STRAIGHTERLINE BUSINESS STATS FINAL PAPER
2026 QUESTIONS WITH SOLUTIONS GRADED
A+
◉ The general process of gathering, organizing, summarizing,
analyzing, and interpreting data is called ____________. Answer:
Statistics
◉ The main purpose of descriptive statistics is to. Answer: Summarize
data in a useful and informative manner.
◉ An example of a qualitative variable is _________________. Answer:
Color of ink in a pen
◉ The reported unemployment is 5.5% of the population. What
measurement scale is used to measure unemployment? Answer: interval
or ratio
◉ What level of measurement is the Centigrade temperature scale?
Answer: interval
,◉ A group of women tried five brands of fingernail polish and ranked
them according to preference. What level of measurement is this?
Answer: ordinal
◉ The incomes of 50 loan applicants are obtained. Which level of
measurement is income? Answer: ratio
◉ The members of each basketball team wear numbers on their jerseys.
What scale of measurement are these numbers considered? Answer:
nominal
◉ Respondents were asked, "Do you now earn more than or less than
you did five years ago?" What is this level of measurement? Answer:
ordinal
◉ What type of variable is the number of gallons of gasoline pumped by
a filling station during a day? Answer: Continuous
◉ A portion or part of a population is called a. Answer: sample
◉ The mean, as a measure of central location, would be inappropriate
for which one of the following? Answer: Marital status of college
students at a particular university
, ◉ A bottling company offers three kinds of delivery service: instant,
same day, and within five days. The profit per delivery varies according
to the kind of delivery. The profit for an instant delivery is less than the
other kinds because the driver has to go directly to a grocery store with a
small load and return to the bottling plant. To find out what effect each
type of delivery has on the profit picture, the company summarized the
data in the following table based on deliveries for the previous quarter.
What is the weighted mean profit per delivery? Answer: $97
◉ The times (in minutes) that several underwriters took to review
applications for similar insurance coverage are 50, 230, 52, and 57.
What is the median length of time required to review an application?
Answer: 54.4
◉ A survey item asked students to indicate their class in college:
freshman, sophomore, junior, or senior. Which measure(s) of central
location would be appropriate for the data generated by that
questionnaire item? Answer: mode and median
◉ On a finance exam, 15 accounting majors had an average grade of 90.
On the same exam, 7 marketing majors averaged 85, and 10 finance
majors averaged 93. What is the weighted mean for all 32 students
taking the exam? Answer: 89.84
2026 QUESTIONS WITH SOLUTIONS GRADED
A+
◉ The general process of gathering, organizing, summarizing,
analyzing, and interpreting data is called ____________. Answer:
Statistics
◉ The main purpose of descriptive statistics is to. Answer: Summarize
data in a useful and informative manner.
◉ An example of a qualitative variable is _________________. Answer:
Color of ink in a pen
◉ The reported unemployment is 5.5% of the population. What
measurement scale is used to measure unemployment? Answer: interval
or ratio
◉ What level of measurement is the Centigrade temperature scale?
Answer: interval
,◉ A group of women tried five brands of fingernail polish and ranked
them according to preference. What level of measurement is this?
Answer: ordinal
◉ The incomes of 50 loan applicants are obtained. Which level of
measurement is income? Answer: ratio
◉ The members of each basketball team wear numbers on their jerseys.
What scale of measurement are these numbers considered? Answer:
nominal
◉ Respondents were asked, "Do you now earn more than or less than
you did five years ago?" What is this level of measurement? Answer:
ordinal
◉ What type of variable is the number of gallons of gasoline pumped by
a filling station during a day? Answer: Continuous
◉ A portion or part of a population is called a. Answer: sample
◉ The mean, as a measure of central location, would be inappropriate
for which one of the following? Answer: Marital status of college
students at a particular university
, ◉ A bottling company offers three kinds of delivery service: instant,
same day, and within five days. The profit per delivery varies according
to the kind of delivery. The profit for an instant delivery is less than the
other kinds because the driver has to go directly to a grocery store with a
small load and return to the bottling plant. To find out what effect each
type of delivery has on the profit picture, the company summarized the
data in the following table based on deliveries for the previous quarter.
What is the weighted mean profit per delivery? Answer: $97
◉ The times (in minutes) that several underwriters took to review
applications for similar insurance coverage are 50, 230, 52, and 57.
What is the median length of time required to review an application?
Answer: 54.4
◉ A survey item asked students to indicate their class in college:
freshman, sophomore, junior, or senior. Which measure(s) of central
location would be appropriate for the data generated by that
questionnaire item? Answer: mode and median
◉ On a finance exam, 15 accounting majors had an average grade of 90.
On the same exam, 7 marketing majors averaged 85, and 10 finance
majors averaged 93. What is the weighted mean for all 32 students
taking the exam? Answer: 89.84
