Exam (elaborations)
HBS Harvard Business School CORE - HBX CORe Exam with 100% Correct Solutions
- Course
- HBS Business CORE - HBX CORe
- Institution
- Harvard University
HBS Business CORE - HBX CORe
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Based on the scatterplot below, which of the following correlation coefficients BEST describesthe relationship between undergraduate GPA and beginning annual salary?
D. 0.9
Which of the following scenarios is an example of a Type I error?
A. A null hypothesis which is true is rejected
Which of the following histograms, each with nine observations, has a median of five?
D.
"A recent graduate is interested in investing in a stock. This individual is particularly interested in
retail companies and has been following two companies closely for the past year. In order to
decide which stock to invest in, this individual decides to compare monthly returns for both
companies over the past year. A table of descriptive statistics is given below. What can be said
about Company A regarding risk and average returns in relation to Company B?"
B. Company A has higher average monthly returns and is relatively less risky than
Company B
,A trainer believes that a new workout regimen has helped athletes score more points per game.
If the previous mean for points scored per player per game was 5.3, which alternative
hypothesis below is the trainer trying to substantiate?
C. u>5.3
In which situation would it be appropriate to use time-series data?
A. To study changes in the unemployment rate
Which of the following options is an example of a biased question? (Select all that apply.)
D. Would it be better to replace the federal minimum wage with a living wage?
E. Should the federal minimum wage be increased even though it would cost private
businesses billions of dollars?
A 95% confidence interval for a sample of data is as follows:
Sample Mean: 90.5
Upper Bound: 98
Lower Bound: 83
Given this data, the tester is 95% confident that:
C. the true population mean falls between 83 and 98
What is the approximate poverty rate for the outlier in the scatterplot below?
B. 18%
A mutual fund manager believes that a new research method will provide better returns for
clients. The manager's historical monthly return prior to the new research method was 0.46%.
After the manager began using the new method the monthly return was 0.57%. After running a
,hypothesis test, the manager saw that the one sided p-value was 0.029. Assuming a 95%
confidence level, which of the conclusions below would be correct?
B. Reject the null hypothesis and continue using the new method.
The scatterplot below shows the relationship between the number of wins for 30 Major League
Baseball teams in 2013 and their respective payrolls. The best fit line is included in the
scatterplot. Which option below MOST accurately describes the best fit line shown?
B. y = 72.08 + 0.09x
The partial regression output table below describes the relationship between point differential
per game and winning percentage for all 30 National Basketball Association teams for the last
five seasons. (For a team, the point differential per game is the difference between average
points scored and average points allowed per game.) Based on this information, a decrease in
point differential of one point per game would have what effect, on average, on a team's winning
percentage?
C. A decrease in winning percentage of 0.03
A music executive is trying to determine the effect that advertising expenditures (in dollars)
have on digital music sales. After gathering sales data from the previous 12 quarters, the
executive finds the effect that advertising expenditures have on digital music sales can be
described by the following equation: Digital music sales = 9,500 + 0.15*(advertising
expenditures). Based on this equation, which of the statements below is correct?
B. Each additional $1.00 spent on advertising increases digital music sales by $0.15 on
average.
, An executive at an insurance company has developed a new method for determining monthly
rates for drivers insured by the company. Using a regression analysis of different factors, the
executive has come to the conclusion that the two most important factors are the value of the
car and the number of miles the driver lives from the city. The partial regression output table
provided by the data is as follows:
Given this information, how much could a driver expect to pay per month for a car worth
$45,000 located three miles from the city center?
C. $563.50
A city concerned about its youth unemployment rate decided to offer a new vocational training
program in the hopes of decreasing youth unemployment. Before the program began, the youth
unemployment rate was 18%. Four years after the program began, the rate had fallen to 14%.
What is the correct null and alternative hypothesis pair for this situation?
D. H0: 18% HA: <18%
A student wants to know the probability of getting a value less than -0.76 in a standard normal
distribution (=0, =1). The student finds that the area under the curve to the left of positive 0.76 is
0.7764. What is the probability of getting a value less than -0.76?
A. 22.36%
A professor asks a class of 100 students to spend the weekend sampling the heights of adults.
After each student samples 30 adults, the student is then asked to calculate the mean of his or
her sample. As the professor collects the individual sample results from each student, which of
the options below is the MOST likely to be observed?
C. As more samples are collected, the sample means may vary but the average of the
sample means will converge to the true population mean.
A college has recently finished building a new dining hall on campus. School administrators wish
to survey students regarding their thoughts on the new dining hall. Which of the options below
represents a correct sampling method?
C. The administrators randomly select students from each class who are surveyed via
phone.
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A student is interested in which factors affect the U.S. poverty rate and develops a model using
the following independent variables:The unemployment rate The percent of the adult (over 25)
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