Question No.

1
A survey to collect data on the entire population is
Options

a census
a sample
a population
an inference
uestion No. 2

A portion of the population selected to represent the population is called

Options

statistical inference
descriptive statistics
a census
a sample
Question No. 3

Qualitative data can be graphically represented by using a(n)

Options

histogram
frequency polygon
ogive
bar graph
Question No. 4

Fifteen percent of the students in a school of Business Administration are majoring in Economics, 20% in Finance, 35%
Management, and 30% in Accounting. The graphical device(s) which can be used to present these data is (are
Options

a line graph

only a bar graph

only a pie chart
both a bar graph and a pie chart
Question No. 6
The mean of a sample
Options

is always equal to the mean of the population

is always smaller than the mean of the population
is computed by summing the data values and dividing the sum by (n - 1)
is computed by summing all the data values and dividing the sum by the number of items
Question No. 7
The median of a sample will always equal the
Options

mode
mean
50th percentile
all of the above answers are correct
Question No. 8

The difference between the largest and the smallest data values is the
Options

variance
interquartile range
range
coefficient of variation
Question No. 9

The most frequently occurring value of a data set is called the

Options

range
mode
mean
median
Question No. 10
The heights (in inches) of 25 individuals were recorded and the following statistics were calculated

mean = 70

range = 20

mode = 73

variance = 784

median = 74
The coefficient of variation equals
Options

11.2%
1120%
0.4%
40%
Question No. 11

The standard deviation of a sample of 100 observations equals 64. The variance of the sample equals
Options

8
10
6400
4,096
Question No. 12

Which of the following is not a measure of dispersion?

Options

the range
the 50th percentile
the standard deviation
the interquartile range
Question No. 13
The coefficient of variation is
Options

the same as the variance

the standard deviation divided by the mean times 100
the square of the standard deviation
the mean divided by the standard deviation
Question No. 14

A numerical measure of linear association between two variables is the

Options

variance
coefficient of variation
correlation coefficient
standard deviation
Question No. 15
The coefficient of correlation ranges between
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0 and 1
-1 and +1

minus infinity and plus infinity

1 and 100
Question No. 16

Options

regression equation
correlation equation
estimated regression equation
regression model

A regression analysis between sales (Y in $1000) and advertising (X in dollars) resulted in the following equa

The above equation implies that an

Options

increase of $4 in advertising is associated with an increase of $4,000 in sales

increase of $1 in advertising is associated with an increase of $4 in sales
increase of $1 in advertising is associated with an increase of $34,000 in sales
increase of $1 in advertising is associated with an increase of $4,000 in sales
Question No. 18

Regression analysis is a statistical procedure for developing a mathematical equation that describes how
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one independent and one or more dependent variables are related

several independent and several dependent variables are related

one dependent and one or more independent variables are related

None of these alternatives is correct
Question No. 19

Options

increase by 120 units

increase by 100 units
increase by 20 units
decease by 20 units
Question No. 20
Which of the following is not present in a time series?
Options

seasonality
operational variations
trend
cycles
Question No. 21

The trend component is easy to identify by using

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moving averages
exponential smoothing
regression analysis
the Delphi approach
uestion No. 22

The forecasting method that is appropriate when the time series has no significant trend, cyclical, or seasonal
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moving averages
mean squared error
mean average deviation
qualitative forecasting methods
Question No. 23

If P(A) = 0.4, P(B | A) = 0.35, P(A B) = 0.69, then P(B) =

Options

0.14
0.43
0.75
0.59
Question No. 24

If P(A) = 0.5 and P(B) = 0.5, then P(A B)

Options

is 0.00
is 1.00
is 0.5
None of these alternatives is correct.
Question No. 25

A probability distribution showing the probability of x successes in n trials, where the probability of success d
from trial to trial, is termed a

Options

uniform probability distribution

binomial probability distribution
hypergeometric probability distribution
normal probability distribution
Question No. 26

Four percent of the customers of a mortgage company default on their payments. A sample of five customers
What is the probability that exactly two customers in the sample will default on their payments?
Options

0.2592
0.0142
0.9588
0.7408
Question No. 27

The center of a normal curve is

Options

always equal to zero

is the mean of the distribution
cannot be negative
is the standard deviation
Question No. 28

Options

0.9091

0.4812
0.4279
0.0533
Question No. 29

A tabular representation of the payoffs for a decision problem is a

Options

decision tree
payoff table
matrix
sequential matrix
Question No. 30
A decision criterion which weights the payoff for each decision by its probability of occurrence is known as the
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Payoff criterion
expected value criterion
probability
expected value of perfect information
Question No. 31

The expected opportunity loss of the best decision alternative is the

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expected monetary value

payoff
expected value of perfect information
None of these alternatives is correct.
uestion No. 32

An assumption made about the value of a population parameter is called a

Options

hypothesis
conclusion
confidence
significance
Question No. 33
The level of significance is the
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maximum allowable probability of Type II error

maximum allowable probability of Type I error
same as the confidence coefficient
same as the p-value
Question No. 34

The level of significance in hypothesis testing is the probability of

Options

accepting a true null hypothesis

accepting a false null hypothesis
rejecting a true null hypothesis
None of these alternatives is correct.
Question No. 35

A soft drink filling machine, when in perfect adjustment, fills the bottles with 12 ounces of soft drink. Any over filling or under filling results in the shutdown and readjustment of the mac
or not the machine is properly adjusted, the correct set of hypotheses is
Options

Question No. 36

Whenever all the constraints in a linear program are expressed as equalities, the linear program is said to be written in
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bounded form.
feasible form.
standard form.
alternative form.
Question No. 37

if an artificial variable is present in the basic variable column of simplex table, then the solution is
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degenerate

infeasible
unbounded
none of the above
Question No. 38

The solution to a transportation problem with m - row and n - columns is feasible if number of positive allocations are
Options

mxn
m+n
m+n-1
m+n+1
Question No. 39

Slack
Options

is the difference between the left and right sides of a constraint.

exists for each variable in a linear programming problem.

Question No. 40
To find the optimal solution to a linear programming problem using the graphical method
Options

find the feasible point that is at the highest location.

find the feasible point that is closest to the origin.
find the feasible point that is the farthest away from the origin.
None of the alternatives is correct.