chapter 4 Business

The interquartile range is a measure of dispersion usually used along with the median. What is the definition of interquartile range?

The distance between the first and third quartile. I.e. (. Q3 - Q1)

Suppose a given data set has the following characteristics: Minimum value: 120 Q1: 160 Q2: 190 Q3: 200 Maximum Value: 220 Which of the following is true about the distribution of the data?

The distribution is negatively skewed.

Suppose a given data set has the following characteristics: Minimum value: 120 Q1: 160 Q2: 190 Q3: 200 Maximum Value: 220 Which of the following is true about the distribution of the data?

The distribution is negatively skewed. correct Reason: There are more values to the left of the median than to the right.

Dot plots allow one to observe which of the following? Select all that apply.

The spread in a distribution. The shape of a distribution. The center of a distribution.

What is the measure of position called below which 75% of the observations occur? The third quartile The 25th percentile One standard deviation above the mean, The third decile

The third quartile

Which of the following are measures of position? Multiple select question. the quartiles Quartiles divide the data into four equal parts. the standard deviation Reason: This is a measure of dispersion. the median the deciles Reason: Deciles divide the data into ten equal parts.

the quartiles the median the deciles

Each of the following is a measure of position in a set of data except:

the standard deviation

For the following ordered set of data, find the 40th percentile. 0, 2, 4, 5, 5, 6, 7, 7, 8

5 L40=(9+1)(40/100)=

What would the location of the 11th percentile be for a data set with 50 observations?

5.61

In the contingency table shown, how many below median profit sales were made by the Sheffield dealership?

26

For the following ordered set of data, find the 25th percentile. 0, 0, 2, 3, 5, 5, 6, 7, 7, 8, 9, 10, 11, 13, 14

3

What would the location of the 83rd percentile be for a data set with 40 observations?

34.03

For the following ordered set of data, find the 60th percentile. 0, 2, 3, 5, 5, 6, 8, 10, 10, 11, 12, 14, 16 Multiple choice question. 8.4 6.0 13 10

Lp=(n+1)*p/100 L60=(13+1)*60/100= 8.4 The 60th percentile is 40% of the way from the 8th observation to the 9th observation. Since the 8th and 9th observations are the same, the 60bthpercentile is 10.

Identify the shape of the distribution shown in the picture. Multiple choice question. Negatively Skewed Bimodal Symmetrical Positively Skewed

Negatively Skewed

Contingency tables are used for summarizing data of what level? Select all that apply.

Nominal Ordinal

Which of the following are features of a dot plot? Select all that apply.

One dot for each observation. Dots "piled up" for observations very close together. A horizontal line indicating the possible values of the data.

When you create a dot plot, you do which of these operations? Select all that apply.

Place a dot along a horizontal scale for each observation. "Pile up" dots that are too close to show separately.

If a set of data exhibits significant positive skewness, then which of the following would be expected of Pearson's coefficient of skewness? Multiple choice question. The coefficient should be less than 0. The coefficient should be close to 0. The coefficient should be much larger than 3. The coefficient should be close to 3.

The coefficient should be close to 3.

If a set of data exhibits significant positive skewness, then which of the following would be expected of Pearson's coefficient of skewness?

The coefficient should be close to 3.

Which one of these statements is not part of the description of a scatter diagram?

The data points are connected to create a graph.

The interquartile range is a measure of dispersion usually used along with the median. What is the definition of interquartile range?

The distance between the first and third quartile.

In the contingency table shown, which dealership had more than half of their sales above median profit?

Tionesta

What is the function of "quartiles"? tu phan

To divide a set of observations into four equal parts

Match the coefficient of skewness (it could be either Pearson's or the Software coefficient) to the correct interpretation. sk=1.83 sk=0.01 sk=-1.52 sk=2.60

sk=1.83 Moderate Positive Skewnesss k=0.01 very nearly symmetrical sk=-1.52 moderate negative skewness sk=2.60 considerable positive skewness

Which one of the following formulas is Pearson's Coefficient of Skewness?

sk=3(X−Median)/s

Which of the following is not a measure of position?

standard deviation do lech chuan the standard deviation measures the spread of the data.

In the contingency table shown, which dealership had more than half of their sales above median profit? Olean Sheffiled Tionesta Kane

Tionesta

Identify the shape of the distribution shown in the picture. Multiple choice question. Positively Skewed Symmetrical Negatively Skewed Bimodal

A bimodal distribution has two peaks

Choose the statement that best describes a scatter diagram.

A graphical technique to show the relationship between two variables,

A dot plot would be appropriate to display which one of the following kinds of data?

A small set of data.

For a given data set, suppose Q1 = 70, Q2 = 80, Q3 = 100. Which of the following is true about outliers?

An observation of 20 would be an outlier.

The Thomas Supply Company Incorporated is a distributor of gas-powered generators. As with any business, the length of time customers take to pay their invoices is important. Listed below, arranged from smallest to largest, is the time, in days, for a sample of the Thomas Supply Company Incorporated invoices. 131313202629333434343535363738414141424547474749515456626782

Determine the first and third quartiles. Determine the second decile and the eighth decile.

Which one of the following pairs of variables would be best-suited for a contingency table? (A contingency table is appropriate when we are studying two or more categorical variables.)

Favorite Color and Gender

Describe the differences between a histogram and a dot plot. When might a dot plot be better than a histogram? Histogram is better for large data sets and dot plot is better for small data sets. Histogram is better for small data sets and dot plot is better for large data sets.

Histogram is better for large data sets and dot plot is better for small data sets.

What statements below describe the relative use of dot plots and histograms? Select all that apply.

Histograms are more useful for large data sets. Dot plots are most useful for small data sets.

Choose the correct formula for the location L p from n observations where P is the desired percentile.

L p = (n+1) P over 100

For the following ordered set of data, find the 90th percentile. 0, 2, 3, 5, 5, 6, 8, 10, 10, 11, 12, 14, 16, 20, 23 14.4 20 21.2 23

L p=(n+1) *P/100 L90=(15+1) *(90/100)=14.4 The 90th percentile is 40% of the way from the 14th observation to the 15thobservation. 20 + .4(23-20) = 21.2

For a given data set, suppose Q1 = 40, Q2 = 45, Q3 = 50. Also, suppose that the three smallest observations are 20, 24, and 28. Which of the following is true about the box plot for this data set?

There would be two asterisks plotted to indicate outliers at 20 and 24.

Multiple Choice Question For the scatter diagram shown, what is the relationship between the variables? Multiple choice question. Moderate positive relationship. Little or no relationship Strong positive relationship. Moderate negative relationship.

Little or no relationship

Identify the shape of the distribution shown in the picture. Multiple choice question. Bimodal Positively Skewed Negatively Skewed Symmetrical

Positively Skewed

For the scatter diagram shown, how would you characterize the relationship between the variables? Multiple choice question. Weak relationship Strong positive relationship (As one variable increases, the other decreases.) Strong negative relationship No relationship

Strong negative relationship

For the scatter diagram shown here, what kind of relationship do you see between the variables? Multiple choice question. Weak positive relationship. Strong negative relationship. Strong positive relationship. Moderate positive relationship.

Strong positive relationship. (Reason: You can also see that the x-variable is discrete._