INTRODUCTION TO BUSINESS STATISTICS 7TH EDITION BY RONALD WEIERS – TEST BANK
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Sample
Test
Chapter 3: Statistical Description of Data
Student: ___________________________________________________________________________
1. True
or False
Characteristics of the population are referred to as parameters,
while characteristics of the sample are referred to as statistics.
True False
2. True
or False
When a distribution has more values to the left and tails to the
right, we say it is skewed negatively.
True False
3. True
or False
When a distribution has more values to the right and tails to
the left, we say it is skewed positively.
True False
4. True
or False
The weights for a weighted mean calculation must sum up to 1.0.
True False
5. True
or False
The mode is defined as the value that has just as many values
above it as it has below it.
True False
6. True
or False
Measures of dispersion describe typical values in the data.
True False
7. True
or False
The midrange is the average of the two middle data values.
True False
8. True
or False
Percentiles divide the values into 100 parts of equal size, each
comprising 1% of the observations.
True False
9. True
or False
The mean of a set of values describes the 50th percentile.
True False
10. True
or False
Standardized values have no units, even though the original
data, the standard deviation, and the mean may each represent units such as
dollars, hours, or pounds.
True False
11. True
or False
A standardized value that is either a large positive number or a
large negative number is a relatively usual occurrence.
True False
12. True
or False
The range is a measure of dispersion that includes all the
values in the data set in the calculation.
True False
13. True
or False
The box-and-whisker plot is a graphical device that
simultaneously displays measures of central tendency and dispersion.
True False
14. True
or False
The Empirical Rule states that approximately 68% of the
observations in any distribution will fall within one standard deviation of the
mean.
True False
15. True
or False
Measures of central tendency and dispersion determined from
frequency distributions are only approximations of the actual values.
True False
16. Which
of the following is not a measure of central tendency?
17. Mean
absolute deviation
18. Arithmetic
mean
19. Weighted
mean
20. Median
21. Mode
17. Which
of the following is not a measure of dispersion?
18. Mean
absolute deviation
19. Quantiles
20. Weighted
mean
21. Range
22. Standard
deviation.
18. The
measure of central tendency that is least affected by extreme values is the:
19. the
weighted mean.
20. the
mean.
21. the
variance.
22. the
standard deviation.
23. the
median.
19. The
measure of central tendency that is most affected by extreme values is the:
20. range.
21. mean.
22. median.
23. mode.
24. coefficient
of variation.
20. Which
of the following statements is true regarding the normal distribution?
21. The
mean is greater than the median and the median is greater than the mode.
22. The
mean is less than the median and the median is less than the mode.
23. There
is no difference in the values of the mean, median, and mode.
24. The
mean is greater than the mode, which in turn is greater than the median.
25. The
mean is less than the mode, which in turn is less than the median.
21. In a
positively skewed distribution, the:
22. mean
is greater than the median and the median is greater than the mode.
23. mean
is greater than the median and the median is smaller than the mode.
24. mean
is smaller than the median and the median is greater than the mode.
25. mean
is smaller than the median and the median is smaller than the mode.
26. mean
is equal to the median and the median is equal to the mode.
22. In a
negatively skewed distribution, the:
23. mean
is greater than the median and the median is greater than the mode.
24. mean
is greater than the median and the median is smaller than the mode.
25. mean
is smaller than the median and the median is greater than the mode.
26. mean
is smaller than the median and the median is smaller than the mode.
27. mean
is equal to the median and the median is equal to the mode.
23. When
a distribution is bell-shaped with the left half identical to the right half,
it is:
24. skewed
positively
25. symmetrical
26. equilateral
27. skewed
negatively
28. not
applicable for Chebyshev’s theorem
24. The
value in the data set that occurs with the greatest frequency is known as the:
25. mode.
26. median.
27. mean.
28. weighted
mean.
29. variance.
25. The
average score for a class of 25 students was 75. If the 15 female students in
the class averaged 70, then the male students in the class averaged:
26. 85.0
27. 82.5
28. 77.5
29. 75.0
30. 70.0
26. Which
of the following statements are true for the following data values: 9, 7, 8, 6,
9, 10, and 14?
27. The
mean, median and mode are all equal
28. Only
the mean and median are equal
29. Only
the mean and mode are equal
30. Only
the median and mode are equal
27. Which
of the measures of central tendency would best represent the data below?
1. Range
2. Mean
3. Median
4. Mode
5. Standard
deviation
28. Which
of the following statements is correct?
29. The
mode gives equal consideration to even very extreme values in the data.
30. There
will be just one value for the mean, median , and mode in the data set.
31. The
median can be strongly influenced by just one or two very low or high values.
32. The
mean is able to make the most complete use of the data when compared to the
median and mode.
33. None
of the above are correct.
29. Which
of the following statements is correct?
30. The
range is found by taking the difference between the high and low values and
dividing by 2.
31. The
interquartile range is found by taking the difference between the 1st and 3rd
quartiles and dividing that value by 2.
32. The
standard deviation is expressed in terms of the original units of measurement
but the variance is not.
33. The
values of the standard deviation may be either positive or negative, while the
value of the variance will always be positive.
34. None
of these statements is true.
30. Which
of the following statements is correct?
31. The
mean is a measure of the deviation in a data set.
32. The
standard deviation is a measure of dispersion.
33. The
range is a measure of central tendency.
34. The
median is a measure of dispersion.
35. The
variance is a measure of central tendency.
31. The
difference between the largest and smallest values in a data set is called the:
32. standard
deviation.
33. variance.
34. coefficient
of variation.
35. range.
36. mean.
32. Deciles:
33. are
an array of values in 10 parts of equal size.
34. indicate
the median with the fifth decile.
35. divide
the values into four parts of equal size.
36. indicate
the median with the second decile.
37. both
A and B are correct.
33. Which
of the following is the simplest measure of dispersion?
34. Range
35. Mean
absolute deviation
36. Standard
deviation
37. Coefficient
of variation
38. Variance
34. Which
of the following is not a measure of variability?
35. The
range
36. The
variance
37. The
standard deviation
38. The
median
39. The
interquartile range
35. Expressed
in percentiles, the interquartile range is the difference between the:
36. 15th
and 65th percentiles
37. 20th
and 70th percentiles
38. 25th
and 75th percentiles
39. 30th
and 80th percentiles
40. 35th
and 85th percentiles
36. A
sample of 15 observations has a standard deviation of 4. The sum of the squared
deviations from the sample mean is:
37. 19
38. 56
39. 60
40. 224
41. 240
37. Which
of the following is not a correct statement?
38. The
coefficient of variation allows us to compare two sets of data based on
different measurement units.
39. Chebyshev’s
theorem applies only to normal distributions.
40. Standardized
values have no units of measure.
41. For
distributions that are bell-shaped and symmetric, about 68% of the observations
will fall within one standard deviation of the mean.
42. The
vertical line within the box in the box-and-whisker plot represents the median.
38. Chebyshev’s
Theorem states that the percentage of observations in a data set that should
fall within five standard deviations of their mean is:
39. 90%.
40. at
least 90%.
41. 96%.
42. at
least 96%.
43. 25%.
39. The
Empirical Rule states that the percentage of observations in a data set
(providing that the data set has a bell-shaped and symmetric distribution) that
fall within one standard deviation of their mean is approximately:
40. 68%
41. 75%
42. 95%
43. 99%
40. A
study was conducted of the 12-month earnings per share for two categories of
airline companies.
Based on the above data, which of the following statements is
correct?
2. The
large airlines have a coefficient of variation of 2.44 while the small airlines
have a coefficient of variation of 3.64.
3. Because
the large airlines have mean earnings per share of 3.40 and the small airlines
have mean earnings per share of 1.11, the large airlines have the largest
coefficient of variation.
4. Because
the large airlines have mean earnings per share of 3.54 and the small airlines
have mean earnings per share of 1.71, the large airlines have the largest
coefficient of variation.
5. The
large airlines have a coefficient of variation of 0.85 and the small airlines
have a coefficient of variation of 2.72.
6. The
large airlines have a coefficient of variation of 0.81 and the small airlines
have a coefficient of variation of 1.17.
41. The
length of the box in the box-and-whisker plot portrays the:
42. mean
43. median
44. range
45. interquartile
range
42. For a
set of data, the mean is 50 and the standard deviation is 10. In the raw data,
one of the observations is equal to 74. After the data are standardized, what
will be the standardized value of this observation?
43. +7.4
44. -7.4
45. +2.4
46. -2.4
43. When
the standard deviation is expressed as a percentage of the mean, the result is
the:
44. coefficient
of correlation.
45. coefficient
of determination.
46. coefficient
of variation.
47. coefficient
of dispersion.
44. Which
of the following statements is not correct?
45. Measures
of central tendency determined from frequency distributions will only be
approximations of the actual values.
46. Measures
of dispersion determined from frequency distributions will only be
approximations of the actual values.
47. In
grouped data, each observation is given the value of its classification’s
mid-point.
48. When
data are grouped, the value of each individual observation is lost.
49. All of
the above statements are correct.
45. If
the coefficient of correlation , then the best-fit linear equation will
include:
46. 75%
of the data points.
47. 85%
of the data points.
48. 95%
of the data points.
49. all
of the data points.
46. The
coefficient of correlation r is a number that indicates the:
47. direction
of the relationship between the dependent variable y and the independent
variable x.
48. strength
of the relationship between the dependent variable y and the independent
variable x.
49. proportion
of the variation in the dependent variable y that is explained by the
independent variable x.
50. Only
A and B are correct.
51. A, B,
and C are all correct.
47. If
the coefficient of correlation r = 0, then:
48. the
slope of the regression line is zero.
49. there
is no linear relationship whatsoever between the dependent variable y and the
independent variable x.
50. the
coefficient of determination is zero.
51. All
of these are correct.
52. None
of these is correct.
48. The
numerical value of the coefficient of determination r 2
49. is
the proportion of the variation in the dependent variable y that is explained
by the best-fit linear equation.
50. is
the proportion of the variation in the independent variable x that is explained
by the best-fit linear equation.
51. indicates
the direction of the relationship between the dependent variable y and the
independent variable x.
52. Both
A and B are correct.
53. A, B,
and C are all correct.
49. A
perfect straight line sloping upward would produce a correlation coefficient
equal to:
50. +1.
51. -1.
52. +2.
53. -2.
50. The
difference between the mean of a data set and the individual values of that set
is known as the:
51. variance
52. standard
deviation
53. residual
54. mean
absolute deviation
55. quartile
51. Heidi
has been keeping track of what she spends to eat out. The last week’s
expenditures (in dollars) for meals eaten out were 3.69, 3.95, 4.19, 8.91,
5.49, 12.53, and 5.66. Calculate the mean amount she spent on meals last week.
________________________________________
52. A
sample of 10 U.S. families spent the following amounts (in dollars) on
groceries during a one-week period: 31.36, 68.76, 12.25, 10.85, 24.89, 31.48,
49.52, 48.24, 30.04, and 25.63. Find the median amount spent on groceries.
________________________________________
53. For
each of the past 10 years, the U.S. unemployment rate has been recorded as
follows: 6.7, 5.5, 5.7, 5.2, 4.5, 3.8, 3.8, 3.6, 3.5, and 4.9. Find the mean
unemployment rate for this period.
________________________________________
54. A
sample of interest rates on unpaid credit card balances yields the following
data: 13.25, 13.67, 13.60, 13.29, 12.97, 12.90, 12.76, 12.66, 12.58, 12.77, and
12.91. Find the median interest rate.
________________________________________
55. You
are interested in beginning a small business enterprise and one aspect of your
research is to look at the loan record for stockholders of small business
corporations. A14-year record of net loans from stockholders of small business
corporations (in billions of dollars) are as follows: 1.6, -0.2, 1.0, 1.4,
-0.1, 0.6, 1.5, 0.9, 2.2, 1.3, 1.9, 1.9, 2.8, and 5.0.
Calculate the mean.
____________________ billion
________________________________________
56. You
are interested in beginning a small business enterprise and one aspect of your
research is to look at the loan record for stockholders of small business
corporations. A14-year record of net loans from stockholders of small business
corporations (in billions of dollars) are as follows: 1.6, -0.2, 1.0, 1.4,
-0.1, 0.6, 1.5, 0.9, 2.2, 1.3, 1.9, 1.9, 2.8, and 5.0.
Calculate the median.
____________________ billion
________________________________________
57. You
are interested in beginning a small business enterprise and one aspect of your
research is to look at the loan record for stockholders of small business
corporations. A14-year record of net loans from stockholders of small business
corporations (in billions of dollars) are as follows: 1.6, -0.2, 1.0, 1.4,
-0.1, 0.6, 1.5, 0.9, 2.2, 1.3, 1.9, 1.9, 2.8, and 5.0.
Calculate the mode.
____________________ billion
________________________________________
58. A
student scores 89, 72, 93, and 84 on four exams during the semester and 96 on
the final exam. If the final is weighted double and the four others weighted
equally, what would the student’s final average be?
________________________________________
59. The
average profit per unit for Product A is $5.32, Product B is $7.98, and Product
C is $9.69. If the percentages of each sold are 36, 29, and 35 respectively,
what is the weighted mean profit per unit?
________________________________________
60. Sample
values of 13 monthly sales figures (in thousands of dollars) are: 6, 5, 6, 6,
7, 8, 9, 10, 10, 10, 9, 9, and 6.
What is the mean sales figure?
____________________ thousand
________________________________________
61. Sample
values of 13 monthly sales figures (in thousands of dollars) are: 6, 5, 6, 6,
7, 8, 9, 10, 10, 10, 9, 9, and 6.
What is the median sales figure?
____________________ thousand
________________________________________
62. Sample
values of 13 monthly sales figures (in thousands of dollars) are: 6, 5, 6, 6,
7, 8, 9, 10, 10, 10, 9, 9, and 6.
What is the mode?
____________________ thousand
________________________________________
63. Consider
the following sample data: 4, 14, 6, 9, 21, 3, 7, and 10.
Calculate the mean.
________________________________________
64. Consider
the following sample data: 4, 14, 6, 9, 21, 3, 7, and 10.
Calculate the median.
________________________________________
65. Find
the range for the following data: 9, 94, 48, 62, 11, 50, and 6.
________________________________________
66. Find
the midrange for the following data: 14, 99, 53, 67, 16, 55, and 11.
________________________________________
67. A
sample of 13 monthly sales figures (in thousands of dollars) are: 10, 6, 5, 10,
9, 7, 10, 9, 6, 8, 9, 6, and 6.
Calculate the mean absolute deviation.
________________________________________
68. A
sample of 13 monthly sales figures (in thousands of dollars) are: 10, 6, 5, 10,
9, 7, 10, 9, 6, 8, 9, 6, and 6.
Calculate the sample standard deviation.
________________________________________
69. A
sample of 13 monthly sales figures (in thousands of dollars) are: 10, 6, 5, 10,
9, 7, 10, 9, 6, 8, 9, 6, and 6.
What is the sample variance?
________________________________________
70. A
sample of 13 monthly sales figures (in thousands of dollars) are: 10, 6, 5, 10,
9, 7, 10, 9, 6, 8, 9, 6, and 6.
What is the coefficient of variation?
________________________________________
71. The
top twenty TV markets in the United States are:
What is the median?
____________________ (Remove all commas from your answer before
submitting).
________________________________________
72. The
top twenty TV markets in the United States are:
What is the first quartile?
____________________ (Remove all commas from your answer before
submitting).
________________________________________
73. In
preparation for a pizza party, the students at State University surveyed the
price of medium-sized pizzas for local restaurants:
What is the range of these prices?
________________________________________
74. In
preparation for a pizza party, the students at State University surveyed the
price of medium-sized pizzas for local restaurants:
What is the mid-range?
________________________________________
75. Consider
the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.
Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and
14. What is the range of this data sample?
________________________________________
76. Consider
the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.
Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and
14. What is the mean absolute deviation?
________________________________________
77. Consider
the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.
Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and
14. What is the standard deviation?
________________________________________
78. Consider
the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.
Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and
14. What is the variance?
________________________________________
79. What
is the coefficient of variation of the following sample data set: 12, 9, 5, 23,
11, 8, 16, and 6?
________________________________________
80. In a
test of a lifelong brand of tires, a survey revealed that the mean life was
35,000 miles and the standard deviation was 7,083 miles. If the shape of the
population distribution is not known, approximately what percentage of the
tires last less than 20,834 miles?
________________________________________
81. The
mean of fifty sales receipts is $58.35 and the standard deviation is $10.38.
Using Chebyshev’s theorem, determine how many sales receipts were between $37.59
and $79.11.
________________________________________
82. Your
final statistics grade will be based on your final exam score, a homework
score, and a final project, each weighted according to the following table.
Type Score
Weight
Exam 94
50%
Project
89 35%
Homework
83 15%
Determine your final grade.
________________________________________
83. The
following table represents the number of days that a hardware store experienced
various daily demands for a particular hammer during the past 65 days of
business.
Daily Demand Number of Days
0
10
1
15
2
12
3
18
4
16
5
4
Determine the average daily demand over this time period.
________________________________________
84. The
frequency of cell phone call per day on a certain account is tabulated in the
following table:
Calls per Day Number of Days
0-2 12
3-5 8
6-8 5
9-11 3
12-14 1
15-17 1
Calculate the average number of calls per day.
________________________________________
85. The
frequency of cell phone call per day on a certain account is tabulated in the
following table:
Calls per Day Number of Days
0-2 12
3-5 8
6-8 5
9-11 3
12-14 1
15-17 1
Calculate the standard deviation of calls per day.
________________________________________
86. A
company counted the number of their employees in each of the following age
classes. According to this distribution, what is the average age of the
employees in the company?
Age Range
Number of Employees
20-24 8
25-29 37
30-34 25
35-39 48
40-44 27
45-49 10
________________________________________
87. A
survey asked 200 respondents how many children under the age of 18 live in the
household. The following table summarizes the results.
Number of Children
Number of Households
0
40
1
24
2
62
3
26
4
32
5
16
Total 200
Calculate the mean number of children in the distribution.
________________________________________
88. Let x
be the class mark for each of the intervals below.
Find the sample mean for these grouped data.
________________________________________
89. Let x
be the class mark for each of the intervals below.
Compute the sample standard deviation for the data above.
________________________________________
90. The
salaries (in thousands of dollars) for a sample of 13 employees of a firm are:
26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.
Compute the mean salary.
________________________________________
91. The
salaries (in thousands of dollars) for a sample of 13 employees of a firm are:
26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.
Compute the median salary.
________________________________________
92. The
salaries (in thousands of dollars) for a sample of 13 employees of a firm are:
26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.
Compute the variance of the salaries.
________________________________________
93. The
salaries (in thousands of dollars) for a sample of 13 employees of a firm are:
26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.
Compute the standard deviation of the salaries.
________________________________________
94. The
salaries (in thousands of dollars) for a sample of 13 employees of a firm are:
26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.
Compute the coefficient of variation.
________________________________________
95. The
salaries (in thousands of dollars) for a sample of 13 employees of a firm are:
26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.
Compute the range.
________________________________________
96. The
salaries (in thousands of dollars) for a sample of 13 employees of a firm are:
26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.
Compute the first quartile.
________________________________________
97. The
salaries (in thousands of dollars) for a sample of 13 employees of a firm are:
26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.
Compute the third quartile.
________________________________________
98. The
salaries (in thousands of dollars) for a sample of 13 employees of a firm are:
26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.
Compute the 90th percentile.
________________________________________
99. A
monthly report to the Texas Department of Health, division of Water Hygiene,
contained the following water production data in thousands of gallons:
Calculate the interquartile range.
________________________________________
100.
Measures of ____________________ are numbers that describe
typical values in the data.
________________________________________
101.
Measures of ____________________ are numbers that describe the
scatter of the data or the extent to which the data values are spread out.
________________________________________
102.
The coefficients of correlation and determination are two
statistical measures of ____________________.
________________________________________
103.
The mean is one of the most frequently used measures of
____________________.
________________________________________
104.
The measure of dispersion which sums the absolute values of the
differences between the individual values and the mean, and then divides by the
number of individual values is known as the ____________________.
________________________________________
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