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Business Statistics — Quiz Answers

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41
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Based on the regression equation, what price maximizes the number of units sold, and how many units will be sold?

A
The maximum number of units sold is 12 comma 480 when the price is 294 point 5 8 dollars.
B
Maximum units sold is 1 comma 248 when the price is 294 point 5 8 dollars.
C
The maximum number of units sold is 12 comma 480 when the price is 300 dollars.
D
The maximum number of units sold is 1 comma 248 when the price is 300 dollars.
42
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Which statement about the scatterplot is true?

A
More office space per employee always results in higher employee satisfaction.
B
There's no consistent trend showing how changes in office space per employee affect satisfaction levels.
C
Increasing office space per employee initially increases satisfaction, but too much space lowers it after a certain point.
D
Reducing the amount of office space per employee leads to greater satisfaction.
43

Based on the regression model, which statement is true?

A
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.
B
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.
C
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.
D
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.
44

Use the regression calculator to determine the regression equation.

Answer:

5.446|-40.13|124.5

45

Which statement about the data is true?

A
Increasing retention programs consistently results in higher turnover rates.
B
The number of retention programs has a clear linear relationship with decreasing turnover rates.
C
As the number of retention programs increases, turnover rates initially decrease but stabilize after a certain point.
D
There is no observable trend or relationship between the number of retention programs and turnover rates.
46

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
47

Which statement about the scatterplot is true?

A
As marketing spending increases, customer acquisition initially rises but begins to show diminishing returns, forming a parabolic curve.
B
Marketing spend has a direct, positive linear correlation with customer acquisition throughout the entire range of spend.
C
There is no clear pattern or correlation between marketing spend and customer acquisition.
D
Higher marketing spending is associated with lower customer acquisition, suggesting a negative linear relationship.
48

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 1 dollars comma 760 comma 152 when the price is 27 dollars.
C
The maximum revenue is 1 dollars comma 760 comma 152 when the price is 26 point 3 7 dollars.
D
The maximum revenue is 176 dollars comma 152 when the price is 27 dollars.
49

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

A
Maximum profit is 24 dollars comma 657 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 247 dollars when the price is 3 dollars.
50

Which statement about the scatterplot is true?

A
Reducing the amount of office space per employee leads to greater satisfaction.
B
Increasing office space per employee initially increases satisfaction, but too much space lowers it after a certain point.
C
More office space per employee always results in higher employee satisfaction.
D
There's no consistent trend showing how changes in office space per employee affect satisfaction levels.
51

Graph the scatterplot made from the data.

Answer:

point; 7; 10; 14; 18; 21; 22; 28; 20; 35

52

Based on the regression equation, what price maximizes the number of units sold, and how many units will be sold?

A
The maximum number of units sold is 1 comma 248 when the price is 300 dollars.
B
The maximum number of units sold is 12 comma 480 when the price is 300 dollars.
C
Maximum units sold is 1 comma 248 when the price is 294 point 5 8 dollars.
D
The maximum number of units sold is 12 comma 480 when the price is 294 point 5 8 dollars.
53

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 84 dollars comma 851 point 7 1 when the price is 30 dollars.
B
The maximum earnings are 84 dollars comma 851 point 7 1 when the price is 33 point 8 2 dollars.
C
The maximum earnings are 86 point 5 6 dollars when the price is 35 dollars.
D
The maximum earnings are 86 point 5 6 dollars when the price is 33 point 8 2 dollars.
54

Graph the scatterplot made from the data.

Answer:

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

55

What membership fee will maximize the profit, and what is the maximum profit? Round to whole dollars.

A
The maximum profit is 683 dollars when the fee is 35 dollars.
B
The maximum profit is 68 dollars comma 380 when the fee is 40 dollars.
C
The maximum profit is 6 dollars comma 838 when the fee is 40 dollars.
D
The maximum profit is 68 point 3 8 dollars when the fee is 35 dollars.
56

Graph the scatterplot made from the data.

Answer:

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

57

What membership fee will maximize the profit, and what is the maximum profit? Round to whole dollars.

A
The maximum profit is 68 point 3 8 dollars when the fee is 35 dollars.
B
The maximum profit is 683 dollars when the fee is 35 dollars.
C
The maximum profit is 6 dollars comma 838 when the fee is 40 dollars.
D
The maximum profit is 68 dollars comma 380 when the fee is 40 dollars.

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