QBA Exam 1-Quiz Questions and Correct Answers Guaranteed Success A bank with a branch located in a commercial district of a city has developed an improved process for serving customers during the noon to 1:00PM lunch period. A reduced wait time will aid the bank's effort to increase customer satisfaction. Another branch, located in a residential area, customers from each branch. Both populations of wait times are normally distributed. Do we have sufficient evidence to state that the mean waiting time at the commercial district location is less than the mean waiting time at the residential location at the 5% significance level?What is the appropriate alternative hypothesis?A)ucom-ures<0 B)ucom-ures=/0
- ucom-ures>=0
D)ucom-ures>0
E) ucom-ures<=0 - Correct Answer: A) ucom-ures<0
A bank with a branch located in a commercial district of a city has developed an improved process for serving customers during the noon to 1:00PM lunch period. A reduced wait time will aid the bank's effort to increase customer satisfaction. Another branch, located in a residential area, customers from each branch. Both populations of wait times are normally distributed. Do we have sufficient evidence to state that the mean waiting time at the commercial district location is less than the mean waiting time at the residential location at the 5% significance level?What is the appropriate test statistic for this hypothesis test?
- paired -t
- t-test
C)z-test
D)pooled t - Correct Answer: D) Pooled-t
A brokerage firm sells several kinds of investment products (a stock fund, a bond fund, and a tax- deferred annuity). The company is examining whether customer satisfaction depends on the type of investment product purchased. The firm selects 100 clients from the population of clients who have purchased shares in exactly one of the funds. Each of these clients reports their level of satisfaction with the fund as one of the following: high, medium, or low. Test the null hypothesis that fund type and level of client satisfaction are not associated.
- One-way ANOVA
- Chi-square goodness-of-fit
- Chi-square test for independence
D) Paired t-test - Correct Answer: C) Chi-square testforindependence
A campus administrator has found that 60% of all students view courses as very useful, 20%, as somewhat useful, and 20% as worthless. Of a random sample of 100 students taking business courses, 68 found the course in question very useful, 18, somewhat 1 / 2
useful, and 14, worthless. Test the null hypothesis that the population distribution for business courses is the same as that for all courses.
- One-way ANOVA
- Chi-square goodness of fit
- Chi-square test for independence
D) Paired t-test - Correct Answer: B) Chi-square goodness-of-fit
A confidence interval for the population mean is an interval centered on ____.
- The sample mean, X (bar)
- the population mean (u)
- The standard error
D)Zero - Correct Answer: A) The sample mean, X (bar)
A corporation is trying to decide which of three makes of automobile to order for its fleet (domestic, Japanese, or European). Five cars of each type were ordered, and, after 10,000 miles of driving, the operating cost per mile of each was assessed. Test the null hypothesis that the population mean operating cost per mile is the same for each make of automobile.
- One-way ANOVA
- Chi-square goodness-of-fit
- Chi-square test for independence
D) Paired t-test - Correct Answer: A) One-way ANOVA
A diet soda manufacturer wants to compare the effects on sales of two different can designs. Four regions are selected for the test, and two stores are randomly selected from each region, each to display one can design. Each region has one store that displays one can design and one that displays the other design. You are asked to test the null hypothesis that the population mean sales are the same for each can design.
- One-way ANOVA
- Chi-square goodness-of-fit
- Chi-square test for independence
D) Paired t-test - Correct Answer: D) Paired t-test
A financial analyst working for a financial consulting company wishes to find evidence that the average price-to-earnings ratio in the consumer industry is higher than the average price-to-earnings ratio in he consumer industry is higher than the average
price-to-earnings ratio int eh banking industry, The null hypothesis is:
- Ucons-Ubank<= 0
- Ucons-Ubank>=0
- ucons-ubank <0
- ucons-ubank>0
E) ucons-ubank =/0 - Correct Answer: A) ucons-ubanks<=0
A liberal arts college was interested in determining if there were different graduate school patterns for students with undergraduate majors in history and economics. The college surveyed a random sample of recent graduates and found that a large number
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