Question 1

All of the following are measures of central tendency except the ________.

Accepted Answer

A)  range 
B)  mode 
C)  mean 
D)  median 
A)  range 
B)  mode 
C)  mean 
D)  median A

Question 2

In a statistics class, the following 10 scores were randomly selected: 74, 73, 77, 77, 71, 68, 65, 77, 67, 66. What is the mode?

Accepted Answer

A)  71.5 
B)  72.0 
C)  77.0 
D)  71.0 
E)  73.0 
A)  71.5 
B)  72.0 
C)  77.0 
D)  71.0 
E)  73.0 C

Question 3

In a hearing test, subjects estimate the loudness (in decibels) of a sound, and the results are: 68, 67, 70, 71, 68, 75, 68, 62, 80, 73, 68. What is the mode?

Accepted Answer

A)  70 
B)  75 
C)  68 
D)  71 
E)  80 
A)  70 
B)  75 
C)  68 
D)  71 
E)  80 C

Question 4

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes). 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
What are the lower and upper limits of a box-and-whiskers display of this data?

Accepted Answer

A)  80.5, 154.00 
B)  108.5, 128.5 
C)  127.75, 138.25 
D)  143.50, 154.00 
E)  15.75, 31.50 
A)  80.5, 154.00 
B)  108.5, 128.5 
C)  127.75, 138.25 
D)  143.50, 154.00 
E)  15.75, 31.50

Question 5

In an analysis of the relationship between the average weekly temperature in a major city and the per person consumption of ice cream (pints), a least squares line is defined by the equation 5.72 + .004x. Predict the average amount of ice cream consumed when it is 50° outside.

Accepted Answer

5.92 pints

Question 6

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent. Annual sales in 2005 were $14.2 million. Find the ending value of sales after this four-year period. (Round your answer to 2 decimal places.)

Accepted Answer

$26.09 mil

Question 7

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes): 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118. What is the mode?

Accepted Answer

A)  114.15 
B)  118 
C)  148 
D)  45 
E)  115.5 
A)  114.15 
B)  118 
C)  148 
D)  45 
E)  115.5

Question 8

Z-score is often used as a measure of risk.

Accepted Answer

A) True 
 B)False

Question 9

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes; mean = 114.15): 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118.
What is the range?

Accepted Answer

A)  103 
B)  23.62 
C)  557.97 
D)  128.8 
E)  115 
A)  103 
B)  23.62 
C)  557.97 
D)  128.8 
E)  115

Question 10

The population mean is the average of the population measurements.

Accepted Answer

A) True 
 B)False

Question 11

An initial investment of $10,000 has a value of $7,382 at the end of year 1, a rate of return of 62.43 percent for year 2, and a geometric mean return at the end of year 3 of .512. Determine the rate of return for the third year.

Accepted Answer

188.3% for R₃ R_g = .512 = (³√(R₁ +

Question 12

In a hearing test, randomly selected subjects estimate the loudness (in decibels) of a sound, and the results are (mean = 70): 68, 67, 70, 71, 68, 75, 68, 62, 80, 73, 68. What is the standard deviation?

Accepted Answer

A)  18 
B)  4.73 
C)  22.40 
D)  324 
E)  6.76 
A)  18 
B)  4.73 
C)  22.40 
D)  324 
E)  6.76

Question 13

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. She took a random sample of the price of 10 computers, with the following results. $3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000
What is the IQR?

Accepted Answer

A)  681 
B)  454 
C)  1362 
D)  255 
E)  6120 
A)  681 
B)  454 
C)  1362 
D)  255 
E)  6120

Question 14

If the mean is greater than the median, then the relative frequency curve is most likely to be ________.

Accepted Answer

A)  skewed right 
B)  skewed left 
C)  symmetrical 
D)  bimodal 
A)  skewed right 
B)  skewed left 
C)  symmetrical 
D)  bimodal

Question 15

The rate of return for each of the past four years on a market fund are R1 = 2.4%, R2 = 1.0%, R3 = −3.2%, and R4 = .5%. Find the geometric mean rate of return.

Accepted Answer

.0015 R_g = ( @#IMG-DLM& ) − 1 =

Question 16

A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company. From survey data gathered two years ago, the researchers found the following table. Calculate the average age to give to the CEO.
   Average age = 33.7

Accepted Answer

The answer of A company CEO asked the marketing research...

Question 17

According to Chebyshev's theorem, a range of how many standard deviations would include at least 80 percent of the values?

Accepted Answer

A)  5.0 
B)  2.2 
C)  2.5 
D)  1.6 
E)  2.0 
A)  5.0 
B)  2.2 
C)  2.5 
D)  1.6 
E)  2.0

Question 18

The range of the measurement is the largest measurement plus the smallest measurement.

Accepted Answer

A) True 
 B)False

Question 19

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes; mean = 114.15): 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118.
What is the variance?

Accepted Answer

A)  103 
B)  23.62 
C)  557.97 
D)  128.8 
E)  115 
A)  103 
B)  23.62 
C)  557.97 
D)  128.8 
E)  115

Question 20

The ending value of an initial investment can be calculated using weighted means.

Accepted Answer

A) True 
 B)False

All of the following are measures of central tendency except the ________.

In a statistics class, the following 10 scores were randomly selected: 74, 73, 77, 77, 71, 68, 65, 77, 67, 66. What is the mode?

In a hearing test, subjects estimate the loudness (in decibels) of a sound, and the results are: 68, 67, 70, 71, 68, 75, 68, 62, 80, 73, 68. What is the mode?

In an analysis of the relationship between the average weekly temperature in a major city and the per person consumption of ice cream (pints), a least squares line is defined by the equation 5.72 + .004x. Predict the average amount of ice cream consumed when it is 50° outside.

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent. Annual sales in 2005 were $14.2 million. Find the ending value of sales after this four-year period. (Round your answer to 2 decimal places.)

Z-score is often used as a measure of risk.

The population mean is the average of the population measurements.

An initial investment of $10,000 has a value of $7,382 at the end of year 1, a rate of return of 62.43 percent for year 2, and a geometric mean return at the end of year 3 of .512. Determine the rate of return for the third year.

In a hearing test, randomly selected subjects estimate the loudness (in decibels) of a sound, and the results are (mean = 70): 68, 67, 70, 71, 68, 75, 68, 62, 80, 73, 68. What is the standard deviation?

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. She took a random sample of the price of 10 computers, with the following results. $3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000 What is the IQR?

If the mean is greater than the median, then the relative frequency curve is most likely to be ________.

The rate of return for each of the past four years on a market fund are R₁ = 2.4%, R₂ = 1.0%, R₃ = −3.2%, and R₄ = .5%. Find the geometric mean rate of return.

A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company. From survey data gathered two years ago, the researchers found the following table. Calculate the average age to give to the CEO. Average age = 33.7

According to Chebyshev's theorem, a range of how many standard deviations would include at least 80 percent of the values?

The range of the measurement is the largest measurement plus the smallest measurement.

The ending value of an initial investment can be calculated using weighted means.

An Introduction to Business Statistics and Analytics

Descriptive Statistics and Analytics: Tabular and Graphical Methods

Probability and Probability Models

Predictive Analytics I: Trees, K-Nearest Neighbors, Naive Bayes,

Discrete Random Variables

Continuous Random Variables

Sampling Distributions

Confidence Intervals

Hypothesis Testing

Statistical Inferences Based on Two Samples

Experimental Design and Analysis of Variance

Chi-Square Tests

Simple Linear Regression Analysis

Multiple Regression and Model Building

Predictive Analytics Ii: Logistic Regression, Discriminate Analysis,

Time Series Forecasting and Index Numbers

Nonparametric Methods

Decision Theory

Filters

Exam 3: Descriptive Statistics and Analytics: Numerical Methods

All of the following are measures of central tendency except the ________.

In a statistics class, the following 10 scores were randomly selected: 74, 73, 77, 77, 71, 68, 65, 77, 67, 66. What is the mode?

In a hearing test, subjects estimate the loudness (in decibels) of a sound, and the results are: 68, 67, 70, 71, 68, 75, 68, 62, 80, 73, 68. What is the mode?

In an analysis of the relationship between the average weekly temperature in a major city and the per person consumption of ice cream (pints), a least squares line is defined by the equation 5.72 + .004x. Predict the average amount of ice cream consumed when it is 50° outside.

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent. Annual sales in 2005 were $14.2 million. Find the ending value of sales after this four-year period. (Round your answer to 2 decimal places.)

Z-score is often used as a measure of risk.

The population mean is the average of the population measurements.

An initial investment of $10,000 has a value of $7,382 at the end of year 1, a rate of return of 62.43 percent for year 2, and a geometric mean return at the end of year 3 of .512. Determine the rate of return for the third year.

In a hearing test, randomly selected subjects estimate the loudness (in decibels) of a sound, and the results are (mean = 70): 68, 67, 70, 71, 68, 75, 68, 62, 80, 73, 68. What is the standard deviation?

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. She took a random sample of the price of 10 computers, with the following results. $3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000 What is the IQR?

If the mean is greater than the median, then the relative frequency curve is most likely to be ________.

The rate of return for each of the past four years on a market fund are R1 = 2.4%, R2 = 1.0%, R3 = −3.2%, and R4 = .5%. Find the geometric mean rate of return.

A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company. From survey data gathered two years ago, the researchers found the following table. Calculate the average age to give to the CEO. Average age = 33.7

According to Chebyshev's theorem, a range of how many standard deviations would include at least 80 percent of the values?

The range of the measurement is the largest measurement plus the smallest measurement.

The ending value of an initial investment can be calculated using weighted means.

An Introduction to Business Statistics and Analytics

Descriptive Statistics and Analytics: Tabular and Graphical Methods

Probability and Probability Models

Predictive Analytics I: Trees, K-Nearest Neighbors, Naive Bayes,

Discrete Random Variables

Continuous Random Variables

Sampling Distributions

Confidence Intervals

Hypothesis Testing

Statistical Inferences Based on Two Samples

Experimental Design and Analysis of Variance

Chi-Square Tests

Simple Linear Regression Analysis

Multiple Regression and Model Building

Predictive Analytics Ii: Logistic Regression, Discriminate Analysis,

Time Series Forecasting and Index Numbers

Nonparametric Methods

Decision Theory

Filters

The rate of return for each of the past four years on a market fund are R₁ = 2.4%, R₂ = 1.0%, R₃ = −3.2%, and R₄ = .5%. Find the geometric mean rate of return.