Final Exam INSC 20153 TCU (Riggs)
questions n answers passed
Grouping a dataset helps identify trends amongst similar or repetitive values in classes that are
of interest to the researcher - correct answer ✔✔True
Bias is the tendency to favor the selection of certain elements/events over other sample
elements/events - correct answer ✔✔True
Sampling error is the difference between the sample mean and the population standard
deviation - correct answer ✔✔False
The following is a set of sample datum of the monthly starting salaries of recent finance
graduates from TCU. Select the answer that contains the mean. Use excel or a manual
calculation to compute.
Starting Salaries: 1400-1499, 1500-1599, 1600-1699, 1700-1799, 1800-1899, 1900,1999, 2000-
2099
f: 3, 6, 7, 2, 1, 3, 2 TOTAL: 24
Cum f - ?
M-?
fM - ?
fM^2 - ? - correct answer ✔✔Mean = 1687.00
Variance is the mean of the squared deviations around the mean and is measured in square
units - correct answer ✔✔True
,Below is a sample of closing prices for stocks from the WSJ. Select the choice containing the
Median. Use Excel or a manual calc to compute
Company: Amazon, Apple, Meta, Tesla, Netflix, Google
Price: 102.18, 151.73, 186.06, 194.76, 361.48, 103.47 - correct answer ✔✔Median = 168.90
2 standard deviations (K=2) from the mean covers at least 75% of a non-normal distribution
according to Chebyshev's theorem - correct answer ✔✔True
The mode is the dataset value in the middle with 50% of the values above and 50% of the values
below - correct answer ✔✔False
A population is is smaller than a sample - correct answer ✔✔False
Below is a sample of closing prices for stocks from the WSJ. Select the choice containing the
Mode. Use Excel or a manual calc to compute
Company: Amazon, Apple, Meta, Tesla, Netflix, Google
Price: 102.18, 151.73, 186.06, 194.76, 361.48, 103.47 - correct answer ✔✔Mode = none
The empirical rule can be used on all distributions (normal and non-normal) as long as the
dataset is continuous - correct answer ✔✔False
Researchers work with population data because it is easy to gather, cost effective and more
accurate relative to alternative methods - correct answer ✔✔False
, Statistics are descriptive measures of the population while parameters are descriptive measures
of a sample - correct answer ✔✔False
Below is a sample of closing prices for stocks from the WSJ. Select the choice containing the
Range. Use Excel or a manual calc to compute
Company: Amazon, Apple, Meta, Tesla, Netflix, Google
Price: 102.18, 151.73, 186.06, 194.76, 361.48, 103.47 - correct answer ✔✔Range = 259.30
Descriptive statistics are tools and techniques meant to create inferences about populations
derived from properly designed samples - correct answer ✔✔False
The following is a set of sample datum of the monthly starting salaries of recent finance
graduates from TCU. Select the answer that contains the Variance and Standard Deviation. Use
excel or a manual calculation to compute. Use at least three significant digits (ex. 29.124) when
conducting your variance calculation
Starting Salaries: 1400 - 1499, 1500-1599, 1600-1699, 1700-1799, 1800-1899, 1900,1999, 2000-
2099
f: 3, 6, 7, 2, 1, 3, 2 TOTAL: 24
Cum f - ?
M-?
fM - ?
fM^2 - ? - correct answer ✔✔Variance = 34619.6
Standard Deviation = 186.1
questions n answers passed
Grouping a dataset helps identify trends amongst similar or repetitive values in classes that are
of interest to the researcher - correct answer ✔✔True
Bias is the tendency to favor the selection of certain elements/events over other sample
elements/events - correct answer ✔✔True
Sampling error is the difference between the sample mean and the population standard
deviation - correct answer ✔✔False
The following is a set of sample datum of the monthly starting salaries of recent finance
graduates from TCU. Select the answer that contains the mean. Use excel or a manual
calculation to compute.
Starting Salaries: 1400-1499, 1500-1599, 1600-1699, 1700-1799, 1800-1899, 1900,1999, 2000-
2099
f: 3, 6, 7, 2, 1, 3, 2 TOTAL: 24
Cum f - ?
M-?
fM - ?
fM^2 - ? - correct answer ✔✔Mean = 1687.00
Variance is the mean of the squared deviations around the mean and is measured in square
units - correct answer ✔✔True
,Below is a sample of closing prices for stocks from the WSJ. Select the choice containing the
Median. Use Excel or a manual calc to compute
Company: Amazon, Apple, Meta, Tesla, Netflix, Google
Price: 102.18, 151.73, 186.06, 194.76, 361.48, 103.47 - correct answer ✔✔Median = 168.90
2 standard deviations (K=2) from the mean covers at least 75% of a non-normal distribution
according to Chebyshev's theorem - correct answer ✔✔True
The mode is the dataset value in the middle with 50% of the values above and 50% of the values
below - correct answer ✔✔False
A population is is smaller than a sample - correct answer ✔✔False
Below is a sample of closing prices for stocks from the WSJ. Select the choice containing the
Mode. Use Excel or a manual calc to compute
Company: Amazon, Apple, Meta, Tesla, Netflix, Google
Price: 102.18, 151.73, 186.06, 194.76, 361.48, 103.47 - correct answer ✔✔Mode = none
The empirical rule can be used on all distributions (normal and non-normal) as long as the
dataset is continuous - correct answer ✔✔False
Researchers work with population data because it is easy to gather, cost effective and more
accurate relative to alternative methods - correct answer ✔✔False
, Statistics are descriptive measures of the population while parameters are descriptive measures
of a sample - correct answer ✔✔False
Below is a sample of closing prices for stocks from the WSJ. Select the choice containing the
Range. Use Excel or a manual calc to compute
Company: Amazon, Apple, Meta, Tesla, Netflix, Google
Price: 102.18, 151.73, 186.06, 194.76, 361.48, 103.47 - correct answer ✔✔Range = 259.30
Descriptive statistics are tools and techniques meant to create inferences about populations
derived from properly designed samples - correct answer ✔✔False
The following is a set of sample datum of the monthly starting salaries of recent finance
graduates from TCU. Select the answer that contains the Variance and Standard Deviation. Use
excel or a manual calculation to compute. Use at least three significant digits (ex. 29.124) when
conducting your variance calculation
Starting Salaries: 1400 - 1499, 1500-1599, 1600-1699, 1700-1799, 1800-1899, 1900,1999, 2000-
2099
f: 3, 6, 7, 2, 1, 3, 2 TOTAL: 24
Cum f - ?
M-?
fM - ?
fM^2 - ? - correct answer ✔✔Variance = 34619.6
Standard Deviation = 186.1
