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QMB 3200 Test 1 Questions And Answers
100% Verified.
What is the z score formula? - Answer✔✔(the observation - mean) / standard deviation
What does a z score tell us? - Answer✔✔how many standard deviations a value of from the
mean
How do you find the range? - Answer✔✔biggest value minus smallest value
What is the formula used in excel to find the range? - Answer✔✔=max(array) - min (array)
If a data set has an odd number of observations, the median
a. Cannot be determined
b. is the value of the middle item when all items are arranged in ascending order
c. is the average value of the two middle items when all items are arranged in ascending order.
d. must be equal to the mean - Answer✔✔b. is the value of the middle item when all items are
arranged in ascending order
Which of the following represents the data point that occurs most frequently in a set of
observations?
a. Mean
b. Mode
c. All of these choices are correct
d. Median - Answer✔✔b. Mode
The median of a data set is represented by the:
a. 50th percentile
b. 75th percentile
1
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c. 100th percentile
d. 25th percentile - Answer✔✔a. 50th percentile
Which of the following is a possible reason for an outlier in a data set?
a. A mistake was made while taking a measurement or entering it into the computer
b. The individual in question belongs to a different group than the bulk of individuals measured
c. The outlier is a legitimate data value and represents natural variability for the group and
variables measured
d. All of these choices are possible reasons for an outlier - Answer✔✔d. All of these choices are
possible reasons for an outlier
The following is the frequency distribution for the ages of a sample of senior citizens who attend
a local bingo night. What is the standard deviation for this data set?
Age / Frequency
60-
65-
70-
75-
Total: 40
a. 47.8
b. 4.19
c. 17.54
d. 68 - Answer✔✔b. 4.19
A table or rule that assigns probabilities to the possible values of a discrete random variable X is
called the:
a. probability function
b. expected value
c. conditional probability
2
QMB 3200 Test 1 Questions And Answers
100% Verified.
What is the z score formula? - Answer✔✔(the observation - mean) / standard deviation
What does a z score tell us? - Answer✔✔how many standard deviations a value of from the
mean
How do you find the range? - Answer✔✔biggest value minus smallest value
What is the formula used in excel to find the range? - Answer✔✔=max(array) - min (array)
If a data set has an odd number of observations, the median
a. Cannot be determined
b. is the value of the middle item when all items are arranged in ascending order
c. is the average value of the two middle items when all items are arranged in ascending order.
d. must be equal to the mean - Answer✔✔b. is the value of the middle item when all items are
arranged in ascending order
Which of the following represents the data point that occurs most frequently in a set of
observations?
a. Mean
b. Mode
c. All of these choices are correct
d. Median - Answer✔✔b. Mode
The median of a data set is represented by the:
a. 50th percentile
b. 75th percentile
1
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c. 100th percentile
d. 25th percentile - Answer✔✔a. 50th percentile
Which of the following is a possible reason for an outlier in a data set?
a. A mistake was made while taking a measurement or entering it into the computer
b. The individual in question belongs to a different group than the bulk of individuals measured
c. The outlier is a legitimate data value and represents natural variability for the group and
variables measured
d. All of these choices are possible reasons for an outlier - Answer✔✔d. All of these choices are
possible reasons for an outlier
The following is the frequency distribution for the ages of a sample of senior citizens who attend
a local bingo night. What is the standard deviation for this data set?
Age / Frequency
60-
65-
70-
75-
Total: 40
a. 47.8
b. 4.19
c. 17.54
d. 68 - Answer✔✔b. 4.19
A table or rule that assigns probabilities to the possible values of a discrete random variable X is
called the:
a. probability function
b. expected value
c. conditional probability
2
