QMB 3200 Test 1Exam 2024 Questions With Correct Solutions!

What is the z score formula? - ANSWERS(the observation - mean) / standard deviation What does a z score tell us? - ANSWERShow many standard deviations a value of from the mean How do you find the range? - ANSWERSbiggest value minus smallest value What is the formula used in excel to find the range? - ANSWERS=max(array) - min (array) If a data set has an odd number of observations, the median a. Cannot be determined b. is the value of the middle item when all items are arranged in ascending order c. is the average value of the two middle items when all items are arranged in ascending order. d. must be equal to the mean - ANSWERSb. is the value of the middle item when all items are arranged in ascending order Which of the following represents the data point that occurs most frequently in a set of observations? a. Mean b. Mode c. All of these choices are correct d. Median - ANSWERSb. Mode The median of a data set is represented by the: a. 50th percentile b. 75th percentile c. 100th percentile d. 25th percentile - ANSWERSa. 50th percentile Which of the following is a possible reason for an outlier in a data set? a. A mistake was made while taking a measurement or entering it into the computer b. The individual in question belongs to a different group than the bulk of individuals measured c.