A random sample of 30 executives from companies with assets over $1 million was selected and asked for their annual income and level of education. The ANOVA comparing the average income among three levels of education rejected the null hypothesis. The Mean Square Error (MSE) was 243.7. The following table summarized the results:
1. When comparing the mean salaries to test for differences between treatment means, the t statistic is based on:
A) The treatment degrees of freedom.
B) The total degrees of freedom.
C) The error degrees of freedom
D) The ratio of treatment and error degrees of freedom
2. When comparing the mean annual incomes for executives with Undergraduate and Master's Degree or more, the following 95% confidence interval can be constructed:
A) 2.0 �b 2.052*6.51
B) 2.0 �b 3.182*6.51
C) 2.0 �b 2.052*42.46
D) None of the above
3. Based on the comparison between the mean annual incomes for executives with Undergraduate and Master's Degree or more,
A) A confidence interval shows that the mean annual incomes are not significantly different.
B) The ANOVA results show that the mean annual incomes are significantly different.
C) A confidence interval shows that the mean annual incomes are significantly different.
D) The ANOVA results show that the mean annual incomes are not significantly different.
4. When comparing the mean annual incomes for executives with a High School education or less and Undergraduate Degree, the 95% confidence interval shows an interval of 11.7 to 42.7 for the difference. This result indicates that
A) There is no significant difference between the two incomes.
B) The interval contains a difference of zero.
C) Executives with and Undergraduate Degree earn significantly more than executives with a High School education or less.
D) Executives with and Undergraduate Degree earn significantly less than executives with a High School education or less.
QUESTION TWO
A sales manager for an advertising agency believes there is a relationship between the number of contacts and the amount of the sales. To verify this believe, the following data was collected:
5. What is the value of the coefficient of determination?
A) 9.3104
B) 0.9754
C) 0.6319
D) 0.9513
6. The 95% confidence interval for 30 calls is
A) 55.8, 51.5
B) 51.4, 55.9
C) 46.7, 60.6
D) 31.1, 76.2
7. What is the regression equation?
A) Y' = 2.1946 �V 12.201X
B) Y' = �V12.201 + 2.1946X
C) Y' = 12.201 + 2.1946X
D) Y' = 2.1946 + 12.201X
QUESTION THREE
The table below shows the sales for a plastics manufacturer recorded over the past year. The seasonal indexes for each quarter are also provided. To track the trend for these four quarters, use the indexes to deseasonalize the sales data
8. What is the deseasonalized sales value for quarter 1?
A) 553.5
B) 984
C) 588
D) 184.5
9. What is the deseasonlized sales value for quarter 3?
A) 251.16
B) 944.84
C) 988.43
D) 1147.16
10. Sales are
A) increasing.
B) Decreasing.
C) show no trend.
D) cannot be determined.