Test Bank Essentials of Sociology Fourth Edition Giddens Carr

Test Bank Essentials of Statistics for Business
and Economics 7th Edition by David R. Anderson,

Dennis J. Sweeney, Thomas A. Williams
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SAMPLE
Test Bank Essentials of Statistics for Business and Economics 7th Edition by David R. Anderson, Dennis
J. Sweeney, Thomas A. Williams
MultipleChoice
Themeasureoflocationwhichisthemostlikelytobeinfluencedbyextremevaluesinthedatasetisthe
range
median
mode
mean
ANSWER: d
Themostimportantstatisticaldescriptivemeasureofthelocationofadatasetisthe
mean
median
mode
variance
ANSWER: a
Iftwogroupsofnumbershavethesamemean,then
theirstandarddeviationsmustalsobeequal
theirmediansmustalsobeequal
theirmodesmustalsobeequal
Noneofthesealternativesiscorrect.
ANSWER: d
Themeanofthesample
isalwayssmallerthanthemeanofthepopulationfromwhichthesamplewastaken
canneverbezero
canneverbenegative
ANSWER: d
Whenthesmallestandlargestpercentageofitemsareremovedfromadatasetandthemeaniscomputed,themean
oftheremainingdatais
themedian
themode
thetrimmedmean
anyoftheabove
ANSWER: c
Sincethepopulationisalwayslargerthanthesample,thevalueofthesamplemean
isalwayssmallerthanthetruevalueofthepopulationmean
isalwayslargerthanthetruevalueofthepopulationmean
isalwaysequaltothetruevalueofthepopulationmean
couldbelarger,equalto,orsmallerthanthetruevalueofthepopulationmean
ANSWER: d
Whichofthefollowingprovidesameasureofcentrallocationforthedata?
standarddeviation
mean
variance
range
ANSWER: b
Whencomputingthemeanofasetofvaluesxi,thevalueof∑xi
canneverbezero
canneverbenegative
mustalwaysbepositive
canbeanyvalue
ANSWER: d
Incomputingthemeanofasample,thevalueof∑xiis dividedby
n
n- 1
n+1
n- 2
ANSWER: a
Anumericalvalueusedasasummarymeasureforasample,suchassamplemean,isknownasa
populationparameter
sampleparameter
samplestatistic
populationmean
ANSWER: c
Sincethepopulationsizeisalwayslargerthanthesamplesize,thenthesamplestatistic
canneverbelargerthanthepopulationparameter
canneverbeequaltothepopulationparameter
canbesmaller,larger,orequaltothepopulationparameter
canneverbesmallerthanthepopulationparameter
ANSWER: c
μisanexampleofa
populationparameter
samplestatistic
populationvariance
mode
ANSWER: a
Themeanofasample
isalwaysequaltothemeanofthepopulation
isalwayssmallerthanthemeanofthepopulation
iscomputedbysummingthedatavaluesanddividingthesumby(n-1)
iscomputedbysummingallthedatavaluesanddividingthesumbythenumberofitems
ANSWER: d
Thehourlywagesofasampleof130systemanalystsaregivenbelow.
mean=60 range=20
mode=73 variance=324
median =74
Thecoefficientofvariationequalsa.0.30%
b.30%
c.5.4%
d.54%
ANSWER: b
Thevarianceofasampleof169observationsequals576.Thestandarddeviationofthesampleequals
13
24c.576
d.28,461
ANSWER: b
Themedianofasamplewillalwaysequalthe
mode
mean
50thpercentile
alloftheaboveanswersarecorrect
ANSWER: c
Themedianisameasureof
relativedispersion
absolutedispersion
centrallocation
relativelocation
ANSWER: c
The50thpercentileisthe
mode
median
mean
thirdquartile
ANSWER: b
The75thpercentileisreferredtoasthe
firstquartile
secondquartile
thirdquartile
fourthquartile
ANSWER: c
Thepthpercentileisavaluesuchthatatleastppercentoftheobservationsare
lessthanorequaltothisvalue
lessthanthisvalue
morethanorequaltothisvalue
morethanthisvalue
ANSWER: a
Thedifferencebetweenthelargestandthesmallestdatavaluesisthe
variance
interquartilerange
range
coefficientofvariation
ANSWER: c
Thefirstquartile
containsatleastonethirdofthedataelements
isthesameasthe25thpercentile
ANSWER: b
Whencomputingthemean,thesmallestvalue
canneverbenegative
canneverbezero
canneverbelessthanthemean
canbeanyvalue
ANSWER: d
Whichofthefollowingisnotameasureofcentrallocation?
mean
median
variance
mode
ANSWER: c
Ifadatasethasanevennumberofobservations,themedian
cannotbedetermined
istheaveragevalueofthetwomiddleitems
mustbeequaltothemean
istheaveragevalueofthetwomiddleitemswhenallitemsarearrangedinascendingorder
ANSWER: d
Whichofthefollowingisameasureofdispersion?
percentiles
quartiles
interquartilerange
alloftheabovearemeasuresofdispersion
ANSWER: c
Thevaluewhichhashalfoftheobservationsaboveitandhalftheobservationsbelowitiscalledthe
range
median
mean
mode
ANSWER: b
Themostfrequentlyoccurringvalueofadatasetiscalledthe
range
mode
mean
median
ANSWER: b
Theinterquartilerangeis
the50thpercentile
anothernameforthevariance
thedifferencebetweenthelargestandsmallestvalues
thedifferencebetweenthethirdquartileandthefirstquartile
ANSWER: d
Theweights(inpounds)ofasampleof36individualswererecordedandthefollowingstatisticswerecalculated.
mean=160 range=60
median=170
b.11.25%
c.203.12%
d.0.20312%
ANSWER: b
Theheights(ininches)of25individualswererecordedandthefollowingstatisticswerecalculated
mean=70 range=20
median =74
b.1120%
c.0.4%
d.40%
ANSWER: d
Thestandarddeviationofasampleof100observationsequals64.Thevarianceofthesampleequals
8
10
c.6400
d.4,096
ANSWER: d
Thevarianceofasampleof81observationsequals64.Thestandarddeviationofthesampleequals
9
b.4096
c.8
d.6561
ANSWER: c
Ifindexi(whichisusedtodeterminethelocationofthepthpercentile)isnotaninteger,itsvalueshouldbe
squared
dividedby(n-1)
roundeddown
roundedup
ANSWER: d
Whenthedataareskewedtotheright,themeasureofSkewnesswillbe
negative
zero
positive
one
ANSWER: c
Whendataarepositivelyskewed,themeanwillusuallybe
greaterthanthemedian
smallerthanthemedian
equaltothemedian
positive
ANSWER: a
Whichofthefollowingisnotameasureofdispersion?
therange
the50thpercentile
thestandarddeviation
theinterquartilerange
ANSWER: b
Theinterquartilerangeisusedasameasureofvariabilitytoovercomewhatdifficultyoftherange?
thesumoftherangevariancesiszero
therangeisdifficulttocompute
therangeisinfluencedtoomuchbyextremevalues
therangeisnegative
ANSWER: c
Ifthevarianceofadatasetiscorrectlycomputedwiththeformulausingn-
1inthedenominator,whichofthefollowingistrue?
thedatasetisasample
thedatasetisapopulation
thedatasetcouldbeeitherasampleorapopulation
thedatasetisfromacensus
ANSWER: a
Incomputingdescriptivestatisticsfromgroupeddata,
datavaluesaretreatedasiftheyoccuratthemidpointofaclass
thegroupeddataresultismoreaccuratethantheungroupedresult
thegroupeddatacomputationsareusedonlywhenapopulationisbeinganalyzed
ANSWER: a
Themeasureofdispersionthatisinfluencedmostbyextremevaluesis
thevariance
therange
ANSWER: c
Whenshouldmeasuresoflocationanddispersionbecomputedfromgroupeddataratherthanfromindividualdatav
alues?
asmuchaspossiblesincecomputationsareeasier
onlywhenindividualdatavaluesareunavailable
whenevercomputerpackagesfordescriptivestatisticsareunavailable
onlywhenthedataarefromapopulation
ANSWER: b
Thedescriptivemeasureofdispersionthatisbasedontheconceptofadeviationaboutthemeanis
therange
theabsolutevalueoftherange
ANSWER: d
Thenumericalvalueofthestandarddeviationcanneverbe
largerthanthevariance
zero
negative
smallerthanthevariance
ANSWER: c
Thesamplevariance
isalwayssmallerthanthetruevalueofthepopulationvariance
isalwayslargerthanthetruevalueofthepopulationvariance
couldbesmaller,equalto,orlargerthanthetruevalueofthepopulationvariance
canneverbezero
ANSWER: c
Thecoefficientofvariationis
thesameasthevariance
thestandarddeviationdividedbythemeantimes100
thesquareofthestandarddeviation
themeandividedbythestandarddeviation
ANSWER: b
Thevariancecanneverbe
zero
largerthanthestandarddeviation
negative
smallerthanthestandarddeviation
ANSWER: c
Thesumofdeviationsoftheindividualdataelementsfromtheirmeanis
alwaysgreaterthanzero
alwayslessthanzero
sometimesgreaterthanandsometimeslessthanzero,dependingonthedataelements
alwaysequaltozero
ANSWER: d
Whichofthefollowingsymbolsrepresentsthestandarddeviationofthepopulation?
σ2
σ
μ
x̅
ANSWER: b
Whichofthefollowingsymbolsrepresentsthemeanofthepopulation?
σ2
σ
μ
x̅
ANSWER: c
Whichofthefollowingsymbolsrepresentsthevarianceofthepopulation?
σ2
σ
μ
x̅
ANSWER: a
Whichofthefollowingsymbolsrepresentsthesizeofthepopulation?
σ2
σ
μ
N
ANSWER: d
Whichofthefollowingsymbolsrepresentsthemeanofthesample?
σ2
σ
μ
x̅
ANSWER: d
Whichofthefollowingsymbolsrepresentsthesizeofthesample
σ2
σ
N
n
ANSWER: d
Thesymbolσisusedtorepresent
thevarianceofthepopulation
thestandarddeviationofthesample
thestandarddeviationofthepopulation
thevarianceofthesample
ANSWER: c
Thesymbolσ2isusedtorepresent
thevarianceofthepopulation
thestandarddeviationofthesample
thestandarddeviationofthepopulation
thevarianceofthesample
ANSWER: a
Thevarianceofthesample
canneverbenegative
canbenegative
cannotbezero
cannotbelessthanone
ANSWER: a
Themeasureofdispersionwhichisnotmeasuredinthesameunitsastheoriginaldataisthe
median
standarddeviation
coefficientofdetermination
variance
ANSWER: d
Anumericalmeasureoflinearassociationbetweentwovariablesisthe
variance
covariance
standarddeviation
ANSWER: b
Positivevaluesofcovarianceindicate
apositivevarianceofthexvalues
apositivevarianceoftheyvalues
thestandarddeviationispositive
positiverelationbetweentheindependentandthedependentvariables
ANSWER: d
Anumericalmeasureoflinearassociationbetweentwovariablesisthe
variance
correlationcoefficient
standarddeviation
ANSWER: c
Thecoefficientofcorrelationrangesbetween
0 and 1
-1and+1
minusinfinityandplusinfinity
1 and100
ANSWER: b
Thecoefficientofcorrelation
isthesameasthecoefficientofdetermination
canbelargerthan1
cannotbelargerthan1
cannotbenegative
ANSWER: c
The valueofthesumof thedeviationsfromthemean,i.e.,∑▒(x- x ̅ ) mustalwaysbe

lessthanthezero
negative
eitherpositiveornegativedependingonwhetherthemeanisnegativeorpositive
zero
ANSWER: d
Thenumericalvalueofthevariance
isalwayslargerthanthenumericalvalueofthestandarddeviation
isalwayssmallerthanthenumericalvalueofthestandarddeviation
isnegativeifthemeanisnegative
canbelargerorsmallerthanthenumericalvalueofthestandarddeviation
ANSWER: d
Sincethemedianisthemiddlevalueofadatasetit
mustalwaysbesmallerthanthemode
mustalwaysbelargerthanthemode
mustalwaysbesmallerthanthemean
ANSWER: d
Inafivenumbersummary,whichofthefollowingisnotusedfordatasummarization?
thesmallestvalue
thelargestvalue
themean
the25thpercentile
ANSWER: c
Therelativefrequencyofaclassiscomputedby
dividingthemidpointoftheclassbythesamplesize
dividingthefrequencyoftheclassbythemidpoint
dividingthesamplesizebythefrequencyoftheclass
dividingthefrequencyoftheclassbythesamplesize
ANSWER: d
Duringacoldwinter,thetemperaturestayedbelowzerofortendays(rangingfrom-20to-
5).Thevarianceofthetemperaturesoftheten-dayperiod
isnegativesinceallthenumbersarenegative
mustbeatleastzero
cannotbecomputedsinceallthenumbersarenegative
canbeeithernegativeorpositive
ANSWER: b
Whichofthefollowingisnotameasureofdispersion?
mode
standarddeviation
range
interquartilerange
ANSWER: a
Ifthecoefficientofvariationis40%andthemeanis70,thenthevarianceis
28
b.2800
c.1.75
d.784
ANSWER: d
Giventhefollowinginformation:
Standarddeviation=8Coefficientofvariation=64%
Themeanwouldthenbea.12.5
b.8
c.0.64
d.1.25
ANSWER: a
Sincethemodeisthemostfrequentlyoccurringdatavalue,it
canneverbelargerthanthemean
isalwayslargerthanthemedian
isalwayslargerthanthemean
ANSWER: d
Agroupofstudentshaddinneratalocalrestaurant.Thetotalbillforthedinnerwas$414.70.Eachstudentpaidhis/he
requalshareofthebill,whichwas$18.85.Howmanystudentswereatthedinner?
4b.415
19
22
ANSWER: d
Thestandarddeviationofasamplewasreportedtobe20.Thereportindicatedthat∑▒(x- x ̅ )^2
=7200.Whathasbeenthesamplesize?
16
17
18
19
ANSWER: d
Thevarianceofasamplewasreportedtobe144.Thereportindicatedthat∑▒(x- x ̅ )^2 =7200.Whathasbeenthe

samplesize?
49
50
51
52
ANSWER: c
Fromapopulationofsize1,000,arandomsampleof100itemsisselected.Themeanofthesample
mustbe10timessmallerthanthemeanofthepopulation
mustbeequaltothemeanofthepopulation,ifthesampleistrulyrandom
mustbe10timeslargerthanthemeanofthepopulation
canbelarger,smallerorequaltothemeanofthepopulation
ANSWER: d
Fromapopulationofsize500,arandomsampleof50itemsisselected.Themodeofthesample
mustbe500
mustbeequaltothemodeofpopulation,ifthesampleistrulyrandom
mustbeequaltothemeanofthepopulation,ifthesampleistrulyrandom
canbelarger,smallerorequaltothemodeofthepopulation
ANSWER: d
Fromapopulationofsize400,arandomsampleof40itemsisselected.Themedianofthesample
mustbe200,since400dividedby2 is200
mustbe10,since400dividedby400is10
mustbeequaltothemedianofpopulation,ifthesampleistrulyrandom
ANSWER: d
Aboxplotisagraphicaltechniquewhichisusedfor
onlyonegroupofdata
makingcomparisonsbetweenonlytwogroups
makingcomparisonsbetweentwoormoregroups
summingthedeviationsfromthemeanandplacingthesuminabox
ANSWER: c
Sincethesizeofthepopulationisalwayslargerthanthesizeofthesample,thepopulationmeanmust
alwaysbesmallerthanthesamplemean
belargerthanthesamplemean
beequaltothesamplemean
ANSWER: d
Ifthemeanofadatasetiszero,thenthestandarddeviation
mustalsobezero
mustbe1
canbeanyvalue
canbeanypositivevalue
ANSWER: d
For27days,thetemperatureinFairbanks,Alaskahasbeenbelowzero.Thus,themeantemperaturehasbeennega
tive.Inthissituation,thestandarddeviationmustbe
negative
lessthanzero
anyvalue
zeroandabove
ANSWER: d
Themeanofasamplehavingthevaluesof-2,1,and1is
zero
1
2
3
ANSWER: a
Thefollowingchartisanexampleofa
Pricechart
stackedbarchart
sidebysidechart
goodtoexcellentchart
ANSWER: b
Ameasureoflocationthatiscalculatedbyfindingthenthrootoftheproductofthenvaluesisknownas
squarerootmean
meansquareroot
meansquareerror
theGeometricmean
ANSWER: d
Themedianofasamplecontainingthevaluesof-4,-2,+2,+4is
zerob.1.000c.2.000d.4.000
ANSWER: a
Abarchartinwhicheachbarisbrokenintorectangularsegmentsofadifferentcolorshowingtherelativefrequencyof
eachclassinamannersimilartoapiechart.isreferredtoasa
sidebysidechart
frequencybarchart
brokenbarchart
stackedbarchart
ANSWER: d
Exhibit3-1
Thefollowingdatashowthenumberofhoursworkedby200statisticsstudents.
NumberofHours Frequency
0- 9 40
10 -19 50
20 -29 70
30 -39 40
RefertoExhibit3-1.Theclasswidthforthisdistribution
is9
is10
is11
variesfromclasstoclass
ANSWER: b
RefertoExhibit3-1.Thenumberofstudentsworking19hoursorless
is40
is50
is90
cannotbedeterminedwithouttheoriginaldata
ANSWER: c
RefertoExhibit3-1.Therelativefrequencyofstudentsworking9hoursorless
is.2
is.45
is40
cannotbedeterminedfromtheinformationgiven
ANSWER: a
RefertoExhibit3-1.Thecumulativerelativefrequencyfortheclassof10-19
is90
is.25
is.45
cannotbedeterminedfromtheinformationgiven
ANSWER: c
Exhibit3-2
Aresearcherhascollectedthefollowingsampledata
5 12 6 8 5
6 7 5 12 4
RefertoExhibit3-2.Themedianis
5
6
7
8
ANSWER: b
RefertoExhibit3-2.Themodeis
5
6
7
8
ANSWER: a
RefertoExhibit3-2.Themeanis
5
6
7
8
ANSWER: c
RefertoExhibit3-2.The75thpercentileis
5
6
7
8
ANSWER: d
Exhibit3-3
Aresearcherhascollectedthefollowingsampledata.Themeanofthesampleis5.
3 5 12 3 2
RefertoExhibit3-3.Thevarianceis
80
b.4.062
c.13.2
d.16.5
ANSWER: d
RefertoExhibit3-3.Thestandarddeviationisa.8.944
b.4.062
c.13.2
d.16.5
ANSWER: b
RefertoExhibit3-3.Thecoefficientofvariationisa.72.66%
b.81.24%
c.264%
d.330%
ANSWER: b
RefertoExhibit3-3.Therangeis
1
2
10
12
ANSWER: c
RefertoExhibit3-3.Theinterquartilerangeis
1
2
10
12
ANSWER: b
Exhibit3-4
Thefollowingisthefrequencydistributionforthespeedsofasampleofautomobilestravelingonaninterstatehighw
ay.
SpeedMilesperHour
Frequency
50 -54 2
55 -59 4
60 -64 5
65 -69 10
70 -74 9
75 -79 5
35
35b.670
10
67
ANSWER: d
RefertoExhibit3-4.Thevarianceisa.6.969
b.7.071
c.48.570
d.50.000
ANSWER: d
RefertoExhibit3-4.Thestandarddeviationisa.6.969
b.7.071
c.48.570
d.50.000
ANSWER: b
Exhibit3-5
Youaregiventhefollowingfrequencydistribution.
Class Frequency
10-14 1
15-19 2
20-24 5
25-29 8
30-34 4
a.500
b.26.315
30
25
ANSWER: d
RefertoExhibit3-5.Thevarianceisa.570
b.5.477
c.500
d.30
ANSWER: d
RefertoExhibit3-5.Thestandarddeviationisa.570
b.5.477
25
30
ANSWER: b
RefertoExhibit3-5.Thecoefficientofvariationisa.25%
b.21.91%
c.5.477%
d.30%
ANSWER: b
Exhibit3-6
TheclosingstockpriceofMNMCorporationforthelast7tradingdaysisshownbelow.
Day StockPrice
1 84
2 87
3 84
4 88
5 85
6 90
7 91
84
85
86
87
ANSWER: d
RefertoExhibit3-6.Themodeis
84
85
86
87
ANSWER: a
RefertoExhibit3-6.Themedianis
84
85
86
87
ANSWER: d
RefertoExhibit3-6.Therangeis
7
8
9
91
ANSWER: a
RefertoExhibit3-6.Thevarianceisa.2.828
8
9
81
ANSWER: b
Thevarianceofasamplecontainingthevaluesof-2,1,and1is
zerob.1.732c.2.000d.3.000
ANSWER: d
SubjectiveShortAnswer
TheclosingstockpriceofAhmadi,Inc.forasampleof10tradingdaysisshownbelow.
Day
1 StockPrice
84
2 87
3 84
4 88
5 85
6 90
7 91
8 83
9 82
10 86
Fortheabovesample,computethefollowingmeasures.
Themean
Themedian
Themode
Thevariance
Thestandarddeviation
Therange
ANSWER: a. 86
b. 85.5
c. 84
d. 8.8888
e. 2.9814
f. 9
Thehourlywagesofasampleofeightindividualsisgivenbelow.
Individual
HourlyWage(dollars)
A 27
B 25
C 20
D 10
E 12
F 14
G 17
H 19
Fortheabovesample,determinethefollowingmeasures:
Themean.
Thestandarddeviation.
The25thpercentile.
ANSWER:
18
6
13
In2013,theaverageageofstudentsatUTCwas22withastandarddeviationof3.96.In2014,theaverageagewas24
withastandarddeviationof4.08.Inwhichyeardotheagesshowamoredisperseddistribution?Showyourcomplete
workandsupportyouranswer.
ANSWER: C.V.for2013=18%,C.V.for2014=17%
Therefore2013showsamoredisperseddistribution.
Considerthedatainthefollowingfrequencydistribution.Assumethedatarepresentapopulation.
Class Frequency
2- 6 2
7-11 3
12 -16 4
17 -21 1
Fortheabovedata,computethefollowing.
Themean
Thevariance
ANSWER:
11
21
c. 4.58
Aprivateresearchorganizationstudyingfamiliesinvariouscountriesreportedthefollowingdatafortheamountofti
me4-year-oldchildrenspentalonewiththeirfatherseachday.
Country
TimewithDad(minutes)
Belgium 30
Canada 44
China 54
Finland 50
Germany 36
Nigeria 42
Sweden 46
UnitedStates 42
Fortheabovesample,determinethefollowingmeasures:
Themean
Themode
The75thpercentile
ANSWER:
43
b. 7.56
42
48
In2013,theaveragedonationtotheHelpWaywas$225withastandarddeviationof$45.In2014,theaveragedonati
onwas$400withastandarddeviationof$60.Inwhichyeardidthedonationsshowamoredisperseddistribution?
ANSWER: Thecoefficientofvariationin2013was20%(moredispersed).
Thecoefficientofvariationin2014was15%.
ThefollowingfrequencydistributionshowstheACTscoresofasampleofstudents:
Score Frequency
14 -18 2
19 -23 5
24 -28 12
29 -33 1
Fortheabovedata,computethefollowing.
Themean
ANSWER:
24
b. 3.77
Thefollowingdatashowtheyearlysalariesoffootballcoachesatsomestatesupporteduniversities.
University Salary(in$1,000)
A 53
B 44
C 68
D 47
E 62
F 59
G 53
H 94
Fortheabovesample,determinethefollowingmeasures.
Themeanyearlysalary
Themode
Themedian
The70thpercentile
ANSWER:
60
b. 15.8
53
56
62
Theagesofasampleof8facultymembersselectedfromtheSchoolofBusinessAdministrationareshownbelow.
Faculty Age
1 42
2 30
3 73
4 50
5 51
6 37
7 42
8 59
Computetheaverageage.
Determinethemode.
Computethemedianage.
Computethestandarddeviation.
ANSWER:
48
42
46
d. 13.5
ThegradepointaverageofthestudentsatUTCis2.80withastandarddeviationof0.84.Thegradepointaverageofst
udentsatUTKis2.4withastandarddeviationof0.84.Whichuniversityshowsamoredispersedgradedistribution?
ANSWER: UTK’scoefficientofvariation=35%.UTC’scoefficientofvariation=30%.
Therefore,UTKhasamoredispersedgradedistribution.
Thefollowingisafrequencydistributionfortheagesofasampleofemployeesatalocalcompany.
Age Frequency
30 -39 2
40 -49 3
50 -59 7
60 -69 5
70 -79 1
Determinetheaverageageforthesample.
Computethevariance.
Computethecoefficientofvariation.
ANSWER:
a. 54.5
b. 117.65
c. 10.85
d. 19.91%
AlocaluniversityadministersacomprehensiveexaminationtotherecipientsofaB.S.degreeinBusinessAdministr
ation.Asampleofexaminationsareselectedatrandomandscored.Theresultsareshownbelow.
Grade
93
65
80
97
85
87
97
60
Fortheabovedata,determine
Themean
Themedian
Themode
Thecoefficientofvariation
ANSWER:
83
86
97
d. 14.01
e. 16.88%
Thenumberofhoursworkedperweekforasampleoftenstudentsisshownbelow.
Student Hours
1 20
20
3 18
4 16
5 22
6 40
78
86
9 30
10 40
Determinethemedianandexplainitsmeaning.
Computethe70thpercentileandexplainitsmeaning.
Whatisthemodeoftheabovedata?Whatdoesitsignify?
ANSWER:
19;approximately50%ofthestudentsworkatleast19hours
26;atleast70%ofthestudentsworklessthanorequalto26hoursperweek
40;themostfrequentdataelement
Thefrequencydistributionbelowshowsthemonthlyexpenditureongasolineforasampleof14individuals.
Expenditure Frequency
55 -59 2
60 -64 3
65 -69 4
70 -74 3
75 -79 2
Computethemean.
ANSWER:
67
b. 6.5
TheaveragewageofTennesseecashiersis$14perhourwithastandarddeviationof$4.20.InGeorgia,theaverage
wageofcashiersis$16withastandarddeviationof$4.40.Inwhichstatedothewagesofcashiersappeartobemored
ispersed?
ANSWER: ThecoefficientofvariationinTennessee=30%.ThecoefficientofvariationinGeorgia=27.5%.
Therefore,Tennesseeshowsamoredisperseddistribution.
Aresearcherhasobtainedthenumberofhoursworkedperweekduringthesummerforasampleoffifteenstudents.
40 25 35 30 20 40 30 20 40 10 30 20 10 5 20
Usingthisdataset,computethe
median
mean
mode
40thpercentile
range
samplevariance
standarddeviation
ANSWER:
25
25
20
20
35
f. 128.571
g. 11.339
Asampleoftwelvefamilieswastaken.Eachfamilywasaskedhowmanytimesperweektheydineinrestaurants.The
irresponsesaregivenbelow.
210202120212
Usingthisdataset,computethe
mode
median
mean
range
interquartilerange
variance
standarddeviation
ANSWER:
2
b. 1.5
c. 1.25
d. 2
e. 1.5
f. 0.75
g. 0.866
h. 69.28%
Thefollowingisafrequencydistributionofgradesofasampleofstatisticsexaminations.
Grade Frequency
50 -59 7
60 -69 10
70 -79 22
80 -89 15
90 -99 6
Computethefollowingmeasures:
Themean
Thevariance
Thecoefficientofvariation
ANSWER:
75
b. 130.25
c. 11.41
d. 15.22%
Thefollowingshowsthenumberofjoblossesandgains(inthousands)between2013and2014forasampleofseven
cities.
City
JobChange(inthousands)
Memphis -11
Nashville -7
Atlanta -6
Chattanooga -5
Birmingham -5
Huntsville 0
Knoxville 6
Computethemean.
Determinethemode.
Determinethemedian.
Determinethestandarddeviation.
ANSWER:
a. -4000
b. -5000
c. -5000
d. 5,477(rounded)
Forthefollowingfrequencydistribution,
Class Frequency
45 -47 3
48 -50 6
51 -53 8
54 -56 2
57 -59 1
Computethemean.
Computethestandarddeviation.(Assumethedatarepresentapopulation.)
ANSWER:
a. 50.8
b. 3.06
Belowyouaregiventheagesofasampleof10collegestudentswhoareenrolledinstatistics.20 18 20 22 18 20 22
17 19 24
Computethemean.
Computethevariance.
Determinethe25thpercentile.
Determinethemedian
Determinetherange.
ANSWER:
20
b. 4.667
c. 2.16
d. 10.8%
18
20
22
7
Asampleof9motherswastaken.Themotherswereaskedtheageoftheiroldestchild.Youaregiventheirresponses
below.
3 12 4 7 14 6 2 9 11
Computethemean.
Computethevariance.
Determinethemedian
Determinetherange.
ANSWER:
a. 7.56
b. 17.78
c. 4.22
d. 55.8
e. 4.0
f. 7.0
11
12
Forthefollowingfrequencydistribution(assumethedatarepresentapopulation),
Class Frequency
70 -79 5
80 -89 9
90 -99 11
100-109 9
110-119 6
Computethemean.
ANSWER:
95
12.44(rounded)
Thestartingsalariesofasampleofcollegestudentsaregivenbelow.
StartingSalary(In$1,000)
Frequency
20-24 1
25-29 3
30-34 7
35-39 6
40-44 2
45-49 1
Computethemean.
Computethevariance.
ANSWER:
34
b. 35.26
c. 5.94
d. 17.46%
Thefollowingfrequencydistributionshowsthetime(inminutes)thatasampleofstudentsusesthecomputertermin
alsperday.
Time Frequency
20 -39 2
40 -59 4
60 -79 6
80 -99 4
100-119 2
Computethemean.
Computethevariance.
ANSWER:
a. 69.5
b. 564.54
c. 23.76
d. 34.19%
Asampleofchargeaccountsatalocaldrugstorerevealedthefollowingfrequencydistributionofunpaidbalances.
UnpaidBalance Frequency
10 -29 1
30 -49 6
50 -69 9
70 -89 11
90-109 13
Determinethemeanunpaidbalance.
Determinethevariance.
Determinethestandarddeviation.
ANSWER:
74
533.08(rounded)c. 23.09
d. 31.20%
Theamountoftimethatasampleofstudentsspendswatchingtelevisionperdayisgivenbelow.
Student
Time
(InMinutes)
1 40
2 28
3 71
4 48
5 49
6 35
7 40
8 57
Computethemean.
Computethemedian.
Computethe75thpercentile.
ANSWER:
46
44
c. 13.5
d. 53
InChattanooga,theaveragedonationtotheCommunityKitchenwas$900withastandarddeviationof$180.InNas
hville,theaveragedonationwas$1,600withastandarddeviationof$240.Inwhichcitydothedonationsshowamore
disperseddistribution?
ANSWER:
ThecoefficientofvariationinChattanoogawas20%(moredispersed).ThecoefficientofvariationinNashvillewas1
5%.
Thefollowingdatarepresentthedailydemand(yinthousandsofunits)andtheunitprice(xindollars)foraproduct.
DailyDemand(y) UnitPrice(x)
47 1
39 3
35 5
44 3
34 6
20 8
15 16
30 6
Computeandinterpretthesamplecovariancefortheabovedata.
Computeandinterpretthesamplecorrelationcoefficient.
ANSWER:
-47.Sincethecovarianceisnegative,itindicatesanegativerelationshipbetweenxandy.
-0.922.Thereisastrongnegativerelationshipbetweenxandy.
Thefollowingobservationsaregivenfortwovariables.
yx
52
8 12
18 3
20 6
22 11
30 19
10 18
79
Computethestandarddeviationforx.
Computethestandarddeviationfory.
ANSWER:
19.286(rounded).Sincethecovarianceispositive,itindicatesapositiverelationshipbetweenxandy.
b. 6.32
c. 8.83
d. 0.345.Thereisapositiverelationshipbetweenxandy.Therelationshipisnotverystrong.
Computetheweightedmeanforthefollowingdata.
xi
9 Weight(wi)
10
8 12
54
35
23
ANSWER: 6.676
Computetheweightedmeanforthefollowingdata.
xi
19 Weight(wi)
12
17 30
14 28
13 10
18 10
ANSWER: 16
Jason,afreshmanatalocalcollege,justcompleted15credithours.Hisgradereportispresentedbelow.
Course
Credit
Hours Grades
Calculus 5 C
Biology 4 A
English 3 D
Music 2 B
P.E. 1 A
Thelocaluniversityusesa4pointgradingsystem,i.e.,A=4,B=3,C=2,D=1,F=0.ComputeJason’ssemestergrade
pointaverage.
ANSWER: 2.6
ThefollowingdatashowtheyearlysalariesofarandomsampleofChattanoogaresidents.
Resident
Salary(In$1,000)
A 97
B 48
C 69
D 85
E 92
F 48
G 79
H 74
Fortheabovesample,determinethefollowingmeasures(Giveyouranswerindollars):
Themeanyearlysalary.
Thestandarddeviation.
Themode.
Themedian.
The70thpercentile
ANSWER:
a. $74,000
b. $18,423.59
c. $48,000
d. $76,500
e. $85,000
Thefollowingfrequencydistributionshowstheyearlytuition(in$1,000s)ofasampleofprivatecolleges.
YearlyTuition
Frequency
12 -16 5
17 -21 4
22 -26 3
27 -31 2
Fortheabovedata,computethemeanyearlytuition.(Giveyouranswerindollars.)
ANSWER: $19,714.29
Thefollowingdatarepresentthedailysupply(yinthousandsofunits)andtheunitprice(xindollars)foraproduct.
DailySupply(y) UnitPrice(x)
52
74
98
12 5
10 7
13 8
16 16
16 6
Computethestandarddeviationforthedailysupply.
Computethestandarddeviationfortheunitprice.
ANSWER:
11.43(rounded).Thecovarianceispositive.Therefore,thereisapositiverelationshipbetweenxandy.
4
c. 4.175
d. 0.6844.Thereisafairlystrongpositiverelationshipbetweenxandy.
TheyearlyincomesofthetophighestpayingprofessionsintheUnitedStatesareshownbelow.
Profession
YearlyIncome(in$1,000)
Surgeons 136
Obstetricians 132
Anesthesiologists 130
Internists 126
Pediatricians 116
Psychiatrists 114
Dentists 110
GeneralPractitioners 110
ChiefExecutives 107
AirlinePilots 99
Fortheabovesample,determinethefollowingmeasures(Giveyouranswerindollars).
Themeanyearlysalary
Themedian
Themode
ANSWER:
a. $118,000b. $12,283.68c. $115,000d. $110,000
Thepopulationchangebetween2000and2010forseveralsmallcitiesareshownbelow.
City
PopulationChange(numberofresidents)
Chattanooga 3083
Collegedale 1466
EastRidge -461
Lakeside 1113
Ridgeside -11
SignalMountain 395
Soddy-Daisy 3290
Walden 437
Fortheabovesample,determinethefollowingmeasures.
Themean
Themedian
ANSWER:
a. 1,164
b. 1,385.51
c. 775
TheMichaelPaintingCompanyhaspurchasedpaintfromseveralsuppliers.Thepurchasepricepergallonandthen
umberofgallonspurchasedareshownbelow.
Supplier PricePerGallon($) NumberofGallons

A 23 700
B 25 200
C 29 100
D 27 200
Computetheweightedaveragepricepergallon.
ANSWER: $24.50
Inthefallsemesterof2013,theaverageGraduateManagementAdmissionTest(GMAT)ofthestudentsatalocalco
llegewas500withastandarddeviationof80.Inthefallof2014,theaverageGMATwas560withastandarddeviation
of84.Whichyear’sGMATscoresshowamoredisperseddistribution?
ANSWER: Thecoefficientofvariationin2013=16%.Thecoefficientofvariationin2014=15%.
Therefore,2013hadamoredisperseddistribution.
Thefollowingfrequencydistributionshowsthestartingsalaries(in$1,000s)ofasampleofbusinessstudents:
StartingSalary Frequency
22 -26 3
27 -31 5
32 -36 8
37 -41 4
Fortheabovedata,computethemeanstartingsalary:(Giveyouranswerindollars.)
ANSWER: $32,250
Marissa,afreshmanatalocalcollege,justcompleted18credithours.Hergradereportispresentedbelow.
Course CreditHours Grades

Chemistry 5 C
Calculus 5 A
English 4 C
Music 3 F
P.E. 1 A
Thelocaluniversityusesa4pointgradingsystem,i.e.,A=4,B=3,C=2,D=1,F=0.ComputeMarissa’ssemestergrad
epointaverage.
ANSWER: 2.33
Thepriceofaselectedstockoverafivedayperiodisshownbelow.17,11,13,17,16
Usingtheabovedata,computethemean,themedian,andthemode.
ANSWER: Mean=14.8
Median=16
Mode=17
GlobalEngineershiredthefollowingnumberofClass1engineersduringthefirstsixmonthsofthepastyear.(Assum
ethedatarepresentasample.)
Month No.ofClass1EngineersHired
January 3
February 2
March 4
April 2
May 6
June 0
Determinethemean,themedian,themode,andtherangefortheabovedata.
Computethevarianceandthestandarddeviation.
Computethefirstandthethirdquartiles.
Computethez-scoresforthemonthsofMayandJune.
ANSWER: a. Mean=2.833Median=2.5Mode=2.0Range=6b. S2= 4.166
S = 2.041
Firstquartile=2Thirdquartile = 4
Z-scoreforMay=1.55(rounded)Z-scoreforJune=-1.39(rounded)
Inastatisticsclass,theaveragegradeonthefinalexaminationwas75withastandarddeviationof5.Use
Chebyshev’stheoremtoanswerthefollowingquestions.
Atleastwhatpercentageofthestudentsreceivedgradesbetween50and100?
Determineanintervalforthegradesthatwillbetrueforatleast70%ofthestudents.
(Hint:First,computetheZ-score.)
ANSWER: a. 96%
b. 75±(1.826)(5)=65.87to84.13
Theflashlightbatteriesproducedbyoneofthenorthernmanufacturersareknowntohaveanaveragelifeof60hours
withastandarddeviationof4hours.UseChebyshev’stheoremtoanswerthefollowingquestions.
Atleastwhatpercentageofflashlightswillhavealifeof54to66hours?
Atleastwhatpercentageofthebatterieswillhavealifeof52to68hours?
Determineanintervalforthebatterieslivesthatwillbetrueforatleast80%ofthebatteries.
(Hint:FirstcomputetheZ-score.)
ANSWER: a. 56%
b. 75%
c. 60±(2.236)(4).Thisindicatesthatatleast80%ofthebatterieswillhavelivesof51.056to68.944hours.
Considerasamplewiththefollowingdatavalues.
462
490
350
294
574
ComputetheZscoresfortheabovefiveobservations.
ANSWER: Mean=434
StandardDeviation=112
X Z-Score
462 0.25
490 0.5
350 -0.75
294 -1.25
574 1.25
Thestandarddeviationofasamplewasreportedtobe7.Thereportindicatedthat∑▒(x- x ̅ )^2
ANSWER: 21
Thevarianceofasamplewasreportedtobe81.Thereportindicatedthat∑▒(x- x ̅ )^2
ANSWER: 13
ThefollowingdatashowtheyearlysalariesofasampleofEMBAgraduates.
EMBAStudent Salary(in$1,000)
A 88
B 97
C 90
D 110
E 114
F 98
G 92
H 95
Computethemeanyearlysalaryandgiveyouranswerindollars.
Computethestandarddeviationandgiveyouranswerindollars.
Computethe75thpercentileandgiveyouranswerindollars.Fullyexplainwhatthevaluethatyouhavedeterminedi
ndicates.
ANSWER: a. $98,000
b. $9,355.03
c. $104,000Seventypercentoftheobservationsarelessthanorequaltothisvalue.
Descriptivestatisticsfortheclosingstockpricesoftwocompaniesforseveraltradingperiodsareshownbelow.
Baba,Inc. Maman,Inc.
Mean
4.04
Mean
16.41
StandardError 0.11 StandardError 0.22
Median 4.07 Median 16.83
Mode 3.59 Mode 16.59
StandardDeviation 1.13 StandardDeviation 2.34
SampleVariance 1.28 SampleVariance 5.48
Kurtosis -1.10 Kurtosis 9.10
Skewness 0.04 Skewness -2.85
Range 3.98 Range 12.57
Minimum 2.00 Minimum 6.29
Maximum 5.98 Maximum 18.86
Sum 416.05 Sum 1919.63
Count 103 Count 117
Whichcompany’sstockpricehasamoredisperseddistribution?Explain.Showyourcompleteworkandsupportyo
uranswer.
ComparetheSkewnessofthetwoandexplainwhatisindicated.
ANSWER:
a. CoefficientofvariationforBaba,Inc=27.97%
Coefficient of variation for Maman, Inc = 14.25%
Therefore,Baba,Inc.showsamoredispersedstockpricedistribution
b. Baba, Inc.’s price is skewed to the right (+0.04) and Maman, Inc.’s price is skewed to the left (-2.85).
ThefollowingfrequencydistributionshowstheGMATscoresofasampleofMBAstudents.
GMATScore Frequency
300upto400 1
400upto500 5
500upto600 9
600upto700 3
700upto800 2
Fortheabovedata,computethemeanGMATscore.
ANSWER: 550
ThelastsemestergradesofNancy,afreshmanatalocalcollegeareshownbelow.

Physics 4 C
Calculus 6 A
Biology 3 B
Music 2 F
P.E. 1 A
Thelocaluniversityusesa4pointgradingsystem,i.e.,A=4,B=3,C=2,D=1,F=0.ComputeNancy’s
semestergradepointaverage.
ANSWER: 2.8125
ThefollowingdatashowtheyearlysalariesofasampleofMBAgraduates.
MBAStudent Salary(in$1,000)
A 78
B 87
C 80
D 100
E 104
F 88
G 82
H 85
Computethemeanyearlysalaryandgiveyouranswerindollars.
Computethestandarddeviationandgiveyouranswerindollars.
Computethe75thpercentileandgiveyouranswerindollars.Fullyexplainwhatthevaluethatyouhavedeterminedi
ndicates.
ANSWER: a. $88,000
b.$9,355.03
c.$94,000Seventypercentoftheobservationsarelessthanorequalhisvalue.
Descriptivestatisticsfortheclosingstockpricesoftwocompaniesforseveraltradingperiodsareshownbelow.
Baba,Inc Maman,Inc.
Mean 4.00 Mean 15.91
StandardError 0.11 StandardError 0.29
Median 3.92 Median 16.59
Mode 4.19 Mode 15.58
StandardDeviation 1.12 StandardDeviation 3.21
SampleVariance 1.25 SampleVariance 10.31
Kurtosis -1.15 Kurtosis 3.52
Skewness 0.08 Skewness -2.09
Range 3.95 Range 13.45
Minimum 2.03 Minimum 5.55
Maximum 5.98 Maximum 18.99
Sum 436.32 Sum 1972.61
Count 109 Count 124
Whichcompany’sstockpricehasamoredisperseddistribution?Explain.Showyourcompleteworkandsupportyo
uranswer.
ComparetheSkewness’ofthetwoandexplainwhatisindicated.
ANSWER:
a. CoefficientofvariationforBaba,Inc=28%
Coefficient of variation for Maman, Inc = 20.18%
Therefore,Baba,Inc.showsamoredispersedstockpricedistribution
b. Baba, Inc.’s price is skewed to the right (+0.08) and Maman, Inc.’s price is skewed to the left (-2.09).
ThefollowingfrequencydistributionshowstheGMATscoresofasampleofMBAstudents:
GMATScore Frequency
300upto400 2
400upto500 6
500upto600 10
600upto700 5
700upto800 2
Fortheabovedata,computethemeanGMATscore.
ANSWER: 546
LastsemestergradesofMichael,afreshmanatalocalcollegeareshownbelow.

Chemistry 5 C
Calculus 5 A
English 4 C
Music 3 F
P.E. 1 A
Thelocaluniversityusesa4pointgradingsystem,i.e.,A=4,B=3,C=2,D=1,F=0.ComputeMichael’s
semestergradepointaverage.
ANSWER: 2.33
Populationofacityfortheyears2010through2014areshownbelow.
Year Population
2010 165,927
2011 168,293
2012 169,847
2013 170,819
2014 171,350
Computethegrowthratefortheyears2011through2014.
Computethegeometricmean.
Whathasbeenthepercentageofgrowthinthepopulationofthecitybetween2011to2014?
ANSWER: a.
Growth
2010 ——–
2011 1.014259
2012 1.009234
2013 1.005723
2014 1.003109
b. GeometricMean=1.0081c.0.807%
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Test Bank Essentials of Statistics for Business

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The valueofthesumof thedeviationsfromthemean,i.e.,∑▒(x- x ̅ ) mustalwaysbe

Thevarianceofasamplewasreportedtobe144.Thereportindicatedthat∑▒(x- x ̅ )^2 =7200.Whathasbeenthe

Supplier PricePerGallon($) NumberofGallons

Course CreditHours Grades

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