UID/Seat Number ________

Student Number |__|__|__|__|__|__|__|__|__|

ANONYMOUSLY MARKED
(Please do not write your name on this exam paper)

PRACTICE TEST PAPER

IN-SEMESTER PRACTICE TEST

Semester n – 20XX

BUSS1020

For Examiner Use Only

WRITING TIME: 1 hour 30 minutes
READING TIME: None

TEST CONDITIONS:
This is a CLOSED book test.
No additional materials are permitted.

MATERIALS PERMITTED IN THE TEST VENUE:

Physical language translation dictionaries
Non-programmable calculators

No electronic devices are permitted e.g., laptops, phones.

MATERIALS TO BE SUPPLIED TO STUDENTS:

Multiple choice answer sheet (Gradescope)
Blank pages of scratch paper

INSTRUCTIONS TO STUDENTS:
• The test contains twenty (20) multiple choice questions.
• Each question is worth 1 mark.
• The total mark for this test is 20.
• Write your responses in the answer booklet provided.

Total ________

Please tick the box to confirm that your test paper is complete.
(8 pages including cover sheet).

Page 1 of 8
Q1.

A simple random sample of n = 300 full-time employees is selected from a company list containing the
names of all N = 5,000 full-time employees in order to evaluate job satisfaction.

Give an example of a possible sampling error.

a) The sample statistics obtained from the sample will not be equal to the parameters of interest
in the population.
b) Ambiguous wording in questions asked on the questionnaire.
c) Only employees in a specific division of the company were included in the sampling frame.
d) No attempt is made to contact nonrespondents to urge them to complete the evaluation of job
satisfaction.

Q2.

A sociologist is conducting a study on social mobility within a city. The study includes measuring
education levels, income, and job titles. Which of the following best describes the measurement
scales used for these three variables?

a) Education: Nominal, Income: Ratio, Job Title: Ordinal

b) Education: Ordinal, Income: Interval, Job Title: Nominal
c) Education: Ordinal, Income: Ratio, Job Title: Nominal
d) Education: Interval, Income: Ordinal, Job Title: Nominal
e) Education: Nominal, Income: Ratio, Job Title: Nominal

Page 2 of 8
Q3.

Call centres today play an important role in managing day-to-day business communications with
customers. Call centres must be monitored with a comprehensive set of metrics so that businesses
can better understand the overall performance of those centres. One key metric for measuring overall
call centre performance is service level, the percentage of calls answered by a human agent within a
specified number of seconds. The data given below contains the following data for time, in seconds,
to answer 49 incoming calls to a financial services call centre.

4, 4, 4, 5, 6, 7, 7, 8, 8, 8, 9, 10, 10, 12, 12, 13, 13, 13, 13, 13, 15, 16, 16, 16, 16, 16, 17, 17, 17, 17,
18, 19, 19, 19, 19, 19, 19, 19, 20, 20, 22, 24, 25, 25, 26, 27, 28, 29, 29

Which of the following graphs best represents the correct percentage polygon?

(A) (B)

(C) (D)

Page 3 of 8
Q4.

The following distribution shows the age of accounts payable. Which one of the following statements
is TRUE?

a) The distribution of the age of accounts payable is skewed to the left.

b) The distribution of the age of accounts payable is skewed to the right.
c) The distribution of the age of accounts payable is symmetric.
d) We cannot determine (based only on the image) whether the distribution of the age of
accounts payable is symmetric or asymmetric.

Q5.

Steve has emailed Bern the students’ results of this mid-semester exam along with the mean and
standard deviation. However, outlook truncated the table, and the result of the last student was
missing. Which of the following can Bern still determine the values of, for the full set of data:

a) Variance
b) Coefficient of Variation
c) Median, Skewness, and Kurtosis
d) All of the above
e) Variance and Coefficient of Variation but not the Median, Skewness, nor Kurtosis

Page 4 of 8
Q6.

A bank branch located in a commercial district of a city has the business objective of developing an
improved process for serving customers during the noon-to-1:00pm lunch period. The waiting time, in
minutes, is defined as the time the customer enters the line to when he or she reaches the teller
window. Data are collected from a sample of 15 customers during this hour and then sorted lowest to
highest into the table below.

Bank1 Bank 2
0.38 3.82
2.34 4.08
3.02 5.47
3.2 5.64
3.54 5.79
3.79 5.9
4.21 6.17
4.5 6.68
4.77 8.01
5.12 8.02
5.13 8.35
5.55 8.73
6.1 9.66
6.19 9.91
6.46 10.49

In the five-number summary of the waiting times for Bank1, what is the value of Q1?

a) 3.2
b) 3.37
c) 3.54
d) 3.665
e) 3.79

Q7.

You would like to 'build your own burger' at a fast-food restaurant. There are 5 different breads, 7
different cheeses, 4 different cold toppings and 5 different sauces on the menu. If you want to include
one choice from each of these ingredient categories, how many different burgers can you build?

a) 720
b) 700
c) 175
d) 16,800
e) 4,200

Page 5 of 8
Q8.

A company has 100 employees, and 60 of them are in the Sales department. Among the Sales
employees, 30 have completed an advanced training program. If an employee is randomly selected
from the Sales department, what is the probability that they have completed the advanced training
program?

a) 30%
b) 50%
c) 60%
d) 75%
e) 100%

Q9.

8 employees are randomly selected from 30 employed by a company to form a management team. 10
of the employees have high level analytic skills. In determining the distribution for the number of high-
level analytics employees to be selected in the management team, choose the correct assignment of
variables.

a) N = 8, x = 10, A = 30, n = {0, 1, 2, 3, 4, 5, 6, 7, 8}

b) N = 8, x = {0, 1, 2, 3, 4, 5, 6, 7, 8}, A = 10, n = 30
c) N = 30, x = 8, A = 10, n = {0, 1, 2, 3, 4, 5, 6, 7, 8}
d) N = 10, x = 8, A = 30, n = {0, 1, 2, 3, 4, 5, 6, 7, 8}
e) N = 30, x = {0, 1, 2, 3, 4, 5, 6, 7, 8}, A = 10, n = 8

Q10.

A consumer response team hears directly from consumers about the challenges they face in the
marketplace, brings their concerns to the attention of financial institutions, and assists in addressing
their complaints. The consumer response team accepts complaints related to mortgages, bank
accounts and services, private student loans, other consumer loans, and credit reporting. An analysis
of complaints over time indicates that the mean number of credit reporting complaints registered by
consumers is 3.75 per day. Assume that the number of credit reporting complaints registered by
consumers is distributed as a Poisson random variable.

What is the probability that on a given day, exactly one credit reporting complaint will be registered by
consumers?

a) 0.0235
b) 0.0882
c) 0.1117
d) 0.1654
e) 0.2536

Q11.

A company is testing a new online advertisement. They show the ad to 5 randomly selected visitors to
their website. The probability that a visitor will click on the ad is 0.4. What is the probability that exactly
3 out of the 5 visitors will click on the ad?

a) 0.2304
b) 0.3456
c) 0.7696
d) 0.6544
e) 0.1382

Page 6 of 8
Q12.

For the joint random variables, X and Y, E(X) = 4, E(Y) = 6, V(X) = 2, V(Y) = 4, Cov(X,Y) =– 2.
Calculate the value of V(2X – Y):

a) 16
b) 20
c) 12
d) 4
e) 36

Q13.

Customers arrive at the drive-up window of a fast-food restaurant at a rate of 2 per minute during the
lunch hour.

What is the probability that the next customer will arrive within 1 minute?

a) 0.86466
b) 0.27067
c) 0.99995
d) 0.63212
e) 0.99326

Q14.

A bus arrives at a certain bus stop in Newtown every 30 minutes, and the arrival times follow a
uniform distribution. If a passengers arrive at the bus stop at a random time, what is the standard
deviation for the waiting times for the next bus?

a) 1.58 minutes
b) 8.66 minutes
c) 15 minutes
d) 30 minutes
e) 75 minutes

Q15.

Which of the following factors would you NOT consider in evaluating if a distribution is normal?
a) A histogram or a boxplot
b) The skewness and kurtosis
c) The IQR, median, and mean.
d) Long or Fat tails and extreme values
e) The Black Sholes Merton (BSM) approach

Q16.

The University of Sydney IT support call centre receives phone calls following an exponential
distribution with an average rate of 3 calls per minute. What is the probability that the next call will be
received within the next 30 seconds?

a) 14.94%
b) 15.35%
c) 33.33%
d) 77.69%
e) 95.02%

Page 7 of 8
Q17.

A report announced that the median sales price of new houses sold one year was $221,000, and the
mean sales price was $273,000. Assume that the standard deviation of the prices is $100,000.

If you select samples of n = 2, describe the shape of the sampling distribution of X̅

a) The sampling distribution will be approximately uniform.
b) The sampling distribution will be approximately normal.
c) The sampling distribution will be a discrete distribution in the shape of a triangle.
d) The sampling distribution will depend on the specific sample and will not have a constant
shape.
e) The sampling distribution is skewed to the right, but less skewed to the right than the
population.

Q18.

This question is a continuation of Q17 and uses the same information. If you select a random sample
of n=100, what is the probability that the sample mean will be less than $300,000?
a) 0.6064
b) 0.7704
c) 0.8729
d) 0.8749
e) 0.9965
Q19.

A research firm is conducting a survey to understand the proportion of households that own a smart
home device. Historically, 40% of households own such a device. If a random sample of 200
households is surveyed, what is the mean of the sampling distribution of the proportion of households
that own a smart home device?

a) 0.20%
b) 2.82%
c) 3.46%
d) 20.00%
e) 40.00%

Q20.

A small town has 500 registered voters, and a political campaign wants to estimate the proportion of
voters who support a particular candidate. They decide to survey a random sample of 100 voters. If
historically 55% of voters in the town support the candidate, what is the standard deviation of the
sampling distribution of the proportion?

a) 4.45%
b) 4.48%
c) 5.00%
d) 4.97%
e) 9.95%

END OF TEST

Page 8 of 8