BUS 310 Quiz 3

To compute the Z-score of a data value, subtract the ____ and divide by the ______. .

(value - mean) / (standard deviation)

The empirical rule states that for bell-shaped data, approximately ___ of the data is within 2 standard deviations from the mean.

95% Note: The empirical rule states that for a normal distribution, nearly all of the data will fall within three standard deviations of the mean. The empirical rule can be broken down into three parts: 68% of data falls within the first standard deviation from the mean. 95% fall within two standard deviations.

Which measure of variation can be used to compare the variability of two or more sets of data measured in different units?

Coefficient of Variation

Which measure of variation is the MOST sensitive to outliers?

Range

The ______ describes how data are distributed.

Shape

The Range, IQR, Standard Deviation, and CV are never negative.

True

The most common measure of central tendency is the

mean

The _____ is a central tendency that is affected by extreme values (outliers) while the _______ is not.

mean, median

Measures of variation give information on the ____ or _____ of the data values.

spread, variability

Numerical descriptive measures of a sample are called ____ and summary measures of the population are called ____

statistic, parameter