Business Research Methods
Practice Exam
Course Introduction
Business Research Methods provides students with a comprehensive understanding of the essential tools and techniques used to investigate business problems and make informed decisions. The course covers both qualitative and quantitative research methodologies, including research design, data collection, sampling, data analysis, and interpretation of results. Emphasis is placed on developing critical thinking skills, ethical considerations in research, and the ability to effectively communicate findings. Through practical projects and case studies, students learn to apply research methods to real-world business scenarios, equipping them with the analytical skills necessary for evidence-based management and strategic planning.
Recommended Textbook
Applied Statistics in Business and Economics 5th Edition by David Doane
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Page 2
Chapter 1: Overview of Statistics
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Q1) Empirical data are collected through observations and/or experiments.
A)True
B)False
Answer: True
Q2) Which of the following statements is not true?
A)Statistics helps refine theories through ongoing hypothesis testing.
B)Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.
C)Estimating parameters is an important aspect of descriptive statistics.
D)Statistical challenges include imperfect data and practical constraints.
Answer: C
Q3) Descriptive statistics refers to summarizing data rather than generalizing about the population.
A)True
B)False
Answer: True
Q4) A strong correlation between A and B would imply that B is caused byA.
A)True
B)False
Answer: False
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Chapter 2: Data Collection
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Q1) Which of the following is false?
A)Sampling error is the difference between the true parameter and the sample estimate.
B)Sampling error is a result of unavoidable random variation in a sample.
C)A sampling frame is chosen from the target population in a statistical study.
D)The target population must first be defined by a full list or data file of all individuals.
Answer: D
Q2) Nominal data refer to data that can be ordered in a natural way.
A)True
B)False
Answer: False
Q3) Numerical data can be either discrete or continuous.
A)True
B)False
Answer: True
Q4) Responses on a seven-point Likert scale are usually treated as ratio data.
A)True
B)False
Answer: False
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Chapter 3: Describing Data Visually
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Q1) A dot plot would be useful in visualizing scores on an exam in a class of 30 students.
A)True
B)False
Answer: True
Q2) Students were asked to record how many hours they worked at an outside job last week. Their answers are shown below. (a) Make a dot plot. (b) Use your judgment to construct a frequency distribution using whatever classes (bins) you wish. (c) Make a histogram. (d) Describe the distribution. (e) Did your bin choices agree with Sturges' Rule? If not, why not?
Answer: \[\begin{array} { c c c c c }
2 & 17 & 10 & 37 & 49 \\
36 & 20 & 28 & 37 & 9 \\
50 & 45 & 24 & 0 & 9 \\
35 & 19 & 17 & 0 & 16 \\
47 & 32 & 14 & 23 & 50
\end{array}\] Dot plot suggests right-skewness. Sturges' Rule suggests 5 or 6 classes. Six classes of size 10 would work, though the two 50s are on the end of the top class.
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Page 5
Chapter 4: Descriptive Statistics
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Q1) When using Chebyshev's Theorem, the minimum percentage of sample observations that will fall within two standard deviations of the mean will be __________ the percentage within two standard deviations if a normal distribution is assumed (Empirical Rule).
A)smaller than B)greater than C)the same as
Q2) The sum of the deviations around the mean is always zero.
A)True
B)False
Q3) The position of the median is:
A)n/2 in any sample.
B)n/2 if n is even.
C)n/2 if n is odd.
D)(n + 1)/2 in any sample.
Q4) Given the data set 2, 5, 10, 6, 3, the median value is 3.
A)True
B)False
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Chapter 5: Probability
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Q1) Given the contingency table shown here, find the probability that either event A<sub>2</sub> or event B<sub>2</sub> will occur. \[\begin{array} { |c |
\hline{ } & { A _ { 1 } } & A _ { 2 } & A _ { 3 } & A _ { 4 } & \text { Row Total } \\
\hline B _ { 1 } & 12 & 26 & 42 & 68&148 \\
\hline B _ { 2 } & 14 & 28 & 44 & 64 &150\\
\hline B _ { 3 } & 18 & 32 & 47 & 72 &169\\
\hline \text { Col Total } & 44 & 86 & 133 & 204 & 467 \\
\hline
\end{array}\]
A).4454
B).5054
C).0600
Q2) Events A and B are mutually exclusive if P(A B) = 0.
A)True
B)False
Q3) The general law of addition for probabilities says P(A or B) = P(A) P(B).
A)True
B)False
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Chapter 6: Discrete Probability Distributions
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Sample Questions
Q1) If 90 percent of automobiles in Orange County have both headlights working, what is the probability that in a sample of eight automobiles, at least seven will have both headlights working?
A).6174
B).3826
C).8131
D).1869
Q2) The coefficient of variation for a Poisson distribution with = 4 is:
A)35.2 percent.
B)58.9 percent.
C)50.0 percent.
D)26.4 percent.
Q3) A discrete random variable:
A)can be treated as continuous when it has a large range of values.
B)cannot be treated as continuous.
C)is best avoided if at all possible.
D)is usually uniformly distributed.
Q4) A random variable may be discrete or continuous, but not both.
A)True
B)False
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Chapter 7: Continuous Probability Distributions
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Sample Questions
Q1) Normal distributions differ only in their means and variances.
A)True
B)False
Q2) In a T-F exam with 100 questions, passing requires a score of at least 60. What is the approximate normal probability that a "guesser" will score at least 60 points?
A).0287
B).4713
C).0251
D).0377
Q3) The probability is .80 that a standard normal random variable is between -z and +z. The value of z is approximately:
A)1.28.
B)1.35.
C)1.96.
D)1.45.
Q4) The exponential distribution can be either right-skewed or left-skewed, depending on
A)True B)False
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Chapter 8: Sampling Distributions and Estimation
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Sample Questions
Q1) A company wants to estimate the time its trucks take to drive from city A to cityB. The standard deviation is known to be 12 minutes. What sample size is required in order that the error will not exceed ±2 minutes, with 95 percent confidence?
A)12 observations
B)139 observations
C)36 observations
D)129 observations
Q2) In comparing estimators, the more efficient estimator will have a smaller standard error.
A)True
B)False
Q3) The Central Limit Theorem says that, if n exceeds 30, the population will be normal.
A)True B)False
Q4) As n increases, the width of the confidence interval will decrease, ceteris paribus. A)True
B)False
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Chapter 9: One-Sample Hypothesis Tests
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Q1) If the null and alternative hypotheses are H<sub>0</sub>: 100 and H<sub>1</sub>: > 100, the test is right-tailed.
A)True
B)False
Q2) In the nation of Gondor, the EPA requires that half the new cars sold will meet a certain particulate emission standard a year later. A sample of 64 one-year-old cars revealed that only 24 met the particulate emission standard. The test statistic to see whether the proportion is below the requirement is:
A)-1.645
B)-2.066
C)-2.000
D)-1.960
Q3) In testing the hypotheses H<sub>0</sub>: <sub>0</sub>, H<sub>1</sub>: > <sub>0</sub>, we would use a right-tailed test.
A)True
B)False
Q4) Larger samples lead to increased power, ceteris paribus.
A)True
B)False
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Chapter 10: Two-Sample Hypothesis Tests
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Sample Questions
Q1) In comparing the means of two independent samples, if the test statistic indicates a significant difference at = .05, it will also be significant at = .10.
A)True
B)False
Q2) The F test is used to test for the equality of two population variances.
A)True
B)False
Q3) The test statistic in an F test for equal variances is the ratio of the sample variances.
A)True
B)False
Q4) If the sample proportions were p<sub>1</sub> = 12/50 and p<sub>2</sub> = 18/50, the 95 percent confidence interval for the difference of the population proportions is approximately:
A)[-.144, +.244].
B)[-.120, +.120].
C)[-.298, +.058].
D)[-.011, +.214].
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12
Chapter 11: Analysis of Variance
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Q1) Refer to the following MegaStat output (some information is missing). The sample size was n = 65 in a one-factor ANOVA. \(\begin{array}{|l|l|l|l|l|l|l|} \hline
&&\text { Mon }&\text { Fri }&\text { Tue }&\text { Thu }& \text { Wed }\\ &&147.4&197.0&198.1&220.8& 223.6\\
\hline \text { Mon }&147.4&& & & & \\
\hline \text { Fri }&197.0&3.02 & & & & \\
\hline \text { Tue }&198.1&3.08 & 0.07 & & & \\
\hline \text { Thu }&220.8&4.46 & 1.45 & 1.38 & & \\
\hline \text { Wed }&223.6&4.64 & 1.62 & 1.55 & 0.17 & \\
\hline
\end{array}\) Which pairs of days differ significantly? Note: This question requires access to a Tukey table.
A)(Mon, Thu) and (Mon, Wed) only.
B)(Mon, Wed) only.
C)(Mon, Thu) only.
D)(Mon, Thu) and (Mon, Wed) and (Mon, Fri) and (Mon, Tue).
Q2) What is GLM, and why do we need it?
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Chapter 12: Simple Regression
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Sample Questions
Q1) In a simple regression, the correlation coefficient r is the square root of R<sup>2</sup>.
A)True
B)False
Q2) A prediction interval for Y is widest when X is near its mean.
A)True
B)False
Q3) "High leverage" would refer to a data point that is poorly predicted by the model (large residual).
A)True
B)False
Q4) The total sum of squares (SST) will never exceed the regression sum of squares (SSR).
A)True
B)False
Q5) Autocorrelated errors are not usually a concern for regression models using cross-sectional data.
A)True
B)False
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Chapter 13: Multiple Regression
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Sample Questions
Q1) Evans' Rule says that if n = 50 you need at least 5 predictors to have a good model.
A)True
B)False
Q2) A regression with 72 observations and 9 predictors violates:
A)Evans' Rule.
B)Klein's Rule.
C)Doane's Rule.
D)Sturges' Rule.
Q3) When we have no prior guidance on which combination of predictors is best, we might consider:
A)Log transformations.
B)Decimal transformations.
C)Logistic regression.
D)Best subsets regression.
Q4) A high variance inflation factor (VIF) indicates a significant predictor in the regression.
A)True
B)False
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Page 15
Chapter 14: Time Series Analysis
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Sample Questions
Q1) The fitted sales trend over the last 12 years is y<sub>t</sub> = 14.7e<sup>0.063</sup><sup>t</sup>. We can say that:
A)sales grew (on average) at 63 percent per annum.
B)sales in year 10 would be about 39.
C)a continuously compounded model was used.
D)sales in year 1 were 14.7.
Q2) In exponential smoothing, using = .20 will provide less smoothing than using = .10.
A)True
B)False
Q3) An attraction of MAPE as a measure of fit is its simple interpretation. A)True
B)False
Q4) A quadratic trend equation y<sub>t</sub> = 900 + 30t - 2.5t<sup>2</sup> was fitted to a company's sales. This result implies that the sales trend:
A)hit a maximum in period t = 30.
B)hit a maximum in period t = 6.
C)hit a minimum in period t = 5.
D)hit a minimum in period t = 6.
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Page 16
Chapter 15: Chi-Square Tests
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Q1) A large negative chi-square test statistic would indicate that the null hypothesis should be rejected.
A)True
B)False
Q2) Goodness-of-fit tests using the ECDF (Empirical Cumulative Distribution Function) compare the actual cumulative frequencies with expected cumulative frequencies for each observation under the assumption that the data came from the hypothesized distribution.
A)True
B)False
Q3) You test a hypothesis of independence of two variables. The number of observations is 500 and you have classified the data into a 4 by 4 contingency table. The test statistic has __________ degrees of freedom.
A)16
B)9
C)499
D)498
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Chapter 16: Nonparametric Tests
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Q1) The Friedman test is often almost as powerful as two-factor ANOVA without replication (randomized block design).
A)True
B)False
Q2) Spearman's rank correlation is named for a British brewer who was testing beer samples.
A)True
B)False
Q3) Most nonparametric tests assume ordinal data.
A)True
B)False
Q4) At the Food Barn, children can order from the adult menu (A) or the child's menu (C). Below is the pattern of menu orders for 24 children last Wednesday evening. A, A, A, A, C, A, A, C, C, C, A, A, A, A, A, A, C, C, C, A, C, C, C, C Which test would you choose to see if this pattern is random?
A)Kruskal-Wallis test
B)Wilcoxon rank sum (Mann-Whitney) test
C)Wald-Wolfowitz one-sample runs test
D)Wilcoxon test
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Chapter 17: Quality Management
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Q1) A major goal in statistical quality control is the reduction of variation in a process.
A)True
B)False
Q2) Likely reasons for inaccurate control limits would include which of the following?
A)The engineering parameter for variance is unknown.
B)The engineers were underpaid for their work.
C)There was insufficient preliminary sampling.
D)Process variation was not zero, as expected.
Q3) Which is most applicable when continuous inspection is used?
A)I-chart
B)c-chart
C)p-chart
D) \(\overline { x ^ { * } }\)
Q4) Pareto charts show the frequency of problems that affect a process in descending order.
A)True
B)False
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