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ECON1203-ECON2292-Business & Economic Statistics

Assessments

...

Feedback Quiz 1

Review Test Submission: Feedback Quiz 1

Review Test Submission: Feedback Quiz 1

User

Nevin SPOLJARIC

Submitted

19/03/10 22:48

Name

Feedback Quiz 1

Status

Completed

Score

10 out of 10 points

Instructions A well prepared student should take no more than 30 minutes to complete the quiz.
Students may have a second attempt should they desire. Questions have a random element so that the second
quiz will not be identical to the first. If you do have two attempts, your better mark will count towards the quiz
assessment.
1 out of 1 points

Question 1

A sample of 9 students is selected and their quiz marks out of 10 recorded as: 5, 3, 5, 9, 5, 9, 6, 7, 9. The
median mark is less than the mean mark.
Selected Answer:

True

Correct Answer:

True
1 out of 1 points

Question 2

Consider a sample of size n=10 where the sample mean is 8 and sample variance is 13. Consider a second
sample that is exactly the same as the first except that there is an additional observation that takes on the
value of 8. What is the sample variance for this larger sample with n=11 observations? (Your answer should
be correct to one decimal place.)
Selected Answer:

11.7

Correct Answer:

11.7
1 out of 1 points

Question 3

When extreme values or "outliers" are present in a set of data, which of the following descriptive summary
measures are the most appropriate to use?
Selected Answer:

interquartile range and median

Correct Answer:

interquartile range and median

Question 4

1 out of 1 points

OK

19/03/2010 10:53 PM

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Marks out of a maximum of 100 in a mid-semester test for a class of 65 students is presented in the
following histogram. The histogram is constructed with class intervals defined as 20 to less than 30, 30 to
less than 40, ... , 90 to less than 100. These classes are represented by class midpoints in the histogram.
On the basis of this histogram which of the following descriptions of the key features of the distribution of
mid-semester marks is incorrect?

Selected Answer:

The median mark is somewhere between 60 and 70.

Correct Answer:

The median mark is somewhere between 60 and 70.

1 out of 1 points

Question 5

Suppose a telemarketing firm uses a device that randomly dials residential telephone numbers in a particular
city. Of the first 200 numbers called, 43% were not listed in the telephone book. This is not surprising,
because 52% of all residential phones in this city have unlisted numbers. In this example, 43% is a
population parameter and 52% is a sample statistic.
Selected Answer:

False

Correct Answer:

False
1 out of 1 points

Question 6

A GP samples 5 of her patients and collects information on the number of visits to the GP in the last year
and the age of the patient. The 5 (visit, age) pairs of observations are given as:
(0, 20), (0, 20), (2, 40), (2, 50), ( 2, 70)
Calculate the sample covariance between visits and age. (Your answer should be correct to one decimal
place.)
Selected Answer:

20.0

Correct Answer:

20
1 out of 1 points

Question 7

What is the sample correlation between two variables if the covariance is 7 and the two sample variances are
4 and 25? (Your answer should be correct ot one decimal place.)
Selected Answer:

0.7

Correct Answer:

0.7
1 out of 1 points

Question 8

In a study of the impact of age on the number of GP visits, the covariance between age and GP visits is
found to be positive. This is not enough information to determine the sign of the slope coefficient for the line
of best fit.
Selected Answer:

False

Correct Answer:

False

Question 9

1 out of 1 points

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What is the lower quartile if the upper quartile is 15 and the

interquartile range is 3?
Selected Answer:

12

Correct Answer:

12
1 out of 1 points

Question 10

For a sample of 100 students the sample standard deviation for

their heights measured in centimeters is found to be 12. If these
heights were coverted in meters, what would be the sample
standard deviation? (Your answer should be correct to two decimal
places.)
Selected Answer:

0.12

Correct Answer:

0.12

Friday, 19 March 2010 22:48:16 o'clock EST

19/03/2010 10:53 PM

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ECON1203-ECON2292-Business & Economic Statistics

Assessments

...

Feedback Quiz 2

Review Test Submission: Feedback Quiz 2

Review Test Submission: Feedback Quiz 2

User

Nevin SPOLJARIC

Submitted

15/04/10 23:32

Name

Feedback Quiz 2

Status

Completed

Score

10 out of 10 points

Instructions A well prepared student should take no more than 30 minutes to complete the quiz.
Please remember to submit each attempt you make on the quiz. The highest mark will be recorded in Blackboard.
However, if you leave an attempt unsubmitted, Blackboard will not be able to store the highest mark until this
attempt is finalized.

1 out of 1 points

Question 1

A government environmental agency is interested in methods that will encourage energy conservation by
households within the country. They want to conduct an experiment in order to test whether the provision of
in-house devices that provide an instantaneous indication of current household electricity consumption will
lead to reductions in electricity consumption.
Which of the following constitutes the best sample design to investigate this research question?
Correct
Answer:

Randomly select a sample of customers, half who have the devices installed
and half who do not. Then compare total electricity consumption of the two
groups over the same period.
1 out of 1 points

Question 2

Let possible level of returns from a portfolio of shares be classified as low, medium or high. The table below
shows the marginal probability distribution for returns.
Returns
Probability

low
0.5

medium
p

high
p

What should p equal in order for this to be a valid probability distribution? (Your answer should be correct to
two decimal places.)
Correct Answer:

0.25
1 out of 1 points

Question 3

The following joint distribution that has been constructed using data from the 1995 National
Health Survey conducted by the Australian Bureau of Statistics. This is a large, nationally
represented survey of Australians. The data in the Table refer to whether an individual has
used any medications in the last 2 weeks prior to interview and their self-assessed health status
(SAHS). For SAHS individuals are asked to rate their current health on a five-level scale
ranging from poor to excellent.
Table : Joint frequency distribution of self assessed health and use of medications for
Australians in 1995
Self-assessed health
Excellent Very
Good
Fair
Poor
Totals
good
Use
10.7
20.7
20.0
9.7
3.5
64.6
medication
No
9.4
13.7
9.7
2.2
0.4
35.4
medication
20.1
34.4
29.7
11.9
3.9
100.0
Totals
Using the distribution as an estimate of the population distribution, which
Correct
Answer:

Question 4

of the following is not correct?

Conditional on being in poor health, the probability that a randomly selected Australian
used medications in the last two weeks is 0.035.
1 out of 1 points

OK

15/04/2010 11:34 PM

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Let X represent the number of visits to a GP over the last 12 months. From past records of patients, the GP
has constructed the following probability distribution for X.

x
P(X=x)

0
0.5

1
0.2

2
0.1

3
0.1

4
0.1

What is the expected number of visits given that a patient has had at least one visit? (Your answer should be
correct to one decimal place.)
Correct Answer:

2.2
1 out of 1 points

Question 5

Consider a coin tossing game where you win 9 dollars if a head appears on a single toss of a fair coin
but you lose 9 dollars if a tail appears. Let the random variable R represent the return on a single toss.
What is the variance of R?
Correct Answer:

81
1 out of 1 points

Question 6

Suppose 0.3 of the graduates of a job training centre receive lower paying jobs than they had prior to
entering the job training program. In a random sample of six graduates, what is the probability that exactly
four have jobs paying more than they earned before entering the program? (Your answer should be correct
to four decimal places.)
Correct Answer:

0.3241
1 out of 1 points

Question 7

Let p be the probability of success in a binomial experiment. Of the following values of p, which one will
produce a binomial probability distribution with the largest variance, given that the sample size (n) is the
same in each case?
Correct Answer:

p=0.5
1 out of 1 points

Question 8

It is known that 45% of your local electorate voted for the political party in government at a recent election. In
a random sample of eight drawn from the local electorate, what is the probability that less than four voted for
the party in government?
Correct Answer:

.4770
1 out of 1 points

Question 9

From considerable past experience, a student knows that the time elapsed between placement of a pizza
order and delivery of the pizza is uniformly distributed between 10 and 40 minutes. What proportion of pizza
deliveries take between 20 and 39 minutes? (Your answer should be correct to two decimal places.)
Correct Answer:

0.63
1 out of 1 points

Question 10

The binomial distribution is often used to represent the mix of females and males in families of size n. A
potential threat to using the binomial as a model to approximate the gender mix in families is the fact that
historical data indicates that females are slightly less likely to be born than males.
Correct Answer:

False

Thursday, 15 April 2010 23:33:18 o'clock EST

15/04/2010 11:34 PM

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27/04/2010 8:17 PM

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ECON1203-ECON2292-Business & Economic Statistics

ECON1203ECON2292-Business
& Economic
Statistics

Assessments

...

Feedback Quiz 3

Review Test Submission: Feedback Quiz 3

Review Test Submission: Feedback Quiz 3

User

Cheryl MEW

Submitted

27/04/10 20:14

Name

Feedback Quiz 3

Lecture Notes

Status

Completed

Tutorial Program

Score

10 out of 10 points

Assessments

Instructions A well prepared student should take no more than 30 minutes to complete the quiz.

Business and Economic

Statistics
Course Info

Data
Statistics in Action

Please remember to submit each attempt you make on the quiz. The highest mark will be recorded in Blackboard. However, if you leave an attempt
unsubmitted, Blackboard will not be able to store the highest mark until this attempt is finalized.

Learning Research
Discussions

1 out of 1 points

Question 1

Suppose X is normally distributed with a mean of 8 and a variance of 4. What is the probability that X is greater than 0 but less than 8? (Your answer
should be correct to one decimal place.)
Correct Answer:

0.5
1 out of 1 points

Question 2

A standardized test that has been used by employees to screen job applicants is known to produce scores that are normally distributed with a mean
of 70 and a standard deviation of 6. Suppose a particular firm requires applicants to score in the top 20% of test scores before being considered for
employment. What score would a job applicant require to be considered by this firm? (Your answer should be correct to one decimal place.)
Correct Answer:

75.0
1 out of 1 points

Question 3
If an estimator is said to be unbiased then the population mean equals the sample mean.
Correct Answer:

False
1 out of 1 points

Question 4

If a random sample of size 16 is drawn from a population distribution with standard deviation =10 then what will be the variance of the sampling
distribution of the sample mean? (Your answer should be correct to one decimal place.)
Correct Answer:

6.3 0
1 out of 1 points

Question 5

Let X denote the outstanding balances of customers of a firm. From past experiences X is well aproximated by a normal distribution with mean 43
and variance 100. If an auditor takes a random sample of 36 accounts what is the probability that the mean balance will be less than 43? (Your
answer should be correct to one decimal place.)
Correct Answer:

0.5
1 out of 1 points

Question 6

You have measured the systolic blood pressure of a random sample of 25 employees of a company. A 95% confidence interval for the mean
systolic blood pressure for the employees is computed to be (122,138). Which of the following statements gives a valid interpretation of this interval?
Correct
Answer:

If the sampling procedure were repeated many times, then approximately 95% of the resulting confidence intervals would
contain the mean systolic blood pressure for employees in the company.
1 out of 1 points

Question 7

An analyst, using a random sample of n = 500 families, obtained a 90 percent confidence interval for mean monthly family income for a large
population: ($3800, $4200). If the analyst had used a 99 percent confidence level instead, the confidence interval would be:
Correct Answer:

Wider and would involve a smaller risk of being incorrect.

1 out of 1 points

Question 8

Helen is an auditor who must audit the costs of an inventory of 90,000 items. Time and budget constraints preclude her from checking all items so
she must base her conclusions on a simple random sample of 100 items. What is the margin of error in estimating the mean value of the 90,000
items in the inventory if she assumes the item costs are normally distributed with a standard deviation of 52 and she uses a 80% confidence level?
(Your answer should be correct to one decimal place.)
Correct Answer:

6.7 0
1 out of 1 points

Question 9

The average account balance on 16 randomly selected accounts was found to be $150. If the account balances per account in previous studies was
found to be approximately normally distributed with a variance of 400 $2, a 98% confidence interval for the mean balance is:
Correct Answer:

(138.4, 161.7)
1 out of 1 points

Question 10

An electrical firm which manufactures a certain type of bulb wants to estimate its mean life. Assuming that the life of the light bulb is normally
distributed and that the standard deviation is known to be 40 hours, how many bulbs should be tested so that we can be 95 percent confident that the
estimate of the mean will not differ from the true mean life by more than 10 hours? (Your answer should be rounded to the nearest whole number.)
Correct Answer:

61.0 1

Tuesday, 27 April 2010 20:15:22 o'clock EST

OK

27/04/2010 8:17 PM

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ECON1203-ECON2292-Business & Economic Statistics

ECON1203ECON2292-Business
& Economic
Statistics
Business and Economic
Statistics
Course Info

Assessments

...

Feedback Quiz 4

Review Test Submission: FBQ4 2010s1

Review Test Submission: FBQ4 2010s1

User

Cheryl MEW

Submitted

25/05/10 00:14

Name

FBQ4 2010s1

Lecture Notes

Status

Completed

Tutorial Program

Score

10 out of 10 points

Assessments

Instructions Please remember to submit each attempt you make on the quiz. The highest mark will be recorded in Blackboard. However, if you leave an attempt unsubmitted, Blackboard will not be able to store the highest mark until this

Data

attempt is finalized.

Statistics in Action
Learning Research
Discussions

1 out of 1 points

Question 1

In order to study the amounts owed to the city council, a city clerk takes a random sample of 16 files from a cabinet containing a large number of delinquent accounts and finds the average amount owed to the city to be $234. It has been claimed that the true
mean amount owed on accounts of this type is greater than $250. If it is appropriate to assume that the amount owed is a normally distributed random variable with a standard deviation of $37, then the value of the test statistic appropriate for testing the claim
is: (Your answer should be correct to two decimal places.)
Correct Answer:

-1.73
1 out of 1 points

Question 2

Which of the following statements is correct?

Correct Answer:

An extremely small p-value indicates that the actual data differs markedly from that expected if the null hypothesis were true
1 out of 1 points

Question 3

The Sydney Airport Commission set a performance target of 25 minutes for the time taken for passengers to claim their luggage at domestic terminals. In order to monitor performance a study was conducted by taking a random sample of 200 passengers
disembarking from Sydney airport. If the study found a p-value of 0.5 what was the sample mean time taken by passengers to claim their luggage? (Your answer should be correct to one decimal place.)
Correct Answer:

25
1 out of 1 points

Question 4

You conduct a statistical study in order to test whether a new training program has led to an improvement in performance or not. The p-value of the the test turns out to be 0.01. This implies that for any significance level below 10% you would not reject the
null hypothesis of no change.
Correct Answer:

False
1 out of 1 points

Question 5

In a simple linear regression you are told that the estimate of the slope coefficient was 0.9 and that the "t-statistic" for testing whether the slope parameter was unity or not was -3.6. What is the estimated standard error for the estimated slope coefficient?
(The answer should be correct to two decimal places.)
Correct Answer:

-0.03 3
1 out of 1 points

Question 6
If the R-squared for a regression model relating the outcome y to an explanatory variable x is 0.9. This implies that there is a positive linear relationship between y and x.
Correct Answer:

False
1 out of 1 points

Question 7

Using a sample of recent university graduates, you estimate a simple linear regression using initial annual salary as the dependent variable and the graduate's weighted average mark (WAM) as the explanatory variable. If the regression model has an
estimated intercept of 2200 and an estimated slope coefficient of 550, what is the predicted starting salary of a student with a WAM of 82?
Correct Answer:

47,300
1 out of 1 points

Question 8

At the end of the semester the lecturer runs a regression using the student's final grade as the dependent variable and a male dummy (equals one if the student is male and equals zero otherwise) as the sole explanatory variable. If the estimated intercept is
65 and the estimated coefficient on the male dummy is 3 then what is the estimated mean mark for males in this course?
Correct Answer:

68
1 out of 1 points

Question 9
In a multiple regression setting which of the following statements is NOT correct?
Correct Answer:

The standard error of the estimate needs to be large for a multiple regression model to be valid.
1 out of 1 points

Question 10
This is the last feedback question for the semester.
Correct Answer:

True

Tuesday, 25 May 2010 00:15:05 o'clock EST

OK

25/05/2010 12:15 AM