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Exam Questions: Quantitative Analysis II - February 1995, Exams of Business Statistics

Questions from an exam in quantitative analysis ii held on february 15, 1995. The questions cover various topics such as sales analysis, longitudinal data analysis, exchange rates, and statistical analysis. Students are required to answer multiple-choice questions related to these topics.

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Exam 1 Feb. 15, 1995, Quant II Form A
Name: ______________________________________________________________________
ID: ____________________
Section: ________________
The exam questions and answer sheet are both to be turned in to your Discussion Section instruc-
tor at the end of the exam.. Please mark all of your answers on the answer sheet using a #2 pencil.
Write your name and code your ID number and Section number on the answer sheet.
1. Sales this month decreased 15% from last month to 100 million dollars. What were sales last
month (to the nearest million)?
A) 87
B) 100
C) 115
D) Cannot be determined from the information given.
E) None of the above.
2. When analyzing longitudinal data, the first thing to do is:
A) display and examine a sequence plot of the data.
B) construct and examine a flow chart for the process.
C) brainstorm and display a Cause-and-Effect diagram of the data.
D) construct and analyze a Pareto diagram
E) use Deming’s Process Diagram to analyze the process.
3. According to Deming’s 14 points of management suppliers should be selected on the basis of
lowest cost.
A) True B) False
4. Seasonal patterns can best be found in longitudinal data using the tool:
A) Pareto diagram
B) Cause-and-Effect diagram
C) Flow diagram
D) Conformance analysis
E) Sequence plot with special plotting symbols.
Q
II
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Download Exam Questions: Quantitative Analysis II - February 1995 and more Exams Business Statistics in PDF only on Docsity!

Exam 1 Feb. 15, 1995, Quant II Form A

Name: ______________________________________________________________________ ID: ____________________ Section: ________________ The exam questions and answer sheet are both to be turned in to your Discussion Section instruc- tor at the end of the exam.. Please mark all of your answers on the answer sheet using a #2 pencil. Write your name and code your ID number and Section number on the answer sheet.

  1. Sales this month decreased 15% from last month to 100 million dollars. What were sales last month (to the nearest million)? A) 87 B) 100 C) 115 D) Cannot be determined from the information given. E) None of the above.
  2. When analyzing longitudinal data, the first thing to do is:

A) display and examine a sequence plot of the data. B) construct and examine a flow chart for the process. C) brainstorm and display a Cause-and-Effect diagram of the data. D) construct and analyze a Pareto diagram E) use Deming’s Process Diagram to analyze the process.

  1. According to Deming’s 14 points of management suppliers should be selected on the basis of lowest cost. A) True B) False
  2. Seasonal patterns can best be found in longitudinal data using the tool:

A) Pareto diagram B) Cause-and-Effect diagram C) Flow diagram D) Conformance analysis E) Sequence plot with special plotting symbols.

Q

II

  1. A customs agent rolls an ordinary die as each traveler arrives at the customs station. If the die comes up 6 the traveler’s luggage is searched thoroughly. Otherwise, the traveler is allowed to pass without a thorough search. Which one of the following is correct? A) One out of every 6 travelers receives a thorough search. B) After many travelers have gone through customs, about 60% of them will have been sub- jected to a thorough search. C) After many travelers have gone through customs, about 12.5% of them will have been sub- jected to a thorough search. D) Five out of every six travelers is allowed to pass without a thorough search. E) None of the above.
  2. There are 150 women in a group of college graduates. Another group consists of 800 women who ended their education after graduating from high school. Which of the following tools would be best suited for comparing the distributions of starting salaries for the two groups? A) Pareto diagrams B) dotplots C) stem-and-leaf diagrams D) frequency histograms E) relative frequency histograms
  3. Currently, 5 Mexican pesos equal one U.S. dollar. If the price of corn increases 10% as measured in pesos, what is the percentage increase when measured in U.S. dollars? A) 5% B) 10% C) 50% D) 100% E) Cannot be determined from the information given.
  4. The collection of heights of a group of adults would be best described as:

A) longitudinal data on a categorical variable. B) cross-sectional data on a categorical variable. C) longitudinal data on a continuous variable. D) cross-sectional data on a continuous variable. E) data with both longitudinal and cross-sectional aspects.

  1. A dataset of 23 values of a variable has a mean of 10.8 and a standard deviation of 3.2. The third data value is 9.2. What is the value of the deviation from the mean for this third data value? A) (9.2−10.8)/3. B) (9.2−10.8)^2 C) (9.2−10.8)^2 / D) (9.2−10.8)^2 / E) (9.2−10.8)
  2. Incomes were reported in whole thousands of dollars. The histogram of the incomes is shown below. Based on the histogram, what percent of incomes are above 17 thousand dollars? Histogram of Income N = 10

Midpoint Count 10.00 1 * 15.00 5 ***** 20.00 3 *** 25.00 1 * A) 10 B) 20 C) 30 D) 40 E) None of the above.

  1. A designed study is one in which the elements are chosen by a randomization device.

A) True B) False

  1. Outliers (extreme observations large or small) affect the following:

I. The median II. The interquartile range III. The quartiles A) I and II only B) II and III only C) I and III only D) I, II, and III E) None of the above.

  1. For any set of data, the sum of the deviations from the mean is zero.

A) True B) False

  1. A histogram based on many narrow class intervals will fail to show the overall pattern in a distribution. A) True B) False
  2. A skewed distribution has left and right sides that are mirror images of one another.

A) True B) False

  1. Which of the following tools are designed for longitudinal analysis?

I. Pareto diagram II. Cause-and-Effect diagram III. Sequence plot A) I only B) II only C) III only D) I, II, and III E) None of the above.

  1. Outliers (extreme observations large or small) affect the following:

I. The mean II. The range III. The standard deviation A) I and II only B) II and III only C) I and III only D) I, II, and III E) None of the above.

  1. Which of the following are categorical variables?

I. gender II. age III. eye color A) I and II only B) II and III only C) I and III only D) I, II, and III E) None of the above.

  1. A sequence plot of 5 years of monthly data is shown below. Which of the following best describes the plot?
  2. A sequence plot of 5 years of monthly data is shown below. Which of the following best describes the plot?

0 10 20 30 40 50 60

30

25

20

Series Values

Month

L JK

I EFGH D C AB L

K

IJ H FG DE C LAB JK

I H

G

F E D C B LA K

IJ H EFG D C AB L JK

HI

FG E D C B A

A=Jan, B=Feb, C=Mar, D=Apr,... I=Sep, J=Oct, K=Nov, L=Dec

A) random B) meandering C) seasonal D) straight-line trend E) straight-line trend plus seasonal

0 10 20 30 40 50 60

27 26 25 24 23 22 21 20 19

Series Values

Month

KL J GHI F

E CD B

A KL

J GHI CDEF B

LA K GHIJ

F CDE JKLAB GHI CDEF KLAB HIJ

G CDEF B

A

A=Jan, B=Feb, C=Mar, D=Apr,... I=Sep, J=Oct, K=Nov, L=Dec

A) random B) meandering C) seasonal D) straight-line trend E) straight-line trend plus seasonal

  1. A sequence plot of 5 years of monthly data is shown below. Which of the following best describes the plot?
  2. A sequence plot of 5 years of monthly data is shown below. Which of the following best describes the plot?

0 10 20 30 40 50 60

Series Values

Month

L

K J

I

GH

F

E

D C

B A

L

K

J

I

H

G

F

E

CD B

A

L

K

J

I

H FG

E

D

C

B A

L

K

J I

H

G

CDEF

B A L

K

J

I

H

G

F

E

CD

B

A

A=Jan, B=Feb, C=Mar, D=Apr,... I=Sep, J=Oct, K=Nov, L=Dec

A) random B) meandering C) seasonal D) straight-line trend E) straight-line trend plus seasonal

0 10 20 30 40 50 60

24 23 22 21 20 19 18 17 16

Series Values

Month

KL IJ H

G

DEF BC LA IJK GH

F E

ABCD L

K J

HI CDEFG B

A

KL

HIJ G

EF

CD LAB

JK

EFGHI CD B

A

A=Jan, B=Feb, C=Mar, D=Apr,... I=Sep, J=Oct, K=Nov, L=Dec

A) random B) meandering C) seasonal D) straight-line trend E) straight-line trend plus seasonal