QNT 275 WEEK 1--5 ( NEW Original ) Flashcards

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1

QNT 275 WEEK 1 Statistics in Business ( NEW Original )

QNT 275 WEEK 1 Statistics in Business ( NEW Original )

QNT 275 WEEK 1 Statistics in Business ( NEW )

QNT 275 WEEK 1 Statistics in Business ( NEW )

2

QNT 275 WEEK 2 Activity Data Set (NEW Original)

QNT 275 WEEK 2 Activity Data Set (NEW Original)

QNT 275 WEEK 2 Activity Data Set (NEW)QNT 275 WEEK 2 Activity Data Set (NEW)QNT 275 WEEK 2 Activity Data Set

3

QNT 275 WEEK 2 QUIZ (NEW ORIGINAL)

QNT 275 WEEK 2 QUIZ (NEW ORIGINAL)

QNT 275 WEEK 2 QUIZ (NEW ORIGINAL)

A stem-and-leaf diagram is constructed by separating each value of a data set into two parts. What are these parts?

Stem consisting of the last digit and leaf consisting of the leftmost digits

Stem consisting of the second digit and leaf consisting of the last digit

Stem consisting of the leftmost digits and leaf consisting of the second digit

Stem consisting of the leftmost digits and leaf consisting of the last digit

ABC Plumbing wants to understand its customers’ perceptions of the quality of the company’s plumbing service calls. They plan to survey a sample of its customer base. What will ABC need to do to ensure that their data is valid and reliable?

The survey must include items that ask customers to rate the appearance of the plumbing store, the survey must include all customers, and the survey method must include setting up a table outside the local dollar store.

The survey must include items that ask customers about their plumbing experiences, the survey sample must include the first 15 customers off the customer database, and the survey method must be repeatable.

The survey must include items that ask customers to rate the quality of plumbing service calls, the survey sample must represent all parts of the customer population, and the survey method must be repeatable.

The survey must include items that ask customers to rate the friendliness of the receptionist, the survey must include all customers from the north side of the city, and the survey method must appeal to all respondents.

Which of the following represents a population and a sample from that population?

Freshmen at St. Joseph’s University and basketball players at St. Joseph’s University

Fans at a concert who purchase t-shirts and fans at a concert who purchase soda

Teachers in a high school and members of the parent teacher group

Residents of Albany, New York, and registered voters in Albany, New York

A recent survey of 200 small firms (annual revenue less than \$10 million) asked whether an increase in the minimum wage would cause the firm to decrease capital spending. Possible responses to the survey question were: “Yes,” “No,” or “Don’t Know.” These data are best classified as ____________.

Nominal Scale

Ratio Scale

Interval Scale

Ordinal Scale

Which of the following variables is quantitative?

Marital Status

Temperature

Religious Affiliation

Gender

A population consists of _________________.

a subject of interest in a statistical problem

all items of interest in a statistical problem

all items of interest in a sample

a subject of interest in a sample

Which of the following variables is qualitative?

Weight

Gender

Temperature

Height

QNT 275 WEEK 2 QUIZ

The accompanying chart shows the numbers of books written by each author in a collection of cookbooks. What type of chart is this?

Bar chart for qualitative data

Frequency histogram for qualitative data

Frequency histogram for quantitative data

Bar chart for quantitative data

In order to summarize qualitative data a useful tool is a __________.

Histogram

Stem-and-Leaf Diagram

Line Graph

Frequency Distribution

QNT 275 WEEK 2 QUIZ

A stem-and-leaf diagram is constructed by separating each value of a data set into two parts. What are these parts?

Stem consisting of the last digit and leaf consisting of the leftmost digits

Stem consisting of the second digit and leaf consisting of the last digit

Stem consisting of the leftmost digits and leaf consisting of the second digit

Stem consisting of the leftmost digits and leaf consisting of the last digit

ABC Plumbing wants to understand its customers’ perceptions of the quality of the company’s plumbing service calls. They plan to survey a sample of its customer base. What will ABC need to do to ensure that their data is valid and reliable?

The survey must include items that ask customers to rate the appearance of the plumbing store, the survey must include all customers, and the survey method must include setting up a table outside the local dollar store.

The survey must include items that ask customers about their plumbing experiences, the survey sample must include the first 15 customers off the customer database, and the survey method must be repeatable.

The survey must include items that ask customers to rate the quality of plumbing service calls, the survey sample must represent all parts of the customer population, and the survey method must be repeatable.

The survey must include items that ask customers to rate the friendliness of the receptionist, the survey must include all customers from the north side of the city, and the survey method must appeal to all respondents.

QNT 275 WEEK 2 QUIZ

Which of the following represents a population and a sample from that population?

Freshmen at St. Joseph’s University and basketball players at St. Joseph’s University

Fans at a concert who purchase t-shirts and fans at a concert who purchase soda

Teachers in a high school and members of the parent teacher group

Residents of Albany, New York, and registered voters in Albany, New York

A recent survey of 200 small firms (annual revenue less than \$10 million) asked whether an increase in the minimum wage would cause the firm to decrease capital spending. Possible responses to the survey question were: “Yes,” “No,” or “Don’t Know.” These data are best classified as ____________.

Nominal Scale

Ratio Scale

Interval Scale

Ordinal Scale

Which of the following variables is quantitative?

Marital Status

Temperature

Religious Affiliation

Gender

QNT 275 WEEK 2 QUIZ

A population consists of _________________.

a subject of interest in a statistical problem

all items of interest in a statistical problem

all items of interest in a sample

a subject of interest in a sample

Which of the following variables is qualitative?

Weight

Gender

Temperature

Height

The accompanying chart shows the numbers of books written by each author in a collection of cookbooks. What type of chart is this?

Bar chart for qualitative data

Frequency histogram for qualitative data

Frequency histogram for quantitative data

Bar chart for quantitative data

In order to summarize qualitative data a useful tool is a __________.

Histogram

Stem-and-Leaf Diagram

Line Graph

Frequency Distribution

4

QNT 275 WEEK 3 CLO BUSINESS DECISION MAKING PROJECT PART 1 (NEW ORIGINAL)

QNT 275 WEEK 3 CLO BUSINESS DECISION MAKING PROJECT PART 1 (NEW ORIGINAL)

QNT 275 WEEK 3 CLO BUSINESS DECISION MAKING PROJECT PART 1 (NEW ORIGINAL)

Identify a business problem or opportunity at a company where you work or with which you’re familiar. This will be a business problem that you use for the individual assignments in Week 3-5. You will chose a company and identify an opportunity or problem that you can analyze and thus better understand that problem or opportunity.

Identify a research variable within the problem/opportunity that could be measured with some type of data collection.

Consider methods for collecting a suitable sample of either qualitative or quantitative data for the variable. Consider how you will know if the data collection method would be valid and reliable.

Write a 700- to 1,050-word description of the company, problem, and variable.

• Identify the name and description of the selected company,
• Describe the problem at that company,
• Identify one research variable from that problem,
• Describe the methods you would use for collecting a suitable sample of either qualitative or quantitative data for the variable (NOTE: do not actually collect any data)
• Analyze how you will know if the data collection method would generate valid and reliable data (Note: do not actually collect any data)

QNT 275 WEEK 3 CLO Business Decision Making Project Part 1QNT 275 WEEK 3 CLO Business Decision Making Project Part 1

Identify a business problem or opportunity at a company where you work or with which you’re familiar. This will be a business problem that you use for the individual assignments in Week 3-5. You will chose a company and identify an opportunity or problem that you can analyze and thus better understand that problem or opportunity.

Identify a research variable within the problem/opportunity that could be measured with some type of data collection.

Consider methods for collecting a suitable sample of either qualitative or quantitative data for the variable. Consider how you will know if the data collection method would be valid and reliable.

Write a 700- to 1,050-word description of the company, problem, and variable.

• Identify the name and description of the selected company,
• Describe the problem at that company,
• Identify one research variable from that problem,
• Describe the methods you would use for collecting a suitable sample of either qualitative or quantitative data for the variable (NOTE: do not actually collect any data)
• Analyze how you will know if the data collection method would generate valid and reliable data (Note: do not actually collect any data)

5

QNT 275 WEEK 3 QUIZ (NEW ORIGINAL)

QNT 275 WEEK 3 QUIZ (NEW ORIGINAL)

QNT 275 WEEK 3 QUIZ (NEW ORIGINAL)

The probability that a normal random variable is less than its mean is ____.

0.5

Cannot be determined

1.0

0.0

Mutually exclusive and collectively exhaustive events _______________.

do not have to contain all outcomes in a sample space and may share common outcomes

contain all outcomes in a sample space and do not share common outcomes.

contain all outcomes in a sample space and may share common outcomes

do not have to contain all outcomes in a sample space but do not share common outcomes

A continuous random variable has the uniform distribution on the interval [a, b] if its probability density functionf(x) ___________.

is bell-shaped between a and b

is constant for all x between a and b, and 0 otherwise

asymptotically approaches the x axis when x increases to +∞ or decreases to -∞

is symmetric around its mean

What is probability?

A value between 0 and 1 assigned to an event that measures the likelihood of its occurrence.

Any value between 0 and 1 is always treated as a probability of an event.

A value between 0 and 1 assigned to an event that measures the unlikelihood of its occurrence.

A numerical value assigned to an event that measures the number of its occurrences.

For any normally distributed random variable with mean μ and standard deviation σ, the percent of the observations that fall between and is closest to _______.

95%

32%

68%

16%

Which of the following can be represented by a continuous random variable?

The number of arrivals to a drive-thru bank window in a four-hour period

The number of defective light bulbs in a sample of 5

The time of a flight between Chicago and New York

The score of a randomly selected student on a five-question multiple-choice quiz

What does it mean when we say that the tails of the normal curve are asymptotic to the x axis?

The tails get closer and closer to the x axis and eventually cross this axis.

The tails get closer and closer to the x axis but never touch it.

The tails get closer and closer to the x axis and eventually become this axis.

The tails gets closer and closer to the x axis and eventually touch it.

Which of the following is correct?

A continuous random variable has a probability mass function, and a discrete random variable has a probability density function.

A continuous random variable has a probability density function but not a cumulative distribution function.

A continuous random variable has a probability density function, and a discrete random variable has a probability mass function.

A discrete random variable has a probability mass function but not a cumulative distribution function.

QNT 275 WEEK 3 QUIZ

You work in marketing for a company that produces work boots. Quality control has sent you a memo detailing the length of time before the boots wear out under heavy use. They find that the boots wear out in an average of 208 days, but the exact amount of time varies, following a normal distribution with a standard deviation of 14 days. For an upcoming ad campaign, you need to know the percent of the pairs that last longer than six months-that is, 180 days. Use the empirical rule to approximate this percent.

2.5%

5%

97.5%

95%

QNT 275 WEEK 3 QUIZ

Which of the following can be represented by a discrete random variable?

The number of obtained spots when rolling a six-sided die

The height of college students

The finishing time of participants in a cross-country meet

The average outside temperature taken every day for two weeks

QNT 275 WEEK 3 QUIZ

QNT 275 WEEK 3 QUIZ

The probability that a normal random variable is less than its mean is ____.

0.5

Cannot be determined

1.0

0.0

Mutually exclusive and collectively exhaustive events _______________.

do not have to contain all outcomes in a sample space and may share common outcomes

contain all outcomes in a sample space and do not share common outcomes.

contain all outcomes in a sample space and may share common outcomes

do not have to contain all outcomes in a sample space but do not share common outcomes

A continuous random variable has the uniform distribution on the interval [a, b] if its probability density functionf(x) ___________.

is bell-shaped between a and b

is constant for all x between a and b, and 0 otherwise

asymptotically approaches the x axis when x increases to +∞ or decreases to -∞

is symmetric around its mean

What is probability?

QNT 275 WEEK 3 QUIZ

A value between 0 and 1 assigned to an event that measures the likelihood of its occurrence.

Any value between 0 and 1 is always treated as a probability of an event.

A value between 0 and 1 assigned to an event that measures the unlikelihood of its occurrence.

A numerical value assigned to an event that measures the number of its occurrences.

For any normally distributed random variable with mean μ and standard deviation σ, the percent of the observations that fall between and is closest to _______.

95%

32%

68%

16%

QNT 275 WEEK 3 QUIZ

Which of the following can be represented by a continuous random variable?

The number of arrivals to a drive-thru bank window in a four-hour period

The number of defective light bulbs in a sample of 5

The time of a flight between Chicago and New York

The score of a randomly selected student on a five-question multiple-choice quiz

What does it mean when we say that the tails of the normal curve are asymptotic to the x axis?

The tails get closer and closer to the x axis and eventually cross this axis.

The tails get closer and closer to the x axis but never touch it.

The tails get closer and closer to the x axis and eventually become this axis.

The tails gets closer and closer to the x axis and eventually touch it.

Which of the following is correct?

A continuous random variable has a probability mass function, and a discrete random variable has a probability density function.

A continuous random variable has a probability density function but not a cumulative distribution function.

A continuous random variable has a probability density function, and a discrete random variable has a probability mass function.

A discrete random variable has a probability mass function but not a cumulative distribution function.

You work in marketing for a company that produces work boots. Quality control has sent you a memo detailing the length of time before the boots wear out under heavy use. They find that the boots wear out in an average of 208 days, but the exact amount of time varies, following a normal distribution with a standard deviation of 14 days. For an upcoming ad campaign, you need to know the percent of the pairs that last longer than six months-that is, 180 days. Use the empirical rule to approximate this percent.

2.5%

5%

97.5%

95%

QNT 275 WEEK 3 QUIZ

Which of the following can be represented by a discrete random variable?

The number of obtained spots when rolling a six-sided die

The height of college students

The finishing time of participants in a cross-country meet

The average outside temperature taken every day for two weeks

6

QNT 275 WEEK 4 CLO BUSINESS DECISION MAKING PROJECT PART 2 (NEW ORIGINAL)

QNT 275 WEEK 4 CLO BUSINESS DECISION MAKING PROJECT PART 2 (NEW ORIGINAL)

QNT 275 WEEK 4 CLO Business Decision Making Project Part 2

Use the same business problem/opportunity and research variable you wrote about in Week 3.

Remember: Do not actually collect any data; think hypothetically.

Write a 700- to 1,050-word summary in which you:

• Identify the types of descriptive statistics that might be best for summarizing the data, if you were to collect a sample.
• Apply the types of inferential statistics that might be best for analyzing the data, if you were to collect a sample.
• Analyze the role probability or trend analysis might play in helping address the business problem.
• Analyze the role that linear regression for trend analysis might play in helping address the business problem.
• Analyze the role that a time series might play in helping address the business problem.

Format your paper consistent with APA guidelines using the template at right.

Click the Assignment Files tab to submit your assignment.

QNT 275 WEEK 4 CLO Business Decision Making Project Part 2QNT 275 WEEK 4 CLO Business Decision Making Project Part 2

Use the same business problem/opportunity and research variable you wrote about in Week 3.

Remember: Do not actually collect any data; think hypothetically.

Write a 700- to 1,050-word summary in which you:

• Identify the types of descriptive statistics that might be best for summarizing the data, if you were to collect a sample.
• Apply the types of inferential statistics that might be best for analyzing the data, if you were to collect a sample.
• Analyze the role probability or trend analysis might play in helping address the business problem.
• Analyze the role that linear regression for trend analysis might play in helping address the business problem.
• Analyze the role that a time series might play in helping address the business problem.

Format your paper consistent with APA guidelines using the template at right.

Click the Assignment Files tab to submit your assignment.

7

QNT 275 WEEK 4 QUIZ (NEW ORIGINAL)

QNT 275 WEEK 4 QUIZ (NEW ORIGINAL)

QNT 275 WEEK 4 QUIZ (NEW ORIGINAL)

Consider the following simple linear regression model: The response variable is:

β0

y

x

ε

The standard error of the estimate measures:

the variability of the values of the sample regression coefficients.

the variability of the observed y-values around the predicted y-values.

the variability of the predicted y-values around the mean of the observed y-values.

the variability of the explanatory variables.

Consider the following simple linear regression model: β0 and β1 are:

the explanatory variables.

the random error terms.

the response variables.

the unknown parameters.

Another name for an explanatory variable is the ___.

dependent variable

independent variable

inferred variable

descriptive variable

For a given set of explanatory variables in general:

the width of a confidence interval is the same as the width of a prediction interval.

a confidence interval is wider than a prediction interval.

a confidence interval is narrower than a prediction interval.

The width of a confidence interval cannot be determined.

In a simple linear regression model if the plots on a scatter diagram lie on a straight line what is the standard error of the estimate?

Infinity

+1

0

-1

What is the name of the variable that’s used to predict another variable?

Explanatory

Standard Error of the Estimate

Coefficient of Determination

Response

Serial correlation is typically observed in:

cross-sectional data.

time series data.

sparse data.

outliers.

Which of the following violates the assumptions of regression analysis?

The error term is correlated with an explanatory variable.

The error term has a zero mean.

The error term is normally distributed.

The error term has a constant variance.

Which of the following variables is not qualitative?

Gender of a person

Student’s status (freshman, sophomore, etc.)

Religious affiliation

Number of dependents claimed on a tax return

QNT 275 WEEK 4 QUIZ

QNT 275 week 4 quiz

Consider the following simple linear regression model: The response variable is:

β0

y

x

ε

The standard error of the estimate measures:

the variability of the values of the sample regression coefficients.

the variability of the observed y-values around the predicted y-values.

the variability of the predicted y-values around the mean of the observed y-values.

the variability of the explanatory variables.

Consider the following simple linear regression model: β0 and β1 are:

the explanatory variables.

the random error terms.

the response variables.

the unknown parameters.

QNT 275 WEEK 4 QUIZ

Another name for an explanatory variable is the ___.

dependent variable

independent variable

inferred variable

descriptive variable

For a given set of explanatory variables in general:

the width of a confidence interval is the same as the width of a prediction interval.

a confidence interval is wider than a prediction interval.

a confidence interval is narrower than a prediction interval.

The width of a confidence interval cannot be determined.

In a simple linear regression model if the plots on a scatter diagram lie on a straight line what is the standard error of the estimate?

Infinity

+1

0

-1

QNT 275 WEEK 4 QUIZ

What is the name of the variable that’s used to predict another variable?

Explanatory

Standard Error of the Estimate

Coefficient of Determination

Response

Serial correlation is typically observed in:

cross-sectional data.

time series data.

sparse data.

outliers.

Which of the following violates the assumptions of regression analysis?

The error term is correlated with an explanatory variable.

The error term has a zero mean.

The error term is normally distributed.

The error term has a constant variance.

QNT 275 WEEK 4 QUIZ

Which of the following variables is not qualitative?

Gender of a person

Student’s status (freshman, sophomore, etc.)

Religious affiliation

Number of dependents claimed on a tax return

8

QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL)

QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL)

QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) Prepare an 11- to 15-slide Microsoft® PowerPoint® presentation for the senior management team based on the
business problem or opportunity you described in Week 3 and 4.
Draw on material you developed in the Week 3 and 4 assignments.Include the following in your presentation:

• Introduction slide
• Agenda slide
• Describe the organization with a brief description
• Explain the business problem or opportunity
• Analyze why the business problem is important
• Identify what variable would be best to measure for this problem. Explain why.
• Apply data analysis techniques to this problem (tell which techniques should be used: descriptive stats, inferential stats, probability, linear regression, time series). Explain why.
• Apply a possible solution to the problem/opportunity with rationale.
• Evaluate how data could be used to measure the implementation of such a solution.
• Conclusion
• References slide (if any source material is quoted or paraphrased throughout the presentation)

Include on the slides what you’d want the audience to see (include appropriate visual aids/layout) and include in the Speaker’s Notes section what you’d say as you present each slide. If any source material is quoted or paraphrased in the presentation, use APA citations and references.

Click the Assignment Files tab to submit your presentation.

QNT 275 WEEK 5 CLO Business Decision Making Project Part 3 Signature Assignment

Prepare an 11- to 15-slide Microsoft® PowerPoint® presentation for the senior management team based on the business problem or opportunity you described in Week 3 and 4. Draw on material you developed in the Week 3 and 4 assignments.

Include the following in your presentation:

• Introduction slide
• Agenda slide
• Describe the organization with a brief description
• Explain the business problem or opportunity
• Analyze why the business problem is important
• Identify what variable would be best to measure for this problem. Explain why.
• Apply data analysis techniques to this problem (tell which techniques should be used: descriptive stats, inferential stats, probability, linear regression, time series). Explain why.
• Apply a possible solution to the problem/opportunity with rationale.
• Evaluate how data could be used to measure the implementation of such a solution.
• Conclusion
• References slide (if any source material is quoted or paraphrased throughout the presentation)

Include on the slides what you’d want the audience to see (include appropriate visual aids/layout) and include in the Speaker’s Notes section what you’d say as you present each slide. If any source material is quoted or paraphrased in the presentation, use APA citations and references.

Click the Assignment Files tab to submit your presentation.

QNT 275 WEEK 5 CLO Business Decision Making Project Part 3 Signature AssignmentQNT 275 WEEK 5 CLO Business Decision Making Project Part 3 Signature Assignment

QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL)

QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL) QNT 275 WEEK 5 CLO BUSINESS DECISION MAKING PROJECT PART 3 SIGNATURE ASSIGNMENT (NEW ORIGINAL)