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Economic Exam Questions Course Code: HI5003

#### Q.1 If P(A|B) = .3 and P(B) = .8, then

a. P(A) = .24
b. P(B|A) = .7
c. P(A . B) = .5
d. P(A . B) = .24

Ans.d. P(A . B) = .24
Economic Exam Questions Course Code: HI5003

#### Q.2 Events that have no sample points in common are

a. independent events
b. posterior events
c. mutually exclusive events
d. Complements

Ans.c. mutually exclusive events
Economic Exam Questions Course Code: HI5003

#### Q.3. In a stem-and-leaf display,

a. a single digit is used to define each stem, and a single digit is used to define each leaf
b. a single digit is used to define each stem, and one or more digits are used to define each leaf
c. one or more digits are used to define each stem, and a single digit is used to define each leaf
d. one or more digits are used to define each stem, and one or more digits are used to define each leaf

Ans.c. one or more digits are used to define each stem, and a single digit is used to define each leaf
Economic Exam Questions Course Code: HI5003

#### Q.4. In quality control applications, bar charts are used to identify the most important causes of problems. When the bars are arranged in descending order of height from left to right with the most frequently occurring cause appearing first, the bar chart is called a

a. cause-and-effect diagram
b. Histogram
c. Pareto diagram
d. Ogive

Ans.c. Pareto diagram
Economic Exam Questions Course Code: HI5003

#### Q.5. The proper way to construct a stem-and-leaf display for the data set {62, 67, 68, 73, 73, 79, 91, 94, 95, 97} is to

a. exclude a stem labeled ‘8’
b. include a stem labeled ‘8’ and enter no leaves on the stem
c. include a stem labeled ‘(8)’ and enter no leaves on the stem
d. include a stem labeled ‘8’ and enter one leaf value of ‘0’ on the stem

Ans.b. include a stem labeled ‘8’ and enter no leaves on the stem
Economic Exam Questions Course Code: HI5003

#### Q.6. When the data are labels or names used to identify an attribute of the elements and the rank of the data is meaningful, the variable has which scale of measurement?

a. Nominal
b. Ordinal
c. Interval
d. Ratio

Ans.a. Nominal
Economic Exam Questions Course Code: HI5003

#### Q.7. Which of the following symbols represents the mean of the sample?

a. σ 2
b. σ
c. μ
d. x bar

Ans.d. x bar
Economic Exam Questions Course Code: HI5003

#### Q.8. Excel's ____ function can be used to compute the population standard deviation.

a. MAX
b. MODE
c. STDEV
d. None of the other answers are correct

Ans.c. STDEV
Economic Exam Questions Course Code: HI5003

#### Q.9. In a five-number summary, which of the following is not used for data summarization?

a. the smallest value
b. the largest value
c. the median
d. the mean

Ans.d. the mean
Economic Exam Questions Course Code: HI5003

#### Q. The collection of all possible sample points in an experiment is

1. the sample space
2. a sample point
3. an experiment
4. the population

Ans. the sample space
Economic Exam Questions Course Code: HI5003

#### Q.10. If A and B are independent events with P(A) = 0.2 and P(B) = 0.6, then P(A ∪ B) =

a. 0.62
b. 0.12
c. 0.60
d. 0.68

Ans.d. 0.68
Economic Exam Questions Course Code: HI5003

#### Q.11. A list of all possible outcomes of an experiment is called 0.6, then P(A ∪ B) =

a. the sample space
b. the sample point
c. the experimental outcome
d. the likelihood set

Ans.a. the sample space
Economic Exam Questions Course Code: HI5003

#### Q.12. Assume your favorite football team has 2 games left to finish the season. The outcome of each game can be win, lose or tie. The number of possible outcomes is

a. 2
a. 4
a. 6
d. None of the other answers is correct.

Ans.d. None of the other answers is correct.
Economic Exam Questions Course Code: HI5003

#### Q.13. A(n) ____ is a graph of a cumulative distribution.

a. Histogram
b. pie chart
c. stem-and-leaf display
d. Ogive

Ans.d. Ogive
Economic Exam Questions Course Code: HI5003

#### Q.14. Which scale of measurement can be either numeric or non-numeric?

a. Nominal
b. Ordinal
c. Interval
d. nominal and ordinal

Ans.d. nominal and ordinal
Economic Exam Questions Course Code: HI5003

#### Q.15. The numbers of hours worked (per week) by 400 statistics students are shown below. Number of hours Frequency 0 − 9 20 10 − 19 80 20 − 2 200 30 − 39 100 The cumulative percent frequency for the class of 30 − 39 is

a. 100%
b. 75%
c. 50%
d. 25%

Ans.a. 100% 