ch 3 bus stats Actual Exam With Correct Detailed Answers.

if two groups of numbers have the same mean, then - correct answer other measures of location need not be the same. the geometric mean of 3,5 and 6 is - correct answer 4.48 (3)(5)(6)=90 cube root of 90= 4.48 the value which has half the observations above it and half the observations above it is called the - correct answer median from a population size of 500, a random sample of 50 items is selected. the mode of the sample - correct answer can be larger, smaller, or equal to the mode of the population The closing stock price of MNM Corporation for the last 7 trading days is shown below. Day Stock Price 1 24 2 27 3 24 4 28 5 25 6 30 7 31 The mode is - correct answer 24 when computing the mean, the smallest value - correct answer can be any value which of the following symbols represents the mean of the population? - correct answer ,u A mean computed in such a way that each data value is given a weight reflecting its importance is referred to as - correct answer weighted mean the mean of the sample - correct answer can assume any value between the highest and the lowest value in the sample. the 75th percentile is referred to as the _______ quartile - correct answer third the measure of dispersion which is not measured in the same units as the original data is - correct answer variance the symbol 0^2 is used to represent the - correct answer variance of the population which of the following descriptive statistics is not measured in the same units as the data - correct answer variance the measure of variability easiest to compute, but seldom used as the only measure, is the - correct answer range the coefficient of variation indicates how large the standard deviation is relative to the - correct answer mean the symbol 0 is used to represent the - correct answer the standard deviation of the population When the data are skewed to the right, the measure of Skewness will be - correct answer positive the percentage of data values that must be within one, two, and three standard deviations of the mean for data having a bell-shaped distribution can be determined using - correct answer the empirical rule in a box plot, data value x is considered an outlier if - correct answer x Q1- 1.5 (IQR) or xQ3+ 1.5(IQR) which of the following is not a measure of variability of a single variable - correct answer covariance growth factors for a population of Atlanta in the past 5 years have been 1,2,3,4, and 5. the geometric mean is - correct answer 5th root of 120 (1)(2)(3)(4)(5)=120 geometric mean is a measure of - correct answer location the first quartile is the same as the - correct answer 25th percentile which of the following provides a measure of central tendency for the data - correct answer mean The closing stock price of MNM Corporation for the last 7 trading days is shown below. Day Stock Price 1 24 2 27 3 24 4 28 5 25 6 30 7 31 The mean is - correct answer 27 The closing stock price of MNM Corporation for the last 7 trading days is shown below. Day Stock Price 1 24 2 27 3 24 4 28 5 25 6 30 7 31 The variance is - correct answer 6.428 The hourly wages of a sample of 130 system analysts are given below. mean = 60 range = 20 mode = 73 variance = 324 median = 74 The coefficient of variation equals - correct answer 30% s= square root of s^2 s= square root of 324 s=18 18/60x 100%= 30% which of the following symbols represents the variance of the population - correct answer 0^2 the variance of a sample of 100 observations equals 64. the standard deviation of the sample equals - correct answer 8 s^2= 64 s=square root of 64 s=8 the standard deviation of a sample of 81 observations equals 49. the variance of the sample equals - correct answer 2401 49^2=2401 which of the following is a measure of variability? - correct answer interquartile range If the data distribution is symmetric, the skewness is - correct answer 0 the ________ can be interpreted as the number of standard deviations a data value is from the mean of all the data values - correct answer z-score in a five number summary, which of the following is not used for data summarization - correct answer the mean the correlation coefficient ranges between - correct answer -1 and +1 the measure of location which is most likely to be influenced by extreme values in the data set is the - correct answer mean the pth percentile is a value such that approximately - correct answer p percent of the observations are less than the value and (100-p) percent are more than this value the median of the sample will always equal the - correct answer 50th percentile which of the following symbols represents the size of the sample - correct answer n the median is a measure of - correct answer central location