Question 1

Chebyshev's Theorem is only of practical use when analyzing a non-mound-shaped population that is not very skewed.

Accepted Answer

A) True 
 B)False

Question 2

From the following table of values and corresponding sample sizes, calculate the weighted mean.

Accepted Answer

4.1
(3.1 × 9 + 5.1 ×

Question 3

In a study of the factors that affect success in economics, data were collected for 8 business students. Scores on a calculus placement test are given with economics final exam scores. The data are below.   It can be shown that for these data:   = 17.75,   = 70.38,   = 237.50,   = 545.875,   (   −   ) = 140.75.
Calculate b1.

Accepted Answer

A)  .15 
B)  .26 
C)  .59 
D)  −.59 
E)  −.26 
A)  .15 
B)  .26 
C)  .59 
D)  −.59 
E)  −.26

Question 4

It is appropriate to use the Empirical Rule to describe a population that is extremely skewed.

Accepted Answer

A) True 
 B)False

Question 5

The mode is the measurement in a sample or population that occurs most frequently.

Accepted Answer

A) True 
 B)False

Question 6

In a study of employee stock ownership plans, data were collected at seven companies on satisfaction with the plan and the amount of organization commitment.
   It can be shown that for these data   = 4.66,   = 4.99,   = 2.23,   = 1.95,   (   −   ) = 1.898.
Calculate b1.

Accepted Answer

.851 @#IMG-DLM& = @#IMG-DLM& ( @#IMG-DLM& − @#IMG-DLM& ) /(n

Question 7

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 third quartile?

Accepted Answer

A)  $1,446.50 
B)  $2,617.00 
C)  $3,415.75 
D)  $3,449.00 
E)  $4,212.00 
A)  $1,446.50 
B)  $2,617.00 
C)  $3,415.75 
D)  $3,449.00 
E)  $4,212.00

Question 8

Interpret a lift ratio of .9259.

Accepted Answer

7.41 percent of customers with similar p

Question 9

Compute the sample standard deviation of the data set 6, 4, 2, 1, 4, 1.

Accepted Answer

A)  1.83 
B)  2.00 
C)  1.41 
D)  3.33 
E)  4.00 
A)  1.83 
B)  2.00 
C)  1.41 
D)  3.33 
E)  4.00

Question 10

An interval that contains a specified percentage of the individual measurements is called a(n) ________ interval.

Accepted Answer

A)  three-sigma 
B)  tolerance 
C)  normal 
D)  empirical 
A)  three-sigma 
B)  tolerance 
C)  normal 
D)  empirical

Question 11

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

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

Question 12

Find the coefficient of variation for IQ tests with a mean of 100 and a standard deviation of 15.

Accepted Answer

A)  15.0 
B)  6.7 
C)  .15 
D)  1.5 
E)  67 
A)  15.0 
B)  6.7 
C)  .15 
D)  1.5 
E)  67

Question 13

A real estate appraiser is gathering housing sales data by street in the neighborhood in preparation for his next job. Listed below are the six streets and the average sales price and the houses sold in the last 12 months. Calculate the mean sales price for the neighborhood.

Accepted Answer

The answer of A real estate appraiser is gathering housing...

Question 14

Compute the population variance of these data: 16, 18, 23, 21, 17, 16, 24, 23, 9, 17, 11, 16, 22, 10, 15, 14.

Accepted Answer

A)  21.9 
B)  3.87 
C)  20.5 
D)  17.0 
E)  3.625 
A)  21.9 
B)  3.87 
C)  20.5 
D)  17.0 
E)  3.625

Question 15

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 standard deviation?

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 16

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 90th percentile?

Accepted Answer

A)  100.8 
B)  118 
C)  130 
D)  112 
E)  45 
A)  100.8 
B)  118 
C)  130 
D)  112 
E)  45

Question 17

Quality control is an important issue at ACME Company, which manufactures light bulbs. To test the life-hours of their light bulbs, they randomly sampled nine light bulbs and measured how many hours they lasted: 378, 361, 350, 375, 200, 391, 375, 368, 321. What is the mean?

Accepted Answer

A)  375 
B)  368 
C)  389.9 
D)  200 
E)  346.6 
A)  375 
B)  368 
C)  389.9 
D)  200 
E)  346.6

Question 18

The population mean is the point estimate of the sample mean.

Accepted Answer

A) True 
 B)False

Question 19

Quality control is an important issue at ACME Company, which manufactures light bulbs. To test the life-hours of their light bulbs, they randomly sampled nine light bulbs and measured how many hours they lasted (mean = 346.6). 378, 361, 350, 375, 200, 391, 375, 368, 321
What is the standard deviation?

Accepted Answer

A)  342.43 
B)  3424.3 
C)  58.5 
D)  191 
E)  10,609 
A)  342.43 
B)  3424.3 
C)  58.5 
D)  191 
E)  10,609

Question 20

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 10th percentile?

Accepted Answer

A)  99 
B)  120 
C)  130 
D)  112 
E)  45 
A)  99 
B)  120 
C)  130 
D)  112 
E)  45

Chebyshev's Theorem is only of practical use when analyzing a non-mound-shaped population that is not very skewed.

From the following table of values and corresponding sample sizes, calculate the weighted mean.

It is appropriate to use the Empirical Rule to describe a population that is extremely skewed.

The mode is the measurement in a sample or population that occurs most frequently.

In a study of employee stock ownership plans, data were collected at seven companies on satisfaction with the plan and the amount of organization commitment. It can be shown that for these data = 4.66, = 4.99, = 2.23, = 1.95, ( − ) = 1.898. Calculate b₁.

Interpret a lift ratio of .9259.

Compute the sample standard deviation of the data set 6, 4, 2, 1, 4, 1.

An interval that contains a specified percentage of the individual measurements is called a(n) ________ interval.

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

Find the coefficient of variation for IQ tests with a mean of 100 and a standard deviation of 15.

A real estate appraiser is gathering housing sales data by street in the neighborhood in preparation for his next job. Listed below are the six streets and the average sales price and the houses sold in the last 12 months. Calculate the mean sales price for the neighborhood.

Compute the population variance of these data: 16, 18, 23, 21, 17, 16, 24, 23, 9, 17, 11, 16, 22, 10, 15, 14.

Quality control is an important issue at ACME Company, which manufactures light bulbs. To test the life-hours of their light bulbs, they randomly sampled nine light bulbs and measured how many hours they lasted: 378, 361, 350, 375, 200, 391, 375, 368, 321. What is the mean?

The population mean is the point estimate of the sample mean.

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

Chebyshev's Theorem is only of practical use when analyzing a non-mound-shaped population that is not very skewed.

From the following table of values and corresponding sample sizes, calculate the weighted mean.

It is appropriate to use the Empirical Rule to describe a population that is extremely skewed.

The mode is the measurement in a sample or population that occurs most frequently.

In a study of employee stock ownership plans, data were collected at seven companies on satisfaction with the plan and the amount of organization commitment. It can be shown that for these data = 4.66, = 4.99, = 2.23, = 1.95, ( − ) = 1.898. Calculate b1.

Interpret a lift ratio of .9259.

Compute the sample standard deviation of the data set 6, 4, 2, 1, 4, 1.

An interval that contains a specified percentage of the individual measurements is called a(n) ________ interval.

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

Find the coefficient of variation for IQ tests with a mean of 100 and a standard deviation of 15.

A real estate appraiser is gathering housing sales data by street in the neighborhood in preparation for his next job. Listed below are the six streets and the average sales price and the houses sold in the last 12 months. Calculate the mean sales price for the neighborhood.

Compute the population variance of these data: 16, 18, 23, 21, 17, 16, 24, 23, 9, 17, 11, 16, 22, 10, 15, 14.

Quality control is an important issue at ACME Company, which manufactures light bulbs. To test the life-hours of their light bulbs, they randomly sampled nine light bulbs and measured how many hours they lasted: 378, 361, 350, 375, 200, 391, 375, 368, 321. What is the mean?

The population mean is the point estimate of the sample mean.

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

In a study of employee stock ownership plans, data were collected at seven companies on satisfaction with the plan and the amount of organization commitment. It can be shown that for these data = 4.66, = 4.99, = 2.23, = 1.95, ( − ) = 1.898. Calculate b₁.