Math 533 Applied Managerial Statistics Final Exam Study Guide

1. MATH533 Final Exam Study Guide
YOU MAY WANT TO PRINT THIS GUIDE.
1. The Final Exam is open book, open notes. The maximum time you can spend in the exam is 3 hours,
30 minutes. If you have not clicked the Submit for Grading button by then, you will be automatically
exited from the exam. In the Final Exam environment, the Windows clipboard is disabled, so you will not
be able to copy exam questions or answers to or from other applications.
2. You should click the Save Answers button in the exam frequently.
This helps prevent connection timeouts that might occur with certain Internet Service Providers, and
also minimizes lost answers in the event of connection problems. If your Internet connection does
break, when you reconnect, you will normally be able to get back into your Final Exam without any
trouble. Remember, though, that the exam timer continues to run while students are disconnected, so
students should try to log in again as quickly as possible. The Help Desk cannot grant any student
additional time on the exam.
3. See Syllabus "Due Dates for Assignments & Exams" for due date information.
4. Reminders
• You will only be able to enter your online Final Exam one time.
• Click the Save Answers button often.
• If you lose your Internet connection during your Final Exam, log on again and try to access your
Final Exam. If you are unable to enter the Final Exam, first contact the Help Desk and then your
instructor.
• You will always be able to see the time remaining in the Final Exam at the top right of the page.
5. Assessments with Multiple Pages
• Make sure you click the Save Answers button before advancing to the next page (we also
suggest clicking on Save Answers while you are working).
• Complete all of the pages before submitting your Final Exam for instructor review.
• Do NOT use your browser's Back and Forward buttons during the Final Exam.
• Please use the provided links for navigation.
• Pages can be completed in any order. You may go back and forth between the pages.
6. Submitting Your Final Exam
• When you are finished with the Final Exam, click on the Submit for Grading button.
• Please note: Once you click the Submit for Grading button, you will NOT be able to edit or
change any of your answers.
7. Exam Questions
• There are 10 randomly selected essay questions each worth 25 points for a total of 250 points.
• The Final Exam covers all course TCOs and Weeks 1–7.

2. MATH533 Final Exam Study Guide
• The Final Exam questions are pooled. This means that not everyone will have the same
questions. Even if you do have some of the same questions, they may not be in the same order.
These questions are distributed amongst the TCOs. The entire exam is worth 250 points.
• On the essay questions, your answers should be succinct, fully address each part of the
question, and demonstrate your knowledge and understanding in a concise but complete
answer.
• Remember to always use proper citation when quoting other sources. This means that ANY
borrowed material (even a short phrase) should be placed in quotation marks with the source
(URL, author/date/page #) immediately following the end of the passage (the end quote).
Changing a few words in a passage does NOT constitute putting it in your own words and proper
citation is still required. Borrowed material should NOT dominate a student’s work, but should
only be used sparingly to support your own thoughts, ideas, and examples. Heavy usage of
borrowed material (even if properly cited) can jeopardize the points for that question. Uncited
material can jeopardize a passing grade on the exam. As a part of our commitment to academic
integrity, your work may be submitted to turnitin.com, an online plagiarism checking service. So
please be VERY mindful of proper citation.
• The Final Exam essay questions are a blending of the weekly quizzes, in that they are problem-
based, AND the Course Project, in that interpretations may be required as well as calculations.
8. Some of the key study areas are below. While these are key areas, remember that the exam is
comprehensive for all of the assigned course content and this study guide may not be all inclusive.
• TCO A
o Exploratory Data Analysis
o Central Tendency and Dispersion
o Qualitative and Quantitative Variables
o Numerical Measures
o Graphical Methods for Describing Data
• TCO B
o Probability
o Contingency Tables
o The Binomial Distribution
o The Normal Distribution
o Sampling Distributions
• TCO C
o Large Sample Confidence Intervals for the Mean
o Small Sample Confidence Intervals for the Mean
o Large Sample Confidence Intervals for the Proportion
o Sample Size Determination for the Mean
o Sample Size Determinations for the Proportion
• TCO D
o Large Sample Hypothesis Tests for the Mean
o Small Sample Hypothesis Tests for the Mean
o Large Sample Hypothesis Tests for the Proportion
• TCO E

3. MATH533 Final Exam Study Guide
o Simple Regression
o Multiple Regression
• TCO F
o Read and Interpret Minitab Output
9. Areas that were discussed in the threads will be prime targets.
10. Assignments will also be prime targets for revisiting.
11. Reviewing the TCOs, which I have listed below for your convenience, will also be a great preparation
for the Final Exam.
DeVry University course content is constructed from curriculum guides developed for each course that
are in alignment with specific Terminal Course Objectives. The Terminal Course Objectives (TCOs)
define the learning objectives that the student will be required to comprehend and demonstrate by
course completion. The TCOs that will be covered in detail each week can be found in the Objectives
section for that particular week. Whenever possible, a reference will be made from a particular
assignment or discussion back to the TCO that it emphasizes.
Given a managerial problem and accompanying data set, construct graphs (following principles of
ethical data presentation), calculate and interpret numerical summaries appropriate for the
A
situation. Use the graphs and numerical summaries as aids in determining a course of action
relative to the problem at hand.
Given a managerial problem, utilize basic probability concepts, and standard probability
B distributions, e.g., binomial, normal, as is appropriate, to formulate a course of action which
addresses the problem.
Given a managerial problem and accompanying data set, for which application of a confidence
C interval is appropriate, construct an interval, assess its validity, and use the confidence interval in
developing a course of action relative to a problem.
Given a managerial problem and accompanying data set, for which the test of a hypothesis is
D appropriate, conduct an appropriate statistical test, assess the validity of the test, and use the test
results to decide on a course of action relative to a problem.
Given a managerial problem and accompanying data set, for which regression analysis—simple or
multiple—is appropriate, fit a regression model to the data, determine the validity and utility of
E
the model, and use the model, if appropriate, to determine a course of action intended to deal
with a problem.
Students should be able to perform the necessary calculations for objectives A through E using
F technology, whether that is a computer statistical package or the TI-83, and be able to use the
output to address a problem at hand.

4. MATH533 Final Exam Study Guide
Finally, if you have any questions for me, please post them to our Q & A, or e-mail me. Good luck on the
exam!