VIEWS: 174 PAGES: 31 CATEGORY: Accounting POSTED ON: 11/3/2012 Attribution-NonCommercial
1. A coin is tossed, and you win $1 if you get less than 40% heads. How many tosses should you make? Answer a. 10 b. 100 1.33 points Question 2 1. A box has three red balls and four green balls. A gambler bets $1 on red. A ball is randomly chosen. The gambler win $1 if the ball is red, otherwise he loses $1. He will play this game 200 times. The SE for the gambler's net gain is: Answer a. $52.70 b. $15.56 c. $54.13 d. $42.12 e. $14.00 1.33 points Question 3 1. If a set of numbers has an average of 15 and an SD of 3, and each number in the set is multiplied by 4, what will the SD of the new set of numbers be? Answer a. 12 b. 60 c. 10 d. 7 e. 14 1.33 points Question 4 1. A spinner has three numbers on it(1,2,3). Each number has an equal probability of being hit on each spin. A person bets $1 to play the game. He picks a number, then he spins. If his number comes up, he wins $2. He plays this game 100 times. What would be the average amount won per spin on the spinner? Answer a. $100 b. $200 c. $0.00 d. $1.00 e. -$1.00 1.34 points Question 5 1. For gambling problems in which the same bet is made several times, a box model is set up so that the tickets in the box show the amounts that can be won (+) or lost (-) and the chance of drawing any particular value from the box equals the chance of winning that amount on a single play. In this scenario, the following statement is true or false: Now the number of draws equals the number of tickets in the box. Answer True False 1.34 points Question 6 1. A gambler plays roulette 200 times, betting $1 on a split each time. A split pays 17 to 1, and there are 2 ways in 38 to win. (We are interested in the the casino making more than $10.) Find the casino's standard error for the sum. Answer a. $56.84 b. $3.10 c. none of these d. $4.02 e. $10.53 1.33 points Question 7 1. A random sample of 15 people is taken and their weights are: 145, 128, 198, 156, 144, 178, 114, 104, 289, 250, 166, 148, 122, 188, 156. Find the interquartile range. Answer 32 56 none of these 99 185 1.33 points Question 8 1. Find the area under the Normal Curve from -2.5 to 1.1. Answer a. 82.85% b. 98.76% c. 25.89% d. 12.95% e. 72.87% 1.33 points Question 9 1. A pharmaceutical company wants to study the effectiveness of a drug. The company uses a placebo in the study. In order to distinguish the drug pill from the placebo pill, the company should use a color for the placebo pill that is different from the color of the drug pill. Answer True False 1.33 points Question 10 1. Two dice are thrown. What is the probability that at least one of the two dice is a "three"? Answer 1/18 2/3 1/3 11/36 1/6 1.33 points Question 11 1. One hundred draws are made at random with replacement from the box with tickets showing numbers 2, 5, 8. How small can the sum of the draws be? Answer 0 2 200 500 100 1.33 points Question 12 1. The law of averages stated in percentage terms, in case of a rolling a die, will be: with a large number of rolls, the percentage of aces(a single spot), is likely to be close to 16.67% Answer True False 1.33 points Question 13 1. The population of interest for "Dancing with the Stars" is all of the people who watched the show. From this population, people call in for their favorite. What is the best description of bias that takes place? Answer a. simple random sampling b. none of these c. cluster bias d. non-response bias e. selection bias 1.34 points Question 14 1. A gambler plays roulette, and makes a $1 bet on four numbers, 400 times. The bet pays 8 to 1. Find the chance that the casino will win between $30 and $40. Answer a. 63.69% b. 7.88% c. 15.45% d. 83.85% e. 7.73% 1.34 points Question 15 1. The probability histogram for the average of the draw will follow the normal curve, even if the contents of the box do not, as long as the histogram is put into standard units, and the number of draws is large. Answer a. True b. False 1.34 points Question 16 1. The GPA of students in a large university follows a normal distribution with an average of 3.05 and SD of 0.45. The upper quartile is about: Answer a. 3.21 b. 3.74 c. 3 d. 2.95 e. 3.34 1.33 points Question 17 1. A gambler plays roulette 200 times, betting $1 on a split each time. A split pays 17 to 1, and there are 2 chances in 38 to win. Find the chance that the casino makes more than $10 from these plays. Answer a. 7.5% b. 24.56% c. 69.19% d. 50.00% e. 3.60% 1.33 points Question 18 1. A researcher wants to study the spending habits of customers of a local shopping mall. The mall manager claims that the average spending per customer is $70, but the researcher believes that the average is less than $70. A simple random sample of 350 shoppers is obtained. The sample average is $65 and the sample SD is $27. Find the null hypothesis. Answer a. the sample average is less than $70 b. the population average is $70 c. none of these d. the population average is less than $70 e. the population average is greater than $70 1.33 points Question 19 1. A box contains two red marbles and three white marbles. Two marbles are drawn without replacement. What is the chance that the second one is red given that the first one is red? Answer 1/2 1/4 1/10 1/5 2/5 1.33 points Question 20 1. There are 10 workers and 2 administrators in a company meeting room. Two people will be selected at random without replacement. The chance that the second person is a worker given that the first person is an administrator is: Answer a. 5/6 b. none of these c. 5/33 d. 10/11 e. 15/66 1.33 points Question 21 1. When a medical study compares a present-day group undergoing a newly developed procedure with patients in the past who received more traditional care, the study has ______________. Answer controlled error response bias gender bias historical controls none of these 1.33 points Question 22 1. The standard deviation is a measure of ________________. Answer a. spread b. center 1.33 points Question 23 1. As a person increases the number of tosses of a fair coin, the actual number of heads will get further and further away from the number of tosses divided by two. Answer a. False b. True 1.34 points Question 24 1. In a month, there are 7,000 independent plays on a roulette wheel in a certain casino. Suppose the gamblers only stake $1 on red at each play. (Red or black pays even money.) We ultimately want to find the chance that the house will win more than $300 from these plays. Find the standard error for the sum. Answer $83.56 $50.00 $21.66 $41.78 $99.86 1.33 points Question 25 1. A gambler plays roulette, and makes a $1 bet on four numbers, 400 times. The bet pays 8 to 1. Find the standard error for the sum. Answer a. $15.80 b. $61.76 c. none of these d. $55.24 e. $56.76 1.34 points Question 26 1. Two persons, X and Y, watch the tossing of a fair coin by a common friend, Z. The first ten tosses turn up to be heads. Now X says that in order for law of average to be true, the 11th toss has to be a tail. But Y says that in view of the pattern seen so far, the 11th toss has to be a head. Select the correct conclusion from the list of statements below: Answer Both X and Y are correct Only Y is correct Only X is correct Both X and Y are incorrect Who tosses the coin matters 1.33 points Question 27 1. A researcher wants to study the spending habits of customers of a local shopping mall. The mall manager claims that the average spending per customer is $70, but the researcher believes that the average is less than $70. A simple random sample of 350 shoppers is obtained. The sample average is $65 and the sample SD is $27. Find the alternative hypothesis. Answer a. the population average is greater than $70 b. the population average is $70 c. the sample average is less than $70 d. the population average is less than $70 e. none of these 1.33 points Question 28 1. There are 300 total test papers. Test Score Intervals Frequency Percent 90-100 36 _____ 80-90 ____ 20 70-80 138 46 60-70 45 ____ 50-60 _____ 7 For the histogram that could be created relative to the previous table, find the height of the block over 90-100. Answer a. 1.2% b. 4% c. 12% d. 2.5% e. 36% 1.33 points Question 29 1. The purpose of randomization is to minimize bias. Answer True False 1.33 points Question 30 1. The GPA of students in a large university follows a normal distribution with an average of 3.05 and an SD of 0.45. Find the 90th percentile. Answer a. 3.05 b. 3.90 c. 4.00 d. 3.22 e. 3.64 1.33 points Question 31 1. In a month, there are 7,000 independent plays on a roulette wheel in a certain casino. Suppose the gamblers only stake $1 on red at each play. (Red or black pays even money.) Find the chance that the house will win more than $300 from these plays. Answer 21% 79% 85% 29% 58% 1.33 points Question 32 1. A researcher wants to study the spending habits of customers of a local shopping mall. The mall manager claims that the average spending per customer is $70, but the researcher believes that the average is less than $70. A simple random sample of 350 shoppers is obtained. The sample average is $65 and the sample SD is $27. Should we believe the mall manager's claim? Answer a. No b. Yes 1.33 points Question 33 1. For the women age 18-24 in the HANES2 sample, the average height was about 65.2 inches, and the SD was about 1.9 inches. Estimate the percentage of women with heights above 65 inches. Answer a. 46.02% b. 7.97% c. 53.99% d. 92.03% e. 68.27% 1.33 points Question 34 1. A group of 50,000 tax forms has 20% with gross income over $50,000. A group of 900 forms is chosen at random for audit. A box model is used to work out the expected value and the standard error for the percentage of people with incomes over $50,000 in the sample. Choose what best describes "sample size". Answer a. Box b. Percentage of 1s among the draws c. 180 d. 20% e. 900 1.34 points Question 35 1. A rope manufacturer claims that is brand has a breaking strength of 1500 lbs. A consumer agency wishing to test the claim took a simple random sample of 225 ropes, and found the average breaking strength to be 1425 with a standard deviation of 400 lbs. Report the Standard error for the average. Answer 43.45 2.56 29.73 26.67 1.33 1.34 points Question 36 1. A card is picked at random from an ordinary deck. What is the probability that it is a jack given that it is a face card? Answer 1/4 1/3 1/12 1/13 1/2 1.33 points Question 37 1. The GPA of students in a large university follows a normal distribution with an average 3.05 and SD of 0.45. Find the chance that a student's GPA is greater than 3.5. Answer a. 32% b. 68% c. 95% d. 14.89% e. 16% 1.34 points Question 38 1. Find the probability that three cards are drawn from a deck, and you get two reds, followed by a black. Answer a. 13/102 b. 1/11050 c. 1/5100 d. none of these e. 169/1020 1.34 points Question 39 1. A researcher wants to study the spending habits of customers of a local shopping mall. The mall manager claims that the average spending per customer is $70, but the researcher believes that the average is less than $70. A simple random sample of 350 shoppers is obtained. The sample average is $65 and the sample SD is $27. We should _________ the null hypothesis. Answer a. Reject b. Accept 1.33 points Question 40 1. The average on an exam was 23.5 and the SD was 5.5. Use the normal curve to estimate the percentage of students who made between 18 and 29. Answer a. 68.27% b. 20% c. 55% d. 95.43% e. 16.64% 1.33 points Question 41 1. A rope manufacturer claims that is brand has a breaking strength of 1500 lbs. A consumer agency wishing to test the claim took a simple random sample of 225 ropes, and found the average breaking strength to be 1425 with a standard deviation of 400 lbs. Should we accept or reject the null hypothesis? Answer accept reject 1.33 points Question 42 1. A rope manufacturer claims that is brand has a breaking strength of 1500 lbs. A consumer agency wishing to test the claim took a simple random sample of 225 ropes, and found the average breaking strength to be 1425 with a standard deviation of 400 lbs. Find the value of the test statistic. Answer 2.15 none of these -2.81 -1.19 -0.98 1.34 points Question 43 1. A rope manufacturer claims that is brand has a breaking strength of 1500 lbs. A consumer agency wishing to test the claim took a simple random sample of 225 ropes, and found the average breaking strength to be 1425 with a standard deviation of 400 lbs. Find the best conclusion. Answer the p-value is too large, do not reject the manufacturer's claim none of these the result is statistically significant, so reject the manufacturer's claim the result is inconclusive, so try another sample this result is highly significant, so reject the manufacturer's claim 1.33 points Question 44 1. The heights of the men age 18 and over in the HANES sample averaged 68.5 inches; the SD was 2.9 inches. Use the normal curve to estimate the percentage of these men with heights between 65 and 68 inches. Answer a. 32.54% b. 44.46% c. none of these d. 76.99% e. 11.92% 1.33 points Question 45 1. We toss a die 300 times. What is the chance that we get more than sixty 3s? Answer a. 87.90% b. 0.35% c. 6.06% d. 12.11% e. 87.89% 1.34 points Question 46 1. A gambler plays roulette, and makes a $1 bet on four numbers, 400 times. The bet pays 8 to 1. Find the SD of the box model that would go with this situation. Answer a. $56.75 b. none of these c. $2.76 d. $61.76 e. $5.37 1.33 points Question 47 1. A confounding factor is a third variable that affects the responses. There is no way to control the confounding factor. Answer True False 1.33 points Question 48 1. We toss a die 300 times. Find the standard error for the expected number of 3s. Answer a. 6.45 b. 0.022 c. 3.73 d. 7.06 e. 0.3727 1.34 points Question 49 1. A probability histogram represents chance by area. Answer a. True b. False 1.34 points Question 50 1. A random sample of 15 people is taken and their weights are: 145, 128, 198, 156, 144, 178, 114, 104, 289, 250, 166, 148, 122, 188, 156. There is(are) __________ outlier(s). Answer 1 3 2 0 none of these 1.33 points Question 51 1. Sixteen people in a room have an average height of 5'6". A seventeenth person enters the room. How tall would he have to be to raise the average height by one inch? Answer a. 5'8" b. 6"11" c. 6'2" d. 6'1" e. 6'5" 1.33 points Question 52 1. Arlington voters have recently approved the Cowboys stadium near the Ameriquest Field. The project would require the relocation of some homeowners. The city council voted that these homeowners will be paid $22,500, fair-market value for their houses and moving expenses. A researcher wants to find out Arlington residence opinion whether the compensation is fair to these homeowners. He randomly selects 30 homeowners for relocation and 30 other Arlington citizens. He then compares the opinions of the two groups. This is a(n) _________________. Answer observational study randomized controlled experiment 1.33 points Question 53 1. The GPA of students in a large university follows a normal distribution with an average of 3.05 and SD of 0.45. The chance that a student's GPA is between 2.5 and 3.5 is: Answer a. 48% b. 90% c. 68% d. 39% e. 73% 1.33 points Question 54 1. There are 10 workers and 2 administrators in a company meeting room. Two people will be selected at random without replacement. The chance that both are administrators is: Answer a. none of these b. 1/3 c. 1/66 d. 2/33 e. 1/36 1.34 points Question 55 1. A researcher wants to study the spending habits of customers of a local shopping mall. The mall manager claims that the average spending per customer is $70, but the researcher believes that the average is less than $70. A simple random sample of 350 shoppers is obtained. The sample average is $65 and the sample SD is $27. Find the SE for the sample average. Answer a. 5.08 b. 1.44 c. 1.34 d. 1.27 e. 2.91 1.33 points Question 56 1. In a month, there are 7,000 independent plays on a roulette wheel in a certain casino. Suppose the gamblers only stake $1 on red at each play. (Red or black pays even money.) We ultimately want to find the chance that the house will win more than $300 from these plays. Find the expected value for the sum . Answer $459.91 $368.42 $105.78 -$368.42 $526 1.33 points Question 57 1. Liver cancer is more common among people who smoke, so we conclude that smoking causes liver cancer. Answer True False 1.33 points Question 58 1. In a month, there are 7,000 independent plays on a roulette wheel in a certain casino. Suppose the gamblers only stake $1 on red at each play. (Red or black pays even money.) We ultimately want to find the chance that the house will win more than $300 from these plays. What is 300 in standard units? Answer 2 -0.82 -0.69 1 -1.63 1.33 points Question 59 1. Bias occurs systematically, so we can not eliminate the systematic error. Answer True False 1.33 points Question 60 1. In cluster sampling, the sample is hand-picked to resemble the population. Answer a. False b. True 1.34 points Question 61 1. A die will be rolled some number of times, and you win $1 if it shows a three less than 25% of the time. Which is better? Answer a. 70 rolls b. 700 rolls 1.33 points Question 62 1. A gambler bets $1 on the number "19" 1600 times in roulette. This bet pays 35 to 1. What is the give-or-take on the estimate of his winnings? Answer a. $230.50 b. $184.25 c. $84.36 d. $23.50 e. $96.58 1.34 points Question 63 1. Bias in measurement theory is called ____________. Answer a. sampling error b. systematic error c. chance error 1.33 points Question 64 1. The sum of the draws from a box is 440. If the average of these draws is 2.20, how many draws were there? Answer a. 200 b. 968 c. impossible to tell d. 880 e. 20 1.33 points Question 65 1. A random sample of 15 people is taken and their weights are: 145, 128, 198, 156, 144, 178, 114, 104, 289, 250, 166, 148, 122, 188, 156. True or False: The median is 156. Answer True False 1.34 points Question 66 1. A _____________ is taken from the _____________ in order to estimate the ________________. Answer a. sample, population, statistic b. population, sample, parameter c. sample, population, parameter d. population, sample, statistic 1.33 points Question 67 1. In a certain city, there are 100,000 persons age 18 to 24. A simple random sample of 500 such persons is drawn, of whom 198 turn out to be currently enrolled in college. If possible, find a 95% confidence interval for the percentage of all persons age 18 to 24 in that city who are currently enrolled in college. Answer a. none of these b. 36.72% to 45.48% c. not possible d. 35.22% to 43.98% e. 33.06% to 40.41% 1.34 points Question 68 1. A rope manufacturer claims that is brand has a breaking strength of 1500 lbs. A consumer agency wishing to test the claim took a simple random sample of 225 ropes, and found the average breaking strength to be 1425 with a standard deviation of 400 lbs. Find the null hypothesis. Answer none of these average breaking strength is greater than 1425 lb. average breaking strength is less than 1500 lb. average breaking strength is 1500 lb. average breaking strength is 1425 lb. 1.34 points Question 69 1. In a certain city, there are 100,000 persons age 18 to 24. A simple random sample of 500 such persons is drawn, of whom 198 turn out to be currently enrolled in college. Estimate the percentage of all persons age 18 to 24 in that city who are currently enrolled in college. Answer a. 41.1% b. 39.2% c. 38.8% d. 40% e. 39.6% 1.34 points Question 70 1. A rope manufacturer claims that is brand has a breaking strength of 1500 lbs. A consumer agency wishing to test the claim took a simple random sample of 225 ropes, and found the average breaking strength to be 1425 with a standard deviation of 400 lbs. Find the p-value. Answer 0.51% 3.01% 2% 0.65% 1.34 points Question 71 1. A die is rolled 5 times. You win $1000 for every 'four' that occurs. What is the chance that you win only on the first and last rolls(and lose on the others0? Answer 125/7776 1/15 1/90 25/7776 2/5 1.33 points Question 72 1. A gambler plays roulette, and makes a $1 bet on four numbers, 400 times. The bet pays 8 to 1. Find the amount of money the CASINO is expected to make. Answer a. $52.63 b. $33.33 c. $210.53 d. $-21.05 e. $21.05 1.33 points Question 73 1. Among freshmen at a certain university, scores on the Math SAT followed the normal curve, with an average of 490 and an SD of 85. Find the 75th percentile of the score distribution. Answer 510 560 318 615 545 1.34 points Question 74 1. A survey is conducted in which the respondents are asked to name their favorite movie in the previous 5 year period. Their responses are examples of _____________________. Answer quantitative continuous data quantitative discrete data qualitative data 1.33 points Question 75 1. You have hired a polling organization to take a simple random sample from a box of 200,000 tickets and estimate the percentage of 1s in the box. Unknown to them, the box contains 50% 0s and 50% 1s. How far off should you expect them to be if they draw 50,000 tickets? Answer a. 1.50% b. 0.17% c. 0.20% d. 0.23% e. 0.19%