E370 (1-3) Exam UPDATED QUESTIONS
AND CORRECT ANSWERS
The Graduate Management Admission Test (GMAT) is a standardized test used by schools to
determine the aptitude of individuals who are applying for MBA programs. The range of the
GMAT score is 200-800. Ryan has recently taken the exam and scored 780. This is an
example of interval data. - CORRECT ANSWER interval
A population consists of - CORRECT ANSWER all items of interest in a study
What is the scale of measurement of the distance between any two locations? - CORRECT
ANSWER Ratio
The following distribution shows the frequency of daily revenue for an Italian restaurant in
Bloomington.
Revenue Frequency
Under $2,000 10
$2,000 to under $4,000 18
$4,000 to under $6,000 26
$6,000 to under $8,000 8
$8,000 to under $10,000 14
Over $10,000 4 - CORRECT ANSWER
How many business days does this frequency distribution represent? - CORRECT
ANSWER 80
What is the probability that a randomly selected day will generate under $4,000 in revenue? -
CORRECT ANSWER .35
The following chart shows the percentage of adults from various countries who admitted to
texting while driving in a recent survey. - CORRECT ANSWER Bar graph
, The sum of squared deviation of a sample of 5 elements is determined to be 400. The
variance of the population - CORRECT ANSWER can be any value greater than zero
The following table shows a frequency distribution of the number of MacBook Air laptops
sold per day at a particular Best Buy.
Number of Laptops Frequency
07
15
23
32
44
53
What is the mean number of MacBook Air laptops sold per day? - CORRECT
ANSWER 4
Which one of the following statements is true for a right-skewed distribution? - CORRECT
ANSWER The mean is greater than the median.
In the last week, Tesla stock price dived and its daily returns were below zero (ranging from -
10% to -5%). The standard deviation of the Nikola stock daily returns last week - CORRECT
ANSWER must be positive
According to the Insurance Research Council in 2020, 20% of U.S. drivers are uninsured. A
random sample of seven drivers was selected. - CORRECT ANSWER Exhibit
What is the probability that four or more of these drivers are insured? - CORRECT
ANSWER 0.9667
AND CORRECT ANSWERS
The Graduate Management Admission Test (GMAT) is a standardized test used by schools to
determine the aptitude of individuals who are applying for MBA programs. The range of the
GMAT score is 200-800. Ryan has recently taken the exam and scored 780. This is an
example of interval data. - CORRECT ANSWER interval
A population consists of - CORRECT ANSWER all items of interest in a study
What is the scale of measurement of the distance between any two locations? - CORRECT
ANSWER Ratio
The following distribution shows the frequency of daily revenue for an Italian restaurant in
Bloomington.
Revenue Frequency
Under $2,000 10
$2,000 to under $4,000 18
$4,000 to under $6,000 26
$6,000 to under $8,000 8
$8,000 to under $10,000 14
Over $10,000 4 - CORRECT ANSWER
How many business days does this frequency distribution represent? - CORRECT
ANSWER 80
What is the probability that a randomly selected day will generate under $4,000 in revenue? -
CORRECT ANSWER .35
The following chart shows the percentage of adults from various countries who admitted to
texting while driving in a recent survey. - CORRECT ANSWER Bar graph
, The sum of squared deviation of a sample of 5 elements is determined to be 400. The
variance of the population - CORRECT ANSWER can be any value greater than zero
The following table shows a frequency distribution of the number of MacBook Air laptops
sold per day at a particular Best Buy.
Number of Laptops Frequency
07
15
23
32
44
53
What is the mean number of MacBook Air laptops sold per day? - CORRECT
ANSWER 4
Which one of the following statements is true for a right-skewed distribution? - CORRECT
ANSWER The mean is greater than the median.
In the last week, Tesla stock price dived and its daily returns were below zero (ranging from -
10% to -5%). The standard deviation of the Nikola stock daily returns last week - CORRECT
ANSWER must be positive
According to the Insurance Research Council in 2020, 20% of U.S. drivers are uninsured. A
random sample of seven drivers was selected. - CORRECT ANSWER Exhibit
What is the probability that four or more of these drivers are insured? - CORRECT
ANSWER 0.9667
