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Straighterline Business Stats Final exam 2024
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Straighterline Business Stats Finalexam 2024
The main purpose of descriptive statistics is to - ANSWER Summarize data in a
useful and informative manner
Which word is NOT part of the definition of descriptive statistics? - ANSWER
Predicting
A marketing class of 50 students evaluated the instructor using the following scale:
superior, good, average, poor, and inferior. The descriptive summary showed the
following survey results: 2% superior, 8% good, 45% average, 45% poor, and 0%
inferior. - ANSWER c. Most students rated the instructor as poor or average.
What type of variable is the number of robberies reported in your city? - ANSWER
Quantitative
The Nielsen Ratings break down the number of people watching a particular
television show by age. What level of measurement is age? - ANSWER Ratio
What level of measurement is a person's "favorite sport"? - ANSWER Nominal
The final rankings of the top 20 NCAA college basketball teams are an example of
which level of measurement? - ANSWER Ordinal
What level of measurement is the Centigrade temperature scale? - ANSWER
Interval
A survey includes a question regarding marital status that has the following
responses: single, married, divorced, separated, or widowed. What is the scale of
measurement for this question? - ANSWER Nominal
A group of women tried five brands of fingernail polish and ranked them according to
preference. What level of measurement is this? - ANSWER Ordinal
Shoe style is an example of what level of measurement? - ANSWER Nominal
When TV advertisements report "2 out of 3 dentists surveyed indicated they would
recommend Brand X toothpaste to their patients," an informed consumer may
question the conclusion because the: - ANSWER Advertisement does not include
the total number of dentists surveyed
,A sample of the paramedical fees charged by clinics revealed these amounts: $55,
$49, $50, $45, $52, and $55. What is the median charge? - ANSWER 51.00
For a data set with an odd number of observations that have been sorted from
smallest to largest values, where is the median located? - ANSWER (n + 1)/2
Assume a student received the following grades for the semester: History, B;
Statistics, A; Spanish, C; and English, C. History and English are 5 credit-hour
courses, Statistics a 4 credit-hour course, and Spanish a 3 credit-hour course. If 4
grade points are assigned for an A, 3 for a B, and 2 for a C, what is the weighted
mean grade for the semester? - ANSWER 2.76
A disadvantage of using an arithmetic mean to summarize a set of data is that
__________. - ANSWER It can be biased by one or two extremely small or large
values
A survey item asked students to indicate their class in college: freshman,
sophomore, junior, or senior. Which measure(s) of central location would be
appropriate for the data generated by that questionnaire item? - ANSWER Mode
and median
The times (in minutes) that several underwriters took to review applications for
similar insurance coverage are 50, 230, 52, and 57. What is the median length of
time required to review an application? - ANSWER 54.5
For the most recent seven years, the U.S. Department of Education reported the
following number of bachelor's degrees awarded in computer science: 4,033; 5,652;
6,407; 7,201; 8,719; 11,154; 15,121. What is the annual arithmetic mean number of
degrees awarded? - ANSWER About 8,327
Which of the following measures of dispersion are based on deviations from the
mean? - ANSWER All apply
From the easiest to the hardest "ease of interpretation," rank the measures of
dispersion. - ANSWER Range, mean deviation, variance
The weights of a sample of crates ready for shipment to Moscow, Russia are (in
kilograms): 103, 97, 101, 106, and 103. What is the mean deviation? - ANSWER
2.4 kg
A sample of assistant professors on the business faculty at state-supported
institutions in Ohio revealed the mean income to be $72,000 for nine months, with a
standard deviation of $3,000. Using Chebyshev's Theorem, what proportion of the
faculty earns more than $66,000, but less than $78,000? - ANSWER At least 75%
Based on the Empirical Rule, what percent of the observations will lie between plus
or minus two standard deviations from the mean? - ANSWER 95%
What is the relationship between the variance and the standard deviation? -
ANSWER Variance is the square of the standard deviation.
, What statistics are needed to draw a box plot? - ANSWER The minimum,
maximum, median, first and third quartiles
A box plot shows ___________. - ANSWER The relative symmetry of a distribution
for a set of data
A dot plot can be used to show _________________. - ANSWER The distribution
for a quantitative variable
If a student places in the 99th percentile on an exam, she performed better than 99%
of all students who completed the exam. Her performance is similar to a statement
based on a __________. - ANSWER Cumulative frequency distribution
To locate the percentile for a given observation in a data set, the data must be
___________. - ANSWER Sorted and listed from the minimum to the maximum
values
The test scores for a class of 147 students are computed. What is the location of the
test score associated with the third quartile? - ANSWER 111
In a distribution, the second quartile corresponds with the __________. - ANSWER
Median
A dot plot shows ____________. - ANSWER The general shape of a distribution
The range of the coefficient of skewness is ____________. - ANSWER Both
positive and negative values
A sample of experienced typists revealed that their mean typing speed is 87 words
per minute and the median typing speed is 73 words per minute. The standard
deviation of typing speed is 16.9 words per minute. What is the Pearson coefficient
of skewness? - ANSWER +2.5
If the coefficient of skewness is equal to zero, the shape of the distribution is
__________. - ANSWER Symmetric
A large oil company is studying the number of gallons of gasoline purchased per
customer at self-service pumps. The mean number of gallons is 10.0, with a
standard deviation of 3.0 gallons. The median is 10.75 gallons. What is Pearson's
coefficient of skewness in this instance? - ANSWER -0.75
In a contingency table, we describe the relationship between ________. - ANSWER
Two variables measured at the ordinal or nominal level
The first card selected from a standard 52-card deck was a king. If it is NOT returned
to the deck, what is the probability that a king will be drawn on the second selection?
- ANSWER 3/51 or 0.0588
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