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Q:
Which percentile describes the third quartile, Q3?
A. 25th
B. 50th
C. 75th
D. 100th
Q:
Which percentile describes the first quartile, Q1?
A. 25th
B. 50th
C. 75th
D. 100th
Q:
All of the following are measures of central tendency except the ____________.
A. range
B. mode
C. mean
D. median
Q:
A normal population has 99.73 percent of the population measurements within __________ standard deviation(s) of the mean.
A. 1
B. 2
C. 3
D. 4
Q:
The ending value of an initial investment can be calculated using weighted means.
Q:
When calculating the geometric mean, a quantity of 1 is added to the nth root of the product (1 + R1)(1 + R2) . . . (1 + Rn).
Q:
The geometric mean is the rate of change that yields better wealth at the end of a set of time periods than the actual returns.
Q:
In the calculation of a mean for grouped data, we assume that the average of the measurements in each class equals the class midpoint.
Q:
Data summarized in a frequency distribution or histogram form are often called weighted data.
Q:
The weights that are used in calculating a weighted mean will vary depending on the situation.
Q:
The line that minimizes the sum of the squared horizontal (x) distances between the points on the scatter plot and the line is the least squares line.
Q:
A correlation coefficient close to −1 says x and y are highly related.
Q:
Z-score is often used as a measure of risk.
Q:
Chebyshev's Theorem is only of practical use when analyzing a non-mound-shaped population that is not very skewed.
Q:
The pth percentile is a value such that (100−p) percent of the measurements fall at or below the value.
Q:
The mean is one component of the five-number summary.
Q:
Range is a better measure of variation than standard deviation.
Q:
If there are seven classes in a frequency distribution, then the fourth class will always contain the median.
Q:
The median is the value below which and above which approximately 50 percent of the measurements lie.
Q:
It is appropriate to use the Empirical Rule to describe a population that is extremely skewed.
Q:
In a symmetric population, the median equals the mode.
Q:
The population variance is the average of the squared deviations of the individual population measurements from the population mean.
Q:
The range of the measurement is the largest measurement plus the smallest measurement.
Q:
The median is said to be resistant to extreme values.
Q:
The population mean is the point estimate of the sample mean.
Q:
The mode is the measurement in a sample or population that occurs most frequently.
Q:
The population mean is the average of the population measurements.
Q:
The median is the measure of central tendency that divides a population or sample into four equal parts.
Q:
Interpret a lift ratio of 1.111.
Q:
Interpret a lift ratio of .9259.
Q:
Following a factor analysis of 15 personality characteristic ratings of politicians by a random sample of 40,000 registered voters, the following table of the first 7 factors and their corresponding eigenvalues and percentage of explained variation was produced. Which factors should an analyst choose when defining the characteristics of politicians?
Q:
A manufacturer of Product X has developed a model for predicting monthly sales of their product based on the sales from the same month of the previous year and the forecasted average daily temperature for the month. Using the regression tree below based on a random sample of 30 observations predict sales for a future where the previous year's monthly sales were $21.2 million dollars and the forecasted average daily temperature for the month will be 45 degrees.
Q:
A manufacturer of Product X has developed a model for predicting monthly sales of their product based on the sales from the same month of the previous year and the forecasted average daily temperature for the month. Using the regression tree below based on a random sample of 30 observations, predict sales for a future where the previous year's monthly sales were $15 million dollars and the forecasted average daily temperature for the month will be 45 degrees.
Q:
A local grocery market is studying whether to offer a loyalty program to its customers. In its final analyses the following groups are being used to categorize loyalty card customers: family income and number of children. Using the classification tree below, estimate the percentage of customers with an income of $50,000 with 2 children who would use a loyalty card
Q:
The rate of return for each of the past four years on a market fund are R1 = 2.4%, R2 = 1.0%, R3 = -3.2%, and R4 = 0.5%. Find the geometric mean rate of return.
Q:
Suppose that annual sales for a company were $3.6 million at the beginning of a three-year period and at the end had increased to $6.1 million. Find the geometric growth rate of sales.
Q:
The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent. Annual sales in 2005 were $14.2 million. Find the ending value of sales after this four-year period.
Q:
At the end of 2007, the IRA owned by Joe Smith had a value of $1.2 million. With a rate of return of -29.75 percent in 2008 and a rate of return of 2.98 percent in 2009, calculate the geometric mean rate of return for the two-year period.
Q:
An initial investment of $10,000 has a value of $7,382 at the end of year 1, a rate of return of 62.43 percent for year 2, and a geometric mean return at the end of year 3 of 0.512. Determine the rate of return for the third year.
Q:
An initial investment of $10,000 has a value of $7,382 at the end of year 1. What is the rate of return for the first year?
Q:
An initial investment of $10,000 is observed over 3 years with a geometric mean return at the end of year 3 of 0.512. Determine the value of the investment after 3 years.
Q:
Find the weighted mean per capita income for the following random sample of six cities in the Midwest.
Q:
A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company. From survey data gathered two years ago, the researchers found the following table. Calculate the average age to give to the CEO.
Q:
A real estate appraiser is gathering housing sales data by street in the neighborhood in preparation for his next job. Listed below are the six streets and the average sales price and the houses sold in the last 12 months. Calculate the mean sales price for the neighborhood.
Q:
A random sample of 60 students in the business statistics course answered a survey on the average number of hours they spent on statistics each week. Unfortunately, the original data were lost and all that remains is the frequency table below. From these data, calculate the estimated sample standard deviation.
Q:
A random sample of 60 students in the business statistics course answered a survey on the average number of hours they spent on statistics each week. Unfortunately, the original data were lost and all that remains is the frequency table below. From these data, calculate the estimated sample mean.
Q:
Using grouped data of 14 classes with a sample mean of 51 and a sample variance of 6.42, calculate the group sampled standard deviation.
Q:
From the following table of values and corresponding sample sizes, calculate the weighted mean.
Q:
In an analysis of the relationship between the average weekly temperature in a major city and the per person consumption of ice cream (pints), a least squares line is defined by the equation 5.72 + .004x. Predict the average amount of ice cream consumed when it is 50 outside.
Q:
In a study of employee stock ownership plans, data were collected at seven companies on satisfaction with the plan and the amount of organization commitment.It can be shown that for these dataCalculate b1.
Q:
In a study of employee stock ownership plans, data were collected at seven companies on satisfaction with the plan and the amount of organization commitment.It can be shown that for these data:Calculate b1.A. 0.15B. 0.11C. 0.39D. -0.39E. -0.11
Q:
In a study of the factors that affect success in economics, data were collected for 8 business students. Scores on a calculus placement test are given with economics final exam scores. The data are below.It can be shown that for these data:Calculate the sample correlation coefficient.A. 0.15B. 0.11C. 0.39D. -0.39E. -0.11
Q:
In a study of the factors that affect success in economics, data were collected for 8 business students. Scores on a calculus placement test are given with economics final exam scores. The data are below:It can be shown that for these data:Calculate the sample covariance.A. 0.12B. -0.12C. -0.36D. -0.34E. 0.34
Q:
Researchers wish to study fuel consumption rates based on speed. The data from 10 cars are below.It can be shown that for these data:Calculate the sample correlation coefficient.A. 0.12B. -0.12C. -0.36D. -0.34E. 0.34
Q:
Researchers wish to study fuel consumption rates based on speed. The data from the test car at 10 speeds are below.It can be shown that for these data:Calculate b1.
Q:
Researchers wish to study fuel consumption rates based on speed. The data from the test car at 10 speeds are below.It can be shown that for these data:Calculate the sample covariance.A. -270.2B. -30.02C. -27.02D. -74.58E. -82.86
Q:
The Rivertown city council is attempting to choose one of four sites (A, B, C, or D) as the location for its new emergency facility. After the new emergency facility becomes available for service, the current emergency facility will be shut down. The project manager has estimated the following response times in minutes from each of the proposed sites to the four areas that must be served by the emergency facility. The number of emergency runs from the current emergency facility to each of the four areas over the past year is as follows: Compute the weighted mean response time from the proposed locations and determine which proposed site should be selected for the new emergency facility.
A. site A
B. site B
C. site C
D. site D
Q:
Personnel managers usually want to know where a job applicant ranked in his or her graduating class. With a grade point average of 3.83, Michelle Robinson graduated above the 93rd percentile of her graduating class. What is the percentile rank of a student whose GPA was the median GPA.
A. 25th
B. 50th
C. 75th
D. 10th
E. 93rd
Q:
The following frequency table summarizes the ages of 60 shoppers at the local grocery store. The sample mean for the above frequency table is calculated as 36.25. Calculate the approximate sample standard deviation for this data set.
A. 181.08
B. 184.15
C. 26.83
D. 13.46
E. 13.57
Q:
Suppose that a company's annual sales were $1,200,000 in 1999. The annual growth rate of sales from 1999 to 2000 was 16 percent, from 2000 to 2001 it was -5 percent, and from 2001 to 2002 it was 22 percent.The geometric mean growth rate of sales over this three-year period is calculated as 10.37 percent. Use the geometric mean growth rate and determine the forecasted sales for 2004.A. 1,780,678B. 1,200,014C. 1,965,337D. 1,613,371E. 1,422,197
Q:
The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002. The annual percentage growth rate of the P/E ratios is also calculated and given below.Calculate the geometric mean growth rate increase or decrease over the period from 1998 to 2002.A. -.2592B. -.1397C. -.1816D. .8616E. .7417
Q:
The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002.Determine the percentage change in the P/E ratios from 1999 to 2000.A. 23.97%B. 31.53%C. 27.26%D. -31.53%E. -23.97%
Q:
The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002.Determine the percentage change in the P/E ratios from 1998 to 1999.A. 15.07%B. 17.74%C. 20.72%D. -17.74%E. -15.07%
Q:
The average life of Canadian women is 73.75 years, and the standard deviation of the life expectancy of Canadian women is 6.5 years. Based on Chebyshev's Theorem, determine the upper and lower bounds on the average life expectancy of Canadian women such that at least 90 percent of the population is included.
A. [12.09 135.41]
B. [8.75 138.75]
C. [53.20 94.30]
D. [66.38 81.13]
E. [67.25 80.25]
Q:
The average life of Canadian women is 73.75 years, and the standard deviation of the life expectancy of Canadian women is 6.5 years. Using Chebyshev's Theorem, determine the minimum percentage of women in Canada whose life expectancy is between 64 and 83.5 years.
A. 93.17%
B. 68.26%
C. 55.56%
D. 88.89%
E. 33.33%
Q:
The average lateness for one of the top airline companies is 10 minutes. The variance of the lateness measure is calculated as 9. An airplane arrived 13 minutes after the stated arrival time. Calculate the z-score for the lateness of this particular airplane.
A. 0.33
B. 0.58
C. 1.33
D. 0.44
E. 1.00
Q:
Compute the sample standard deviation of the data set 6,4,2,1,4,1.
A. 1.83
B. 2.00
C. 1.41
D. 3.33
E. 4.00
Q:
If the median of a data set is 760, the upper quartile is 950, and the lower quartile is 650, what is the interquartile range?
A. 300
B. 190
C. 110
D. 150
E. 910
Q:
Compute the population variance of these data: 16,18,23,21,17,16,24,23,9,17,11,16,22,10,15,14.
A. 21.9
B. 3.87
C. 20.5
D. 17.0
E. 3.625
Q:
The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes).
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
What are the lower and upper limits?
A. 80.5, 154.00
B. 108.5, 128.5
C. 127.75, 138.25
D. 80.5, 154.00
E. 143.50, 154.00
Q:
The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes).
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
What is the IQR?
A. 103
B. 5
C. 28
D. 30
E. 7
Q:
The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes).
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
What is the 65th percentile?
A. 99
B. 120
C. 130
D. 112
E. 45
Q:
The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes).
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
What is the 10th percentile?
A. 99
B. 120
C. 130
D. 112
E. 45
Q:
The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes).
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
What is the first quartile?
A. 100.8
B. 118
C. 130
D. 116
E. 45
Q:
The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes).
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
What is the third quartile?
A. 100.8
B. 118
C. 130
D. 112
E. 121
Q:
The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes).
118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118
What is the 90th percentile?
A. 100.8
B. 118
C. 130
D. 112
E. 45
Q:
The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. She took a random sample of the price of 10 computers, with the following results.
$3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000
What are the lower and upper limits?
A. 2541, 3903
B. 2768, 3676
C. 2087, 4357
D. 2314, 4130
E. 1633, 2087
Q:
The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. She took a random sample of the price of 10 computers, with the following results.
$3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000
What is the IQR?
A. 681
B. 454
C. 1362
D. 255
E. 6120
Q:
The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. She took a random sample of the price of 10 computers, with the following results.
$3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000
What is the 65th percentile?
A. $1,446.50
B. $2,617.00
C. $3,445.00
D. $3,587.00
E. $4,212.00
Q:
The company financial officer was interested in the average cost of PCs that had been purchased in the past six months. She took a random sample of the price of 10 computers, with the following results.
$3,250, $1,127, $2,995, $3,250, $3,445, $3,449, $1,482, $6,120, $3,009, $4,000
What is the 10th percentile?
A. $1,304.50
B. $2,617.00
C. $3,415.75
D. $3,587.00
E. $4,212.00