Statistics & Probability MCQs (Chapterwise Multiple Choice Questions)

_____ are collections of observations.

Random variables

Data

Expected values

Populations

Answer & Explanation

Correct Answer: Data

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What is the cumulative probability at +1 standard deviation, for a random variable with normal distribution?

84.13%

50.00%

2.28%

15.87%

34.13%

Answer & Explanation

Correct Answer: 84.13%

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Which of the following would be appropriate for ANOVA?

Determining whether the average food delivery time from restaurant A is shorter than restaurant B

Determining which of several training programs yields the highest mean performance score on the exit exam

Determining whether an anti-cancer drug increases the number of patients who survive more than one year

Determining whether the percentage of female voters is statistically different than the prior year.

Answer & Explanation

Correct Answer: Determining which of several training programs yields the highest mean performance score on the exit exam

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A manager of a large bank wants to compute the average interest rates across all bonds that the bank invests in. The manager randomly sampled 127 bonds that the bank invests in and calculated the average interest rate over the past year of the sample was 2.47%. What is the parameter of interest in this study?

The 127 bonds used in the calculation.

2.47%

The average interest rate of all bonds that the bank invests in.

All bonds that the bank invests in.

Answer & Explanation

Correct Answer: The average interest rate of all bonds that the bank invests in.

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Event A and Event B are independent and mutually exclusive. True or False: The probability of A must be 0 or the probability of B must be 0.

True

False

Answer & Explanation

Correct Answer: True

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Discrete and continuous data are both forms of _______ data.

incomplete

qualitative

quantitative

None of these

Answer & Explanation

Correct Answer: quantitative

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Which of the following is NOT a characteristic of a Normal distribution?

Defined completely by mean and variance

Unimodal

Right Skewed

Symmetric

Answer & Explanation

Correct Answer: Right Skewed

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What does R^2 (R-Squared) calculate?

The coefficient of variation^2

The squared covariance

The slope of the regression

The closeness of a regression to the underlying data

The point where the regression crosses the Y axis

Answer & Explanation

Correct Answer: The closeness of a regression to the underlying data

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The number of cars that went through a car wash during the noon hour over each of the past 8 days are the following: 5, 9, 2, 3, 3, 9, 8, 6 What is the range of this data?

7

9

5.6

8

Answer & Explanation

Correct Answer: 7

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Where would the outliers be if a distribution had a skewness of 0?

Left

No outliers

Far right

Right

Far left

Answer & Explanation

Correct Answer: No outliers

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Statistics & Probability Quick Quiz

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