Quantitative Analysis - Chapter 2

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

observational study

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

outlier

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

0.43

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?

1

What is the total relative frequency?

1

Compute the geometric mean for the following data on growth factors of an investment for 10 years.

1.0148

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

12

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?

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

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

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

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

Observation

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?

Quantitative Data

The simplest measure of variability is the _____.

Range

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

Sample Mean

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

Supply and Demand

_____ acts as a representative of the population.

The Sample

Compute the 50th percentile for the following data.

15.5

The distribution of hourly sales for a local family owned store is normally distributed with a mean of $225 per hour and a standard deviation of $75 per hour. Which of the following intervals contains the middle 95% of hourly sales?

$75-$375

The variance is based on the _____.

Deviation about the mean

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

Random Sampling

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

Relative frequency

Identify the shape of the distribution in the figure below.

Skewed Right (highest>lowest)

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.

Sort and Filter

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

Time series Data

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

Variable

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

Variation

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

Variation in the data

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

Z-score

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

cumulative frequency distribution

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.)

-1.33

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.)

-2

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

0.12

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

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?

0.25

The College Board originally scaled SAT scores so that the scores for each section were approximately normally distributed with a mean of 500 and a standard deviation of 100. Assuming scores follow a bell-shaped distribution, use the empirical rule to find the percentage of students who scored less than 400.

16%

The College Board originally scaled SAT scores so that the scores for each section were approximately normally distributed with a mean of 500 and a standard deviation of 100. Assuming scores follow a bell-shaped distribution, use the empirical rule to find the percentage of students who scored greater than 700.

2.5%

The College Board reported that the mean Math Level 2 SAT subject test score was 686 with a standard deviation of 96. Assuming scores follow a bell-shaped distribution, use the empirical rule to find the percentage of students who scored less than 494.

2.5%

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

21.25

Compute the coefficient of variation for the following sample data.

21.36%

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

31

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

37%

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?

39.5

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 bin size for the histogram?

4

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

40.6

What is the mode of the data set given below?

47

Use technology to compute the standard deviation for the following sample data.

6.75

For data having a bell-shaped distribution, approximately _____ percent of the data values will be within one standard deviation of the mean.

68

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.

7

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

9.50

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?

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

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?

All patients in a local hospital

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?

All survey respondents

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?

All survey respondents

Select the histogram that is moderately skewed right.

B

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

Box Plot

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

C

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

Categorical Data

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

Conditional Formatting

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

Cross-sectional Data

_____ is the process of removing variables from the analysis without losing crucial information.

Dimension Reduction

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.

Experimental Study

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

Frequency Distribution

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

Histogram

Data sets commonly include observations with missing values for one or more variables. In some cases missing data naturally occur; these are called _____.

Legitimately missing data

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

MODE.MULT

The correlation coefficient will always take values _____.

between -1 and +1

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

the variables are not linearly related