Exam 22: Business Statistics

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The students in Professor Jim's Chemistry class had the following scores on their exams (out of 100 pts): 13, 77, 77, 78, 80, 80, 83, 85, 90, 93, 94, 94, and 94. Find the following (round answer to nearest tenth where necessary): A. Mean B. Median C. Mode D. Which method seems to give the best estimate of average? Why?

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The median is the middle value for an even number of values.

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Intervals can be used with bar graphs.

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Assume the mean useful life of a particular light bulb is 2,000 hours and is normally distributed with a standard deviation of 300 hours. Calculate the useful life of the light bulb within two standard deviations of the mean.

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Match the following terms with their definitions. -Mean

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The range of 105, 100, 79, 86, 101, 94, 98, 87, and 83 is:

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Paula's Printing Company produced the following number of bound books during the first five weeks of last year. Prepare a bar graph: Week Books Bound 1 300 2 200 3 700 4 600 5 800

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Calculate the standard deviation (to the nearest hundredth)for the following sample set of data (round mean to nearest hundredth): 82.5, 91.3, 57.4, 41.7, 76.9, 68.5

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If all values are different, there is no mode.

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Match the following terms with their definitions. -Circle graphs

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At North Shore Community College, Bill Martin took four three-credit courses. He received an A in Economics and three B's (Business Math, Accounting, and Psychology). What is his grade point average (to the hundredth)? Assume A = 4.0, B = 3.0.

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What is the mode of 22, 22, 27, 29, 34, 34, and 38?

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In finding the mode, you must arrange values from smallest to largest.

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Alice's Hardware's sales for the first two weeks were as follows: \ 700 \ 950 \ 960 \ 1,008 \ 800 \ 1,200 \ 1,200 \5 00 \ 870 \ 750 \ 1,200 \ 750 \ 750 \ 1,008 What would be the mode?

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Calculate the mean: $300, $600, $500, $300, $300, $600, $500, $500

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Angie Corporation reported profits of 18%. It stated in the report that cost of sales was 42% with expenses of 40%. How many degrees on a circle graph would each be given (round to the nearest tenth)?

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A line graph may be used to discover trends.

(True/False)
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At the college bookstore, the following sales were rung up. Based on this, prepare a frequency distribution. Use intervals of 0-$5.99, $6.00-$11.99, $12.00-$17.99, and $18.00-$23.99. \ 6.95 \ 7.50 \ 6.91 \ 18.60 \ 8.25 \ 21.55 \ 10.50 \ 13.10 \ 22.95 \ 11.11 \ 12.00 \ 10.18 \ 3.50 \ 14.88 \ 9.31 \ 16.95

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Find the weighted salary for the company PawstoYou: President/CEO, 1 \ 140,000 Groomers, 10 \ 33,000 Administrative, 3 \ 45,000 Custodial, 2 \ 24,000

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In a normal distribution, data is spread asymmetrically about the median.

(True/False)
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