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Question 1 of 20
1. Question
In a frequency table, the frequency associated with a class interval represents:
Correct
Frequency is the number of observations falling within a specified class interval or category.
Incorrect
Frequency is the number of observations falling within a specified class interval or category.
Unattempted
Frequency is the number of observations falling within a specified class interval or category.
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Question 2 of 20
2. Question
A bank records complaint categories with counts: ATM 18, mobile app 31, cards 12, and branch service 21. What is the modal category?
Correct
The mode is the category with the highest frequency. Mobile app complaints have the highest count, 31.
Incorrect
The mode is the category with the highest frequency. Mobile app complaints have the highest count, 31.
Unattempted
The mode is the category with the highest frequency. Mobile app complaints have the highest count, 31.
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Question 3 of 20
3. Question
Branch staffing and customer satisfaction are positively correlated. What is the most appropriate interpretation?
Correct
Correlation alone cannot establish causation. Factors such as branch size, service demand or management quality may affect both staffing and satisfaction.
Incorrect
Correlation alone cannot establish causation. Factors such as branch size, service demand or management quality may affect both staffing and satisfaction.
Unattempted
Correlation alone cannot establish causation. Factors such as branch size, service demand or management quality may affect both staffing and satisfaction.
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Question 4 of 20
4. Question
Events A and B are independent when:
Correct
Independence means the occurrence of one event does not change the probability of the other; equivalently P(A∩B)=P(A)P(B) (when defined).
Incorrect
Independence means the occurrence of one event does not change the probability of the other; equivalently P(A∩B)=P(A)P(B) (when defined).
Unattempted
Independence means the occurrence of one event does not change the probability of the other; equivalently P(A∩B)=P(A)P(B) (when defined).
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Question 5 of 20
5. Question
For a fixed confidence level and population variability, increasing sample size generally does what to the margin of error for a mean estimate?
Correct
The standard error decreases in proportion to 1/√n, so a larger sample generally narrows the interval when other factors remain constant.
Incorrect
The standard error decreases in proportion to 1/√n, so a larger sample generally narrows the interval when other factors remain constant.
Unattempted
The standard error decreases in proportion to 1/√n, so a larger sample generally narrows the interval when other factors remain constant.
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Question 6 of 20
6. Question
A bank evaluates capital adequacy under baseline, adverse and severe-stress assumptions. This is most directly:
Correct
Scenario analysis examines outcomes under defined coherent sets of assumptions. It can be used alongside stochastic simulation and stress testing.
Incorrect
Scenario analysis examines outcomes under defined coherent sets of assumptions. It can be used alongside stochastic simulation and stress testing.
Unattempted
Scenario analysis examines outcomes under defined coherent sets of assumptions. It can be used alongside stochastic simulation and stress testing.
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Question 7 of 20
7. Question
If the confidence level is raised from 90% to 99% while sample size and variability stay fixed, the confidence interval will generally:
Correct
A higher confidence level uses a larger critical value, increasing the margin of error and widening the interval.
Incorrect
A higher confidence level uses a larger critical value, increasing the margin of error and widening the interval.
Unattempted
A higher confidence level uses a larger critical value, increasing the margin of error and widening the interval.
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Question 8 of 20
8. Question
The third quartile Q3 is the value below which approximately what percentage of observations lie?
Correct
Q3 is the 75th percentile: approximately 75% of observations are at or below it, subject to the convention used for calculating quartiles.
Incorrect
Q3 is the 75th percentile: approximately 75% of observations are at or below it, subject to the convention used for calculating quartiles.
Unattempted
Q3 is the 75th percentile: approximately 75% of observations are at or below it, subject to the convention used for calculating quartiles.
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Question 9 of 20
9. Question
To keep the same margin of error at a higher confidence level, a researcher will generally need to:
Correct
A higher confidence level increases the critical value. To offset that and maintain the same margin of error, sample size generally must increase.
Incorrect
A higher confidence level increases the critical value. To offset that and maintain the same margin of error, sample size generally must increase.
Unattempted
A higher confidence level increases the critical value. To offset that and maintain the same margin of error, sample size generally must increase.
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Question 10 of 20
10. Question
Why is the median often preferred over the mean for highly skewed income data?
Correct
The median is resistant to extreme high or low values, so it often better represents the centre of a highly skewed income distribution.
Incorrect
The median is resistant to extreme high or low values, so it often better represents the centre of a highly skewed income distribution.
Unattempted
The median is resistant to extreme high or low values, so it often better represents the centre of a highly skewed income distribution.
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Question 11 of 20
11. Question
A grouped table lists ages as 20–29, 30–39 and 40–49. For continuous measurements, what adjustment is commonly used to make the classes continuous?
Correct
For integer-recorded measurements with adjacent inclusive classes, class boundaries can be formed halfway between adjacent limits: 19.5–29.5, 29.5–39.5, and so on.
Incorrect
For integer-recorded measurements with adjacent inclusive classes, class boundaries can be formed halfway between adjacent limits: 19.5–29.5, 29.5–39.5, and so on.
Unattempted
For integer-recorded measurements with adjacent inclusive classes, class boundaries can be formed halfway between adjacent limits: 19.5–29.5, 29.5–39.5, and so on.
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Question 12 of 20
12. Question
For observations 15, 22, 27, 31 and 42, what is the range?
Correct
Range = maximum − minimum = 42 − 15 = 27.
Incorrect
Range = maximum − minimum = 42 − 15 = 27.
Unattempted
Range = maximum − minimum = 42 − 15 = 27.
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Question 13 of 20
13. Question
A regression model has R² = 0.81. In the usual regression interpretation, this means:
Correct
R² of 0.81 means that 81% of the observed variation in the dependent variable is explained by the fitted model in the sample, under the model‘s standard definition.
Incorrect
R² of 0.81 means that 81% of the observed variation in the dependent variable is explained by the fitted model in the sample, under the model‘s standard definition.
Unattempted
R² of 0.81 means that 81% of the observed variation in the dependent variable is explained by the fitted model in the sample, under the model‘s standard definition.
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Question 14 of 20
14. Question
The number of failed ATM transactions in one hour is an example of a:
Correct
A random variable assigns a numerical value to each possible outcome of a random process. A count of failures is discrete.
Incorrect
A random variable assigns a numerical value to each possible outcome of a random process. A count of failures is discrete.
Unattempted
A random variable assigns a numerical value to each possible outcome of a random process. A count of failures is discrete.
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Question 15 of 20
15. Question
In a sample of 400 customers, 100 prefer digital statements. What is the sample proportion?
Correct
The sample proportion is p̂ = 100/400 = 0.25, or 25%.
Incorrect
The sample proportion is p̂ = 100/400 = 0.25, or 25%.
Unattempted
The sample proportion is p̂ = 100/400 = 0.25, or 25%.
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Question 16 of 20
16. Question
Which is a fundamental limitation of simulation?
Correct
Simulation can quantify implications of specified assumptions, but its results are only as credible as the model structure, input data and assumptions.
Incorrect
Simulation can quantify implications of specified assumptions, but its results are only as credible as the model structure, input data and assumptions.
Unattempted
Simulation can quantify implications of specified assumptions, but its results are only as credible as the model structure, input data and assumptions.
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Question 17 of 20
17. Question
In an LP objective function Z=5x+8y, what do 5 and 8 represent?
Correct
The coefficients 5 and 8 represent the contribution to the objective per unit of decision variables x and y, such as profit or service value per unit.
Incorrect
The coefficients 5 and 8 represent the contribution to the objective per unit of decision variables x and y, such as profit or service value per unit.
Unattempted
The coefficients 5 and 8 represent the contribution to the objective per unit of decision variables x and y, such as profit or service value per unit.
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Question 18 of 20
18. Question
If transaction amounts are measured in rupees, variance is measured in:
Correct
Variance is the average squared deviation, so its units are the square of the original units: rupees squared.
Incorrect
Variance is the average squared deviation, so its units are the square of the original units: rupees squared.
Unattempted
Variance is the average squared deviation, so its units are the square of the original units: rupees squared.
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Question 19 of 20
19. Question
A sample mean is 50, standard error is 2, and the chosen z critical value is 1.96. What is the approximate confidence interval?
Correct
The interval is 50 ± 1.96×2 = 50 ± 3.92, giving approximately 46.08 to 53.92.
Incorrect
The interval is 50 ± 1.96×2 = 50 ± 3.92, giving approximately 46.08 to 53.92.
Unattempted
The interval is 50 ± 1.96×2 = 50 ± 3.92, giving approximately 46.08 to 53.92.
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Question 20 of 20
20. Question
Which of the following is a population parameter rather than a sample statistic?
Correct
A population mean is a parameter describing the entire population; a sample mean is a statistic calculated from a sample.
Incorrect
A population mean is a parameter describing the entire population; a sample mean is a statistic calculated from a sample.
Unattempted
A population mean is a parameter describing the entire population; a sample mean is a statistic calculated from a sample.