Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024
Stats Final Exam Study Questions and
Answers 100% Pass
The manager of the customer service division of a major consumer electronics company is interested in
determining whether the customers who have purchased a Blu-ray player made by the company over
the past 12 months are satisfied with their products. What do the possible responses to the question
"Are you happy, indifferent, or unhappy with the performance per dollar spent on the Blu-ray player?"
result in? - ANSWER✔✔-ordinal scale
Jared was working in a bank project, and he wanted to check the percentage of defaults on the loans he
gave out to customers. He reviewed previous records to analyze the results. What type of data collection
would this be? - ANSWER✔✔-capturing data generated by ongoing business activity
When studying the simultaneous responses to two categorical questions, what should you set up? -
ANSWER✔✔-
In general, which of the following descriptive summary measures cannot be easily approximated from a
boxplot? - ANSWER✔✔-variance
Which statement about right-skewed distributions is correct? - ANSWER✔✔-The distance from Q1 to Q2
is less than the distance from Q2 to Q3
Determine which statement about the covariance is correct - ANSWER✔✔-covariance can be positive or
negative
Copyright ©Stuvia International BV 2010-2024 Page 1/6
, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024
If the data is normally distributed, then it's "normal probability plot" would be - ANSWER✔✔-an upward
sloping straight line
Which is true about the standard error of the mean? - ANSWER✔✔-all of the above
If you toss a coin three times how many different outcomes are possible? - ANSWER✔✔-8
If n = 10 and = 0.70, then the mean of the binomial distribution is - ANSWER✔✔-7.0
The difference between the third quartile and the first quartile is known as the _______. - ANSWER✔✔-
interquartile range
If two events are mutually exclusive, what is the probability that both occur at the same time? -
ANSWER✔✔-0.0
Your investment of $50,000 increased to $65,000 after one year and fell to $55,000 in the second year.
What is the geometric rate of return on your investment? - ANSWER✔✔-1.49%
The Table reports the cost of electricity in small businesses during a recent month. What percentage of
costs are between 180 and 280?
Cost
frequency
80 to 130
5
130 to 180
6
Copyright ©Stuvia International BV 2010-2024 Page 2/6
Stats Final Exam Study Questions and
Answers 100% Pass
The manager of the customer service division of a major consumer electronics company is interested in
determining whether the customers who have purchased a Blu-ray player made by the company over
the past 12 months are satisfied with their products. What do the possible responses to the question
"Are you happy, indifferent, or unhappy with the performance per dollar spent on the Blu-ray player?"
result in? - ANSWER✔✔-ordinal scale
Jared was working in a bank project, and he wanted to check the percentage of defaults on the loans he
gave out to customers. He reviewed previous records to analyze the results. What type of data collection
would this be? - ANSWER✔✔-capturing data generated by ongoing business activity
When studying the simultaneous responses to two categorical questions, what should you set up? -
ANSWER✔✔-
In general, which of the following descriptive summary measures cannot be easily approximated from a
boxplot? - ANSWER✔✔-variance
Which statement about right-skewed distributions is correct? - ANSWER✔✔-The distance from Q1 to Q2
is less than the distance from Q2 to Q3
Determine which statement about the covariance is correct - ANSWER✔✔-covariance can be positive or
negative
Copyright ©Stuvia International BV 2010-2024 Page 1/6
, Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024
If the data is normally distributed, then it's "normal probability plot" would be - ANSWER✔✔-an upward
sloping straight line
Which is true about the standard error of the mean? - ANSWER✔✔-all of the above
If you toss a coin three times how many different outcomes are possible? - ANSWER✔✔-8
If n = 10 and = 0.70, then the mean of the binomial distribution is - ANSWER✔✔-7.0
The difference between the third quartile and the first quartile is known as the _______. - ANSWER✔✔-
interquartile range
If two events are mutually exclusive, what is the probability that both occur at the same time? -
ANSWER✔✔-0.0
Your investment of $50,000 increased to $65,000 after one year and fell to $55,000 in the second year.
What is the geometric rate of return on your investment? - ANSWER✔✔-1.49%
The Table reports the cost of electricity in small businesses during a recent month. What percentage of
costs are between 180 and 280?
Cost
frequency
80 to 130
5
130 to 180
6
Copyright ©Stuvia International BV 2010-2024 Page 2/6
