Question 1

The range of 17, 24, 24, 27, 29, 31, and 36 is:

Accepted Answer

A) 17 
B) 26 
C) 24 
D) 19 
A) 17 
B) 26 
C) 24 
D) 19

Question 2

Sales at Regan Real Estate totaled 10 homes for the month. They were as follows: $115,000, $119,000, $150,000, $175,000, $160,000, $104,000, $118,000, $148,000, $165,000, $195,000. Calculate the mean and the median.

Accepted Answer

Mean: ($115,000 + $119,000 + $150,000 +

Question 3

Hector Ramirez received three A's and one B in his college courses. What is his grade point average? Assume each course is three credits. A = 4.0, B = 3.0, C = 2.0, D = 1.0

Accepted Answer

A) 3.0 
B) 3.25 
C) 3.75 
D) 3.80 
E) None of these 
A) 3.0 
B) 3.25 
C) 3.75 
D) 3.80 
E) None of these

Question 4

Find the median from the following numbers: 15, 8, 7, 5, 4, 1, 9, 16

Accepted Answer

A) 7.5 
B) 7.0 
C) 8.0 
D) 8.5 
E) None of these 
A) 7.5 
B) 7.0 
C) 8.0 
D) 8.5 
E) None of these

Question 5

Frequency of occurrence is used in finding the weighted mean.

Accepted Answer

A) True 
 B)False

Question 6

Match the following terms with their definitions.
-Tally

Accepted Answer

A) Value that occurs most often 
B) Used in a frequency distribution 
C) Middle number is median 
D) Line graph 
E) Sum of all values / Number of values
F)Does not distort an average that has one or more extreme values
G)Height represents frequency
H)Current price x 100 base year price
I)360
J)Sum of products + sum of frequencies 
A) Value that occurs most often 
B) Used in a frequency distribution 
C) Middle number is median 
D) Line graph 
E) Sum of all values / Number of values
F)Does not distort an average that has one or more extreme values
G)Height represents frequency
H)Current price x 100 base year price
I)360
J)Sum of products + sum of frequencies

Question 7

The range is the difference between the highest and lowest values in a series or group of values.

Accepted Answer

A) True 
 B)False

Question 8

Sonny Industries reported record profits of 37% this fiscal year. Cost of sales was 38%, and operating expenses were 25%. How many degrees on a circle graph would each be given (round to the nearest tenth degree)?

Accepted Answer

profits = .37 × 360°

Question 9

How many degrees on a pie chart would each be given from the following (round to the nearest tenth)?
Wears Nike 42%
Wears Reebok 38%
Never wears sneakers 20%

Accepted Answer

.42 × 360° = 151.2°;

Question 10

A median will distort an average that has one or more extreme values.

Accepted Answer

A) True 
 B)False

Question 11

Calculate the weighted mean from the following sales: $400, $700, $300, $600, $300, $400, $700

Accepted Answer

A) $472.11 
B) $500.00 
C) $550.33 
D) $485.71 
E) None of these 
A) $472.11 
B) $500.00 
C) $550.33 
D) $485.71 
E) None of these

Question 12

Art's Hardware reported the following sales for the first 20 days of October:
 $$\begin{array} { | l | l | l | l | } 
\hline\$ 200 & \$ 700 & \$ 300 & \$ 100 \
\hline \$ 200 & \$ 400 & \$ 600 & \$ 200 \
\hline \$ 400 & \$ 200 & \$ 200 & \$ 500 \
\hline \$ 600 & \$ 300 & \$ 600 & \$ 400 \
\hline 600 & \$ 300 & \$ 200 & \$ 100 \
\hline
\end{array}$$ Prepare a frequency distribution for Art.

Accepted Answer

\[\begin{array} { | l | l | l | } 
\hlin

Question 13

Abby McDonald took five three-credit courses at Glenn Community College. She received a C in Accounting and 4 B's (Management, Logic, Algebra, and Business Law). What is her grade point average? (Assume A = 4.0, B = 3.0, C = 2.0.)

Accepted Answer

This can be done based on clas

Question 14

Prepare a bar chart of the following data:
 $$\begin{array} { | l | l | l | l | l | } 
\hline 600 & 800 & 900 & 100 & 300 \
\hline 900 & 200 & 800 & 900 & 600 \
\hline 1,000 & 400 & 600 & 800 & 700 \
\hline 300 & 500 & 500 & 600 & 900 \
\hline
\end{array}$$

Accepted Answer

@#IMG-DLM& 100 = 1, 200 = 1, 300 = 2, 40

Question 15

Wayne Myrick's salaries at the beginning of each decade are listed below. What was the mean of his salaries? $98,500, $84,600, $79,300, $69,000, $48,750

Accepted Answer

($98,500 + $84,600 +

Question 16

The height of a bar chart represents the frequency.

Accepted Answer

A) True 
 B)False

Question 17

Today, a new truck costs $18,000. In 1980, the truck cost $9,000. What is the price relative?

Accepted Answer

($18,000/$

Question 18

Russell Co. reported sales of $400,000 in 2018. This compared to sales of $180,000 in 2017 and $100,000 in 2016. Construct a line graph for Russell Co.

Accepted Answer

@#IMG-DLM& Graph in

Question 19

Phil's Barbeque sold the following dinners in one hour. $$\begin{array} { l r r } 
3 \text { rib slabs } & \$ 14.95 & \text { each } \
2 \text { pork steaks } & 9.95 & \text { each } \
3 \text { harmburgers } & 6.95 & \text { each }
\end{array}$$ What was the average dollar mean?

Accepted Answer

A) $10.70 
B) $12.97 
C) $6.35 
D) $10.00 
E) None of these 
A) $10.70 
B) $12.97 
C) $6.35 
D) $10.00 
E) None of these

Question 20

Match the following terms with their definitions.
-Weighted mean

Accepted Answer

A) Value that occurs most often 
B) Used in a frequency distribution 
C) Middle number is median 
D) Line graph 
E) Sum of all values / Number of values
F)Does not distort an average that has one or more extreme values
G)Height represents frequency
H)Current price x 100 base year price
I)360
J)Sum of products + sum of frequencies 
A) Value that occurs most often 
B) Used in a frequency distribution 
C) Middle number is median 
D) Line graph 
E) Sum of all values / Number of values
F)Does not distort an average that has one or more extreme values
G)Height represents frequency
H)Current price x 100 base year price
I)360
J)Sum of products + sum of frequencies

Exam 22: Business Statistics

The range of 17, 24, 24, 27, 29, 31, and 36 is:

Sales at Regan Real Estate totaled 10 homes for the month. They were as follows: $115,000, $119,000, $150,000, $175,000, $160,000, $104,000, $118,000, $148,000, $165,000, $195,000. Calculate the mean and the median.

Hector Ramirez received three A's and one B in his college courses. What is his grade point average? Assume each course is three credits. A = 4.0, B = 3.0, C = 2.0, D = 1.0

Find the median from the following numbers: 15, 8, 7, 5, 4, 1, 9, 16

Frequency of occurrence is used in finding the weighted mean.

Match the following terms with their definitions. -Tally

The range is the difference between the highest and lowest values in a series or group of values.

Sonny Industries reported record profits of 37% this fiscal year. Cost of sales was 38%, and operating expenses were 25%. How many degrees on a circle graph would each be given (round to the nearest tenth degree)?

How many degrees on a pie chart would each be given from the following (round to the nearest tenth)? Wears Nike 42% Wears Reebok 38% Never wears sneakers 20%

A median will distort an average that has one or more extreme values.

Calculate the weighted mean from the following sales: $400, $700, $300, $600, $300, $400, $700

Art's Hardware reported the following sales for the first 20 days of October: \ 200 \ 700 \ 300 \ 100 \ 200 \ 400 \ 600 \ 200 \ 400 \ 200 \ 200 \ 500 \ 600 \ 300 \ 600 \ 400 600 \ 300 \ 200 \ 100 Prepare a frequency distribution for Art.

Abby McDonald took five three-credit courses at Glenn Community College. She received a C in Accounting and 4 B's (Management, Logic, Algebra, and Business Law). What is her grade point average? (Assume A = 4.0, B = 3.0, C = 2.0.)

Prepare a bar chart of the following data: 600 800 900 100 300 900 200 800 900 600 1,000 400 600 800 700 300 500 500 600 900

Wayne Myrick's salaries at the beginning of each decade are listed below. What was the mean of his salaries? $98,500, $84,600, $79,300, $69,000, $48,750

The height of a bar chart represents the frequency.

Today, a new truck costs $18,000. In 1980, the truck cost $9,000. What is the price relative?

Russell Co. reported sales of $400,000 in 2018. This compared to sales of $180,000 in 2017 and $100,000 in 2016. Construct a line graph for Russell Co.

Phil's Barbeque sold the following dinners in one hour. 3 rib slabs \ 14.95 each 2 pork steaks 9.95 each 3 harmburgers 6.95 each What was the average dollar mean?

Match the following terms with their definitions. -Weighted mean

Whole Numbers: How to Dissect and Solve Word Problems

Fractions

Decimals

Banking

Solving for the Unknown: a How-To Approach for Solving Equations

Percents and Their Applications

Discounts: Trade and Cash

Markups and Markdowns: Perishables and Breakeven Analysis

Payroll

Simple Interest

Promissory Notes, Simple Discount Notes, and the Discount Process

Compound Interest and Present Value

Annuities and Sinking Funds

Installment Buying

The Cost of Home Ownership

How to Read, Analyze, and Interpret Financial Reports

Depreciation

Inventory and Overhead

Sales, Excise, and Property Taxes

Life, Fire, and Auto Insurance

Stocks, Bonds, and Mutual Funds

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