Exam 3: Descriptive Statistics: Numerical Measures

The ages of a sample of 8 faculty members selected from the School of Business Administration are shown below. Faculty Age 1 42 2 30 3 73 4 50 5 51 6 37 7 42 8 59 a. Compute the average age. b. Determine the mode. c. Compute the median age. d. Compute the standard deviation.

If a data set has an even number of observations, the median

The following data represent the daily demand y in thousands of units) and the unit price x in dollars) for a product. Daily Demand y) Unit Price x ) 47 1 39 3 35 5 44 3 34 6 20 8 15 16 30 6 a. Compute and interpret the sample covariance for the above data. b. Compute and interpret the sample correlation coefficient.

The variance of a sample was reported to be 144. The report indicated that = 7200. What has been the sample size?

The coefficient of variation is

A numerical measure of linear association between two variables is the

Which of the following symbols represents the mean of the population?

μ is an example of a

Exhibit 3-6 The closing stock price of MNM Corporation for the last 7 trading days is shown below. Day Stock Price 1 84 2 87 3 84 4 88 5 85 6 90 7 91 -Refer to Exhibit 3-6. The mean is

The value of the sum of the deviations from the mean, i.e., must always be

The mean of the sample

The following observations are given for two variables. y x 5 1 8 12 18 3 20 6 22 11 30 19 10 18 7 9 a. Compute and interpret the sample covariance for the above data. b. Compute the standard deviation for x. c. Compute the standard deviation for y. d. Compute and interpret the sample correlation coefficient.

The 75th percentile is referred to as the

Exhibit 3-3 A researcher has collected the following sample data. The mean of the sample is 5. 3 5 12 3 2 -Refer to Exhibit 3-3. The range is

The sample variance

The difference between the largest and the smallest data values is the

Which of the following symbols represents the size of the sample

In computing the mean of a sample, the value of ∑xi is divided by

Since the mode is the most frequently occurring data value, it

The following chart is an example of a