INTRODUCTION TO BUSINESS

STATISTICS 7TH EDITION BY

RONALD WEIERS – TEST BANK

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Sample Test
Chapter 3: Statistical Description of Data

Student: ___________________________________________________________________________

1. True or False

Characteristics of the population are referred to as parameters, while

characteristics of the sample are referred to as statistics.

True    False

2. True or False

When a distribution has more values to the left and tails to the right, we say it is
skewed negatively.

True    False
  

3. True or False

When a distribution has more values to the right and tails to the left, we say it is
skewed positively.

True    False

4. True or False

The weights for a weighted mean calculation must sum up to 1.0.

True    False

5. True or False

The mode is defined as the value that has just as many values above it as it has
below it.

True    False

6. True or False

Measures of dispersion describe typical values in the data.

True    False

7. True or False

The midrange is the average of the two middle data values.

True    False

8. True or False

Percentiles divide the values into 100 parts of equal size, each comprising 1% of
the observations.
 True    False

9. True or False

The mean of a set of values describes the 50th percentile.

True    False

10. True or False

Standardized values have no units, even though the original data, the standard
deviation, and the mean may each represent units such as dollars, hours, or
pounds.

True    False

11. True or False

A standardized value that is either a large positive number or a large negative

number is a relatively usual occurrence.

True    False

12. True or False

The range is a measure of dispersion that includes all the values in the data set
in the calculation.

True    False

13. True or False

The box-and-whisker plot is a graphical device that simultaneously displays

measures of central tendency and dispersion.

True    False

 
14. True or False

The Empirical Rule states that approximately 68% of the observations in any
distribution will fall within one standard deviation of the mean.

True    False

15. True or False

Measures of central tendency and dispersion determined from frequency

distributions are only approximations of the actual values.

True    False

16. Which of the following is not a measure of central tendency?

17. Mean absolute deviation
18. Arithmetic mean
19. Weighted mean
20. Median
21. Mode

17. Which of the following is not a measure of dispersion?

18. Mean absolute deviation
19. Quantiles
20. Weighted mean
21. Range
22. Standard deviation.

18. The measure of central tendency that is least affected by extreme values
is the:
19. the weighted mean.
20. the mean.
21. the variance.
22. the standard deviation.
23. the median.

19. The measure of central tendency that is most affected by extreme values
is the:
20. range.
21. mean.
22. median.
23. mode.
24. coefficient of variation.

20. Which of the following statements is true regarding the normal

distribution?
21. The mean is greater than the median and the median is greater than the
mode.
22. The mean is less than the median and the median is less than the mode.
23. There is no difference in the values of the mean, median, and mode.
24. The mean is greater than the mode, which in turn is greater than the
median.
25. The mean is less than the mode, which in turn is less than the median.

21. In a positively skewed distribution, the:

22. mean is greater than the median and the median is greater than the mode.
23. mean is greater than the median and the median is smaller than the mode.
24. mean is smaller than the median and the median is greater than the mode.
25. mean is smaller than the median and the median is smaller than the mode.
26. mean is equal to the median and the median is equal to the mode.

22. In a negatively skewed distribution, the:

23. mean is greater than the median and the median is greater than the mode.
24. mean is greater than the median and the median is smaller than the mode.
25. mean is smaller than the median and the median is greater than the mode.
26. mean is smaller than the median and the median is smaller than the mode.
27. mean is equal to the median and the median is equal to the mode.

23. When a distribution is bell-shaped with the left half identical to the right
half, it is:
24. skewed positively
25. symmetrical
26. equilateral
27. skewed negatively
28. not applicable for Chebyshev’s theorem

 
24. The value in the data set that occurs with the greatest frequency is known
as the:
25. mode.
26. median.
27. mean.
28. weighted mean.
29. variance.

25. The average score for a class of 25 students was 75. If the 15 female
students in the class averaged 70, then the male students in the class
averaged:
26. 85.0
27. 82.5
28. 77.5
29. 75.0
30. 70.0

26. Which of the following statements are true for the following data values: 9,
7, 8, 6, 9, 10, and 14?
27. The mean, median and mode are all equal
28. Only the mean and median are equal
29. Only the mean and mode are equal
30. Only the median and mode are equal

27. Which of the measures of central tendency would best represent the data
below?

1. Range
2. Mean
3. Median
4. Mode
5. Standard deviation

28. Which of the following statements is correct?

29. The mode gives equal consideration to even very extreme values in the
data.
30. There will be just one value for the mean, median , and mode in the data
set.
31. The median can be strongly influenced by just one or two very low or high
values.
32. The mean is able to make the most complete use of the data when
compared to the median and mode.
33. None of the above are correct.

29. Which of the following statements is correct?

30. The range is found by taking the difference between the high and low
values and dividing by 2.
31. The interquartile range is found by taking the difference between the 1st
and 3rd quartiles and dividing that value by 2.
32. The standard deviation is expressed in terms of the original units of
measurement but the variance is not.
33. The values of the standard deviation may be either positive or negative,
while the value of the variance will always be positive.
34. None of these statements is true.

30. Which of the following statements is correct?

31. The mean is a measure of the deviation in a data set.
32. The standard deviation is a measure of dispersion.
33. The range is a measure of central tendency.
34. The median is a measure of dispersion.
35. The variance is a measure of central tendency.

31. The difference between the largest and smallest values in a data set is
called the:
32. standard deviation.
33. variance.
34. coefficient of variation.
35. range.
36. mean.

32. Deciles:
33. are an array of values in 10 parts of equal size.
34. indicate the median with the fifth decile.
35. divide the values into four parts of equal size.
36. indicate the median with the second decile.
37. both A and B are correct.

33. Which of the following is the simplest measure of dispersion?

34. Range
35. Mean absolute deviation
36. Standard deviation
37. Coefficient of variation
38. Variance

34. Which of the following is not a measure of variability?

35. The range
36. The variance
37. The standard deviation
38. The median
39. The interquartile range

35. Expressed in percentiles, the interquartile range is the difference between

the:
36. 15th and 65th percentiles
37. 20th and 70th percentiles
38. 25th and 75th percentiles
39. 30th and 80th percentiles
40. 35th and 85th percentiles

36. A sample of 15 observations has a standard deviation of 4. The sum of the

squared deviations from the sample mean is:
37. 19
38. 56
39. 60
40. 224
41. 240

37. Which of the following is not a correct statement?

38. The coefficient of variation allows us to compare two sets of data based
on different measurement units.
39. Chebyshev’s theorem applies only to normal distributions.
40. Standardized values have no units of measure.
41. For distributions that are bell-shaped and symmetric, about 68% of the
observations will fall within one standard deviation of the mean.
42. The vertical line within the box in the box-and-whisker plot represents the
median.

38. Chebyshev’s Theorem states that the percentage of observations in a data

set that should fall within five standard deviations of their mean is:
39. 90%.
40. at least 90%.
41. 96%.
42. at least 96%.
43. 25%.

39. The Empirical Rule states that the percentage of observations in a data
set (providing that the data set has a bell-shaped and symmetric distribution)
that fall within one standard deviation of their mean is approximately:
40. 68%
41. 75%
42. 95%
43. 99%

40. A study was conducted of the 12-month earnings per share for two
categories of airline companies.

Based on the above data, which of the following statements is correct?

2. The large airlines have a coefficient of variation of 2.44 while the small
airlines have a coefficient of variation of 3.64.
3. Because the large airlines have mean earnings per share of 3.40 and the
small airlines have mean earnings per share of 1.11, the large airlines have the
largest coefficient of variation.
4. Because the large airlines have mean earnings per share of 3.54 and the
small airlines have mean earnings per share of 1.71, the large airlines have the
largest coefficient of variation.
5. The large airlines have a coefficient of variation of 0.85 and the small
airlines have a coefficient of variation of 2.72.
6. The large airlines have a coefficient of variation of 0.81 and the small
airlines have a coefficient of variation of 1.17.

41. The length of the box in the box-and-whisker plot portrays the:
42. mean
43. median
44. range
45. interquartile range

42. For a set of data, the mean is 50 and the standard deviation is 10. In the
raw data, one of the observations is equal to 74. After the data are
standardized, what will be the standardized value of this observation?
43. +7.4
44. -7.4
45. +2.4
46. -2.4

43. When the standard deviation is expressed as a percentage of the mean,

the result is the:
44. coefficient of correlation.
45. coefficient of determination.
46. coefficient of variation.
47. coefficient of dispersion.

44. Which of the following statements is not correct?

45. Measures of central tendency determined from frequency distributions will
only be approximations of the actual values.
46. Measures of dispersion determined from frequency distributions will only
be approximations of the actual values.
47. In grouped data, each observation is given the value of its classification’s
mid-point.
48. When data are grouped, the value of each individual observation is lost.
49. All of the above statements are correct.

 
45. If the coefficient of correlation , then the best-fit linear equation will
include:
46. 75% of the data points.
47. 85% of the data points.
48. 95% of the data points.
49. all of the data points.

46. The coefficient of correlation r is a number that indicates the:

47. direction of the relationship between the dependent variable y and the
independent variable x.
48. strength of the relationship between the dependent variable y and the
independent variable x.
49. proportion of the variation in the dependent variable y that is explained by
the independent variable x.
50. Only A and B are correct.
51. A, B, and C are all correct.

47. If the coefficient of correlation r = 0, then:

48. the slope of the regression line is zero.
49. there is no linear relationship whatsoever between the dependent variable
y and the independent variable x.
50. the coefficient of determination is zero.
51. All of these are correct.
52. None of these is correct.

48. The numerical value of the coefficient of determination r 2

49. is the proportion of the variation in the dependent variable y that is
explained by the best-fit linear equation.
50. is the proportion of the variation in the independent variable x that is
explained by the best-fit linear equation.
51. indicates the direction of the relationship between the dependent variable
y and the independent variable x.
52. Both A and B are correct.
53. A, B, and C are all correct.

49. A perfect straight line sloping upward would produce a correlation

coefficient equal to:
50. +1.
51. -1.
52. +2.
53. -2.

50. The difference between the mean of a data set and the individual values of
that set is known as the:
51. variance
52. standard deviation
53. residual
54. mean absolute deviation
55. quartile

51. Heidi has been keeping track of what she spends to eat out. The last
week’s expenditures (in dollars) for meals eaten out were 3.69, 3.95, 4.19,
8.91, 5.49, 12.53, and 5.66. Calculate the mean amount she spent on meals
last week.

________________________________________

52. A sample of 10 U.S. families spent the following amounts (in dollars) on
groceries during a one-week period: 31.36, 68.76, 12.25, 10.85, 24.89, 31.48,
49.52, 48.24, 30.04, and 25.63. Find the median amount spent on groceries.

________________________________________

53. For each of the past 10 years, the U.S. unemployment rate has been
recorded as follows: 6.7, 5.5, 5.7, 5.2, 4.5, 3.8, 3.8, 3.6, 3.5, and 4.9. Find the
mean unemployment rate for this period.

________________________________________

54. A sample of interest rates on unpaid credit card balances yields the
following data: 13.25, 13.67, 13.60, 13.29, 12.97, 12.90, 12.76, 12.66, 12.58,
12.77, and 12.91. Find the median interest rate.

________________________________________

 
55. You are interested in beginning a small business enterprise and one
aspect of your research is to look at the loan record for stockholders of small
business corporations. A14-year record of net loans from stockholders of small
business corporations (in billions of dollars) are as follows: 1.6, -0.2, 1.0, 1.4,
-0.1, 0.6, 1.5, 0.9, 2.2, 1.3, 1.9, 1.9, 2.8, and 5.0.

Calculate the mean.

____________________ billion

________________________________________

56. You are interested in beginning a small business enterprise and one
aspect of your research is to look at the loan record for stockholders of small
business corporations. A14-year record of net loans from stockholders of small
business corporations (in billions of dollars) are as follows: 1.6, -0.2, 1.0, 1.4,
-0.1, 0.6, 1.5, 0.9, 2.2, 1.3, 1.9, 1.9, 2.8, and 5.0.

Calculate the median.

____________________ billion

________________________________________

57. You are interested in beginning a small business enterprise and one
aspect of your research is to look at the loan record for stockholders of small
business corporations. A14-year record of net loans from stockholders of small
business corporations (in billions of dollars) are as follows: 1.6, -0.2, 1.0, 1.4,
-0.1, 0.6, 1.5, 0.9, 2.2, 1.3, 1.9, 1.9, 2.8, and 5.0.

Calculate the mode.

____________________ billion

________________________________________
  

58. A student scores 89, 72, 93, and 84 on four exams during the semester and
96 on the final exam. If the final is weighted double and the four others
weighted equally, what would the student’s final average be?

________________________________________

59. The average profit per unit for Product A is $5.32, Product B is $7.98, and
Product C is $9.69. If the percentages of each sold are 36, 29, and 35
respectively, what is the weighted mean profit per unit?

________________________________________

60. Sample values of 13 monthly sales figures (in thousands of dollars) are: 6,
5, 6, 6, 7, 8, 9, 10, 10, 10, 9, 9, and 6.

What is the mean sales figure?

____________________ thousand

________________________________________

61. Sample values of 13 monthly sales figures (in thousands of dollars) are: 6,
5, 6, 6, 7, 8, 9, 10, 10, 10, 9, 9, and 6.

What is the median sales figure?

____________________ thousand

________________________________________

 
62. Sample values of 13 monthly sales figures (in thousands of dollars) are: 6,
5, 6, 6, 7, 8, 9, 10, 10, 10, 9, 9, and 6.

What is the mode?

____________________ thousand

________________________________________

63. Consider the following sample data: 4, 14, 6, 9, 21, 3, 7, and 10.

Calculate the mean.

________________________________________

64. Consider the following sample data: 4, 14, 6, 9, 21, 3, 7, and 10.

Calculate the median.

________________________________________

65. Find the range for the following data: 9, 94, 48, 62, 11, 50, and 6.

________________________________________

66. Find the midrange for the following data: 14, 99, 53, 67, 16, 55, and 11.

________________________________________

67. A sample of 13 monthly sales figures (in thousands of dollars) are: 10, 6, 5,
10, 9, 7, 10, 9, 6, 8, 9, 6, and 6.
  

Calculate the mean absolute deviation.

________________________________________

68. A sample of 13 monthly sales figures (in thousands of dollars) are: 10, 6, 5,
10, 9, 7, 10, 9, 6, 8, 9, 6, and 6.

Calculate the sample standard deviation.

________________________________________

69. A sample of 13 monthly sales figures (in thousands of dollars) are: 10, 6, 5,
10, 9, 7, 10, 9, 6, 8, 9, 6, and 6.

What is the sample variance?

________________________________________

70. A sample of 13 monthly sales figures (in thousands of dollars) are: 10, 6, 5,
10, 9, 7, 10, 9, 6, 8, 9, 6, and 6.

What is the coefficient of variation?

________________________________________

71. The top twenty TV markets in the United States are:

 
 What is the median?

____________________ (Remove all commas from your answer before submitting).

________________________________________

72. The top twenty TV markets in the United States are:

What is the first quartile?

____________________ (Remove all commas from your answer before submitting).

________________________________________

73. In preparation for a pizza party, the students at State University surveyed
the price of medium-sized pizzas for local restaurants:

What is the range of these prices?

________________________________________

74. In preparation for a pizza party, the students at State University surveyed
the price of medium-sized pizzas for local restaurants:

 
  

What is the mid-range?

________________________________________

75. Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.

Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.  What is the
range of this data sample?

________________________________________

76. Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.

Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.  What is the
mean absolute deviation?

________________________________________

77. Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.

Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.  What is the
standard deviation?

________________________________________

78. Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.

Consider the following sample data: 6, 10, 4, 3, 7, 9, 21, and 14.  What is the
variance?

________________________________________
  

79. What is the coefficient of variation of the following sample data set: 12, 9,
5, 23, 11, 8, 16, and 6?

________________________________________

80. In a test of a lifelong brand of tires, a survey revealed that the mean life
was 35,000 miles and the standard deviation was 7,083 miles. If the shape of
the population distribution is not known, approximately what percentage of
the tires last less than 20,834 miles?

________________________________________

81. The mean of fifty sales receipts is $58.35 and the standard deviation is
$10.38. Using Chebyshev’s theorem, determine how many sales receipts were
between $37.59 and $79.11.

________________________________________

82. Your final statistics grade will be based on your final exam score, a
homework score, and a final project, each weighted according to the following
table.

Type      Score     Weight

Exam     94           50%

Project 89           35%

Homework         83           15%

Determine your final grade.

________________________________________

 
83. The following table represents the number of days that a hardware store
experienced various daily demands for a particular hammer during the past 65
days of business.

Daily Demand    Number of Days

0              10

1              15

2              12

3              18

4              16

5              4

Determine the average daily demand over this time period.

________________________________________

84. The frequency of cell phone call per day on a certain account is tabulated
in the following table:

Calls per Day      Number of Days

0-2          12

3-5          8

6-8          5

9-11       3

12-14     1

15-17     1
  

Calculate the average number of calls per day.

________________________________________

85. The frequency of cell phone call per day on a certain account is tabulated
in the following table:

Calls per Day      Number of Days

0-2          12

3-5          8

6-8          5

9-11       3

12-14     1

15-17     1

Calculate the standard deviation of calls per day.

________________________________________

86. A company counted the number of their employees in each of the following
age classes. According to this distribution, what is the average age of the
employees in the company?

 
 Age Range          Number of Employees

20-24     8

25-29     37

30-34     25

35-39     48

40-44     27

45-49     10

________________________________________

87. A survey asked 200 respondents how many children under the age of 18
live in the household. The following table summarizes the results.

Number of Children        Number of Households

0              40

1              24

2              62

3              26

4              32

5              16

Total      200

Calculate the mean number of children in the distribution.

 ________________________________________

88. Let x be the class mark for each of the intervals below.

Find the sample mean for these grouped data.

________________________________________

89. Let x be the class mark for each of the intervals below.

Compute the sample standard deviation for the data above.

________________________________________

90. The salaries (in thousands of dollars) for a sample of 13 employees of a

firm are: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.

Compute the mean salary.

________________________________________

91. The salaries (in thousands of dollars) for a sample of 13 employees of a

firm are: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.

 
 Compute the median salary.

________________________________________

92. The salaries (in thousands of dollars) for a sample of 13 employees of a

firm are: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.

Compute the variance of the salaries.

________________________________________

93. The salaries (in thousands of dollars) for a sample of 13 employees of a

firm are: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.

Compute the standard deviation of the salaries.

________________________________________

94. The salaries (in thousands of dollars) for a sample of 13 employees of a

firm are: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.

Compute the coefficient of variation.

________________________________________

95. The salaries (in thousands of dollars) for a sample of 13 employees of a

firm are: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.

Compute the range.

 ________________________________________

96. The salaries (in thousands of dollars) for a sample of 13 employees of a

firm are: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.

Compute the first quartile.

________________________________________

97. The salaries (in thousands of dollars) for a sample of 13 employees of a

firm are: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.

Compute the third quartile.

________________________________________

98. The salaries (in thousands of dollars) for a sample of 13 employees of a

firm are: 26.5, 23.5, 29.7, 24.8, 21.1, 24.3, 20.4, 22.7, 27.2, 23.7, 24.1, 24.8, and
28.2.

Compute the 90th percentile.

________________________________________

99. A monthly report to the Texas Department of Health, division of Water

Hygiene, contained the following water production data in thousands of
gallons:

 
 Calculate the interquartile range.

________________________________________

100. Measures of ____________________ are numbers that describe typical values in

the data.

________________________________________

101. Measures of ____________________ are numbers that describe the scatter of

the data or the extent to which the data values are spread out.

________________________________________

102. The coefficients of correlation and determination are two statistical

measures of ____________________.

________________________________________

103. The mean is one of the most frequently used measures of

____________________.

________________________________________

104. The measure of dispersion which sums the absolute values of the
differences between the individual values and the mean, and then divides by
the number of individual values is known as the ____________________.

________________________________________