Question 1

A numerical value used as a summary measure for a sample is known as a sample

Accepted Answer

A)   error.
B)   parameter.
C)   statistic.
D)   value.E) A) and C)
F) B) and D)

Question 2

The closing stock price of MNM Corporation for the last 7 trading days is shown below.  ​ The median is

Accepted Answer

A)   24.
B)   25.
C)   26.
D)   27.E) None of the above
F) B) and D) D

Question 3

​Which of the following statements about financial growth factors using the geometric mean is untrue?

Accepted Answer

A)   ​The growth factor cannot be less than zero.
B)   ​A growth factor less than 1 indicates negative growth.
C)   ​A growth factor greater than 2 indicates more than 100 percent growth.
D)   ​A growth factor greater than 0 indicates positive growth.E) C) and D)
F) A) and B)

Question 4

​From a population of size 1,000, a random sample of 100 items is selected. The mean of the sample

Accepted Answer

A)   ​must be 10 times smaller than the mean of the population.
B)   ​must be equal to the mean of the population, if the sample is truly random.
C)   ​must be 10 times larger than the mean of the population.
D)   ​can be larger, smaller or equal to the mean of the population.E) B) and D)
F) C) and D)

Question 5

​Statements about the proportion of data values that must be within a specified number of standard deviations of the mean can be made using

Accepted Answer

A)   ​Chebyshev's theorem.
B)   The empirical rule.
C)   ​A five-number summary.
D)   Percentiles.E) A) and C)
F) B) and D)

Question 6

​The hourly wages of a sample of 130 system analysts are given below. ​  ​
The coefficient of variation equals
​

Accepted Answer

A)   ​0.30%.
B)   ​30%.
C)   ​5.4%.
D)   ​54%.E) B) and C)
F) None of the above

Question 7

Consider a sample with the following data values.
​  ​
Compute the Z scores for the above five observations.

Accepted Answer

The answer of Consider a sample with the following data...

Question 8

Which of the following provides a measure of central tendency for the data?

Accepted Answer

A)   Standard deviation
B)   Mean
C)   Variance
D)   RangeE) A) and C)
F) None of the above B

Question 9

The median of a sample will always equal the

Accepted Answer

A)   (Q1 + Q3) /2.
B)   square root of the variance.
C)   50th percentile.
D)   (smallest value + largest value) /2.E) A) and C)
F) A) and B)

Question 10

Which of the following symbols represents the variance of the population?

Accepted Answer

A)   σ2
B)   σ
C)   μ
D)   2 
B)   σ 
C)   μ 
D)    " class="answers-bank-image d-inline" rel="preload" >E) None of the above
F) All of the above

Question 11

The price of a selected stock over a five day period is shown below.
​
47, 45, 43, 47, 46
​
Using the above data, compute the mean, the median, and the mode.

Accepted Answer

Mean = 45....

Question 12

The coefficient of variation indicates how large the standard deviation is relative to the​

Accepted Answer

A)   ​mean.
B)   ​median.
C)   ​range.
D)   ​variance.E) B) and D)
F) B) and C)

Question 13

​In a box plot, data value x is considered an outlier if

Accepted Answer

A)   ​x  Q3 + 1.0(IQR) .
B)   ​x  Q2 + 1.0(IQR) .
C)   ​x  Q3 + 1.5(IQR) .
D)   ​x  Q2 + 1.5(IQR) .E) B) and D)
F) A) and B)

Question 14

The numerical value of the standard deviation can never be

Accepted Answer

A)   larger than the variance.
B)   zero.
C)   negative.
D)   smaller than the variance.E) All of the above
F) A) and C)

Question 15

​In computing descriptive statistics for grouped data, the data values in each class are approximated using the

Accepted Answer

A)   ​class lower limits.
B)   ​class upper limits.
C)   ​class midpoint.
D)   ​class range.E) None of the above
F) All of the above C

Question 16

The average wage of Tennessee cashiers is $14 per hour with a standard deviation of $4.20. In Georgia, the average wage of cashiers is $16 with a standard deviation of $4.40. In which state do the wages of cashiers appear to be more dispersed?

Accepted Answer

The coefficient of variation i...

Question 17

Which of the following is not a measure of variability?

Accepted Answer

A)   The range
B)   The midrange
C)   The standard deviation
D)   The interquartile rangeE) C) and D)
F) B) and C)

Question 18

In 2012, the average donation to the Help Way was $225 with a standard deviation of $45. In 2013, the average donation was $400 with a standard deviation of $60. In which year did the donations show a more dispersed distribution?

Accepted Answer

The coefficient of variation i...

Question 19

The coefficient of correlation

Accepted Answer

A)   is the same as the coefficient of determination.
B)   cannot be larger than 100.
C)   cannot be larger than 1.
D)   cannot be negative.E) None of the above
F) All of the above

Question 20

The interquartile range is

Accepted Answer

A)   the 50th percentile.
B)   another name for the standard deviation.
C)   the difference between the largest and smallest values.
D)   the difference between the third quartile and the first quartile.E) B) and C)
F) A) and D)

Exam 3: Descriptive Statistics: Numerical Measures

A numerical value used as a summary measure for a sample is known as a sample

Correct AnswerverifiedShow Answer

The closing stock price of MNM Corporation for the last 7 trading days is shown below. ​ The median is

Correct AnswerverifiedD

​Which of the following statements about financial growth factors using the geometric mean is untrue?

Correct AnswerverifiedShow Answer

​From a population of size 1,000, a random sample of 100 items is selected. The mean of the sample

Correct AnswerverifiedShow Answer

​Statements about the proportion of data values that must be within a specified number of standard deviations of the mean can be made using

Correct AnswerverifiedShow Answer

​The hourly wages of a sample of 130 system analysts are given below. ​ ​ The coefficient of variation equals ​

Correct AnswerverifiedShow Answer

Consider a sample with the following data values. ​ ​ Compute the Z scores for the above five observations.

Correct AnswerverifiedShow Answer

Which of the following provides a measure of central tendency for the data?

Correct AnswerverifiedB

The median of a sample will always equal the

Correct AnswerverifiedShow Answer

Which of the following symbols represents the variance of the population?

Correct AnswerverifiedShow Answer

The price of a selected stock over a five day period is shown below. ​ 47, 45, 43, 47, 46 ​ Using the above data, compute the mean, the median, and the mode.

Correct AnswerverifiedMean = 45....View AnswerShow Answer

The coefficient of variation indicates how large the standard deviation is relative to the​

Correct AnswerverifiedShow Answer

​In a box plot, data value x is considered an outlier if

Correct AnswerverifiedShow Answer

The numerical value of the standard deviation can never be

Correct AnswerverifiedShow Answer

​In computing descriptive statistics for grouped data, the data values in each class are approximated using the

Correct AnswerverifiedC

The average wage of Tennessee cashiers is $14 per hour with a standard deviation of $4.20. In Georgia, the average wage of cashiers is $16 with a standard deviation of $4.40. In which state do the wages of cashiers appear to be more dispersed?

Correct AnswerverifiedThe coefficient of variation i...View AnswerShow Answer

Which of the following is not a measure of variability?

Correct AnswerverifiedShow Answer

In 2012, the average donation to the Help Way was $225 with a standard deviation of $45. In 2013, the average donation was $400 with a standard deviation of $60. In which year did the donations show a more dispersed distribution?

Correct AnswerverifiedThe coefficient of variation i...View AnswerShow Answer

The coefficient of correlation

Correct AnswerverifiedShow Answer

The interquartile range is

Correct AnswerverifiedShow Answer

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The closing stock price of MNM Corporation for the last 7 trading days is shown below. The median is

Correct Answer
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D

Which of the following statements about financial growth factors using the geometric mean is untrue?

Correct Answer
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From a population of size 1,000, a random sample of 100 items is selected. The mean of the sample

Correct Answer
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Statements about the proportion of data values that must be within a specified number of standard deviations of the mean can be made using

Correct Answer
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The hourly wages of a sample of 130 system analysts are given below. The coefficient of variation equals

Correct Answer
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Consider a sample with the following data values. Compute the Z scores for the above five observations.

Correct Answer
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B

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The price of a selected stock over a five day period is shown below. 47, 45, 43, 47, 46 Using the above data, compute the mean, the median, and the mode.

Correct Answer
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Mean = 45....
View Answer

The coefficient of variation indicates how large the standard deviation is relative to the

Correct Answer
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In a box plot, data value x is considered an outlier if

Correct Answer
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In computing descriptive statistics for grouped data, the data values in each class are approximated using the

Correct Answer
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C

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The coefficient of variation i...
View Answer

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The coefficient of variation i...
View Answer

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