# QNT 275 Week 1 participation Final Exam Preparation

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QNT 275 Week 1 participation Final Exam Preparation

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# QNT 275 Week 1 participation Final Exam Preparation

Review weekly topics and objectives in preparation for the final exam.

Discuss any questions or clarifications you need with the class.

Final Exam Sample Question #3 for Week 1

Team

Check out the following question that you may see on the Final:

The two branches of the study of statistics are generally referred to asdescriptive and inferential statistics

What are the differences between Descriptive and Inferential Statistics?

Final Exam Sample Question #1 for Week 1

Team

Below is a sample question that you may see on a quiz or on the final exam based on this Week’s Material

1. The study of statistics can be defined as:

Simply put Statistics is the study of collecting, analyzing, presenting, and interpreting data. What are your thoughts? Would you agree with my assessment?

Final Exam Sample Question #4 for Week 1

Team

Here is another question that you may see on a quiz or the final:

Which of the following is a quantitative variable?

House Prices

House Age

House Size

All of the Above

In this case, I would select all the above. This is because quantitative variables are numeric in nature. Which in this case, every variable that you see listed applies to a quantitative variable. What are your thoughts?

Final Exam Sample Question #2 for Week 1

Team

Below is another sample question that you could see on a quiz or on the Final:

The manager of a retail shoe store has applied statistics to analyze sales, purchasing, and  data and reached the conclusion that the store could reduce costs by reducing inventory of very small and very large sizes, and substituting an online ordering service to drop-ship rare sizes directly from suppliers. How should the manager communicate those results to the store owner?

Probably the best action for the manager would be to summarize the recommendations, supported by visual representation of the data and statistics. What are your thoughts on what his/her action to be?

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