busa exam 1 hw

James's manager asked him to sort the last names in the following list in descending order. What does this mean?

d. The last names must be sorted from Z to A.

You have been asked to reorganize the Excel table below into order of sales using the Sales column. Which option will allow you to do this quickly?

d. Use the Sort function to organize the data into order of sales.

The scatter chart in the following figure was created using sample data for profits and market capitalizations from a sample of firms in the Fortune 500. a) Discuss what does this scatter chart indicates about the relationship between profits and market capitalization? b) The data used to produce this are contained in the file Fortune500. Calculate the covariance between profits and market capitalization. c) Calculate the correlation coefficient between profits and market capitalization.

a) The scatter chart indicates that there may be a positive linear relationship between profits and market capitalization. b) 131804979 This indicates that there is a positive relationship between profits and market capitalization c) 0.8229 This indicates that there is a strong linear relationship between profits and market capitalization.

In a recent report, the top 5 most-visited English-language web sites were google.com (GOOG), facebook.com (FB), youtube.com (YT), yahoo.com (YAH), and wikipedia.com (WIKI). The most-visited web sites for a sample of 50 Internet users follow. a) Are these data categorical or quantitative? b) Provide frequency and percent frequency distributions. c) On the basis of the sample, which web site is most frequently the most-often-visited web site for Internet users? Which is second?

a) categorical c) GOOG, YAH

Consider a sample with data values of 10, 20, 12, 17, and 16. a) Compute the mean and median. b) Consider a sample with data values 10, 20, 12, 17, 16, and 12. How would you expect the mean and median for these sample data to compare to the mean and median for part a (higher, lower, or the same)? c) Compute the mean and median for the sample data 10, 20, 12, 17, 16, and 12.

a) mean=15 median=16 b) Both the mean and median will decrease. c) mean=14.5 median=14

Below is a histogram for the number of days that it took Wyche Accounting to perform audits in the last quarter of last year. What is the frequency of the 25-28 bin?

a. 1

What is the total relative frequency?

a. 1

Compute the 50th percentile for the following data. 10, 15, 17, 21, 25, 12, 16, 11, 13, 22

a. 15.5

Compute the third quartile for the following data. 10, 15, 17, 21, 25, 12, 16, 11, 13, 22

a. 21.25

Consider the data below. What percentage of students scored grade C?

a. 37%

In a survey of patients in a local hospital, 62.42% of the respondents indicated that the health care providers needed to spend more time with each patient. Who makes up the population?

a. All patients in a local hospital

Scores on Ms. Bond's test have a mean of 70 and a standard deviation of 11. David has a score of 52 on Ms. Bond's test. Scores on Ms. Nash's test have a mean of 64 and a standard deviation of 6. Steven has a score of 52 on Ms. Nash's test. Which student has the higher standardized score?

a. David's standardized score is -1.64 and Steven's standardized score is -2.00. Therefore, David has the higher standardized score.

Which Excel command will return all modes when more than one mode exists?

a. MODE.MULT

Compute the mode for the following data. 12, 16, 19, 10, 12, 11, 21, 12, 21, 10

b. 12

Use technology to compute the standard deviation for the following sample data. 32, 41, 36, 24, 29, 30, 40, 22, 25, 37

b. 6.75

_____ acts as a representative of the population.

b. A sample

The amount of time taken by each of 10 students in a class to complete an exam is an example of what type of data?

b. Quantitative data

Suppose that at the beginning of 2004 you invested $10,000 in the Stivers mutual fund and $5,000 in the Trippi mutual fund. The value of each investment at the end of each subsequent year is provided in the table below: Which of the two mutual funds performed better over this time period?

trippi mutual fund

Five observations taken for two variables follow. a) Choose the correct scatter diagram with x on the horizontal axis. What does the scatter diagram indicate about the relationship between the two variables? b) Compute the sample covariance. If needed, round your answer to one decimal digit. If your answer is negative use "minus sign". Interpret the sample covariance. c) Compute the sample correlation coefficient. If needed, round your answer to three decimal digits. If your answer is negative use "minus sign". Interpret the sample correlation coefficient.

a) graph 1 b) -60 There is a negative linear relationship between the two variables. Based on the sample covariance, the strength of this relationship cannot be determined c) -0.969 There is a strong negative linear relationship between the two variables. The sample correlation coefficient can determine the strength of the relationship.

Which graph represents a negative linear relationship between x and y?

a. C

In a survey of patients in a local hospital, 62.42% of the respondents indicated that the health care providers needed to spend more time with each patient. Who makes up the sample?

c. All survey respondents

Identify the shape of the distribution in the figure below.

c. Skewed right

When working with data sets in Excel, _____ can be used to automatically highlight cells that meet specified requirements.

c. conditional formatting

The _____ shows the number of data items with values less than or equal to the upper class limit of each class.

c. cumulative frequency distribution

Suppose that the average waiting time for a patient at a physician's office is just over 29 minutes. In order to address the issue of long patient wait times, some physicians' offices are using wait-tracking systems to notify patients of expected wait times. Patients can adjust their arrival times based on this information and spend less time in waiting rooms. The following data show wait times (in minutes) for a sample of patients at offices that do not have a wait-tracking system and wait times for a sample of patients at offices with a wait-tracking system. a) What are the mean and median patient wait times for offices with a wait-tracking system? What are the mean and median patient wait times for offices without a wait-tracking system? b) What are the variance and standard deviation of patient wait times for offices with a wait-tracking system? What are the variance and standard deviation of patient wait times for visits to offices without a wait-tracking system? c) Choose the correct box plot for patient wait times for offices without a wait-tracking system. d) Choose the correct box plot for patient wait times for offices with a wait-tracking system. e) Do offices with a wait-tracking system have shorter patient wait times than offices without a wait-tracking system?

a) mean= 17.2 median= 13.5 mean= 29.1 median= 23.5 b) variance= 86.18 standard deviation= 9.28 variance= 275.66 standard deviation= 16.6 c) graph 3 d) graph 2 e) yes, he mean and median wait times for patients with the wait-tracking system are less than the corresponding values for patients without the wait-tracking system. Wait times for patients without the wait-tracking system have greater variability than wait time for patients with the wait-tracking system.

A Wall Street Journal subscriber survey asked 46 questions about subscriber characteristics and interests. State whether each of the following questions provides categorical or quantitative data. a) What is your age? b) Are you male or female? c) When did you first start reading the WSJ? High school, college, early career, midcareer, late career, or retirement? d) How long have you been in your present job or position? e) What type of vehicle are you considering for your next purchase? Nine response categories include sedan, sports car, SUV, minivan, and so on.

a) quantitative b) categorical c) categorical d) quantitative e) categorical

Suppose that the average waiting time for a patient at a physician's office is just over 29 minutes. In order to address the issue of long patient wait times, some physicians' offices are using wait-tracking systems to notify patients of expected wait times. Patients can adjust their arrival times based on this information and spend less time in waiting rooms. The following data show wait times (minutes) for a sample of patients at offices that do not have a wait-tracking system and wait times for a sample of patients at offices with a wait-tracking system. a) Considering only offices without a wait-tracking system, what is the z-score for the 10th patient in the sample (wait time = 37 minutes)? b) Considering only offices with a wait-tracking system, what is the z-score for the 6th patient in the sample (wait time = 37 minutes)? How does this z-score compare with the z-score you calculated for part (a)? c) Based on z-scores, do the data for offices without a wait-tracking system contain any outliers? Based on z-scores, do the data for offices with a wait-tracking system contain any outliers?

a) z score= 0.48 b) z score=2.13 Both patients had wait times that exceeded- the means of their respective samples, as indicated by the positive z-scores. Even though the patients had the same wait time, the z-score for the sixth patient in the sample who visited an office with a wait tracking system is much larger because that patient is part of a sample with a smaller mean and standard deviation. c) no, no

Which of the following are necessary to be determined to define the classes for a frequency distribution with quantitative data?

a. Number of nonoverlapping bins, width of each bin, and bin limits

Which of the following relationships would have a negative correlation coefficient?

a. Supply and demand

In a(n) _____, one or more variables are identified and controlled or manipulated so that data can be obtained about how they influence the variable of interest identified first.

a. experimental study

A set of values corresponding to a set of variables is defined as a(n) _____.

a. observation

Any data value with a z-score less than -3 or greater than +3 is considered to be a(n) _____.

a. outlier

When working with large spreadsheets with many rows of data, it can be helpful to _____ the data to better find, view, or manage subsets of data.

a. sort and filter

Data collected from several entities over a period of time (minutes, hours, days, etc.) are called _____.

a. time series data

A _____ determines how far a particular value is from the mean relative to the data set's standard deviation.

a. z-score

Consumer complaints are frequently reported to the Better Business Bureau. Industries with the most complaints to the Better Business Bureau are often banks, cable and satellite television companies, collection agencies, cellular phone providers, and new car dealerships. The results for a sample of 200 complaints are in the file BBB. a) Show the frequency and percent frequency of complaints by industry. b) Which industry had the highest number of complaints? c) Comment on the percentage frequency distribution for complaints.

b) cellular phone providers c) new car dealers and cable and satellite television companies had about the same number of complaints. banks and collection agencies had about the same number of complaints.

Compute the relative frequencies for the data given in the table below:

b. 0.18, 0.31, 0.37, 0.14

Below is a histogram for the number of days that it took Wyche Accounting to perform audits in the last quarter of last year. What is the relative frequency of the 21-24 bin?

b. 0.25

Compute the coefficient of variation for the following sample data. 32, 41, 36, 24, 29, 30, 40, 22, 25, 37

b. 21.36%

Below is the data for the number of days that it took Wyche Accounting to perform audits in the last quarter of last year. 56, 42, 37, 29, 45, 51, 30, 25, 34, 57 What is the median number of days that it took Wyche Accounting to perform audits in the last quarter of last year?

b. 39.5

Compute the mean of the following data. 56, 42, 37, 29, 45, 51, 30, 25, 34, 57

b. 40.6

The correlation coefficient will always take values _____.

b. between -1 and +1

A _____ is a graphical summary of data previously summarized in a frequency distribution.

b. histogram

The letter grades (A, B, C, D, F) of business analysis students are recorded by a professor. This variable's classification _____.

b. is categorical data

The data collected from the customers in restaurants about the quality of food is an example of a(n) _____.

b. observational study

The act of collecting data that are representative of the population data is called _____.

b. random sampling

If covariance between two variables is near 0, it implies that _____.

b. the variables are not linearly related

The difference in a variable measured over observations (time, customers, items, etc.) is known as _____.

b. variation

Scores on Ms. Nash's test have a mean of 64 and a standard deviation of 9. Steve has a score of 52. Convert Steve's score to a z-score. (Round to two decimal places if necessary.)

c. -1.33

Compute the relative frequency for students who earned an A shown in the table of grades below.

c. 0.12

Compute the relative frequency for students who earned a C shown in the table of grades below.

c. 0.43

Compute the median of the following data. 32, 41, 36, 24, 29, 30, 40, 22, 25, 37

c. 31

Compute the IQR for the following data. 10, 15, 17, 21, 25, 12, 16, 11, 13, 22

c. 9.50

A summary of data that shows the number of observations in each of several nonoverlapping bins is called a(n) _____.

c. frequency distribution

The simplest measure of variability is the _____.

c. range

The _____ is a point estimate of the population mean for the variable of interest.

c. sample mean

A quantity of interest that can take on different values is known as a(n) _____.

c. variable

Scores on Ms. Bond's test have a mean of 70 and a standard deviation of 11. Michelle has a score of 48. Convert Michelle's score to a z-score. (Round to two decimal places if necessary.)

d. -2

What is the mode of the data set given below? 35, 47, 65, 47, 22

d. 47

A sample of 13 adult males' heights are listed below. 70, 72, 71, 70, 69, 73, 69, 68, 70, 71, 67, 71, 74 Find the range of the data.

d. 7

A manager of a fast food restaurant wants the drive-thru employee to ask every fifth customer if he or she is satisfied with the service. Who makes up the population?

d. All customers who use the drive-thru window of this fast food restaurant

A manager of a fast food restaurant wants the drive-thru employee to ask every fifth customer if he or she is satisfied with the service. Who makes up the sample?

d. All survey respondents

Which of the following graphs provides information on outliers and IQR of a data set?

d. Box plot

_____ are collected from several entities at the same point in time.

d. Cross-sectional data

Which of the following gives the proportion of items in each bin?

d. Relative frequency

The variance is based on the _____.

d. deviation about the mean

The goal regarding using an appropriate number of bins is to show the _____.

d. variation in the data

Consider a sample with data values of 53, 55, 70, 58, 64, 57, 53, 69, 57, 68, and 53. Compute the mean, median, and mode.

mean=59.73 median=57 mode=53