Question 1

A box and whisker plot shows where the mean value falls relative to the median for a variable.

Accepted Answer

A) True 
 B)False

Question 2

Acme Taxi has two taxi cabs.The manager tracks the daily revenue for each cab.Over the past 20 days,Cab A has averaged $76.00 per night with a standard deviation equal to $11.00.Cab B has averaged $200.00 per night with a standard deviation of $18.00.Based on this information,Cab B has the greatest relative variation.

Accepted Answer

A) True 
 B)False

Question 3

The AMI Company has two assembly lines in its Kansas City plant.Line A produces an average of 335 units per day with a standard deviation equal to 11 units.Line B produces an average of 145 units per day with a standard deviation equal to 8 units.Based on this information,which line is relatively more consistent?

Accepted Answer

At first glance it may appear that Line

Question 4

Explain how the empirical rule can be used to help describe data in a population or a sample.

Accepted Answer

The empirical rule applies when the data

Question 5

Data are considered to be right-skewed when the mean lies to the right of the median.

Accepted Answer

A) True 
 B)False

Question 6

If a set of data has 1,500 values,the 30th percentile value will correspond to the 450th value in the data when the data have been arranged in numerical order.

Accepted Answer

A) True 
 B)False

Question 7

Portfolio A of a collection of stocks is considered more risky than portfolio B if

Accepted Answer

A) portfolio A has a higher mean than portfolio B. 
B) portfolio A has a higher variance than portfolio B. 
C) portfolio A has a higher standard deviation. 
D) portfolio A has a higher coefficient of variation than portfolio B. 
A) portfolio A has a higher mean than portfolio B. 
B) portfolio A has a higher variance than portfolio B. 
C) portfolio A has a higher standard deviation. 
D) portfolio A has a higher coefficient of variation than portfolio B.

Question 8

Suppose the standard deviation for a given sample is known to be 20.If the data in the sample are doubled,the standard deviation will be 40.

Accepted Answer

A) True 
 B)False

Question 9

A small company has 7 employees.The numbers of years these employees have worked for this company are shown as follows:   Based upon this information,the mean number of years that employees have been with this company is:

Accepted Answer

A) 16. 
B)    . 
C) 8.40. 
D) 10. 
A) 16. 
B)    . 
C) 8.40. 
D) 10.

Question 10

Explain what is meant by percentiles and quartiles.

Accepted Answer

Percentiles and quartiles are measures t

Question 11

Which of the following statements is true?

Accepted Answer

A) The mean of a population will always be larger than the population standard deviation. 
B) The mean of the population will generally be larger than the mean of the sample selected from that population. 
C) The population mean and a sample mean for a sample selected from that population will usually be different values. 
D) The population mean and sample mean will always be identical. 
A) The mean of a population will always be larger than the population standard deviation. 
B) The mean of the population will generally be larger than the mean of the sample selected from that population. 
C) The population mean and a sample mean for a sample selected from that population will usually be different values. 
D) The population mean and sample mean will always be identical.

Question 12

A large retail company gives an employment screening test to all prospective employees.Franklin Gilman recently took the test and it was reported back to him that his score placed him at the 80th percentile.Therefore:

Accepted Answer

A) 80 people who took the test scored below Franklin. 
B) Franklin scored as high or higher than 80 percent of the people who took the test. 
C) Franklin was in the bottom 20 percent of those that have taken the test. 
D) Franlkin's score has a z-score of 80. 
A) 80 people who took the test scored below Franklin. 
B) Franklin scored as high or higher than 80 percent of the people who took the test. 
C) Franklin was in the bottom 20 percent of those that have taken the test. 
D) Franlkin's score has a z-score of 80.

Question 13

The asking price for homes on the real estate market in Baltimore has a mean value of $286,455 and a standard deviation of $11,200.The mean and standard deviation in asking price for homes in Denver are $188,468 and $8,230,respectively.Recently,one home sold in each city where the asking price for each home was $193,000.Based on these data,which of the following conclusions can be made?

Accepted Answer

A) The two homes have approximately the same standardized values. 
B) The distribution of asking prices in the two cities is bell-shaped. 
C) The house in Baltimore is relatively further from the mean than the house in Denver. 
D) The asking prices of homes in Denver is less variable than those in Baltimore. 
A) The two homes have approximately the same standardized values. 
B) The distribution of asking prices in the two cities is bell-shaped. 
C) The house in Baltimore is relatively further from the mean than the house in Denver. 
D) The asking prices of homes in Denver is less variable than those in Baltimore.

Question 14

A recent study involving a sample of 3,000 vehicles in California showed the following statistics related to the number of miles driven per day: Q1 = 12 Q2 = 45 and Q3 = 56.Based on these data,we know that the distribution is skewed.

Accepted Answer

A) True 
 B)False

Question 15

If a distribution for a quantitative variable is thought to be nearly symmetric with very little variation,and a box and whisker plot is created for this distribution,which of the following is true?

Accepted Answer

A) The box will be quite wide but the whisker will be very short. 
B) The left and right-hand edges of the box will be approximately equal distance from the median. 
C) The whiskers should be about half as long as the box is wide. 
D) The upper whisker will be much longer than the lower whisker. 
A) The box will be quite wide but the whisker will be very short. 
B) The left and right-hand edges of the box will be approximately equal distance from the median. 
C) The whiskers should be about half as long as the box is wide. 
D) The upper whisker will be much longer than the lower whisker.

Question 16

One of the reasons that the standard deviation is preferred as a measure of variation over the variance is that the standard deviation is measured in the original units.

Accepted Answer

A) True 
 B)False

Question 17

The Parks and Recreation manager for the city of Detroit recently submitted a report to the city council in which he indicated that a random sample of 500 park users indicated that the average number of visits per month was 4.56.This value should be viewed as a statistic by the city council.

Accepted Answer

A) True 
 B)False

Question 18

When surveyed,a sample of 1,250 patients at a regional hospital provided interviewers with the following summary statistics pertaining to the hospital charges:
Minimum = $278.00 Q1 = $1,245 Q2 = $3,567 Q3= $4,702.
Based on these data,if you were to construct a box and whisker plot,the value $278 would be considered an outlier.

Accepted Answer

A) True 
 B)False

Question 19

Explain how the Tchebysheff's theorem can be used to help describe data in a population or a sample.

Accepted Answer

If the data in a sample or a population

Question 20

If a business manager selected a sample of customers and computed the mean income for this sample of customers,she has computed:

Accepted Answer

A) a statistic. 
B) an ordinal value. 
C) a nominal value. 
D) a parameter. 
A) a statistic. 
B) an ordinal value. 
C) a nominal value. 
D) a parameter.

A box and whisker plot shows where the mean value falls relative to the median for a variable.

Explain how the empirical rule can be used to help describe data in a population or a sample.

Data are considered to be right-skewed when the mean lies to the right of the median.

If a set of data has 1,500 values,the 30^th percentile value will correspond to the 450^th value in the data when the data have been arranged in numerical order.

Portfolio A of a collection of stocks is considered more risky than portfolio B if

Suppose the standard deviation for a given sample is known to be 20.If the data in the sample are doubled,the standard deviation will be 40.

A small company has 7 employees.The numbers of years these employees have worked for this company are shown as follows: Based upon this information,the mean number of years that employees have been with this company is:

Explain what is meant by percentiles and quartiles.

Which of the following statements is true?

A large retail company gives an employment screening test to all prospective employees.Franklin Gilman recently took the test and it was reported back to him that his score placed him at the 80th percentile.Therefore:

A recent study involving a sample of 3,000 vehicles in California showed the following statistics related to the number of miles driven per day: Q1 = 12 Q2 = 45 and Q3 = 56.Based on these data,we know that the distribution is skewed.

If a distribution for a quantitative variable is thought to be nearly symmetric with very little variation,and a box and whisker plot is created for this distribution,which of the following is true?

One of the reasons that the standard deviation is preferred as a measure of variation over the variance is that the standard deviation is measured in the original units.

The Parks and Recreation manager for the city of Detroit recently submitted a report to the city council in which he indicated that a random sample of 500 park users indicated that the average number of visits per month was 4.56.This value should be viewed as a statistic by the city council.

Explain how the Tchebysheff's theorem can be used to help describe data in a population or a sample.

If a business manager selected a sample of customers and computed the mean income for this sample of customers,she has computed:

The Where, why, and How of Data Collection

Graphs,charts and Tablesdescribing Your Data

Using Probability and Probability Distributions

Discrete Probability Distributions

Introduction to Continuous Probability Distributions

Introduction to Sampling Distributions

Estimating Single Population Parameters

Introduction to Hypothesis Testing

Estimation and Hypothesis Testing for Two Population Parameters

Hypothesis Tests and Estimation for Population Variances

Analysis of Variance

Goodness-Of-Fit Tests and Contingency Analysis

Introduction to Linear Regression and Correlation Analysis

Multiple Regression Analysis and Model Building

Analyzing and Forecasting Time-Series Data

Introduction to Nonparametric Statistics

Introduction to Quality and Statistical Process Control

Introduction to Decision Analysis

Filters

Exam 3: Describing Data Using Numerical Measures

A box and whisker plot shows where the mean value falls relative to the median for a variable.

Explain how the empirical rule can be used to help describe data in a population or a sample.

Data are considered to be right-skewed when the mean lies to the right of the median.

If a set of data has 1,500 values,the 30th percentile value will correspond to the 450th value in the data when the data have been arranged in numerical order.

Portfolio A of a collection of stocks is considered more risky than portfolio B if

Suppose the standard deviation for a given sample is known to be 20.If the data in the sample are doubled,the standard deviation will be 40.

A small company has 7 employees.The numbers of years these employees have worked for this company are shown as follows: Based upon this information,the mean number of years that employees have been with this company is:

Explain what is meant by percentiles and quartiles.

Which of the following statements is true?

A large retail company gives an employment screening test to all prospective employees.Franklin Gilman recently took the test and it was reported back to him that his score placed him at the 80th percentile.Therefore:

A recent study involving a sample of 3,000 vehicles in California showed the following statistics related to the number of miles driven per day: Q1 = 12 Q2 = 45 and Q3 = 56.Based on these data,we know that the distribution is skewed.

If a distribution for a quantitative variable is thought to be nearly symmetric with very little variation,and a box and whisker plot is created for this distribution,which of the following is true?

One of the reasons that the standard deviation is preferred as a measure of variation over the variance is that the standard deviation is measured in the original units.

The Parks and Recreation manager for the city of Detroit recently submitted a report to the city council in which he indicated that a random sample of 500 park users indicated that the average number of visits per month was 4.56.This value should be viewed as a statistic by the city council.

Explain how the Tchebysheff's theorem can be used to help describe data in a population or a sample.

If a business manager selected a sample of customers and computed the mean income for this sample of customers,she has computed:

The Where, why, and How of Data Collection

Graphs,charts and Tablesdescribing Your Data

Using Probability and Probability Distributions

Discrete Probability Distributions

Introduction to Continuous Probability Distributions

Introduction to Sampling Distributions

Estimating Single Population Parameters

Introduction to Hypothesis Testing

Estimation and Hypothesis Testing for Two Population Parameters

Hypothesis Tests and Estimation for Population Variances

Analysis of Variance

Goodness-Of-Fit Tests and Contingency Analysis

Introduction to Linear Regression and Correlation Analysis

Multiple Regression Analysis and Model Building

Analyzing and Forecasting Time-Series Data

Introduction to Nonparametric Statistics

Introduction to Quality and Statistical Process Control

Introduction to Decision Analysis

Filters

If a set of data has 1,500 values,the 30^th percentile value will correspond to the 450^th value in the data when the data have been arranged in numerical order.