Straighterline Business Stats Final Exam Questions With Verified Answers

Straighterline Business Stats Final Exam Questions With Verified Answers The main purpose of descriptive statistics is to - answerSummarize data in a useful and informative manner Which word is NOT part of the definition of descriptive statistics? - answerPredicting 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. - answerc. Most students rated the instructor as poor or average. What type of variable is the number of robberies reported in your city? - answerQuantitative The Nielsen Ratings break down the number of people watching a particular television show by age. What level of measurement is age? - answerRatio What level of measurement is a person's "favorite sport"? - answerNominal The final rankings of the top 20 NCAA college basketball teams are an example of which level of measurement? - answerOrdinal What level of measurement is the Centigrade temperature scale? - answerInterval 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? - answerNominal A group of women tried five brands of fingernail polish and ranked them according to preference. What level of measurement is this? - answerOrdinal Shoe style is an example of what level of measurement? - answerNominal 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: - answerAdvertisement 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? - answer51.00 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? - answer2.76 A disadvantage of using an arithmetic mean to summarize a set of data is that __________. - answerIt 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? - answerMode 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? - answer54.5 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? - answerAbout 8,327 Which of the following measures of dispersion are based on deviations from the mean? - answerAll apply From the easiest to the hardest "ease of interpretation," rank the measures of dispersion. - answerRange, 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? - answer2.4 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? - answerAt least 75% Based on the Empirical Rule, what percent of the observations will lie between plus or minus two standard deviations from the mean? - answer95% What is the relationship between the variance and the standard deviation? - answerVariance is the square of the standard deviation. What statistics are needed to draw a box plot? - answerThe minimum, maximum, median, first and third quartiles A box plot shows ___________. - answerThe relative symmetry of a distribution for a set of data A dot plot can be used to show _________________. - answerThe distribution for a quantitative variable If a student places in the 99th percentile on an exam, she performed better than 99% of all students who completed the exam. Her performance is similar to a statement based on a __________. - answerCumulative frequency distribution To locate the percentile for a given observation in a data set, the data must be ___________. - answerSorted and listed from the minimum to the maximum values The test scores for a class of 147 students are computed. What is the location of the test score associated with the third quartile? - answer111 In a distribution, the second quartile corresponds with the __________. - answerMedian A dot plot shows ____________. - answerThe general shape of a distribution The range of the coefficient of skewness is ____________. - answerBoth positive and negative values A sample of experienced typists revealed that their mean typing speed is 87 words per minute and the median typing speed is 73 words per minute. The standard deviation of typing speed is 16.9 words per minute. What is the Pearson coefficient of skewness? - answer+2.5 If the coefficient of skewness is equal to zero, the shape of the distribution is __________. - answerSymmetric A large oil company is studying the number of gallons of gasoline purchased per customer at self-service pumps. The mean number of gallons is 10.0, with a standard deviation of 3.0 gallons. The median is 10.75 gallons. What is Pearson's coefficient of skewness in this instance? - answer-0.75 In a contingency table, we describe the relationship between ________. - answerTwo variables measured at the ordinal or nominal level The first card selected from a standard 52-card deck was a king. If it is NOT returned to the deck, what is the probability that a king will be drawn on the second selection? - answer3/51 or 0.0588 There are 10 AAA batteries in a box and 3 are defective. Two batteries are selected without replacement. What is the probability of selecting a defective battery followed by another defective battery? - answer1/15 or about 0.07 A listing of 100 family annual incomes is an example of statistics. - answerFalse