Straighterline Business Statistics Quiz 1

What level of measurement is the price of an admission ticket to a movie theater?

Ratio

The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called

Statistics

When TV advertisements report "2 out of 3 dentists surveyed indicated they would recommend Brand X toothpaste to their patients," an informed consumer may question the conclusion because:

The advertisement does not include the total number of dentists surveyed.

What is the relationship among the mean, median and mode in a symmetric distribution?

They are all equal

A marketing research agency was hired to test a new DVD player. Consumers rated it outstanding, very good, fair or poor. The level of measurement for this experiment is ordinal.

True

A population is a collection of all individuals, objects, or measurements of interest.

True

Based on a sample of 3,000 people, the civilian unemployment rate in the United States was 5.5%. 5.5% is referred to as a statistic.

True

For an ordered data set with an even number of ungrouped values, half of the values will be less than the median.

True

For any data set, Chebyshev's Theorem estimates the proportion of observations that occurs within k standard deviations of the mean, where k is greater than 1.0.

True

If a variable is measured at the interval or ratio level, all the values are included when computing the mean.

True

In a negatively skewed distribution, the mean is smaller than the median or mode and the mode occurs at the peak of the curve.

True

According to the Empirical Rule, the middle 95 percent of the wires tested between approximately what two values?

"About 95% of the observations will lie within +/- 2 standard deviations of the mean"

The weights of a sample of crates ready for shipment to Moscow, Russia are (in kilograms): 103, 97, 101, 106 and 103. What is the mean deviation?

2.4 kg MD = (∑|X-X ̅|)/n

What is the median of 26, 30, 24, 32, 32, 31, 27 and 29?

29.5

The number of work stoppages in a highly industrialized region for selected months are: 6, 0, 10, 14, 8 and 0. What is the median number of stoppages?

7

What is a disadvantage of the range as a measure of dispersion?

Based on only two observations

The performance of personal and business investments is measured as a percentage, "return on investment". What type of variable is "return on investment"?

Continuous

A listing of 100 family annual incomes is an example of statistics.

False

A store asks shoppers for their zip code to identify market areas. Zip codes are an example of ratio data.

False

According to Chebyshev's Theorem, 75% percent of the observations lie within plus and minus 2.00 average mean deviations.

False

In a company, the standard deviation of the ages of female employees is six years and the standard deviation of the ages of male employees is ten years. These statistics indicate that the dispersion of age is greater for females than for males.

False

The order that runners finish in a race would be an example of continuous data.

False

Which of the following is an example of a continuous variable?

Family Income

For any data set, which measures of central location have only one value?

Mean and median

The final rankings of the top 20 NCAA college basketball teams are an example of which level of measurement?

Ordinal