Question 1

​In computing descriptive statistics for grouped data, the data values in each class are approximated using the

Accepted Answer

A)  ​class lower limits. 
B)  ​class upper limits. 
C)  ​class midpoint. 
D)  ​class range. 
A)  ​class lower limits. 
B)  ​class upper limits. 
C)  ​class midpoint. 
D)  ​class range. C

Question 2

The closing stock price of MNM Corporation for the last 7 trading days is shown below.   ​ The median is

Accepted Answer

A)  24. 
B)  25. 
C)  26. 
D)  27. 
A)  24. 
B)  25. 
C)  26. 
D)  27. D

Question 3

Which of the following provides a measure of central tendency for the data?

Accepted Answer

A)  Standard deviation 
B)  Mean 
C)  Variance 
D)  Range 
A)  Standard deviation 
B)  Mean 
C)  Variance 
D)  Range B

Question 4

The interquartile range is

Accepted Answer

A)  the 50th percentile. 
B)  another name for the standard deviation. 
C)  the difference between the largest and smallest values. 
D)  the difference between the third quartile and the first quartile. 
A)  the 50th percentile. 
B)  another name for the standard deviation. 
C)  the difference between the largest and smallest values. 
D)  the difference between the third quartile and the first quartile.

Question 5

In 2012, the average donation to the Help Way was $225 with a standard deviation of $45. In 2013, the average donation was $400 with a standard deviation of $60. In which year did the donations show a more dispersed distribution?

Accepted Answer

The coefficient of variation i

Question 6

The median of a sample will always equal the

Accepted Answer

A)  (Q1 + Q3)/2. 
B)  square root of the variance. 
C)  50th percentile. 
D)  (smallest value + largest value)/2. 
A)  (Q1 + Q3)/2. 
B)  square root of the variance. 
C)  50th percentile. 
D)  (smallest value + largest value)/2.

Question 7

​From a population of size 1,000, a random sample of 100 items is selected. The mean of the sample

Accepted Answer

A)  ​must be 10 times smaller than the mean of the population. 
B)  ​must be equal to the mean of the population, if the sample is truly random. 
C)  ​must be 10 times larger than the mean of the population. 
D)  ​can be larger, smaller or equal to the mean of the population. 
A)  ​must be 10 times smaller than the mean of the population. 
B)  ​must be equal to the mean of the population, if the sample is truly random. 
C)  ​must be 10 times larger than the mean of the population. 
D)  ​can be larger, smaller or equal to the mean of the population.

Question 8

​Statements about the proportion of data values that must be within a specified number of standard deviations of the mean can be made using

Accepted Answer

A)  ​Chebyshev's theorem. 
B)  The empirical rule. 
C)  ​A five-number summary. 
D)  Percentiles. 
A)  ​Chebyshev's theorem. 
B)  The empirical rule. 
C)  ​A five-number summary. 
D)  Percentiles.

Question 9

Consider a sample with the following data values.
​   ​
Compute the Z scores for the above five observations.

Accepted Answer

The answer of Consider a sample with the following data...

Question 10

Which of the following symbols represents the variance of the population?

Accepted Answer

A)  σ2 
B)  σ 
C)  μ 
D)    
A)  σ2 
B)  σ 
C)  μ 
D)

Question 11

Which of the following is not a measure of variability?

Accepted Answer

A)  The range 
B)  The midrange 
C)  The standard deviation 
D)  The interquartile range 
A)  The range 
B)  The midrange 
C)  The standard deviation 
D)  The interquartile range

Question 12

​The hourly wages of a sample of 130 system analysts are given below. ​   ​
The coefficient of variation equals
​

Accepted Answer

A)  ​0.30%. 
B)  ​30%. 
C)  ​5.4%. 
D)  ​54%. 
A)  ​0.30%. 
B)  ​30%. 
C)  ​5.4%. 
D)  ​54%.

Question 13

The coefficient of variation indicates how large the standard deviation is relative to the​

Accepted Answer

A)  ​mean. 
B)  ​median. 
C)  ​range. 
D)  ​variance. 
A)  ​mean. 
B)  ​median. 
C)  ​range. 
D)  ​variance.

Question 14

​In a box plot, data value x is considered an outlier if

Accepted Answer

A)  ​x  Q3 + 1.0(IQR). 
B)  ​x  Q2 + 1.0(IQR). 
C)  ​x  Q3 + 1.5(IQR). 
D)  ​x  Q2 + 1.5(IQR). 
A)  ​x  Q3 + 1.0(IQR). 
B)  ​x  Q2 + 1.0(IQR). 
C)  ​x  Q3 + 1.5(IQR). 
D)  ​x  Q2 + 1.5(IQR).

Question 15

The numerical value of the standard deviation can never be

Accepted Answer

A)  larger than the variance. 
B)  zero. 
C)  negative. 
D)  smaller than the variance. 
A)  larger than the variance. 
B)  zero. 
C)  negative. 
D)  smaller than the variance.

Question 16

A numerical value used as a summary measure for a sample is known as a sample

Accepted Answer

A)  error. 
B)  parameter. 
C)  statistic. 
D)  value. 
A)  error. 
B)  parameter. 
C)  statistic. 
D)  value.

Question 17

​Which of the following statements about financial growth factors using the geometric mean is untrue?

Accepted Answer

A)  ​The growth factor cannot be less than zero. 
B)  ​A growth factor less than 1 indicates negative growth. 
C)  ​A growth factor greater than 2 indicates more than 100 percent growth. 
D)  ​A growth factor greater than 0 indicates positive growth. 
A)  ​The growth factor cannot be less than zero. 
B)  ​A growth factor less than 1 indicates negative growth. 
C)  ​A growth factor greater than 2 indicates more than 100 percent growth. 
D)  ​A growth factor greater than 0 indicates positive growth.

Question 18

The price of a selected stock over a five day period is shown below.
​
47, 45, 43, 47, 46
​
Using the above data, compute the mean, the median, and the mode.

Accepted Answer

Mean = 45.

Question 19

The coefficient of correlation

Accepted Answer

A)  is the same as the coefficient of determination. 
B)  cannot be larger than 100. 
C)  cannot be larger than 1. 
D)  cannot be negative. 
A)  is the same as the coefficient of determination. 
B)  cannot be larger than 100. 
C)  cannot be larger than 1. 
D)  cannot be negative.

Question 20

The average wage of Tennessee cashiers is $14 per hour with a standard deviation of $4.20. In Georgia, the average wage of cashiers is $16 with a standard deviation of $4.40. In which state do the wages of cashiers appear to be more dispersed?

Accepted Answer

The coefficient of variation i

Exam 3: Descriptive Statistics: Numerical Measures

​In computing descriptive statistics for grouped data, the data values in each class are approximated using the

The closing stock price of MNM Corporation for the last 7 trading days is shown below. ​ The median is

Which of the following provides a measure of central tendency for the data?

The interquartile range is

In 2012, the average donation to the Help Way was $225 with a standard deviation of $45. In 2013, the average donation was $400 with a standard deviation of $60. In which year did the donations show a more dispersed distribution?

The median of a sample will always equal the

​From a population of size 1,000, a random sample of 100 items is selected. The mean of the sample

​Statements about the proportion of data values that must be within a specified number of standard deviations of the mean can be made using

Consider a sample with the following data values. ​ ​ Compute the Z scores for the above five observations.

Which of the following symbols represents the variance of the population?

Which of the following is not a measure of variability?

​The hourly wages of a sample of 130 system analysts are given below. ​ ​ The coefficient of variation equals ​

The coefficient of variation indicates how large the standard deviation is relative to the​

​In a box plot, data value x is considered an outlier if

The numerical value of the standard deviation can never be

A numerical value used as a summary measure for a sample is known as a sample

​Which of the following statements about financial growth factors using the geometric mean is untrue?

The price of a selected stock over a five day period is shown below. ​ 47, 45, 43, 47, 46 ​ Using the above data, compute the mean, the median, and the mode.

The coefficient of correlation

The average wage of Tennessee cashiers is $14 per hour with a standard deviation of $4.20. In Georgia, the average wage of cashiers is $16 with a standard deviation of $4.40. In which state do the wages of cashiers appear to be more dispersed?

Data and Statistics

Descriptive Statistics: Tabular and Graphical Displays

Introduction to Probability

Discrete Probability Distributions

Continuous Probability Distributions

Sampling and Sampling Distributions

Interval Estimation

Hypothesis Tests

Inference About Means and Proportions With Two Populations

Inferences About Population Variances

Comparing Multiple Proportions, Tests of Independence and Goodness of Fit

Experimental Design and Analysis of Variance

Simple Linear Regression

Multiple Regression

Regression Analysis: Model Building

Time Series Analysis and Forecasting

Nonparametric Methods

Decision Analysis

Index Numbers

Statistical Methods for Quality Control

Sample Survey

Filters

In computing descriptive statistics for grouped data, the data values in each class are approximated using the

The closing stock price of MNM Corporation for the last 7 trading days is shown below. The median is

From a population of size 1,000, a random sample of 100 items is selected. The mean of the sample

Statements about the proportion of data values that must be within a specified number of standard deviations of the mean can be made using

Consider a sample with the following data values. Compute the Z scores for the above five observations.

The hourly wages of a sample of 130 system analysts are given below. The coefficient of variation equals

The coefficient of variation indicates how large the standard deviation is relative to the

In a box plot, data value x is considered an outlier if

Which of the following statements about financial growth factors using the geometric mean is untrue?

The price of a selected stock over a five day period is shown below. 47, 45, 43, 47, 46 Using the above data, compute the mean, the median, and the mode.