Straighterline Business Stats
Final Exam Questions and
ANSWERs Rated A+
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
Final Exam Questions and
ANSWERs Rated A+
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
