QNT 561 Final Exam 4

QNT 561 Final Exam 4 1) Which of the following measures of central location is affected most by extreme values? A. Mean B. Median C. Mode D. Geometric mean 2) Which level of measurement is required for the median? A. Nominal B. Ordinal C. Interval D. Ratio 3) Which level of measurement is required for the mode? A. Nominal B. Ordinal C. Interval D. Ratio 4) In a set of observations, which measure of central tendency reports the value that occurs most often? A. Mean B. Median C. Mode D. Geometric mean 5) The weighted mean is a special case of what? A. Mean B. Median C. Mode D. Geometric mean 6) A sample of 5 companies were examined for changes in their relative market share. The results showed the following increases & decreases: –5, 10, 10, 5, –10. A. 8 B. 2 C. -2 D. 6 7) The difference between the sample mean & the population mean is called the A. margin of error B. population standard deviation C. standard error of the mean D. sampling error 8) A local trade union consists of plumbers & electricians. Classified according to rank: Apprentice Journeyman Master Total Plumbers Electricians 40 60 50 A member of the union is selected at random. Given that the person selected is an electrician, what is the probability that the person is a master? A. .053 B. .133 C. .500 D. .267 9) Suppose a population consisted of 20 items. How many different samples of n = 3 are possible? A. 6840 B. 1140 C. 20 D. 120 10) The mean & the variance are equal in A. the normal distribution B. the binomial distribution C. the Poisson distribution D. the hypergeometric distribution