1.

Calculate coefficient of variation for the following data 2,4,8,6,10 and 12 is

A. 48.86 mean = (2+4+8+6+10+12)/6 = 7

B. 42.86 standard deviation = sqrt([ (2-7)^2 + (4-7)^2 + (8-

7)^2 + (6-7)^2 + (10-7)^2 + (12-7)^2 ]/6) = 3.055
C. 40.86
CV = (3.055/7) x 100% =
D. 0.49
2. If the observations of a variable X are, -4, -20, -30, -44 and -36, then the value of the

range will be
A. -48

B. 40

C. -40
D. 48

3. What is the median of this set of numbers: 4, 6, 7, 9, 2000000?

A. 7.5

B. 6

C. 7

D. 4

4. Given below the four sets of observations. Which set has the minimum variation?

A. 46, 48, 50, 52, 54

B. 30, 40, 50, 60, 70

C. 40, 50, 60, 70, 80

D. 48, 49, 50, 51, 52

5. To interpret the relationship between two categorical variables, a contingency table should be
constructed with either column or row percentages, and
A. If the percentages are calculated down the columns, then comparisons should be made across
the rows
B. If the percentages are calculated across the rows, comparisons should be made down the

columns

C. Both a and b are correct

D. Neither a nor b is correct
6. Let's suppose we are predicting the score on a training posttest from a number of years of education
and the score on an aptitude test given before training. Here is the regression equation Y = 25 + 0.5X1
+10X2, where X1 = years of education and X2 = aptitude test score. What are the predicted score for 10
years of education and an aptitude test score of 5?

A. 25
X1 = 10 and X2 = 5 in the regression
B. 50 equation Y = 25 + 0.5X1 + 10X2. Thus, Y = 25
+ 0.5(10) + 10(5) = 80.
C. 35

D. 80

7. Nine hundred (900) high school freshmen were randomly selected for a national survey. Among survey
participants, the mean grade-point average (GPA) was 2.7, and the standard deviation was 0.4. What is
the margin of error, assuming a 95% confidence level

A. 0.013

B. 0.500 calculated as 1.96

C. 0.025 the margin of error is 1.96 x (0.4/sqrt(900))

= 0.025.
D. None of the above.

8. Parameters and statistics...

A. Are both used to make inferences about X

B. Describe the population and the sample, respectively.

C. Describe the sample and the population, respectively.

D. Describe the same group of individuals

9. Suppose that a population has a mean of 870 and a variance of 1,600. If a random sample of 25 is
drawn from the population, the probability that the sample mean is greater than 875 is
equal to 1600^(1/2)/5 = 20
A. 0.2676
The z-score sample mean of 875 can be
B. 0.8413
calculated as (875 - 870)/20 = 0.25.
C. 0.9544
a z-score greater than 0.25 is 0.4013.
D. 0.5899

10. Suppose we are interested in finding a 95% confidence interval for the mean SAT score of students at
a certain high school. Five students are sampled, and their SAT scores are 560, 500, 470, 660, and 640.
What is the 95% confidence interval for the population mean?
B. (469.9, 662.1)
 The t-value for a 95% confidence interval with a sample size of 5 and degrees of freedom
of 4 (n-1) is 2.776.

Margin of error = t-value x (sample standard deviation / sqrt(sample size))

A. (462.3, 669.7)
Margin of error = 2.776 x (85.87 / sqrt(5)) = 78.52
C. (486.3, 645.7)
D. (492.8, 639.2) Sample mean ± Margin of error = 566 ± 78.52

BUSINESS STATISTICS - 010

1-7. Nine hundred (900) high school freshmen were randomly selected for a national survey. Among
survey participants, the mean grade-point average (GPA) was 2.7, and the standard deviation was 0.4.
What is the margin of error, assuming a 95% confidence level?

A0.013
B. 0.500

C. 0.025
D. None of the above.

The employee is a cashier given that he is married

A. 4/11 B. 5/23

C. 8/23

D. 5/22

3. Find the probability that the employee is a manager or married

A. 27/45 B. 10/9

C. 3/5

D. 38/45

4. The employee is not married

A. 27/45

B. 10/9

C. 3/5
D. 22/45

5. Type 2 error occurs when?

A. We reject H0 if it is True

B. We reject HO if it is False
C. We accept H0 if it is True

D. We accept HO if it is False

6. The mean of 10 observations is 10. All observations are increased by 10 the increased observations
shall be %. The mean of
New Sum = Old Sum + (10 * 10) = 10 + 100 =
A. 20
B. 11 110

C. 10 New Mean = New Sum / Number of

Observations = 110 / 10 = 11
D. 100

7. Find the median of the following data: 160, 180, 200, 280, 300, 320, 400

A. 140 B. 300

C. 180

D. 280

8. The average monthly production of a factory for the first 8 months is 2,500 units, and for the next 4
months, the production was 1,200 units. The average monthly production of the year will be
A2066.55 units

B5031.10 units

C. 4021.12 units
D.3012.11 units

9. The random variable X represents he number of girls in a family of three children

Assuming that boys and girls are equally likely, find the mean and standard deviation for the random
variable X.
A. Mean: 1.50; standard deviation: 0.87

B. Mean: 1.50; standard deviation: 0.76

C. Mean:2.25; standard deviation: 0.87
D. Mean: 2.25; standard deviation: 0.76

10.Considering the sample statistic, if the mean of sampling distribution is equal to the population mean
then the sample statistic is classified as

A. hypothesis estimator
B. biased estimator

C. interval estimator
D. unbiased estimator