Exam 3: Descriptive Statistics

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Statistical measures used to yield information about the center or the middle parts of a group of numbers are called the measures of central tendency.

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A sample of 117 records of the selling price in dollars of homes from Feb 15 to Apr 30,2013 was taken from the files maintained by the Albuquerque Board of Realtors.The following are summary statistics for the selling prices. A sample of 117 records of the selling price in dollars of homes from Feb 15 to Apr 30,2013 was taken from the files maintained by the Albuquerque Board of Realtors.The following are summary statistics for the selling prices.   From this we can conclude that, From this we can conclude that,

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If the mean of a distribution is greater than the median,then the distribution is positively skewed.

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The following frequency distribution was constructed for the wait times to check out at the grocery store. The following frequency distribution was constructed for the wait times to check out at the grocery store.   The frequency distribution reveals that the wait times to check out at the grocery store are _______. The frequency distribution reveals that the wait times to check out at the grocery store are _______.

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The average of the squared deviations about the arithmetic mean is called the variance.

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The following box and whisker plot was constructed for the age of accounts receivable. The following box and whisker plot was constructed for the age of accounts receivable.   The box and whisker plot reveals that the accounts receivable ages are _______. The box and whisker plot reveals that the accounts receivable ages are _______.

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A commuter travels many miles to work each morning. She has timed this trip 5 times during the last month. The time (in minutes)required to make this trip was 38,33,36,47,and 41. What is the standard deviation for this sample data?

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The lowest appropriate level of measurement for the median is ordinal.

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The sum of deviations about the arithmetic mean is always equal to zero.

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The median for ungrouped raw data is more complicated to compute then the median for grouped data.

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The coefficient of variation is unitless.

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Karen Merlott,VP for Strategic Planning at a recruitment firm,recently conducts a survey to determine customer satisfaction with job placement.She distributed the survey to 45 of the most recently placed executives. Two items on a survey questionnaire them to rate the importance of "initial interview process" and "satisfaction of final job placement" on a scale of 1 to 10 (with 1 meaning "not important" and 10 meaning "highly important"). Her staff assembled the following statistics on these two items. Karen Merlott,VP for Strategic Planning at a recruitment firm,recently conducts a survey to determine customer satisfaction with job placement.She distributed the survey to 45 of the most recently placed executives. Two items on a survey questionnaire them to rate the importance of initial interview process and satisfaction of final job placement on a scale of 1 to 10 (with 1 meaning not important and 10 meaning highly important). Her staff assembled the following statistics on these two items.   What can Karen conclude from these statistics? What can Karen conclude from these statistics?

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Jessica Salas,president of Salas Products,is reviewing the warranty policy for her company's new model of automobile batteries. Life tests performed on a sample of 100 batteries indicated: (1)an average life of 75 months,(2)a standard deviation of 5 months,and (3)a bell shaped battery life distribution.Approximately 95% of the batteries will last between ________________.

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A commuter travels many miles to work each morning. She has timed this trip 5 times during the last month. The time (in minutes)required to make this trip was 44,39,41,35,and 41. What is the mean absolute deviation for this sample data?

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The frequency distribution table below shows the number of machines that produced a given number of defective products during the last semester.What is the median number of defective products? The frequency distribution table below shows the number of machines that produced a given number of defective products during the last semester.What is the median number of defective products?

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A statistics student made the following grades on 7 tests: 76,82,92,95,79,86,and 92. What is the median grade?

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The ages of students in a class have been put into the frequency distribution below. The ages of students in a class have been put into the frequency distribution below.   What is the median age of these students? What is the median age of these students?

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The mean life of a specialized essential electronic component in one of your company's main products is 80 months,and its standard deviation is 6 months.It is known that the life for this component is not normally distributed.We can conclude that at least 96% of these components will last between _______.

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The ages of students in a class have been put into the frequency distribution below. The ages of students in a class have been put into the frequency distribution below.   What is the standard deviation for this (population)set of data? What is the standard deviation for this (population)set of data?

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Pearson's second skewness coefficient is defined as (3 × (μ - median)/σ).You are examining financial statistics for the rate of return of a financial product your company sells and find out that the standard deviation is 0.5 and the Pearson coefficient of skewness is 1.5.Suppose that by the end of this year,you receive the updated statistics and find out that the mean increased by 0.2 and the median and standard deviation stayed unchanged.What would be the updated value of Pearson's second skewness coefficient?

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