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QNT 351 Final Exam Guide
(New)
QNT 351 Final Exam Guide
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1) The main purpose of
descriptive statistics is to
2) The general process of
gathering, organizing,
summarizing, analyzing,
and interpreting data is
called
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Q1
The Director of Golf for a
local course wants to study
the number of rounds
played by members on
weekdays. He gathered the
sample information shown
below for 520 rounds. At
the .05 significance level, is
there a difference in the
number of rounds played by
day of the week?
QNT 351 Week 1 Connect
Problems
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QNT 351 Week 1 Connect
Problem
1. Which of the following is
an example of a continuous
variable?
2. The incomes of 50 loan
applicants are obtained.
Which level of
measurement is income?
QNT 351 Week 1 DQ 1
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Week 1 DQ1
Where would you see
descriptive statistics used
in your work place?
QNT 351 Week 1 DQ 2
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Week 1 DQ2
How would you define
dependent and
independent variables?
What is their significance
in research? Explain with
examples.
QNT 351 Week 1 DQ 3
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Week 1 DQ3
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Develop five demographic
questions to measure
gender, age, years of
experience, level of
education, and ethnicity.
Identify the level of
measurement used for each
QNT 351 Week 1 DQ 4
QNT 351 Week 1 DQ 5
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Week 1 DQ4
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Week 1 DQ5
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How would you define a
variable? What is the
difference between a
dependent and
independent variable? Do
you think both variables
are used in every research?
Explain why or why not.
Provide examples.
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What is the importance of
statistics in business
decision making? Describe a
business situation where
statistics was used in
making a decision.
QNT 351 Week 1 DQ 6
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Week 1 DQ6
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What are the four data
measurement scales?
Provide two examples and
explain the importance of
each in business research.
QNT 351 Week 1 Individual
Assignment Statistics in
Business (2 Sets)
 This tutorial contains 2
different Sets of papers
 Define statistics.
 Identify different types of
statistics.
 Describe the role of
statistics in business
decision making.
QNT 351 Week 2 Connect
Problems
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QNT 351 Week 2 Connect
Problem
1. The director of
admissions at Kinzua
University in Nova Scotia
estimated the distribution
of student admissions for
the fall semester on the
basis of past experience.
QNT 351 Week 2 DQ 1
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Week 2 DQ1
Can mean, median, or mode
be calculated from all
statistical data? Explain
why or why not. When is
the mean the best measure
of central tendency? When
is the median the best
measure of central
tendency?
QNT 351 Week 2 DQ 2
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Week 2 DQ2
Describe a business
situation, other than what
has already been selected
by fellow students or
selected from the team
assignment, where mean
and standard deviation can
be used in decision making.
Describe how calculation of
mean and standard
deviation can help in
making a decision.
QNT 351 Week 2 DQ 3
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Week 2 DQ3
What level of data is a
telephone number? Explain.
QNT 351 Week 2 DQ 4
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Week 2 DQ4
Does all data have a mean,
median, or mode? Why or
why not? When is the mean
the best measure of
central tendency? When is
the median the best
measure of central
tendency?
QNT 351 Week 2 DQ 5
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Week 2 DQ5
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Why is the population shape
a concern when estimating
a mean? What effect does
sample size, n, have on the
estimate of the mean?
QNT 351 Week 2 Individual
Assignment My StatsLab
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QNT 351 Week 2
Individual Assignment My
StatsLab 10 Problems
Week 2 Problems
1.Choose the correct
answer bellow:
A. It is an estimate or
prediction or some other
generalization about a
population based on
information contained in a
sample
QNT 351 Week 2 Learning
Team Assignment Data
Collection (2 Sets)
 This tutorial contains 2
different Sets of papers
 Discuss with your team
whether you have data
from RES/351, and if your
team would like to use one
team member’s data for the
Learning Team assignments
in this course.
QNT 351 Week 3 Connect
Problems
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Award: 10 out of 10.00
points
A sample of 43
observations is selected
from a normal population.
The sample mean is 30, and
the population standard
deviation is 3. Conduct the
following test of
hypothesis using the 0.05
significance level.
QNT 351 Week 3 DQ 1
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Week 3 DQ1
What are the differences
between probability and
coincidence? Can the
probability be more than 1
or less than 0? Explain why
or why not.
QNT 351 Week 3 DQ 2
QNT 351 Week 3 DQ 3
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Week 3 DQ2
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Week 3 DQ3
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What is the role of
probability concepts in
business decision-making?
Provide specific examples.
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What are the basic
differences between a
discrete and a continuous
distribution?
QNT 351 Week 3 DQ 4
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Week 3 DQ4
What are the
characteristics of standard
normal distribution?
Explain how to calculate
the z-test static. Explain
how a z-value is used to
calculate the area under
the distribution and the
meaning of P(0 to z) when
z = 1.96.
QNT 351 Week 3 Individual
Assignment My StatsLab 14Problems (2 Sets)
 QNT 351 Week 3
Individual Assignment My
StatsLab 14-Problems
 This tutorial contains 2
Sets of stats lab problems
also
 This tutorial contains excel
file which can be used to
solve your lab problems
even if the values doesn’t
match
QNT 351 Week 3 Individual
Assignment Real Estate Data
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Resources: Appendix A1 at
the end of Basic Statistics
for Business and Economics
Answer question 68 in the
Data Set Exercises from Ch.
3 of Basic Statistics for
Business and Economics.
QNT 351 Week 3 Team
Assignment Summarizing and
Presenting Data (2 Sets)
 This tutorial contains 2
different Sets of papers
 If using RES/351 data
 Revise the report submitted
in Week Two based on the
feedback provided by the
instructor in the team
assignment, and insight
gained by reading.
QNT 351 Week 4 DQ 1
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Week 4 DQ1
What are some terms
related to hypothesis
testing with which you are
already familiar? Why do
null and alternative
hypotheses have to be
mutually exclusive?
QNT 351 Week 4 DQ 2
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Week 4 DQ2
Why does the significance
level differ among
industries? Will the null
hypothesis be more likely
to be rejected at α = 0.01
than α = 0.10? As the
significance level increases
to α = 0.10 from α = 0.01,
which type error is more
likely to occur? What can be
done to reduce the
likelihood of incurring this
error?
QNT 351 Week 4 DQ 3
QNT 351 Week 4 DQ 4
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Week 4 DQ3
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Week 4 DQ4
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Please explain the five
steps used in hypothesis
testing. How does the fivestep procedure for
hypothesis testing differ
when comparing two
groups using a t- or z-test?
How is the process similar?
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Please explain terms
related to hypothesis
testing; please explain null
and alternate hypotheses,
explain the difference
between two different test
statistics, then define the
equations used in both.
Why do null and alternative
hypotheses have to be
mutually exclusive?
QNT 351 Week 4 Individual
Assignment MyStatsLab 14Problems (2 Sets)
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QNT 351 Week 4
Individual Assignment
MyStatsLab 14-Problems
This tutorial contains 2
Sets of stats lab problems
also
This tutorial contains excel
file which can be used to
solve your lab problems
even if the values doesn’t
match
QNT 351 Week 4 Individual
Assignment Real Estate Data
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Resources: Appendix A1 at
the end of Basic Statistics
for Business and Economics
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Answer question 60 (both
parts a. and b.) in the Data
Set Exercises from Ch. 6 of
Basic Statistics for Business
and Economics.
QNT 351 Week 4 Learning Team
Reflection (2 Sets)
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QNT 351 Week 4 Learning
Team Reflection
This tutorial contains 2
different sets
Discuss the following with
your Learning Team:
The steps in testing a
research hypothesis
Comparing the means of
two or more groups
Calculating the
correlation between two
variables
QNT 351 Week 5 Indivdiual
Assignment MyStatsLab
Problems
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QNT 351 Week 5 Individual
Assignment MyStatsLab
Problems
QNT 351 Week 5 Individual
Assignment Real Estate Data
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Resources: Appendix A1 at
the end of Basic Statistics
for Business and Economics
Answer question 58 in the
Data Set Exercises from Ch.
10 of Basic Statistics for
Business and Economics.
QNT 351 Week 5 Learning
Team Assignment Analyzing
and Interpreting Data Paper
and Presentation
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If using RES/351 data:
Ask your instructor for
specific information
regarding the analysis you
are required to perform for
your data set.
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