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MKTG 2340 O'Connor Exam Questions And Accurate Answers
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MKTG 2340 O'Connor Exam Questions And AccurateAnswers 2024-2025
The arithmetic mean is. -Answer The arithmetic mean is the most common measure of
central location. We often simply call this the mean, or average. To compute the mean for
a data set we sum the values of each data point and divide by either the number of data
points in the population or the sample.
Since the mean can be affected by outliers, we often also calculate the ___________ as a
measure of central location. - Answer Median
Since the mean may be influenced by outliers, we usually also compute the median as a
measure of central position.
The median is. - Answer The median is the middle value of a data set. It divides the data
in half; an equal number of observations lie above and below the median.
the median is calculated as. - Answer The median is the middle value of a data set. The
data are arranged in ascending order-smallest to largest-and the median is calculated as
Middle value if number of observations is odd, or
Average of two middle values if number of observations is even.
The ________ of a data set is the value that occurs most frequently - Answer Mode
The mode of a data set is the value that occurs most frequently.
, The ________ is the most frequently occurring value in a data set. A data set may have no
______ or more than one _______ - Answer The mode is the most frequently occurring
value in a data set. A data set may have no mode or more than one mode.
The _________ ________ is relevant when some observations contribute more than
others - Answer Weighted Mean
Weighted mean is appropriate when some of the observations carry more weight The
student earned an 60 on Exam 1, a 70 on Exam 2, and an 80 on Exam 3. What is the
student's average score for the course if Exam 1 is worth 25% of the grade, Exam 2 is
worth 25%, and Exam 3 is worth 50%? - Answer A student scores 60 on Exam 1, 70 on
Exam 2, and 80 on Exam 3. What is the student's average score for the course if Exams 1,
2, and 3 are worth 25%, 25%, and 50% of the grade, respectively?
SOLUTION We define the weights as w1=0.25,
w2=0.25 and w3=0.50. We compute the weighted average grade as
=0.25(60)+0.25(70)+0.50(80)=72.50. Notice that the unweighted average is only 70 because
it does not account for the greater weight attached to the grade on Exam 3.
When we calculate for the 25th, the 50th, and the 75th percentiles for a data set, we have
effectively divided the data into four equal parts, or quarters. Thus, the 25th percentile is
also known as. Answer 25th percentile=first quartile (Q1)
50th percentile = Second Quartile (Q2)
75th percentile = Third Quartile (Q3)
Minimum value Min, the quartiles Q1, Q2 and Q3 and maximum value Max are sometimes
collectively referred to as. - Answer the five-number summary of a data set.
A __________ is a convenient way to graphically display the five-number summary of a
data set. - Answer Boxplot
A boxplot is a convenient way to graphically display the five-number summary of a data
set.
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