Question 1

The measurement in a sample or a population that occurs most frequently is the ___________.

Accepted Answer

A) Mode 
B) Mean 
C) Median 
D) Outlier 
E) Average 
A) Mode 
B) Mean 
C) Median 
D) Outlier 
E) Average

Question 2

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m. ).They selected 13 patrons and had them get in line between 2 and 3 p.m.Each was given a stopwatch to record the time they spent in line.The times recorded were as follows (in minutes).
118,124,108,116,99,120,148,118,119,121,45,130,118
What is the first quartile?

Accepted Answer

A) 100.8 
B) 118 
C) 130 
D) 116 
E) 45 
A) 100.8 
B) 118 
C) 130 
D) 116 
E) 45

Question 3

In a statistics class,the following 10 scores were randomly selected: 74,73,77,77,71,68,65,77,67,66.
What is the mean?

Accepted Answer

A) 71.5 
B) 72.0 
C) 77.0 
D) 71.0 
E) 73.0 
A) 71.5 
B) 72.0 
C) 77.0 
D) 71.0 
E) 73.0

Question 4

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m. ).They selected 13 patrons and had them get in line between 2 and 3 p.m.Each was given a stopwatch to record the time they spent in line.The times recorded were as follows (in minutes).
118,124,108,116,99,120,148,118,119,121,45,130,118
What are the lower and upper limits?

Accepted Answer

A) 108.5,128.5 
B) 80.5,154.00 
C) 127.75,138.25 
D) 143.50,154.00 
E) 15.75,31.50 
A) 108.5,128.5 
B) 80.5,154.00 
C) 127.75,138.25 
D) 143.50,154.00 
E) 15.75,31.50

Question 5

Researchers wish to study fuel consumption rates based on speed.The data from 10 cars are below:
$\begin{array} { | l | l | } 
\hline \text { Speed } & \text { Miles/Gallon } \
\hline 15 & 14 \
\hline 23 & 17 \
\hline 30 & 20 \
\hline 35 & 24 \
\hline 42 & 26 \
\hline 45 & 23 \
\hline 50 & 18 \
\hline 54 & 15 \
\hline 60 & 11 \
\hline 65 & 10 \
\hline
\end{array}$ 
It can be shown that for these data: $\bar{X}=41.9, \quad \bar{y}=17.8, \quad \sum_{i=1}^{10}\left(x_{i}-\bar{x}\right)^{2}=2352.9$ 
 $\sum_{i=1}^{10}\left(y_{i}-\bar{y}\right)^{2}=267.6, \quad \sum_{i=1}^{10}\left(x_{i}-\bar{x}\right)\left(y_{i}-\bar{y}\right)=-270.2$ 
Calculate b1.

Accepted Answer

-0.1148
Fe

Question 6

Personnel managers usually want to know where a job applicant ranked in his or her graduating class.With a grade point average of 3.83,Michelle Robinson graduated above the 93rd percentile of her graduating class.What is the percentile rank of a student whose GPA was the median GPA.

Accepted Answer

A) 25th 
B) 50th 
C) 75th 
D) 10th 
E) 93rd 
A) 25th 
B) 50th 
C) 75th 
D) 10th 
E) 93rd

Question 7

In a hearing test,subjects estimate the loudness (in decibels)of a sound,and the results are (mean = 70):
68,67,70,71,68,75,68,62,80,73,68
What is the standard deviation?

Accepted Answer

A) 18 
B) 4.73 
C) 22.40 
D) 324 
E) 6.76 
A) 18 
B) 4.73 
C) 22.40 
D) 324 
E) 6.76

Question 8

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent.Annual sales in 2005 were $14.2 million.Find the ending value of sales after this four-year period.

Accepted Answer

$26.09 mil

Question 9

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002. $\begin{array} { l c } 
\underline { \text { Year } } & \underline {\text { P/E Ratio }} \
1998 & 12.4 \
1999 & 14.6 \
2000 & 11.1 \
2001 & 8.2 \
2002 & 6.8
\end{array}$
Determine the percentage change in the P/E ratios from 1999 to 2000.

Accepted Answer

A) 23.97% 
B) 31.53% 
C) 27.26% 
D) -31.53% 
E) -23.97 
A) 23.97% 
B) 31.53% 
C) 27.26% 
D) -31.53% 
E) -23.97

Question 10

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.She took a random sample of the price of 10 computers,with the following results.
$3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000
What is the 65th percentile?

Accepted Answer

A) $1,446.50 
B) $2,617.00 
C) $3,445.00 
D) $3,587.00 
E) $4,212.00 
A) $1,446.50 
B) $2,617.00 
C) $3,445.00 
D) $3,587.00 
E) $4,212.00

Question 11

If b0 = 32 and b1 = -4 and the predicted value of y is 14,what is the value of x?

Accepted Answer

A) -24.0 
B) 18.0 
C) 4.5 
D) 0.56 
A) -24.0 
B) 18.0 
C) 4.5 
D) 0.56

Question 12

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.She took a random sample of the price of 10 computers,with the following results.
$3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000
What is the 10th percentile?

Accepted Answer

A) $1,304.50 
B) $2,617.00 
C) $3,415.75 
D) $3,587.00 
E) $4,212.00 
A) $1,304.50 
B) $2,617.00 
C) $3,415.75 
D) $3,587.00 
E) $4,212.00

Question 13

In a statistics class,10 scores were randomly selected with the following results were obtained: 74,73,77,77,71,68,65,77,67,66.
What is the mode?

Accepted Answer

A) 71.5 
B) 72.0 
C) 77.0 
D) 71.0 
E) 73.0 
A) 71.5 
B) 72.0 
C) 77.0 
D) 71.0 
E) 73.0

Question 14

In a hearing test,subjects estimate the loudness (in decibels)of a sound,and the results are (mean = 70):
68,67,70,71,68,75,68,62,80,73,68
What is the variance?

Accepted Answer

A) 18 
B) 4.73 
C) 22.40 
D) 324 
E) 6.76 
A) 18 
B) 4.73 
C) 22.40 
D) 324 
E) 6.76

Question 15

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m. ).They selected 13 patrons and had them get in line between 2 and 3 p.m.Each was given a stopwatch to record the time they spent in line.The times recorded were as follows (in minutes).
118,124,108,116,99,120,148,118,119,121,45,130,118
What is the third quartile?

Accepted Answer

A) 100.8 
B) 118 
C) 130 
D) 112 
E) 121 
A) 100.8 
B) 118 
C) 130 
D) 112 
E) 121

Question 16

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.She took a random sample of the price of 10 computers,with the following results.
$3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000
What is the 90th percentile?

Accepted Answer

A) $1,446.50 
B) $3,449.00 
C) $3,415.75 
D) $4,000.00 
E) $5,060.00 
A) $1,446.50 
B) $3,449.00 
C) $3,415.75 
D) $4,000.00 
E) $5,060.00

Question 17

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m. ).They selected 13 patrons and had them get in line between 2 and 3 p.m.Each was given a stopwatch to record the time they spent in line.The times recorded were as follows (in minutes).
118,124,108,116,99,120,148,118,119,121,45,130,118
What is the 90th percentile?

Accepted Answer

A) 100.8 
B) 118 
C) 130 
D) 112 
E) 45 
A) 100.8 
B) 118 
C) 130 
D) 112 
E) 45

Question 18

In a study of employee stock ownership plans,data wee collected at seven companies on satisfaction with the plan and the amount of organization commitment.
$\begin{array} { | l | l | } 
\hline \text { Satisfaction } & \text { Commitment } \
\hline 5.05 & 5.37 \
\hline 4.12 & 4.49 \
\hline 5.39 & 5.42 \
\hline 4.17 & 4.45 \
\hline 4.00 & 4.24 \
\hline 4.49 & 5.34 \
\hline 5.40 & 5.62 \
\hline
\end{array}$ 
It can be shown that for these data: $\bar{X}=4.66, \quad \bar{y}=4.99, \quad \sum_{i=1}^{7}\left(x_{i}-\bar{x}\right)^{2}=2.23$ 
 $\sum_{i=1}^{7}\left(y_{i}-\bar{y}\right)^{2}=1.95, \quad \sum_{i=1}^{7}\left(x_{i}-\bar{x}\right)\left(y_{i}-\bar{y}\right)=1.898$ 
Calculate b1.

Accepted Answer

0.851
Feed

Question 19

The following frequency table summarizes the ages of 60 shoppers at the local grocery store. $\begin{array} { c c } 
\text { Age of the shopper } & \text { Frequency } \
\hline 15 - 23 & 10 \
24 - 32 & 21 \
33 - 41 & 10 \
42 - 50 & 8 \
51 - 59 & 5 \
60 - 68 & 6
\end{array}$
The sample mean for the above frequency table is calculated as 36.25.Calculate the approximate sample standard deviation for this data set.

Accepted Answer

A) 181.08 
B) 184.15 
C) 26.83 
D) 13.46 
E) 13.57 
A) 181.08 
B) 184.15 
C) 26.83 
D) 13.46 
E) 13.57

Question 20

The arithmetic mean is ___________ larger than a weighted mean in a set of data that uses unequal weights.

Accepted Answer

A) Always 
B) Sometimes 
C) Never 
A) Always 
B) Sometimes 
C) Never

The measurement in a sample or a population that occurs most frequently is the ___________.

In a statistics class,the following 10 scores were randomly selected: 74,73,77,77,71,68,65,77,67,66. What is the mean?

Personnel managers usually want to know where a job applicant ranked in his or her graduating class.With a grade point average of 3.83,Michelle Robinson graduated above the 93^rd percentile of her graduating class.What is the percentile rank of a student whose GPA was the median GPA.

In a hearing test,subjects estimate the loudness (in decibels)of a sound,and the results are (mean = 70): 68,67,70,71,68,75,68,62,80,73,68 What is the standard deviation?

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent.Annual sales in 2005 were $14.2 million.Find the ending value of sales after this four-year period.

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002. 1998 12.4 1999 14.6 2000 11.1 2001 8.2 2002 6.8 Determine the percentage change in the P/E ratios from 1999 to 2000.

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.She took a random sample of the price of 10 computers,with the following results. $3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000 What is the 65^th percentile?

If b₀ = 32 and b₁ = -4 and the predicted value of y is 14,what is the value of x?

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.She took a random sample of the price of 10 computers,with the following results. $3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000 What is the 10^th percentile?

In a statistics class,10 scores were randomly selected with the following results were obtained: 74,73,77,77,71,68,65,77,67,66. What is the mode?

In a hearing test,subjects estimate the loudness (in decibels)of a sound,and the results are (mean = 70): 68,67,70,71,68,75,68,62,80,73,68 What is the variance?

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.She took a random sample of the price of 10 computers,with the following results. $3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000 What is the 90^th percentile?

The arithmetic mean is ___________ larger than a weighted mean in a set of data that uses unequal weights.

An Introduction to Business Statistics

Descriptive Statistics: Tabular and Graphical Methods

Probability

Discrete Random Variables

Continuous Random Variables

Sampling and Sampling Distributions

Confidence Intervals

Hypothesis Testing

Comparing Two Means and Two Proportions

Filters

Exam 3: Descriptive Statistics: Numerical Methods

The measurement in a sample or a population that occurs most frequently is the ___________.

In a statistics class,the following 10 scores were randomly selected: 74,73,77,77,71,68,65,77,67,66. What is the mean?

Personnel managers usually want to know where a job applicant ranked in his or her graduating class.With a grade point average of 3.83,Michelle Robinson graduated above the 93rd percentile of her graduating class.What is the percentile rank of a student whose GPA was the median GPA.

In a hearing test,subjects estimate the loudness (in decibels)of a sound,and the results are (mean = 70): 68,67,70,71,68,75,68,62,80,73,68 What is the standard deviation?

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent.Annual sales in 2005 were $14.2 million.Find the ending value of sales after this four-year period.

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002. 1998 12.4 1999 14.6 2000 11.1 2001 8.2 2002 6.8 Determine the percentage change in the P/E ratios from 1999 to 2000.

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.She took a random sample of the price of 10 computers,with the following results. $3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000 What is the 65th percentile?

If b0 = 32 and b1 = -4 and the predicted value of y is 14,what is the value of x?

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.She took a random sample of the price of 10 computers,with the following results. $3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000 What is the 10th percentile?

In a statistics class,10 scores were randomly selected with the following results were obtained: 74,73,77,77,71,68,65,77,67,66. What is the mode?

In a hearing test,subjects estimate the loudness (in decibels)of a sound,and the results are (mean = 70): 68,67,70,71,68,75,68,62,80,73,68 What is the variance?

The company financial officer was interested in the average cost of PCs that had been purchased in the past six months.She took a random sample of the price of 10 computers,with the following results. $3,250,$1,127,$2,995,$3,250,$3,445,$3,449,$1,482,$6,120,$3,009,$4,000 What is the 90th percentile?

The arithmetic mean is ___________ larger than a weighted mean in a set of data that uses unequal weights.

An Introduction to Business Statistics

Descriptive Statistics: Tabular and Graphical Methods

Probability

Discrete Random Variables

Continuous Random Variables

Sampling and Sampling Distributions

Confidence Intervals

Hypothesis Testing

Comparing Two Means and Two Proportions

Filters

Personnel managers usually want to know where a job applicant ranked in his or her graduating class.With a grade point average of 3.83,Michelle Robinson graduated above the 93^rd percentile of her graduating class.What is the percentile rank of a student whose GPA was the median GPA.

If b₀ = 32 and b₁ = -4 and the predicted value of y is 14,what is the value of x?