**Suppose the auditor wants to test, at a 1% significance level, the**

17 supply chain realted questions. Mutiple choice or true/false

Question 1

Suppose the auditor wants to test, at a 1% significance level, the null hypothesis that the population mean dollar value of the outstanding bills is equal to 130.0 versus the alternative null hypothesis that the population mean dollar value of the outstanding bills is not equal to 130.0. The auditor:

Question 1 options:

-should not reject the null hypothesis.

-should reject the null hypothesis.

-must collect more data before rejecting or not rejecting the null hypothesis.

-cannot reject the null hypothesis with less than a 5% significance level.

Question 2

A government report gives a 99% confidence interval for the proportion of welfare recipients who have been receiving welfare benefits for more than 5 years to be 21% ± 4.5%. Which of the following intervals could not be a 95% confidence interval for the proportion of welfare recipients who have been receiving welfare benefits for more than 5 years?

Question 2 options:

21% ± 4.2%

21% ± 3.76%

21% ± 3.9%

21% ± 4.8%.

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Question 3

Which of the following requires the opinion of an expert to determine the location and characteristics of a definable sample group?

Question 3 options:

-Judgment sample

-Simple random sample

-Systematic sample

-Stratified sample

Question 4

The following sample data were collected: 12.0, 18.3, 29.6, 14.3 and 27.8. The sample standard deviation for this data is equal to _____.

Question 4 options:

2.18

7.93

20.4

23.9

Question 7 (1 point)

An experiment that evaluates the effect of two temperatures (200 and 400 degrees) and two reaction times (50 and 100 minutes) on process yield has ___ possible combinations to test.

Question 7 options:

2

4

6

8

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Question 8 (1 point)

A manager at a market research firm randomly sampled 254 adult residents of Ohio and asked each resident if he/she planned to vacation outside of Ohio this coming summer. Sixty-three of these adults responded that they plan to vacation outside of Ohio this coming summer. What is the 95% confidence interval for the population proportion of adult residents of Ohio who plan to vacation outside of Ohio this coming summer?

Question 8 options:

(0.178, 0.318)

(0.246, 0.250)

(0.195, 0.301)

(0.142, 0.354)

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Question 9 (1 point)

Characteristics of the population are called:

Question 9 options:

-point estimates

-random variables

-statistics

-parameters.

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Question 10 (1 point)

Suppose that a scatter diagram depicts a relationship between the two variables that can be summarized by a straight line. The correlation coefficient is computed and results in a value of -0.73. Which of the following is NOT TRUE?

Question 10 options:

-There is a negative relationship between the two variables.

-Two other variables having a correlation coefficient of -0.87 would have a stronger linear relationship.

-In general, an increase in one variable is associated with an increase in the other variable.

-Even though the correlation coefficient is less than zero, the correlation coefficient still communicates the strength of the linear relationship.

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Question 12 (1 point)

Which of the following is NOT a tool for descriptive statistics?

Question 12 options:

-Frequency distribution

-Regression analysis

-Proportion

-Histogram

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Question 13 (1 point)

A particular type of plastic soap bottle is designed to have a capacity of 15 ounces. There is variation in the bottle manufacturing process. Based on historical data, suppose that bottle capacity can be reasonably modeled by a normal distribution with a mean of 15 ounces and a standard deviation of 0.2 ounces. What proportion of these bottles will have a capacity between 14.7 and 15.1 ounces?

Question 13 options:

0.3830

0.6247

0.8664

0.9876

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________________________________________

Question 14 (1 point)

The "addition law of probability" includes a subtraction step.

Question 14 options:

True

False

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Question 15 (1 point)

The sample range (R) is commonly used as a measure of sample variation (degree of scatter of data) for small sample sizes.

Question 15 options:

True

False

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Question 16 (1 point)

The line that appears in the center of the box in the Box-and-Whisker plot represents the median (not necessarily the mean) of the data.

Question 16 options:

True

False

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Question 17 (1 point)

When you calculate a sample variance the denominator is n because there were n samples (data points).

Question 17 options:

True

False

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Question 18 (1 point)

A probability can only assume values between 0 and 1 (0 to 100%).

Question 18 options:

True

False

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________________________________________

Question 19 (1 point)

The original variation (based on alpha =0.05, the ANOVA for the three suppliers MQPE 8e problem 10-20) between groups to within groups ratio estimate is F= 17.38 (much larger than 3.89) there is a significant difference between suppliers.

However, by inspection of the data, Supplier 2 appears to be the reason for the original results.

Using one-way ANOVA, analyze the difference between supplier 1 and supplier 3. What conclusion can be reached, based on these data?

Question 19 options:

At an alpha of 0.05, there is no reason to believe that suppliers 1 and 3 are different.

At an alpha of 0.05, there is reason to believe that suppliers 1 and 3 are different.

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Question 20 (1 point)

There is only one way to construct a Box-and-Whisker graph.Question 20 options:

True

False

**Category:**Business, General Business

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