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11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 1/13 Home / My courses / Accounting / Winter 2022 / Accounting Online Winter 2022 / CSAC2320-035-O-W22 / Individual Test #1 Time left 0:37:46 Question 1 Not yet answered Marked out of 1.00 Question 2 Not yet answered Marked out of 1.00 CSAC2320 Statistical Methods in Business & Accounting - Online Winter 2022 Dr. Thomas graduated from West Virginia University with a code value = 1 while Professor Harrison graduated from the Marshall University with a code value = 2. The scale of measurement likely represented by this information is: Select one: a. ratio. b. nominal. c. ordinal. d. interval. Clear my choice If A and B are independent events with P ( A ) = 0.20 and P ( B ) = 0.60, then P ( A | B ) is: Select one: a. 0.80 b. 0.40 c. 0.60 d. 0.20 Clear my choice
11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 2/13 Question 3 Not yet answered Marked out of 1.00 Question 4 Not yet answered Marked out of 1.00 Question 5 Not yet answered Marked out of 1.00 There are 15 professors in the School of Continuing Studies. Twelve of them have received good evaluations from students, while 3 received poor evaluations. You will take three courses in the School of Continuing Studies next semester. What is the probability that all of your professors next semester have received good evaluations? Select one: a. 0.516 b. 0.258 c. 0.484 d. 0.242 Clear my choice Which of the following statements involve descriptive statistics as opposed to inferential statistics? Select one: a. The Alcohol, Tobacco and Firearms Department reported that Seattle had 1,825 registered gun dealers in 2013. b. The FAA samples 425 traffic controllers in order to estimate the percent retiring due to job stress related illness. c. Based on a sample of 350 professional baseball players, a baseball magazine reported that 23% of the parents of all professional baseball players did not play baseball. d. Based on a survey of 380 magazine readers, the magazine reports that 30% of its readers prefer double column articles. Clear my choice A hospital finds that 20% of its accounts are at least 60 days in arrears. A random sample of 500 accounts was taken. What is the probability that fewer than 120 accounts in the sample were at least 60 days in arrears? Select one: a. 0.9875 b. 0.5125 c. 0.4875 d. 0.0125 Clear my choice
11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 3/13 Question 6 Not yet answered Marked out of 1.00 Question 7 Not yet answered Marked out of 1.00 Question 8 Not yet answered Marked out of 1.00 Checkout times in a grocery store follow the exponential distribution with a mean time of 6.5 minutes. What is the probability that the checkout time (T) for the next customer will be less than 5 minutes? Select one: a. 0.257 b. 0.950 c. 0.537 d. 0.463 Clear my choice The strength of the linear relationship between two numerical variables may be measured by the: Select one: a. third quartile. b. interquartile range. c. correlation coefficient. d. coefficient of variation. Clear my choice Suppose you are told that sales this year are 30% higher than they were six years ago. What has been the average annual increase in sales over the past six years? Select one: a. 3.5% b. 4.5% c. 5.0% d. 4% Clear my choice
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11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 4/13 Question 9 Not yet answered Marked out of 1.00 Question 10 Not yet answered Marked out of 1.00 Question 11 Not yet answered Marked out of 1.00 Over the past 10 years, the return on Stock A has averaged 8.4% with a standard deviation of 2.1%. The return on Stock B has averaged 3.6% with a standard deviation of 0.9%. Which of the following statements is true? Select one: a. Both stocks exhibit the same relative variation. b. Stock B has smaller relative variation than Stock A. c. Stock A has smaller relative variation than Stock B. d. Unable to tell with the given information. Clear my choice A variable that can take on a finite and countable number of values is a ________ variable. Select one: a. qualitative b. discrete c. Poisson d. continuous Clear my choice On average, there are 3.2 defects in a sheet of rolled steel. Assume that the number of defects follows a Poisson distribution. What is the probability of having exactly three defects in a roll? Select one: a. 0.335 b. 0.223 c. 0.412 d. 0.318 Clear my choice
11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 5/13 Question 12 Not yet answered Marked out of 1.00 Question 13 Not yet answered Marked out of 1.00 Question 14 Not yet answered Marked out of 1.00 Anita collected a data set on the weights (to the nearest pounds) of all students at her university. The best graph to describe this data is a: Select one: a. bar chart b. scatter plot c. pie chart d. histogram Clear my choice In an office of 18 people, there are 7 men and 11 women. A subcommittee of four people will be formed from this group. What is the probability that the subcommittee contains two men and two women? Select one: a. 0.755 b. 0.261 c. 0.377 d. 0.522 Clear my choice In an office of 18 people, there are 7 men and 11 women. A subcommittee of four people will be formed from this group. How many different ways can you select four people from a group of 18? Select one: a. 1,584 b. 3,280 c. 1,386 d. 3,060 Clear my choice
11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 6/13 Question 15 Not yet answered Marked out of 1.00 Question 16 Not yet answered Marked out of 1.00 A measurement scale that rates product quality as either 1 = poor, 2 = average and 3 = good is known as: Select one: a. ordinal. b. ratio. c. nominal. d. interval. Clear my choice The length of time it takes to assemble a particular electronic component varies from one employee to another. Management has collected the time (in minutes) it took 20 different employees to assemble the component. The information is summarized in the following frequency distribution generated by Excel: Bin Frequency Cumulative % 10 1 5.00% 15 9 50.00% 20 1 55.00% 25 7 90.00% More 2 100.00% Which of the following statements is true? Select one: a. 50% of all the workers took exactly 15 minutes to assemble the component. b. Eleven workers assembled the component in 20 minutes or less. c. Seven workers took 25 minutes or longer to assemble the component. d. 100% of all the workers took longer than 25 minutes to assemble the component. Clear my choice
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11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 7/13 Question 17 Not yet answered Marked out of 1.00 Question 18 Not yet answered Marked out of 1.00 Question 19 Not yet answered Marked out of 1.00 A research project on retention at a large university indicated that 20% of the students had a problem with stress while 25% reported problems with financial resources and 15% had a problem with both. What is the probability that a particular student has a problem with either stress or financial resources? Select one: a. 0.60 b. 0.45 c. 0.30 d. 0.15 Clear my choice The probability that a person catches a cold during the cold and flu season is 0.4. Assume that 10 people are chosen at random. What is the probability that four or more of them will catch a cold? Select one: a. 0.715 b. 0.546 c. 0.618 d. 0.312 Clear my choice A fair coin is flipped 100 times. The probability of obtaining between 40 and 60 heads is approximately: Select one: a. 0.7518 b. 0.9544 c. 0.6826 d. 0.9973 Clear my choice
11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 8/13 Question 20 Not yet answered Marked out of 1.00 Question 21 Not yet answered Marked out of 1.00 Question 22 Not yet answered Marked out of 1.00 Investment A has an expected return of 8% with a standard deviation of 2.5%. Investment B has an expected return of 6% with a standard deviation of 1.2%. Assume you invest equally in both investments and that the rates of return are independent. What is the standard deviation of the return on your portfolio? Assume that the returns on the two investments are independent. Select one: a. 2.77 b. 6.25 c. 7.69 d. 2.50 Clear my choice A very large logging operation has serious problems keeping their skidders operating properly. The equipment fails at the rate of 3 breakdowns every 48 hours. Assume that x is time between breakdowns and is exponentially distributed. The probability of a single breakdown within 24 hours is: Select one: a. 0.2231 b. 0.9502 c. 0.0498 d. 0.7769 Clear my choice What type of graph does a stem-and-leaf resemble when turned vertically? Select one: a. histogram b. line chart c. scatter plot d. pie chart Clear my choice
11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 9/13 Question 23 Not yet answered Marked out of 1.00 Question 24 Not yet answered Marked out of 1.00 Question 25 Not yet answered Marked out of 1.00 Which of the following is an example of a discrete random variable? Select one: a. The weight of a package at the post office. b. The number of cows on a cattle ranch. c. The distance you can drive in a car with a full tank of gas. d. The amount of rain that falls over a 24-hour period. Clear my choice ________ is the continuous probability distribution used most often for economics and business applications. Select one: a. Incremental distribution b. Uniform distribution c. Normal probability distribution d. Exponential distribution Clear my choice Suppose you are told that the average return on investment for a particular class of investments was 7.8% with a standard deviation of 2.3. Furthermore, the histogram of the distribution of returns is approximately bell-shaped. We would expect that 95 percent of all of these investments had a return between what two values? Select one: a. 0.9% and 14.7% b. 3.2% and 12.4% c. 0% and 15% d. 5.5% and 10.1% Clear my choice
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11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 10/13 Question 26 Not yet answered Marked out of 1.00 Question 27 Not yet answered Marked out of 1.00 If the probability of occurrence of event A is not affected by the occurrence of event B, then A and B are said to be: Select one: a. basic events. b. mutually exclusive. c. statistically independent. d. collectively exhaustive. Clear my choice A recent marketing survey related consumers' awareness of a new marketing campaign with their rating of the product. Consumers rated their awareness as low, medium, or high, and rated the product as poor, fair, or good. The results are presented below: Awareness Low Medium High Rating Poor 0.1 0.15 0.07 Fair 0.06 0.11 0.06 Good 0.07 0.11 0.27 What is the probability that a consumer who ranked the product as fair had a high awareness of the ad campaign? Select one: a. 0.40 b. 0.26 c. 0.23 d. 0.06 Clear my choice
11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 11/13 Question 28 Not yet answered Marked out of 1.00 Question 29 Not yet answered Marked out of 1.00 Question 30 Not yet answered Marked out of 1.00 The standard deviation of the sample data 13, 14, 17, and 20 equals: Select one: a. 7.98 b. 3.16 c. 9.16 d. 2.74 Clear my choice You are the webmaster for your firm's web-site. From your records, you know that the probability that a visitor will buy something from your firm is 0.23. In one day, the number of visitors is 952. What is the probability that less than 200 of them will buy something from your firm? Use the normal approximation to the binomial. Select one: a. 0.0721 b. 0.5721 c. 0.9279 d. 0.4279 Clear my choice The manager of a local RV sales lot has collected data on the number of RVs sold per month for the last five years. That data is summarized below: # of Sales 0 1 2 3 4 5 6 # of Months 2 6 9 13 21 7 2 What is the weighted mean number of sales per month? Select one: a. 3.23 b. 3.62 c. 3.31 d. 3.54 Clear my choice
11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 12/13 Question 31 Not yet answered Marked out of 1.00 Question 32 Not yet answered Marked out of 1.00 Question 33 Not yet answered Marked out of 1.00 The amount of time you have to wait at a particular stoplight is uniformly distributed between zero and two minutes. What is the probability that you have to wait more than 30 seconds for the stoplight? Select one: a. 0.25 b. 1.01 c. 0.75 d. 0.50 Clear my choice A basketball player makes 80 percent of his free throws during the regular season. Consider his next eight free throws. What is the probability that he will make at least six free throws? Select one: a. 0.1468 b. 0.2936 c. 0.7969 d. 0.3355 Clear my choice A basketball player makes 80 percent of his free throws during the regular season. Consider his next eight free throws. What is the probability that he will make between four and six (inclusive) free throws? Select one: a. 0.6291 b. 0.1468 c. 0.4863 d. 0.4404 Clear my choice
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11/26/22, 1:54 PM Individual Test #1 https://learn.continue.yorku.ca/mod/quiz/attempt.php?attempt=274484&cmid=422473 13/13 INTELLECTUAL PROPERTY NOTICE Course materials presented on this website are designed for use as part of programs at the York University School of Continuing Studies and are the intellectual property of the York University School of Continuing Studies unless otherwise stated. Third party copyrighted materials (such as book chapters, journal articles, music, videos, etc.) have either been licensed for use in this course or fall under an exception or limitation in Canadian Copyright law. Copying this material for distribution (e.g. uploading material to a commercial third-party website) may lead to a charge of misconduct under York’s Code of Student Rights and Responsibilities and the Senate Policy on Academic Honesty and/or legal consequences for violation of copyright law. HOME COURSES STUDENT PORTAL PRIVACY & LEGAL Question 34 Not yet answered Marked out of 1.00 Question 35 Not yet answered Marked out of 1.00 Investment A has an expected return of 7.8% with a standard deviation of 2%. Investment B has an expected return of 7.2% with a standard deviation of 3.1%. Which stock is more likely to have a return greater than 10%? Select one: a. Stock B b. The probability is the same for both A and B . c. Stock A d. Unable to determine. Clear my choice Which measures of central location are not affected by extremely small or extremely large data values? Select one: a. geometric mean and arithmetic mean b. median and mode c. mode and arithmetic mean d. arithmetic mean and median Clear my choice