) column 1 (C) when the two variables are independent is _______. a) 9.6 b) 12 c) 16 d) 10 e) 20

Q: Use the following set of observed frequencies to test the independence of the two variables. Variable one has values of 'A' and 'B'; variable two has values of 'C', 'D', and 'E'. C D E A 12 10 8 B 20 24 26 Using a= 0.05, the observed chi-square value is _______. a) 0 b) 0.69 c) 1.54 d) 21.28 e) 8.29

Q: Use the following set of observed frequencies to test the independence of the two variables. Variable one has values of 'A' and 'B'; variable two has values of 'C', 'D', and 'E'. C D E A 12 10 8 B 20 24 26 Using a= 0.05, the critical chi-square value is _______. a) 9.488 b) 1.386 c) 8.991 d) 3.357 e) 5.991

Q: Contingency tables should not be used with expected cell frequencies _______. a) less than the number of rows b) less than the number of columns c) less than 5 d) less than 30 e) less than 50

Q: A market researcher believes that industry type is independent of the operating margin. He compiles a table with seven industry classifications and classifies operating margin into five levels. When applying a chi-square test of independence to this table, the number of degrees of freedom is _____. a) 24 b) 35 c) 12 d) 10 e) 11

Q: A travel agent believes that vacation destinations are independent of the region of the country that the vacationer resides. She has compiled a table with six vacation destinations and five regions throughout the United States. When applying a chi-square test of independence to this table, the number of degrees of freedom is _____. a) 9 b) 20 c) 30 d) 11 e) 12

Q: A contingency table is to be used to test for independence. There are 3 rows and 3 columns in the table. How many degrees of freedom are there for this problem? a) 6 b) 5 c) 4 d) 3 e) 1

Q: A test of independence is to be performed. The contingency table has 4 rows and 5 columns. What would the degrees of freedom be? a) 20 b) 9 c) 7 d) 12 e) 19

Q: A cancer research group surveys 100 women more than 40 years old to test the hypothesis that 50% of women in this age group have regularly scheduled mammograms. Forty of the women respond affirmatively. Using a= 0.05, the appropriate decision is ________.a) do not reject the null hypothesisp 0.50b) reject the null hypothesisp = 0.50c) reject the null hypothesis p < 0.50d) p < 0.50e) do nothing

Q: A cancer research group surveys 100 women more than 40 years old to test the hypothesis that 50% of women in this age group have regularly scheduled mammograms. Forty of the women respond affirmatively. Using a= 0.05, the observed value of chi-square is __________.a) 4.00b) 2.00c) 0.5d) 3.71e) 2.97

Q: A cancer research group surveys 100 women more than 40 years old to test the hypothesis that 50% of women in this age group have regularly scheduled mammograms. Forty of the women respond affirmatively. Using a= 0.05, the critical value of chi-square is _______.a) 7.38b) 5.02c) 3.84d) 5.99e) 6.99

Q: A cancer research group surveys 100 women more than 40 years old to test the hypothesis that 50% of women in this age group have regularly scheduled mammograms. Forty of the women respond affirmatively. Using a= 0.05, the alternative hypothesis is __________.a) p < 0.50b) p 0.50c) p > 0.50d) p =0.50e) p 0.40

Q: A cancer research group surveys 100 women more than 40 years old to test the hypothesis that 50% of women in this age group have regularly scheduled mammograms. Forty of the women respond affirmatively. Using a= 0.05, the null hypothesis is __________.a) m> 80b) m 80c) p > 0.50d) p =0.50e) s 0.80

Q: Ophelia O'Brien, VP of Consumer Credit of American First Banks (AFB), monitors the default rate on personal loans at the AFB member banks. One of her standards is "no more than 5% of personal loans should be in default." On each Friday, the default rate is calculated for a sample of 500 personal loans. Last Friday's sample contained 30 defaulted loans. Using a= 0.01, the appropriate decision is _______. a) reject the null hypothesis p > 0.05 b) do not reject the null hypothesisp = 0.05 c) reject the null hypothesis m> 30 d) do not reject the null hypothesis m 30 e) do nothing

Q: Ophelia O'Brien, VP of Consumer Credit of American First Banks (AFB), monitors the default rate on personal loans at the AFB member banks. One of her standards is "no more than 5% of personal loans should be in default." On each Friday, the default rate is calculated for a sample of 500 personal loans. Last Friday's sample contained 30 defaulted loans. Using a= 0.01, observed chi-square value is _______. a) 13.38 b) 26.29 c) 2.09 d) 1.05 e) 3.98

Q: Ophelia O'Brien, VP of Consumer Credit of American First Banks (AFB), monitors the default rate on personal loans at the AFB member banks. One of her standards is "no more than 5% of personal loans should be in default." On each Friday, the default rate is calculated for a sample of 500 personal loans. Last Friday's sample contained 30 defaulted loans. Using a= 0.01, critical chi-square value is _______. a) 6.63 b) 9.21 c) 7.88 d) 10.60 e) 12.34

Q: Ophelia O'Brien, VP of Consumer Credit of American First Banks (AFB), monitors the default rate on personal loans at the AFB member banks. One of her standards is: "no more than 5% of personal loans should be in default." On each Friday, the default rate is calculated for a sample of 500 personal loans. Last Friday's sample contained 30 defaulted loans. Ophelia's null hypothesis is _______. a) p > 0.05 b) p =0.05 c) m 30 d) m> 30 e) s> 30

Q: Sami Schmitt believes that number of cars arriving at his Scrub and Shine Car Wash follow a Poisson distribution. He collected a random sample and constructed the following frequency distribution to test his hypothesis. Cars per 15 minute interval 0 1 2 3 4 >5 Observed Frequency 5 15 17 12 10 8 Using a= 0.05, the appropriate decision for this goodness-of-fit test is ____. a) reject the null hypothesis that the observed distribution is Poisson b) reject the null hypothesis that the observed distribution is not Poisson c) do not reject the null hypothesis that the observed distribution is not Poisson d) do not reject the null hypothesis that the observed distribution is Poisson e) do nothing

Q: A researcher believes that a variable is Poisson distributed across six categories. To test this, the following random sample of observations is collected: Category 0 1 2 3 4 >5 Observed 7 18 25 17 12 5 Using a= 0.10, the value of the observed chi-square for the data is _______. a) 19.37 b) 2.29 c) 1.74 d) 3.28 e) 4.48

Q: A researcher believes that a variable is Poisson distributed across six categories. To test this, the following random sample of observations is collected: Category 0 1 2 3 4 >5 Observed 7 18 25 17 12 5 Using a= 0.10, the critical value of chi-square for the data is _______. a) 9.236 b) 7.779 b) 1.064 c) 13.277 d) 12.89

Q: A researcher believes that arrivals at a walk-in hair salon are Poisson distributed. The following data represent a distribution of frequency of arrivals in a one hour time period. Number of Customer Arrivals 0 1 2 3 4 5 Frequency 47 56 39 22 18 10 Using a= 0.10, the observed chi-square value for this goodness-of-fit test is ____. a) 2.28 b) 14.56 c) 17.43 d) 1.68 e) 2.67

Q: A researcher believes that arrivals at a walk-in hair salon are Poisson distributed. The following data represent a distribution of frequency of arrivals in a one hour time period. Number of Customer Arrivals 0 1 2 3 4 5 Frequency 47 56 39 22 18 10 Using a= 0.10, the critical chi-square value for this goodness-of-fit test is _______. a) 1.064 b) 13.277 c) 9.236 d) 8.799 e) 7.779

Q: A chi-square goodness of fit test is to be performed to see if data fit the Poisson distribution. There are 8 categories, and lambda must be estimated. Alpha is chosen to be 0.10. The critical (table) value of chi-square is _______. a) 10.645 b) 12.017 c) 3.828 d) 16.812 e) 17.345

Q: A chi-square goodness of fit test is to be performed to see if data fit the Poisson distribution. There are 8 categories, and lambda must be estimated. How many degrees of freedom should be used? a) 8 b) 7 c) 6 d) 5 e) 4

Q: A chi-square goodness of fit test is to be performed to see if data fit the Poisson distribution. There are 6 categories, and lambda must be estimated. How many degrees of freedom should be used? a) 6 b) 5 c) 4 d) 3 e) 2

Q: A market researcher is studying the use of coupons by consumers of varying ages. She classifies consumers into four age categories and counts the number of grocery store customers who use at least one coupon during check out. It is expected that data are uniformly distributed across the four age categories. The observed data results in frequencies of 22, 35, 32, and 21. Using a= .10, the appropriate decision is _______. a) do not reject the null hypothesis that the observed distribution is uniform b) do not reject the null hypothesis that the observed distribution is not uniform c) reject the null hypothesis that the observed distribution is uniform d) reject the null hypothesis that the observed distribution is not uniform e) do nothing

Q: A market researcher is studying the use of coupons by consumers of varying ages. She classifies consumers into four age categories and counts the number of grocery store customers who use at least one coupon during check out. It is expected that data are uniformly distributed across the four age categories. The observed data results in frequencies of 22, 35, 32, and 21. Using a= .05, the appropriate decision is _______. a) do not reject the null hypothesis that the observed distribution is uniform b) do not reject the null hypothesis that the observed distribution is not uniform c) reject the null hypothesis that the observed distribution is uniform d) reject the null hypothesis that the observed distribution is not uniform e) do nothing

Q: A suburban realtor is studying commuter time in the Houston metropolitan area. She has been told the average weekday travel time from a southern suburb at 8:00am is 45 minutes. For five months she counts the number of days that it takes her more than 45 minutes to arrive in downtown when she leaves her house at 8:00am. She expects the data are uniformly distributed across the five months. Her sample of observed data yields the following frequencies 9 days, 15 days, 8 days, 11 days, 12 days. Using a= .10, the appropriate decision is _______. a) do not reject the null hypothesis that the observed distribution is uniform b) do not reject the null hypothesis that the observed distribution is not uniform c) reject the null hypothesis that the observed distribution is uniform d) reject the null hypothesis that the observed distribution is not uniform e) do nothing

Q: A suburban realtor is studying commuter time in the Houston metropolitan area. She has been told the average weekday travel time from a southern suburb at 8:00am is 45 minutes. For five months she counts the number of days that it takes her more than 45 minutes to arrive in downtown when she leaves her house at 8:00am. She expects the data are uniformly distributed across the five months. Her sample of observed data yields the following frequencies 9 days, 15 days, 8 days, 11 days, 12 days. Using a= .01, the appropriate decision is _______. a) do not reject the null hypothesis that the observed distribution is uniform b) do not reject the null hypothesis that the observed distribution is not uniform c) reject the null hypothesis that the observed distribution is uniform d) reject the null hypothesis that the observed distribution is not uniform e) do nothing

Q: A variable contains five categories. It is expected that data are uniformly distributed across these five categories. To test this, a sample of observed data is gathered on this variable resulting in frequencies of 27, 30, 29, 21, and 24. Using a= .01, the appropriate decision is _______. a) reject the null hypothesis that the observed distribution is uniform b) reject the null hypothesis that the observed distribution is not uniform c) do not reject the null hypothesis that the observed distribution is uniform d) do not reject the null hypothesis that the observed distribution is not uniform e) do nothing

Q: A goodness of fit test is to be performed to see if Web Surfers prefer any of four Web sites (A, B, C and D) more than the other three. A sample of 60 consumers is used. What is the expected frequency for Web site A? a) 1/4 b) 20 c) 15 d) 10 e) 30

Q: A goodness of fit test is to be performed to see if consumers prefer any of three package designs (A, B, and C) more than the other two. A sample of 60 consumers is used. What is the expected frequency for category A? a) 1/3 b) 20 c) 60 d) 10 e) 30

Q: The following graph of time-series data suggests a _______________ trend.a)quadraticb) cosinec) lineard) tangentiale) flat

Q: A weighted aggregate price index where the weight for each item is computed by using the quantities of the year of interest is known as the a.Paasche Index b. Simple Index c. Laspeyres Index d. Consumer Price index e. Producer Price index

Q: A weighted aggregate price index where the weight for each item is computed by using the quantities of the base period is known as the a.Paasche Index b. Simple Index c. Laspeyres Index d. Consumer Price index e. Producer Price index

Q: Using 2011 as the base year, the 2010 value of the Paasche' Price Index is ______. Year 2010 2011 2012 Price Quantity Price Quantity Price Quantity Wheat ('s/bushel) 370 100 372 110 255 120 Sugar ('s/pound) 13 50 12 40 12 30 Lard ('s/pound) 14 70 13 60 13 40 a) 99.79 b) 192.51 c) 100.29 d) 59.19 e) 39.99

Q: Using 2011 as the base year, the 2010 value of the Laspeyres Price Index is ______. Year 2010 2011 2012 Price Quantity Price Quantity Price Quantity Wheat ('s/bushel) 370 100 372 110 255 120 Sugar ('s/pound) 13 50 12 40 12 30 Lard ('s/pound) 14 70 13 60 13 40 a) 69.92 b) 144.06 c) 100.21 d) 79.72 e) 99.72

Q: Using 2000 as the base year, the 1990 value of the Paasche' Price Index is ______. (Quantities are averages for the student body.) Year 1990 2000 2010 Price Quantity Price Quantity Price Quantity Tuition ($/3 hrs) 81 15.00 164 13.00 200 12.00 Books ($ each) 32 1.00 43 1.50 85 2.00 Calculator ($ each) 45 0.50 27 0.75 25 1.00 a) 80.72 b) 162.28 c) 240.06 d) 50.45 e) 30.35

Q: Using 2010 as the base year, the 2012 value of a simple price index for the following price data is _____________. Year 2008 2009 2010 2011 2012 2013 Price 29.88 32.69 42.04 46.18 47.98 48.32 a) 77.60 b) 114.13 c) 160.58 d) 99.30 e) 100.00

Q: When constructing a weighted aggregate price index, the weights usually are _____. a) prices of substitute items b) prices of complementary items c) quantities of the respective items d) squared quantities of the respective items e) quality of individual items

Q: Weighted aggregate price indexes are also known as _______. a) unbalanced indexes b) balanced indexes c) value indexes d) multiplicative indexes e) overall indexes

Q: Typically, the denominator used to calculate an index number is a measurement for the ____________ period. a) base b) current c) spanning d) intermediate e) peak

Q: Index numbers facilitate comparison of ____________. a) means b) data over time c) variances d) samples e) deviations

Q: Often, index numbers are expressed as ____________. a) percentages b) frequencies c) cycles d) regression coefficients e) correlation coefficients

Q: The motivation for using an index number is to ________________. a) transform the data to a standard normal distribution b) transform the data for a linear model c) eliminate bias from the sample d) reduce data to an easier-to-use, more convenient form e) reduce the variance in the data

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