BUS5112 Quantitative Research Methods Unit 5 Graded Quiz — 25
Q&A Verified Answers 2025
Course:
BUS5112 Quantitative Research Methods — University of the People (UoPeople)
Level:
MBA
Year:
2025/2026
Format:
Graded Quiz Solutions — 25 Q&A with Verified Answers
BUS5112 Unit 5 Graded Quiz — Descriptive Statistics and
Correlation
25 Questions with Verified Answers | Score: 96/100
Question 1:
Which of the following measures of central tendency is calculated by summing all the values in a
dataset and dividing by the total number of observations?
A) Median
B) Mean
C) Mode
D) Variance
Answer: B
Explanation:
The mean is the mathematical average, calculated by adding all data points together and dividing
by the count. The median is simply the middle value when sorted, the mode is the most frequent
value, and variance is a measure of dispersion, not central tendency.
Question 2:
, While analyzing customer wait times, a restaurant manager decides to use the range as a measure
of dispersion. What is the primary limitation of relying solely on the range?
A) It is mathematically complex to calculate for large datasets.
B) It only considers the two extreme values and ignores the distribution of the rest of the data.
C) It cannot be used for quantitative continuous data.
D) It is heavily influenced by the median value.
Answer: B
Explanation:
The range is calculated simply as the maximum value minus the minimum value, meaning it
completely ignores all data points in between. This makes it highly sensitive to outliers and
incapable of providing insight into how the central data is clustered, unlike standard deviation or
variance.
Question 3:
In the context of evaluating financial risk, standard deviation is heavily utilized. What exactly does
the standard deviation measure?
A) The total sum of all values divided by the observation count.
B) The absolute difference between the highest and lowest values in a portfolio.
C) The middle value of returns in a sorted dataset over a year.
D) The average distance of individual data points from the mean.
Answer: D
Explanation:
Standard deviation quantifies the amount of variation or dispersion in a set of values, representing
how far, on average, data points deviate from the mean. Options A, B, and C describe the mean,
range, and median respectively, which do not measure average spread.
Question 4:
Variance and standard deviation are closely related metrics of dispersion. What is the exact
mathematical relationship between the two?
A) Variance is the square of the standard deviation.
B) Standard deviation is the square of the variance.
C) Variance is expressed in the same units as the original data, whereas standard deviation is
squared.
Q&A Verified Answers 2025
Course:
BUS5112 Quantitative Research Methods — University of the People (UoPeople)
Level:
MBA
Year:
2025/2026
Format:
Graded Quiz Solutions — 25 Q&A with Verified Answers
BUS5112 Unit 5 Graded Quiz — Descriptive Statistics and
Correlation
25 Questions with Verified Answers | Score: 96/100
Question 1:
Which of the following measures of central tendency is calculated by summing all the values in a
dataset and dividing by the total number of observations?
A) Median
B) Mean
C) Mode
D) Variance
Answer: B
Explanation:
The mean is the mathematical average, calculated by adding all data points together and dividing
by the count. The median is simply the middle value when sorted, the mode is the most frequent
value, and variance is a measure of dispersion, not central tendency.
Question 2:
, While analyzing customer wait times, a restaurant manager decides to use the range as a measure
of dispersion. What is the primary limitation of relying solely on the range?
A) It is mathematically complex to calculate for large datasets.
B) It only considers the two extreme values and ignores the distribution of the rest of the data.
C) It cannot be used for quantitative continuous data.
D) It is heavily influenced by the median value.
Answer: B
Explanation:
The range is calculated simply as the maximum value minus the minimum value, meaning it
completely ignores all data points in between. This makes it highly sensitive to outliers and
incapable of providing insight into how the central data is clustered, unlike standard deviation or
variance.
Question 3:
In the context of evaluating financial risk, standard deviation is heavily utilized. What exactly does
the standard deviation measure?
A) The total sum of all values divided by the observation count.
B) The absolute difference between the highest and lowest values in a portfolio.
C) The middle value of returns in a sorted dataset over a year.
D) The average distance of individual data points from the mean.
Answer: D
Explanation:
Standard deviation quantifies the amount of variation or dispersion in a set of values, representing
how far, on average, data points deviate from the mean. Options A, B, and C describe the mean,
range, and median respectively, which do not measure average spread.
Question 4:
Variance and standard deviation are closely related metrics of dispersion. What is the exact
mathematical relationship between the two?
A) Variance is the square of the standard deviation.
B) Standard deviation is the square of the variance.
C) Variance is expressed in the same units as the original data, whereas standard deviation is
squared.
