Math 116 Week 7 Algebra 1 A Week 7 DQs Discussion Question 1 · Due Date: Day 2 [Main forum] 3. Discussion Question 2 · Due Date: ...

Q:	Math 116 Week 7 Algebra 1 A  Week 7 DQs Discussion Question 1 · Due Date: Day 2 [Main forum] 3. Discussion Question 2 · Due Date: Day 4 [Main forum]

LAW 531 Final Exam Examination 1) Sany lives on the top floor of a 10-story building in a big city. There is a 30-story apartment building under co...

Q:

LAW 531 Final Exam Examination

1) Sany lives on the top floor of a 10-story building in a big city. There is a 30-story apartment building under construction next door to her building. One morning while eating her corn flakes, a brand new toilet comes crashing through the roof of Sandy’s apartment and injures her. She would like to sue the construction firm, but has no way of finding out or proving what persons were involved or exactly what happened. The doctrine that would most help Sandy is:
 A. Res ipsa loquitur
 B. Last clear chance
 C. Strict liability
 D. Comparative negligence

2) The school of jurisprudence that believes that free market forces should determine the outcome to lawsuits is:
 A. The Sociological school
 B. The Command school
 C. The Critical Legal Studies school
 D. The Law and Economics school

3) Which of the following is a distinguishing feature of a common law legal system?
 A. The sole source of law is a comprehensive civil code
 B. Requiring guilt be proven beyond a reasonable doubt
 C. An appeal process
 D. The making of law by the judges and the following of precedent

4) ________ is a form of alternative dispute resolution that is often used when the parties involved do not want to face one another.
 A. Fact-finding
 B. Negotiation
 C. Mini-trial
 D. Conciliation

5) Which of the following is true with regards to arbitration?
 A. Arbitrators enter awards after reaching a decision.
 B. More formal evidentiary rules are applied to arbitration hearings.
 C. The arbitrator’s decisions are never binding.
 D. Many states have adopted the General Arbitration Doctrine in an effort to promote arbitration of disputes at the state level.

6) Which of the following is true regarding mediation?
 A. A settlement agreement is never reached with a mediator.
 B. A mediator often meets with both parties at the same time.
 C. A mediator does not make a decision or award.
 D. If a settlement agreement is not reached in mediation, then the parties hire a new mediator.

7) Assume that a state passes a statute that prevents disclosure of the horsepower of automobile engines. The purpose of this law is to prevent the car companies from trying to market cars with more horsepower than those of their competitors. This statute would most likely be found to:
 A. Violate the Equal Protection Clause under intermediary scrutiny.
 B. Be constitutional under state police power
 C. Be found to violate substantive due process.
 D. Be viewed as an unconstitutional restriction of commercial speech.

8) If there is an area of interstate commerce that the federal government has not chosen to regulate, the states can:

 A. Regulate in that area so long as the state law does not unduly burden interstate commerce.
 B. Regulate without restriction in that area.
 C. Regulate in that area so long as it first gets the requisite approval from Congress.
 D. Not regulate in that area because states cannot pass laws affecting interstate commerce.

9) What is the result of the “effects on interstate commerce” test?
 A. The federal government can regulate a business activity that takes place within a single state if the activity has an effect on interstate commerce even though the regulated activity itself does not involve interstate commerce.
 B. Commercial speech protections apply only to speech that has an effect on interstate commerce.
 C. The federal government can regulate all interstate commerce that actually crosses state lines.
 D. Prior to enacting laws, states were required to indentify any effects that the law might have on interstate commerce.

10) Which of the following is true about comparative negligence and contributory negligence?
 A. In order to avoid liability for an unintentional tort, the defendant must prove the presence of both defenses.
 B. Comparative negligence is used with intentional torts and contributory negligence is used with unintentional torts.
 C. They are two names for the same defense.
 D. Comparative negligence allows the plaintiff to make a partial recovery whereas contributory negligence does not.

11) Burger Prince is one of the largest hamburger chains in the country and fiercly competitive with the well-known chain of Captain Hook Seafood House restaurants. Captain Hook recently introduced a new line of hamburgers in order to expand beyond seafood. Burger Prince received information that it believed to be reliable indicating that Captain Hook’s burgers contained a substantial amount of fillers. Burger Prince then ran advertisements saying that its pure beef burgers were better than Captain Hooks that used fillers. Which of the following is true?

 A. Burger Prince would be liable for invasion of privacy if the formula for Captain Hook’s burgers was not publicly available.
 B. This is a case of palming off.
 C. Burger Prince is liable for product disparagement because the statement about the use of filler was false.
 D. Captain Hook will not be able to win a product disparagement case here.

12) Product disparagement differs from defamation of a nonpublic figure in that:
 A. Intent is required for the defamation case, but not in the disparagement case.
 B. Publication to a third party is required in the disparagement case, but not in the defamation case.
 C. Intent is required for the disparagement case, but not in the defamation case.
 D. Publication to a third party is required in the defamation case, but not in the disparagement case.

13) Sean has a 6 year old car which he bought 2 years ago from its original owner. Eight months ago he received a recall notice about a safety problem with the brakes. He never responded to the notice. Yesterday Sean was driving when the brakes failed and caused him to strike and injure a pedestrian. Which of the following is true in lawsuits against the car’s manufacturer?
 A. Sean can recover despite having received the recall notice.
 B. The pedestrian cannot recover because the correction of the defect will apply even though Sean did not take the car in for repairs.
 C. The pedestrian cannot recover due to the fact that the pedestrian was not using the car.
 D. Neither party can recover if Sean’s was one of only a few of these cars that actually had a brake defect.

14) Barry buys a new sports car. The car sits low to the ground and because of the styling visibility to the rear is limited. About a month after Barry buys the car, he backs over his pet poodle as he is leaving for work. In his strict liability suit against the car manufacturer, Barry will:
 A. Win on the basis of design defect
 B. Win on the basis of packaging defect because the car could have been packaged in a differently styled body.
 C. Win because driving a sports car is an inherently dangerous activity
 D. Lose because he assumed the risk of backing up in a car when he could not see to the rear.

15) Power Tool Company manufactures table saws. These saws have several safety devices including a permanent blade guard. The guard keeps the user’s hands from touching the blade while it is moving. Ralph buys a Power table saw, but he takes the blade guard off because it inhibits the type of work he wants to do. Later Ralph is injured while using the saw. If the blade guard had been left on, Ralph would not have been injured. Ralph sues Power Tool Co. under a strict liability theory. The best defense that Power could raise based on these facts is:
 A. Assumption of risk
 B. Generally known dangers
 C. Supervening event
 D. Misuse of the product

16) Mary applied for a permit with a federal administrative agency to operate a business within the boundaries of a popular national forest. The agency grants a limited number of these permits that allow operation of the business during the busy tourist season. The agency has turned down Mary’s application even though she received a permit in the prior year, paid the related fees on time, and violated none of the permit’s conditions. The agency granted a permit to a different applicant who had never run this type of business previously. If Mary appeals the decision to a court, what standard of review will it most likely use?
 A. The substantial evidence test
 B. The unwarranted by the facts test
 C. The arbitrary and capricious abuse of process test
 D. The unfair results test

17) Unfair and deceptive trade practices are general regulated by the:
 A. Food and Drug Administration
 B. Securities and Exchange Commission
 C. Federal Trade Commission
 D. Consumer Product Safety Commission

18) Which of the following statements best describes the procedures under the Clean Air Act?
 A. The state governments set and enforce the standards.
 B. Both the federal and state governments set standards and each enforces its own standards.
 C. The federal government sets and enforces the standards
 D. The federal government sets the standard; the state government enforces the standards; if the state governments do not adequately enforce the standards, the federal government may enforce them.

19) Mr Smith awakens one morning to the sound of construction in his backyard. When he looks out the window, he sees Ajax Construction Co. apparently erecting a garage on his property. He had not spoken or contracted with Ajax for this service. However, Mr Smith really wanted a new garage, so he let them continue. Later it was discovered that the garage was intended to go next door. Ajax sues Mr Smith for the value of the garage. What is the probable result?
 A. Smith wins; there was no contract upon which Ajax could recover, and people are not liable for benefits that are thrust upon them.
 B. Smith wins; unjust enrichment does not apply here because Mr Smith had no duty to tell Ajax that it had the wrong house.
 C. Ajax wins; this is a case of a contract implied in-fact, and Mr Smith implicity agreed to pay for the garage.
 D. Ajax wins; although there is no real contract, this is a case of unjust enrichment, and because Mr Smith accepted the garage, he must pay for it.

20) The circumstances where an offer cannot be withdrawn under promissory estoppel is also known as:
 A. The doctrine of detrimental reliance
 B. The strict counteroffer rule
 C. Irrevocable offers
 D. The doctrine of renewable offers

21) George, an employee, breaches a fixed-term employment contract by quitting before the end of the term. What can his employer, MNO Inc. recover as damages?
 A. All amounts already paid to the employee under the contract.
 B. The costs of hiring a replacement employee plus any increase in salary paid to the replacement employee.
 C. Nothing, because courts do not order anyone to perform a job against his or her will.
 D. Only amounts paid to the employee for which the employee has not yet done the work.

22) In a guaranty arrangement, the guarantor:
 A. Promises to pay the debt of another if that person does not pay.
 B. Promises to assume responsibility for the quality of goods.
 C. Promises to pay the debt of another in any circumstances.
 D. Promises to pay the debt of another contingent up the happening of some external event.

23) If a judge rules that a party lost its case because of the Statute of Frauds, the judge has essentially stated which of the following?

 A. The losing party will not be allowed to introduce evidence to contradict a written agreement.
 B. The losing party was found by the court to have lied, and therefore will lose the case.
 C. The losing party purposely deceived the other party about a material fact.
 D. The losing party cannot enforce an oral contract that should have been in writing.

24) What does the parol evidence rule do?
 A. It sets the rules for admissibility of evidence relating to releasing a criminal from a prison term.
 B. It determines which contracts are required to be in writing.
 C. It limits the ability of parties to written contracts from introducing certain evidence related to the contract.
 D. It sets the general rules for the admissability of evidence in criminal actions.

25) Licensing of informational rights can best be described as:
 A. A lease of tangible personal property to the licensee.
 B. The granting of any rights to use information, which can differ greatly in scope and duration.
 C. A sale of underlying intellectual property rights.
 D. The granting of limited rights to use that cannot be simultaneously granted to others.

26) Under the Anti-Cybersquatting Consumer Protection Act, which of the following is true?
 A. Penalties are imposed for obtaining any domain name that infringes on a valid trademark.
 B. Domain names are granted only after ensuring that they do not infringe on a valid existing trademark.
 C. Prior approval by the affected celebrity is needed to obtain a domain name that is similar to a celebrity’s name.
 D. A plaintiff must show that the defendant acted in bad faith in order to recover.

27) Which of the following best describes how e-mail contracts are viewed under the law?
 A. E-mail contracts are valid only for contracts less than $500
 B. E-mail contracts are generally treated similarly to contracts negotiated by other means.
 C. E-mail contracts for goods can be valid, but not e-mail contracts for services.
D. E-mail contracts are valid so long as both parties sign a written copy printed out from an e-mail.

28) William was a factory worker at the Spruce Industries plant. When it was learned he was a homosexual, he was fired. This action is:
 A. A violation of Title VII
 B. A violation of the Civil Rights Act of 1964
 C. Not prohibited under federal law
 D. A violation of the Equal Pay Act

29) Which of the following is true about sexual harassment in the workplace?
 A. Sexual harassment claims require that persons of both genders be involved.
 B. Sexual harassment is covered under OSHA as part of workplace safety.
 C. If a supervisor approaches someone and asks the person out for a social date, and if the supervisor acts in a socially customary manner, it will not be sexual harassment.
 D. The standards for a hostile work environment are extremely vague and depend on all the facts and circumstances.

30) Which is true if someone believes he was fired from a job because of his religion?
 A. He must first file a complaint with the Equal Employment Opportunity Commission or an equivalent state agency prior to being able to file a suit in court.
 B. He must prove that he is a reasonably active practitioner of his religion.
 C. He must prove that the person who fired him is of a different religion.
 D. He will not have a claim if the employer has a disproportionately high number of employees of the same religion.

31) Under the Occupational Safety and Health Act, which of the following is true?
 A. A company can be found to be in violation even if a specific safety regulation is not violated.
 B. Purchasers of a company’s products are assured they are safe for use in the home.
 C. Complaints are handled by the Equal Employment Opportunity Commission.
 D. Very few safety standards have actually been adopted.

32) Minimum wage, hours of employment, and child labor are regulated by the:
 A. Regulated Hours Act
 B. Right to Work Laws
 C. Federal Employment Act of 1940
 D. Fair Labor Standards Act

33) Which of the following is true about the provisions of the Consolidated Omnibus Budget Reconciliation Act (COBRA) as they related to health insurance?
 A. Upon termination of employment, an employer is required to pay, for a limited time, for the former employee’s health insurance coverage under the same terms that it had been paying for it while the employee worked for the employer.
 B. Certain companies are required to provide group health insurance coverage to their employees.
 C. Upon termination of employment, a health insurance provider must allow the employee to participate in the same health insurance coverage program that the employee participated in while working for the employer, although the employee must pay for it.
 D. Employers must make the same group health insurance available to all employees.

34)  Which of the following is true when someone accidentally makes an improvement to the personal property of another where the owner was unaware of the improvement until after it had been made?
 A. The property owner gets to keep the improvement in all cases, but must pay the party who improved it the reasonable value of the improvement.
 B. The property owner gets to keep the improvement in all circumstances and is not required to pay for it.
 C. The party who made the improvement can remove it if this is possible, otherwise the owner of the property gets to keep the improvement and is not required to pay for it.
 D. The party who made the improvement can remove it if this is possible, otherwise the owner of the property gets to keep the improvement and must pay the party who improved it the reasonable value of the improvement.

35) George, an employee, breaches a fixed-term employment contract by quitting before the end of the term. What can his employer, MNO Inc. recover as damages?
 A. All amounts already paid to the employee under the contract.
 B. Nothing, because courts do not order anyone to perform a job against his or her will.
 C. Only amounts paid to the employee for which the employee has not yet done the work.
 D. The costs of hiring a replacement employee plus any increase in salary paid to the replacement employee.

36) Edward’s Warehouse stores a variety of generic goods for several distributors in Anytown. Which of the following describes Edward’s liability for the bailed goods should something happen to them?
 A. Comparative liability.
 B. Strict liability.
 C. Ordinary negligence
 D. Criminal liability.

37) Which of the following is true about misappropriation of trade secrets?
 A. Trade secrets are protected regardless of the actions of the trade secret owner.
 B. Although it is not necessary that the trade secret be patented, the secret must be such that it could be patented.
 C. The plaintiff can recover only if the defendant acquired the secret through illegal means.
 D. Injunctions are generally not available to protect trade secrets.

38) What was accomplished by the Visual Artists Rights Act?
 A. The fair use doctrine was eliminated with respect to visual works of art.
 B. Copyright protection was extended to visual creative works.
 C. Copyright protection for visual artwork no longer needed a copyright notice.
 D. Artists retained certain rights to limit the reproduction and modification of their works even if the work or copyright is old.

39) A doctrine that says a patent may not be granted if the invention was used by the public for more than a certain period of time prior to the filing of the patent application is known as;
 A. The public use doctrine
 B. The public service doctrine
 C. The fair use doctrine
 D. The bar to patents doctrine

40) How does an easement appurtenant differ from an easement in gross?
 A. An easement appurtenant is permanent
 B. An easement appurtenant is in writing.
 C. The dominant estate of an easement appurtenant is adjacent to the servient estate.
 D. An easement appurtenant must be recorded.

41) The landlord has the right to enter the leased premises:
 A. To make necessary repairs
 B. Only if specifically provided in the lease
 C. To inspect for waste
 D. To inspect for illegal use

42) Sam sells property to Betty and delivers Betty a deed that says \"This property is conveyed to Betty so long as she never operates a bar on the premises.” If she operates a bar on the premises, Sam Seller may take possession of the property. The type of interest that Betty Buyer has acquired is a:
 A. Fee simple defeasible
 B. Fee simple absolute
 C. Fee simple limited
 D. Fee simple remainder

43) If a corporation is properly incorporated in one state and wants to do business in second state, the corporation:
 A. Register with the Interstate Corporation Commission.
 B. Must do nothing because being incorporated in one state entitles the corporation to do business in all states.
 C. May be required to obtain a certificate of authority from the second state.
 D. Must incorporate in the second state.

44) If an LLC fails to follow formalities such as keeping minutes of meetings, then which of the following is true?
 A. This failure will not result in imposing personal liability on any member.
 B. All members will lose their limited liability.
 C. Only the parties responsible for the failure will lose limited liability.
 D. Only the managers of a manager-managed LLC will lose limited liability.

45) Limited partners can lose their limited liability by:
 A. Actively managing the business of the limited partnership.
 B. Withdrawing from a limited partnership contrary to provisions in the limited partnership agreement.
 C. Breaching the fiduciary duty to the limited partnership.
 D. Investing too much in the partnership.

46) Title IX of the Sarbanes-Oxley Act contains penalties for white collar crimes. What is the penality if someone certifies “any statements as set forth in subsections (a) and (b) of this section knowing that the periodic report accompanying the statement does not comport…”
 A. Not more than $2,000,000 or imprisoned not more than 3 years, or both.
 B. Not more than $500,000 or imprisoned no more than 6 months, or both.
 C. Not more than $5,000,000 or imprisoned not more than 20 years, or both.
 D. Not more than $1,000,000 or imprisoned not more than 10 years, or both.

47) This is prohibited under the Sarbanes-Oxley Act:
 A. Public companies making personal loans to their directors and executives.
 B. Using an independent accounting firm for audit purposes.
 C. Directors and executives attending board meetings on a regular basis.
 D. High salaries for corporate executives.

48) The Sarbanes-Oxley Act provides for the establishment of the _____________ to over see audits of public companies. This will be done to protect the interests of shareholders and investors.
 A. Accounting Inspection Committee
 B. Internal Auditing Investigation Board
 C. Public Company Accounting Oversight Board
 D. Corporate Audit Committee

49) In what ways may officers and directors protect themselves from liability for actions taken as an officer or director?
 A. By having the corporation purchase liability insurance or indemnify the officers and directors, but the corporation cannot do both.
 B. By having the corporation purchase liability insurance or indemnify the officers and directors, or do both.
 C. By having the corporation indemnify the officers and directors.
 D. By having the corporation purchase liability insurance to cover such losses.

50) There are no accountants on the board of the Oriole Corporation. The board routinely relies on a Certified Public Accountant (CPA) to explain the financial situation of the corporation. The board does not do an independent analysis of the CPA’s report. In these circumstances, the board is:
 A. Violating the business judgement rule.
 B. Violating a duty to exercise due care.
 C. Not violating any duty.
 D. Violating a duty of loyalty

51) Mark is the treasurer of Sky-Hi Tech Corporation and, as such, he is responsible for protecting the assets of the corporation. One of Mark’s subordinates, Jill, is in charge of reconciling the monthly corporate bank statements. Over a period of several months, Jill embezzled a large amount of money from Sky-Hi Tech, covering up the theft using her bank reconciliations. If Mark had adequately supervised Jill, she could not have embezzled this money. Mark’s actions (or inactions) constitute a breach of his duty of:
 A. Loyalty
 B. Obedience
 C. Ultra vires
 D. Due care

Final Exam Final Quiz Multiple choice Quiz Exam 1 1) George, an employee, breaches a fixed-term employment contract by quitting before the end of

Q:

Final Exam Final Quiz Multiple choice Quiz
Exam 1

1) George, an employee, breaches a fixed-term employment contract by quitting before the end of the term. What can his employer, MNO Inc. recover as damages?
A. All amounts already paid to the employee under the contract.
 B. The costs of hiring a replacement employee plus any increase in salary paid to the replacement employee.
 C. Nothing, because courts do not order anyone to perform a job against his or her will.
 D. Only amounts paid to the employee for which the employee has not yet done the work.

 2) In a guaranty arragement, the guarantor:
A. Promises to pay the debt of another if that person does not pay.
 B. Promises to assume responsibility for the quality of goods.
 C. Promises to pay the debt of another in any circumstances.
 D. Promises to pay the debt of another contingent up the happening of some external event.

 3) Which of the following is a distinguishing feature of a common law legal system?
A. The sole source of law is a comprehensive civil code
 B. Requiring guilt be proven beyond a reasonable doubt
 C. An appeal process
 D. The making of law by the judges and the following of precedent

 4) If a corporation is properly incorporated in one state and wants to do business in second state, the corporation:
A. Register with the Interstate Corporation Commission.
 B. Must do nothing because being incorporated in one state entitles the corporation to do business in all states.
 C. May be required to obtain a certificate of authority from the second state.
 D. Must incorporate in the second state.

5) If an LLC fails to follow formalities such as keeping minutes of meetings, then which of the following is true?
A. This failure will not result in imposing personal liability on any member.
 B. All members will lose their limited liability.
 C. Only the parties responsible for the failure will lose limited liability.
 D. Only the managers of a manager-managed LLC will lose limited liability.

 6) Which of the following is true regarding mediation?
A. A settlement agreement is never reached with a mediator.
 B. A mediator often meets with both parties at the same time.
 C. A mediator does not make a decision or award.
 D. If a settlement agreement is not reached in mediation, then the parties hire a new mediator.

 7) Sandy lives on the top floor of a 10-story building in a big city. There is a 30-story apartment building under construction next door to her building. One morning while eating her corn flakes, a brand new toilet comes crashing through the roof of Sandy’s apartment and injures her. She would like to sue the construction firm, but has no way of finding out or proving what persons were involved or exactly what happened. The doctrine that would most help Sandy is:
A. Res ipsa loquitur
 B. Last clear chance
 C. Strict liability
 D. Comparative negligence
8) If there is an area of interstate commerce that the federal government has not chosen to regulate, the states can:
A. Regulate in that area so long as the state law does not unduly burden interstate commerce.
 B. Regulate without restriction in that area.
 C. Regulate in that area so long as it first gets the requisite approval from Congress.
 D. Not regulate in that area because states cannot pass laws affecting interstate commerce.

 9) Burger Prince is one of the largest hamburger chains in the country and fiercly competitive with the well-known chain of Captain Hook Seafood House restaurants. Captain Hook recently introduced a new line of hamburgers in order to expand beyond seafood. Burger Prince received information that it believed to be reliable indicating that Captain Hook’s burgers contained a substantial amount of fillers. Burger Prince then ran advertisements saying that its pure beef burgers were better than Captain Hooks that used fillers. Which of the following is true?
A. Burger Prince would be liable for invasion of privacy if the formula for Captain Hook’s burgers was not publicly available.
 B. This is a case of palming off.
 C. Burger Prince is liable for product disparagement because the statement about the use of filler was false.
 D. Captain Hook will not be able to win a product disparagement case here.

 10) What was accomplished by the Visual Artists Rights Act?
A. The fair use doctrine was eliminated with respect to visual works of art.
 B. Copyright protection was extended to visual creative works.
 C. Copyright protection for visual artwork no longer needed a copyright notice.
 D. Artists retained certain rights to limit the reproduction and modification of their works even if the work or copyright is old.

11) A doctrine that says a patent may not be granted if the invention was used by the public for more than a certain period of time prior to the filing of the patent application is known as;
A. The public use doctrine
 B. The public service doctrine
 C. The fair use doctrine
 D. The bar to patents doctrine

12) Barry buys a new sports car. The car sits low to the ground and because of the styling visibility to the rear is limited. About a month after Barry buys the car, he backs over his pet poodle as he is leaving for work. In his strict liability suit against the car manufacturer, Barry will:
A. Win on the basis of design defect
 B. Win on the basis of packaging defect because the car could have been packaged in a differently styled body.
 C. Win because driving a sports car is an inherently dangerous activity
 D. Lose because he assumed the risk of backing up in a car when he could not see to the rear.

13) ________ is a form of alternative dispute resolution that is often used when the parties involved do not want to face one another.
A. Fact-finding
 B. Negotiation
 C. Mini-trial
 D. Conciliation

 14) Which of the following is true with regards to arbitration?
A. Arbitrators enter awards after reaching a decision.
 B. More formal evidentiary rules are applied to arbitration hearings.
 C. The arbitrator’s decisions are never binding.
 D. Many states have adopted the General Arbitration Doctrine in an effort to promote arbitration of disputes at the state level.

15) Unfair and deceptive trade practices are general regulated by the:
A. Food and Drug Administration
 B. Securities and Exchange Commission
 C. Federal Trade Commission
 D. Consumer Product Safety Commission

 16) Which of the following statements best describes the procedures under the Clean Air Act?
A. The state governments set and enforce the standards.
 B. Both the federal and state governments set standards and each enforces its own standards.
 C. The federal government sets and enforces the standards
 D. The federal government sets the standard; the state government enforces the standards; if the state governments do not adequately enforce the standards, the federal government may enforce them.

 17) The school of jurisprudence that believes that free market forces should determine the outcome to lawsuits is:
A. The Sociological school
 B. The Command school
 C. The Critical Legal Studies school
 D. The Law and Economics school

18) Assume that a state passes a statute that prevents disclosure of the horsepower of automobile engines. The purpose of this law is to prevent the car companies from trying to market cars with more horsepower than those of their competitors. This statute would most likely be found to:
A. Violate the Equal Protection Clause under intermediary scrutiny.
 B. Be constitutional under state police power
 C. Be found to violate substantive due process.
 D. Be viewed as an unconstitutional restriction of commercial speech.

19) Mr Smith awakens one morning to the sound of construction in his backyard. When he looks out the window, he sees Ajax Construction Co. apparently erecting a garage on his property. He had not spoken or contracted with Ajax for this service. However, Mr Smith really wanted a new garage, so he let them continue. Later it was discovered that the garage was intended to go next door. Ajax sues Mr Smith for the value of the garage. What is the probable result?
A. Smith wins; there was no contract upon which Ajax could recover, and people are not liable for benefits that are thrust upon them.
 B. Smith wins; unjust enrichment does not apply here because Mr Smith had no duty to tell Ajax that it had the wrong house.
 C. Ajax wins; this is a case of a contract implied in-fact, and Mr Smith implicity agreed to pay for the garage.
 D. Ajax wins; although there is no real contract, this is a case of unjust enrichment, and because Mr Smith accepted the garage, he must pay for it.

20) The circumstances where an offer cannot be withdrawn under promissory estoppel is also known as:
A. The doctrine of detrimental reliance
 B. The strict counteroffer rule
 C. Irrevocable offers
 D. The doctrine of renewable offers
21) If a judge rules that a party lost its case because of the Statute of Frauds, the judge has essentially stated which of the following?
A. The losing party will not be allowed to introduce evidence to contradict a written agreement.
 B. The losing party was found by the court to have lied, and therefore will lose the case.
 C. The losing party purposely deceived the other party about a material fact.
 D. The losing party cannot enforce an oral contract that should have been in writing.

 22) Power Tool Company manufactures table saws. These saws have several safety devices including a permanent blade guard. The guard keeps the user’s hands from touching the blade while it is moving. Ralph buys a Power table saw, but he takes the blade guard off because it inhibits the type of work he wants to do. Later Ralph is injured while using the saw. If the blade guard had been left on, Ralph would not have been injured. Ralph sues Power Tool Co. under a strict liability theory. The best defense that Power could raise based on these facts is:
A. Assumption of risk
 B. Generally known dangers
 C. Supervening event
 D. Misuse of the product

23) Mary applied for a permit with a federal administrative agency to operate a business within the boundaries of a popular national forest. The agency grants a limited number of these permits that allow operation of the business during the busy tourist season. The agency has turned down Mary’s application even though she received a permit in the prior year, paid the related fees on time, and violated none of the permit’s conditions. The agency granted a permit to a different applicant who had never run this type of business previously. If Mary appeals the decision to a court, what standard of review will it most likely use?
A. The substantial evidence test
 B. The unwarranted by the facts test
 C. The arbitrary and capricious abuse of process test
 D. The unfair results test

 24) What does the parol evidence rule do?
A. It sets the rules for admissibility of evidence relating to releasing a criminal from a prison term.
 B. It determines which contracts are required to be in writing.
 C. It limits the ability of parties to written contracts from introducing certain evidence related to the contract.
 D. It sets the general rules for the admissability of evidence in criminal actions.

 25) Title IX of the Sarbanes-Oxley Act contains penalties for white collar crimes. What is the penality if someone certifies “any statements as set forth in subsections (a) and (b) of this section knowing that the periodic report accompanying the statement does not comport…”
A. Not more than $2,000,000 or imprisoned not more than 3 years, or both.
 B. Not more than $500,000 or imprisoned no more than 6 months, or both.
 C. Not more than $5,000,000 or imprisoned not more than 20 years, or both.
 D. Not more than $1,000,000 or imprisoned not more than 10 years, or both.

26) What is the result of the “effects on interstate commerce” test?
A. The federal government can regulate a business activity that takes place within a single state if the activity has an effect on interstate commerce even though the regulated activity itself does not involve interstate commerce.
 B. Commercial speech protections apply only to speech that has an effect on interstate commerce.
 C. The federal government can regulate all interstate commerce that actually crosses state lines.
 D. Prior to enacting laws, states were required to indentify any effects that the law might have on interstate commerce.
27) Minimum wage, hours of employment, and child labor are regulated by the:
A. Regulated Hours Act
 B. Right to Work Laws
 C. Federal Employment Act of 1940
 D. Fair Labor Standards Act

28) The landlord has the right to enter the leased premises:
A. To make necessary repairs
 B. Only if specifically provided in the lease
 C. To inspect for waste
 D. To inspect for illegal use

29) Sam sells property to Betty and delivers Betty a deed that says "This property is conveyed to Betty so long as she never operates a bar on the premises.” If she operates a bar on the premises, Sam Seller may take possession of the property. The type of interest that Betty Buyer has acquired is a:
A. Fee simple defeasible
 B. Fee simple absolute
 C. Fee simple limited
 D. Fee simple remainder

30) Which of the following is true about the provisions of the Consolidated Omnibus Budget Reconciliation Act (COBRA) as they related to health insurance?
A. Upon termination of employment, an employer is required to pay, for a limited time, for the former employee’s health insurance coverage under the same terms that it had been paying for it while the employee worked for the employer.
 B. Certain companies are required to provide group health insurance coverage to their employees.
 C. Upon termination of employment, a health insurance provider must allow the employee to participate in the same health insurance coverage program that the employee participated in while working for the employer, although the employee must pay for it.
 D. Employers must make the same group health insurance available to all employees.

31) Which of the following is true about comparative negligence and contributory negligence?
A. In order to avoid liability for an unintentional tort, the defendant must prove the presence of both defenses.
 B. Comparative negligence is used with intentional torts and contributory negligence is used with unintentional torts.
 C. They are two names for the same defense.
 D. Comparative negligence allows the plaintiff to make a partial recovery whereas contributory negligence does not.

32) Which of the following best describes how e-mail contracts are viewed under the law?
A. E-mail contracts are valid only for contracts less than $500
 B. E-mail contracts are generally treated similarly to contracts negotiated by other means.
 C. E-mail contracts for goods can be valid, but not e-mail contracts for services.
D. E-mail contracts are valid so long as both parties sign a written copy printed out from an e-mail.

33) William was a factory worker at the Spruce Industries plant. When it was learned he was a homosexual, he was fired. This action is:
A. A violation of Title VII
 B. A violation of the Civil Rights Act of 1964
 C. Not prohibited under federal law
 D. A violation of the Equal Pay Act
34) Which of the following is true about sexual harassment in the workplace?
A. Sexual harassment claims require that persons of both genders be involved.
 B. Sexual harassment is covered under OSHA as part of workplace safety.
 C. If a supervisor approaches someone and asks the person out for a social date, and if the supervisor acts in a socially customary manner, it will not be sexual harassment.
 D. The standards for a hostile work environment are extremely vague and depend on all the facts and circumstances.

35) Which is true if someone believes he was fired from a job because of his religion?
A. He must first file a complaint with the Equal Employment Opportunity Commission or an equivalent state agency prior to being able to file a suit in court.
 B. He must prove that he is a reasonably active practitioner of his religion.
 C. He must prove that the person who fired him is of a different religion.
 D. He will not have a claim if the employer has a disproportionately high number of employees of the same religion.

36) Product disparagement differs from defamation of a nonpublic figure in that:
A. Intent is required for the defamation case, but not in the disparagement case.
 B. Publication to a third party is required in the disparagement case, but not in the defamation case.
 C. Intent is required for the disparagement case, but not in the defamation case.
 D. Publication to a third party is required in the defamation case, but not in the disparagement case.

37) Sean has a 6 year old car which he bought 2 years ago from its original owner. Eight months ago he received a recall notice about a safety problem with the brakes. He never responded to the notice. Yesterday Sean was driving when the brakes failed and caused him to strike and injure a pedestrian. Which of the following is true in lawsuits against the car’s manufacturer?
A. Sean can recover despite having received the recall notice.
 B. The pedestrian cannot recover because the correction of the defect will apply even though Sean did not take the car in for repairs.
 C. The pedestrian cannot recover due to the fact that the pedestrian was not using the car.
 D. Neither party can recover if Sean’s was one of only a few of these cars that actually had a brake defect.

38) Under the Occupational Safety and Health Act, which of the following is true?
A. A company can be found to be in violation even if a specific safety regulation is not violated.
 B. Purchasers of a company’s products are assured they are safe for use in the home.
 C. Complaints are handled by the Equal Employment Opportunity Commission.
 D. Very few safety standards have actually been adopted.

39) In what ways may officers and directors protect themselves from liability for actions taken as an officer or director?
A. By having the corporation purchase liability insurance or indemnify the officers and directors, but the corporation cannot do both.
 B. By having the corporation purchase liability insurance or indemnify the officers and directors, or do both.
 C. By having the corporation indemnify the officers and directors.
 D. By having the corporation purchase liability insurance to cover such losses.

40) There are no accountants on the board of the Oriole Corporation. The board routinely relies on a Certified Public Accountant (CPA) to explain the financial situation of the corporation. The board does not do an independent analysis of the CPA’s report. In these circumstances, the board is:
A. Violating the business judgement rule.
 B. Violating a duty to exercise due care.
 C. Not violating any duty.
 D. Violating a duty of loyalty
41) Licensing of informational rights can best be described as:
A. A lease of tangible personal property to the licensee.
 B. The granting of any rights to use information, which can differ greatly in scope and duration.
 C. A sale of underlying intellectual property rights.
 D. The granting of limited rights to use that cannot be simultaneously granted to others.

42) Under the Anti-Cybersquatting Consumer Protection Act, which of the following is true?
A. Penalties are imposed for obtaining any domain name that infringes on a valid trademark.
 B. Domain names are granted only after ensuring that they do not infringe on a valid existing trademark.
 C. Prior approval by the affected celebrity is needed to obtain a domain name that is similar to a celebrity’s name.
 D. A plaintiff must show that the defendant acted in bad faith in order to recover.

43) Which of the following is true when someone accidentally makes an improvement to the personal property of another where the owner was unaware of the improvement until after it had been made?
A. The property owner gets to keep the improvement in all cases, but must pay the party who improved it the reasonable value of the improvement.
 B. The property owner gets to keep the improvement in all circumstances and is not required to pay for it.
 C. The party who made the improvement can remove it if this is possible, otherwise the owner of the property gets to keep the improvement and is not required to pay for it.
 D. The party who made the improvement can remove it if this is possible, otherwise the owner of the property gets to keep the improvement and must pay the party who improved it the reasonable value of the improvement.

44) George, an employee, breaches a fixed-term employment contract by quitting before the end of the term. What can his employer, MNO Inc. recover as damages?
A. All amounts already paid to the employee under the contract.
 B. Nothing, because courts do not order anyone to perform a job against his or her will.
 C. Only amounts paid to the employee for which the employee has not yet done the work.
 D. The costs of hiring a replacement employee plus any increase in salary paid to the replacement employee.

45) The Sarbanes-Oxley Act provides for the establishment of the _____________ to over see audits of public companies. This will be done to protect the interests of shareholders and investors.
A. Accounting Inspection Committee
 B. Internal Auditing Investigation Board
 C. Public Company Accounting Oversight Board
 D. Corporate Audit Committee

46) Mark is the treasurer of Sky-Hi Tech Corporation and, as such, he is responsible for protecting the assets of the corporation. One of Mark’s subordinates, Jill, is in charge of reconciling the monthly corporate bank statements. Over a period of several months, Jill embezzled a large amount of money from Sky-Hi Tech, covering up the theft using her bank reconciliations. If Mark had adequately supervised Jill, she could not have embezzled this money. Mark’s actions (or inactions) constitute a breach of his duty of:
A. Loyalty
 B. Obedience
 C. Ultra vires
 D. Due care


47) Edward’s Warehouse stores a variety of generic goods for several distributors in Anytown. Which of the following describes Edward’s liability for the bailed goods should something happen to them?
A. Comparative liability.
 B. Strict liability.
 C. Ordinary negligence
 D. Criminal liability.

48) How does an easement appurtenant differ from an easement in gross?
A. An easement appurtenant is permanent
 B. An easement appurtenant is in writing.
 C. The dominant estate of an easement appurtenant is adjacent to the servient estate.
 D. An easement appurtenant must be recorded.

49) Limited partners can lose their limited liability by:
A. Actively managing the business of the limited partnership.
 B. Withdrawing from a limited partnership contrary to provisions in the limited partnership agreement.
 C. Breaching the fiduciary duty to the limited partnership.
 D. Investing too much in the partnership

50) This is prohibited under the Sarbanes-Oxley Act:
A. Public companies making personal loans to their directors and executives.
 B. Using an independent accounting firm for audit purposes.
 C. Directors and executives attending board meetings on a regular basis.
 D. High salaries for corporate executives.

51) Which of the following is true about misappropriation of trade secrets?
A. Trade secrets are protected regardless of the actions of the trade secret owner.
 B. Although it is not necessary that the trade secret be patented, the secret must be such that it could be patented.
 C. The plaintiff can recover only if the defendant acquired the secret through illegal means.
 D. Injunctions are generally not available to protect trade secrets.

BUS 401 FINANCE JBC Corp. declared a dividend of $2 per share, which was an increase of 25% from the prior year, yet JBC Corp. stock declined by ...

Q:

BUS 401 FINANCE

1. JBC Corp. declared a dividend of $2 per share, which was an increase of 25% from the prior year, yet JBC Corp. stock declined by 3% the day of the announcement. RBG Corp. declared a dividend of $2 per share, which was the same as the prior year, and its stock increased in value by 2% on the day of the announcement. These events could be most readily explained by the (Points : 1)

       information effect.
       clientele effect.
       expectations theory.
       residual dividend theory.

2. A firm's optimal capital structure occurs where? (Points : 1)
       EPS are maximized, and WACC is minimized.
       Stock price is maximized, and EPS are maximized.
       Stock price is maximized, and WACC is maximized.
       WACC is minimized, and stock price is maximized.  

 3. Flotation costs: (Points : 1)
       include the fees paid to the investment bankers, lawyers, and accountants involved in selling a new security issue.  
       encourage firms to pay large dividends.
       are encountered whenever a firm fails to pay a dividend.
       are incurred when investors fail to cash their dividend check.

 4. Assume that the tax on dividends and the tax on capital gains is the same. All else equal, what would a prudent investor prefer? (Points : 1)
       The prudent investor would be indifferent between receiving dividends or capital gains.
       The prudent investor would prefer dividendsa dollar today is always worth more than a dollar to be received in the future.
       The prudent investor would prefer capital gainsthe capital gain tax liability can be deferred until gains are realized.  
       More information is needed.

 5. The break-even point is equal to (Points : 1)
       fixed costs divided by (sales price per unit — variable cost per unit).  
       fixed costs divided by unit variable costs.
       fixed costs divided by selling price per unit.
       (sales price per unit — variable cost per unit) times the fixed costs.

 6. The payment of dividends may indirectly result in closer monitoring of management's investment activities, thus increasing shareholder value by (Points : 1)
       reducing agency costs.  
       increasing information asymmetry.
       increasing a company's amount of free cash flow.
       reducing auditing fees.

 7. A firm that uses large amounts of debt financing in an industry characterized by a high degree of business risk would have ________ earnings per share fluctuations resulting from changes in levels of sales. (Points : 1)
       no
       constant
       large
       small

 8. A high degree of variability in a firm's earnings before interest and taxes refers to (Points : 1)
       business risk.
       financial risk.
       financial leverage.
       operating leverage.

 9. As production levels increase, (Points : 1)
       variable costs per unit decrease.
       fixed costs per unit increase.
       fixed costs per unit stay the same and variable costs per unit increase.
       fixed costs per unit decrease and variable costs per unit stay the same.

10. Moline Manufacturing Corporation reported the following items: Sales = $6,000,000; Variable Costs of Production = $1,500,000; Variable Selling and Administrative Expenses = $550,000; Fixed Costs = $1,350,000; EBIT = $2,600,000; and the Marginal Tax Rate =35%. Moline's break-even point in sales dollars is (Points : 1)
       $2,050,633.
       $2,197,500.
       $2,438,750.
       $2,785,000.

Bob's Baked Goods Company reported the following income statement for 2009:Sales $2,500,000Variable Costs 900,000Fixed Operating Costs 700,000EBIT 900...

Q:

Bob's Baked Goods Company reported the following income statement for 2009:
Sales $2,500,000
Variable Costs 900,000
Fixed Operating Costs 700,000
EBIT 900,000
Interest Expense 200,000
EBT 700,000
Taxes (30%) 210,000
Net Income $490,000
Earnings Per Share $4.90


If Bob's sales next year increase by 20%, Bob's EBIT will increase: (Points : 1)
20%, showing no operating leverage.
20%, showing no financial leverage.
over 35%, due to operating leverage.
over 35%, due to operating leverage and financial leverage.

answer with steps

RES 341 Final Exam set2 25Questions RES 341 Final Exam set2 25Questions 1) A sufficiently large coverage error will result in which of the follo...

Q:	MKT/421 Marketing Final Exam 1) Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of  A. A command economy.  B. Making goods or performing services.  C. Marketing.  D. Production. 2) For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:  A. A production activity.  B. A part of marketing.  C. An example of the micro-macro dilemma.  D. One of the universal functions of innovation. 3) According to the text, marketing means:  A. Selling.  B. Advertising.  C. Producing and selling.  D. Much more than selling and advertising. 4) To compete more successfully with its many competitors offering packaged cookies, Famous Amos added its own line of extra chunky premium cookies. This seems to be an effort at:  A. Market penetration.  B. Product development.  C. Combination.  D. Market development. 5) Professional Dental Supply has been successfully selling dental instruments to dentists for the past 20 years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at  A. Diversification.  B. Product development.  C. Market penetration.  D. Market development. 6) Which of the following statements regarding marketing strategies is FALSE?  A. These strategies must meet the needs of target customers, and a firm is likely to get a competitive advantage if it just meets needs in the same way as some other firm.  B. These strategies require decisions about the specific customers the firm will target and the marketing mix the firm will develop to appeal to that target market.  C. It is useful to think of the marketing strategy planning process as a narrowing-down process.  D. Developing successful marketing strategies does not need to be a hit-or-miss proposition. 7) The marketing mix  A. Includes the target market  B. Includes four variables—advertising, personal selling, customer service, and sales promotion.  C. Includes four variables—People, Place, Promotion, and Price.  D. Helps to organize the marketing strategy decision areas. 8) A firm's marketing mix decision areas would NOT include:  A. People  B. Product  C. Promotion  D. Price 9) Product is NOT concerned with:  A. Branding.  B. Packaging.  C. Quality level.  D. Wholesale price. 10.) When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:  A. Production is to marketing.  B. Personal selling is to mass selling.  C. Branding is to pricing.  D. Store location is to sales force selection. 11) Dell, Inc. wants to offer customers televisions in addition to computers. This is a change in their_____________  A. promotional.  B. product.  C. pricing.  D. personnel. 12) Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to its existing product line. Big Fizz must make some decisions regarding packaging and branding of the fruit juices. These decisions would fall under which variable of the marketing mix?  A. Place  B. Promotion  C. Price  D. Product 13) A marketing plan is:  A. A marketing strategy.  B. A marketing strategy—plus the time-related details for carrying it out.  C. A target market and a related marketing mix.  D. A marketing program. 14) The main difference between a marketing strategy and a marketing plan is that:  A. A marketing plan includes several marketing strategies.  B. A marketing strategy provides more detail.  C. A marketing strategy omits pricing plans.  D. Time-related details are included in a marketing plan. 15) Which of the following would probably NOT be in a proposed marketing plan?  A. A statement of how frequently the design of the website will be changed.  B. Expected sales and profit results.  C. A description of the target market and marketing mix.  D. A list of what company resources (costs) would be required. 16) Marketing strategy planners should recognize that:  A. Mass marketing is often very effective and desirable.  B. Large firms like General Electric, Target, and Procter & Gamble are too large to aim at clearly defined markets. C. Target marketing is not limited to small market segments.  D. Target markets should not be large and spread out. 17) Good marketing strategy planners know that:  A. Target marketing does not limit one to small market segments.  B. Mass marketing is often very desirable and effective.  C. The terms mass marketing and mass marketer mean basically the same thing.  D. Firms like Nabisco and WalMart are too large to aim at clearly defined target markets. 18) Target marketing, in contrast to mass marketing,  A. Assumes that all customers are basically the same.  B. Ignores markets that are large and spread out.  C. Focuses on fairly homogeneous market segments.  D. Is limited to small market segments. 19) Clustering techniques applied to segmenting markets  A. Usually require computers to group people based on data from market research.  B. Remove the need for managerial judgment.  C. Eliminate the need for marketing managers to specify in advance what dimensions might be relevant for grouping consumers.  D. All of the above are true. 20) The process of naming broad product-markets and then segmenting them in order to select target markets and develop suitable marketing mixes is called:  A. Market segmentation.  B. Market development.  C. Market research.  D. Market penetration. 21) ______________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.  A. Market segmentation  B. Mass marketing  C. Diversification  D. Market positioning 22) A ______________ is an organized way of continually gathering and analyzing data to get information to help marketing managers make ongoing decisions.  A. Marketing model  B. Marketing information system  C. Marketing research department  D. Marketing research project 23) ________________ ________________ utilizes qualitative and quantitative analysis procedures to help marketing managers make more informed decisions.  A. Marketing processing.  B. Marketing planning.  C. Marketing research.  D. Marketing structure. 24) Procedures that develop and analyze new information to help marketing managers make decisions are called:  A. Operational planning.  B. Strategy planning.  C. Marketing research.  D. Analytical research. 25) The part of the relevant population that is surveyed by a researcher is called the:  A. Focal group.  B. Representative group.  C. Sample.  D. Target population. 26) One of the major disadvantages of the focus group interview approach is that  A. It is difficult to measure the results objectively.  B. Ideas generated by the group cannot be tested later with other research.  C. There is no interviewer, so the research questions may not be answered.  D. It is difficult to get in-depth information about the research topic. 27) When focus group interviews are used in marketing,  A. The typical group size is 15 to 20 typical consumers whether online or off-line.  B. Each person in the group answers the same questionnaire, to focus the discussion.  C. The research conclusions will vary depending on who watches the interview whether online or off-line.  D. It is primarily as a follow-up to more quantitative research. 28) The marketing manager at Massimino & McCarthy, a chain of retail stores that sells men's clothing, is reviewing marketing research data to try to determine if changes in marketing strategy are needed. Which of the following sources of data would be a secondary data source?  A. Reviewing videotapes of a recent focus group.  B. Looking through the company's marketing information system to see past sales trends.  C. Spending time in stores observing customers' behavior.  D. Making phone calls to some of the best customers to learn their interest in a new line of clothing. 29) A small manufacturing firm has just experienced a rapid drop in sales. The marketing manager thinks that he knows what the problem is and has been carefully analyzing secondary data to check his thinking. His next step should be to:  A. Develop a formal research project to gather primary data.  B. Conduct an experiment. C. Develop a hypothesis and predict the future behavior of sales.  D. Conduct informal discussion with outsiders, including intermediaries, to see if he has correctly defined the problem. 30) The observing method in marketing research:  A. May require customers to change their normal shopping behavior.  B. Is not suitable for obtaining primary data.  C. Uses personal interviews.  D. Is used to gather data without consumers being influenced by the process.  31) Market segmentation:  A. Assumes that most submarkets can be satisfied by the same marketing mix.  B. Tries to identify homogeneous submarkets within a product-market.  C. Means the same thing as marketing strategy planning.  D. Is the same thing as positioning. 32) Which is the first step in market segmentation?  A. Clustering people with similar needs into a market segment.  B. Evaluating market segments to determine if they are large enough.  C. Finding one or two demographic characteristics to divide up the whole mass market.  D. Naming a broad product-market of interest to the firm. 33) The first step in market segmentation should be:  A. Evaluating what segment(s) you currently serve.  B. Defining some broad product-markets where you may be able to operate profitably.  C. Deciding what new product you could develop.  D. Finding a demographic group likely to use your products. 34) Which of the following is NOT one of the text's product life cycle stages?  A. Market penetration  B. Market growth  C. Market maturity  D. Market introduction 35) Which of the following is a DEMOGRAPHIC segmenting dimension?  A. Brand familiarity.  B. Family life cycle.  C. Rate of use.  D. Type of problem solving. 36) The product life cycle has four stages. Which of the following is NOT one of these?  A. Market growth  B. Economic competition  C. Market introduction  D. Market maturity 37) Regarding product life cycles, which of the following is NOT true?  A. The level of promotion usually decreases in market maturity because there is less revenue to cover the cost.  B. It is usually expensive for a new firm to enter in the market maturity stage.  C. Industry profits are likely to level off or decline before sales level off.  D. Many close substitutes are usually competing in the market maturity stage. 38) During the MARKET INTRODUCTION stage of the product life cycle:  A. Price and promotion are more important than Place and Product.  B. Money is invested—in the hope of FUTURE profits.  C. Large profits are typical—until competition arrives.  D. Much money is spent on Promotion, while spending on Place is left until later. 39) An industry's sales have leveled off and profits are declining in oligopolistic competition. Consumers see competing products as homogeneous. Several firms have dropped out of the industry, but a new one entered recently. Firms in the industry are trying to avoid price-cutting by spending on persuasive advertising. These firms are competing in which stage of the product life cycle?  A. Market maturity  B. Market introduction  C. Market growth  D. Market development 40) Noise (in the traditional communication process) refers to:  A. Radio advertising interference only.  B. Efforts by a firm's competitors to block its message channel.  C. Any distractions that reduce the effectiveness of the communication process.  D. Messages which are too loud or bold. 41) SGCA is having a sales contest to encourage retailers to quickly reduce the inventory of SuperGamer computers. Retailers with the highest sales during the next month win an expense paid trip to a special dealer meeting at a resort in Hawaii. This is  A. An example of cooperative advertising.  B. An example of a producer using sales promotion in the channel.  C. Probably illegal because it might encourage price competition among retailers.  D. The type of promotion that continues to impact sales even after the promotion is over. 42) Price reductions given to channel members to encourage them to advertise or otherwise promote a firm's products locally are:  A. Brokerage allowances.  B. Advertising allowances.  C. Quantity discounts.  D. Push money allowances. 43) The Canyonlands Corporation is introducing a new product next month. To prepare for the introduction, the marketing manager is having his sales force call on distributors to explain the unique features of the new product, how the distributors can best promote it, and what sales volume and profit margins they can reasonably expect. In addition, Canyonlands is budgeting 2% of its estimated sales for magazine advertising. This is an example of:  A. A pulling policy.  B. A pushing policy.  C. Selective distribution.  D. Exclusive distribution. 44) American Tourister, Inc.—a producer of luggage—is planning to introduce a new product line. The marketing manager is having her sales force call on retailers to explain American Tourister's consumer advertising plans, the unique features of the new luggage, how the distributors can best promote it, and what sales volume and profit margins they can reasonably expect. This is an example of:  A. Intensive distribution.  B. A pushing policy.  C. A pulling policy.  D. Selective distribution. 45) A producer using very aggressive promotion to get final consumers to ask intermediaries for a new product has:  A. A target marketing policy.  B. A pushing policy.  C. A pulling policy  D. A selective distribution policy. 46) Which of the following statements about positioning is NOT TRUE?  A. It refers to how customers think about proposed or present brands in a market.  B. It helps marketing managers know how customers view the firm's offering.  C. It often makes use of techniques such as perceptual mapping.  D. Positioning issues are especially important when competitors in a market are very dissimilar. 47) Positioning analysis  A. Is not a product-oriented approach.  B. Is a visual aid to understanding a product-market.            C. Shows that managers and customers usually view present brands similarly.  D. Helps managers understand the actual characteristics of their products. 48) Quality Ceramic, Inc. (QCI) defined five submarkets within its broad product-market. To obtain some economies of scale, QCI decided NOT to offer each of the submarkets a different marketing mix. Instead, it selected two submarkets whose needs are fairly similar, and is counting on promotion and minor product differences to make its one basic marketing mix appeal to both submarkets. QCI is using the  A. Single target market approach  B. Multiple target market approach.  C. Mass marketing approach.  D. Combined target market approach. 49) Which of the following is NOT a trend affecting marketing strategy planning in the area of international marketing?  A. More attention to exporting by small companies.  B. Global communication over the Internet.  C. Decreasing role of airfreight.  D. Tensions between have and have-not cultures. 50) When a company grows globally, this is an example of:  A. Product development.  B. Diversification.  C. Market penetration.  D. Market development 51) A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.  A. Standard market  B. Target market  C. Product-market  D. Generic market 52) Which of the following is a key trend affecting marketing strategy planning?  A. Slower new-product development.  B. Less use of technology in personal selling.  C. Growth of marketing information systems.  D. Senior and ethnic submarkets are getting smaller. 53) Which of the following statements DOES NOT indicate that a marketing manager is about to make a serious mistake?  A. "International competition is just a fad. We can ignore it."  B. "I leave marketing applications of technology to the information technology staff. There's no need for me to learn about them."  C. "I try to place myself in the position of the consumer and do unto others as I would have them do unto me."  D. "When it comes to my marketing strategy, if it ain't broke, don't fix it." 54) Identify the incorrect statement about sales promotions.  A. Sales promotions can be used as tools to overcome consumer price resistance.  B. Changes in technology have made sales promotions more efficient.  C. The availability of more ad agencies and specialists has spurred growth in sales promotions.  D. Sales promotions have increased because of competition in emerging markets. 55) Many Internet sites, such as Autobytel.com and Edmunds.com, have extensive information about the prices of new and used vehicles that anyone can use for free. In light of the availability of this information, what is the responsibility of consumers to use it?  A. Consumers have a responsibility to use the information and be smarter customers.  B. Consumers should not use it because it gives them an unfair advantage over car dealers.  C. Consumers should not trust any information they receive from any source except the government.  D. Consumers can use it, but should not feel a responsibility to do so. 56) Which of the following statements about ethical behavior in business is true?  A. The legal environment sets the maximum standards of ethical behavior.  B. The legal environment sets the highest standards of ethical behavior.  C. The legal environment sets the normative standards of ethical behavior.  D. The legal environment sets the minimum standards of ethical behavior 57) The future poses many challenges for marketing managers because:  A. The marketing concept has become obsolete.  B. New technologies are making it easier to abuse consumers' rights to privacy.  C. Social responsibility applies only to firms—not to consumers.  D. It is marketing managers who have full responsibility to preserve our macro-marketing system.

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341 Final Exam set2 25Questions RES 341 Final Exam set2 25Questions 1) A sufficiently large coverage error will result in which of the follo... Found In: Business & Finance

Q:	RES 341 Final Exam set2  25Questions  RES 341 Final Exam set2  25Questions   1) A sufficiently large coverage error will result in which of the following? A. Inability to perform inferential statistics B. Probability sampling C. Statistics about the actual population rather than the target population D. Non-response bias 2) A survey was mailed to a total of 400 students; 100 were randomly selected from each of the freshman, sophomore, junior and senior classes last semester. What sampling method was used? A. Simple random sample B. Cluster sample C. Stratified sample D. Systematic sample 3) A poll is planned to determine what proportion of all students favor an increase in fees to support a new track and field stadium. A questionnaire will be published and the first 1000 completed questionnaires will be analyzed. Which of the following errors will be associated with the sample? A. Sampling errors only B. Sampling errors and errors due to selection bias C. Errors due to interviewer bias and selection bias D. Only non-sampling errors 4) The collection and summarization of the socioeconomic and physical characteristics of the employees of a particular firm is an example of A. a statistic. B. inferential statistics. C. descriptive statistics. D. a parameter. 5) Which of the following statements is NOT true? A. A statistical test may be significant yet have no practical importance. B. Scientific progress consists of continual refinement of theories through hypothesis testing. C. Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. D. Estimating parameters is an important aspect of descriptive statistics. 6) Which of the following is NOT a reason one should have knowledge of statistics? A. To be able to mount an effective effort to change a government regulation that negatively affects one’s business B. To increase the amount of information available for use C. To make future projections of one’s sales D. To help interpret existing information 7) The _________ states that the population correlation between two variables is equal to zero or that the difference in the means of two groups in the population is equal to zero. A. nondirectional hypothesis B. directional hypothesis C. alternative hypothesis D. null hypothesis 8) The manipulation of the independent variable is known as the ________. A. experimental test B. treatment C. validity D. randomization 9) Which of these is NOT an acceptable type of survey question? A. leading question B. Likert scale C. ranking questions D. pictograms !10) Which of the following is NOT a basic step in conducting a survey? A. Develop a budget B. Secure financing for the survey C. Create a research design D. State the goals 11) Which of the following is NOT a potential source of survey error? A. Systemic error B. Nonresponse bias C. Sampling error D. Selection bias 12) Which of the following is NOT an ethical concern for the statistical researcher? A. Monetary compensation B. Informed consent C. Protection of confidentiality D. Use of sound methodology 13) Which of the following is NOT an ethical concern for the statistical researcher? A. Conceal financial support B. Accurate reporting of procedures C. Accepted procedures are followed D. Maintain data accuracy 14) Which of the following is not an ethical concern for the statistical researcher? A. Cite sources B. Manipulation of data C. Privacy of privacy D. Inhumane treatment of animals 15) Textbook Price Number of Textbooks $25 to $35 2 35 to 45 16 45 to 55 5 55 to 65 7 65 to 75 20 Estimate the mean price of a textbook. A. $55.40 B. $60.00 C. $554.00 D. $11.08 16) A study of the scores on an in plant course in management principles and the years of service of the employees enrolled in the course yielded the following statistics: Test Scores: mean=100 variance = 225 Years of Service: mean=5 variance = 81 Of test scores and years of service, which measure has the greater dispersion? A. It is impossible to tell. B. The short-run effects of those changes are always more beneficial to society than are the long-run effects. C. Test scores D. Years of service 17) A supermarket has determined that daily demand for eggs has a bell-shaped distribution, with a mean of 55 cartons and a standard deviation of six cartons. If the supermarket begins each morning with a stock of 61 cartons of eggs, approximately what percentage of days will there be a surplus of eggs? A. ˜84% B. ˜68% C. ˜16% D. ˜18% 18) Identify the scale which has no meaningful zero. A. ratio B. interval C. nominal D. ordinal 19) Which of these measurement scales has a rank order associated with its use? A. Likert B. Nominal C. Ordinal D. Ratio 20) Which measurement uses absolute values? A. interval scale B. harmonic scale C. ordinal scale D. ratio correct 21) The Information Commons in the main library has 150 personal computers. The probability that any one of them will require repair on a given day is 0.02. To find the probability that exactly 25 of the computers will require repair, one would use what type of probability distribution? A. Hypergeometric distribution B. Normal distribution C. Poisson distribution D. Binomial distribution 22) A multiple-choice test has 20 questions, and there are 4 choices for each question. A student comes to class with four different colored balls of identical shape and size in her pocket. She has decided to draw one ball from her pocket per question and allow the color of the ball to select the answer for each question. What type of probability distribution can be used to figure out her chance of getting 10 questions right? A. Binomial distribution B. Normal distribution C. Poisson distribution D. Hypergeometric distribution 23) Which of the following is a characteristic of every binomial distribution? A. The outcome of a trial depends on the number of trials. B. Each outcome is mutually exclusive. C. The probability of success increases from trial to trial. D. Each outcome is dependent on the previous outcome. 24) Which of these parameters associated with a binomial experiment will produce a probability distribution with the smallest standard deviation; given n is the same for each situation? A. (1- p) = 0.1. B. p = 0.3 C. p = 0.4 D. p = 0.5 25) The average qualifying speed for a championship NASCAR race is 145.65 mph and the standard deviation is 9.45 mph. Only drivers who obtain z-scores greater than 1.2 will qualify for the race. If the speeds are normally distributed, what minimum speed must be clocked to compete for the trophy? A. 174.8 mph B. 157.0 mph C. 155.2 mph D. 146.9 mph

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RES 341 Final _ Exam 3 35 Questions RES 341 Final _ Exam 3 35 Questions 1) When every member of a population has the chance of being selected based on the probability, or frequency, of its representation in that population, you are using which type of sampling? A. Convenience sample B. Census sample C. Random sample D. Quota sample 2) A poll is planned to determine what proportion of all students favor an increase in fees to support a new track and field stadium. A questionnaire will be published and the first 1000 completed questionnaires will be analyzed. Which of the following errors will be associated with the sample? A. Sampling errors only B. Sampling errors and errors due to selection bias C. Errors due to interviewer bias and selection bias D. Only non-sampling errors 3) A recent study of breast cancer revealed that 13% of the women in the sample used antibiotics more than 500 days in their lifetime. Further, 79% of these “heavy antibiotics users” developed breast cancer. According to the American Cancer Society, one in twelve women will develop breast cancer at some time in her life. Of the numbers mentioned, which are parameters? A. 79% and 500 days B. 79% and one in twelve C. 13% and 79% D. 13% and one in twelve 4) Which of the following is NOT a characteristic of an ideal statistician? A. Adapts answers to client desires B. Can deal with imperfect information C. Technically current (e.g. software) D. Communicates well (both written and oral) 5) Which of the following is NOT a reason one should have knowledge of statistics? A. To help interpret existing information B. To be able to mount an effective effort to change a government regulation that negatively affects one’s business C. To increase the amount of information available for use D. To make future projections of one’s sales 6) Which of the following statements is NOT true? A. Estimating parameters is an important aspect of descriptive statistics. B. A statistical test may be significant yet have no practical importance. C. Scientific progress consists of continual refinement of theories through hypothesis testing. D. Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data. 7) If terms such as positive, negative, more than, and less than, are used, then these hypotheses are_______. A. null hypotheses B. nondirectional hypotheses C. directional hypotheses D. alternative hypotheses !8) A __________ variable changes the relationship between the independent and dependent variables. A. intervening B. moderating C. dependent D. independent 9) Which of these is NOT an acceptable type of survey question? A. Fill in the blank B. Closed ended C. Open ended D. Prejudicial or biased questions !10) Name the item that is NOT a recognized survey guideline. A. ability to find friendly survey respondents B. design C. pilot or beta test D. quality control 11) Which of the following is NOT a potential source of survey error? A. Nonresponse bias B. Selection bias C. Sampling error D. Systemic error 12) Which of the following is NOT an ethical concern for the statistical researcher? A. Accurate reporting of procedures B. Maintain data accuracy C. Accepted procedures are followed D. Conceal financial support 13) Which of the following is NOT an ethical concern for the statistical researcher? A. Informed consent B. Use of sound methodology C. Protection of confidentiality D. Monetary compensation 14) Which of the following is not an ethical concern for the statistical researcher? A. Manipulation of data B. Inhumane treatment of animals C. Privacy of privacy D. Cite sources 15) A child was born into the Doe family each year for five consecutive years. What is the variance of the ages of the Doe children? A. 2.0 B. 4.6 C. 1.4 D. 2.5 16) The average score for a class of 30 students was 75. The 20 male students in the class averaged 70. The 10 female students in the class averaged A. 75 B. 80 C. 85 D. 70 17) A study of the scores on an in plant course in management principles and the years of service of the employees enrolled in the course yielded the following statistics: Test Scores: mean=100 variance = 225 Years of Service: mean=5 variance = 81 Of test scores and years of service, which measure has the greater dispersion? A. The short-run effects of those changes are always more beneficial to society than are the long-run effects. B. Test scores C. Years of service D. It is impossible to tell. 18) Identify the scale which has no meaningful zero. A. interval B. nominal C. ordinal D. ratio 19) Which measurement uses absolute values? A. harmonic scale B. ratio correct C. ordinal scale D. interval scale 20) Which of these measurement scales has a rank order associated with its use? A. Nominal B. Ratio C. Ordinal D. Likert 21) The Information Commons in the main library has 150 personal computers. The probability that any one of them will require repair on a given day is 0.02. To find the probability that exactly 25 of the computers will require repair, one would use what type of probability distribution? A. Normal distribution !B. Binomial distribution C. Poisson distribution D. Hypergeometric distribution 22) Which of the following is a characteristic of every binomial distribution? A. Each outcome is mutually exclusive. B. Each outcome is dependent on the previous outcome. C. The probability of success increases from trial to trial. D. The outcome of a trial depends on the number of trials. 23) A multiple-choice test has 20 questions, and there are 4 choices for each question. A student comes to class with four different colored balls of identical shape and size in her pocket. She has decided to draw one ball from her pocket per question and allow the color of the ball to select the answer for each question. What type of probability distribution can be used to figure out her chance of getting 10 questions right? A. Normal distribution B. Hypergeometric distribution C. Poisson distribution D. Binomial distribution 24) The Big Red Arcade and Pizza Palace caters to young teens and sells tokens to play arcade games for 25¢ each and slices of pizza for 50¢ each. The distribution of sales of pizza slices per customer and sales of arcade tokens per customer is below. # Slices of Pizza 0 1 2 3 4 5 Probability 0.05 0.10 0.20 0.30 0.15 0.20 # Arcade Games 0 1 2 3 4 5 Probability 0.01 0.04 0.15 0.20 0.25 0.35 What is the probability that revenues from pizza slice sales will be greater than $1.00 per customer? A. .85 B. .65 C. .43 D. .95 25) The average qualifying speed for a championship NASCAR race is 145.65 mph and the standard deviation is 9.45 mph. Only drivers who obtain z-scores greater than 1.2 will qualify for the race. If the speeds are normally distributed, what minimum speed must be clocked to compete for the trophy? A. 157.0 mph B. 174.8 mph C. 155.2 mph D. 146.9 mph 26) The Big Red Arcade and Pizza Palace caters to young teens and sells tokens to play arcade games for 25¢ each and slices of pizza for 50¢ each. The following table details the distribution of sales of pizza slices per customer and sales of arcade tokens per customer. # Slices of Pizza 1 2 3 4 5 Probability 0.05 0.10 0.20 0.30 0.15 0.20 # Arcade Games 1 2 3 4 5 Probability 0.01 0.04 0.15 0.20 0.25 0.35 A. $2.42 B. $1.34 C. $2.60 D. $6.69 27) The standard error of the sample mean is equal to 5 when n=25. If the sample size increases by a factor of four, how will the standard error change? A. It will be cut to ¼ of 5 B. It will quadruple C. It will be cut in half D. It will double 28) The use of the student’s t distribution requires which of the following assumptions? A. The population is normal B. The sample is drawn from a positively skewed distribution C. The population variance is known D. The sample size is greater than 30 29) The expected value of the sampling distribution of the sample mean equals the population mean A. when the population size N > 30. B. for all populations. C. when the population is symmetric. D. when the population is normally distributed. 30) A random sample of 25 observations is selected from a normally distributed population. The sample variance is 10. In the 95% confidence interval for the population variance, the upper limit will be A. 17.331 B. 19.353 C. 6.097 D. 17.110 31) A study of 200 insomniacs paid for by the Serta Mattress Company found that the average insomniac counted 350 sheep before falling asleep, with a standard deviation of 120. An insomniac is a person who has difficulty falling asleep. Some useful numbers might be: =NORMSINV(0.89) 1.2265 =NORMSINV(0.945) 1.5982 =TINV(0.89,199) 0.1385 =TINV(0.11,199) 1.6053 =TINV(0.055,199) 1.9302 Calculate an 89% confidence interval for the true mean number of sheep counted by insomniacs. A. 350±13.62 B. 350±13.56 C. 350±16.38 D. 350±10.41 32) Summary statistics computed from two independent samples are as follows: n1 = 50, x1 = 175, s1 = 18.5, n2 = 42, x2 = 158, and s2 = 32.4. Construct a 95% confidence interval estimate for the difference between the means of two normally distributed populations, where the unknown population variances are assumed to not be equal. The upper confidence limit is A. 24.911. B. 28.212. C. 5.788. D. 19.123. 33) To tell if the standard deviation of a process has changed, the control charts used are A. R and S charts. B. p and R charts. C. S and x bar charts. D. x bar and p charts. 34) In statistical process control, a Type I error occurs if we decide that the process is A. under control when it is under control. B. out of control when it is under control. C. out of control when it is out of control. D. under control when it is out of control. 35) When the only sources of variation in a production process are caused by chance, the process is said to be A. under control. B. out of control but in balance. C. out of control. D. out of balance but under control.

RES 341 Final _ Exam 3 35 Questions

RES 341 Final _ Exam 3 35 Questions

1) When every member of a population has the chance of being selected based on the probability, or frequency, of its representation in that population, you are using which type of sampling?
  A.  Convenience sample
  B.  Census sample
  C.  Random sample
  D.  Quota sample


2) A poll is planned to determine what proportion of all students favor an increase in fees to support a new track and field stadium. A questionnaire will be published and the first 1000 completed questionnaires will be analyzed. Which of the following errors will be associated with the sample?
  A.   Sampling errors only
  B.   Sampling errors and errors due to selection bias
  C.   Errors due to interviewer bias and selection bias
  D.   Only non-sampling errors


3) A recent study of breast cancer revealed that 13% of the women in the sample used antibiotics more than 500 days in their lifetime. Further, 79% of these “heavy antibiotics users” developed breast cancer. According to the American Cancer Society, one in twelve women will develop breast cancer at some time in her life. Of the numbers mentioned, which are parameters?
  A.   79% and 500 days
  B.   79% and one in twelve
  C.   13% and 79%
  D.   13% and one in twelve

4) Which of the following is NOT a characteristic of an ideal statistician?
  A.  Adapts answers to client desires
  B.  Can deal with imperfect information
  C.  Technically current (e.g. software)
  D.  Communicates well (both written and oral)

5) Which of the following is NOT a reason one should have knowledge of statistics?
  A.  To help interpret existing information
  B.  To be able to mount an effective effort to change a government regulation that negatively affects one’s business
  C.  To increase the amount of information available for use
  D.  To make future projections of one’s sales

6) Which of the following statements is NOT true?
  A.   Estimating parameters is an important aspect of descriptive statistics.
  B.   A statistical test may be significant yet have no practical importance.
  C.   Scientific progress consists of continual refinement of theories through hypothesis testing.
  D.   Statistics is the science of collecting, organizing, analyzing, interpreting, and presenting data.

7) If terms such as positive, negative, more than, and less than, are used, then these hypotheses are_______.
  A.  null hypotheses
  B.  nondirectional hypotheses
  C.  directional hypotheses
  D.  alternative hypotheses

!8) A __________ variable changes the relationship between the independent and dependent variables.
  A.  intervening
  B.  moderating
  C.  dependent
  D.  independent
 9) Which of these is NOT an acceptable type of survey question?
  A.  Fill in the blank
  B.  Closed ended
  C.  Open ended
  D.  Prejudicial or biased questions

!10) Name the item that is NOT a recognized survey guideline.
  A.  ability to find friendly survey respondents
  B.  design
  C.  pilot or beta test
  D.  quality control

11) Which of the following is NOT a potential source of survey error?
  A.  Nonresponse bias
  B.  Selection bias
  C.  Sampling error
  D.  Systemic error

12) Which of the following is NOT an ethical concern for the statistical researcher?
  A.  Accurate reporting of procedures
  B.  Maintain data accuracy
  C.  Accepted procedures are followed
  D.  Conceal financial support

13) Which of the following is NOT an ethical concern for the statistical researcher?
  A.  Informed consent
  B.  Use of sound methodology
  C.  Protection of confidentiality
  D.  Monetary compensation

14) Which of the following is not an ethical concern for the statistical researcher?
  A.  Manipulation of data
  B.  Inhumane treatment of animals
  C.  Privacy of privacy
  D.  Cite sources

15) A child was born into the Doe family each year for five consecutive years. What is the variance of the ages of the Doe children?
   A.  2.0
  B.  4.6
  C.  1.4
  D.  2.5

16) The average score for a class of 30 students was 75. The 20 male students in the class averaged 70. The 10 female students in the class averaged
  A.  75
  B.  80
  C.  85
  D.  70

 17) A study of the scores on an in plant course in management principles and the years of service of the employees enrolled in the course yielded the following statistics: Test Scores: mean=100 variance = 225 Years of Service: mean=5 variance = 81 Of test scores and years of service, which measure has the greater dispersion?
  A.  The short-run effects of those changes are always more beneficial to society than are the long-run effects.
  B.   Test scores
  C.   Years of service
  D.   It is impossible to tell.

18) Identify the scale which has no meaningful zero.
  A.  interval
  B.  nominal
  C.  ordinal
  D.  ratio

19) Which measurement uses absolute values?
  A.  harmonic scale
  B.  ratio correct
  C.  ordinal scale
  D.  interval scale

 20) Which of these measurement scales has a rank order associated with its use?
  A.  Nominal
  B.  Ratio
  C.  Ordinal
  D.  Likert

21) The Information Commons in the main library has 150 personal computers. The probability that any one of them will require repair on a given day is 0.02. To find the probability that exactly 25 of the computers will require repair, one would use what type of probability distribution?
  A.   Normal distribution
 !B.   Binomial distribution
  C.   Poisson distribution
  D.   Hypergeometric distribution

22) Which of the following is a characteristic of every binomial distribution?
  A.   Each outcome is mutually exclusive.
  B.   Each outcome is dependent on the previous outcome.
  C.   The probability of success increases from trial to trial.
  D.   The outcome of a trial depends on the number of trials.

23) A multiple-choice test has 20 questions, and there are 4 choices for each question. A student comes to class with four different colored balls of identical shape and size in her pocket. She has decided to draw one ball from her pocket per question and allow the color of the ball to select the answer for each question. What type of probability distribution can be used to figure out her chance of getting 10 questions right?
  A.   Normal distribution
  B.   Hypergeometric distribution
  C.   Poisson distribution
  D.   Binomial distribution

24) The Big Red Arcade and Pizza Palace caters to young teens and sells tokens to play arcade games for 25¢ each and slices of pizza for 50¢ each. The distribution of sales of pizza slices per customer and sales of arcade tokens per customer is below.
 # Slices of Pizza 0 1 2 3 4 5 Probability 0.05 0.10 0.20 0.30 0.15 0.20 # Arcade Games 0 1 2 3 4 5 Probability 0.01 0.04 0.15 0.20 0.25 0.35 What is the probability that revenues from pizza slice sales will be greater than $1.00 per customer?
 A. .85
 B. .65
 C. .43
 D. .95

25) The average qualifying speed for a championship NASCAR race is 145.65 mph and the standard deviation is 9.45 mph. Only drivers who obtain z-scores greater than 1.2 will qualify for the race. If the speeds are normally distributed, what minimum speed must be clocked to compete for the trophy?
  A.  157.0 mph
  B.  174.8 mph
  C.  155.2 mph
  D.  146.9 mph

26) The Big Red Arcade and Pizza Palace caters to young teens and sells tokens to play arcade games for 25¢ each and slices of pizza for 50¢ each. The following table details the distribution of sales of pizza slices per customer and sales of arcade tokens per customer.
# Slices of Pizza                              1                  2                  3                  4                  5
Probability              0.05             0.10             0.20             0.30             0.15             0.20

# Arcade Games                             1                  2                  3                  4                  5
Probability               0.01             0.04             0.15             0.20             0.25             0.35
  A.  $2.42
  B.  $1.34
  C.  $2.60
  D.  $6.69

27) The standard error of the sample mean is equal to 5 when n=25. If the sample size increases by a factor of four, how will the standard error change?
  A.   It will be cut to ¼ of 5
  B.   It will quadruple
  C.   It will be cut in half
  D.   It will double

28) The use of the student’s t distribution requires which of the following assumptions?
   A.   The population is normal
  B.   The sample is drawn from a positively skewed distribution
  C.   The population variance is known
  D.   The sample size is greater than 30

 29) The expected value of the sampling distribution of the sample mean equals the population mean
  A.   when the population size N > 30.
  B.   for all populations.
  C.   when the population is symmetric.
  D.   when the population is normally distributed.

30) A random sample of 25 observations is selected from a normally distributed population. The sample variance is 10. In the 95% confidence interval for the population variance, the upper limit will be
   A.  17.331
  B.  19.353
  C.  6.097
  D.  17.110

 31) A study of 200 insomniacs paid for by the Serta Mattress Company found that the average insomniac counted 350 sheep before falling asleep, with a standard deviation of 120. An insomniac is a person who has difficulty falling asleep. Some useful numbers might be:
   =NORMSINV(0.89) 1.2265
 =NORMSINV(0.945) 1.5982
 =TINV(0.89,199) 0.1385
 =TINV(0.11,199) 1.6053
 =TINV(0.055,199) 1.9302
 Calculate an 89% confidence interval for the true mean number of sheep counted by insomniacs.
  A.  350±13.62
  B.  350±13.56
  C.  350±16.38
  D.  350±10.41

32) Summary statistics computed from two independent samples are as follows: n1 = 50, x1 = 175, s1 = 18.5, n2 = 42, x2 = 158, and s2 = 32.4. Construct a 95% confidence interval estimate for the difference between the means of two normally distributed populations, where the unknown population variances are assumed to not be equal. The upper confidence limit is
  A.  24.911.
  B.  28.212.
  C.  5.788.
  D.  19.123.

33) To tell if the standard deviation of a process has changed, the control charts used are
  A.  R and S charts.
  B.  p and R charts.
  C.  S and x bar charts.
  D.  x bar and p charts.

34) In statistical process control, a Type I error occurs if we decide that the process is
  A.   under control when it is under control.
  B.   out of control when it is under control.
  C.   out of control when it is out of control.
  D.   under control when it is out of control.

35) When the only sources of variation in a production process are caused by chance, the process is said to be
  A.   under control.
  B.   out of control but in balance.
  C.   out of control.
  D.   out of balance but under control.