Chapter 3 Business Analytics

The measure of dispersion that is influenced most by extreme values is the _____. -standard deviation -interquartile range -variance -range

range

Which of the following symbols represents the size of a population? -σ 2 -N -σ -μ

N

The interquartile range is the difference between the _____. -first and third quartiles -second and fourth quartiles -first and second quartiles -second and third quartiles

first and third quartiles

Which of the following symbols represents the variance of a population? σ 2 X (with line above) σ μ

σ 2

The coefficient of variation indicates how large the standard deviation is relative to the _____. -variance -median -range -mean

-mean

The measure of location most likely to be influenced by extreme values in the data set is the _____. -mean -median -mode -range

-mean

After the data have been arranged from smallest value to largest value, the value in the middle is called the _____. -range -median -interquartile range -mean

-median

Since the mode is the most frequently occurring data value, _____. -more than one mode can exist -it is always larger than the mean -it is always larger than the median -it can never be larger than the mean

-more than one mode can exist

A numerical measure, such as a mean, computed from a population is known as a _____. -sample statistic -sample parameter -population statistic -population parameter

-population parameter

The measure of variability easiest to compute, but seldom used as the only measure, is the _____. -interquartile range -standard deviation -range -variance

-range

The variance is equal to the _____. -square root of the standard deviation -inverse value of the standard deviation -absolute value of the standard deviation -squared value of the standard deviation

-squared value of the standard deviation

Which of the following descriptive statistics is NOT measured in the same units as the data? -variance -standard deviation -35th percentile -interquartile range

-variance

If the data distribution is symmetric, the skewness is _____. 0 -.5 .5 1

0

A graph with skewness -1.8 would be which of the following? -highly skewed right -highly skewed left -moderately skewed right -moderately skewed left

-highly skewed left

Generally, which of the following is the least appropriate measure of central tendency for a data set that contains outliers? -mode -mean -median -midrange

-mean

The sum of deviations of the individual data elements from their mean is _____. -always greater than zero -always less than zero -sometimes greater than and sometimes less than zero, depending on the data elements -always equal to zero

-always equal to zero

Which of the following values of r indicates the strongest correlation? .82 -.9 0 .361

-.9

Which of Excel's functions can be used to compute the population standard deviation? -Population standard deviation cannot be computed using an Excel function. -STDEV -VAR.SQRT -STDEV.S

-Population standard deviation cannot be computed using an Excel function.

A boxplot is a graphical representation of data that is based on _____. -a histogram -z-scores -a five-number summary -the empirical rule

-a five-number summary

The empirical rule states that, for data having a bell-shaped distribution, the portion of data values being within one standard deviation of the mean is approximately _____. 50% 33% 68% 95%

68%

If r = 0.48 for data set A and r = -0.48 for data set B, which of the following is true? -The two data sets have the same level of correlation. -The data values in A are all positive, while the data values in B are all negative. -The two data sets have an almost perfect linear relationship between their respective variables. -The variables in A are more strongly correlated than the variables in B.

The two data sets have the same level of correlation.

Which of the following symbols represents the mean of a sample? μ X (with line above) σ σ 2

X with line above

Positive values of covariance indicate _____. a positive variance of the x values a positive variance of the y values the standard deviation is positive a positive relation between the x and y variables

a positive relation between the x and y variables

The value of the sum of the squared deviations from the mean, i.e., must always be _____. -at least zero -negative -either positive or negative, depending on whether the mean is negative or positive -less than the mean

at least zero

A numerical measure of linear association between two variables is the _____. standard deviation z-score correlation coefficient variance

correlation coefficient

Which of the following symbols represents the size of a sample? σ 2 n σ N

n

The symbol σ 2 is used to represent the _____. variance of a sample standard deviation of a population standard deviation of a sample variance of a population

variance of a population

Which of the following symbols represents the mean of a population? σ 2 μ σ

μ

Which of the following symbols represents the standard deviation of a population? σ μ σ 2 X (with line above)

σ