Business Statistics Practice Questions And Answers ( Verified And Updated )
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Course
Business Statistics
Institution
Business Statistics
Business Statistics Practice Questions And Answers ( Verified And Updated )
Which of the following is NOT a use of descriptive statistics?
predicting
Education was measured as Freshman, Sophomore, Junior or Senior. What is the level of measurement for the variable?
ordinal
What type of...
business statistics practice questions and answers
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Business Statistics Practice Questions And
Answers ( Verified And Updated )
Which of the following is NOT a use of descriptive statistics?
predicting
Education was measured as Freshman, Sophomore, Junior or Senior. What is the level of
measurement for the variable?
ordinal
What type of of variable is the amount of time spent sleeping per day?
continuous - there are endless amounts of values that could fall under this variable... 1 hour, 1.1
hours, 1.2 hours, etc.
What type of of variable is the number of accidents reported in a given month?
discrete
Age is what level of measurement?
ratio - the data can be categorized and ranked; the difference between the values is meaningful; there
is a meaningful value of 0
For a data set with some variation in the data and an even number of observations, half are greater
than the...
median
For data that have been ordered from smallest to largest values, where is the median located?
(n + 1) / 2
The hours worked for a sample of employees are 6, 0, 10, 14, 8, and 0. What is the median hours
worked?
7
A disadvantage of using the mean to summarize a set of data is that
it can be easily influenced by outliers (extreme values)
The mean, a measure of central location would be inappropriate for what?
marital status of college students at a particular university (not quantitative)
What level of measurement is needed in order to calculate the variance of a set of data?
Interval
The sum of deviations from the mean is
0
What is the relationship between the variance and the standard deviation?
, Variance is the square of the standard deviation
The number of hours per semester worked for a sample of students follows: 139, 136, 131, 147, 130,
135, 138, 139, 142. What is the range?
17
The number of hours per semester worked for a sample of students follows: 139, 136, 131, 136, 147,
130, 135, 138, 139, and 142. What is the mode?
136 and 139
If the variance for a sample of hourly wage was computed to be $25, what is the standard deviation?
$5
A listing of all possible outcomes of a random variable along with the corresponding probabilities is
called a
probability distribution
The weight of people is
a continuous random variable
For a normal distribution, the mean plus and minus 2 standard deviations will include about what
percentage of observations?
95%
Which is the area under the normal curve between z = 1.00 and z =1.79
0.1220
Both the mean and standard deviation are needed to find...
the relative position of the variable in a set of data
Why do we use the z-score?
to find the relative position of a sample value within the data set
If we choose a random starting point and then select every fifth invoice in a file, what type of
sampling is employed?
systematic sampling
systematic sampling
select some starting point and then select every kth element in the population
When dividing a population into groups so that a random sample of the groups can be collected, what
type of sampling is used?
stratified random sampling
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