# BUS 475 Week 4 Knowledge Check Assignment

Pages: 9 (1500 words) Published: January 22, 2015
﻿BUS 475 Week 4 Knowledge Check

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? Nominal
Ordinal
Interval
Ratio

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? (\$245.88, \$254.12)

(\$247.47, \$260.09)
(\$250.64, \$256.92)
(\$251.34, \$256.22)

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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 until you find the first DVD that has a defect. If 10% of the DVDs have a visible defect in the new shipment, what is the probability that the first DVD that has a defect is the 3rd one that you inspect? (Round your answer to 3 decimal places.) .081

.268
.089
.716

4. An insurance agent has selected a sample of drivers that she insures whose ages are in the range from 16–42 years old. For each driver, she records the age of the driver and the dollar amount of claims that the driver filed in the previous 12 months. A scatterplot showing the dollar amount of claims as the response variable and the age as the predictor shows a linear regression line with: y^=3710 – 55.4x. If the age of a driver increases by 1 year, by how much and in what direction would the dollar amount of claims be predicted to change for the driver? Increase by 55.4 dollars

Decrease by 55.4 dollars
Increase by 3710 dollars
Increase by 3,654.6 dollars

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5. A researcher claims that the proportion of employees who play video games in the workplace is higher than it was 10 years ago. You might be willing to reject the null hypothesis of no change with a = 0.10 or larger. The p-value for this test is 0.15. In this case the researcher should not reject the null hypothesis

reject the null hypothesis
continue with further testing because the result is inconclusive change the testing from nonparametric to parametric

6. The general plan of major actions through which a firm intends to achieve is long-term objectives is called its corporate plan
long-term goal
grand strategy
mission

7. How valuable a low-cost leader's cost advantage is depends on whether it is easy or inexpensive for rivals to copy the low-cost leader's methods or otherwise match its low costs how easy it is for the low-cost leader to gain the biggest market share the aggressiveness with which the low-cost leader pursues converting the cost advantage into the absolute lowest possible costs the leader's ability to combine the cost advantage with a reputation for good quality

8. Which of the following represent marketing capabilities at the growth stage of industry evolution? Skills in aggressively promoting products to new markets and holding existing markets and pricing flexibility Ability to establish brand recognition, find niche, reduce price, solidity strong distribution relations and develop new channels Cost effective means of efficient access to selected channels and markets and strong customer loyalty or dependence Resources or skills to create widespread awareness and find acceptance from customers; advantageous access to distribution

9. __________ is an organization structured around the idea of sharing knowledge, seeking knowledge,...

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