Question 1

Your company is doing market research to assess the feasibility of a new product.The market research team gathers pricing information of all the existing products that would compete with your company's product.The most expensive brand is priced at $22.95, and the least expensive one at $20.59.If a class width of 0.25 is used, then the number of classes will be

Accepted Answer

To calculate the number of classes, you subtract the lowest value from the highest value and then divide by the class width. Here, (22.95 - 20.59) / 0.25 = 9.44. Since you can't have a fraction of a class, you round up to the nearest whole number, which is 10.

Question 2

Given two class intervals and their respective frequencies and relative frequencies, the ratio of the frequencies _________ the ratio of the relative frequencies.

Accepted Answer

The ratio of the frequencies is the same as the ratio of the relative frequencies because relative frequency is calculated by dividing the frequency of a class interval by the total number of observations, which is a constant scaling factor for all class intervals.

Question 3

If both variables being analyzed are nominal data, the best method to reveal any potential connections between them would be with a __________.

Accepted Answer

Cross tabulation is the most appropriate method for analyzing the relationship between two nominal variables, as it allows for the visualization of the frequency distribution between categories of both variables.

Question 4

The following graphic of cigarettes smoked (sold)per capita (CIG)and deaths per 100K population from lung cancer (LUNG)indicates _________

Accepted Answer

The answer of The following graphic of cigarettes smoked (sold)per...

Question 5

Your company is doing market research to assess the feasibility of a new product.The market research team gathers pricing information of the 60 existing products in the market that would compete with your company's product.The most expensive brand is priced at $22.95, and the least expensive one at $20.59.If the relative frequency of the first class is 0.05 and the cumulative frequency for the second class is 10, then the relative frequency for the second class is

Accepted Answer

The cumulative frequency for the second class is 10, which means 10 out of 60 products fall into the first two classes. The relative frequency of the first class is 0.05, which corresponds to 3 products (0.05 * 60). Therefore, the relative frequency for the second class is (10 - 3) / 60 = 0.12.

Question 6

According to the following graphic, "Bent Pins" account for ____% of PCB Failures. Made chart below larger per suggestion

Accepted Answer

The answer of According to the following graphic, "Bent Pins"...

Question 7

The customer help center in your company receives calls from customers who need help with some of the customized software solutions your company provides.The staff prepare the following cumulative frequency ogive for waiting times during the last three months.What percentage of customers had waiting times exceeding 6 minutes?

Accepted Answer

The answer of The customer help center in your company...

Question 8

In a frequency distribution, the first class interval begins at 18.The midpoint of the first class interval is 19.5, and the last class interval ends at 51.How many class intervals are there?

Accepted Answer

The class width can be determined by doubling the difference between the midpoint and the beginning of the first class interval: 2 * (19.5 - 18) = 3. The range of the distribution is from 18 to 51, which is 33 units. Dividing this range by the class width (33 / 3) gives 11 class intervals.

Question 9

The following pie chart shows the market share of the only three brands in a market at the end of last year:  If by the end of the current year, brand C increases its market share to 51%, brand B maintains its market share, and total market sales increase by 15%, then this year's sales for brand A will be

Accepted Answer

The answer of The following pie chart shows the market...

Question 10

Your company is doing market research to assess the feasibility of a new product.The market research team gathers pricing information of all the existing products that would compete with your company's product.The most expensive brand is priced at $22.95, and the least expensive one at $20.59.If a class width of 0.25 is used, then the class mark of the first class interval will be

Accepted Answer

The first class interval starts at the minimum value, $20.59. With a class width of 0.25, the first class interval would be $20.59 to $20.84. The class mark (midpoint) of this interval is calculated as ($20.59 + $20.84) / 2 = $20.715, which rounds to $20.72, making option C correct.

Question 11

The following graphic of residential housing data (selling price and size in square feet)indicates _____________.

Accepted Answer

The answer of The following graphic of residential housing data...

Question 12

Scott Brim, Chief Financial Officer of Space Mall, Inc., wants to better understand the busiest business hours during the weekend.There are door sensors that approximate the number of people who enter the mall.The table below presents the average number of people coming in during the weekend, for the last month each hour: $$\begin{array} { r c } 
\text { Hour } & \text { Number of People } \
\text { 9-under 10 } & 350 \
\text { 10-under 11 } & 400 \
\text { 11-under 12 } & 300 \
\text { 12-under 1 } & 650 \
\text { 1-under 2 } & 550 \
\text { 2-under 3 } & 400 \
\text { 3-under 4 } & 350 \
\text { 4-under 5 } & 450 \
\text { 5-under 6 } & 250 \
\text { 6-under 7 } & 300 \
\text { 7-under 8 } & 200 \
\text { 8-under 9 } & 300
\end{array}$$
The relative frequency of the fourth class interval is _________.

Accepted Answer

The relative frequency of the fourth class interval (12-under 1) is calculated by dividing the number of people in that interval (650) by the total number of people. Summing the numbers gives a total of 4650. Thus, the relative frequency is $650 / 4650 = 0.14$.

Question 13

In a frequency distribution, the first class interval begins at 18.The midpoint of the first class interval is 19.5, and the midpoint of the last class interval is 49.5.How many class intervals are there?

Accepted Answer

The difference between the midpoint of the first class interval and its lower limit is 1.5 (19.5 - 18), which means the class width is 3 (since the midpoint is exactly in the middle of the class interval). The difference between the first and last midpoints is 49.5 - 19.5 = 30. Dividing this range by the class width (30 / 3) gives 10 intervals, but since we start counting from the first interval, we add 1 to get a total of 11 class intervals.

Question 14

The staff of Ms.Tamara Hill, VP of Technical Analysis at Blue Sky Brokerage, prepared a frequency histogram of market capitalization of the 937 corporations listed on the American Stock Exchange in January 2016.  Approximately ________% of corporations had capitalization not exceeding $200,000,000.

Accepted Answer

The answer of The staff of Ms.Tamara Hill, VP of...

Question 15

According to the following graphic, the most common cause of PCB Failures is a _____________.

Accepted Answer

The answer of According to the following graphic, the most...

Question 16

The following graphic of residential housing data (selling price and size in square feet)is a _____________.

Accepted Answer

The answer of The following graphic of residential housing data...

Question 17

Consider a scatterplot showing the relationship between years of formal education and life expectancy.Which of the following statements is false?

Accepted Answer

If more years of formal education are not correlated with higher life expectancy, then the scatterplot would exhibit a flat or negative slope.

Question 18

The class mark is the _________, and it is _________.

Accepted Answer

The class mark is the midpoint of each class interval, calculated as the arithmetic mean of the upper and lower boundaries of the class interval.

Question 19

A retail shoe company would like to consider key elements that might impact the sales related a specific store's location in the town.If placed on a scatter plot, which two variables would be helpful in helping management with this information?

Accepted Answer

The answer of A retail shoe company would like to...

Question 20

The following graphic of PCB Failures is a _____________.

Accepted Answer

The answer of The following graphic of PCB Failures is...

Quiz 2: Visualizing Data With Charts and Graphs

Given two class intervals and their respective frequencies and relative frequencies, the ratio of the frequencies _________ the ratio of the relative frequencies.

If both variables being analyzed are nominal data, the best method to reveal any potential connections between them would be with a __________.

The following graphic of cigarettes smoked (sold) per capita (CIG) and deaths per 100K population from lung cancer (LUNG) indicates _________

According to the following graphic, "Bent Pins" account for ____% of PCB Failures. Made chart below larger per suggestion

In a frequency distribution, the first class interval begins at 18.The midpoint of the first class interval is 19.5, and the last class interval ends at 51.How many class intervals are there?

The following graphic of residential housing data (selling price and size in square feet) indicates _____________.

In a frequency distribution, the first class interval begins at 18.The midpoint of the first class interval is 19.5, and the midpoint of the last class interval is 49.5.How many class intervals are there?

The staff of Ms.Tamara Hill, VP of Technical Analysis at Blue Sky Brokerage, prepared a frequency histogram of market capitalization of the 937 corporations listed on the American Stock Exchange in January 2016. Approximately ________% of corporations had capitalization not exceeding $200,000,000.

According to the following graphic, the most common cause of PCB Failures is a _____________.

The following graphic of residential housing data (selling price and size in square feet) is a _____________.

Consider a scatterplot showing the relationship between years of formal education and life expectancy.Which of the following statements is false?

The class mark is the _, and it is _.

A retail shoe company would like to consider key elements that might impact the sales related a specific store's location in the town.If placed on a scatter plot, which two variables would be helpful in helping management with this information?

The following graphic of PCB Failures is a _____________.