Exam 3: Numerical Descriptive Measures

$\text { TABLE 3-1 }$ Healthcare issues are receiving muchattentionin bothacademic and political arenas. A sociologistrecently conducted a survey of citizens over 60 years of age whose net worthis too high to qualify for Medicaid and have no private health insurance. The ages of 25 uninsured senior citizens were as follows: 60 61 62 63 64 65 66 68 68 69 70 73 73 74 75 76 76 81 81 82 86 87 89 90 92 -Referring to Table 3-1, identify which of the following is the correct statement.

The interquartile range is a measure of variation or dispersion in a set of data.

TABLE 3-5 The rate of return of a Fortune 500 company over the past 15 years are: 3.17%, 4.43%, 5.93%, 5.43%, 7.29%, 8.21%, 6.23%, 5.23%, 4.34%, 6.68%, 7.14%, -5.56%, -5.23%, -5.73%, -10.34% -Referring to Table 3-5, what is the shape of the distribution for the rate of return?

$\text { TABLE 3-10 }$ The time period from 2000 to 2003 saw a great deal of volatility in the value of stocks. The data in the following table represent the total rate of return of the Dow Jones Industrial Index, the Standard & Poor's 500, the Russell 2000 Index, and the Wilshire 5000 Index from 2000 to 2003. Year DJIA SP500 Russell2000 Wilshire5000 2003 25.30 26.40 45.40 29.40 2002 -15.01 -22.10 -21.58 -20.90 2001 -5.44 -11.90 -1.03 -10.97 2000 -6.20 -9.10 -3.02 -10.89 -Referring to Table 3-10, calculate the geometric mean rate of return for the Dow Jones Industrial Index.

Which measure of central tendency can be used for both numerical and categorical variables?

The median of the values 3.4, 4.7, 1.9, 7.6, and 6.5 is 4.05.

Which of the following statements about the median is not true?

According to the Chebyshev rule, at least what percentage of the observations in any data set are contained within a distance of 3 standard deviations around the mean?

Which of the following is the easiest to compute?

$\text { TABLE 3-3 }$ The stem-and-leaf display below represents the number of vitamin supplements sold by a health food store in a sample of 16 days. Stem Leaves 1H 99 2L 0023 2H 567 3L 034 3H 4L 1 Note (1): 1H means the "high teens" - 15, 16, 17, 18, or 19; 2L means the "low twenties" - 20, 21, 22, 23, or 24; 2H means the "high twenties" - 25, 26, 27, 28, or 29, etc. Note (2): For this sample, the sum of the observations is 448, the sum of the squares of the observations is 13,356, and the sum of the squared differences between each observation and the mean is 812. -Referring to Table 3-3, construct a boxplot for the data in this sample.

According to the Chebyshev rule, at least what percentage of the observations in any data set are contained within a distance of 2 standard deviations around the mean?

TABLE 3-1 Health care issues are receiving much attention in both academic and political arenas. A sociologist recently conducted a survey of citizens over 60 years of age whose net worth is too high to qualify for Medicaid and have no private health insurance. The ages of 25 uninsured senior citizens were as follows: 60 61 62 63 64 65 66 68 68 69 70 73 73 74 75 76 76 81 81 82 86 87 89 90 92 -Referring to Table 3-1, calculate the variance of the ages of the uninsured senior citizens correct to the nearest hundredth of a year squared.

TABLE 3-9 In the 2002- 2003 academic year, many public universities in the United States raised tuition and fees due to a decrease in state subsidies. The change in the cost of tuition, a shared dormitory room, and the most popular meal plan from the2001- 2002 academic year for a sample of 10 public universities were as follows: $1589, $593, $1223, $869, $423, $1720, $708, $1425, $922 and $308. -Referring to Table 3-9, the middle 50% of the change in the cost is spread over what value?

TABLE 3-6 The rate of return of an Internet Service Provider over a 10- year period are: 10.25%, 12.64%, 8.37%, 9.29%, 6.23%, 42.53%,29.23%, 15.25%, 21.52%, -2.35%. -Referring to Table 3-6, compute the arithmetic mean rate of return.

In right-skewed distributions, which of the following is the correct statement?

In right-skewed distributions, the distance from Q3 to the largest observation exceeds the distance from the smallest observation to Q1.

$\text { TABLE 3-6 }$ The rate of return of an Internet Service Provider over a 10- year period are: 10.25%, 12.64%, 8.37%, 9.29%, 6.23%, 42.53%, 29.23%, 15.25%, 21.52%, -2.35%. -Referring to Table 3-6, construct a boxplot for the rate of return

The 12-month rate of returns over a nine- year period of a particular stock is 0.099, - 0.289, 0.089, 0.226, 0.041, 0.161, 0.064, - 0.029 and 0.022. The geometric mean rate of return for this stock is ________.

TABLE 3-11 The following table represents the assets in billions of dollars of the five largest bond funds. $\begin{array}{l}\begin{array}{l}\hline \text { Bond Fund}& \text { Assets (Billions \$) }\\\hline \text { Vanguard GNMA }& 19.5 \\\text { Vanguard Total Bond Mkt. Index } &16.8 \\\text { Bond Fund of America A }& 13.7 \\\text { Franklin C alif. Tax-Free Inc. A }&12.8 \\\text { VanguardShort-T erm Corp. } &10.9 \\\hline\end{array}\end{array}$ -Referring to Table 3-11, what is the mean for this population of the five largest bond funds?

$\text { TABLE 3-2 }$ The data below represent the amount of grams of carbohydrates in a serving of breakfast cereal in a sample of 11 different servings. $11\quad15\quad23\quad29\quad19\quad22\quad21\quad20\quad15\quad25\quad17$ -Referring to Table 3-2, construct a boxplot for the carbohydrate amounts.