Question 1

The mean absolute deviation (MAD)is a less effective measure of variation when compared with the average deviation from the mean.

Accepted Answer

A) True 
 B)False

Question 2

The sample data below shows the number of hours spent by five students over the weekend to prepare for Monday's Business Statistics exam. 3 12 2 3 5.
The mean and the median of the numbers of hours spent by the five students are _______________.

Accepted Answer

A)  2 hours and 5 hours,respectively 
B)  3 hours and 5 hours,respectively 
C)  5 hours and 2 hours,respectively 
D)  5 hours and 3 hours,respectively 
A)  2 hours and 5 hours,respectively 
B)  3 hours and 5 hours,respectively 
C)  5 hours and 2 hours,respectively 
D)  5 hours and 3 hours,respectively

Question 3

A large city in Southern California collected data on education and the unemployment rate for its residents with a survey.The following is the survey data.   a.Calculate the mean unemployment rate for the city.
b.Calculate the sample standard deviation unemployment rate in the city.

Accepted Answer

The sample mean for a frequency distribu

Question 4

The formula for a z-score is

Accepted Answer

A) True 
 B)False

Question 5

Which of the following statements about variance is the most accurate?

Accepted Answer

A)  Variance is the square root of the standard deviation. 
B)  Variance can be both,positive or negative. 
C)  Variance is denominated in the same units as the original data. 
D)  Varianceis the average of the squared deviations from the mean. 
A)  Variance is the square root of the standard deviation. 
B)  Variance can be both,positive or negative. 
C)  Variance is denominated in the same units as the original data. 
D)  Varianceis the average of the squared deviations from the mean.

Question 6

Suppose the average price for new cars in 2012 has a mean of $30,100 and a standard deviation of $5,600.Based on this information,what interval of prices would we expect at least 89% of new car prices to fall within?

Accepted Answer

A)  $24,500 to $35,700 
B)  $18,900 to $41,300 
C)  $13,300 to $46,900 
D)  $7.700 to $52,500 
A)  $24,500 to $35,700 
B)  $18,900 to $41,300 
C)  $13,300 to $46,900 
D)  $7.700 to $52,500

Question 7

Approximately 60% of the observations in a data set fall below the 60th percentile.

Accepted Answer

A) True 
 B)False

Question 8

The standard deviation is the positive square root of the variance.

Accepted Answer

A) True 
 B)False

Question 9

Three investment options are under consideration for inclusion in a mutual fund.Given that the return on a one-year T-bill is 4.5%,use the Sharpe ratio to select the best option.

Accepted Answer

The Sharpe ratio measures extr

Question 10

In what way(s)is(are)the concept of geometric mean useful?

Accepted Answer

A)  In evaluating investment returns 
B)  In calculating average growth rates 
C)  In assessing the dispersion of the data 
D)  Both in evaluating investment returns and in calculating average growth rates 
A)  In evaluating investment returns 
B)  In calculating average growth rates 
C)  In assessing the dispersion of the data 
D)  Both in evaluating investment returns and in calculating average growth rates

Question 11

In a data set,an outlier is a large or small value regarded as an extreme value in the data set.

Accepted Answer

A) True 
 B)False

The mean absolute deviation (MAD)is a less effective measure of variation when compared with the average deviation from the mean.

The sample data below shows the number of hours spent by five students over the weekend to prepare for Monday's Business Statistics exam. 3 12 2 3 5. The mean and the median of the numbers of hours spent by the five students are _______________.

A large city in Southern California collected data on education and the unemployment rate for its residents with a survey.The following is the survey data. a.Calculate the mean unemployment rate for the city. b.Calculate the sample standard deviation unemployment rate in the city.

The formula for a z-score is

Which of the following statements about variance is the most accurate?

Suppose the average price for new cars in 2012 has a mean of $30,100 and a standard deviation of $5,600.Based on this information,what interval of prices would we expect at least 89% of new car prices to fall within?

Approximately 60% of the observations in a data set fall below the 60th percentile.

The standard deviation is the positive square root of the variance.

Three investment options are under consideration for inclusion in a mutual fund.Given that the return on a one-year T-bill is 4.5%,use the Sharpe ratio to select the best option.

In what way(s)is(are)the concept of geometric mean useful?

In a data set,an outlier is a large or small value regarded as an extreme value in the data set.

Statistics and Data

Tabular and Graphical Methods

Basic Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling and Sampling Distributions

Interval Estimation

Hypothesis Testing

Statistical Inference Concerning Two Populations

Statistical Inference Concerning Variance

Chi-Square Tests

Analysis of Variance

Regression Analysis

Inference With Regression Models

Regression Models for Nonlinear Relationships

Regression Models With Dummy Variables

Time Series and Forecasting

Returns, Index Numbers and Inflation

Nonparametric Tests

Filters

Exam 3: Numerical Descriptive Measures

The mean absolute deviation (MAD)is a less effective measure of variation when compared with the average deviation from the mean.

The sample data below shows the number of hours spent by five students over the weekend to prepare for Monday's Business Statistics exam. 3 12 2 3 5. The mean and the median of the numbers of hours spent by the five students are _______________.

A large city in Southern California collected data on education and the unemployment rate for its residents with a survey.The following is the survey data. a.Calculate the mean unemployment rate for the city. b.Calculate the sample standard deviation unemployment rate in the city.

The formula for a z-score is

Which of the following statements about variance is the most accurate?

Suppose the average price for new cars in 2012 has a mean of $30,100 and a standard deviation of $5,600.Based on this information,what interval of prices would we expect at least 89% of new car prices to fall within?

Approximately 60% of the observations in a data set fall below the 60th percentile.

The standard deviation is the positive square root of the variance.

Three investment options are under consideration for inclusion in a mutual fund.Given that the return on a one-year T-bill is 4.5%,use the Sharpe ratio to select the best option.

In what way(s)is(are)the concept of geometric mean useful?

In a data set,an outlier is a large or small value regarded as an extreme value in the data set.

Statistics and Data

Tabular and Graphical Methods

Basic Probability Concepts

Discrete Probability Distributions

Continuous Probability Distributions

Sampling and Sampling Distributions

Interval Estimation

Hypothesis Testing

Statistical Inference Concerning Two Populations

Statistical Inference Concerning Variance

Chi-Square Tests

Analysis of Variance

Regression Analysis

Inference With Regression Models

Regression Models for Nonlinear Relationships

Regression Models With Dummy Variables

Time Series and Forecasting

Returns, Index Numbers and Inflation

Nonparametric Tests

Filters