Business Statistics and Probability

 Business Statistics and Probability

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Which statement is true?

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Analyze the statement and identify the one depicting two tailed test
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0! is equal to
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If the distribution has a kurtosis value which is equal to zero.  The distribution is said to be  

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Analyze the excel sheet formula and identify which that does not belong to the group

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In how many ways can you arrange 5 people in a line?
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Evaluate the formula and identify the correct expression

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There are 10 employees in a small business firm.   From these employees, two of them have a salary of Php20,000; three of them receive Php25,000; four of them receive Php30,000; lastly the manager's salary is not given.  Supposing that the average salary of the 10 employees is worth Php29,000, what is the range amount of their salaries?

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It is a theoretical concept whose objective is to be able to explain for some variables the reaction between the intervals of its values and their corresponding probabilities.
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Which can be considered as median?
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16 BSBA students took a quiz in Business Statistics, five of them got a score of 5; five got a score of 10 ; five got  a score of 15 and the other one was unknown.  If the mean score of 16 students is 10, what is the modal score?

 

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Which is equivalent to Q2
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With a 0.5 probability of success in each of your 5 business investments, what is the probability that you will make profit in exactly 2 of your investments?
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In this type of distribution, the number of successes is fixed and the number of trials varies. The function calculates the probability of a given number of failures occurring, before a fixed number of successes.
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___________assigns a probability to each measurable subset of the possible outcomes of a random experiment, survey, or procedure of statistical inference.
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In how many ways can you arrange 5 people in a circle?
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Which statement is false?
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Analyze the excel sheet formula and identify which one does not belong to the group

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Which of the following is incorrectly evaluated

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If the probability that x = 6 is 25%, what is the probability that x will not be equal to 6?

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If the probability that x ≥  6  is 10%.  What is the probability that x<6?

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Evaluate 55!
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Ten people took an employment exam, the following are their scores from a 50-item test

10,20,30,25,35,40,20,34,33,38

What is the population standard deviation?

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Identify the probability distribution being described by the statement below

 

What is the probability of having  exactly 7 tails before 8 heads?

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Statement 1. Factorial notation is the result of multiplying a sequence of descending numbers.

Statement 2. Combination refers to the arrangement of objects with reference to order.

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This examines whether samples are different and is commonly used when the variances of normal distributions are unknown and when an experiment uses a small sample size.
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What can you infer from the following data, 10, 15, 10, 20, 15, 25, 10. 

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You are in charged of the repacking of goods. There are 2 types of canned sardines, 3 types of rice and 2 types of noodles. How many combinations can you make if you are only allowed to pick one per product?

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This is the probability distribution that describes the time between events.
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What can you say about the distribution's skewness given the following data

Mean=20

Mode = 10

Median=15

 

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This is a is a statistical measure that is frequently used to indicate the probability of a specific number of successes occurring from a specific number of independent trials.
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Imagine that you are the banker of the game "deal or no deal".  Supposing that you are tasked to make an offer worth 30% lower than the mean of the remaining amounts contained in the unopened briefcases.   There are only three briefcases left unopened, one chosen by the player and two with the deal or no deal ladies .  The remaining amounts are Php1,000,000,  Php700,000 and Php100,000.  What amount will you offer to the player?

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In a normal distribution,
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The test is applied when you have two categorical variables from a single population. It is used to determine whether there is a significant association between the two variables.
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The variance of the final grades of 50 students is equal to 16, what is the value of standard deviation?

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A normal deck of playing cards consists of 52 cards.  If you will draw one card, what is the probability that you can get a black card?

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Analyze the excel sheet formula and identify which that does not belong to the group

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Question 38

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What do you call a variable whose value is subject to variations due to chance. It can take on a set of possible different values, each with an associated probability.
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If the probability that x ≥  10  is 65% and the probability that x=10 is 20%, what is the probability that x≠10?

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If you flip a coin twice, what is the probability of getting at least one tail?
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Which statement is false?

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This is prefered to be used when handling samples which are greater than or equal to 30.
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Which of the following is a continuous random variable?

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If there are 20 students currently enrolled BSBA-MIS.  In how many ways can elect a president and vice president?

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Question 45

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The average number of homes sold by the a realty company is 2 homes per day. What is the probability that greater than 3 homes will be sold tomorrow?

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Which statement is false?
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Analyze the statement and identify the one depicting two tailed test
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Question 48

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If the probability that x ≤ 20  is 65% and the probability that x<20 is 20%, what is the probability that x≠20?

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This test is applied when you have one categorical variable from a single population. It is used to determine whether sample data are consistent with a hypothesized distribution.
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Euler's number is equal to
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In our discussion, what is the fourth step in hypothesis testing?
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This is the maximum value of the probability of rejecting the hypothesis when in fact it is true

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This type of statistical test is used when relationship of two or more variables are said to be "not equal to" or the problem has no condition.

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It is used when the relationship between two or more variables in the problem is believed to be greater than, lesser than, at most, at least, maximum and minimum 

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A hypothesis that is intended for statistical test is generally stated in ________ form.

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What will be your decision if the absolute calculated value is greater than the tabular value?

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In our discussion, what is the third step in hypothesis testing?
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What will be your decision if the p value is less than the level of significance used?
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Null Hypothesis: There is no significant difference between the age and income level of employees under the entertainment industry.

Supposing that the researcher rejected the hypothesis when in fact it is true.  The researcher committed a

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This is an assumption of relationship between variables
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There are 52 cards in an ordinary deck of cards.  If you will be drawing one card.  What is the probability that it is a heart or a spade?

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You have two Php 20 bills and three Php 50 bills on your poket. If you will be drawing 2 bills in your pocket, what is the probability that you can get at least Php 40?
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Seller, A, B and C records their transaction under the accrual basis.  They had a profit of Php 10,000, Php20,000 and Php15,000 respectively. Calculate the mean or average income of the 3 sellers after the following accounting adjustments.

Seller A received Php1,000 as payment for past recorded receivable

Seller B forgot to record electricity expense worth Php1,200 

Seller C paid accrued expenses worth Php2,000

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You have two Php 20 bills and three Php 50 bills on your poket. If you will be drawing 2 bills in your pocket, what is the probability that you can get at a total of Php 150?
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The company has 3 delivery vans. In how many ways can the vans be parked in a row?
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You are in a game and you will choose one briefcase out of five. The following amounts are inside the briefcases 1,000,000; 500,000; 100,000; 50,000, 20,000. You will be going home with the amount inside your chosen briefcase. What is the probability that you will go home with at least 50,000?
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Given the following data, 10, 15, 10, 20, 15, 25, 10. What is the median?

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The following are the stock prices of FPL Co. from October 9-15

7.70,    7.75,    7.80,   7.60,   7.50,   7.75,    7.75

What is the average stock price within the given week?

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The current foreign exchange rate is USD 1 = Php 45. Assuming that the probability that the rate will be 1 USD = Php 40 is 0.7, and the probability that it will be USD 1= Php 46 is 0.2, the probability that it will remain the same is 0.1. What is the expected foreign exchange rate rate? (Average)

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In an employment exam, 3 applicants got a score of 21-30 while 4 applicants got 31-40. Compute the mean of the grouped data.

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Analyze the situation given and tell whether the situation will make use of Descriptive or Inferential Statistics: The cashier gathers the receipts and totals the income every day.
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Occupation

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Find the margin of error used if sample size computed is 90 at and population is 900.
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Taxable Income

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A researcher was assigned to obtain respondents from a certain municipality, he was tasked to determine the reaction of residents' of a certain municipality regarding the proposed increase in monthly pension of retired people.  He was told to have 200 female and 300 male respondents between the age of 45 and 60.  What is the sampling method used by the researcher?

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Identify the area where statistics is being described: Statistics is used in deciding whether to accept, reject or rework a certain product.

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Average Monthly Expense

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Identify the area where statistics is being described: Statistics provide useful information on how much goods should be kept and how much can be possibly sold at a certain period of time.
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The main purpose of descriptive statistics is to:

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Using stratified random sampling, you need obtain 300 samples from a community consisting of 2,000 individuals belonging to different income brackets.   300 individuals belong to the high income earners; 1200 are average income earners; and 500 are low-income earners.  How many samples will you obtain from the group of low-income earners?

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Which of the following is not included in the group?
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Which of the following is not included in the group
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Years of experience

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Gross Sales per day

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Mr. P, a researcher of the  National Internal Revenue, was tasked to make a research regarding open tax cases of businesses from the 18 regions of the country.  He selected 3 provinces on each region.  After that, he selected 3 municipalities from each province.  From each of the municipalities, he draws 10  registered businesses systematically from their list.  What is the sampling method used by Mr. P?

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Employment Status

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Identify the technique where samples are chosen only when the researcher meets them by chance
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Age

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Brand Name

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Tell whether Descriptive or Inferential Statistics: The engineer calculates the average height of buildings in a city.

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Which statement is false?

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Analyze the situation given and tell whether the situation will make use of Descriptive or Inferential Statistics: The manager computes the average income in a week.
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Which of the following is not included in the group
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When you are dealing with a very large population such as the total residents of the Philippines, which sampling technique can be best used?
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Tell whether Descriptive or Inferential Statistics: The production manager tests if the products are okay by getting samples from the total products manufactured.  Later on, he concluded that the products are not okay and needs d to be repaired. 

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Type of Business

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Which statement is false?

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Statement 1. Gosset formulated the t-test

Statement 2.Egon Pearson was the one who formulated the Pearson chi-square test

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Office Address

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Educationally speaking, Mr. P is a researcher who studies the economics of legal prostitution, He plans to conduct a survey study but because of the sensitive topic, he has no access and no idea regarding the population of study.  He only know one respondent and that was Ms Cute, after the productive survey with her, Mr. P asked if she knows someone who is willing to cooperate with his research, Ms Cute then brings Mr. P to Miss Beautiful.  After doing the same thing, Mr. P requested Ms Beautiful if she knows another respondent who is willing to cooperate, Ms Beautiful then brings him to Ms Chaka.  What sampling method was used by Mr. P?

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Which statement is false?

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Find the population used if sample size computed is 90 at 10% margin of error
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If sample size is 5,000, when margin of error is 1%, what is the size of the population?

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Compute for the sample size, given the following data: Population = 1000, margin of error 10%.
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Find the margin of error used if sample size computed is 50 at and population is 100.

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Census of population is an example of
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Which method is the most time consuming?

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Which statement is false?

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Identify a business-related activity which involves experimental method of data collection
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Identify the technique in which a researcher studies the social process as they happen in the field.
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This exists to guide business decisions by providing insight about competitors, products and customers. this statement describes the use of statistics in the field of 

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Identify the area where statistics is being described: Statistics is applied in performance appraisal of employees.

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This is the science of good decision making in the face of uncertainty and is used in many disciplines such as financial analysis, econometrics, auditing, production and operations including services improvement, and marketing research.

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Which is not included in the group

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This refers to the drawing of conclusion from the analyzed data
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Which statement is false?

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Which of the following statements best describes descriptive statistics

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Which statement is false?

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Identify the area where statistics is being applied: Business entities usually use statistical modeling for predicting budgets and capital expenditures based on the past data of the entity and other relevant variables considered.

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It is the process of extracting relevant information from presented data using statistical methods and procedures
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