Business Statistics Final Exam 2026 – 190 Multiple Choice Practice
Questions with Answers & Step-by-Step Solutions | Statistics Study Guide &
Test Bank, Calculator Instructions, Mean, Median, Probability, Sampling,
Confidence Intervals, Hypothesis Tests, ANOVA, Regression & Correlation
SECTION 1: DESCRIPTIVE STATISTICS AND DATA PRESENTATION (Questions 1-25)
Question 1
A retail company's monthly sales data (in thousands) for six months are: 45, 52, 48, 61, 55, and 49. What
is the arithmetic mean of this dataset?
A. 50.5
B. 51.7
C. 52.0
D. 49.8
Correct Answer: B
Explanation: The mean is calculated as (45+52+48+61+55+49)/6 = 310/6 = 51.67, which rounds to 51.7.
This measures central tendency.
Question 2
,A financial analyst records the daily percentage returns of a stock: -2.5%, 3.1%, 0.8%, -1.2%, and 4.3%.
What is the median return?
A. 0.8%
B. 0.9%
C. 1.2%
D. 3.1%
Correct Answer: A
Explanation: Arranging in order: -2.5, -1.2, 0.8, 3.1, 4.3. The median is the middle value, 0.8%. Median
resists extreme values.
Question 3
A dataset of customer ages has a mean of 35 and a median of 42. What does this discrepancy most likely
indicate about the distribution?
A. Symmetric distribution
B. Left-skewed distribution
C. Right-skewed distribution
D. Bimodal distribution
,Correct Answer: B
Explanation: When mean (35) is less than median (42), the distribution is left-skewed with a tail
extending toward lower values. This indicates negative skewness.
Question 4
A quality control manager measures the diameter of 200 manufactured bolts. The variance is 0.04 cm².
What is the standard deviation?
A. 0.02 cm
B. 0.04 cm
C. 0.20 cm
D. 0.40 cm
Correct Answer: C
Explanation: Standard deviation is the square root of variance: √0.04 = 0.20 cm. This measures typical
deviation from the mean in original units.
Question 5
, A portfolio manager reports that returns have a coefficient of variation of 0.25. If the mean return is
12%, what is the standard deviation?
A. 2.5%
B. 3.0%
C. 4.8%
D. 6.0%
Correct Answer: B
Explanation: CV = SD/Mean, so SD = CV × Mean = 0.25 × 12% = 3.0%. This measures relative variability
per unit of return.
Question 6
In a positively skewed distribution, which measure of central tendency is typically the largest?
A. Mode
B. Median
C. Mean
D. Range
Questions with Answers & Step-by-Step Solutions | Statistics Study Guide &
Test Bank, Calculator Instructions, Mean, Median, Probability, Sampling,
Confidence Intervals, Hypothesis Tests, ANOVA, Regression & Correlation
SECTION 1: DESCRIPTIVE STATISTICS AND DATA PRESENTATION (Questions 1-25)
Question 1
A retail company's monthly sales data (in thousands) for six months are: 45, 52, 48, 61, 55, and 49. What
is the arithmetic mean of this dataset?
A. 50.5
B. 51.7
C. 52.0
D. 49.8
Correct Answer: B
Explanation: The mean is calculated as (45+52+48+61+55+49)/6 = 310/6 = 51.67, which rounds to 51.7.
This measures central tendency.
Question 2
,A financial analyst records the daily percentage returns of a stock: -2.5%, 3.1%, 0.8%, -1.2%, and 4.3%.
What is the median return?
A. 0.8%
B. 0.9%
C. 1.2%
D. 3.1%
Correct Answer: A
Explanation: Arranging in order: -2.5, -1.2, 0.8, 3.1, 4.3. The median is the middle value, 0.8%. Median
resists extreme values.
Question 3
A dataset of customer ages has a mean of 35 and a median of 42. What does this discrepancy most likely
indicate about the distribution?
A. Symmetric distribution
B. Left-skewed distribution
C. Right-skewed distribution
D. Bimodal distribution
,Correct Answer: B
Explanation: When mean (35) is less than median (42), the distribution is left-skewed with a tail
extending toward lower values. This indicates negative skewness.
Question 4
A quality control manager measures the diameter of 200 manufactured bolts. The variance is 0.04 cm².
What is the standard deviation?
A. 0.02 cm
B. 0.04 cm
C. 0.20 cm
D. 0.40 cm
Correct Answer: C
Explanation: Standard deviation is the square root of variance: √0.04 = 0.20 cm. This measures typical
deviation from the mean in original units.
Question 5
, A portfolio manager reports that returns have a coefficient of variation of 0.25. If the mean return is
12%, what is the standard deviation?
A. 2.5%
B. 3.0%
C. 4.8%
D. 6.0%
Correct Answer: B
Explanation: CV = SD/Mean, so SD = CV × Mean = 0.25 × 12% = 3.0%. This measures relative variability
per unit of return.
Question 6
In a positively skewed distribution, which measure of central tendency is typically the largest?
A. Mode
B. Median
C. Mean
D. Range
