Question 1

If there are seven classes in a frequency distribution,then the fourth class will always contain the median.

Accepted Answer

A) True 
 B)False

Question 2

If a population distribution is skewed to the right,then,given a random sample from that population,one would expect that the ____________.

Accepted Answer

A)  median would be greater than the mean 
B)  mode would be equal to the mean 
C)  median would be less than the mean 
D)  median would be equal to the mean 
A)  median would be greater than the mean 
B)  mode would be equal to the mean 
C)  median would be less than the mean 
D)  median would be equal to the mean

Question 3

Which of the following is a measure of the strength of the linear relationship between x and y that is dependent on the units in which x and y are measured.

Accepted Answer

A)  covariance 
B)  correlation coefficient 
C)  slope 
D)  least squares line 
A)  covariance 
B)  correlation coefficient 
C)  slope 
D)  least squares line

Question 4

In the calculation of a mean for grouped data,we assume that the average of the measurements in each class equals the class midpoint.

Accepted Answer

A) True 
 B)False

Question 5

An initial investment of $10,000 has a value of $7,382 at the end of year 1.What is the rate of return for the first year?

Accepted Answer

−26.18% R₁ = ((7382 −

Question 6

The ending value of an initial investment can be calculated using weighted means.

Accepted Answer

A) True 
 B)False

Question 7

A normal population has 99.73 percent of the population measurements within __________ standard deviation(s)of the mean.

Accepted Answer

A)  1 
B)  2 
C)  3 
D)  4 
A)  1 
B)  2 
C)  3 
D)  4

Question 8

The average of the squared deviations of the individual population measurement from the population mean is the ___________.

Accepted Answer

A)  standard deviation 
B)  mean 
C)  variance 
D)  median 
E)  range 
A)  standard deviation 
B)  mean 
C)  variance 
D)  median 
E)  range

Question 9

Data summarized in a frequency distribution or histogram form are often called weighted data.

Accepted Answer

A) True 
 B)False

Question 10

The range of the measurement is the largest measurement plus the smallest measurement.

Accepted Answer

A) True 
 B)False

Question 11

An interval that contains a specified percentage of the individual measurements is called a(n)_______________ interval.

Accepted Answer

A)  three-sigma 
B)  tolerance 
C)  normal 
D)  empirical 
A)  three-sigma 
B)  tolerance 
C)  normal 
D)  empirical

Question 12

When calculating the geometric mean,a quantity of 1 is added to the nth root of the product (1 + R1)(1 + R2)...(1 + Rn).

Accepted Answer

A) True 
 B)False

Question 13

Which percentile describes the first quartile,Q1?

Accepted Answer

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

Question 14

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 15

Find the weighted mean per capita income for the following random sample of six cities in the Midwest.

Accepted Answer

The answer of Find the weighted mean per capita income...

Question 16

Following a factor analysis of 15 personality characteristic ratings of politicians by a random sample of 40,000 registered voters,the following table of the first 7 factors and their corresponding eigenvalues and percentage of explained variation was produced.Which factors should an analyst choose when defining the characteristics of politicians?

Accepted Answer

Factors 1 ,2,3,and 4

Question 17

A correlation coefficient close to −1 says x and y are highly related.

Accepted Answer

A) True 
 B)False

If there are seven classes in a frequency distribution,then the fourth class will always contain the median.

If a population distribution is skewed to the right,then,given a random sample from that population,one would expect that the ____________.

Which of the following is a measure of the strength of the linear relationship between x and y that is dependent on the units in which x and y are measured.

In the calculation of a mean for grouped data,we assume that the average of the measurements in each class equals the class midpoint.

An initial investment of $10,000 has a value of $7,382 at the end of year 1.What is the rate of return for the first year?

The ending value of an initial investment can be calculated using weighted means.

A normal population has 99.73 percent of the population measurements within __________ standard deviation(s)of the mean.

The average of the squared deviations of the individual population measurement from the population mean is the ___________.

Data summarized in a frequency distribution or histogram form are often called weighted data.

The range of the measurement is the largest measurement plus the smallest measurement.

An interval that contains a specified percentage of the individual measurements is called a(n)_______________ interval.

When calculating the geometric mean,a quantity of 1 is added to the nth root of the product (1 + R₁)(1 + R₂)...(1 + R_n).

Which percentile describes the first quartile,Q1?

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.

Find the weighted mean per capita income for the following random sample of six cities in the Midwest.

A correlation coefficient close to −1 says x and y are highly related.

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

If there are seven classes in a frequency distribution,then the fourth class will always contain the median.

If a population distribution is skewed to the right,then,given a random sample from that population,one would expect that the ____________.

Which of the following is a measure of the strength of the linear relationship between x and y that is dependent on the units in which x and y are measured.

In the calculation of a mean for grouped data,we assume that the average of the measurements in each class equals the class midpoint.

An initial investment of $10,000 has a value of $7,382 at the end of year 1.What is the rate of return for the first year?

The ending value of an initial investment can be calculated using weighted means.

A normal population has 99.73 percent of the population measurements within __________ standard deviation(s)of the mean.

The average of the squared deviations of the individual population measurement from the population mean is the ___________.

Data summarized in a frequency distribution or histogram form are often called weighted data.

The range of the measurement is the largest measurement plus the smallest measurement.

An interval that contains a specified percentage of the individual measurements is called a(n)_______________ interval.

When calculating the geometric mean,a quantity of 1 is added to the nth root of the product (1 + R1)(1 + R2)...(1 + Rn).

Which percentile describes the first quartile,Q1?

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.

Find the weighted mean per capita income for the following random sample of six cities in the Midwest.

A correlation coefficient close to −1 says x and y are highly related.

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

When calculating the geometric mean,a quantity of 1 is added to the nth root of the product (1 + R₁)(1 + R₂)...(1 + R_n).