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BAM212 Exam Business statistics with correct answers
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Exam (elaborations) BAM 212 Business Statistics exam review sample questions
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Exam (elaborations) BAM212 Business Statistics
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Stat 1030 Business StatisticsAdditional Final Exam Review Questions (Part I)
DIRECTIONS:
These practice questions are intended to show the style of the final exam and provide
some review of Topics 1–7. They represent only a sampling of possible questions so
actual final exam questions are likely to cover different content.
The exam format is multiple choice. Choose the single best answer.
Questions 1–3.
Per capita annual family income for an individual is defined as total annual income in the individ-
ual’s family divided by the number of persons in the family. A well-known sociologist claimed that
at least 5% of all residents of Santa Barbara County have per capita annual family incomes below
the official poverty level of $4200. The sociologist also made an identical claim for Ventura County.
The following table represents a classification of 3550 individuals according to their residence in
three California counties on May 1, 2012 and according to whether or not their per capita annual
family incomes exceed the poverty level. Suppose this information is available for analysis.
Number of individuals Number of individuals
below poverty level above poverty level
Santa Barbara County 128 2282
Ventura County 49 987
Kern County 7 97
Consider the six steps of the Inference Process. Let Step 1 be given by
Question: Are the sociologist’s claims for Santa Barbara and Ventura counties correct
on May 1, 2012?
1. Consider the following answers A1, A2, A3, A4 to Step 2:
A1 Population = all individuals who reside in California on May 1, 2012.
A2 Population= all individuals who reside in either Santa Barbara County or in Ventura
County on May 1, 2012.
A3 Population 1 = all individuals who reside in Santa Barbara County on May 1, 2012.
Population 2 = all individuals who reside in Ventura County on May 1, 2012.
A4 Population = all individuals who reside in any of Santa Barbara or Ventura or Kern
counties on May 1, 2012.
1
, Which of the following is a true statement?
(a) A2 and A3 are the only correct answers.
(b) A4 is the only correct answer.
(c) A3 is the only correct answer.
(d) A1, A2, A3, and A4 are all correct answers.
(e) None of the answers is correct.
2. Consider the following answers A1, A2, A3, A4 to Step 3:
A1 Sample = all individuals who reside in California on May 1, 2012.
A2 Sample= the individuals classified in the table and who reside in either Santa Barbara
County or in Ventura County on May 1, 2012.
A3 Sample 1 = the individuals classified in the table and who reside in Santa Barbara
County on May 1, 2012.
Sample 2 = the individuals classified in the table and who reside in Ventura County on
May 1, 2012.
Sample 3 = the individuals classified in the table and who reside in Kern County on
May 1, 2012.
A4 Sample = the individuals classified in the table.
Which of the following is a true statement?
(a) A4 is the only potentially correct answer.
(b) A2 is the only potentially correct answer.
(c) A1, A2, A3, and A4 are all potentially correct answers.
(d) A3 and A4 are the only potentially correct answers.
(e) None of the answers is potentially correct.
3. What is the correct answer to Step 6?
(a) The claim for Santa Barbara County appears to be true and the claim for Ventura
County appears to be false.
(b) The claim for all three counties appears to be true.
(c) The claims for Santa Barbara and Kern counties appear to be true and the claim for
Ventura County appears to be false.
(d) The claim for Santa Barbara County appears to be false and the claim for Ventura
County appears to be true.
(e) It is possible to perform Step 6 on about 95 out of every 100 samples.
2
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