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NEW QUESTION 38
An individual surveys 15 people under the age of 40 and asks for their current salary. The resulting histogram is shown below.
How many of those surveyed earn less than or equal to $50,000 a year?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: C
NEW QUESTION 39
A technology company normally sees increased revenues for its cell phones when it raises
prices. However, when the company released an updated version of the phone and charged a higher price, revenues fell. What MOST likely happened to the cell phone market?
- A. The price of land line phones increased significantly.
- B. There was an increase in the number of substitute phones.
- C. Profits earned by the company's suppliers rose.
- D. The price for cell phone plans decreased.
Answer: B
NEW QUESTION 40
An individual interviews 15 people under the age of 40 and asks each for their age and salary. The resulting scatter plot is shown below.
Based on this graph, the correlation between age and salary appears to be approximately:
- A. -0.3
- B. 0.7
- C. -0.7
- D. 0.3
Answer: B
NEW QUESTION 41
A landlocked student believes that people would prefer to live near the ocean if they could afford the additional expense. To test this, the student wants to see whether states bordering an ocean are more likely to have a larger percent of wealthy families than states without an ocean coast. The student collects data from the 50 U.S. states on the percent of families making over $200,000 a year along with whether the state has an ocean coast (where 1 means the state has an ocean coast).
Based on the regression results given below, what can be said at the 95% confidence level?
- A. On average, the wealthy make up 4.12% of the population of states without an ocean coast and 2.77% of states with an ocean coast. The result is statistically significant.
- B. On average, the wealthy make up 4.12% of the population of states without an ocean coast and 6.89% of states with an ocean coast. The result is statistically significant.
- C. On average, the wealthy make up 4.12% of the population of states without an ocean coast and 6.89% of states with an ocean coast. The result is not statistically significant.
- D. On average, the wealthy make up 4.12% of the population of states without an ocean coast and 2.77% of states with an ocean coast. The result is not statistically significant.
Answer: B
NEW QUESTION 42
ABC Furniture Store recently hired a new salesperson and wished to examine how that affected the store's daily furniture sales. Prior to the new salesperson's hire, the store averaged $10,000 worth of sales per day with a standard deviation of $1,500. The store's manager took a random sample of 100 days after the salesperson's date of hire and found that the store averaged $11,500 worth of sales per day. Which of the following options would correctly calculate the 95% range of likely sample means for this hypothesis test? Note that the Excel function is: =CONFIDENCE.NORM(alpha, standard_dev, size)
- A. =11500 +- CONFIDENCE.NORM(0.025,1500,100)
- B. =11500 +- CONFIDENCE.NORM(0.05,1500,100)
- C. = 10000 +- CONFIDENCE.NORM(0.05,1500,100)
- D. =10000 +- CONFIDENCE.NORM(0.025,1500,100)
Answer: C
Explanation:
NEW QUESTION 43
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