Question 1

Generate a box plot to summarize the data. What does the box plot indicate?

Accepted Answer

@#IMG-DLM& The box plot shows

Question 2

A data set is typically a rectangular array of data, with observations in columns and variables in rows.

Accepted Answer

A) True 
 B)False

Question 3

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 4

The difference between the largest and smallest values in a data set is called the range.

Accepted Answer

A) True 
 B)False

Question 5

In a generic box plot, the vertical line inside the box indicates the location of the:

Accepted Answer

A)  mean 
B)  median 
C)  mode 
D)  minimum value 
E)  maximum value 
A)  mean 
B)  median 
C)  mode 
D)  minimum value 
E)  maximum value

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% 
E)  100% 
A)  50% 
B)  68% 
C)  95% 
D)  99.7% 
E)  100%

Question 7

How many job applicants scored above 50?

Accepted Answer

The answer of How many job applicants scored above 50?...

Question 8

Indicate the type of data for each of the six variables included in this set.

Accepted Answer

Gender - categorical, nominal
Age - nume

Question 9

A variable (or field or attribute) is a characteristic of members of a population, whereas an observation (or case or record) is a list of all variable values for a single member of a population.

Accepted Answer

A) True 
 B)False

Question 10

A sample of 8 observations with a standard deviation of 2.50 has a sum of the squared deviations from the sample mean equal to 17.50.

Accepted Answer

A) True 
 B)False

Question 11

The data below represents monthly sales for two years of beanbag animals at a local retail store (Month 1 represents January and Month 12 represents December). Given the time series plot below, do you see any obvious patterns in the data? Explain.

Accepted Answer

This is a representation of seasonal dat

Question 12

If the mean is 75 and two observations have values of 65 and 85, what is the squared deviation of each?

Accepted Answer

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

Question 13

The average score for a class of 30 students was 75. The 20 male students in the class averaged 70. The 10 female students in the class averaged:

Accepted Answer

A)  the same as the males 
B)  higher than the males 
C)  significantly lower than the males 
D)  little lower than the males 
A)  the same as the males 
B)  higher than the males 
C)  significantly lower than the males 
D)  little lower than the males

Question 14

A histogram is based on binning the variable, which means putting the variable into discrete categories.

Accepted Answer

A) True 
 B)False

Question 15

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 16

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

Accepted Answer

A) True 
 B)False

Question 17

Based on the histogram shown below, how would you describe the salary distribution for these data?

Accepted Answer

The salary distribution is skewed to the

Question 18

What are the three most common measures of central tendency?

Accepted Answer

A)  mean, median, and mode 
B)  mean, variance, and standard deviation 
C)  mean, median, and variance 
D)  mean, median, and standard deviation 
E)  first quartile, second quartile, and third quartile 
A)  mean, median, and mode 
B)  mean, variance, and standard deviation 
C)  mean, median, and variance 
D)  mean, median, and standard deviation 
E)  first quartile, second quartile, and third quartile

Question 19

Explain why the mean is slightly lower than the median in this case.

Accepted Answer

The data is slightly skewed to the left.

Question 20

If a value represents the 95th percentile, this means that:

Accepted Answer

A)  95% of all values are below this value 
B)  95% of all values are above this value 
C)  95% of the time you will observe this value 
D)  there is a 5% chance that this value is incorrect 
E)  there is a 95% chance that this value is correct 
A)  95% of all values are below this value 
B)  95% of all values are above this value 
C)  95% of the time you will observe this value 
D)  there is a 5% chance that this value is incorrect 
E)  there is a 95% chance that this value is correct

Generate a box plot to summarize the data. What does the box plot indicate?

A data set is typically a rectangular array of data, with observations in columns and variables in rows.

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

The difference between the largest and smallest values in a data set is called the range.

In a generic box plot, the vertical line inside the box indicates the location of the:

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

How many job applicants scored above 50?

Indicate the type of data for each of the six variables included in this set.

A variable (or field or attribute) is a characteristic of members of a population, whereas an observation (or case or record) is a list of all variable values for a single member of a population.

A sample of 8 observations with a standard deviation of 2.50 has a sum of the squared deviations from the sample mean equal to 17.50.

The data below represents monthly sales for two years of beanbag animals at a local retail store (Month 1 represents January and Month 12 represents December). Given the time series plot below, do you see any obvious patterns in the data? Explain.

If the mean is 75 and two observations have values of 65 and 85, what is the squared deviation of each?

The average score for a class of 30 students was 75. The 20 male students in the class averaged 70. The 10 female students in the class averaged:

A histogram is based on binning the variable, which means putting the variable into discrete categories.

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

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

Based on the histogram shown below, how would you describe the salary distribution for these data?

What are the three most common measures of central tendency?

Explain why the mean is slightly lower than the median in this case.

If a value represents the 95^th percentile, this means that:

Introduction to Business Analytics

Finding Relationships Among Variables

Probability and Probability Distributions

Normal, Binomial, Poisson, and Exponential 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

Importing Data Into Excel

Analysis of Variance and Experimental Design

Statistical Process Control

Filters

Exam 2: Describing the Distribution of a Single Variable

Generate a box plot to summarize the data. What does the box plot indicate?

A data set is typically a rectangular array of data, with observations in columns and variables in rows.

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

The difference between the largest and smallest values in a data set is called the range.

In a generic box plot, the vertical line inside the box indicates the location of the:

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

How many job applicants scored above 50?

Indicate the type of data for each of the six variables included in this set.

A variable (or field or attribute) is a characteristic of members of a population, whereas an observation (or case or record) is a list of all variable values for a single member of a population.

A sample of 8 observations with a standard deviation of 2.50 has a sum of the squared deviations from the sample mean equal to 17.50.

The data below represents monthly sales for two years of beanbag animals at a local retail store (Month 1 represents January and Month 12 represents December). Given the time series plot below, do you see any obvious patterns in the data? Explain.

If the mean is 75 and two observations have values of 65 and 85, what is the squared deviation of each?

The average score for a class of 30 students was 75. The 20 male students in the class averaged 70. The 10 female students in the class averaged:

A histogram is based on binning the variable, which means putting the variable into discrete categories.

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

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

Based on the histogram shown below, how would you describe the salary distribution for these data?

What are the three most common measures of central tendency?

Explain why the mean is slightly lower than the median in this case.

If a value represents the 95th percentile, this means that:

Introduction to Business Analytics

Finding Relationships Among Variables

Probability and Probability Distributions

Normal, Binomial, Poisson, and Exponential 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

Importing Data Into Excel

Analysis of Variance and Experimental Design

Statistical Process Control

Filters

If a value represents the 95^th percentile, this means that: