Question 1

Which of the following is true for a median?

Accepted Answer

A)  A median is only meaningful for interval or ordinal data and not for ratio data. 
B)  Medians can be calculated no matter how the data is arranged. 
C)  Medians are affected by outliers. 
D)  For an even number of observations, the median is the mean of the two middle numbers. 
A)  A median is only meaningful for interval or ordinal data and not for ratio data. 
B)  Medians can be calculated no matter how the data is arranged. 
C)  Medians are affected by outliers. 
D)  For an even number of observations, the median is the mean of the two middle numbers. D

Question 2

Which of the following formula is used to compute covariance between two variables X and Y?

Accepted Answer

A)  $ \operatorname{cov}(\mathrm{X}, \mathrm{Y})=\frac{\sum_{i=1}^{N}\left(x_{i}-\mu_{x}\right)\left(y_{i}-\mu_{y}\right)}{N} $ 
B)  $ \operatorname{cov}(\mathrm{X}, \mathrm{Y})=\frac{\sum_{i=1}^{N}\left(x_{i}-\mu_{x}\right)^{2}}{N} $ 
C) $ \operatorname{cov}(\mathrm{X}, \mathrm{Y})=\sum_{i=1}^{N} \frac{\left(x_{i}-\mu_{x}\right)^{2}}{y_{i}-\mu_{y}} $ 
D)  $ \operatorname{cov}(\mathrm{X}, \mathrm{Y})=\sqrt{\frac{\sum_{i=1}^{N}\left(x_{i}-\mu_{x}\right)^{2}}{N^{2}}} $ 
A)  $ \operatorname{cov}(\mathrm{X}, \mathrm{Y})=\frac{\sum_{i=1}^{N}\left(x_{i}-\mu_{x}\right)\left(y_{i}-\mu_{y}\right)}{N} $ 
B)  $ \operatorname{cov}(\mathrm{X}, \mathrm{Y})=\frac{\sum_{i=1}^{N}\left(x_{i}-\mu_{x}\right)^{2}}{N} $ 
C) $ \operatorname{cov}(\mathrm{X}, \mathrm{Y})=\sum_{i=1}^{N} \frac{\left(x_{i}-\mu_{x}\right)^{2}}{y_{i}-\mu_{y}} $ 
D)  $ \operatorname{cov}(\mathrm{X}, \mathrm{Y})=\sqrt{\frac{\sum_{i=1}^{N}\left(x_{i}-\mu_{x}\right)^{2}}{N^{2}}} $ A

Question 3

Compare and contrast methods of summarizing and describing data
Use the table below to answer the following question(s).
Below is a table showing the costs per order of items bought by a computer hardware store. $$\begin{array} { | l | l | l | } 
\hline \text { Supplier } & \text { Item Description } & \text { Cost per Order } \
\hline \text { Aloham Technologies } & \text { Monitors } & \$ 250 \
\hline \text { Aloham Technologies } & \text { Hard Disks } & \$ 220 \
\hline \text { Aloham Technologies } & \text { Power Supply } & \$ 88 \
\hline \text { Aloham Technologies } & \text { Graphics Card } & \$ 300 \
\hline \text { Aloham Technologies } & \text { Processor } & \$ 325 \
\hline \text { Aloham Technologies } & \text { Speakers } & \$ 88 \
\hline \text { MindRoot Hardwares } & \text { Flashdrive } & \$ 9 \
\hline \text { MindRoot Hardwares } & \text { Graphics Card } & \$ 299 \
\hline \text { MindRoot Hardwares } & \text { CD-ROM } & \$ 88 \
\hline \text { MindRoot Hardwares } & \text { Bluetooth Device } & \$ 80 \
\hline
\end{array}$$
-Calculate the median for the cost per order data.

Accepted Answer

A)  $325 
B)  $154 
C)  $174.17 
D)  $88 
A)  $325 
B)  $154 
C)  $174.17 
D)  $88 B

Question 4

Which of the following is the equation used for computing the sample correlation coefficient?

Accepted Answer

A)  $ r_{x y}=\operatorname{cov}(X, Y)\left(s_{x} S_{y}\right) $ 
B)  $ r_{x y}=\frac{\operatorname{cov}(X, Y)}{s_{x} s_{y}} $ 
C)  $ r x y=\frac{\left(x_{i}-\bar{x}\right)}{s_{x} s_{y}} $ 
D)  $ r_{x y}=\sqrt{\frac{\left(x_{i}-\bar{x}\right)}{s_{x-s_{y}}}} $ 
A)  $ r_{x y}=\operatorname{cov}(X, Y)\left(s_{x} S_{y}\right) $ 
B)  $ r_{x y}=\frac{\operatorname{cov}(X, Y)}{s_{x} s_{y}} $ 
C)  $ r x y=\frac{\left(x_{i}-\bar{x}\right)}{s_{x} s_{y}} $ 
D)  $ r_{x y}=\sqrt{\frac{\left(x_{i}-\bar{x}\right)}{s_{x-s_{y}}}} $

Question 5

is a measure of the linear relationship between two variables, X and Y, which does not depend on the units of measurement.

Accepted Answer

A)  Kurtosis 
B)  Proportion 
C)  Skewness 
D)  Correlation 
A)  Kurtosis 
B)  Proportion 
C)  Skewness 
D)  Correlation

Question 6

Compare and contrast methods of summarizing and describing data
Use the spreadsheet below to answer the following question(s).
Below is the table showing rate of shoes sold per day and the highest-priced shoe sold that day for a one-week period. The rate of shoes sold per day (X) and the price of the shoes (Y). $$\begin{array}{l}\begin{array} { | l | l | } 
\hline\text { Shoes sold }\
 \text { in \% (X) } & \text { Price (Y) } \
\hline 15 & \$ 48 \
\hline 27 & \$ 55 \
\hline 10 & \$ 40 \
\hline 13 & \$ 88 \
\hline 25 & \$ 53 \
\hline 9 & \$ 47 \
\hline 18 & \$ 40 \
\hline & \
\hline
\end{array}
\end{array}$$
-Use Excel to calculate the z-score of X observation 27.

Accepted Answer

A)  -0.24 
B)  0 
C)  0.18 
D)  1.46 
A)  -0.24 
B)  0 
C)  0.18 
D)  1.46

Question 7

Which of the following is an example of a measure of dispersion?

Accepted Answer

A)  median 
B)  mode 
C)  variance 
D)  midrange 
A)  median 
B)  mode 
C)  variance 
D)  midrange

Question 8

Calculate the coefficient of variation from the following data: z-score = 1.32; standard deviation = 0.173; mean = 4.7; total variation = 0.6

Accepted Answer

A)  27.16 
B)  156.66 
C)  0.04 
D)  -0.5 
A)  27.16 
B)  156.66 
C)  0.04 
D)  -0.5

Question 9

One of the properties of the mean is that the sum of the deviations of each observation from the mean is zero.

Accepted Answer

A) True 
 B)False

Question 10

states that for any set of data, the proportion of values that lie within k standard deviations (k > 1) of the mean is at least 1 - 1/k2.

Accepted Answer

A)  Prime number theorem 
B)  Bertrand's postulate 
C)  Oppermann's conjecture 
D)  Chebyshev's theorem 
A)  Prime number theorem 
B)  Bertrand's postulate 
C)  Oppermann's conjecture 
D)  Chebyshev's theorem

Question 11

According to statistical notations, what does Σ stand for?

Accepted Answer

A)  to act as a summation operator 
B)  to represent sample statistics 
C)  to represent population measures 
D)  to represent the number of items in a population 
A)  to act as a summation operator 
B)  to represent sample statistics 
C)  to represent population measures 
D)  to represent the number of items in a population

Question 12

Below is the data collected from a manufacturing process for a part whose dimensions are specified as 4.00 ± 0.1 centimeters. Calculate the process capability index within three standard deviations of the mean. $$\begin{array} { | l | } 
\hline \text { Manufacturing } \
\hline \text { Measurements } \
\hline 4.78 \
\hline 3.99 \
\hline 5.02 \
\hline 4.23 \
\hline 4.57 \
\hline 4.44 \
\hline 5.18 \
\hline
\end{array}$$

Accepted Answer

The process capability index, denoted as

Question 13

What are the different interpretations for correlation coefficient values?

Accepted Answer

A correlation of 0 indicates that the tw

Question 14

A correlation of 0 indicates that the two variables have no linear relationship with each other.

Accepted Answer

A) True 
 B)False

Question 15

The value of a coefficient of skewness falling between 0.5 and -0.5 indicates relative symmetry.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following describes dispersion in statistics?

Accepted Answer

A)  the degree of variation in the data 
B)  the central value in the data 
C)  the frequency of values in the data 
D)  the measure of outliers in the data 
A)  the degree of variation in the data 
B)  the central value in the data 
C)  the frequency of values in the data 
D)  the measure of outliers in the data

Question 17

Compare and contrast methods of summarizing and describing data
Use the spreadsheet below to answer the following question(s).
Below is the table showing rate of shoes sold per day and the highest-priced shoe sold that day for a one-week period. The rate of shoes sold per day (X) and the price of the shoes (Y). $$\begin{array}{l}\begin{array} { | l | l | } 
\hline\text { Shoes sold }\
 \text { in \% (X) } & \text { Price (Y) } \
\hline 15 & \$ 48 \
\hline 27 & \$ 55 \
\hline 10 & \$ 40 \
\hline 13 & \$ 88 \
\hline 25 & \$ 53 \
\hline 9 & \$ 47 \
\hline 18 & \$ 40 \
\hline & \
\hline
\end{array}
\end{array}$$
-Use Excel to calculate the mean for X.

Accepted Answer

A)  16.71 
B)  7.04 
C)  2.67 
D)  0.02 
A)  16.71 
B)  7.04 
C)  2.67 
D)  0.02

Question 18

Using Chebyshev's theorem for standard deviation, calculate the percentage of data that lie within five standard deviations of the mean.

Accepted Answer

A)  89% 
B)  75% 
C)  96% 
D)  50% 
A)  89% 
B)  75% 
C)  96% 
D)  50%

Question 19

The measure of location that specifies the middle value when the data are arranged from least to greatest is the .

Accepted Answer

A)  outlier 
B)  mean 
C)  median 
D)  mode 
A)  outlier 
B)  mean 
C)  median 
D)  mode

Question 20

The is the average of the greatest and least values in the data set.

Accepted Answer

A)  mean 
B)  median 
C)  midrange 
D)  mode 
A)  mean 
B)  median 
C)  midrange 
D)  mode

Which of the following is true for a median?

Which of the following formula is used to compute covariance between two variables X and Y?

Which of the following is the equation used for computing the sample correlation coefficient?

is a measure of the linear relationship between two variables, X and Y, which does not depend on the units of measurement.

Which of the following is an example of a measure of dispersion?

Calculate the coefficient of variation from the following data: z-score = 1.32; standard deviation = 0.173; mean = 4.7; total variation = 0.6

One of the properties of the mean is that the sum of the deviations of each observation from the mean is zero.

states that for any set of data, the proportion of values that lie within k standard deviations (k > 1) of the mean is at least 1 - 1/k².

According to statistical notations, what does Σ stand for?

Below is the data collected from a manufacturing process for a part whose dimensions are specified as 4.00 ± 0.1 centimeters. Calculate the process capability index within three standard deviations of the mean. Manufacturing Measurements 4.78 3.99 5.02 4.23 4.57 4.44 5.18

What are the different interpretations for correlation coefficient values?

A correlation of 0 indicates that the two variables have no linear relationship with each other.

The value of a coefficient of skewness falling between 0.5 and -0.5 indicates relative symmetry.

Which of the following describes dispersion in statistics?

Using Chebyshev's theorem for standard deviation, calculate the percentage of data that lie within five standard deviations of the mean.

The measure of location that specifies the middle value when the data are arranged from least to greatest is the .

The is the average of the greatest and least values in the data set.

Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Probability Distributions and Data Modeling

Sampling and Estimation

Statistical Inference

Trendlines and Regression Analysis

Forecasting Techniques

Introduction to Data Mining

Spreadsheet Modeling and Analysis

Monte Carlo Simulation and Risk Analysis

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Decision Analysis

Filters

Exam 4: Descriptive Statistical Measures

Which of the following is true for a median?

Which of the following formula is used to compute covariance between two variables X and Y?

Which of the following is the equation used for computing the sample correlation coefficient?

is a measure of the linear relationship between two variables, X and Y, which does not depend on the units of measurement.

Which of the following is an example of a measure of dispersion?

Calculate the coefficient of variation from the following data: z-score = 1.32; standard deviation = 0.173; mean = 4.7; total variation = 0.6

One of the properties of the mean is that the sum of the deviations of each observation from the mean is zero.

states that for any set of data, the proportion of values that lie within k standard deviations (k > 1) of the mean is at least 1 - 1/k2.

According to statistical notations, what does Σ stand for?

Below is the data collected from a manufacturing process for a part whose dimensions are specified as 4.00 ± 0.1 centimeters. Calculate the process capability index within three standard deviations of the mean. Manufacturing Measurements 4.78 3.99 5.02 4.23 4.57 4.44 5.18

What are the different interpretations for correlation coefficient values?

A correlation of 0 indicates that the two variables have no linear relationship with each other.

The value of a coefficient of skewness falling between 0.5 and -0.5 indicates relative symmetry.

Which of the following describes dispersion in statistics?

Using Chebyshev's theorem for standard deviation, calculate the percentage of data that lie within five standard deviations of the mean.

The measure of location that specifies the middle value when the data are arranged from least to greatest is the .

The is the average of the greatest and least values in the data set.

Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Probability Distributions and Data Modeling

Sampling and Estimation

Statistical Inference

Trendlines and Regression Analysis

Forecasting Techniques

Introduction to Data Mining

Spreadsheet Modeling and Analysis

Monte Carlo Simulation and Risk Analysis

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Decision Analysis

Filters

states that for any set of data, the proportion of values that lie within k standard deviations (k > 1) of the mean is at least 1 - 1/k².