Exam 3: Numerical Descriptive Measures

As a rule, a value is considered an extreme value if its Z score is greater than 3.

The Z scores can be used to identify outliers.

SCENARIO 3-2 The data below represent the number of grams of carbohydrates in a serving of breakfast cereal in a sample of 11 different servings. -Referring to Scenario 3-2, the range in the carbohydrate amounts is ________ grams.

The coefficient of variation is a measure of central tendency in the data.

SCENARIO 3-2 The data below represent the number of grams of carbohydrates in a serving of breakfast cereal in a sample of 11 different servings. -Referring to Scenario 3-2, is the carbohydrate amount in the cereal leptokurtic or platykurtic?

SCENARIO 3-7 In a recent academic year, many public universities in the United States raised tuition and fees due to a decrease in state subsidies.The change in the cost of tuition, a shared dormitory room, and the most popular meal plan from the previous academic year for a sample of 10 public universities were as follows: $1,589, $593, $1,223, $869, $423, $1,720, $708, $1425, $922 and $308. -Referring to Scenario 3-7, what is the interquartile range of the change in the cost?

SCENARIO 3-2 The data below represent the number of grams of carbohydrates in a serving of breakfast cereal in a sample of 11 different servings. -Referring to Scenario 3-2, the arithmetic mean carbohydrates in this sample is ________ grams.

SCENARIO 3-11 Given below are the closing prices for the Dow Jones Industrial Average (DJIA)and the Standard & Poor's (S&P)500 Index over 10-weeks sometime in the past. -Referring to Scenario 3-11, what is the sample correlation coefficient between the DJIA and the S&P 500 index?

SCENARIO 3-5 The rate of return of a Fortune 500 company over the past 15 years are: 3.17%, 4.43%, 5.93%, 5.43%, 7.29%, 8.21%, 6.23%, 5.23%, 4.34%, 6.68%, 7.14%, -5.56%, -5.23%, -5.73%, -10.34% -Referring to Scenario 3-5, construct a boxplot for the rate of return.

Which of the following is NOT sensitive to extreme values?

You were told that the quartiles of female students' weight at a major university are 95 lbs., 125 lbs., and 138 lbs...What percentage of the students weigh less than 95 lbs...?

SCENARIO 3-2 The data below represent the number of grams of carbohydrates in a serving of breakfast cereal in a sample of 11 different servings. -Referring to Scenario 3-2, the interquartile range in the carbohydrate amounts is ________ grams.

The median of the values 3.4, 4.7, 1.9, 7.6, and 6.5 is 4.05.

SCENARIO 3-1 Health care issues are receiving much attention in both academic and political arenas.A sociologist recently conducted a survey of citizens over 60 years of age whose net worth is too high to qualify for Medicaid.The ages of 25 senior citizens were as follows: -Referring to Scenario 3-1, calculate the coefficient of variation of the ages of the senior citizens.

The median of a data set with 20 items would be the average of the 10th and the 11th items in the ordered array.

SCENARIO 3-1 Health care issues are receiving much attention in both academic and political arenas.A sociologist recently conducted a survey of citizens over 60 years of age whose net worth is too high to qualify for Medicaid.The ages of 25 senior citizens were as follows: -Referring to Scenario 3-1, calculate the standard deviation of the ages of the senior citizens correct to the nearest hundredth of a year.

The geometric mean is useful in measuring the rate of change of a variable over time.

In left-skewed distributions, the distance from the smallest value to Q₁ is greater than the distance from Q₃ to the largest value.

In a set of numerical data, the value for Q₂ is always halfway between Q₁ and Q₃.

SCENARIO 3-8 The period from 2010 to 2013 saw a great deal of volatility in the value of stocks.The data in the following table represent the total rate of return of our companies from 2010 to 2013. -Referring to Scenario 3-8, calculate the geometric mean rate of return per year for Company D.