Question 80

Sage, Inc has 20 employees who each earn $ 100 per day and are paid every Friday. The end of the accounting period is on a Wednesday.

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(a) $2,000

(b) $1,000

(c) $0

(d) $6,000

Question 81

Testing the probability of a relationship between variables occurring by chance alone if there really was no difference in the population from which that sample was drawn is knows as:

(a) Multiple regression analysis.

(b) Chi-squared test.

(c) Correlation coefficient.

(d) Significance testing.

Question 82

A Type II error is defined as ________.

(a) Rejecting a true null hypothesis

(b) Rejecting a false null hypothesis

(c) Not rejecting a true null hypothesis

(d) Not rejecting a false null hypothesis

Question 83

The numbers of rooms for 15 homes recently sold were (mean=7.4):8,8,8,5,9,8,7,6,6,7,7,7,7,9, and 9. What is the variance?

(a) 1.183

(b) 1.4

(c) 4

(d) 16

(e) 1.96

Question 84

Which of the following is an Excel add-in for simulation?

(a) Precision tree

(b) TopRank

(c) BestFit

(d) @Risk

(e) Riskview

Question 85

ANOVA is:

(a) A government body which collects social statistics.

(b) A two-way analysis variance.

(c) The Name of a statistical software package.

(d) A one-way analysis of variance.

Question 86

Which of the following statements are false?

(a) The modeling process discussed in Data analysis & Decision making book is a five-step process.

(b) Dealing with uncertainty requires a basis understanding of probability.

(c) Uncertainty is a key aspect of most business problems.

(d) Data description and data inference are included under data analysis.

Question 87

In a criminal trial, a type II error is made when__________.

(a) A guilty defendant is acquitted

(b) An innocent person is convicted

(c) A guilty defendant is convicted

(d) An innocent person is acquitted

Question 88

What is the name of the test that is used to assess the relationship two ordinal variables?

(a) Spearman’s rho.

(b) Phi.

(c) Cramer’s V.

(d) Chi square.

Question 89

Which one of the following would be considered a state of nature for a business firm?

(a) Inventory levels.

(b) Salaries for employees.

(c) Site for a new plant.

(d) Worker safety laws.

Question 90

The number of miles a truck is divine before it is overhauled is an examples of a(n)_______variable.

(a) Nominative

(b) Ordinal

(c) Interval

(d) Ratio

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