Exam 3: Descriptive Statistics: Numerical Measures

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The following data represent the daily demand (y in thousands of units) and the unit price (x in dollars) for a product. The following data represent the daily demand (y in thousands of units) and the unit price (x in dollars) for a product.     a.Compute and interpret the sample covariance for the above data. b.Compute and interpret the sample correlation coefficient. a.Compute and interpret the sample covariance for the above data. b.Compute and interpret the sample correlation coefficient.

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The coefficient of variation indicates how large the standard deviation is relative to the

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After the data has been arranged from smallest value to largest value, the value in the middle is called the

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Exhibit 3-2 A researcher has collected the following sample data. The mean of the sample is 5. Exhibit 3-2 A researcher has collected the following sample data. The mean of the sample is 5.    -Refer to Exhibit 3-2. The standard deviation is -Refer to Exhibit 3-2. The standard deviation is

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A(n) __________ is an unusually small or unusually large data value.

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Consider the data in the following frequency distribution. Assume the data represent a population. Consider the data in the following frequency distribution. Assume the data represent a population.   For the above data, compute the following. A)The mean B)The variance C)The standard deviation For the above data, compute the following. A)The mean B)The variance C)The standard deviation

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Positive values of covariance indicate

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The sample variance

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The variance of a sample of 81 observations equals 64. The standard deviation of the sample equals

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The amount of time that a sample of students spends watching television per day is given below. The amount of time that a sample of students spends watching television per day is given below.     a.Compute the mean. b.Compute the median. c.Compute the standard deviation. d.Compute the 75th percentile. a.Compute the mean. b.Compute the median. c.Compute the standard deviation. d.Compute the 75th percentile.

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Which of the following symbols represents the mean of the population?

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The interquartile range is

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A sample of 11 individuals shows the following monthly incomes. A sample of 11 individuals shows the following monthly incomes.     a.What would be a representative measure of central location for the above data? Explain. b.Determine the mode. c.Determine the median. d.Determine the 60th percentile. e.Drop the income of individual number 11 and compute the standard deviation for the first 10 individuals. a.What would be a representative measure of central location for the above data? Explain. b.Determine the mode. c.Determine the median. d.Determine the 60th percentile. e.Drop the income of individual number 11 and compute the standard deviation for the first 10 individuals.

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If the data distribution is symmetric, the skewness is

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Excel's __________ function can be used to compute the sample standard deviation.

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A numerical measure, such as a mean, computed from a population is known as a

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The value of the sum of the squared deviations from the mean, i.e., The value of the sum of the squared deviations from the mean, i.e.,   must always be must always be

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The following data show the yearly salaries of eight high school football coaches. The following data show the yearly salaries of eight high school football coaches.    For the above sample, determine the following measures.  a.The mean yearly salary b.The standard deviation c.The mode d.The median e.The 70th percentile For the above sample, determine the following measures. a.The mean yearly salary b.The standard deviation c.The mode d.The median e.The 70th percentile

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The following frequency distribution shows the ACT scores of a sample of students: The following frequency distribution shows the ACT scores of a sample of students:   For the above data, compute the following. A)The mean B)The standard deviation For the above data, compute the following. A)The mean B)The standard deviation

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In a five-number summary, which of the following is not used for data summarization?

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