MAT 150 Graded Quiz 1 Questions and Answers,100% CORRECT

MAT 150 Graded Quiz 1 Questions and Answers 1. Which word is NOT part of the definition of descriptive statistics? Select one: a. Organizing b. Analyzing c. Presenting d. Predicting 2. The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called . Select one: a. Statistics b. Descriptive statistics c. Inferential statistics d. Levels of measurement Feedback The correct answer is: Statistics 3. 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. Select one: a. The instructor's performance was great! b. The instructor's performance was inferior. c. Most students rated the instructor as poor or average. d. No conclusions can be made. Feedback The correct answer is: Most students rated the instructor as poor or average. 4. Shoe style is an example of what level of measurement? Select one: a. Nominal b. Ordinal c. Interval d. Ratio Feedback The correct answer is: Nominal 5. The Equal Employment Opportunity Act requires employers to classify their employees by gender and national origin. Which level of measurement is this? Select one: a. Nominal b. Ordinal c. Interval d. Ratio Feedback The correct answer is: Nominal 6. The Nielsen Ratings break down the number of people watching a particular television show by age. What level of measurement is age? Select one: a. Nominal b. Ordinal c. Interval d. Ratio Feedback The correct answer is: Ratio 7. What type of variable is "pounds of popcorn" served at a movie theater? Select one: a. Interval b. Ratio c. Discrete d. Continuous Feedback The correct answer is: Continuous 8. The names of the positions in a corporation, such as chief operating officer or controller, are examples of what type of variable? Select one: a. Qualitative b. Quantitative c. Interval d. Ratio Feedback The correct answer is: Qualitative 9. Your height and weight are examples of which level of measurement? Select one: a. Nominal b. Ordinal c. Interval d. Ratio Feedback The correct answer is: Ratio 10. The reported unemployment is 5.5% of the population. What measurement scale is used to measure unemployment? Select one: a. Nominal b. Ordinal c. Interval or ratio d. Descriptive 11. The incomes of 50 loan applicants are obtained. Which level of measurement is income? Select one: a. Nominal b. Ordinal c. Interval d. Ratio Feedback The correct answer is: Ratio 12. 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: Select one: a. Sample was only 5 dentists. b. Sample of dentists is clearly explained. c. Advertisement does not include the total number of dentists surveyed. d. Conclusion is not illustrated with a graph. Feedback The correct answer is: Advertisement does not include the total number of dentists surveyed. 13. On a finance exam, 15 accounting majors had an average grade of 90. On the same exam, 7 marketing majors averaged 85, and 10 finance majors averaged 93. What is the weighted mean for all 32 students taking the exam? Select one: a. 89.84 b. 89.33 c. 89.48 d. 10.67 Feedback The correct answer is: 89.84 14. What is the median of 26, 30, 24, 32, 32, 31, 27, and 29? Select one: a. 32 b. 29 c. 30 d. 29.5 Feedback The correct answer is: 29.5 15. For a data set with an odd number of observations that have been sorted from smallest to largest values, where is the median located? Select one: a. n b. n/2 c. (n + 1)/2 d. n + ½ Feedback The correct answer is: (n + 1)/2 16. A question in a market survey asks for a respondent's favorite car color. Which measure of central location should be used to summarize this question? Select one: a. Mode b. Median c. Mean d. Standard deviation Feedback The correct answer is: Mode 17. A bottling company offers three kinds of delivery service: instant, same day, and within five days. The profit per delivery varies according to the kind of delivery. The profit for an instant delivery is less than the other kinds because the driver has to go directly to a grocery store with a small load and return to the bottling plant. To find out what effect each type of delivery has on the profit picture, the company summarized the data in the following table based on deliveries for the previous quarter. What is the weighted mean profit per delivery? Select one: a. $72 b. $110 c. $142 d. $97 Feedback The correct answer is: $97 18. 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? Select one: a. 54.5 b. 141.0 c. 97.25 d. 109.0 Feedback The correct answer is: 54.5 19. For any data set, which measures of central location have only one value? Select one: a. Mode and median b. Mode and mean c. Mode and standard deviation d. Mean and median Feedback The correct answer is: Mean and median 20. Based on the Empirical Rule, what percent of the observations will lie between plus or minus two standard deviations from the mean? Select one: a. 95% b. 5% c. 68% d. 2.5% Feedback The correct answer is: 95% 21. Which measure of dispersion disregards the algebraic signs (plus and minus) of each difference between X and the mean? Select one: a. Standard deviation b. Mean deviation c. Arithmetic mean d. Variance Feedback The correct answer is: Mean deviation 22. Ten experts rated a newly developed chocolate chip cookie on a scale of 1 to 50. Their ratings were: 34, 35, 41, 28, 26, 29, 32, 36, 38, and 40. What is the mean deviation of the ratings? Select one: a. 8.00 b. 4.12 c. 12.67 d. 0.75 Feedback The correct answer is: 4.12 23. What is a disadvantage of the range as a measure of dispersion? Select one: a. It is based on only two observations. b. It can be distorted by a large mean. c. It is not in the same units as the original data. d. It has no disadvantage. Feedback The correct answer is: It is based on only two observations 24. For the past week, a company's common stock closed with the following prices: $61.5, $62, $61.25, $60.875, and $61.5. What was the price range? Select one: a. $1.250 b. $1.750 c. $1.125 d. $1.875 Feedback The correct answer is: $1.125 25. Which of the following measures of dispersion are based on deviations from the mean? Select one: a. Variance b. Standard deviation c. Mean deviation d. All apply Feedback The correct answer is: All apply