QRB 501 Final Exam
QRB 501 Final Exam
1) Write the following as an algebraic expression using x as the variable: Twelve less than six times a number
A. 6x – 12
B. –6x
C. –12(6x)
D. 12 – 6x
2) 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
3) Write the following as an algebraic expression using x as the variable: Triple a number subtracted from the number
A. x - 3x
B. x 3 – x
C. 3x - x
D. 3(x - x)
4) Solve: (–5)2 • (9 – 17)2 ÷ (–10)2
A. 16
B. 64
C. -6.4
D. -.039
5) Solve: 3(-19 + 4) ÷ -5
A. 9
B. -13.8
C. 0.11
D. 13.8
6) Solve: –9 + 18 ÷ –3(–6)
A. 27
B. 90
C. -0.5
D. 0.5
7) Identify the variable, constant, and coefficient of the expression: 10k – 15
A. variable: k; constant: 15; coefficient: 10
B. variable: 10; constant: k; coefficient: –15
C. variable: 15; constant: 10; coefficient: k
D. variable: k; constant: –15; coefficient: 10
8) Identify the variable, constant, and coefficient of the expression: 3p
A. variable: p; constant: 0; coefficient: 3
B. variable: 3; constant: 0; coefficient: p
C. variable: 3; constant: p; coefficient: 3
D. variable: p; constant: 3; coefficient: 0
9) Identify the variable, constant, and coefficient of the expression: x – y
A. variable: x and y; constant: 0; coefficient: 1
B. variable: y; constant: x; coefficient: 0
C. variable: x; constant: –y; coefficient: 1
D. variable: x and y; constant: 0; coefficient: 0
10) Solve the system of equations: 3x = 7 – y, 2y = 14 – 6x
A. { (x,y) ¦ 3x + y = 7 }
B. { (x,y) ¦ –3x + y = 7 }
C. { (x,y) ¦ 2x + y = 3 }
D. { (x,y) ¦ x + y = 2 }
11) Solve the system of equations: 3x + y = –7, x – y = –5
A. { (–3,2) }
B. { (–4,1) }
C. { (–2,–1) }
D. { (1,–8) }
12) Solve the system of equations: 4x + 3y = 1, 3x + 2y = 2
A. { (4,–5) }
B. { (–1,2) }
C. { (–2,3) }
D. { (1,–1) }
13) A man earned $80,000 when the Consumer Price Index was 200. What were his earnings in terms of $2,000 if the base period was 2000?
A. $160,000
B. $40,000
C. $60,000
D. $80,000
14) Which of the following is true of an index?
A. It shows a percent change from one period to another
B. It must be larger than 100
C. It cannot assume negative values
D. It can employ qualitative data
15) Which of the following is true of a base period for an index number?
A. The numerator spears
B. It cannot be less than 100
C. It must have occurred after the year 1980
D. It appears in the denominator
16) What happens as we increase the number of classes in a histogram?
A. Central tendency becomes more obvious
B. Class interval width increases
C. There would be more classes
D. Class intervals become rounder
17) On which axis is time plotted on a simple line chart?
A. On the X-axis
B. On the Y-axis
C. Time is not plotted
D. Either axis
18) Why are unequal class intervals sometimes used in a frequency distribution?
A. To avoid a large number of empty classes
B. To create variety in presenting the data
C. To avoid the need for midpoints
D. To make the class frequencies smaller
19) What is the slope of the line: 2y + 8x = 26
A. -4
B. 8
C. 1/4
D. 2
20) What is the slope of the line: 36x – 9y = 15
A. 4
B. 36
C. 3
D. -5/3
21) What is the slope of the line: 3x – y = 6
A. 3
B. 2
C. -1
D. ½
22) Which statement is true of a regression line that is superimposed on the scatter plot?
A. It is computed using the Ordinary Least Squares method.
B. It guarantees the largest possible sample variance.
C. It is computed using the maximum and minimum values.
D. It guarantees that the slope and intercept are minimized.
23) Which of the following is observed in a scatter plot when there is an inverse relationship between x and y?
A. Points create a horizontal line.
B. Points are mostly in the lower left and upper right quadrants.
C. Points curve up as it moves to the right.
D. Points slope down as it moves to the right.
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. Hours spent studying
B. Either variable could be the dependent variable
C. The class average
D. The grade earned
25) Since money has the ability to earn interest, its value increases with time. What affects the future value of an investment more, the interest rate or the time the investment is held?
A. The interest rate has a larger impact on the future value of the investment.
B. The length of time has more of an impact on the future value of the investment.
C. It depends on the interest rate and the time the investment is held.
D. Both interest and length of time have the same impact on the future value of the investment
26) What happens to the future value of money when the inflation rate exceeds the interest rate?
A. Increases
B. Decreases
C. Not enough information
D. Stays the same
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. $2,000
B. $2,800
C. $3,000
D. $2,200
28) How is a frequency distribution converted to a relative frequency distribution?
A. Find the difference between consecutive lower class limits.
B. Divide the lower limit of the first class by the class interval
C. Multiply the class frequency by 100
D. Divide the class frequency by the total number of observations
29) How is the class midpoint calculated?
A. Divide the class interval in half and add the result to the lower limit.
B. Count the number of observations in the class.
C. Divide the class frequency by the number of observations.
D. Find the difference between consecutive lower limits.
30) What does the horizontal axis of a line chart represent?
A. Dollars
B. Variable quantity
C. Percent
D. Time
31) Which measures of central tendency are not affected by extremely low or extremely high values?
A. Mean and median
B. Mode and median
C. Only the mean
D. Mean and mode
32) For which measure of central tendency will the sum of the deviations always be zero?
A. Mode
B. Median
C. Mode and Median
D. Mean
33) Which measure of dispersion represents variation from the mean?
A. Range
B. Spread
C. Outliers
D. Standard deviation
34) Which of the following is true regarding the normal distribution?
A. Mean, median and mode are all equal
B. It is not always symmetrical
C. The total area under the curve is greater than 1
D. It can have more than one peak
35) Which of the following is a characteristic of a normal distribution?
A. Positively skewed
B. Can be either positively or negatively skewed
C. Has a total z-score of 1000
D. Symmetrical
36) What is the proportion of the total area under the normal curve within plus or minus 2 standard deviations?
A. 68%
B. 95%
C. 100%
D. 99.7%