Question 1

The following is data a veterinarian collected from some of her clients.It is a rough estimate of a dog's weight and how long the dog lived.

Accepted Answer

The answer of The following is data a veterinarian collected...

Question 2

In an accounting class of 200 students,the mean and standard deviation of scores was 70 and 5,respectively.Use the empirical rule to determine the number of students who scored less than 65 or more than 75.

Accepted Answer

A)  It is about 32. 
B)  It is about 64. 
C)  It is about 68. 
D)  It is about 136.

Question 3

The following data represents the actual talk time,in hours,for the iPhone for 11 users. 25.1 19.1 21.6 9.5 20.3 18.0 24.6 25.2 21.9 29.7 28.5
What percentile is the talk time of 21.6 hours?

Accepted Answer

A)  41st 
B)  49th 
C)  54th 
D)  58th

Question 4

Amounts spent by a sample of 50 customers at a retail store are summarized in the following relative frequency distribution.  The median amount will fall in the following class interval _____________.

Accepted Answer

A)  0 up to 10 
B)  10 up to 20 
C)  20 up to 30 
D)  30 up to 40

Question 5

Professors at a local university earn an average salary of $80,000 with a standard deviation of $6,000.The salary distribution is approximately bell-shaped.What can be said about the percentage of salaries that are at least $74,000?

Accepted Answer

A)  It is about 68%. 
B)  It is about 84%. 
C)  It is about 95%. 
D)  It is about 97.5%.

Question 6

The mean starting salary of recent business graduates at a university is $52,000 with a standard deviation of $16,000.The distribution of starting salaries is unknown.
a.What proportion of business graduates has a starting salary between $20,000 and $84,000.
b.Suppose 600 business graduates from this university got hired.How many of them started with a salary between $20,000 and $84,000?

Accepted Answer

The answer of The mean starting salary of recent business...

Question 7

What is an advantage of the correlation coefficient over the covariance?

Accepted Answer

A)  It falls between 0 and 1. 
B)  It falls between -1 and 1. 
C)  It is a unit-free measure,therefore making it easier to interpret. 
D)  Both answers-that it falls between -1 and 1 and that it is a unit-free measure-are correct.

Question 8

The annual returns (in percent)for a sample of stocks in the technology industry over the past year are as follows: 4.2 -9.4 2.8 -16.0 -6.6.
The sample standard deviation is the closest to _____.

Accepted Answer

A)  7.59 
B)  8.49 
C)  57.61 
D)  72.01

Question 9

The Sharpe ratio measures______________________________________.

Accepted Answer

A)  the extra reward per unit of risk 
B)  the extra risk per unit of reward 
C)  the increase in mean per unit of risk 
D)  the extra variance per unit of reward

Question 10

When interpreting the covariance between variables x and y,which of the following statements is the most accurate?

Accepted Answer

A)  A negative value of covariance that,on average,if x is below its mean,then y tends to be below its mean. 
B)  A positive value of covariance indicates that,on average,if x is above its mean,then y tends to be above its mean. 
C)  A positive value of covariance indicates that,on average,if x is above its mean,then y tends to be below its mean. 
D)  A negative value of covariance indicates that,on average,if x is above its mean,then y tends to be above its mean.

Question 11

Professors at a local university earn an average salary of $80,000 with a standard deviation of $6,000.The salary distribution is approximately bell-shaped.Because of budget limitations,it has been decided that only those whose salaries are approximately in the bottom 2.5% would get a raise.What is the maximum current salary that qualifies for the raise?

Accepted Answer

A)  It is about $58,000. 
B)  It is about $62,000. 
C)  It is about $68,000. 
D)  It is about $74,000.

Question 12

The terms central location or central tendency refer to the way quantitative data tend to cluster around some middle or central value.

Accepted Answer

A) True 
 B)False

Question 13

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 75th percentile of the data is the closest to _________.

Accepted Answer

A)  3 hours 
B)  4.5 hours 
C)  8.5 hours 
D)  10 hours

Question 14

The data shows operating expenses (in Millions)for British Petroleum for the years 2008 through 2010.  a.Use the growth rates from 2008-2009 and 2009-2010 to calculate the average growth rate.
b.Calculate the average growth rate directly from sales.

Accepted Answer

The answer of The data shows operating expenses (in Millions)for...

Question 15

The variance and standard deviation are the most widely used measures of central location.

Accepted Answer

A) True 
 B)False

Question 16

Automobiles traveling on a road with a posted speed limit of 65 miles per hour are checked for speed by a state police radar system.The following is a frequency distribution of speeds.The following frequency distribution represents the number of hours studied per week by a sample of 50 students.  The mean speed of the automobiles traveling on this road is the closest to ____.

Accepted Answer

A)  55.0 
B)  57.8 
C)  64.1 
D)  65.0

Question 17

Chebyshev's theorem is only applicable for sample data.

Accepted Answer

A) True 
 B)False

Question 18

The coefficient of variation is best described as ___________________________________.

Accepted Answer

A)  a relative measure of dispersion 
B)  an absolute measure of dispersion 
C)  a relative measure of central location 
D)  an absolute measure of central location

Question 19

Consider a population with data values of 12 8 28 22 12 30 14.
The median is ____.

Accepted Answer

A)  12 
B)  14 
C)  18 
D)  22

Question 20

What does the covariance measure?

Accepted Answer

A)  The direction of a linear relationship between two variables. 
B)  The direction of a curvilinear relationship between two variables. 
C)  The direction of a linear relationship between two or more variables. 
D)  The direction of a curvilinear relationship between two or more variables.

Exam 3: Numerical Descriptive Measures

The following is data a veterinarian collected from some of her clients.It is a rough estimate of a dog's weight and how long the dog lived.

In an accounting class of 200 students,the mean and standard deviation of scores was 70 and 5,respectively.Use the empirical rule to determine the number of students who scored less than 65 or more than 75.

The following data represents the actual talk time,in hours,for the iPhone for 11 users. 25.1 19.1 21.6 9.5 20.3 18.0 24.6 25.2 21.9 29.7 28.5 What percentile is the talk time of 21.6 hours?

Amounts spent by a sample of 50 customers at a retail store are summarized in the following relative frequency distribution. The median amount will fall in the following class interval _____________.

Professors at a local university earn an average salary of $80,000 with a standard deviation of $6,000.The salary distribution is approximately bell-shaped.What can be said about the percentage of salaries that are at least $74,000?

What is an advantage of the correlation coefficient over the covariance?

The annual returns (in percent) for a sample of stocks in the technology industry over the past year are as follows: 4.2 -9.4 2.8 -16.0 -6.6. The sample standard deviation is the closest to _____.

The Sharpe ratio measures______________________________________.

When interpreting the covariance between variables x and y,which of the following statements is the most accurate?

The terms central location or central tendency refer to the way quantitative data tend to cluster around some middle or central value.

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 75^th percentile of the data is the closest to _________.

The data shows operating expenses (in Millions)for British Petroleum for the years 2008 through 2010. a.Use the growth rates from 2008-2009 and 2009-2010 to calculate the average growth rate. b.Calculate the average growth rate directly from sales.

The variance and standard deviation are the most widely used measures of central location.

Chebyshev's theorem is only applicable for sample data.

The coefficient of variation is best described as ___________________________________.

Consider a population with data values of 12 8 28 22 12 30 14. The median is ____.

What does the covariance measure?

Exam 3: Numerical Descriptive Measures

The following is data a veterinarian collected from some of her clients.It is a rough estimate of a dog's weight and how long the dog lived.

In an accounting class of 200 students,the mean and standard deviation of scores was 70 and 5,respectively.Use the empirical rule to determine the number of students who scored less than 65 or more than 75.

The following data represents the actual talk time,in hours,for the iPhone for 11 users. 25.1 19.1 21.6 9.5 20.3 18.0 24.6 25.2 21.9 29.7 28.5 What percentile is the talk time of 21.6 hours?

Amounts spent by a sample of 50 customers at a retail store are summarized in the following relative frequency distribution. The median amount will fall in the following class interval _____________.

Professors at a local university earn an average salary of $80,000 with a standard deviation of $6,000.The salary distribution is approximately bell-shaped.What can be said about the percentage of salaries that are at least $74,000?

What is an advantage of the correlation coefficient over the covariance?

The annual returns (in percent) for a sample of stocks in the technology industry over the past year are as follows: 4.2 -9.4 2.8 -16.0 -6.6. The sample standard deviation is the closest to _____.

The Sharpe ratio measures______________________________________.

When interpreting the covariance between variables x and y,which of the following statements is the most accurate?

The terms central location or central tendency refer to the way quantitative data tend to cluster around some middle or central value.

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 75th percentile of the data is the closest to _________.

The data shows operating expenses (in Millions)for British Petroleum for the years 2008 through 2010. a.Use the growth rates from 2008-2009 and 2009-2010 to calculate the average growth rate. b.Calculate the average growth rate directly from sales.

The variance and standard deviation are the most widely used measures of central location.

Chebyshev's theorem is only applicable for sample data.

The coefficient of variation is best described as ___________________________________.

Consider a population with data values of 12 8 28 22 12 30 14. The median is ____.

What does the covariance measure?

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 75^th percentile of the data is the closest to _________.