Question 1

Three persons earn $8 an hour, six earn $9 an hour, and one earns $12 an hour. Find the weighted mean hourly wage.

Accepted Answer

A)  $8 
B)  $9 
C)  $12 
D)  $6 
E)  $10 
A)  $8 
B)  $9 
C)  $12 
D)  $6 
E)  $10

Question 2

The printout below is a summary of the average annual earnings of male full time workers in Canada from 1999-2008. Determine the coefficient of variation.

Accepted Answer

A)  1.0% 
B)  2.5% 
C)  3% 
D)  3.8% 
E)  4.25% 
A)  1.0% 
B)  2.5% 
C)  3% 
D)  3.8% 
E)  4.25%

Question 3

The U.S. Department of Education reported that for the past six years 23, 19, 15, 30, 27 and 25 women received doctorate degrees in computer and information sciences. What is the mean arithmetic annual number of women receiving this degree?

Accepted Answer

A)  15.1 
B)  23.2 
C)  37.9 
D)  22.9 
E)  $22.3 
A)  15.1 
B)  23.2 
C)  37.9 
D)  22.9 
E)  $22.3

Question 4

(i. Five students were given a page of problems with the instructions to solve as many as they could in one hour. Five students solved the following number of problems: 12, 10, 8, 6 and 4. The arithmetic mean number of minutes required per problem is 7.5 minutes (average of 8 problems in an hour). (ii) David Electronics had a profit of $10 million in 1998. Profit doubled from 1998 to 1999 and profit increased eight fold from 1999 to 2000. The annual geometric mean rate of growth from 1998 to 2000 was 200% (3 fold).
(iii) The difference between the highest and the lowest value in a set of data is called the range.

Accepted Answer

A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements. 
A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements.

Question 5

The U.S. Department of Education reported that for the past seven years 4,033, 5,652, 6,407, 7,201, 8,719, 11,154, and 15,121 people received bachelor's degrees in computer and information sciences. What is the arithmetic mean annual number receiving this degree?

Accepted Answer

A)  About 12,240 
B)  About 8,327 
C)  About 6,217 
D)  About 15,962 
E)  About 8,399 
A)  About 12,240 
B)  About 8,327 
C)  About 6,217 
D)  About 15,962 
E)  About 8,399

Question 6

(i. Five students were given a page of problems with the instructions to solve as many as they could in one hour. Five students solved the following number of problems: 12, 10, 8, 6 and 4. The arithmetic mean number of minutes required per problem is 6.5 minutes (average of 7 problems in an hour). (ii) David Electronics had a profit of $10 million in 1998. Profit doubled from 1998 to 1999 and profit increased eight fold from 1999 to 2000. The annual geometric mean rate of growth from 1998 to 2000 was 300% (4 fold).
(iii) The difference between the highest and the lowest value in a set of data is called the range.

Accepted Answer

A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements. 
A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements.

Question 7

Calculate the Software Coefficient of Skewness for the following data: 5 5 7 7 7.

Accepted Answer

A)  0.61 
B)  -0.61 
C)  0 
D)  2.1 
E)  -2.1 
A)  0.61 
B)  -0.61 
C)  0 
D)  2.1 
E)  -2.1

Question 8

(i. The arithmetic mean (measure of central tendency) cannot be determined if the distribution has an open-ended class. (ii) The measure of central tendency used to determine the average annual percent increase in sales from one time period to another is the arithmetic mean.
(iii) The smallest measure of central tendency in a positively skewed distribution is the mode

Accepted Answer

A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements. 
A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements.

Question 9

The following printout is a summary of housing prices in Edmonton:   What can we determine from this printout?

Accepted Answer

A)  The mean list price is less than both the median and modal prices 
B)  The median list price is the most representative as it is larger than the modal price and smaller than the mean price. 
C)  The modal price is affected by a few houses that must be priced very high 
D)  More than half of the houses are listed above $425,000. 
A)  The mean list price is less than both the median and modal prices 
B)  The median list price is the most representative as it is larger than the modal price and smaller than the mean price. 
C)  The modal price is affected by a few houses that must be priced very high 
D)  More than half of the houses are listed above $425,000.

Question 10

If a major sports star were to move into your neighbourhood, what would you expect to happen to the neighbourhood's "average" income?

Accepted Answer

A)  The mean income would increase significantly 
B)  The median income would increase significantly 
C)  The modal income would increase significantly 
D)  The mean income would increase significantly, but the modal income and median income would decrease 
E)  The standard deviation of the neighbourhood's income would get smaller 
A)  The mean income would increase significantly 
B)  The median income would increase significantly 
C)  The modal income would increase significantly 
D)  The mean income would increase significantly, but the modal income and median income would decrease 
E)  The standard deviation of the neighbourhood's income would get smaller

Question 11

Production of passenger cars in Japan increased from 3.94 million in 1990 to 6.74 million in 2000. What is the geometric mean annual percent increase?

Accepted Answer

A)  4.0 
B)  1.9 
C)  5.5 
D)  16.6 
E)  47.3 
A)  4.0 
B)  1.9 
C)  5.5 
D)  16.6 
E)  47.3

Question 12

AAA Heating and Air Conditioning completed 30 jobs last month with a mean revenue of $5,430 per job. The president wants to know the total revenue for the month.

Accepted Answer

A)  Insufficient information to estimate. 
B)  $5,430 
C)  $54,330 
D)  $162,900 
E)  $169,200 
A)  Insufficient information to estimate. 
B)  $5,430 
C)  $54,330 
D)  $162,900 
E)  $169,200

Question 13

A sample of five flooring installers, each carrying three types of flooring, was taken and the price per square metre (to the nearest cent) was recorded for each type of flooring, as shown in the table below.   (i) The range for laminate flooring is 0 or none.
(ii. The variance for laminate flooring is 0.
(iii) The range for nylon carpet is $0.15 or 15 cents.

Accepted Answer

A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements. 
A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements.

Question 14

(i. A small manufacturing company with 52 employees has annual salaries distributed such that the mean is $25,459, the median is $24,798 and the mode is $24,000. An additional foreman is hired at an annual salary of $50,700. The measure of central tendency that is most affected by the addition of this salary is the median. (ii) In the relationship between the mean and median in a negatively skewed distribution the mean is less than the median.
(iii) In the relationship between the median and the mode in a positively skewed distribution, the median is greater than the mode.

Accepted Answer

A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements. 
A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements.

Question 15

(i. The weekly sales from a sample of ten computer stores yielded a mean of $25,900; a median $25,000 and a mode of $24,500. The shape of the distribution is positively skewed (ii) For the median (measure of central tendency), the data must be ranked before it is possible to determine it.
(iii) If the sum of all the values of a distribution is divided by the number of values, the result is the arithmetic mean.

Accepted Answer

A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements. 
A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements.

Question 16

A question in a market survey asks for a respondent's favourite car colour. Which measure of central tendency should be used to summarize this question?

Accepted Answer

A)  Mode 
B)  Median 
C)  Mean 
D)  Geometric mean 
E)  Weighted mean 
A)  Mode 
B)  Median 
C)  Mean 
D)  Geometric mean 
E)  Weighted mean

Question 17

A study of the scores on an in-plant course in management principles and the years of service of the employees enrolled in the course resulted in these statistics: i. Mean test score was 200 with a standard deviation of 40
ii. Mean number of years of service was 20 years with a standard deviation of 2 years.
In comparing the relative dispersion of the two distributions, what are the coefficients of variation?

Accepted Answer

A)  Test 50%, service 60% 
B)  Test 100%, service 400% 
C)  Test 20%, service 10% 
D)  Test 35%, service 45% 
A)  Test 50%, service 60% 
B)  Test 100%, service 400% 
C)  Test 20%, service 10% 
D)  Test 35%, service 45%

Question 18

(i. The research director of a large oil company conducted a study of the buying habits of consumers with respect to the amount of gasoline purchased at full-service pumps. The arithmetic mean amount is 11.5 gallons and the median amount is 11.95 litres. The standard deviation of the sample is 4.5 litres. The Pearson's coefficient of skewness can be calculated to be +0.20. (ii) The Pearson's coefficient of skewness (Sk) measures the amount of skewness and may range from -3.0 to +3.0. It is computed by subtracting the median from the mean, multiplying the result by 3 and dividing by standard deviation.
(iii) A study has been made of the number of hours a light bulb will operate before it burns out. If the variance of this distribution were computed, it would be measured in hours squared

Accepted Answer

A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements. 
A)  (i), (ii) and (iii) are all correct statements 
B)  (i) and (ii) are correct statements but not (iii). 
C)  (i) and (iii) are correct statements but not (ii). 
D)  (ii) and (iii) are correct statements, but not (i). 
E)  (i), (ii) and (iii) are all false statements.

Question 19

A stockbroker placed the following order for a customer: -50 shares of Kaiser Aluminum preferred at $104 a share
-100 shares of GTE preferred at $25 1/4 a share
-20 shares of Boston Edison preferred at $9 1/8 a share
What is the weighted arithmetic mean price per share?

Accepted Answer

A)  $25.25 
B)  $79.75 
C)  $103.50 
D)  $46.51 
E)  Weighted mean cannot be computed for this data set. 
A)  $25.25 
B)  $79.75 
C)  $103.50 
D)  $46.51 
E)  Weighted mean cannot be computed for this data set.

Question 20

The lengths of time (in minutes) several underwriters took to review applications for similar insurance coverage are: 50, 230, 52 and 57. What is the median length of time required to review an application?

Accepted Answer

A)  54.5 
B)  141.0 
C)  97.25 
D)  109.0 
E)  $55.40 
A)  54.5 
B)  141.0 
C)  97.25 
D)  109.0 
E)  $55.40

Three persons earn $8 an hour, six earn $9 an hour, and one earns $12 an hour. Find the weighted mean hourly wage.

The printout below is a summary of the average annual earnings of male full time workers in Canada from 1999-2008. Determine the coefficient of variation.

The U.S. Department of Education reported that for the past six years 23, 19, 15, 30, 27 and 25 women received doctorate degrees in computer and information sciences. What is the mean arithmetic annual number of women receiving this degree?

The U.S. Department of Education reported that for the past seven years 4,033, 5,652, 6,407, 7,201, 8,719, 11,154, and 15,121 people received bachelor's degrees in computer and information sciences. What is the arithmetic mean annual number receiving this degree?

Calculate the Software Coefficient of Skewness for the following data: 5 5 7 7 7.

The following printout is a summary of housing prices in Edmonton: What can we determine from this printout?

If a major sports star were to move into your neighbourhood, what would you expect to happen to the neighbourhood's "average" income?

Production of passenger cars in Japan increased from 3.94 million in 1990 to 6.74 million in 2000. What is the geometric mean annual percent increase?

AAA Heating and Air Conditioning completed 30 jobs last month with a mean revenue of $5,430 per job. The president wants to know the total revenue for the month.

A question in a market survey asks for a respondent's favourite car colour. Which measure of central tendency should be used to summarize this question?

A stockbroker placed the following order for a customer: -50 shares of Kaiser Aluminum preferred at $104 a share -100 shares of GTE preferred at $25 1/4 a share -20 shares of Boston Edison preferred at $9 1/8 a share What is the weighted arithmetic mean price per share?

The lengths of time (in minutes) several underwriters took to review applications for similar insurance coverage are: 50, 230, 52 and 57. What is the median length of time required to review an application?

What Is Statistics

Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation

A Survey of Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Methods and the Central Limit Theorem

Estimation and Confidence Intervals

One-Sample Tests of Hypothesis

Two-Sample Tests of Hypothesis

Analysis of Variance

Linear Regression and Correlation

Multiple Regression and Correlation Analysis

Chi-Square Applications

Index Numbers

Time Series and Forecasting

An Introduction to Decision Theory

Filters

Exam 3: Describing Data: Numerical Measures

Three persons earn $8 an hour, six earn $9 an hour, and one earns $12 an hour. Find the weighted mean hourly wage.

The printout below is a summary of the average annual earnings of male full time workers in Canada from 1999-2008. Determine the coefficient of variation.

The U.S. Department of Education reported that for the past six years 23, 19, 15, 30, 27 and 25 women received doctorate degrees in computer and information sciences. What is the mean arithmetic annual number of women receiving this degree?

The U.S. Department of Education reported that for the past seven years 4,033, 5,652, 6,407, 7,201, 8,719, 11,154, and 15,121 people received bachelor's degrees in computer and information sciences. What is the arithmetic mean annual number receiving this degree?

Calculate the Software Coefficient of Skewness for the following data: 5 5 7 7 7.

The following printout is a summary of housing prices in Edmonton: What can we determine from this printout?

If a major sports star were to move into your neighbourhood, what would you expect to happen to the neighbourhood's "average" income?

Production of passenger cars in Japan increased from 3.94 million in 1990 to 6.74 million in 2000. What is the geometric mean annual percent increase?

AAA Heating and Air Conditioning completed 30 jobs last month with a mean revenue of $5,430 per job. The president wants to know the total revenue for the month.

A question in a market survey asks for a respondent's favourite car colour. Which measure of central tendency should be used to summarize this question?

A stockbroker placed the following order for a customer: -50 shares of Kaiser Aluminum preferred at $104 a share -100 shares of GTE preferred at $25 1/4 a share -20 shares of Boston Edison preferred at $9 1/8 a share What is the weighted arithmetic mean price per share?

The lengths of time (in minutes) several underwriters took to review applications for similar insurance coverage are: 50, 230, 52 and 57. What is the median length of time required to review an application?

What Is Statistics

Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation

A Survey of Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Methods and the Central Limit Theorem

Estimation and Confidence Intervals

One-Sample Tests of Hypothesis

Two-Sample Tests of Hypothesis

Analysis of Variance

Linear Regression and Correlation

Multiple Regression and Correlation Analysis

Chi-Square Applications

Index Numbers

Time Series and Forecasting

An Introduction to Decision Theory

Filters