Deck 3: Describing, Displaying, and Visualizing Quantitative Data

Question 1

Consider the five number summary of hourly wages ($) for a sample of advertising / promotion managers.

Suppose there had been an error and that the lowest hourly wage was $15.50 instead of $19.64.This would result in ________________________ .

A)an increase in the median
B)an increase in the standard deviation
C)a decrease in the range
D)a decrease in the IQR
E)an increase in the mean

Answer 1

an increase in the standard deviation

Question 2

Consider the five number summary of hourly wages ($) for a sample of sales managers.Suppose the mean hourly wage is $38.50.What can we say about the shape of the distribution?

A)The distribution of hourly wages for sales managers is symmetric.
B)The distribution of hourly wages for sales managers is skewed right.
C)The distribution of hourly wages for sales managers is skewed left.
D)The distribution of hourly wages for sales managers is bimodal.
E)None of the above.

Answer 2

The distribution of hourly wages for sales managers is skewed left.

Question 3

The following table shows total assets ($ billion) for a small sample of U.S.banks.

The standard deviation for these data is ________________________ .

A)$12.78 billion
B)$ 11.27 billion
C)$ 127.01 billion
D)$ 21.67 billion
E)$ 34 billion

Answer 3

$ 11.27 billion

Question 4

The following table shows data for total assets ($ billion) for a small sample of U.S.banks (late 2013).

The mean for the total assets data ($ billion) is ________________________ .

A)$78.3
B)$56.3
C)$85.6
D)$120.5
E)$42.4

Question 5

The following boxplots show monthly sales revenue figures ($ thousands) for a discount office supply company with locations in three different regions of the U.S.(Northeast, Southeast, and West).Which of the following statements is true?

A)The Northeast has the lowest mean sales revenue.
B)The Southeast has the lowest median sales revenue.
C)The West has the lowest mean sales revenue.
D)The West has the lowest median sales revenue.
E)None of the above.

Question 6

The following table shows representative recent closing share prices for a small sample of companies based in India in late 2013.

The standard deviation in closing share prices is ________________________ .

A)$81.6
B)$25.8
C)$36.6
D)$62.7
E)$67.6

Question 7

Consider the five number summary of hourly wages ($) for a sample of sales managers.

The IQR for these data is ________________________ .

A)$11.70
B)$46.17
C)$67.11
D)$20.94
E)$44.77

Question 8

The following boxplots show monthly sales revenue figures ($ thousands) for a discount office supply company with locations in three different regions of the U.S.(Northeast, Southeast, and West).Which of the following statements is false?

A)The West has the most variable sales revenues.
B)The West has the largest IQR.
C)The Southeast has the smallest IQR.
D)The Northeast has the most variable sales revenues.
E)The Southeast has the least variable sales revenues.

Question 9

The following table shows total assets ($ billion) for a small sample of U.S.banks.

The mean for these data is ________________________ .

A)$ 80.25 billion
B)$ 100.35 billion
C)$ 75.68 billion
D)$ 84 billion
E)$ 89 billion

Question 10

Below is a histogram of salaries (in $) for a sample of U.S.marketing managers.

The shape of this distribution is ________________________ .

A)symmetric
B)bimodal
C)right skewed
D)left skewed
E)normal

Question 11

Below is a histogram of salaries (in $) for a sample of U.S.marketing managers.

The most appropriate measure of central tendency for these data is the ________________________ .

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

Question 12

Consider the five number summary of hourly wages ($) for a sample of sales managers.

The range for these data is ________________________ .

A)$11.70
B)$46.17
C)$67.11
D)$20.94
E)$44.77

Question 13

The following table shows representative recent closing share prices in late 2013 for a small sample of companies based in India.

The z score for the share price for ABC Paper is ________________________ .

A)2.76
B)0.47
C)-2.76
D)-1.49
E)-0.47

Question 14

Here is the five number summary for salaries of U.S.marketing managers.

The IQR is ________________________ .

A)$83,060
B)$22.057
C)$69,693
D)$77.020
E)$14,566

Question 15

The following table shows total assets ($ billion) for a small sample of U.S.banks.

The z- score for the total assets of Fifth Third Bank is ________________________ .

A)1.25
B)-1.25
C)-2.5
D)1.97
E)-1.97

Question 16

The ASQ (American Society for Quality) regularly conducts a salary survey of its membership, primarily quality management professionals.Based on the most recently published mean and standard deviation, a quality control specialist calculated the z-score associated with his own salary and found it was -2.50.This tells him that his salary ________________________ .

A)2 and a half times more than the average salary
B)2 and a half times less than the average salary
C)is 2.5 standard deviations above the average salary
D)is 2.5 standard deviations below the average salary
E)much higher than the average salary