Question 1

In a symmetric population,the median equals the mode.

Accepted Answer

A) True 
 B)False  True

Question 2

Another name for the 50th percentile is the ___________.

Accepted Answer

A)  mean 
B)  first quartile 
C)  median 
D)  mode 
E)  third quartile 
A)  mean 
B)  first quartile 
C)  median 
D)  mode 
E)  third quartile C

Question 3

The pth percentile is a value such that (100−p)percent of the measurements fall at or below the value.

Accepted Answer

A) True 
 B)False  False

Question 4

The median is the measure of central tendency that divides a population or sample into four equal parts.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is influenced the least by the occurrence of extreme values in a sample?

Accepted Answer

A)  mean 
B)  median 
C)  geometric mean 
D)  weighted mean 
A)  mean 
B)  median 
C)  geometric mean 
D)  weighted mean

Question 6

The point estimate of the _______________ is the positive square root of the sample variance.

Accepted Answer

A)  sample mean 
B)  sample standard deviation 
C)  range 
D)  median 
E)  population standard deviation 
A)  sample mean 
B)  sample standard deviation 
C)  range 
D)  median 
E)  population standard deviation

Question 7

The ______________ is a quantity that measures the variation of a population or sample relative to its mean.

Accepted Answer

A)  mean 
B)  standard deviation 
C)  range 
D)  coefficient of variation 
E)  Z-score 
A)  mean 
B)  standard deviation 
C)  range 
D)  coefficient of variation 
E)  Z-score

Question 8

The median is said to be resistant to extreme values.

Accepted Answer

A) True 
 B)False

Question 9

The geometric mean is the rate of change that yields better wealth at the end of a set of time periods than the actual returns.

Accepted Answer

A) True 
 B)False

Question 10

A measurement located outside the upper limits of a box-and-whiskers display is ___________.

Accepted Answer

A)  always in the first quartile 
B)  an outlier 
C)  always the largest value in the data set 
D)  within the lower limits 
A)  always in the first quartile 
B)  an outlier 
C)  always the largest value in the data set 
D)  within the lower limits

Question 11

Which percentile describes the third quartile,Q3?

Accepted Answer

A)  25th 
B)  50th 
C)  75th 
D)  100th 
A)  25th 
B)  50th 
C)  75th 
D)  100th

Question 12

The mean is one component of the five-number summary.

Accepted Answer

A) True 
 B)False

Question 13

As a measure of variation,the sample ___________ is easy to understand and compute.It is based on the two extreme values and is therefore a highly unstable measure.

Accepted Answer

A)  range 
B)  standard deviation 
C)  variance 
D)  interquartile range 
E)  coefficient of variation 
A)  range 
B)  standard deviation 
C)  variance 
D)  interquartile range 
E)  coefficient of variation

Question 14

If the mean is greater than the median,then the distribution is ___________.

Accepted Answer

A)  skewed right 
B)  skewed left 
C)  symmetrical 
D)  bimodal 
A)  skewed right 
B)  skewed left 
C)  symmetrical 
D)  bimodal

Question 15

The weights that are used in calculating a weighted mean will vary depending on the situation.

Accepted Answer

A) True 
 B)False

Question 16

A local grocery market is studying whether to offer a loyalty program to its customers.In its final analyses the following groups are being used to categorize loyalty card customers: family income and number of children.Using the classification tree below,estimate the percentage of customers with an income of $50,000 with 2 children who would use a loyalty card

Accepted Answer

40%
Tree moves from Yes with i

Question 17

Z-score is often used as a measure of risk.

Accepted Answer

A) True 
 B)False

Question 18

A manufacturer of Product X has developed a model for predicting monthly sales of their product based on the sales from the same month of the previous year and the forecasted average daily temperature for the month.Using the regression tree below based on a random sample of 30 observations predict sales for a future where the previous year's monthly sales were $21.2 million dollars and the forecasted average daily temperature for the month will be 45 degrees.

Accepted Answer

$18.3 Million
Monthl

Question 19

A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company.From survey data gathered two years ago,the researchers found the following table.Calculate the average age to give to the CEO.

Accepted Answer

The answer of A company CEO asked the marketing research...

Question 20

The rate of return for each of the past four years on a market fund are R1 = 2.4%,R2 = 1.0%,R3 = −3.2%,and R4 = 0.5%.Find the geometric mean rate of return.

Accepted Answer

.0015 R_g = (⁴√(1.024)(

In a symmetric population,the median equals the mode.

Another name for the 50th percentile is the ___________.

The pth percentile is a value such that (100−p)percent of the measurements fall at or below the value.

The median is the measure of central tendency that divides a population or sample into four equal parts.

Which of the following is influenced the least by the occurrence of extreme values in a sample?

The point estimate of the _______________ is the positive square root of the sample variance.

The ______________ is a quantity that measures the variation of a population or sample relative to its mean.

The median is said to be resistant to extreme values.

The geometric mean is the rate of change that yields better wealth at the end of a set of time periods than the actual returns.

A measurement located outside the upper limits of a box-and-whiskers display is ___________.

Which percentile describes the third quartile,Q3?

The mean is one component of the five-number summary.

As a measure of variation,the sample ___________ is easy to understand and compute.It is based on the two extreme values and is therefore a highly unstable measure.

If the mean is greater than the median,then the distribution is ___________.

The weights that are used in calculating a weighted mean will vary depending on the situation.

Z-score is often used as a measure of risk.

A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company.From survey data gathered two years ago,the researchers found the following table.Calculate the average age to give to the CEO.

The rate of return for each of the past four years on a market fund are R₁ = 2.4%,R₂ = 1.0%,R₃ = −3.2%,and R₄ = 0.5%.Find the geometric mean rate of return.

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

Statistical Inferences for Means and Proportions

Statistical Inferences for Population Variances

Experimental Design and Analysis of Variance

Chi-Square Tests

Simple Linear Regression Analysis

Multiple Regression and Model Building

Time Series Forecasting and Index Numbers

Nonparametric Methods

Decision Theory

Filters

Exam 3: Descriptive Statistics: Numerical Methods

In a symmetric population,the median equals the mode.

Another name for the 50th percentile is the ___________.

The pth percentile is a value such that (100−p)percent of the measurements fall at or below the value.

The median is the measure of central tendency that divides a population or sample into four equal parts.

Which of the following is influenced the least by the occurrence of extreme values in a sample?

The point estimate of the _______________ is the positive square root of the sample variance.

The ______________ is a quantity that measures the variation of a population or sample relative to its mean.

The median is said to be resistant to extreme values.

The geometric mean is the rate of change that yields better wealth at the end of a set of time periods than the actual returns.

A measurement located outside the upper limits of a box-and-whiskers display is ___________.

Which percentile describes the third quartile,Q3?

The mean is one component of the five-number summary.

As a measure of variation,the sample ___________ is easy to understand and compute.It is based on the two extreme values and is therefore a highly unstable measure.

If the mean is greater than the median,then the distribution is ___________.

The weights that are used in calculating a weighted mean will vary depending on the situation.

Z-score is often used as a measure of risk.

A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company.From survey data gathered two years ago,the researchers found the following table.Calculate the average age to give to the CEO.

The rate of return for each of the past four years on a market fund are R1 = 2.4%,R2 = 1.0%,R3 = −3.2%,and R4 = 0.5%.Find the geometric mean rate of return.

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

Statistical Inferences for Means and Proportions

Statistical Inferences for Population Variances

Experimental Design and Analysis of Variance

Chi-Square Tests

Simple Linear Regression Analysis

Multiple Regression and Model Building

Time Series Forecasting and Index Numbers

Nonparametric Methods

Decision Theory

Filters

The rate of return for each of the past four years on a market fund are R₁ = 2.4%,R₂ = 1.0%,R₃ = −3.2%,and R₄ = 0.5%.Find the geometric mean rate of return.