BM380 Lesson 6 & 7 Exam SCORE 100 PERCENT 2023 Business Finance

2023 Question 1 The holds that our actual sample is one of the many theoretical samples comprising the assumed bell shaped

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**Question 1**

**The __________ holds that our actual sample is one of the many theoretical samples comprising the assumed bell-shaped curve of possible sample results using the hypothesized value as the center of the bell-shaped distribution.**

**Question options:**

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**a) **

**standard deviation**

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**b) **

**sampling distribution concept**

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**c) **

**standard error of the statistic**

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**d) **

**hypothesized parameter value**

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**Question 2**

**Which of the following is NOT used to test hypotheses?**

**Question options:**

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**a) **

**Sample statistic (mean or percentage)**

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**b) **

**Parameter estimate**

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**c) **

**Standard error of the statistic (mean or percentage)**

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**d) **

**Hypothesized parameter value**

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**Question 3**

**Statistical concepts such as t tests of differences and analysis of variance are forms of __________ analysis.**

**Question options:**

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**a) **

**differences**

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**b) **

**association**

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**c) **

**predictive**

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**d) **

**inference**

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**Question 4**

**__________ are concerned with depicting the typical difference between the values in a set of values.**

**Question options:**

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**a) **

**Cross-tabulations**

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**b) **

**Multiple regressions**

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**c) **

**Standard deviations**

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**d) **

**Measures of variability**

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**Question 5**

**The two types of statistical inferences often used by marketing researchers are:**

**Question options:**

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**a) **

**frequency distributions and standard deviations.**

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**b) **

**regression analyses and measures of variability.**

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**c) **

**parameter estimates and hypothesis tests.**

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**d) **

**descriptive analyses and predictive analyses.**

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**Question 6**

**__________ analysis determines the strength and direction of relationships between two or more variables.**

**Question options:**

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**a) **

**Differences**

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**b) **

**Association**

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**c) **

**Predictive**

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**d) **

**Inference**

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**Question 7**

**Which of the following refers to a measure of the variability in the sampling distribution based on what is theoretically believed to occur if we were to take a multitude of independent samples from the same population?**

**Question options:**

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**a) **

**Multiple variance analysis**

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**b) **

**Variance**

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**c) **

**Standard error**

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**d) **

**Predictive analysis**

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**Question 8**

**The __________ is a descriptive analysis measure defined as that value in a string of numbers that occurs most often.**

**Question options:**

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**a) **

**uncertainty**

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**b) **

**contrast**

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**c) **

**mode**

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**d) **

**mean**

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**Question 9**

**Suppose we wish to test the hypothesis that an internship program allows its interns to earn $2,750 per semester and let us assume that this hypothesis is, in fact, true. Which of the following best illustrates the logic of hypothesis testing at the 95% confidence level?**

**Question options:**

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**a) **

**From among 100 samples, 95 percent of them would generate means that fell within ±1.96 z scores.**

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**b) **

**From among 99 samples, 100 percent of them would generate means that fell within ±2.58 z scores.**

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**c) **

**From among 100 samples, 95 percent of them would generate means that fell within ±2.58 z scores.**

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**d) **

**From among 100 samples, 99 percent of them would generate means that fell within ±1.96 z scores.**

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**Question 10**

**Statistical procedures and models are available to the marketing researcher to help make forecasts about future events, and these fall under the category of __________ analysis.**

**Question options:**

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** **

**a) **

**differences**

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**b) **

**association**

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**c) **

**predictive**

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**d) **

**inference**

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**Question 11**

**The square of standard deviation is known as:**

**Question options:**

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**a) **

**a median.**

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**b) **

**variance.**

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**c) **

**standard deviation.**

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**d) **

**sample size.**

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**Question 12**

**Statistical concepts such as range and standard deviation are forms of __________ analysis.**

**Question options:**

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** **

**a) **

**differences**

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**b) **

**association**

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**c) **

**predictive**

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**d) **

**descriptive**

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**Question 13**

**The proper command sequence in SPSS to generate a confidence interval for a mean is:**

**Question options:**

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**a) **

**ANALYZE-COMPARE MEANS-ONE-SAMPLE T TEST.**

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**b) **

**ANALYZE-COMPARE MEANS-MEANS.**

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**c) **

**ANALYZE-COMPARE MEANS-PAIRED SAMPLE T TEST.**

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**d) **

**ANALYZE-COMPARE MEANS-INDEPENDENT SAMPLE T TEST.**

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**Question 14**

**The __________ identifies the distance between lowest value and the highest value in an ordered set of values.**

**Question options:**

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**a) **

**median**

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**b) **

**variance**

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**c) **

**standard deviation**

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**d) **

**range**

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**Question 15**

**________ is defined as the process of describing a dataset by computing a small number of statistics that characterize various aspects of the data.**

**Question options:**

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**a) **

**Data normalization**

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**b) **

**Data mining**

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**c) **

**Data analysis**

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**d) **

**Data coding**

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**Question 16**

**Multiple regression is a form of __________ analysis.**

**Question options:**

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**a) **

**difference**

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**b) **

**association**

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**c) **

**relationships**

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**d) **

**inference**

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**Question 17**

**__________ analysis is used by marketing researchers to describe the sample dataset in such a way as to portray the typical respondent and to reveal the general pattern of responses.**

**Question options:**

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**a) **

**Differences**

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**b) **

**Association**

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**c) **

**Predictive**

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**d) **

**Descriptive**

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**Question 18**

**A demographic question such as “What is your gender?” should have which of the following central tendency measure for the responses?**

**Question options:**

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**a) **

**Mode**

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**b) **

**Variance**

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**c) **

**Median**

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**d) **

**Range**

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**Question 19**

**A demographic question such as “On a scale of 1 to 5, how does Starbucks rate on variety of its coffee drinks?” should have which of the following central tendency measure for the responses?**

**Question options:**

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**a) **

**Mode**

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**b) **

**Variance**

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**c) **

**Median**

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**d) **

**Mean**

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**Question 20**

**A 99 percent confidence interval allows us to say that if we took many samples from the population:**

**Question options:**

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**a) **

**the whole sample would contain a range that included the population parameter.**

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**b) **

**99 percent of all the samples would contain a range that included the population parameter.**

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**c) **

**99 percent of all the samples would allow us to estimate the mean within ±1 percent.**

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**d) **

**1 percent of all the samples would contain a range that included the population parameter.**

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**Lesson 7 Exam**

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**Question 21**

**Iams marketing over 20 different types of dog food, Toyota marketing over 20 different types of cars, and Boeing having five different types of commercial jets and a separate business jets division are all examples of:**

**Question options:**

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**a) **

**differing markets strategy.**

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**b) **

**marketing variation.**

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**c) **

**market segmentation.**

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**d) **

**market separation.**

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**Question 22**

**Which type of relationship is described by relationships that may be S-shaped or J-shaped?**

**Question options:**

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**a) **

**Causal relationship**

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**b) **

**Linear relationship**

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**c) **

**Curvilinear relationship**

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**d) **

**Nonmonotonic relationship**

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**Question 23**

**Which of the following is NOT part of the advantages that ANOVA has over performing multiple t tests of the significance of the differences between means?**

**Question options:**

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**a) **

**It immediately notifies the researcher if there is any significant difference.**

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**b) **

**All the researcher needs to do is look at the “Sig.”**

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**c) **

**It arranges the means so the significant differences can be located.**

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**d) **

**SPSS will only do ANOVA tests, not t tests of the differences between means.**

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**Question 24**

**To be useful to the marketing researcher or manager, differences must be:**

**Question options:**

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**a) **

**meaningful.**

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**b) **

**stable.**

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**c) **

**actionable.**

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**d) **

**All of the above**

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**Question 25**

**We know that McDonald’s customers drink coffee for breakfast and soft drinks at lunch. This is an example of what type of relationship?**

**Question options:**

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**a) **

**Causal relationship**

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**b) **

**Linear relationship**

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**c) **

**Monotonic relationship**

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**d) **

**Nonmonotonic relationship**

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**Question 26**

**The owner of a shoe store knows that as children increase in age, their shoe size tends to get larger. This is an example of what type of relationship?**

**Question options:**

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**a) **

**Causal relationship**

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**b) **

**Duotonic relationship**

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**c) **

**Monotonic relationship**

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**d) **

**Nonmonotonic relationship**

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**Question 27**

**What is used to determine whether a nonmonotonic relationship exists between two nominal-scaled variables?**

**Question options:**

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**a) **

**Tabulation analysis and t tests**

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**b) **

**Cross-tabulation and chi-square tests**

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**c) **

**Cross-tabulation and t tests**

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**d) **

**Tabulation analysis and chi-square tests**

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**Question 28**

**Let’s assume there are juniors, seniors, and graduate students in your class and we want to know if their average GPAs differ. What is the proper statistical test?**

**Question options:**

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**a) **

**t test**

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**b) **

**means/differences test**

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**c) **

**Levene’s test**

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**d) **

**ANOVA**

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**Question 29**

**A meaningful difference is one that the marketing manager:**

**Question options:**

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**a) **

**can potentially use as a basis for marketing decisions.**

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**b) **

**deems to be statistically significant.**

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**c) **

**finds to be at a ratio of 2 to 1.**

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**d) **

**finds to be stable over at least a week or so.**

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**Question 30**

**To test whether a true difference exists between two group percentages, we test the __________ hypothesis.**

**Question options:**

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**a) **

**z**

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**b) **

**t**

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**c) **

**z or t hypothesis; it does not matter**

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**d) **

**null**

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**Question 31**

**The fact that different segments of flu or cold sufferers will consistently seek different medications targeted at their symptoms (sore throat, nasal congestion, cough, etc.) illustrates the use of differences that are:**

**Question options:**

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**a) **

**significant.**

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**b) **

**meaningful.**

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**c) **

**stable.**

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**d) **

**actionable.**

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**Question 32**

**Fortunately, when testing for differences, you will not need to be concerned whether to use the t or z test because:**

**Question options:**

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**a) **

**the z is easier to calculate and to interpret and should always be used.**

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**b) **

**the t is more widely known among statisticians and should always be used.**

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**c) **

**assumptions of the z and t are minimal and are of concern only to statisticians.**

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**d) **

**SPSS, and most statistical software packages, are programmed to use the correct statistic.**

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**Question 33**

**In order to be potentially useful for a marketing manager, differences must at minimum be:**

**Question options:**

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**a) **

**at a ratio of 2 to 1.**

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**b) **

**statistically significant.**

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**c) **

**new and not part of existing knowledge.**

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**d) **

**at a ratio of 10 to 1.**

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**Question 34**

**Which BEST represents the correct meaning of statistical significance of differences?**

**Question options:**

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**a) **

**The differences found in sample data may be found in other sample data.**

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**b) **

**The differences found in sample data may be assumed to exist in the remainder of the sample.**

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**c) **

**The differences found in the sample may be assumed to exist in the population.**

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**d) **

**The differences found in the population may be assumed to exist in the sample.**

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**Question 35**

**A cross-tabulation table is sometimes referred to as a:**

**Question options:**

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**a) **

**tabular table.**

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**b) **

**nonmonotonic display table.**

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**c) **

**r x c table.**

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**d) **

**t x n table.**

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**Question 36**

**The t value is used for many tests instead of the z value because:**

**Question options:**

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**a) **

**it is easier to calculate and to interpret.**

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**b) **

**it is more widely known among statisticians.**

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**c) **

**assumptions of the z value are violated if sample size is 30 or less.**

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**d) **

**it is available on statistical software packages.**

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**Question 37**

**The four basic types of relationships between two variables are:**

**Question options:**

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**a) **

**nonmonotonic, duotonic, linear, and curvilinear.**

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**b) **

**nonmonotonic, duotonic, sublinear, and curvilinear.**

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**c) **

**nonmonotonic, monotonic, linear, and curvilinear.**

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**d) **

**causal, consistent, systematic, and linear.**

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**Question 38**

**You do not have a “relationship” that links the labels (or levels) for two variables unless the relationship is:**

**Question options:**

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**a) **

**causal and consistent.**

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**b) **

**consistent and systematic.**

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**c) **

**systematic and causal.**

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**d) **

**systematic and important.**

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**Question 39**

**In your textbook, you learn to test for significant differences between:**

**Question options:**

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**a) **

**two percentages or two means.**

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**b) **

**two percentages or three percentages.**

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**c) **

**two means or three percentages.**

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**d) **

**three or more percentages.**

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**Question 40**

**If you were to find a significant association between two nominally scaled variables, a good way to present the findings in your cross-tabulation table would be to use:**

**Question options:**

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**a) **

**a p value for each nonmonotonic relationship found.**

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**b) **

**a Sig. value for each nonmonotonic relationship found.**

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**c) **

**graphical presentations.**

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**d) **

**numerical presentations that clearly indicate the direction and strength of the relationship.**

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