Analyze data of quantitative variables. -The following table shows total assets ($ billion) for a small sample of U.S. banks. The mean for these data is \[\begin{array} { | l | l | } \hline { \text { BANK } } & \text { ASSETS (\$ billion) } \\ \hline \text { Bank of New York } & 88 \\ \hline \text { Regions Financial } & 80 \\ \hline \text { Fifth Third Bank } & 58 \\ \hline \text { State Street Bank and Trust } & 92 \\ \hline \text { Branch Banking and Trust Company } & 81 \\ \hline \text { Chase Bank } & 70 \\ \hline \text { Key Bank } & 89 \\ \hline \text { PNC Bank } & 84 \\ \hline \end{array}\]

A) $ 80.25 billion. B) $ 100.35 billion. C) $ 75.68 billion. D) $ 84 billion. E) $ 89 billion. A) $ 80.25 billion. B) $ 100.35 billion. C) $ 75.68 billion. D) $ 84 billion. E) $ 89 billion. A

Compare results using standardization. -The following table shows total assets ($ billion) for a small sample of U.S. banks. The z- score for the total assets of Fifth Third Bank is \[\begin{array} { | l | l | } \hline { \text { BANK } } & \text { ASSETS (\$ billion) } \\ \hline \text { Bank of New York } & 88 \\ \hline \text { Regions Financial } & 80 \\ \hline \text { Fifth Third Bank } & 58 \\ \hline \text { State Street Bank and Trust } & 92 \\ \hline \text { Branch Banking and Trust Company } & 81 \\ \hline \text { Chase Bank } & 70 \\ \hline \text { Key Bank } & 89 \\ \hline \text { PNC Bank } & 84 \\ \hline \end{array}\]

A) 1.25. B) -1.25. C) -2.5. D) 1.97. E) -1.97. A) 1.25. B) -1.25. C) -2.5. D) 1.97. E) -1.97.

Analyze data of quantitative variables. -The following table shows closing share prices for a small sample of companies. The Standard deviation in closing share prices is \[\begin{array} { | l | c | } \hline \text { COMPANY } & \text { CLOSING SHARE PRICE - 08/07 } \\ \hline \text { 3M Dental Products } & 86.95 \\ \hline \text { Tyco Electronics Power Systems } & 47.45 \\ \hline \text { Kyocera America Inc. } & 94.10 \\ \hline \text { Pfizer Inc. } & 22.39 \\ \hline \text { Xerox Company } & 17.56 \\ \hline \text { Northrop Grumman Corporation } & 75.81 \\ \hline \text { Lockheed Martin Maritime Systems } & 100.17 \\ \hline \text { Sony DADC } & 51.91 \\ \hline \text { Matsushita Electronic Components } & 17.91 \\ \hline \text { Foster Wheeler Environmental Corp. } & 55.67 \\ \hline \end{array}\]

A) $31.43. B) $44.65. C) $56.99. D) $62.19. E) $75.77. A) $31.43. B) $44.65. C) $56.99. D) $62.19. E) $75.77.

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of sales Managers. The IQR for these data is \[\begin{array} { | c | c | c | c | c | } \hline \text { Min } & \text { Q1 } & \text { Median } & \text { Q3 } & \text { Max } \\ \hline 20.94 & 37.64 & 44.77 & 49.34 & 67.11 \\ \hline \end{array}\]

A) $11.70 B) $46.17 C) $67.11 D) $20.94 E) $44.77 A) $11.70 B) $46.17 C) $67.11 D) $20.94 E) $44.77

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of sales Managers. The range for these data is \[\begin{array} { | c | c | c | c | c | } \hline \text { Min } & \text { Q1 } & \text { Median } & \text { Q3 } & \text { Max } \\ \hline 20.94 & 37.64 & 44.77 & 49.34 & 67.11 \\ \hline \end{array}\]

A) $11.70 B) $46.17 C) $67.11 D) $20.94 E) $44.77 A) $11.70 B) $46.17 C) $67.11 D) $20.94 E) $44.77

Analyze data of quantitative variables. -The following table shows total assets ($ billion) for a small sample of U.S. banks. The standard deviation for these data is \[\begin{array} { | l | l | } \hline { \text { BANK } } & \text { ASSETS (\$ billion) } \\ \hline \text { Bank of New York } & 88 \\ \hline \text { Regions Financial } & 80 \\ \hline \text { Fifth Third Bank } & 58 \\ \hline \text { State Street Bank and Trust } & 92 \\ \hline \text { Branch Banking and Trust Company } & 81 \\ \hline \text { Chase Bank } & 70 \\ \hline \text { Key Bank } & 89 \\ \hline \text { PNC Bank } & 84 \\ \hline \end{array}\]

A) $12.78 billion. B) $ 11.27 billion. C) $ 127.01 billion. D) $ 21.67 billion. E) $ 34 billion. A) $12.78 billion. B) $ 11.27 billion. C) $ 127.01 billion. D) $ 21.67 billion. E) $ 34 billion.

Interpret summary statistics. -Based on the five number summary (shown below) for salaries of U.S. marketing Managers, the IQR is \[\begin{array} { | c | c | c | c | c | } \hline \text { Min } & \text { Q1 } & \text { Median } & \text { Q3 } & \text { Max } \\ \hline 46360 & 69693 & 77020 & 91750 & 129420 \\ \hline \end{array}\]

A) $83,060. B) $22.057. C) $69,693. D) $77.020. E) $14,566. A) $83,060. B) $22.057. C) $69,693. D) $77.020. E) $14,566.

Exam 5: Displaying and Describing Quantitative Data

Analyze data of quantitative variables. -The following table shows total assets ($ billion) for a small sample of U.S. banks. The mean for these data is BANK ASSETS (\ billion) Bank of New York 88 Regions Financial 80 Fifth Third Bank 58 State Street Bank and Trust 92 Branch Banking and Trust Company 81 Chase Bank 70 Key Bank 89 PNC Bank 84

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(Multiple Choice)

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Question 1

Correct Answer:

Verified

A

Following is the five number summary of the hourly wages ($) for advertising / promotion managers displayed in question 1. Min Q1 Median Q3 Max 19.64 29.36 34.18 40.86 57.26 a. Would you expect the mean salary for this sample of marketing managers to be higher or lower than the median? Explain. b. Which would be a more appropriate measure of central tendency for these data, the mean or median? Explain. c. Calculate the range. d. Calculate the IQR.

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(Short Answer)

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Question 2

Correct Answer:

Verified

50

Analyze scatterplots and correlation coefficients. -Suppose the marketing manager who was earning $129,420 got a raise and is now earning $140,000. Indicate how this change would affect the following summary statistics (increase, decrease, or stay about the same): a. Mean b. Median c. Range d. IQR e. Standard deviation

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Question 3

Correct Answer:

Verified

Increase.
Stay the same.
Increase.
Stay the same.
Increase.

Compare results using standardization. -The following table shows total assets ($ billion) for a small sample of U.S. banks. The z- score for the total assets of Fifth Third Bank is BANK ASSETS (\ billion) Bank of New York 88 Regions Financial 80 Fifth Third Bank 58 State Street Bank and Trust 92 Branch Banking and Trust Company 81 Chase Bank 70 Key Bank 89 PNC Bank 84

(Multiple Choice)

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Question 4

Compare results using standardization. -The ASQ (American Society for Quality) regularly conducts a salary survey of its Membership, primarily quality management professionals. Based on the most recently Published mean and standard deviation, a quality control specialist calculated the z-score Associated with his own salary and found it was -2.50. This tells him that his salary is

(Multiple Choice)

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Question 5

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of advertising / Promotion managers. Suppose there had been an error and that the lowest hourly wage Was $15.50 instead of $19.64. This would result in Min Q1 Median Q3 Max 19.64 29.36 34.18 40.86 57.26

(Multiple Choice)

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Question 6

Analyze data of quantitative variables. -The following table shows closing share prices for a small sample of companies. The Standard deviation in closing share prices is COMPANY CLOSING SHARE PRICE - 08/07 3M Dental Products 86.95 Tyco Electronics Power Systems 47.45 Kyocera America Inc. 94.10 Pfizer Inc. 22.39 Xerox Company 17.56 Northrop Grumman Corporation 75.81 Lockheed Martin Maritime Systems 100.17 Sony DADC 51.91 Matsushita Electronic Components 17.91 Foster Wheeler Environmental Corp. 55.67

(Multiple Choice)

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Question 7

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of sales Managers. The IQR for these data is Min Q1 Median Q3 Max 20.94 37.64 44.77 49.34 67.11

(Multiple Choice)

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Question 8

The following boxplots show monthly sales revenue figures ($ thousands) for a discount office supply company with locations in three different regions of the U.S. (Northeast, Southeast, and West). a. Which region has the highest median sales revenue? b. Which region has the lowest median sales revenue? c. Which region has the most variable sales revenue values? Explain.

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Question 9

Describe displays of distributions. -Below is a histogram of salaries (in $) for a sample of U.S. marketing managers. The Shape of this distribution is

(Multiple Choice)

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Question 10

Interpret displays of distributions. -The following boxplots show monthly sales revenue figures ($ thousands) for a Discount office supply company with locations in three different regions of the U.S. (Northeast, Southeast, and West). Which of the following statements is false?

(Multiple Choice)

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Question 11

Interpret displays of distributions. -The following boxplots show monthly sales revenue figures ($ thousands) for a Discount office supply company with locations in three different regions of the U.S. (Northeast, Southeast, and West). Which of the following statements is true?

(Multiple Choice)

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Question 12

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of sales Managers. The range for these data is Min Q1 Median Q3 Max 20.94 37.64 44.77 49.34 67.11

(Multiple Choice)

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Question 13

The following table shows closing share prices (on the first trading day of August, 2007) for a small sample of companies. COMPANY CLOSING SHARE PRICE - 08/07 3M Dental Products 86.95 Tyco Electronics Power Systems 47.45 Kyocera America Inc. 94.10 Pfizer Inc. 22.39 Xerox Company 17.56 Northrop Grumman Corporation 75.81 Lockheed Martin Maritime Systems 100.17 Sony DADC 51.91 Matsushita Electronic Components 17.91 Foster Wheeler Environmental Corp. 55.67 a. Calculate the mean. b. Calculate the standard deviation c. Standardize the share price for Matsushita Electronic Components (find the z score). Interpret its meaning.

(Essay)

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Question 14

Following is the five number summary of the hourly wages ($) for sales managers displayed in question 1. Min Q1 Median Q3 Max 20.94 37.64 44.77 49.34 67.11 Suppose there had been an error and that the lowest hourly wage for sales managers was $18.50 instead of $20.94. Indicate how this change would affect the following summary statistics (increase, decrease, or stay about the same): a. Mean b. Median c. Range d. IQR e. Standard deviation

(Essay)

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Question 15

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of sales Managers. Suppose the mean hourly wage is $38.50. What can we say about the shape Of the distribution? Min Q1 Median Q3 Max 20.94 37.64 44.77 49.34 67.11

(Multiple Choice)

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Question 16

Analyze scatterplots and correlation coefficients. -For the data on total assets ($ billion) for a small sample of U.S. banks provided in the previous question: a. Calculate the mean. b. Calculate the standard deviation. c. Standardize the asset value of Fifth Third Bank (find the z score). Interpret its meaning.

(Essay)

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Question 17

Analyze data of quantitative variables. -The following table shows total assets ($ billion) for a small sample of U.S. banks. The standard deviation for these data is BANK ASSETS (\ billion) Bank of New York 88 Regions Financial 80 Fifth Third Bank 58 State Street Bank and Trust 92 Branch Banking and Trust Company 81 Chase Bank 70 Key Bank 89 PNC Bank 84

(Multiple Choice)

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Question 18

Interpret summary statistics. -Based on the five number summary (shown below) for salaries of U.S. marketing Managers, the IQR is Min Q1 Median Q3 Max 46360 69693 77020 91750 129420

(Multiple Choice)

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Question 19

Following is a time series graph for monthly closing price of 3M Dental Products stock (beginning June 2005). a. Are the closing prices for shares of 3M Dental Products from June 2005 through August 2007 stationary? Explain. b. Would a histogram provide a good summary of these stock prices? Explain.

(Essay)

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Question 20

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of advertising / Promotion managers. Suppose there had been an error and that the lowest hourly wage Was $15.50 instead of $19.64. This would result in Min Q1 Median Q3 Max 19.64 29.36 34.18 40.86 57.26

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of sales Managers. The IQR for these data is Min Q1 Median Q3 Max 20.94 37.64 44.77 49.34 67.11

Describe displays of distributions. -Below is a histogram of salaries (in $) for a sample of U.S. marketing managers. The Shape of this distribution is

Interpret displays of distributions. -The following boxplots show monthly sales revenue figures ($ thousands) for a Discount office supply company with locations in three different regions of the U.S. (Northeast, Southeast, and West). Which of the following statements is false?

Interpret displays of distributions. -The following boxplots show monthly sales revenue figures ($ thousands) for a Discount office supply company with locations in three different regions of the U.S. (Northeast, Southeast, and West). Which of the following statements is true?

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of sales Managers. The range for these data is Min Q1 Median Q3 Max 20.94 37.64 44.77 49.34 67.11

Interpret summary statistics. -Consider the five number summary of hourly wages ($) for a sample of sales Managers. Suppose the mean hourly wage is $38.50. What can we say about the shape Of the distribution? Min Q1 Median Q3 Max 20.94 37.64 44.77 49.34 67.11

Interpret summary statistics. -Based on the five number summary (shown below) for salaries of U.S. marketing Managers, the IQR is Min Q1 Median Q3 Max 46360 69693 77020 91750 129420

Following is a time series graph for monthly closing price of 3M Dental Products stock (beginning June 2005). a. Are the closing prices for shares of 3M Dental Products from June 2005 through August 2007 stationary? Explain. b. Would a histogram provide a good summary of these stock prices? Explain.

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Introduction to Data Mining

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