Chapter3 Business.docx

Chapter3 Business.docx

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Chapter3Business

Chapter3

DescribingData:

NumericalMeasures

True/FalseQuestions

TF1.Avaluethatistypicalorrepresentativeofthedataisreferredtoasameasureofcentrallocation.

Answer:

TrueDifficulty:

EasyGoal:

1

TF2.Thearithmeticmeanisthesumoftheobservationsdividedbythetotalnumberofobservations.

Answer:

TrueDifficulty:

EasyGoal:

1

TF3.Forasetofdataarrangedorsortedinnumericalorder,thevalueoftheobservationinthecenteriscalledtheweightedmean.

Answer:

FalseDifficulty:

EasyGoal:

1

TF4.Asetofordinal,intervalorratioleveldatamayonlyhaveonemode.

Answer:

FalseDifficulty:

EasyGoal:

1

TF5.Ifavariableismeasuredattheintervalorratiolevel,allthevaluesareincludedwhencomputingthemean.

Answer:

TrueDifficulty:

EasyGoal:

2

TF6.Avariablemeasuredattheintervalorratiolevelcanhavemorethanonearithmeticmean.

Answer:

FalseDifficulty:

EasyGoal:

2

TF7.Themodeisthevalueoftheobservationthatappearsmostfrequently.

Answer:

TrueDifficulty:

EasyGoal:

1

TF8.Adistributionthathasthesameshapeoneithersideofthecenterissaidtobesymmetrical.

Answer:

TrueDifficulty:

EasyGoal:

3

TF9.Anegativelyskeweddistributionisnotsymmetrical.Thelongtailistotheleftorinthenegativedirection.

Answer:

TrueDifficulty:

EasyGoal:

3

TF10.Thegeometricmeanisthenthrootofnobservations.

Answer:

TrueDifficulty:

MediumGoal:

1

TF11.Astatisticisameasurablecharacteristicofthepopulation.

Answer:

FalseDifficulty:

EasyGoal:

1

TF12.Aparameterisameasurablecharacteristicofasample.

Answer:

FalseDifficulty:

EasyGoal:

1

TF13.Themediancanbedeterminedforanysetofinterval-leveldata.

Answer:

TrueDifficulty:

EasyGoal:

2

TF14.Extremelyhighorlowscoresaffectthevalueofthemedian.

Answer:

FalseDifficulty:

EasyGoal:

2

TF15.Thesumofthedeviationsfromthemeanforthesetofnumbers4,9and5willequalzero.

Answer:

TrueDifficulty:

EasyGoal:

2

TF16.Forsalariesof$102,000,$98,000,$45,000,$106,000and$101,000,thearithmeticmeanwouldbeanappropriateaverage.

Answer:

FalseDifficulty:

EasyGoal:

2

TF17.Threepersonsearn$8anhour,sixearn$9anhour,andoneearns$12anhour.Theweightedmeanhourlywageis$9.

Answer:

TrueDifficulty:

MediumGoal:

1

TF18.Foranydistribution,thereareanequalnumberofvaluesabovethemeanandbelowit.

Answer:

FalseDifficulty:

EasyGoal:

2

TF19.Foradatasetwithanevennumberofungroupedvalues,themedianisthearithmeticmeanofthetwomiddlevalues.

Answer:

TrueDifficulty:

EasyGoal:

1

TF20.Foradatasetwithanevennumberofungroupedvalues,halfofthevalueswillbelessthanthemedian.

Answer:

TrueDifficulty:

EasyGoal:

1

TF21.Inanegativelyskeweddistribution,themeanisalwaysgreaterthanthemedian.

Answer:

FalseDifficulty:

EasyGoal:

3

TF22.Inanegativelyskeweddistribution,themeanissmallerthanthemedianormodeandthemodeoccursatthepeakofthecurve.

Answer:

TrueDifficulty:

EasyGoal:

3

TF23.Inapositivelyskeweddistribution,themodeisgreaterthanthemedian.

Answer:

FalseDifficulty:

MediumGoal:

3

TF24.Dispersionisthedegreeofvariationinthedata.

Answer:

TrueDifficulty:

EasyGoal:

4

TF25.Themeandeviationisthemeanoftheactualvaluesofthedeviationsfromthearithmeticmean.

Answer:

FalseDifficulty:

MediumGoal:

4

TF26.Thevarianceisthemeanofthesumofthesquareddeviationsbetweeneachobservationandthemedian.

Answer:

FalseDifficulty:

MediumGoal:

4

TF27.Thestandarddeviationisthepositivesquarerootofthevariance.

Answer:

TrueDifficulty:

MediumGoal:

4

TF28.Chebyshev'sTheoremgivestheproportionofobservationsinanydatasetthatoccurswithinkstandarddeviationsofthemean,wherekisgreaterthan1.0.

Answer:

TrueDifficulty:

MediumGoal:

6

TF29.TheEmpiricalstatesthatabout68%oftheobservationwillliewithinonestandarddeviationofthemean;about95%oftheobservationswillliewithintwostandarddeviationsofthemean;andvirtuallyall（99.7%）willliewithinthreestandarddeviationsofthemean.

Answer:

TrueDifficulty:

MediumGoal:

6

TF30.Themeanabsolutedeviationisthemostwidelyusedmeasureofdispersion.

Answer:

FalseDifficulty:

EasyGoal:

4

TF31.Forasymmetricaldistribution,thevarianceisequaltothestandarddeviation.

Answer:

FalseDifficulty:

MediumGoal:

4

TF32.Inacompany,thestandarddeviationoftheagesoffemaleemployeesissixyearsandthestandarddeviationoftheagesofmaleemployeesistenyears.Thesestatisticsindicatethatthereismorespreadintheagesofthefemaleemployees.

Answer:

FalseDifficulty:

EasyGoal:

4

TF33.Ifwefindthedeviationofeachvaluefromthemedian,thesumofthesedeviationsisalwayszero.

Answer:

FalseDifficulty:

EasyGoal:

4

TF34.Ifafrequencydistributionisopen-ended,thevariancecannotbedetermined.

Answer:

TrueDifficulty:

MediumGoal:

4

TF35.Therangecannotbecomputedfordatagroupedinafrequencydistributionhavinganopenend.

Answer:

TrueDifficulty:

MediumGoal:

4

MultipleChoiceQuestions

36.Forwhichmeasureofcentrallocationwillthesumofthedeviationsofeachvaluefromthedata'saveragewillalwaysbezero?

A）Mode

B）Mean

C）Median

D）Geometricmean

E）Noneoftheabove

Answer:

BDifficulty:

EasyGoal:

1

37.Whichmeasuresofcentrallocationalwayshaveonlyonevalueforasetofgroupedorungroupeddata?

A）Modeandmedian

B）Modeandmean

C）Modeandgeometricmean

D）Meanandmedian

Answer:

DDifficulty:

EasyGoal:

2

38.Whichmeasuresofcentrallocationarenotaffectedbyextremelysmallorextremelylargevalues?

A）Meanandmedian

B）Meanandmode

C）Modeandmedian

D）Geometricmeanandmean

E）Noneoftheabove

Answer:

CDifficulty:

EasyGoal:

2

39.Whatistherelationshipamongthemean,medianandmodeinasymmetricdistribution?

A）Theyareallequal

B）Themeanisalwaysthesmallestvalue

C）Themeanisalwaysthelargestvalue

D）Themodeisthelargestvalue

Answer:

ADifficulty:

EasyGoal:

3

40.Foradataset,halfoftheobservationsarealwaysgreaterthanthe________.

A）Median

B）Mode

C）Mean

D）Geometricmean

Answer:

ADifficulty:

EasyGoal:

2

41.Whatisthelowestlevelofmeasurementthatamediancanbecomputed?

A）Nominal

B）Ordinal

C）Interval

D）Ratio

Answer:

BDifficulty:

MediumGoal:

2

42.Foranungroupeddatasetwithanoddnumberofobservationsthathavebeensortedorarrayedfromsmallesttolargestvalues,whereisthemedianlocated?

A）n

B）n/2

C）（n+1）/2

D）n+1/2

Answer:

CDifficulty:

MediumGoal:

1

43.Whichmeasureofcentrallocationisusedtodetermineanaverageannualpercentincrease?

A）Arithmeticmean

B）Weightedmean

C）Mode

D）Geometricmean

E）Median

Answer:

DDifficulty:

EasyGoal:

1

44.Ifafrequencydistributionhasopen-endedintervalsattheextremes,whichmeasureofcentrallocationisthemostdifficulttoestimate?

A）Median

B）Mode

C）Mean

D）Alloftheabove

E）Noneoftheabove

Answer:

CDifficulty:

MediumGoal:

2

45.Whichoneofthefollowingisreferredtoasthepopulationmean?

A）Statistic

B）μ

C）Sample

D）Noneoftheabove

Answer:

BDifficulty:

MediumGoal:

1

46.Fifteenaccountingmajorshadanaveragegradeof90onafinanceexam.Sevenmarketingmajorsaveraged85,whiletenfinancemajorsaveraged93onthesameexam.Whatistheweightedmeanforthe32studentstakingtheexam?

A）89.84

B）89.33

C）89.48

D）Impossibletodeterminewithoutmoreinformation

Answer:

ADifficulty:

MediumGoal:

1

47.Inthecalculationofthearithmeticmeanforgroupeddata,whichvalueisusedtorepresentallthevaluesinaparticularclass?

A）Theupperlimitoftheclass

B）Thelowerlimitoftheclass

C）Thefrequencyoftheclass

D）Thecumulativefrequencyprecedingtheclass

E）Theclassmidpoint.

Answer:

EDifficulty:

MediumGoal:

2

48.Onasurveyquestionnaire,studentswereaskedtoindicatetheirclassrankincollege.Iftherewereonlyfourchoicesfromwhichtochoose,whichmeasure（s）ofcentrallocationwouldbeappropriatetouseforthedatageneratedbythatquestionnaireitem?

A）Meanandmedian

B）Meanandmode

C）Modeandmedian

D）Modeonly

E）Medianonly

Answer:

CDifficulty:

MediumGoal:

1

49.Whatisthemedianof26,30,24,32,32,31,27and29?

A）32

B）29

C）30

D）29.5

Answer:

DDifficulty:

MediumGoal:

1

50.Thenetincomes（in$millions）ofasampleofsteelfabricatorsare:

$86,$67,$86and$85.Whatisthemodalnetincome?

A）$67

B）$85

C）$85.5

D）$86

Answer:

DDifficulty:

EasyGoal:

1

51.Asampleoflighttrucksusingdieselfuelrevealedthefollowingdistributionbasedonfuelefficiency,i.e.,milespergallon（mpg）.

Whatisthearithmeticmeanmilespergallon?

A）16.9

B）18.6

C）17.0

D）17.9

E）Noneoftheabove

Answer:

BDifficulty:

HardGoal:

1

52.Theagesofnewlyhired,unskilledemployeesweregroupedintothefollowingdistribution:

Whatisthemeanage?

A）25.51

B）24.01

C）26.99

D）26.58

E）20.00

Answer:

DDifficulty:

HardGoal:

1

53.Asampleofthedailyproductionoftransceiverswasorganizedintothefollo