Exam 3: Descriptive Statistics

Considering sales levels at each hour of operation in a shoe store, a business analyst finds that the mode is between 3pm and 4pm each day.The analyst could conclude that ___________.

The average starting salary for graduates at a university is $25,000 with a standard deviation of $2,000.If a histogram of the data shows that it takes on a mound shape, the empirical rule says that approximately 95% of the graduates would have a starting salary between ___.

A statistics student made the following grades on 5 tests: 84, 78, 88, 78, and 82.What is the mode?

The greater the coefficient of variation value the lower the variability and thereby lower risk.

Liz Chapa manages a portfolio of 250 common stocks.Her staff compiled the following performance statistics for two new stocks. The coefficient of variation for Hot Boards, Inc.is __________.

A student reviewed their final grade and in addition to seeing their final grade, their professor gave them their percentile score.If a student scores in the 92^nd percentile that means that 92% of the students' scores are above this student score.

The hourly production of a plastic cup company is tracked over several months and is found to be normally distributed.A business analyst creates a box and whisker plot from those data and finds that the box starts at 15259 to 16,001.Based on the graph, what percentage of the hourly sales would the analyst expect to find within that range?

A given set of normally distributed data values has a mean of 335.40 and a standard deviation of 17.95.What is the z score for a value of 295.75?

If a data set is negatively skewed, which calculations cannot be used?

Percentiles divide a group of data into 99 parts

A business analyst compares 2017 daily sales to 2018 daily sales using descriptive statistics for each.In 2017, the standard deviation of daily sales was 73.87, while in 2018 the standard deviation of daily sales was 136.32.The analyst could conclude that ____________.

The middle value in an ordered array of numbers is called the mode.

The coefficient of variation is unitless.

The following twelve data values are provided: The 30^th percentile is _____

A business analyst could use descriptive statistics of skewness to determine if the empirical rule could appropriately be applied to a variable.

A business analyst is considering a data set reflecting the number of products purchased at one time, there is a mean of 159 and a standard deviation of 43.2.Given that the data set the number of products purchased for 5,791 purchases and is mound shaped, the analyst would expect 68% of the data points to be ________.

A business analyst is considering a data set reflecting the number of products purchased at one time, there is a minimum of 45 and a maximum of 61.Given that the data set the number of products purchased for 5,791 purchases, the number of values at the mode would be expected to be ________.

Liz Chapa manages a portfolio of 250 common stocks.Her staff compiled the following performance statistics for two new stocks: The coefficient of variation for Salas Products, Inc.is ___.

From a large data set, a variable would be considered positively skewed if the descriptive statistics showed the median to be less than the mean.

David Desreumaux, VP of Human Resources of Maritime Boat Manufacturing (MBM), is reviewing the employee training programs of MBM factories.His staff reports several statistics for safety training hours.The mean is 25 hours, the standard deviation is 7 hours, the median is 40 hours, and mode is 30 hours.Based on this information David can conclude that