QBR 501 Final exam

1) Write the following as an algebraic expression using x as the variable: A number decreased by 25 and multiplied by 4 A.  -25x · 4 B.  4(x – 25) C.  4x - 25 D.  x – 25 · 4 2) Write the following as an algebraic expression using x as the variable: A number subtracted from –7 A.  –7(–x) B.  –7 – x C.  –7x D.  x – 7 3) Write the following as an algebraic expression using x as the variable: The sum of a number and -8 A.  -8 - x B.  -8 + x C.  x(-8) D.  -8x 4) Solve: -3 – (-2 + 4) - 5 A.  10 B.  -10 C.  -6 D.  15 5) Solve: 4(32) + 7(3 + 9) – (-6) A.  -468 B.  126 C.  -720 D.  114 6) Solve: (–5)2 · (9 – 17)2 ÷ (–10)2 A.  64 B.  -6.4 C.  -.039 D.  16 7) Identify the variable, constant, and coefficient of the expression: 4h + 8 A.  variable: h; constant: 4; coefficient: 8 B.  variable: h; constant: 8; coefficient: 4 C.  variable: 8; constant: h; coefficient: 4 D.  variable: 4; constant: 8; coefficient: h 8) Identify the variable, constant, and coefficient of the expression: –6g + 9 A.  variable: 9; constant: g; coefficient: –6 B.  variable: –6; constant: g; coefficient: 9 C.  variable: g; constant: –6; coefficient: 9 D.  variable: g; constant: 9; coefficient: –6 9) Identify the variable, constant, and coefficient of the expression: 3p A.  variable: 3; constant: 0; coefficient: p B.  variable: 3; constant: p; coefficient: 3 C.  variable: p; constant: 3; coefficient: 0 D.  variable: p; constant: 0; coefficient: 3 10) Solve the system of equations: 4x + 3y = 1 3x + 2y = 2 A.  { (–1,2) } B.  { (–2,3) } C.  { (1,–1) } D.  { (4,–5) } 11) Solve the system of equations: 3x + 2y = 18 y = 3x A.  { (1,3) } B.  { (3,9) } C.  { (4,3) } D.  { (2,6) } 12) Solve the system of equations: 3x = 7 – y 2y = 14 – 6x A.  { (x,y) ¦ –3x + y = 7 } B.  { (x,y) ¦ 2x + y = 3 } C.  { (x,y) ¦ x + y = 2 } D.  { (x,y) ¦ 3x + y = 7 } 13) Which is true about reporting the Consumer Price Index (CPI)? A.  It reports all commercial prices B.  It is reported by the Federal Reserve C.  It is reported by the Bureau of Labor Statistics D.  It is reported bi-annually 14) Which of the following is true of an index? A.  It cannot assume negative values B.  It can employ qualitative data C.  It must be larger than 100 D.  It shows a percent change from one period to another 15) Which of the following is true of a base period for an index number? A.  It must have occurred after the year 1980 B.  It appears in the denominator C.  It cannot be less than 100 D.  The numerator spears 16) What happens as the number of classes in a histogram decreases? A.  We get better resolution of the data B.  Class intervals become rounder. C.  Class interval width increases. D.  Central tendency becomes more obvious. 17) What is the term for a number of observations in a class in a frequency distribution? A.  Class frequency B.  Class array C.  Class interval D.  Class midpoint 18) Why are unequal class intervals sometimes used in a frequency distribution? A.  To avoid the need for midpoints B.  To make the class frequencies smaller C.  To create variety in presenting the data D.  To avoid a large number of empty classes 19) What is the slope of the line: 6x + 3y = 8 A.  8/3 B.  6 C.  3 D.  -2 20) What is the slope of the line: 3x – y = 6 A.  -1 B.  1/2 C.  2 D.  3 21) What is the slope of the line: 5y – x = 10 A.  -1 B.  1/2 C.  2 D.  1/5 22) Which statement is true of the y-intercept in the linear regression model? A.  The value depends on the slope of the line. B.  It is always a positive value. C.  It is always zero. D.  It may be any value. 23) Which statement is true of a regression line that is superimposed on the scatter plot? A.  It is computed using the maximum and minimum values. B.  It guarantees the largest possible sample variance. C.  It is computed using the Ordinary Least Squares method. D.  It guarantees that the slope and intercept are minimized. 24) The number of hours spent studying appears to be highly correlated with the grade students earn in a class. Which variable would be the dependent variable in a linear regression analysis? A.  The class average B.  Either variable could be the dependent variable C.  Hours spent studying D.  The grade earned 25) What happens to the future value of money when the inflation rate exceeds the interest rate? A.  Not enough information B.  Decreases C.  Increases D.  Stays the same 26) When the interest rate is positive, what happens to the value of money as we move from the future to the present? A.  Not enough information B.  Stays the same C.  Increases D.  Decreases 27) What is the principal balance if the principal plus interest at the end of 1.5 years is $3,360 at an annual interest rate of 8%? A.  $3,000 B.  $2,200 C.  $2,000 D.  $2,800 28) What is class frequency? A.  Usually a multiple of the lower limit of the first class B.  The difference between consecutive lower class limits C.  The number of observations in each class D.  Always contains at least 5 observations 29) What does the horizontal axis of a line chart represent? A.  Percent B.  Time C.  Dollars D.  Variable quantity 30) How is the class midpoint calculated? A.  Divide the class frequency by the number of observations. B.  Find the difference between consecutive lower limits. C.  Divide the class interval in half and add the result to the lower limit. D.  Count the number of observations in the class. 31) What is the relationship among the mean, median, and mode in a symmetric distribution? A.  Mode is the largest value B.  Mean is the smallest value C.  All are equal D.  Mean is the largest value 32) What is a disadvantage of using range as a measure of dispersion? A.  Range is based on only two observations. B.  Range is not in the same units as the original data. C.  Range can be distorted by a large mean. D.  Range is too broad. 33) For which measure of central tendency will the sum of the deviations always be zero? A.  Mode and Median B.  Mean C.  Mode D.  Median 34) Which of the following is true in a normal distribution? A.  The curve stops at plus or minus 3 standard deviations. B.  Mode equals the median. C.  Mean is not equal to the mode or the median. D.  Mean divides the distribution into two unequal parts. 35) Which of the following is true regarding the normal distribution? A.  The total area under the curve is greater than 1 B.  It can have more than one peak C.  Mean, median and mode are all equal D.  It is not always symmetrical 36) Which of the following is a characteristic of a normal distribution? A.  Has a total z-score of 1000 B.  Positively skewed C.  Symmetrical D.  Can be either positively or negatively sk