Question 1

The daily closing values of the Dow Jones Industrial Average over a period of 30 days are best described as _____ data.

Accepted Answer

A) cross-sectional 
B) discrete 
C) time-series 
D) nominal 
A) cross-sectional 
B) discrete 
C) time-series 
D) nominal

Question 2

Using dummy variables is an efficient way of determining counts of categorical variables.

Accepted Answer

A) True 
 B)False

Question 3

Gender and states of residence are examples of ____ data.

Accepted Answer

A) discrete 
B) continuous 
C) categorical 
D) ordinal 
A) discrete 
B) continuous 
C) categorical 
D) ordinal

Question 4

The length of the box in the box plot portrays the

Accepted Answer

A) mean. 
B) median. 
C) range. 
D) interquartile range. 
A) mean. 
B) median. 
C) range. 
D) interquartile range.

Question 5

If the number of observations in a single-variable data set is even,the median is the

Accepted Answer

A) average of the two middle observations. 
B) difference between the two middle observations. 
C) most frequent observation. 
D) difference between the highest and smallest observation. 
A) average of the two middle observations. 
B) difference between the two middle observations. 
C) most frequent observation. 
D) difference between the highest and smallest observation.

Question 6

With symmetric,"bell-shaped" distributions,approximately what percent of the observations are within two standard deviations of the mean?

Accepted Answer

A) 50% 
B) 68% 
C) 95% 
D) 99.7% 
A) 50% 
B) 68% 
C) 95% 
D) 99.7%

Question 7

Because they represent such extreme values,outliers should always be eliminated from statistical analyses.

Accepted Answer

A) True 
 B)False

Question 8

Approximately,how large must a male's salary be to qualify as an outlier on the high side? How many outliers are there in these data?

Accepted Answer

A male's salary should be abov

Question 9

Are the empirical rules applicable in this case? If so,apply them and interpret your results.If not,explain why the empirical rules are not applicable here.

Accepted Answer

Considering that this distribution is on

Question 10

A distribution of a numerical variable with no skewness is said to be symmetric.

Accepted Answer

A) True 
 B)False

Question 11

Phone numbers,Social Security numbers,and zip codes are typically treated as numerical variables.

Accepted Answer

A) True 
 B)False

Question 12

A population includes all elements or objects of interest in a study,whereas a sample is a subset of the population used to gain insights into the characteristics of the population.

Accepted Answer

A) True 
 B)False

Question 13

A histogram is used to display categorical data.

Accepted Answer

A) True 
 B)False

Question 14

Where will you find "time" on a time series graph?

Accepted Answer

A) horizontal axis 
B) first column 
C) vertical axis 
D) last column 
A) horizontal axis 
B) first column 
C) vertical axis 
D) last column

Question 15

Researchers may try to gain insight into the characteristics of a population by examining a(n)_____ from the population.

Accepted Answer

A) model 
B) sample 
C) exemplar 
D) replica 
A) model 
B) sample 
C) exemplar 
D) replica

Question 16

Which statement is true for the following data values: 7,5,6,4,7,8,and 12?

Accepted Answer

A) The mean,median,and mode are all equal. 
B) Only the mean and median are equal. 
C) Only the mean and mode are equal. 
D) Only the median and mode are equal. 
A) The mean,median,and mode are all equal. 
B) Only the mean and median are equal. 
C) Only the mean and mode are equal. 
D) Only the median and mode are equal.

Question 17

The mean of a data set is 75 and one observation has the value of 65.What is the squared deviation of the observation,65,from the mean?

Accepted Answer

A) 100 
B) 20 
C) 400 
D) 10 
A) 100 
B) 20 
C) 400 
D) 10

Question 18

Suppose that a sample of 10 observations has a standard deviation of 3.Then the sum of the squared deviations from the sample mean is 30.

Accepted Answer

A) True 
 B)False

Question 19

Mean absolute deviation (MAD)is the average of the squared deviations.

Accepted Answer

A) True 
 B)False

Question 20

There are four quartiles that divide the values in a data set into four equal parts.

Accepted Answer

A) True 
 B)False

The daily closing values of the Dow Jones Industrial Average over a period of 30 days are best described as _____ data.

Using dummy variables is an efficient way of determining counts of categorical variables.

Gender and states of residence are examples of ____ data.

The length of the box in the box plot portrays the

If the number of observations in a single-variable data set is even,the median is the

With symmetric,"bell-shaped" distributions,approximately what percent of the observations are within two standard deviations of the mean?

Because they represent such extreme values,outliers should always be eliminated from statistical analyses.

Approximately,how large must a male's salary be to qualify as an outlier on the high side? How many outliers are there in these data?

Are the empirical rules applicable in this case? If so,apply them and interpret your results.If not,explain why the empirical rules are not applicable here.

A distribution of a numerical variable with no skewness is said to be symmetric.

Phone numbers,Social Security numbers,and zip codes are typically treated as numerical variables.

A population includes all elements or objects of interest in a study,whereas a sample is a subset of the population used to gain insights into the characteristics of the population.

A histogram is used to display categorical data.

Where will you find "time" on a time series graph?

Researchers may try to gain insight into the characteristics of a population by examining a(n)_____ from the population.

Which statement is true for the following data values: 7,5,6,4,7,8,and 12?

The mean of a data set is 75 and one observation has the value of 65.What is the squared deviation of the observation,65,from the mean?

Suppose that a sample of 10 observations has a standard deviation of 3.Then the sum of the squared deviations from the sample mean is 30.

Mean absolute deviation (MAD)is the average of the squared deviations.

There are four quartiles that divide the values in a data set into four equal parts.

Introduction to Business Analytics

Finding Relationships Among Variables

Business Intelligence Bifor Data Analysis

Probability and Probability Distributions

Decision Making Under Uncertainty

Sampling and Sampling Distributions

Confidence Interval Estimation

Hypothesis Testing

Regression Analysis: Estimating Relationships

Regression Analysis: Statistical Inference

Time Series Analysis and Forecasting

Introduction to Optimization Modeling

Optimization Models

Introduction to Simulation Modeling

Simulation Models

Data Mining

Analysis of Variance and Experimental Design

Statistical Process Control

Filters

Exam 2: Describing the Distribution of a Variable

The daily closing values of the Dow Jones Industrial Average over a period of 30 days are best described as _____ data.

Using dummy variables is an efficient way of determining counts of categorical variables.

Gender and states of residence are examples of ____ data.

The length of the box in the box plot portrays the

If the number of observations in a single-variable data set is even,the median is the

With symmetric,"bell-shaped" distributions,approximately what percent of the observations are within two standard deviations of the mean?

Because they represent such extreme values,outliers should always be eliminated from statistical analyses.

Approximately,how large must a male's salary be to qualify as an outlier on the high side? How many outliers are there in these data?

Are the empirical rules applicable in this case? If so,apply them and interpret your results.If not,explain why the empirical rules are not applicable here.

A distribution of a numerical variable with no skewness is said to be symmetric.

Phone numbers,Social Security numbers,and zip codes are typically treated as numerical variables.

A population includes all elements or objects of interest in a study,whereas a sample is a subset of the population used to gain insights into the characteristics of the population.

A histogram is used to display categorical data.

Where will you find "time" on a time series graph?

Researchers may try to gain insight into the characteristics of a population by examining a(n)_____ from the population.

Which statement is true for the following data values: 7,5,6,4,7,8,and 12?

The mean of a data set is 75 and one observation has the value of 65.What is the squared deviation of the observation,65,from the mean?

Suppose that a sample of 10 observations has a standard deviation of 3.Then the sum of the squared deviations from the sample mean is 30.

Mean absolute deviation (MAD)is the average of the squared deviations.

There are four quartiles that divide the values in a data set into four equal parts.

Introduction to Business Analytics

Finding Relationships Among Variables

Business Intelligence Bifor Data Analysis

Probability and Probability Distributions

Decision Making Under Uncertainty

Sampling and Sampling Distributions

Confidence Interval Estimation

Hypothesis Testing

Regression Analysis: Estimating Relationships

Regression Analysis: Statistical Inference

Time Series Analysis and Forecasting

Introduction to Optimization Modeling

Optimization Models

Introduction to Simulation Modeling

Simulation Models

Data Mining

Analysis of Variance and Experimental Design

Statistical Process Control

Filters