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Business Statistics — Quiz Answers

57 verified answers6 views
21
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Based on the regression model, which statement is true?

A
The earnings will decrease as the hourly charge increases until the price is 85 point 5 0 dollars; if the price is further increased, the earnings will increase.
B
The earnings will increase as the hourly charge increases until the price is 72 point 7 0 dollars; if the price is further increased, the earnings will decrease.
C
The earnings will increase as the hourly charge increases until the price is 85 point 5 0 dollars; if the price is further increased, the earnings will decrease.
D
The earnings will decrease as the hourly charge increases until the price is 72 point 7 0 dollars, and if the price is further increased, the earnings will increase.
22
Free Preview

Which statement about the scatterplot is true?

A
Marketing spend has a direct, positive linear correlation with customer acquisition throughout the entire range of spend.
B
There is no clear pattern or correlation between marketing spend and customer acquisition.
C
Higher marketing spending is associated with lower customer acquisition, suggesting a negative linear relationship.
D
As marketing spending increases, customer acquisition initially rises but begins to show diminishing returns, forming a parabolic curve.
23

Based on the regression model, which statement is true?

A
The earnings will increase as the hourly charge increases until the price is 72 point 7 0 dollars; if the price is further increased, the earnings will decrease.
B
The earnings will decrease as the hourly charge increases until the price is 72 point 7 0 dollars, and if the price is further increased, the earnings will increase.
C
The earnings will decrease as the hourly charge increases until the price is 85 point 5 0 dollars; if the price is further increased, the earnings will increase.
D
The earnings will increase as the hourly charge increases until the price is 85 point 5 0 dollars; if the price is further increased, the earnings will decrease.
24

Using a regression calculator, which quadratic equation best models the relationship between the number of machines and production output?

A
y=−2.5⁢x2−58⁢x+8
B
y=2.5⁢x2+58⁢x−8
C
y=−2.5⁢x2+58⁢x−8
D
y=2.5⁢x2−58⁢x−8
25

Use the regression calculator to determine the regression equation.

Answer:

4.554|−33.88|109.5

26

Which statement about the scatterplot is true?

A
Investing more in research and development initially increases innovation, but more investment yields less return after a certain point.
B
The relationship between research and development spending and innovation output could be more consistent and predictable.
C
More money spent on research and development guarantees better innovation outcomes consistently.
D
Decreasing the amount spent on research and development improves innovation outcomes.
27

Use the regression calculator to determine the regression equation.

Answer:

4.554|−33.88|109.5

28

Graph the scatterplot made from the data.

Answer:

point; 15; 25; 30; 45; 50; 60; 40; 75; 20

29

Use the regression calculator to determine the regression equation.

Answer:

5.446|-40.13|124.5

30

Use the regression calculator to determine the regression equation.

Answer:

10.09|-79.05|219.5

31

Which statement about the scatterplot is true?

A
When employees train more, they get more done at first, but this does not increase productivity after a while.
B
The fewer employees' training hours, the more productive they are.
C
The more training hours employees receive, the more productive they become.
D
There's no real connection between how many hours employees train and their productivity.
32

Based on the regression equation, what price per cup maximizes profit, and what is the maximum profit?

A
Maximum profit is 247 dollars when the price is 3 dollars.
B
Maximum profit is 247 dollars when the price is 4 dollars.
C
Maximum profit is 24 dollars comma 657 when the price is 4 dollars.
D
Maximum profit is 24 dollars comma 657 when the price is 3 dollars.
33

Graph the scatterplot made from the data.

Answer:

point; 2; 4; 5; 10; 8; 12; 11; 14; 3

34

Based on the regression equation, what is the price that maximizes earnings and the maximum earnings amount? Round to whole dollars.

A
The maximum earnings are 86 point 5 6 dollars when the price is 33 point 8 2 dollars.
B
The maximum earnings are 86 point 5 6 dollars when the price is 35 dollars.
C
The maximum earnings are 84 dollars comma 851 point 7 1 when the price is 30 dollars.
D
The maximum earnings are 84 dollars comma 851 point 7 1 when the price is 33 point 8 2 dollars.
35

Using a regression calculator, which quadratic equation best models the relationship between the number of machines and production output?

A
y=2.5⁢x2−58⁢x−8
B
y=−2.5⁢x2−58⁢x+8
C
y=2.5⁢x2+58⁢x−8
D
y=−2.5⁢x2+58⁢x−8
36

Graph the scatterplot made from the data.

Answer:

point; 5; 8; 10; 16; 15; 20; 18; 25

37

Which statement about the scatterplot is true?

A
The relationship between research and development spending and innovation output could be more consistent and predictable.
B
More money spent on research and development guarantees better innovation outcomes consistently.
C
Decreasing the amount spent on research and development improves innovation outcomes.
D
Investing more in research and development initially increases innovation, but more investment yields less return after a certain point.
38

Use the regression calculator to determine the regression equation.

Answer:

4.554|−33.88|109.5

39

What is the price that maximizes revenue, and what is the maximum revenue?

A
The maximum revenue is 176 dollars comma 152 when the price is 26 point 3 7 dollars.
B
The maximum revenue is 176 dollars comma 152 when the price is 27 dollars.
C
The maximum revenue is 1 dollars comma 760 comma 152 when the price is 27 dollars.
D
The maximum revenue is 1 dollars comma 760 comma 152 when the price is 26 point 3 7 dollars.
40

Using a regression calculator, which quadratic equation best models the relationship between the number of bug fixes and development time?

A
y=−0.1464⁢x2+4.782⁢x+71.5
B
y=0.1464⁢x2−4.782⁢x+71.5
C
y=−0.1464⁢x2−4.782⁢x+75.5
D
y=0.0146⁢x2−4.782⁢x+71.5

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