bnad

if a data set has a population standard deviation of 4 units and a population mean of 10 units, the coefficient of variation is

0.4 (4/10)

If fund A has a coefficient of variation of 1.1 and Fund B has a coefficient of variation of 0.9. Fund_____ has the greater relative dispersion

A, The greater the coefficient of variation, the greater the dispersion

one primary goals when constructing a frequency distribution for quantitiative data is to summarize the data in a manner that

accurately depicts the data as a whole

northern universities college of business wants to determine the average starting salary for last years graduates of its college of business. what is the population from which the survey is taken?

all of last years graduates from Northern College of Business who started working

the union of two events A and B, denotated A u B, contains

all outcomes in A or B

the intersection of events A and B, denoted A (upside down N) contains

all outcomes that are in A and B

one method of graphical presentation for qualitative data is a

bar chart

Which of the following BEST represents an empirical probability

based on past data, a manager believes there is a 70% chance of retaining an employee for a least one year

which of the following events are mutually exclusive

being on time and being late for an appointment, receiving an A and recieving a B as a final grade in an accounting class

relative frequency distributions are generally more useful than frequency distributions when

comparing data sets of different sizes

the branch of statistics that summarizes important aspects of a data set is often referred to as____

descriptive statistics

mutually exclusive events

do not share common outcomes of the experiment

a subset of the sample space is an

event

events that cannot both occur on the same trial of an experiment are mutually ____ events

exclusive

the branch of statistics that draws conclusions about a large set of data based on a smaller set of data is often referred to as

inferential statistics

which measurement scales are associated with quantitative data

interval and ratio

for a qualitative data set, the most meaningful measure of central location is the

mode

the notation S^2 represents the

sample variance

which of the following can be represented by a discrete random variable

the number of defective light bulbs in a sample of 5

which of the following are examples of discrete random variables

the number of people who vote for the democratic candidate in the next president election, the number of students who received an "A' on their stats exam

which of the following scenarios is an example of the interval scale

the outside temperature (in degrees of fahrenheit)

which of the following is an example of conditional probability

the probability that lisa purchases groceries, given that Neil has already purchased groceries

the expected value of the sum of two or more random variables is equal to

the sum of the individual expected values

probability values range from

zero to one

all of the following are characterisitics of discrete uniform distribution except

the distribution is bell-shaped

Mean- variance analysis uses risk and reward to evaluate the rate of return of an asset

the measure associated with risk is the variance, while the measure associated with reward is the mean

when calculating a mean for grouped data,

the midpoint of each class is used to approximate the individual values in that class

the mode is defined as

the most frequent occurring value of data set

The addition rule is used to calculate

the union of two events

a company wants to estimate the mean price of oil over the past 10 years. What kind of data does the company need?

time series data

data that are collected by recording a characteristic of a subject over several time periods are referred to as_____

time series data

measures the average of the squared deviations from the mean

variance

to calculate the probabilty of union for two mutually exclusive events A and B

we add the probability of A to the probability of B

When the correlation coefficient approaches the value, ____ it indicates that there is a weak relationship between the two variables

0

which of the following about the mean absolute deviation (MAD) is true

MAD is denominated in the same units as the original data

True/False: the empirical rule should be applied to data sets that are normally distributed or approximately normally distributed

True

True/False: the standard deviation of a discrete probability distribution measures how dispersed the values are from the mean

True

if an experiment is selecting a card from a deck of cards

all the cards in the deck

The complement of event A within the sample space S contains

all the outcomes in S that are not in A

The interval scale of measurement

allows for the use of negative values

a significant weakness of the ordinal scale is

an inability to measure differences between the ranked values

for any given event, the probability of that event and the probability of that____ must sum to one

complement

a runner's time in a 100-meter race. This variable is best categorized as a _____Variable

continuous

when a researcher examines quantitative data and wants to know the number of observations that fall below the upper limit of a particular class, the researcher is best served by creating a

cumulative frequency distribution

events that include all outcomes in the sample space are known as ____ events

exhaustive

events that include all outcomes in the sample space are known as____events

exhaustive

a trail, or process, that produces several possible outcomes is referred to as

experiment

True/False: Mean-variance analysis suggests that investments with lower average returns are also associated with higher risk

false

True/False: a discrete random variable X may assume an (infinitely) uncountable number of distinct values.

false

quartiles are divided into ___ equal parts

four

a _____ is a way to organize qualitative data into categories and record the number of observations in each category

frequency distribution

for quantitative data, a _____ groups data into classes and records the number of observations that falls into each class

frequency distribution

the appropriate measure of evaluating investment returns over several years is the

geometric mean

there are several guidelines to follow when constructing graphs that summarize statistical data. which of the following statements is least accurate?

graphs should have alot of adornments

larger the standard deviation

higher the risk

what graphical tool is best used to display the relative frequency of grouped, quantitative data

histogram

which of the following graphical depictions is useful for observing the spread of the data for a single variable

histogram

which of the following best describes a fequency distribution for qualitative data

it groups data into categories,

which of the following best describes a frequency distribution for qualitative data

it groups data into categories, and records the number of observations in each category

samples are primarily used to

make inferences about population parameters

in general, the best measure of central location for a data set that contains outliers is the ____

median

the measure of central location that can BEST be labeled as the midpoint of the data set is the

median

the measure of central location where half the values of the data set lie above this measure and half the values of the data set lie below this measure is known as the

median

The _____ is a measure of central location that is most frequent occurring value in the data set

mode

the ratio scale is

more sophisticated than the nominal scale

a professors gender (male, female) represents _____ data and a professors rank (assistant, associate, full) represents____ data

nominal, ordinal

how many outcomes of an experiment constitute a simple event

one

the sum of the probabilities of a list of mutually exclusive and exhaustive events is

one

the arithmetic mean is usually not a good measure of central location if an___ exists

outlier

one method of graphical presentation for qualitative data is an

pie chart

a _____ includes all items of interest in a statistical problem

population

The notation o(with squiggel) represents the

population standard deviation

a relative frequency distribution for quantitative data identifies the

proportion of observations that occur in each class

a variable that is described verbally rather than numerically is called a_____ variable

qualitative

when constructing a histogram what values/labels go on the Horizontal (x) axis and the vertical (y) axis

quantitative class limits on the horizontal axis; frequently or relative frequency on the vertical axis

a function that assigns numerical values to the outcomes of a random experiment is called a

random variable

a research analyst collects data on the weekly closing price of gold throughout the year. The scale of this data is

ratio

if an event is getting a letter grade of A in your statistics class, what is the complement of receiving an A?

receiving any grade except an A

the interquartile range of a data set

represents the middle 50% of the data

The sharpe ratio determines the additional ____ an investor will receive for each additional unit of risk taken

reward

Mean-variance analysis is used to measure the performance of an asset based on its rate of return. Specifically, evaluating the rate of return on the basis of

risk and reward

a _____ is a subset of a population

sample

a ____ of an experiment contains all possible outcomes of the experiment

sample space

the square root of the average of the sum of squared deviations from the mean is known as

standard deviation

a probability based on personal judgment rather than on observation or logical anaylsis is referred to as an

subjective probability

in order to calculate the variance of the sum of two random variables, we

sum the individual variance plus two times the covariance

which of the following is an example of inferential statistics

testing the longevity of all light bulbs based on a simple of 100 light bulbs