# Basic Statistical Analysis for Business Chapter Exam

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### Page 1

#### Question 1 1. Using a standard deck of 52 cards, what is the probability of selecting a 4 and then after not replacing the card, selecting another 4?

#### Question 2 2. The mean of a graph with a normal distribution is located where?

#### Question 3 3. If you roll a die three times, what is the probability of rolling only even numbers?

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Question 4
4.
Find the standard deviation for the following data set:

16, 20, 14, 24, 16, 19, 30, and 8

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Question 5
5.
Kyle works at a local music store. The store receives a shipment of new CDs in a box. In the shipment, there are 10 country CDs, 5 rock CDs, 12 hip hop CDs, and 3 jazz CDs.

What is the probability that Kyle will select a jazz CD from the box, and then, without replacing the CD, select a country CD?

### Page 2

#### Question 6 6. Which of these will become a weighted average?

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Question 7
7.
Find the range for one standard deviation in the following data set:

16, 20, 14, 24, 16, 19, 30, and 8

#### Question 8 8. If the Consumer Price Index shows a number of 140, what is the rough estimate of the percentage inflation since 1982?

#### Question 9 9. Which of the following p-values is NOT statistically significant?

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Question 10
10.
Find the variance for the following data set:

16, 20, 14, 24, 16, 19, 30, and 8

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#### Question 11 11. Which of the following p-values shows statistical significance?

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Question 12
12.
Find the variance for the following data set:

101, 106, 125, 142, 78, and 109

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Question 13
13.
Which number occurs more often than the others?

1, 2, 3, 3, 3, 4, 5, 5, 5, 5, 7, 9, 10, 10

#### Question 14 14. If an index number is 54 today, which of the following shows that the day after will bring an increase?

#### Question 15 15. Which of the following expected values means that you will gain money instead of losing money by playing a game numerous times?

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#### Question 16 16. During the first four Summer Olympic games attended by the United States, these medal counts were awarded. If there is an outlier, identify it from the number of medals won during these Olympic Games.

#### Question 17 17. Using a standard deck of cards (which has 26 red cards and 26 black cards, with 13 cards of every suit), what is the probability of selecting a red card, and then after replacing the card, selecting a heart card?

#### Question 18 18. During the first four Summer Olympic games attended by the United States, these medal counts were awarded. Calculate the mean number of medals won during these Olympic Games. (Round it to the nearest whole number.)

####
Question 19
19.
Which of the following expected values would a casino want for their games, if the expected value is being calculated in terms of the losses and gains of the player?

A) 10

B) -4

C) -2

D) 2

#### Question 20 20. The following are some index numbers from the Dow Jones Industrial Average. Which year did businesses in the US do best?

### Page 5

#### Question 21 21. In a certain game, you can win either $0, $50, or $100. The expected value of the game is -$20. If you play this game many times, how much money can you expect to make per game, on average?

#### Question 22 22. During the first four Summer Olympic games attended by the United States, these medal counts were awarded. Calculate the range number of medals won during these Olympic Games.

#### Question 23 23. A p-value of 0.04 means that the probability of the hypothesis or statistic being true is what?

#### Question 24 24. What percentage of the data is within two standard deviations to the left and right of the middle of a graph with a normal distribution?

#### Question 25 25. Using a spinner with 12 equal sections numbered 1 through 12, what is the probability that Jim will spin a number less than 8?

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#### Question 26 26. What percentage of the data is within three standard deviations to the left and right of the middle of a graph with a normal distribution?

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Question 27
27.
Find the average of the following numbers.

2, 2, 2, 3, 3, 4, 5, 8

#### Question 28 28. During the first four Summer Olympic games attended by the United States, these medal counts were awarded. Calculate the median number of medals won during these Olympic Games.

#### Question 29 29. There are 30 students in Alice's math class. If the students' marks on the last test exhibit a normal distribution, and the average grade was 75%, then how many students scored within one standard deviation of 75%?

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Question 30
30.
Find the average of the following numbers.

8, 5, 10, 12, 20

#### Basic Statistical Analysis for Business Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!