Question 1

The geometric mean is the rate of change that yields better wealth at the end of a set of time periods than the actual returns.

Accepted Answer

A) True 
 B)False

Question 2

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002.   Determine the percentage change in the P/E ratios from 1999 to 2000.

Accepted Answer

A) 23.97% 
B) 31.53% 
C) 27.26% 
D) -31.53% 
E) -23.97 
A) 23.97% 
B) 31.53% 
C) 27.26% 
D) -31.53% 
E) -23.97

Question 3

A disadvantage of using grouping (a frequency table)with sample data is that:

Accepted Answer

A) Calculations involving central tendency and variation are more complicated than central tendency and variation calculations based on ungrouped data. 
B) The descriptive statistics are less precise than the descriptive statistics obtained using ungrouped data. 
C) The interpretation of the grouped data descriptive statistics is meaningless. 
D) It is much more difficult to summarize the information than it is with the ungrouped data. 
A) Calculations involving central tendency and variation are more complicated than central tendency and variation calculations based on ungrouped data. 
B) The descriptive statistics are less precise than the descriptive statistics obtained using ungrouped data. 
C) The interpretation of the grouped data descriptive statistics is meaningless. 
D) It is much more difficult to summarize the information than it is with the ungrouped data.

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 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 5

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002.   Determine the percentage change in the P/E ratios from 1998 to 1999.

Accepted Answer

A) 15.07% 
B) 17.74% 
C) 20.72% 
D) -17.74% 
E) -15.07% 
A) 15.07% 
B) 17.74% 
C) 20.72% 
D) -17.74% 
E) -15.07%

Question 6

The point estimate of the _______________ is the positive square root of the sample variance.

Accepted Answer

A) Sample mean 
B) Sample standard deviation 
C) Range 
D) Median 
E) Population standard deviation 
A) Sample mean 
B) Sample standard deviation 
C) Range 
D) Median 
E) Population standard deviation

Question 7

The ______________ is a quantity that measures the variation of a population or sample relative to its mean.

Accepted Answer

A) Mean 
B) Standard deviation 
C) Range 
D) Coefficient of variation 
E) Z-score 
A) Mean 
B) Standard deviation 
C) Range 
D) Coefficient of variation 
E) Z-score

Question 8

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 median?

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 9

If b0 = 32 and b1 = -4 and the predicted value of y is 14,what is the value of x?

Accepted Answer

A) -24.0 
B) 18.0 
C) 4.5 
D) 0.56 
A) -24.0 
B) 18.0 
C) 4.5 
D) 0.56

Question 10

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

Question 11

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 variance?

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 12

The average life of Canadian women is 73.75 years,and the standard deviation of the life expectancy of Canadian women is 6.5 years.Using Chebyshev's Theorem,determine the minimum percentage of women in Canada whose life expectancy is between 64 and 83.5 years.

Accepted Answer

A) 93.17% 
B) 68.26% 
C) 55.56% 
D) 88.89% 
E) 33.33% 
A) 93.17% 
B) 68.26% 
C) 55.56% 
D) 88.89% 
E) 33.33%

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 90th percentile?

Accepted Answer

A) $1,446.50 
B) $3,449.00 
C) $3,415.75 
D) $4,000.00 
E) $5,060.00 
A) $1,446.50 
B) $3,449.00 
C) $3,415.75 
D) $4,000.00 
E) $5,060.00

Question 14

In a symmetric population,the median equals the mode.

Accepted Answer

A) True 
 B)False

Question 15

The constant return used to forecast future wealth based on actual time periods and their returns is the ____________.

Accepted Answer

A) Grouped mean 
B) Geometric mean 
C) Weighted mean 
D) Arithmetic mean 
A) Grouped mean 
B) Geometric mean 
C) Weighted mean 
D) Arithmetic mean

Question 16

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 17

Suppose that annual sales for a company were $1,200,000 in 1999.The annual growth rate of sales from 1999 to 2000 was 16 percent,from 2000 to 2001 it was -5 percent,and from 2001 to 2002 it was 22 percent. The geometric mean growth rate of sales over this three-year period is calculated as 10.37 percent.Use the geometric mean growth rate and determine the forecasted sales for 2004.

Accepted Answer

A) 1,780,678 
B) 1,200,014 
C) 1,965,337 
D) 1,613,371 
E) 1,422,197 
A) 1,780,678 
B) 1,200,014 
C) 1,965,337 
D) 1,613,371 
E) 1,422,197

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

In a statistics class,10 scores were randomly selected with the following results (mean = 71.5): 74,73,77,77,71,68,65,77,67,66
What is the standard deviation?

Accepted Answer

A) 22.72 
B) 12.00 
C) 4.77 
D) 516.20 
E) 144.00 
A) 22.72 
B) 12.00 
C) 4.77 
D) 516.20 
E) 144.00

Question 20

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 mode?

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

The geometric mean is the rate of change that yields better wealth at the end of a set of time periods than the actual returns.

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002. Determine the percentage change in the P/E ratios from 1999 to 2000.

A disadvantage of using grouping (a frequency table)with sample data is that:

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002. Determine the percentage change in the P/E ratios from 1998 to 1999.

The point estimate of the _______________ is the positive square root of the sample variance.

The ______________ is a quantity that measures the variation of a population or sample relative to its mean.

If b₀ = 32 and b₁ = -4 and the predicted value of y is 14,what is the value of x?

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

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 variance?

The average life of Canadian women is 73.75 years,and the standard deviation of the life expectancy of Canadian women is 6.5 years.Using Chebyshev's Theorem,determine the minimum percentage of women in Canada whose life expectancy is between 64 and 83.5 years.

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 90^th percentile?

In a symmetric population,the median equals the mode.

The constant return used to forecast future wealth based on actual time periods and their returns is the ____________.

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.

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

In a statistics class,10 scores were randomly selected with the following results (mean = 71.5): 74,73,77,77,71,68,65,77,67,66 What is the standard deviation?

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 mode?

An Introduction to Business Statistics

Descriptive Statistics: Tabular and Graphical Methods

Probability

Discrete Random Variables

Continuous Random Variables

Sampling and 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

Process Improvement Using Control Charts

Filters

Exam 3: Descriptive Statistics: Numerical Methods

The geometric mean is the rate of change that yields better wealth at the end of a set of time periods than the actual returns.

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002. Determine the percentage change in the P/E ratios from 1999 to 2000.

A disadvantage of using grouping (a frequency table)with sample data is that:

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002. Determine the percentage change in the P/E ratios from 1998 to 1999.

The point estimate of the _______________ is the positive square root of the sample variance.

The ______________ is a quantity that measures the variation of a population or sample relative to its mean.

If b0 = 32 and b1 = -4 and the predicted value of y is 14,what is the value of x?

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

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 variance?

The average life of Canadian women is 73.75 years,and the standard deviation of the life expectancy of Canadian women is 6.5 years.Using Chebyshev's Theorem,determine the minimum percentage of women in Canada whose life expectancy is between 64 and 83.5 years.

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 90th percentile?

In a symmetric population,the median equals the mode.

The constant return used to forecast future wealth based on actual time periods and their returns is the ____________.

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.

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

In a statistics class,10 scores were randomly selected with the following results (mean = 71.5): 74,73,77,77,71,68,65,77,67,66 What is the standard deviation?

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 mode?

An Introduction to Business Statistics

Descriptive Statistics: Tabular and Graphical Methods

Probability

Discrete Random Variables

Continuous Random Variables

Sampling and 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

Process Improvement Using Control Charts

Filters

If b₀ = 32 and b₁ = -4 and the predicted value of y is 14,what is the value of x?