Week 4 Knowledge Check Study Guide
Week 4 Knowledge Check Study Guide
Concepts
Mastery
LEVEL OF DATA
MEASUREMENT
Questions
100%
1
100%
2
100%
3
100%
4
100%
5
100%
6
100%
7
CONFIDENCE
INTERVAL FOR THE
MEAN
PROBABILITY RULES
LINEAR REGRESSION
PREDICTION
INTERPRETING P
VALUE
VISION
EXTERNAL AND
INTERNAL
Score: 20 / 20
ENVIRONMENTS
OBJECTIVES AND
100%
8
100%
9
100%
10
100%
11
100%
12
BALANCE SHEET
100%
13
FIFO AND LIFO
100%
14
INTERNAL CONTROLS
100%
15
100%
16
GOALS
SOCIAL
RESPONSIBILITY
STRATEGIC CONTROL
FINANCIAL
STATEMENTS
GAAP (GENERALLY
ACCEPTED
ACCOUNTING
PRINCIPLES)
DEPRECIATION AND
AMORTIZATION
CALCULATING
INTEREST EXPENSE
100%
17
100%
18
100%
19
100%
20
PREFERRED STOCK
VERSUS COMMON
STOCK
ANALYSES OF
FINANCIAL
STATEMENTS
INTERNAL CONTROLS
AFTER THE SARBANES
OXLEY ACT
Concept: LEVEL OF DATA MEASUREMENT
Mastery
1.
100%
Questions
1
A fast-food restaurant asks customers to evaluate the drive-thru service as good, average, or poor. What level of data measurement is this classification?
A.
Nominal
B.
Ordinal
C.
Interval
D.
Ratio
Correct:
The Correct Answer is: B.
Concept: CONFIDENCE INTERVAL FOR THE MEAN
Mastery
2.
100%
Questions
2
In order to determine the average amount spent in November on Amazon.com a random sample of 144 Amazon accounts were selected. The sample mean amount spent in
November was $250 with a standard deviation of $25. Assuming that the population standard deviation is unknown, what is a 95% confidence interval for the population mean amount spent on Amazon.com in November?
A.
($245.88, $254.12)
B.
($247.47, $260.09)
C.
($250.64, $256.92)
D.
($251.34, $256.22)
Correct:
The Correct Answer is: A.
Concept: PROBABILITY RULES
Mastery
100%
Questions
3
3.
A shipment of 20 DVDs has arrived at a video rental store. Based on past experience, the manager knows that 10% of all new DVDs sent to the store have a visible defect. The manager tells you to begin inspecting the new DVDs one at a time at random
Concepts
Mastery
LEVEL OF DATA
MEASUREMENT
Questions
100%
1
100%
2
100%
3
100%
4
100%
5
100%
6
100%
7
CONFIDENCE
INTERVAL FOR THE
MEAN
PROBABILITY RULES
LINEAR REGRESSION
PREDICTION
INTERPRETING P
VALUE
VISION
EXTERNAL AND
INTERNAL
Score: 20 / 20
ENVIRONMENTS
OBJECTIVES AND
100%
8
100%
9
100%
10
100%
11
100%
12
BALANCE SHEET
100%
13
FIFO AND LIFO
100%
14
INTERNAL CONTROLS
100%
15
100%
16
GOALS
SOCIAL
RESPONSIBILITY
STRATEGIC CONTROL
FINANCIAL
STATEMENTS
GAAP (GENERALLY
ACCEPTED
ACCOUNTING
PRINCIPLES)
DEPRECIATION AND
AMORTIZATION
CALCULATING
INTEREST EXPENSE
100%
17
100%
18
100%
19
100%
20
PREFERRED STOCK
VERSUS COMMON
STOCK
ANALYSES OF
FINANCIAL
STATEMENTS
INTERNAL CONTROLS
AFTER THE SARBANES
OXLEY ACT
Concept: LEVEL OF DATA MEASUREMENT
Mastery
1.
100%
Questions
1
A fast-food restaurant asks customers to evaluate the drive-thru service as good, average, or poor. What level of data measurement is this classification?
A.
Nominal
B.
Ordinal
C.
Interval
D.
Ratio
Correct:
The Correct Answer is: B.
Concept: CONFIDENCE INTERVAL FOR THE MEAN
Mastery
2.
100%
Questions
2
In order to determine the average amount spent in November on Amazon.com a random sample of 144 Amazon accounts were selected. The sample mean amount spent in
November was $250 with a standard deviation of $25. Assuming that the population standard deviation is unknown, what is a 95% confidence interval for the population mean amount spent on Amazon.com in November?
A.
($245.88, $254.12)
B.
($247.47, $260.09)
C.
($250.64, $256.92)
D.
($251.34, $256.22)
Correct:
The Correct Answer is: A.
Concept: PROBABILITY RULES
Mastery
100%
Questions
3
3.
A shipment of 20 DVDs has arrived at a video rental store. Based on past experience, the manager knows that 10% of all new DVDs sent to the store have a visible defect. The manager tells you to begin inspecting the new DVDs one at a time at random