In its Industry Norms and Key Business Ratios, Dun & Bradstreet reported that Q1, Q2, and Q3 for 2,037 gasoline service stations' sales to inventory ratios were 20.8, 33.4, and 53.8, respectively.From this we can conclude that ____________.

A) 68% of these service stations had sales to inventory ratios of 20.8 or less B) 50% of these service stations had sales to inventory ratios of 33.4 or less C) 50% of these service stations had sales to inventory ratios of 53.8 or more D) 95% of these service stations had sales to inventory ratios of 33.4 or more E) 99% of these service stations had sales to inventory ratios of 53.8 or more A) 68% of these service stations had sales to inventory ratios of 20.8 or less B) 50% of these service stations had sales to inventory ratios of 33.4 or less C) 50% of these service stations had sales to inventory ratios of 53.8 or more D) 95% of these service stations had sales to inventory ratios of 33.4 or more E) 99% of these service stations had sales to inventory ratios of 53.8 or more

A company is reviewing the database of customer purchases over the past 3 years.Using descriptive statistics on this large data set, a business analyst found the following values. \[\begin{array} { | l | l | l | l | l | l | l | l | } \hline \text { Variable } & \text { Court } & \text { Mearl } & \text { MinirmurI } & \text { Ql } & \text { Mediar } & \text { Q3 } & \text { Maxirnuri } \\ \hline \text { Purdhases } & 56,472 & 105.21 & 10.24 & 31.09 & 74.88 & 117.23 & 201.40 \\ \hline \end{array}\] From this we can conclude that,

A) 68% of these purchases are between $105.24 and $74.88 B) The distribution of these purchases is negatively skewed C) 50% of these purchases are between $31.04 and $117.23 D) 50% of these purchases are less than $105.24 E) The distribution of these purchases is not skewed A) 68% of these purchases are between $105.24 and $74.88 B) The distribution of these purchases is negatively skewed C) 50% of these purchases are between $31.04 and $117.23 D) 50% of these purchases are less than $105.24 E) The distribution of these purchases is not skewed

Exam 3: Descriptive Statistics

David Desreumaux, VP of Human Resources of American First Banks (AFB), is reviewing the employee training programs of AFB.His staff report several statistics for teller training hours.The mean is 20 hours, the standard deviation is 5 hours, the median is 15 hours, and mode is 10 hours.The Pearsonian coefficient of skewness-or Pearson's second skewness coefficient, defined as (3 × (μ - median)/σ)-for teller training hours is __________.

(Multiple Choice)

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Question 41

Skewness and kurtosis of a data set are measures of the shape of the distribution.

(True/False)

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Question 42

If stock A has a coefficient of variation of 30% and stock B has a coefficient of variation of 35%.Based on this measure of risk, which stock would be considered riskier?

(Multiple Choice)

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Question 43

The most appropriate measure of central tendency for nominal-level data is the median.

(True/False)

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Question 44

If a data set is negatively skewed, which calculations cannot be used?

(Multiple Choice)

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Question 45

Your company is testing a new auto engine in a race car.The race car is on a 2-mile track.If the first lap was exactly at 2 minutes, so that the average speed for the first lap was 1.00 mile per minute, what would be the time required for the second lap so that the overall average speed will be 4 miles per minute?

(Multiple Choice)

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Question 46

The mean life of a particular brand of light bulb is 1200 hours.If you know that at about 95% of this brand of bulbs will last between 1100 and 1300 hours, then what is the standard deviation of the light bulbs' life?

(Multiple Choice)

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Question 47

A nonzero value of the skewness indicates asymmetry of the distribution of the data.

(True/False)

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Question 48

A histogram can be used in business analytics to determine if a variable is approximately normally distributed.

(True/False)

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Question 49

The following box and whisker plot was constructed for the age of accounts receivable. The box and whisker plot reveals that the accounts receivable ages are _______.

(Multiple Choice)

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Question 50

From a large data set, a variable would be considered positively skewed if the descriptive statistics showed the median to be less than the mean.

(True/False)

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Question 51

In its Industry Norms and Key Business Ratios, Dun & Bradstreet reported that Q₁, Q₂, and Q₃ for 2,037 gasoline service stations' sales to inventory ratios were 20.8, 33.4, and 53.8, respectively.From this we can conclude that ____________.

(Multiple Choice)

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Question 52

Pearson's second skewness coefficient is defined as (3 × (μ - median)/σ).You are examining financial statistics for the rate of return of a financial product your company sells and find out that the standard deviation is 0.5 and the Pearson coefficient of skewness is 1.5.Suppose that by the end of this year, you receive the updated statistics and find out that the mean increased by 0.2 and the median and standard deviation stayed unchanged.What would be the updated value of Pearson's second skewness coefficient?

(Multiple Choice)

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Question 53

The number of standard deviations that a value (x)is above or below the mean is the _________________.

(Multiple Choice)

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Question 54

A company is reviewing the database of customer purchases over the past 3 years.Using descriptive statistics on this large data set, a business analyst found the following values. Variable Court Mearl MinirmurI Ql Mediar Q3 Maxirnuri Purdhases 56,472 105.21 10.24 31.09 74.88 117.23 201.40 From this we can conclude that,

(Multiple Choice)

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Question 55

After obtaining a large data set, a business analyst will first want to determine _________.

(Multiple Choice)

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Question 56

A business analyst is considering a data set reflecting the number of products purchased at one time, there is a minimum of 45 and a maximum of 61.Given that the data set the number of products purchased for 5,791 purchases, the range would be ________.

(Multiple Choice)

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Question 57

The empirical rule says that approximately what percentage of the values would be within 2 standard deviations of the mean in a bell shaped set of data?

(Multiple Choice)

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Question 58

Average deviation is a common measure of the variability of data containing a set of numbers.

(True/False)

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Question 59

A commuter travels many miles to work each morning.She has timed this trip 5 times during the last month.The time (in minutes)required to make this trip was 38, 33, 36, 47, and 41.What is the variance for these sample data?

(Multiple Choice)

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Question 60

Showing 41 - 60 of 88

Skewness and kurtosis of a data set are measures of the shape of the distribution.

If stock A has a coefficient of variation of 30% and stock B has a coefficient of variation of 35%.Based on this measure of risk, which stock would be considered riskier?

The most appropriate measure of central tendency for nominal-level data is the median.

If a data set is negatively skewed, which calculations cannot be used?

The mean life of a particular brand of light bulb is 1200 hours.If you know that at about 95% of this brand of bulbs will last between 1100 and 1300 hours, then what is the standard deviation of the light bulbs' life?

A nonzero value of the skewness indicates asymmetry of the distribution of the data.

A histogram can be used in business analytics to determine if a variable is approximately normally distributed.

The following box and whisker plot was constructed for the age of accounts receivable. The box and whisker plot reveals that the accounts receivable ages are _______.

From a large data set, a variable would be considered positively skewed if the descriptive statistics showed the median to be less than the mean.

In its Industry Norms and Key Business Ratios, Dun & Bradstreet reported that Q₁, Q₂, and Q₃ for 2,037 gasoline service stations' sales to inventory ratios were 20.8, 33.4, and 53.8, respectively.From this we can conclude that ____________.

The number of standard deviations that a value (x)is above or below the mean is the _________________.

After obtaining a large data set, a business analyst will first want to determine _________.

A business analyst is considering a data set reflecting the number of products purchased at one time, there is a minimum of 45 and a maximum of 61.Given that the data set the number of products purchased for 5,791 purchases, the range would be ________.

The empirical rule says that approximately what percentage of the values would be within 2 standard deviations of the mean in a bell shaped set of data?

Average deviation is a common measure of the variability of data containing a set of numbers.

A commuter travels many miles to work each morning.She has timed this trip 5 times during the last month.The time (in minutes)required to make this trip was 38, 33, 36, 47, and 41.What is the variance for these sample data?

Introduction to Statistics and Business Analytics

Visualizing Data With Charts and Graphs

Probability

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Simple Regression Analysis and Correlation

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

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