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BUS 511-Midterm-Test - 1-SampleQuestions

This document provides a sample midterm test for a business statistics course. It contains 8 multiple choice questions testing concepts like data classification, measures of central tendency, probability, and cross-tabulation. The test is worth a total of 30 marks and students are instructed to show their work and calculations for full credit unless otherwise stated. Questions cover topics such as frequency distributions, measures of central tendency, probability, Venn diagrams, and cross-tabulation tables.

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63 views3 pages

BUS 511-Midterm-Test - 1-SampleQuestions

This document provides a sample midterm test for a business statistics course. It contains 8 multiple choice questions testing concepts like data classification, measures of central tendency, probability, and cross-tabulation. The test is worth a total of 30 marks and students are instructed to show their work and calculations for full credit unless otherwise stated. Questions cover topics such as frequency distributions, measures of central tendency, probability, Venn diagrams, and cross-tabulation tables.

Uploaded by

hod.mechengineer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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BUS 511 – Midterm Test‐Sample Questions

‐ Marks are shown in brackets [].


‐ You may use calculators (for basic calculations ONLY) unless stated otherwise
‐ On all questions you are expected to EXPLAIN YOUR WORKING and SHOW ALL CALCULATIONS unless explicitly
stated otherwise.

Name: _________________________________ Student ID: ________________________ Time: 1 hour 20 minutes


1. [4] Classify each of the following as nominal, ordinal, interval, or ratio data.
(a) Distance to class.
(b) Dress size.
(c) Number of sales calls made.
(d) Jersey numbers of football players

2. [4] The table below shows the frequency distribution for the profit earned on vehicles sold last month at the
Applewood Auto Group.

(a) How many vehicles are in the $1,800 up to $2,200 class?


(b) What proportion of the vehicles sold for a profit of between $1,800 up to $2,200?
(c) What proportion of the vehicles sold for a profit of $2,200 or more?
(d) How many vehicles sold for a profit of more than $3,400?

3. [4] The Philadelphia office of Price Waterhouse Coopers LLP hired five accounting trainees this year. Their
monthly starting salaries were: $3,536; $3,173; $3,448; $3,121; and $3,622.
(a) Compute the population mean.
(b) Compute the population variance.
(c) Compute the population standard deviation.
(d) The Pittsburgh office hired six trainees. Their mean monthly salary was $3,550, and the standard
deviation was $250. Compare the two groups.
4. [2] The Consumer Price Index is reported monthly by the U.S. Bureau of Labor Statistics. It reports the change
in prices for a market basket of goods from one period to another. The index for 2000 was 172.2. By 2009, it
increased to 214.5. What was the geometric mean annual increase for the period?

5. [4] Refer to the following diagram and answer the following.

(a) What is the graph called? __________________


(b) What is the median? __________________
(c) What is the first quartile value? __________________
(d) What is the third quartile value? __________________
(e) What is the inter quartile range value? __________________
(f) What are the outliers? __________________________

6. [4] In each of the following cases, indicate whether classical, empirical, or subjective probability is used.
(a) The probability a randomly selected citizen will approve of the U. S. President is 0.75.
(b) The probability a child will attend the same college as his father is 0.4.
(c) After walking through the lunch room it appears that around 70% of the students purchase a school
lunch.
(d) The probability of getting a pair in a card game is 1/221.

7. [3] Routine physical examinations are conducted annually as part of a health service program for General
Concrete Inc. employees. It was discovered that 8 percent of the employees need corrective shoes, 15 percent
need major dental work, and 3 percent need both corrective shoes and major dental work.
(a) What is the probability that an employee selected at random will need either corrective shoes or major
dental work?
(b) Show this situation in the form of a Venn diagram.

8. [5] Each salesperson at Puchett, Sheets, and Hogan Insurance Agency is rated either below average, average,
or above average with respect to sales ability. Each salesperson is also rated with respect to his or her
potential for advancement—either fair, good, or excellent. These traits for the 500 salespeople were cross‐
classified into the following table.
(a) What is this table called?
(b) Construct a tree diagram showing all the probabilities, conditional probabilities, and joint probabilities.
(c) What is the probability a salesperson selected at random will have above average sales ability and
excellent potential for advancement?

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