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Business Statistics and Probability

The science of intelligent decision making in the face of uncertainty and is used in many disciplines, such as financial analysis, and marketing research.

descriptive

inferential

classical

empirical

subjective

axiomatic

independent & dependent

active and attribute

continuous

discrete

categorical

extraneous

demographic

Classify: Data gathered from personal observation

  • Primary
  • Secondary

Which is incorrect? [3]

  • 5P5=1
  • 0C0=1
  • 5C0=1
  • 0P0=1

Which method is the most time consuming?

  • Questionnaire Method
  • Registration Method
  • Interview Method

Analyze the data and determine the kurtosis: 40, 30, 10, 5, 15

  • platykurtic
  • mesokurtic
  • leptokurtic

Educationally speaking, Mr. P is a researcher who studies the economics of legal prostitution, He plans to conduct a survey study but because of the sensitive topic, he has no access and no idea regarding the population of study. He only know one respondent and that was Ms Cute, after the productive survey with her, Mr. P asked if she knows someone who is willing to cooperate with his research, Ms Cute then brings Mr. P to Miss Beautiful. After doing the same thing, Mr. P requested Ms Beautiful if she knows another respondent who is willing to cooperate, Ms Beautiful then brings him to Ms Chaka. What sampling method was used by Mr. P?

  • snow-ball sampling
  • random sampling
  • convenience sampling
  • accidental sampling

Gross Sales per day

  • Qualitative
  • Quantitative

Which statement is false? [4]

  • In accidental sampling, samples chosen are only those whom the researcher meets by chance.
  • Cluster Sampling- this can be used when the population is large.
  • Purposive Sampling is a process of picking out respondents in the most convenient and fastest way
  • Multi-Stage Sampling can be a combination of cluster sampling, stratified sampling and systematic random sampling.

This is the maximum value of the probability of rejecting the hypothesis when in fact it is true

  • Level of Significance
  • Level of Approximation
  • Level of Rejection
  • Level of Probability

Imagine that you are the banker of the game "deal or no deal". Supposing that you are tasked to make an offer worth 30% lower than the mean of the remaining amounts contained in the unopened briefcases. There are only three briefcases left unopened, one chosen by the player and two with the deal or no deal ladies . The remaining amounts are Php1,000,000, Php700,000 and Php100,000. What amount will you offer to the player?

  • Php1,0260,000
  • Php180,000
  • Php420,000
  • Php540,000

Classify: Data gathered from books

  • Primary
  • Secondary

In how many ways can you arrange 5 people in a line?

  • 24
  • 5555
  • 500
  • 120

Given the following data 10, 20, 30, 40, 50. Find the population variance.

  • 10
  • 250
  • 50
  • 200

In this type skewness, median is greater than the mean but less than the mode

  • Negatively Skewed
  • none of these
  • Positively Skewed
  • normal curve

Analyze the excel sheet formula and identify which one does not belong to the group

  • f(x)=BINOM.DIST(5,10,0.5,FALSE)
  • f(x)=EXPON.DIST(9,1/10,FALSE)
  • f(x)=HYPGEOM.DIST(3,4,6,9,FALSE)
  • f(x)=NEGBINOM.DIST(12,6,0.5,FALSE)

A researcher was interested in whether an individual's interest in politics was influenced by their level of education and gender. Therefore, the dependent variable was "interest in politics", and the two independent variables were "gender" and "level of education". In particular, the researcher wanted to know whether there was an interaction between education level and gender. What statistical method can be best used?

  • none of these
  • Two-way ANOVA with replication
  • Two-way ANOVA without replication
  • One-way ANOVA

Which statement is false? [3]

  • Continuous probability distribution is an infinite probability distribution used to find probability for a continuous range of values.
  • A random variable can be classified in two types.
  • Discrete probability distribution is used to calculate probability for values between intervals.
  • In a discrete probability distribution, each possible value of the discrete random variable can be associated with a non-zero probability.

Which statement is false? [9]

  • Karl Pearson is the one who developed the chi-square test. His son was Egon Pearson.
  • Fisher developed the Analysis of Variance.
  • John Graunt is a demographer who published the book “Natural and Political Observations made upon the Bills of Morality”.
  • Statistics is a scientific body of knowledge that deals with the collection, organization, presentation, analysis and interpretation of data.

Census of population is an example of

  • Questionnaire Method
  • Experimental Method
  • Observation Method
  • Registration Method

This is an assumption of relationship between variables

  • Variance
  • Mathematical Assumption
  • Variable
  • Hypothesis

Supposing that there are 7 distinct chairs to be arranged in a round table. How many possible arrangements will there be?

  • 720
  • 5,040
  • 24
  • 120

Which of the following is not included in the group [2]

  • cluster sampling
  • convenience sampling
  • multi-stage sampling
  • simple random sampling

A set data has five elements having a mode of 6. Find missing data 10, 4, 6, 7, _

  • 4
  • 5
  • 6
  • 7

It is a theoretical concept whose objective is to be able to explain for some variables the reaction between the intervals of its values and their corresponding probabilities.

  • Poisson Distribution
  • Exponential Distribution
  • Negative Binomial Distribution
  • Normal Distriburion

Which can be considered as median?

  • P45
  • D4
  • Q2
  • P60

If both the series move in the same direction and the variations are in a fixed proportion, correlation between them is said to be

  • Non-linear correlation
  • Linear correlation
  • Perfect positive correlation
  • Perfect correlation

You are in charged of the repacking of goods. There are 2 types of canned sardines, 3 types of rice and 2 types of noodles. How many combinations can you make if you are only allowed to pick one per product?

  • 24
  • 12
  • 48
  • 7

This type of statistical test is used when relationship of two or more variables are said to be "not equal to" or the problem has no condition.

  • Two-tailed Test
  • Positive One-tailed Test
  • Three-tailed Test
  • Negative One-tailed Test

Find the margin of error used if sample size computed is 90 at and population is 900.

  • 0.09
  • none of these
  • 0.01
  • 0.1

Analyze the statement and identify the one depicting two tailed test

  • The probability of getting above 10.
  • The probability of getting 10
  • The probability of getting 10 and below.
  • the probability of getting 10 and above

There are 10 employees in a small business firm. From these employees, two of them have a salary of Php20,000; three of them receive Php25,000; four of them receive Php30,000; lastly the manager's salary is not given. Supposing that the average salary of the 10 employees is worth Php29,000, what is the range amount of their salaries?

  • Php35,000
  • Php10,000
  • Php9,000
  • Php30,000

The average number of homes sold by the Acme Realty company is 2 homes per day. What is the probability that exactly 3 homes will be sold tomorrow?

  • 0.18
  • 0.30
  • 0.12
  • 0.20

Employment Status

  • Qualitative
  • Quantitative

Identify the area where statistics is being described: Statistics is applied in performance appraisal of employees.

  • Financial Planning
  • Marketing
  • Personnel Management
  • Quality Control

The variance of the final grades of 50 students is equal to 16, what is the value of standard deviation?

  • 4
  • 256
  • 2
  • 8

Which statement is false? [7]

  • Lottery Method is a form of simple random sampling.
  • Quota sampling is similar to stratified random sampling. The only difference is that the selection of sample using quota sampling is not done randomly.
  • Stratified Random Sampling can be used when the members of the population belong to the same category, class or group.
  • In Systematic Sampling, sample units are obtained by drawing every nth element of a series representing a population.

Analyze the situation given and tell whether the situation will make use of Descriptive or Inferential Statistics: The cashier gathers the receipts and totals the income every day.

  • Inferential Statistics
  • Descriptive Statistics

Regression modeling is a statistical framework for developing a mathematical equation that describes how

  • one explanatory and one or more response variables are related
  • All of these are correct
  • one response and one or more explanatory variables are related
  • several explanatory and several response variables response are related

In the regression equation Y = a + bX, b is called:

  • none of these
  • bold variable
  • intercept
  • slope

In a study, subjects are randomly assigned to one of three groups: control, experimental A, or experimental B. After treatment, the mean scores for the three groups are compared. The appropriate statistical test for comparing these means is:

  • T-test
  • ANOVA
  • Z-test
  • Correlation

When you roll a dice, what is the probability of getting an odd number?

  • 0.3
  • 0.5
  • 0.8
  • 1

This is a statistic expressing the amount of random sampling error in a survey's results

  • margin of statistic
  • margin of confidence
  • margin of sampling
  • margin of error

Evaluate the formula and identify the correct expression

  • f(x)=HYPGEOM.DIST(3,4,6,9,FALSE)= 0.48
  • f(x)=HYPGEOM.DIST(3,4,6,9,FALSE)= 0.42
  • f(x)=HYPGEOM.DIST(3,4,6,9,FALSE)= 0.38
  • f(x)=HYPGEOM.DIST(3,4,6,9,FALSE)=0.45

Which of the following is not included in the group

  • Stratified sampling
  • Systematic sampling
  • snow-ball sampling
  • cluster sampling

Seller, A, B and C records their transaction under the accrual basis. They had a profit of Php 10,000, Php20,000 and Php15,000 respectively. Calculate the mean or average income of the 3 sellers after the following accounting adjustments. Seller A received Php1,000 as payment for past recorded receivable Seller B forgot to record electricity expense worth Php1,200 Seller C paid accrued expenses worth Php2,000

  • Php13,933
  • Php15,000
  • Php14,600
  • Php 13,600

This examines two or more independent samples based on multiple characteristics. In this method, the data must be balanced and factors must be fixed.

  • one-way ANOVA
  • T-test
  • 2-way ANOVA
  • Z-test

A company has 25 rank and file employees. They are planning to have an organization. In how many ways can they elect a president, vice president, secretary and treasurer?

  • 125, 268
  • 12,650
  • 100
  • 303,600

Taxable Income

  • Quantitative
  • Qualitative

This refers to the drawing of conclusion from the analyzed data

  • Presentation
  • Analysis
  • Collection
  • Interpretation

What will be your decision if the absolute calculated value is greater than the tabular value?

  • Accept Null Hypothesis
  • Reject Null Hypothesis
  • Do not accept nor reject any hypothesis
  • Reject Alternative Hypothesis

This examines whether samples are different and is commonly used when the variances of normal distributions are unknown and when an experiment uses a small sample size.

  • Chi-square Test for Goodness of Fit
  • z-test
  • T-test
  • Chi-square Test for Independence

A hypothesis that is intended for statistical test is generally stated in ________ form.

  • Significant
  • Positive
  • Null
  • Alternative

In this type of distribution, the number of successes is fixed and the number of trials varies. The function calculates the probability of a given number of failures occurring, before a fixed number of successes.

  • Binomial Distribution
  • Negative Binomial Distribution
  • Poisson Distribution
  • Hypergeometric Distribution

Which is not included in the group

  • Defective or inaccurate data used
  • Adequate sample
  • Suppression of unfavorable results
  • Arithmetical Mistakes

Analyze the data and determine whether it is positively skewed or negatively skewed: Mean = 30, Median = 10, Standard deviation 20

  • Negatively Skewed
  • Positively Skewed

Analyze the excel sheet formula and identify which that does not belong to the group

  • f(x)=NEGBINOM.DIST(12,6,0.5,FALSE)
  • f(x)=EXPON.DIST(9,1/10,FALSE)
  • f(x)=BINOM.DIST(5,10,0.5,FALSE)
  • f(x)=NORM.DIST(183,175,E9,FALSE)

Classify: Time taken to produce one product

  • Numerical
  • Categorical

In our discussion, what is the fourth step in hypothesis testing?

  • Compare calculated vs tabulated value
  • Select the level of significance
  • Determine the critical value
  • Select the test statistic and compute its value

There are 7 applicants for a job, in how many ways can you select 2 applicants to occupy the vacant positions?

  • 72
  • 21
  • 14
  • 42

Statement 1. Gosset formulated the t-test Statement 2.Egon Pearson was the one who formulated the Pearson chi-square test

  • Statement 1 is wrong and Statement 2 is correct
  • Both statements are wrong
  • Statement 1 is correct and Statement 2 is wrong
  • Both statements are correct

This test is applied when you have one categorical variable from a single population. It is used to determine whether sample data are consistent with a hypothesized distribution.

  • Chi-square Test for Independence
  • T-test
  • Chi-square Test for Goodness of Fit
  • z-test

In an employment exam, 3 applicants got a score of 21-30 while 4 applicants got 31-40. Compute the mean of the grouped data.

  • 30.5
  • 27.42
  • 31.21
  • 34.75

16 BSBA students took a quiz in Business Statistics, five of them got a score of 5; five got a score of 10 ; five got a score of 15 and the other one was unknown. If the mean score of 16 students is 10, what is the modal score?

  • 5, 10 and 15
  • 5
  • 15
  • 10

This is the probability distribution that describes the time between events.

  • Exponential Distribution
  • Negative Binomial Distribution
  • Normal Distriburion
  • Poisson Distribution

Which statement is false? [6]

  • Tabulation can be classified as special. In this type classification,the data are classified according to place. This includes town, district, state and country.
  • Bar Graph is a graph that uses horizontal or vertical bars to represent data. Bars provide a visual display for comparing quantities in different categories or groups.
  • Line Graph can be used to display changes in sales from 2011-2016.
  • A financial audit report is an example of textual method of presenting data.

Which of the following has a mean of 25

  • 10, 20, 30, 30, 40
  • 11, 22, 29, 30, 33
  • 14, 22, 29, 30, 32
  • 12, 22, 29, 30, 34

What can you say about the distribution's skewness given the following data Mean=20 Mode = 10 Median=15

  • The distribution is negatively skewed
  • The distribution is positively skewed
  • The distribution is abnormal
  • The distribution is normal

Which is equivalent to Q2

  • D4
  • D2
  • P50
  • P75

Which statement is incorrect?

  • statistic is a datum that can be represented numerically
  • Statitics purely deals with mathematics
  • A probability is a number that reflects the chance or likelihood that a particular event will occur
  • Standard deviation is the aquare root of the variance

Office Address

  • Quantitative
  • Qualitative

This exists to guide business decisions by providing insight about competitors, products and customers. this statement describes the use of statistics in the field of

  • Cost Management
  • Marketing Research
  • Financial Management
  • Quality Control

This is a method that simultaneously examines the effect of two factors on the dependent variable, along with the effects of interactions between the different levels of these two factors.

  • 2-way ANOVA with replication
  • one-way ANOVA
  • 2-way ANOVA without Replication
  • ANCOVA

If you will be tossing a coin first then you will roll a dice. What is the probability of getting a head and a number 4?

  • 0.05
  • 0.23
  • 0.0833
  • 0.78

This sampling technique is used when the researcher does not have the data regarding the population

  • Stratified sampling
  • accidental sampling
  • random sampling
  • snow-ball sampling

It is the process of extracting relevant information from presented data using statistical methods and procedures

  • Collection
  • Presentation
  • Interpretation
  • Analysis

Age

  • Qualitative
  • Quantitative

The following are the stock prices of FPL Co. from October 9-15

  • 7.75
  • 7.69
  • 7.97
  • 7.50

The test is applied when you have two categorical variables from a single population. It is used to determine whether there is a significant association between the two variables.

  • Chi-square Test for Goodness of Fit
  • Chi-square Test for Independence
  • T-test
  • z-test

Which statement is false? [2]

  • Negative Binomial Distribution– Probability that it will take exactly n trials to produce exactly x successes
  • Poisson Distribution – Probability of exactly x successes in a “unit” or discrete interval
  • Binomial Distribution – Probability of exactly x successes in n trials
  • Hypergeometric Distribution – Probability of exactly x successes in a sample of size n drawn without replacement

Which of the following statements best describes descriptive statistics

  • The financial manager analyzed the sales from January to October, he then made a sales forecasts for the months of November and December.
  • A researcher made a survey study about the demand of a certain product. Later on, he concluded that the demand is inelastic.
  • The auditor performed a statistical sampling of material company transactions to test audit assertions. Later on, he inferred that the financial statements are fairly stated.
  • The financial manager took the total sales data of the company from January to December of 2016. After that, he computed for the average monthly sales.

A researcher was assigned to obtain respondents from a certain municipality, he was tasked to determine the reaction of residents' of a certain municipality regarding the proposed increase in monthly pension of retired people. He was told to have 200 female and 300 male respondents between the age of 45 and 60. What is the sampling method used by the researcher?

  • Cluster sampling
  • multi-stage sampling
  • Stratified Sampling
  • Quota sampling

You are in a game and you will choose one briefcase out of five. The following amounts are inside the briefcases 1,000,000; 500,000; 100,000; 50,000, 20,000. You will be going home with the amount inside your chosen briefcase. What is the probability that you will go home with at least 50,000?

  • 0.4
  • 0.2
  • 0.6
  • 0.8

Analyze the situation given and tell whether the situation will make use of Descriptive or Inferential Statistics: The manager computes the average income in a week.

  • Descriptive Statistics
  • Inferential Statistics

Find the margin of error used if sample size computed is 50 at and population is 100.

  • 0.1
  • none of these
  • 0.05
  • 0.01

If sample size is 5,000, when margin of error is 1%, what is the size of the population?

  • 10,000
  • 500,000
  • 100,000
  • 50,000

A new fertilizer has been developed to increase the yield on crops, and the makers of the fertilizer want to better understand which of the three formulations (blends) of this fertilizer are most effective for wheat, corn, soy beans and rice (crops). They test each of the three blends on one sample of each of the four types of crops. After that, they repeated the experiment for 5 times in order to ensure that the results are consistent. What statistical method can be best used in the situation?

  • ANCOVA
  • Two-way ANOVA without replication
  • Two-way ANOVA with replication
  • one-way ANOVA

In regression, the equation that describes how the response variable Yes is related to the explanatory variable (x) is:

  • none of these
  • The correlation model
  • used to compute the correlation coefficient
  • The regression model

If the probability that x ≥ 6 is 10%. What is the probability that x<6?

  • 10%
  • 90%
  • 1%
  • 9%

Average Monthly Expense

  • Qualitative
  • Quantitative

Which is incorrect?

  • A probability is a number that reflects the chance or likelihood that a particular event will occur.
  • Circular permutation formula is P=(n-1)!
  • Combination refers to the arrangement of objects without reference to order.
  • Premution refers to the arrangement of objects with reference to order.

Which of the following is a continuous random variable?

  • none of these
  • Number of equipment bought
  • Number of customers
  • Number of employees

The current foreign exchange rate is USD 1 = Php 45. Assuming that the probability that the rate will be 1 USD = Php 40 is 0.7, and the probability that it will be USD 1= Php 46 is 0.2, the probability that it will remain the same is 0.1. What is the expected foreign exchange rate rate? (Average)

  • 1 USD = Php40
  • 1 USD = Php43.2
  • 1 USD = Php43.67
  • 1 USD = Php41.7

In this type skewness, median is greater than the mode but less than the mean

  • none of these
  • Negatively Skewed
  • Positively Skewed
  • normal curve

What do you call a variable whose value is subject to variations due to chance. It can take on a set of possible different values, each with an associated probability.

  • qualitative variable
  • random variable
  • variance
  • quantitative variable

In our discussion, what is the third step in hypothesis testing?

  • Compare calculated vs tabulated value
  • Determine the Critical value
  • Select the test statistic and compute its value
  • Select the level of significance

If a group of data has a variance of 1000, what is the standard deviation?

  • 100
  • 31.62
  • 1.00
  • 101.31

Analyze the data and determine the kurtosis: 10, 20, 30, 40, 50

  • platykurtic
  • mesokurtic
  • leptokurtic

Identify the area where statistics is being applied: Business entities usually use statistical modeling for predicting budgets and capital expenditures based on the past data of the entity and other relevant variables considered.

  • Quality Control
  • Personnel Management
  • Marketing
  • Financial Planning

Which of the following is incorrectly evaluated

  • 10x9x8x9! = 261,273,600
  • 9!x3!x1!x0! = 2,177,280
  • 10!-9! = 1
  • 13! X 0! = 6,227,020,800

Given the following data, 10, 15, 10, 20, 15, 25, 10. What is the median?

  • 25
  • 20
  • 15
  • 52.5

Identify the area where statistics is being described: Statistics is used in deciding whether to accept, reject or rework a certain product.

  • Marketing
  • Inventory Management
  • Financial Planning
  • Quality Control

Identify the the basic form of probability sampling

  • Fundamental sampling
  • simple random sampling
  • convenience sampling
  • accidental sampling

In an ANOVA result, if p value is equal to 0.54 and α is equal to 0.10. We must

  • Accept Null Hypothesis
  • Do not accept nor reject any hypothesis
  • Reject Null Hypothesis
  • Accept Alternative hypothesis

Which statement is false?

  • An example of discrete probability distribution is binomial probability distribution
  • In a discrete probability distribution, each possible value of the discrete random variable can be associated with a non-zero probability.
  • Continuous probability distribution is an infinite probability distribution used to find probability for a counatble of values.
  • A random variable can be classified in two types.

A process by which we estimate the value of dependent variable on the basis of one or more independent variables is called:

  • Slope
  • finding the value of X
  • correlation
  • Regression

This is prefered to be used when handling samples which are greater than or equal to 30.

  • t-test for unequal variances
  • z-test
  • t-test for equal variances
  • t-test for paired distribution

The company has 3 delivery vans. In how many ways can the vans be parked in a row?

  • 3
  • 6
  • 120
  • 12

There are 52 cards in an ordinary deck of cards. If you will be drawing one card. What is the probability that it is a heart or a spade?

  • 1
  • 0.25
  • 0
  • 0.5

A normal deck of playing cards consists of 52 cards. If you will draw one card, what is the probability that you can get a black card?

  • 1
  • 0.25
  • 0.5
  • 0.02

The average number of homes sold by the a realty company is 2 homes per day. What is the probability that greater than 3 homes will be sold tomorrow?

  • 0.14
  • 0.80
  • 0.86
  • 0.28

Brand Name

  • Quantitative
  • Qualitative

Classify: Data gathered from interview

  • Secondary
  • Primary

When you toss a coin for 10 times, what is the probability that you will get exactly 5 heads?

  • 0.30
  • 0.35
  • 0.25
  • 0.40

If the probability that x = 6 is 25%, what is the probability that x will not be equal to 6?

  • 25%
  • 55%
  • 65%
  • 75%

If the probability that x ≤ 20 is 65% and the probability that x<20 is 20%, what is the probability that x≠20?

  • 35%
  • 45%
  • 85%
  • 55%

The standard deviation is a measure of ___________ of a frequency distribution?

  • variability
  • central tendency
  • normality
  • Shape

Which is incorrect? [2]

  • (5P3)/(2C2)=60
  • (5P5)/5=24
  • 5C0=0
  • 6C4=15

Given the following data 10, 20, 30, 40, 50. Find the sample variance.

  • 200
  • 250
  • 50
  • 10

In how many ways can you arrange 5 people in a circle?

  • 120
  • 25
  • 24
  • 60

0! is equal to

  • 1
  • -1
  • undefined
  • 0

Using stratified random sampling, you need obtain 300 samples from a community consisting of 2,000 individuals belonging to different income brackets. 300 individuals belong to the high income earners; 1200 are average income earners; and 500 are low-income earners. How many samples will you obtain from the group of low-income earners?

  • 100
  • 45
  • 180
  • 75

Classfy: Monthly Salary

  • Categorical
  • Numerical

This used to test the significance of the difference between means of two or more sets of data simultaneously.

  • Z-test
  • T-test
  • ANOVA
  • correlation

Analyze the situation and identify what type of distribution function to be used. When you venture into a business for 5 times, what is the probability that you will get make profit for 3 times?

  • Hypergeometric
  • Normal
  • Negative Binomial
  • Binomial

Evaluate 55!

  • 126.96 x 10^73
  • 12.696 x 10^73
  • 1.2696 x 10^73
  • 12696

A new fertilizer has been developed to increase the yield on crops, and the makers of the fertilizer want to better understand which of the three formulations (blends) of this fertilizer are most effective for wheat, corn, soy beans and rice (crops). They test each of the three blends on one sample of each of the four types of crops. What statistical method can be best used in the situation?

  • One-way ANOVA
  • Two-way ANOVA without replication
  • All of these
  • Two-way ANOVA with replication

In a normal distribution,

  • the random variable x is in a possitively skewed distribution
  • the random variable x follows an exponential pattern
  • the random variable x follows an normal pattern
  • the random variable x is normally dispersed with the mean and variance

Classify: Data gathered from magazines

  • Secondary
  • Primary

When you are dealing with a very large population such as the total residents of the Philippines, which sampling technique can be best used?

  • Multi-stage Sampling
  • Stratified Sampling
  • Snow-ball Sampling
  • Cluster Sampling

If the correlation coefficient is a positive value, then the slope of the regression line

  • can be zero
  • can be either negative or positive
  • must also be positive
  • cannot be zero

This examines two or more independent samples based on an individual characteristic to determine whether their population means could be equal by comparing their variability between groups and within groups.

  • ANCOVA
  • 2-way ANOVA
  • one-way ANOVA
  • 2-way ANOVA without Replication

Which statement is true?

  • Hypergeometric Distribution – Probability of exactly x successes in a sample of size n drawn with replacement
  • Binomial Distribution – Probability of exactly x successes in n trials
  • Poisson Distribution – Probability of exactly x successes in a “unit” or discrete interval
  • Negative Binomial Distribution– Probability that it will take exactly n trials

The average sugar intake of a person is 80 grams per day, with a standard deviation of 5 grams. What is the probability that a randomly chosen person has greater than 75 grams of sugar intake per day?

  • 0.38
  • 0.16
  • 0.28
  • 0.84

It is used when the relationship between two or more variables in the problem is believed to be greater than, lesser than, at most, at least, maximum and minimum

  • Two-tailed test
  • Three-tailed test
  • Four-tailed test
  • One-tailed test

If the value of mean, median and mode are equal, the distribution is said to be

  • Positively skewed
  • mesokurtic
  • normal
  • platykurtic

Years of experience

  • Quantitative
  • Qualitative

Which statement is false

  • The one-way ANOVA examines two or more independent samples based on one characteristic.
  • Two-way ANOVA is the most basic form of the factorial experiment, one in which there are two or more factors and the treatments represent all possible combinations of their levels.
  • In two-way ANOVA, the data must be balanced and factors must be fixed.
  • ANOVA is a method of multiplying the variation observed in experimental data into different parts, each part assignable to a known source, cause or factor.

Identify the probability distribution being described by the statement below What is the probability of having exactly 7 tails before 8 heads?

  • hypergeometric distribution
  • negative binomial distribution
  • poisson distribution
  • binomial distribution

Type of Business

  • Quantitative
  • Qualitative

This is the science of good decision making in the face of uncertainty and is used in many disciplines such as financial analysis, econometrics, auditing, production and operations including services improvement, and marketing research.

  • Economic Statistics
  • Business Statistics
  • Vital Statistics
  • Financial Statistics

Classify: Brand Name

  • Numerical
  • Categorical

Identify a business-related activity which involves experimental method of data collection

  • Interview of customers
  • Market observation
  • Test market
  • Sales data collection

Compute for the sample size, given the following data: Population = 1000, margin of error 10%.

  • 100
  • 199
  • 99
  • 91

In an employment exam, 3 applicants got a score of 21-30 while 4 applicants got 31-40. What is the median class?

  • 31.75
  • 1-20
  • 31-40
  • 21-30

What can you infer from the following data, 10, 15, 10, 20, 15, 25, 10.

  • The distribution is mesokurtic
  • none of these
  • The distribution is leptokurtic
  • The distribution is platykurtic

You have two Php 20 bills and three Php 50 bills on your poket. If you will be drawing 2 bills in your pocket, what is the probability that you can get at least Php 40?

  • 1
  • 0.5
  • 0.2
  • 0.6

Identify the technique where samples are chosen only when the researcher meets them by chance

  • convenience sampling
  • incidental sampling
  • accidental sampling
  • Chansing Sampling

If both variables X and Y increase or decrease simultaneously, then the coefficient of correlation will be:

  • Negative
  • Positive
  • Zero
  • One

This is a is a statistical measure that is frequently used to indicate the probability of a specific number of successes occurring from a specific number of independent trials.

  • Binomial Distribution
  • Hypergeometric Distribution
  • Negative Binomial Distribution
  • Poisson Distribution

Tell whether Descriptive or Inferential Statistics: The production manager tests if the products are okay by getting samples from the total products manufactured. Later on, he concluded that the products are not okay and needs d to be repaired.

  • Descriptive Statistics
  • Inferential Statistics

If there are 20 students currently enrolled BSBA-MIS. In how many ways can elect a president and vice president?

  • 190
  • 40
  • 400
  • 380

Variance refers to

  • the height of the probability curve
  • the likelihood that the mean is accurate
  • the likelihood that the scatter is due to chance
  • the spread or scatter of the distribution of data

In regression analysis, the variable that is being predicted is the

  • intervening variable
  • response, or dependent variable
  • independent variable
  • is usually x

Mr. P, a researcher of the National Internal Revenue, was tasked to make a research regarding open tax cases of businesses from the 18 regions of the country. He selected 3 provinces on each region. After that, he selected 3 municipalities from each province. From each of the municipalities, he draws 10 registered businesses systematically from their list. What is the sampling method used by Mr. P?

  • Systematic Sampling
  • Cluster Sampling
  • Multi-stage Sampling
  • Stratified Sampling

This is used to draw generalizations, interpretations or conclusions about the properties or characteristics by a large group of people, places or things on the basis of the information obtained from a portion of a whole.

  • Business Statistics
  • Inferential Statistics
  • Descriptive Statistics

You want to find the most popular brand of cologne used by employees. What is the most appropriate measure to be used?

  • mean
  • range
  • median
  • mode

Analyze the data and determine whether it is positively skewed or negatively skewed: Mean = 10, Median = 30, Standard deviation 20

  • Positively Skewed
  • Negatively Skewed

Among the measures of central tendency, which is easily affected by extreme values?

  • mean
  • median
  • quantiles
  • mode

If you flip a coin twice, what is the probability of getting at least one tail?

  • 0
  • 0.75
  • 0.25
  • 0.5

Which of the following is not included in the group?

  • tabular method
  • virtual method
  • graphical method
  • textual method

The main purpose of descriptive statistics is to:

  • None of these
  • Determine if the data adequately represents the population
  • Estimate a population characteristic based on a sample
  • Summarize data in a useful and informative manner

If the distribution has a kurtosis value which is equal to zero. The distribution is said to be

  • Mesokurtic
  • Leptokurtic
  • Semikurtic
  • Platykurtic

Tell whether Descriptive or Inferential Statistics: The engineer calculates the average height of buildings in a city.

  • Inferential Statistics
  • Descriptive Statistics

Euler's number is equal to

  • 2.71828
  • 2.8128
  • 2.3126
  • 2.6803

You have two Php 20 bills and three Php 50 bills on your poket. If you will be drawing 2 bills in your pocket, what is the probability that you can get at a total of Php 150?

  • 1
  • 0.4
  • 0.6
  • 0
  • The answer is zero (0)

Which statement is false? [5]

  • The graphical method is considered as the most effective way of presenting data in because important relationships are brought out more clearly and creatively.
  • Pie Chart is used to show all parts related to a whole. It is usually represented by a square divided at various sizes, where each part represents a percentage.
  • The most important advantage of tabulation is that it organizes data for further statistical treatment and decision making.
  • The advantage of textual method of presenting data is that, it can give a more comprehensive approach because of the expounded explanations.

Identify the area where statistics is being described: Statistics provide useful information on how much goods should be kept and how much can be possibly sold at a certain period of time.

  • Quality Control
  • Marketing
  • Financial Planning
  • Inventory Management

Classify: Data gathered from company files

  • Primary
  • Secondary

With a 0.5 probability of success in each of your 5 business investments, what is the probability that you will make profit in exactly 2 of your investments?

  • 41.5%
  • 20.69%
  • 31.25%
  • 25.5%

If the probability that x ≥ 10 is 65% and the probability that x=10 is 20%, what is the probability that x≠10?

  • 75%
  • 55%
  • 80%
  • 25%

Find the population used if sample size computed is 90 at 10% margin of error

  • none of the above
  • 999
  • 569
  • 900

Statement 1. Factorial notation is the result of multiplying a sequence of descending numbers. Statement 2. Combination refers to the arrangement of objects with reference to order.

  • Both statements are true
  • Statement 1 is true; Statement 2 is false
  • Statement 1 is false; Statement 2 is true
  • Both statements are false

Classify: Years of Experience

  • Categorical
  • Numerical

___________assigns a probability to each measurable subset of the possible outcomes of a random experiment, survey, or procedure of statistical inference.

  • Probability Distribution
  • Probability of an Event
  • Random Probability Value
  • Quantitative Data

What will be your decision if the p value is less than the level of significance used?

  • Accept Null Hypothesis
  • Do not accept the Alternative hypothesis
  • Do not accept nor reject any hypothesis
  • Reject Null Hypothesis

Classify: Height

  • Numerical
  • Categorical

The correlation coefficient is used to determine:

  • A specific value of the y-variable given a specific value of the x-variable
  • none of these
  • The strength of the relationship between the x and y variables
  • A specific value of the x-variable given a specific value of the y-variable

Which statement is false? [8]

  • Dependent variable is a variable that is affected or influenced by another variable.
  • Primary data can be obtained from sources such as personal interviews, questionnaires, books, observation and experimentation results
  • Categorical data may pertain to civil status, address and brand names.
  • A parameter is the numerical characteristic of the population

Classify: Taxable Income

  • Numerical
  • Categorical

Classify: Data gathered from experiment

  • Secondary
  • Primary

Identify the technique in which a researcher studies the social process as they happen in the field.

  • Experimental Method
  • Observation Method
  • Questionnaire Method
  • Registration Method

Three different sale closing methods were used. Three groups of four salespeople were randomly chosen. Each group was instructed to use only one of the closing methods for all of their sales. Sales totals of each salesperson over the next two weeks were collected. What statistical method can be best used in the situation?

  • One-way ANOVA
  • All of these
  • Two-way ANOVA with replication
  • Two-way ANOVA without replication

Suppose that the amount of time one spends in a bank is exponentially distributed with mean 10 minutes, ? = 1/10. What is the probability that a customer will spend at most 15 minutes in the bank?

  • 0.04
  • none of these
  • 0.75
  • 0.78

Null Hypothesis: There is no significant difference between the age and income level of employees under the entertainment industry.

  • Type II Error
  • Type I Error
  • Beta Error
  • Type 3 Error

Ten people took an employment exam, the following are their scores from a 50-item test

  • 9.04
  • 90.72
  • 81.65
  • 9.52

Occupation

  • Quantitative
  • Qualitative
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