Index =>

Chapter 1 Quiz

Your score is 52%.

Show questions one by one

1. Information is

A. X all the facts and figures

B. X the creation of a database

C. :-) the selective use of data to inform the user

D. ? a summary of the solutions

2. The quantitative approach requires

A. X a scientific rigour in the collection of data

B. X the selective use of data

C. X the correctness of calculation

D. ? all of the above

3. Primary data

A. :-) is collected for a specific purpose

B. X can be any data

C. ? is supplementary data

D. ? is none of the above

4. A parameter

8. Scoring models could be used for

A. ? a cashflow forecast

B. ? breakeven analysis

C. :-) clarifying the choices between options that involve a number of factors

D. ? the evaluation of a saving scheme

Index =>
Chapter 2 Quiz

Your score is 62%.

Questions answered correctly first time: 2/8

Show questions one by one

1. Data is

A. ? a coding of responses from a questionnaire

B. ? a set of facts and figures from a database

C. ? information collected for other purposes

D. :-) all of the above

2. Secondary data

A. ? already exists for other purposes

B. X is used only second

C. X is always second best

D. X none of the above

3. W’s and H

A. ? is a coding of data

B. :-) is a techniques for clarifying a problem or issue

C. X is a formula

D. ? is a way of asking ‘why’ 5 times

8. Market research

A. X cannot estimate the market share of brands produced by other companies

B. ? can provide an alternative to statistical analysis

C. :-) can provide information on customer satisfaction

D. ? cannot provide acceptable information on politically sensitive issues such as carbon emission
and health service provision

Index => Index =>

Index =>
Chapter 3 Quiz

Your score is 63%.

Questions answered correctly first time: 4/10

Show questions one by one

1. To reflect the opinions of a population a survey needs to

A. ? Ask everyone’s opinion

B. ? Ask opinions from any small group

C. :-) Ask the opinions of a representative group

D. ? Ask opinions from the first 100 people you meet

2. A cluster sample will

A. X Seek views from a homogeneous group in the population

B. ? Seek views from a heterogeneous group in the population

C. X Seek views from any group in the population

D. X Seek views from everyone who attends a group discussion

3. A two stage random sample

A. :-) Takes a random sample of groups and then a random sample in each

B. ? Takes a random sample and then a second one

C. ? Takes a random sample from every group in the population

D. ? Takes a random sample and analyses it in two stages

8. The question “How would you manage this situation if you were the manager?” is

A. :-) A hypothetical question

B. X A question which contains jargon

Correct!

Your score is 63%.

OK

C. ? Two questions as one

D. X A leading question
9. Gallup identified how many question objectives? A.

B. C.

D.

10. Sampling methodology

A. X Is crucial to obtaining meaningful results

B. ? Is a description of how the sampling was done

C. ? Allows the results to be replicated

D. :-) All of these

Index =>

Index =>

Chapter 4 Quiz

Your score is 39%.

Questions answered correctly first time: 0/5

Show questions one by one

1. Component bar charts have A. X All bars the same length

B. ? Bars for percentages of each component

C. :-) Bars built up from sections for each component

D. X Are coloured to reflect the components

2. Pie charts can be used for A. ? Annual company reports

B. X Degree dissertations

C. ? Publicity materials

D. :-) Any of these

B. X Ordinal data

C. ? Interval data
 Index =>

Chapter 5 Quiz

Your score is 56%.

Questions answered correctly first time: 3/10

Show questions one by one

1. Averages are

A. X A typical value

B. ? A measure of location

C. ? A measure of central tendency

D. :-) All of these

2. In a normal distribution

A. X The mean is above the median and mode

B. X The mean is below the median and mode

C. ? The mean is equal to the mean and mode

D. X The mean is between the median and mode

3. Data Set 1: 14, 12, 17, 25, 14, 19, 30

For data set 1, the arithmetic mean is A.

B.

C. :-) 18.7

D.

Index =>

Chapter 6 Quiz

Your score is 26%.

Questions answered correctly first time: 1/10

Show questions one by one

1. Which of the following is not a measure of dispersion?

A. X Standard deviation

B. X Variance

C. ? Median

D. X Quartile deviation

2. Measures of location and of dispersion are often used together, which of these is not a pair?

A. X Mean & standard deviation

B. X Median & quartile deviation

C. ? Mode & range

D. X Mean & variance

3. Data Set 1: 8, 12, 14, 6, 12, 19, 27

For Data Set 1 the Range is: A.

B. C.

D.

Index =>

Chapter 7 Quiz

Your score is 50%.

Questions answered correctly first time: 3/10

Show questions one by one

1. Year Index

1 108

2 112

3 116

4 124
5 131

From the data above, the percentage change from year 1 to year 2 is

2. From the data above, the percentage change from year 2 to year 3 is

3. From the data above, if the index were rebased so that Year 3 = 100, the index for year

1 would be

Index =>

Index =>

Chapter 8 Quiz

Your score is 53%.

Questions answered correctly first time: 4/10

Show questions one by one

1. Throwing a die, the probability of an even number is

2. Throwing 2 die, the probability of an even total score is

A. X 6/36

B. X 9/36

C. ? 18/36

D. X 27/36

3. Throwing 2 die, the probability of an total score below 6 is

A. :-) 6/36

B. ? 16/36

C. ? 20/36
D. ? 26/36

Index =>

Chapter 9 Quiz

Your score is 73%.

Questions answered correctly first time: 6/10

Show questions one by one

1. A table of random numbers has a

A. ? Normal distribution

B. :-) Uniform distribution

C. ? Binomial distribution

D. ? Poisson distribution

2. A binomial distribution has

A. ? A variable chance of success

B. ? An unlimited number of trials

C. ? Many outcomes

D. :-) Independence of events

3. The number of ways of picking 4 from 6 is

Index =>

Chapter 10 Quiz
Your score is 53%.

Questions answered correctly first time: 3/10

Show questions one by one

1. A Normal Distribution is

A. :-) symmetrical

B. ? bimodal

C. X skewed

D. ? uniform

2. A normal distribution with a mean of 100 and a standard deviation of 10 has 5% of the values
above:

A. ? 101.645

B. ? 101.96

C. :-) 116.45

D. ? 119.6

3. The same distribution has 97.5% of values below:

A. X 101.645

B. ? 101.96

C. ? 116.45

D. :-) 119.6

Index =>

Chapter 11 Quiz

Your score is 29%.

Questions answered correctly first time: 0/10

Show questions one by one

1. You can take a smaller sample if

A. X you want to do a more detailed analysis of subgroups

B. ? less accuracy is acceptable

C. X a higher level of confidence is required

D. X there is more variability in the population

2. If you decide to use a 95% confidence interval rather than a 99% confidence interval you would
expect the confidence interval to become

A. X wider

B. X stay the same

C. ? smaller

D. X increase by 4%

3. Given the sample statistics n = 80, = £9.90 and s = £1.84 , the 95% confidence interval is given by

A. ? μ = £9.90 ± £0.40

B. X μ = £9.90 ± £1.84

C. X μ = £8.06 ± £1.84

D. X μ = £9.90 ± £3.61

Index =>

Chapter 12 Quiz

Your score is 62%.

Questions answered correctly first time: 3/8

Show questions one by one

1. A hypothesis

A. X is always a good idea

B. ? can always be accepted if the sample is large enough

C. ? a concept that should be accepted

D. :-) none of the above

2. The larger the value of the test statistic the more likely you are to
A. X reject the alternative hypothesis

B. ? accept the null hypothesis

C. :-) reject the null hypothesis

D. X reject the null hypothesis and reject the alternative hypothesis

3. Given H0: μ = £100, H1: μ ≠ £100, a significance level of 5% and z = 2.07

A. X you would accept the null hypothesis

B. :-) you would reject the null hypothesis

C. X you would change the level of significance

D. ? you would accept the alternative hypothesis

Index =>

Chapter 13 Quiz

Your score is 61%.

Questions answered correctly first time: 2/7

Show questions one by one

1. A parametric test requires the following conditions

A. ? a null hypothesis that can be stated in terms of a parameter

B. ? a meaningful level of measurement has been achieved that gives validity to

C. X a test statistic that follows a known distribution

D. :-) all of the above is true

2. A non-parametric test requires

A. X a null hypothesis

B. ? the calculation of a test statistic

C. X the use of critical values

D. :-) all of the above

3. A chi-squared test statistic of 16.548 has been calculated for a 4 by 5 cross tabulation

(with all expected frequencies above 5). Using a 5% significance level

A. ? you would compare with a critical value of 21.0 and not reject the null

B. X you would compare with a critical value of 21.0 and reject the null hypothesis

C. X you would compare with a critical value of 14.8 and not reject the null hypothesis

6. You are using the Mann-Whitney U test for a large sample and have been given the following
statistics: T = 258, n1 = 15 and n2 = 25. Using a 5% significance level you would compare a z value of

A. ? +1.87 with +1.645 and reject null hypothesis

B. :-) +1.87 with +1.96 and not reject null hypothesis

C. ? -2.87with +1.96 and reject null hypothesis

D. ? +2.87 with +1.96 and not reject null hypothesis

7. A company has identified a number of fraudulent claims. To test whether they are random they
should use a:

A. X Mann-Whitney U test for small samples

B. ? Wilcoxon test for small samples

C. ? Wilcoxon test for large samples

D. :-) Runs test

Index =>

Index =>

Chapter 14 Quiz

Your score is 73%.

Questions answered correctly first time: 5/10

Show questions one by one

1. Correlation is a measure of

A. X cause and effect

B. X the intercept

C. ? the change in y

D. :-) none of these

2. A correlation coefficient cannot take the value A.

B.

C. :-) +1.50

D. ? 0.5567

3. A perfect positive relationship is indicated by the correlation coefficient

A. :-) +1

B.

C.

D. ? 100%

Index =>

Chapter 15 Quiz

Your score is 53%.

Questions answered correctly first time: 2/10

Show questions one by one

1. The regression line may be referred to as

A. X the line of best fit

B. ? the least squares line

C. X the regression of y on x

D. :-) all of the above

2. If the correlation coefficient is equal to +1 then

A. :-) all points will lie on a line sloping upwards to the right

B. X all points will lie on a line sloping downwards to the right

C. ? some points will lie on a line sloping upwards to the right

D. ? some points will lie on a line sloping downwards to the right

3. If the correlation coefficient is equal to -0.3 then we would expect to make A. X good
predictions from a regression line sloping upwards to the right

B. ? good predictions from a regression line sloping downwards to the right

C. X poor predictions from a regression line sloping upwards to the right

D. :-) poor predictions from a regression line sloping downwards to the right

Index =>

Chapter 16 Quiz

Your score is 73%.

Questions answered correctly first time: 2/5

Show questions one by one

1. Multiple regression relates

A. :-) the dependent variable y to two or more explanatory variables

B. ? the dependent variable y to two or more dependent variables

C. ? an explanatory variable to one or more dependent variables

D. ? an explanatory variable to one dependent variable

2. The coefficient of determination

A. X provides a measure of the variation explained by the regression model

B. ? can guide the selection of additional variables

C. X can be given as an adjusted figure to provide an unbiased estimate

D. :-) all of the above

3. Multicollinearity exists when

A. X two or more of the independent variables are not correlated

B. ? the dependent variables is highly correlated with two or more of the independent variables

C. :-) two or more of the independent variables are highly correlated

D. ? the depend variables Correct!

ent variables is not highly correlated withYour score is 73%.

OK

the independent

4. The basic test of autocorrelation is provided by

A. ? the coefficient of determination

B. :-) the Durbin-Watson test

C. ? the t-test

D. ? none of the above

5. The multiple regression model will be improved by the

A. X exclusion of seasonality

B. ? reduced number of variables

C. :-) careful specification of variables

D. ? none of the above

Index =>

Index =>

Chapter 17 Quiz

Your score is 41%.

Questions answered correctly first time: 0/8

Show questions one by one

1. A time series model could include

A. X Trend

B. X Seasonal factors

C. ? Cyclical factors

D. :-) All of the above

2. A trend is

A. X copying past figures

B. :-) a general direction in which the figures are moving

C. X being the same as other current figures

D. ? the use of regression

3. the use of regression A. X A = T ÷ S ÷ C ÷ R

B. ? A=T–S+C+R

C. X A=T+S+C+R

D. :-) A = T × S × C × R

8. The exponentially weighted moving average

A. X gives more weight to recent data

B. X has a sum of weights which equals 1

C. ? is weighted exponentially

D. :-) all of these

Index =>

Index =>

Chapter 19 Quiz

Your score is 30%.

Questions answered correctly first time: 1/10

Show questions one by one

1. Interest is

A. X The payment for a loan

B. X The cost of capital

C. X The price of money

D. ? All of these

2. If £200 is invested at 5% simple interest, after 3 years the total sum will be:

A. X £210.00

B. ? £215.00

C. :-) £230.00

D. ? £231.53

3. If £200 is invested at 5% compound for 3 years, the total amount will be:

A. X £210.00

B. ? £215.00

C. X £230.00

D. :-) £231.53

Index =>

Chapter 20 Quiz

Your score is 45%.

Questions answered correctly first time: 3/8

Show questions one by one

1. Linear programming is:

A. :-) An optimisation technique

B. ? A means of dealing with linear functions

C. ? A means of making production functions linear

D. ? All of these
2. Problem 1: A production process can make two products, A and B. A requires 2 hours and 1 kilo
of mix, whilst B requires 3 hours and 3 kilos of mix. There is an agreement to make at least 3 of A. Profit
is £4 for each A and £10 for each B. There are 100 hours per week and 60 kilos of mix available.

In Problem 1, the time constraint is:

A. X A + 3B ≤ 60

B. X A + 2B ≤ 100

C. X 2A + 3B ≤ 60

D. ? 2A + 3B ≤ 100

3. In Problem 1 the mix constraint is:

A. :-) A + 3B ≤ 60

B. ? A + 2B ≤ 100

C. ? 2A + 3B ≤ 60

Index =>

Chapter 21 Quiz

Your score is 40%.

Questions answered correctly first time: 1/10

Show questions one by one

1. A network is:

A. X A list of activities

B. ? A sequence of activities

C. X A rough plan of action

D. X A way of identifying what doesn’t need doing

In Problem 1, the minimum number of dummy activities is: A.

B. C.

D.
3. In Problem 1, the total minimum duration is:

A. X 6

Index =>

Chapter 22 Quiz

Your score is 47%.

Show questions one by one

1. In the basic stock control model, total variable cost is the sum of

A. :-) total ordering cost + total holding cost

B. ? total ordering cost + total holding cost + purchase cost + other costs

C. ? total ordering cost + total holding cost + purchase cost

D. ? the fixed costs

2. The basic stock control model relates the economic order quantity to:

A. X total ordering costs

B. ? total holding cost

C. X total ordering cost and total holding cost

D. :-) the annual level of demand, the ordering cost and holding cost per item p.a.

3. The basic stock control model assumes:

A. X known demand

B. ? constant demand

C. X zero lead time

D. :-) all of the above

4. Making larger orders to gain a discount could

Index =>

Chapter 23 Quiz

Your score is 54%.

Questions answered correctly first time: 3/8

Show questions one by one

1. A simulation model typically includes

A. X input variables

B. X parameters

C. ? output variables

D. :-) all of the above

2. A parameter will

A. :-) take a given value for a particular simulation

B. ? take a given value for all simulations

C. ? take values within a limited range

D. ? change if variables are allowed to change

3. Random numbers are used to A. X to change the parameters

B. X add predictability to the output variables

C. ? model the problem variability

D. X model the status variables

Index =>

Chapter 24 Quiz
Your score is 81%.

Questions answered correctly first time: 5/8

Show questions one by one

1. Game theory can be

A. :-) choosing between alternative strategies

B. ? a competition

C. ? a contest

D. ? all of these

2. A payoff matrix will be known to

A. X Player A

B. ? Player B

C. :-) Both Players

D. ? Neither Player

3. Players will select possible strategies a certain proportion of the time

A. ? in a pure-strategy game

B. :-) in a mixed-strategy game

C. ? in both of these

D. ? in neither of these