BIA Chapter 3 Definitions

A graph with skewness −1.8 would be which of the following? a. moderately skewed right b. moderately skewed left c. highly skewed left d. highly skewed right

d. highly skewed right

The five-number summary consists of what five statistical measures? a. Q1, Q2, median, Q3, Q4 b. min, Q1, mean, Q3, max c. Q1, Q2, mean, Q3, Q4 d. min, Q1, median, Q3, max

d. min, Q1, median, Q3, max

The correlation coefficient ranges from which two values? a. minus infinity and plus infinity b. 0 and 1 c. 1 and 100 d. −1 and +1

d. −1 and +1

Which of the following depicts a moderately left-skewed distribution?

graph low to high from left to right

Since the median is the middle value of a data set, it must always be _____. a. smaller than the mode b. larger than the mode c. smaller than the mean d. None of these answers are correct.

d. None of these answers are correct.

If the data distribution is symmetric, the skewness is _____. a. 0 b. .5 c. 1 d. None of these answers are correct.

a. 0

Which of the following is NOT a measure of variability of a single variable? a. covariance b. range c. coefficient of variation d. standard deviation

a. covariance

The measure of location often used in analyzing growth rates in financial data is the _____. a. geometric mean b. arithmetic mean c. weighted mean d. hyperbolic mean

a. geometric mean

The coefficient of variation indicates how large the standard deviation is relative to the _____. a. mean b. variance c. median d. range

a. mean

The 50th percentile is the _____. a. median b. mean c. mode d. third quartile

a. median

For data skewed to the left, the skewness is _____. a. negative b. positive c. between 0 and .5 d. less than 1

a. negative

A(n) _____ is an unusually small or unusually large data value. a. outlier b. sample statistic c. median d. z-score

a. outlier

The 75th percentile is also the _____. a. third quartile b. second quartile c. first quartile d. fourth quartile

a. third quartile

Which of the following is NOT a measure of location? a. variance b. mean c. median d. mode

a. variance

Which of the following values of r indicates the strongest correlation? a. −.9 b. .82 c. 0 d. .361

a. −.9

Suppose annual salaries for sales associates from Hayley's Heirlooms have a bell-shaped distribution with a mean of $32,500 and a standard deviation of $2,500.The z-score for a sales associate from this store who earns $37,500 is _____. a. .92 b. 2 c. 37.5 d. −2

b. 2

A set of visual displays organizing and presenting information used to monitor the performance of a company or organization in a manner that is easy to read, understand, and interpret is called a _____. a. crosstabulation b. data dashboard c. stem-and-leaf display d. stacked bar chart

b. data dashboard

Which of the following is not a measure of dispersion? a. range b. standard deviation c. 50th percentile d. interquartile range

c. 50th percentile

When the data are positively skewed, the mean will usually be _____. a. greater than the mode b. less than the mode c. greater than the median d. less than the median

c. greater than the median

In a five-number summary, which of the following is NOT used for data summarization? a. largest value b. median c. mean d. smallest value

c. mean

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

c. range

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

c. sample statistic

Which of the following symbols represents the standard deviation of a population? a. μ b. x̄ c. σ d. σ 2

c. σ