qbus 5001 quiz 答案

Final Exam Practice Quiz: QBUS5001 Quantitative Methods for Business 2020/11/24, 11:27 PM
Final Exam Practice Quiz

Due No due date Points 57 Questions 45 Time Limit None
Allowed Attempts Unlimited
Instructions
This practice final is prepared by a tutor of a similar unit during one of the recent runs of it.
Note: We provide it as just an indication of the level of difficulty in the actual final. The actual final
will have a different structure.
If you have questions about obtaining the correct answers please see your tutor.
The Excel file for this exam is below:
S18QBUS5002 Final Exam.xlsx
Take the Quiz Again
Attempt History
Attempt Time Score
LATEST Attempt 1 36 minutes 0 out of 57
Submitted Nov 24 at 23:25
Question 1 0 / 1 pts
Which of the following statements about the sampling distribution of

is incorrect?
https://canvas.sydney.edu.au/courses/27372/quizzes/121164 Page 1 of 30
Correct Answer
If a random sample of size n > 30 is taken from the binomial
distribution, then
approximately
If a random sample of size n>30 is taken from the Poisson

distribution, then approximately
If a random sample of size n>30 is taken from the Exponential
distribution, then approximately
You Answered None of the above
Which of the following statements about the Central Limit Theorem is

incorrect?
Correct Answer
The Central Limit Theorem applies to continuous random variables
only
You Answered
If X follows a normal distribution, we do not need to use the Central
Limit Theorem to approximate the distribution of the sample mean
If X has mean and variance then
approximately if
None of the above
Which of the following statements about hypothesis testing is

incorrect?
Correct Answer
The power of a hypothesis test is the event that the null hypothesis is
rejected given that the alternative hypothesis is correct
If the null hypothesis is rejected at the 5% level of significance, it

must also be rejected at 10% level of significance
The level of signifcance is the probability of committing a Type I

error in hypothesis testing
In a linear regression analysis, the parameter estimates are given in

the table below. Which of the following statements is incorrect?
Correct Answer
X1 and X3 must be removed from the regression analysis at the
same time in order to obtain a better regression model
X2 is probably the most important variable
X3 is probably the most unimportant independent variable
Unanswered
In a linear regression analysis, the parameter estimates are given in

the table below. Which of the following statements is incorrect?
Correct Answer The standard error of variable X1 is 3.70
Variable X2 is a significant independent variable at 1% level of

significance
Variable X4 is an insignificant variable at a 5% level of significance
None of the above
For Questions 6 - 27, use the data contained in worksheet "Q2".
Spreadsheet “Q2” contains a random sample of 100 pairs of (x,y)

values from the distributions of continuous random variables X and Y.
It is known that Y follows a normal distribution with unknown mean
and unknown variance. Use Excel to help you find the answers. Give
answers correct to 4 decimal places (as necessary).
If not otherwise specified, consider use a significance level of

5% for any hypothesis tests
Unanswered
Find the sample correlation coefficient between X and Y
You Answered
Correct Answers 0.7496 (with margin: 0)
Unanswered
Find the sample mean of X
You Answered
Unanswered Question 8 0 / 1 pts
Find the sample median of X
You Answered
Unanswered
Find the sample coefficient of variation for X
You Answered
Find the sample coefficient of variation for Y
You Answered
What value would you use to estimate the population mean of the
sample mean of 100 randomly selected y-values without bias?
You Answered
Find the lower bound of a 95% confidence interval for the population
mean of Y (to 2 dp)
You Answered
Find the upper bound of a 95% confidence interval for the population
mean of Y (to 2 dp)
You Answered
Consider a test at a 5% level of significance for whether there is

evidence that the population mean of Y is significantly different from
30.
What is the p-value for the population mean of Y?
You Answered
In Question 14, what is the appropriate conclusion for the test?
In Questions 16 - 27, consider a simple linear regression model using

Y as the dependent variable and X as the independent variable.
Perform a regression analysis and answer the following questions
using Data Analysis and/or Data Analysis Plus add-ins.
What is the estimated intercept term of this regression model?
You Answered
Unanswered
What is the estimated coefficient of X in this regression model?
You Answered
What is the value of the test statistic of the overall significance test of
the regression model? (Give to 2dp)
You Answered
Unanswered
What is the point estimate of the variance of the random error term of
the regression model? (to 2dp)
You Answered
What percentage of the total variation in the y values can be

explained by the regression model? (to 2dp)
You Answered
Unanswered
What is the correlation coefficient between the observed and

predicted y values?
You Answered
Unanswered
What is the lower bound of the 95% confidence interval of the slope
parameter of the regression equation?
You Answered
Unanswered
What is the upper bound of the 95% confidence interval of the slope
parameter of the regression equation?
You Answered
The y-values, and are
possible outliers. (Enter the smallest y-value first. Give to 2dp)
Answer 1:
You Answered (You left this blank)
Correct Answer 6.25
Answer 2:
Correct Answer 48.91
Unanswered
What are the lower and upper bounds (in that order) of the 95%
predictive interval for the y value when the value of X is 8? [
, ] (to 2 dp)
Answer 1:
Do the residuals follow a normal distribution? [ Select ]
Answer 1:
Correct Answer Yes
Unanswered
What was the p-value for the test performed in Question 26?
You Answered
A business analyst in an accounting firm would like to compare the

work efficiency of the permanent staff and contract staff. He randomly
selects 50 contract staff and 65 permanent staff and their work
efficiency scores are collected. Let X and Y be the scores of the
contract and permanent staff. It is assumed that
and
If it is assumed that the population variances are equal, what is the

value of the pooled estimate of the variance? (to 2 dp)
You Answered
A business analyst in an accounting firm would like to compare the

work efficiency of the permanent staff and contract staff. He randomly
selects 50 contract staff and 65 permanent staff and their work
efficiency scores are collected. Let X and Y be the scores of the
contract and permanent staff. It is assumed that
and
If you wish to test at the 5% level of significance whether the

population means are equal, which test should be used?
Correct Answer Two-sample assuming unequal variances
Two-sample assuming equal variances
Which conclusion should be drawn from the test performed in

Question 29?
Correct Answer
Do not reject the null hypothesis as the p-value = 0.0543 > 0.05.
Therefore, evidence suggests that the population means are equal
Reject the null hypothesis as the p-value = 0.0543 > 0.05. Therefore,
evidence suggests that the population means are unequal
Reject the null hypothesis as the p-value = 0.0430 < 0.05. Therefore,
evidence suggests that the population means are equal
Do not reject the null hypothesis as the p-value = 0.0430 < 0.05.
Therefore, evidence suggests that the population means are equal
A large international accounting firm implemented a new initiative in

Australia to improve work efficiency. Before this initiative was
implemented, a random sample of 320 auditing jobs for small
businesses was taken and 144 jobs were completed within 2 days.
After implementation, another random sample of 300 auditing jobs
was taken and 150 jobs were completed within 2 days.
Find a 95% confidence interval for the difference of the two

population proportions. (Hint: Use the order given in the question for
the definition of and . Define the difference of the two
proportions to be )
CI: [ , ]
Answer 1:
Using the information given in Question 31, test at the 5% level of

significance whether or not the new initiative can improve work
efficiency. What is the value of the critical value?
You Answered
Correct Answers -1.6449 (with margin: 0)
What is the decision of the test performed in Question 32?
Correct Answer Do not reject
Reject
Unanswered
A large accounting firm recruits a reasonably big group of graduation

trainees each year. Twenty-five trainees are selected at random to
receive a training to improve their work efficiency. Before the training,
each trainee receives a performance score, X. One month after the
training, each trainee receives a new performance score, Y. The
senior management of the firm would like to know whether the
training can improve graduation trainee’s work efficiency. The data is
given in Spreadsheet “4(a)”.
What statistical test would you use to test the above?
Correct Answer Paired t-test
Paired z-test
Separate variance t-test
Pooled variance t-test
Z-test for two proportions
Using the same data as in Question 34, you wish to test whether
there is evidence that the performance scores are different before
and after the test. What is the p-value of this test? Give the answer in
scientific notation to 2dp.
p-value =
Answer 1:
Correct Answer 5.74
[Note: The following information is the same as in Question 34 and

repeated here for easy access]
A large accounting firm recruits a reasonably big group of graduation

trainees each year. Twenty-five trainees are selected at random to
receive a training to improve their work efficiency. Before the training,
each trainee receives a performance score, X. One month after the
training, each trainee receives a new performance score, Y. The
senior management of the firm would like to know whether the
training can improve graduation trainee’s work efficiency. The data
are given in Spreadsheet “4(a)”.
We wish to test whether there is evidence that the training can

improve work efficiency by raising the performance score by more
than 7 points.
The p-value of this test is . Therefore, the
decision is to the null hypothesis (reject/not
reject)
Answer 1:
Answer 2:
Correct Answer Reject
Correct Answer reject
A business analyst in an accounting firm wants to study the linear

relationship between a dependent variable and four independent
variables. She takes a random sample of 50 observations and the
values for these five variables are obtained. She then uses a multiple
linear regression model for statistical analysis and she finds that the
coefficient of determination is 0.39. The ANOVA table of the
regression analysis is given below.
For A to H, fill in the values below: (to 2 decimal places where

necessary)
(A):
(B):
(C):
(D):
(E):
(F):
(G):
(H):
Answer 1:
Correct Answer 4
Correct Answer 4.00
Answer 2:
Answer 3:
Answer 4:
Correct Answer 7.19
Answer 5:
Correct Answer 45
Answer 6:
Answer 7:
Correct Answer 49
Answer 8:
Unanswered
What is the critical value for the F-test in Question 37? (to 2dp)
You Answered
Unanswered
Which conclusion should be drawn for the F-test in Questions 37/38?
Do not reject
Unanswered
What is the appropriate null and alternative for the F-test in the
previous question?
Correct Answer
At least one not equal to zero
At least one not equal to zero
Four independent samples are taken from four populations with

unknown mean and unknown variance. A business analyst is
interested in knowing whether or not the four means are equal. She
performs an analysis of variance test on the data. The data is given
in Spreadsheet “Q5(a)”.
Instruction: Perform an appropriate statistical analysis on the data

using Excel. For hypothesis testing, you need to use the p-value
approach and draw your conclusion based on a 1% level of
significance.
Perform a test for whether there is evidence that the four population
means are equal. Fill in the p-value and your decision (reject/do not
reject)
p-value:
Decision:
Answer 1:
Answer 2:
Correct Answer reject
Unanswered
Which of the means is likely to be unequal? (There is no need to

perform formal testing)
Correct Answer C
Unanswered
A business analyst studies the relationship between a dependent

variable, Y, with four independent variables, X1, X2, X3 and X4, using
multiple linear regression analysis and he obtains the following
result.
Stepwise regression suggests that only X1 and X3 are useful

independent variable. The business analyst performs regression
analysis on this new model and obtains the following result.
'
How many independent variables does the restricted model contain?
You Answered
Correct Answers 2 (with margin: 0)

2 (with margin: 0)
Unanswered
Using the ANOVA table in the previous question, perform an F-test to

confirm that the original model can be reduced to the model
suggested by stepwise regression at a 5% level of significance.
How many degrees of freedom does the test statistic have? (Input in
order) ,
Answer 1:
Correct Answer 2
Correct Answer 2.00
Answer 2:
Correct Answer 45
Unanswered
What is the value of the test statistic of the test (to 2 dp)
You Answered

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Final Exam Practice Quiz: QBUS5001 Quantitative Methods for Business 2020/11/24, 11:27 PM

Final Exam Practice Quiz

The Excel file for this exam is below:

S18QBUS5002 Final Exam.xlsx

Take the Quiz Again

Submitted Nov 24 at 23:25

Which of the following statements about the sampling distribution of

If a random sample of size n>30 is taken from the Poisson

If a random sample of size n>30 is taken from the Exponential

distribution, then approximately

You Answered None of the above

Which of the following statements about the Central Limit Theorem is

If X has mean and variance then

None of the above

Which of the following statements about hypothesis testing is

If the null hypothesis is rejected at the 5% level of significance, it

The level of signifcance is the probability of committing a Type I

You Answered None of the above

In a linear regression analysis, the parameter estimates are given in

X2 is probably the most important variable

X3 is probably the most unimportant independent variable

You Answered None of the above

In a linear regression analysis, the parameter estimates are given in

Correct Answer The standard error of variable X1 is 3.70

Variable X2 is a significant independent variable at 1% level of

Variable X4 is an insignificant variable at a 5% level of significance

None of the above

For Questions 6 - 27, use the data contained in worksheet "Q2".

Spreadsheet “Q2” contains a random sample of 100 pairs of (x,y)

If not otherwise specified, consider use a significance level of

Find the sample correlation coefficient between X and Y

Correct Answers 0.7496 (with margin: 0)

Find the sample mean of X

Correct Answers 9.8812 (with margin: 0)

Unanswered Question 8 0 / 1 pts

Find the sample median of X

Correct Answers 9.7259 (with margin: 0)

Find the sample coefficient of variation for X

Correct Answers 0.2869 (with margin: 0)

Unanswered Question 10 0 / 1 pts

Find the sample coefficient of variation for Y

Correct Answers 0.2781 (with margin: 0)

Unanswered Question 11 0 / 1 pts

Correct Answers 29.55 (with margin: 0)

Unanswered Question 12 0 / 1 pts

Correct Answers 27.92 (with margin: 0)

Unanswered Question 13 0 / 1 pts

Correct Answers 31.18 (with margin: 0)

Unanswered Question 14 0 / 1 pts

Consider a test at a 5% level of significance for whether there is

What is the p-value for the population mean of Y?

Correct Answers 0.5852 (with margin: 0)

Unanswered Question 15 0 / 1 pts

In Question 14, what is the appropriate conclusion for the test?

In Questions 16 - 27, consider a simple linear regression model using

Unanswered Question 16 0 / 1 pts

What is the estimated intercept term of this regression model?

Correct Answers 8.0805 (with margin: 0)