Question 1

Which is incorrect?
A)The mode is a measurement that records value
B)A bar graph is the same as a line graph
C)A mean may cause distortions
D)A circle graph is based on 360°
E)None of these

Accepted Answer

A bar graph is not the same as a line graph. A bar graph uses bars to represent data, while a line graph uses lines to represent data.

Question 2

Find the mean (do not round): 38 + 18.05 + 25 + 26 + 46
A)21.4
B)23
C)22.
D)30.61
E)None of these

Accepted Answer

To find the mean, we need to add up all the numbers and then divide by the total number of numbers.

38 + 18.05 + 25 + 26 + 46 = 153.05

There are 5 numbers, so we divide by 5:

153.05 ÷ 5 = 30.61

Therefore, the mean is 30.61.

The best choice is D, which is 30.61.

Question 3

To avoid distortion of extreme values, a good indicator would be the:
A)Mean
B)Median
C)Weighted-mean
D)Mode
E)None of these

Accepted Answer

The median is not influenced by extreme values, as it is the middle value when data is ordered. Therefore, it is the best choice to avoid distortion of extreme values.

Question 4

Calculate the weighted mean from the following sales: $400, $700, $300, $600, $300, $400, $700
A)$700
B)$300
C)$400
D)$500
E)None of these

Accepted Answer

The answer of Calculate the weighted mean from the following...

Question 5

The range of 35, 22, 43, 18, 22, 27, 48, 39, 31, and 16 is:
A)32
B)30
C)29
D)22

Accepted Answer

The range is the difference between the highest and lowest values in a set. Here, the highest value is 48 and the lowest is 16, so the range is 48 - 16 = 32.

Question 6

From the following numbers, the median is: 16, 9, 10, 5, 4
A)9
B)4
C)5
D)10

Accepted Answer

Median is the middle value of a given set of numbers. In this case, the numbers can be arranged as 4, 5, 9, 10, 16. The middle value is 9, which is the median.

Question 7

Calculate the mode from the following: 71, 3, 13, 33, 3, 71, 14, 33, 13, 33
A)3
B)13
C)33
D)71
E)None of these

Accepted Answer

The mode is the value that appears most frequently in the set of data. In this case, the value 33 appears three times, which is more than any other value. Therefore, the mode is 33.

Question 8

The range of 105, 100, 79, 86, 101, 94, 98, 87, and 83 is:
A)26
B)92
C)96
D)94

Accepted Answer

The range of a set of numbers is the difference between the largest and smallest numbers. Here, the largest number is 105 and the smallest is 79. So, the range is 105 - 79 = 26.

Question 9

Find the mode: 6, 6, 8, 9, 3, 9, 6, 3
A)4
B)3
C)9
D)6
E)None of these

Accepted Answer

The mode is the most frequently occurring number in the data set. In this case, 6 is the most frequently occurring number, appearing three times, while each of the other numbers appear only twice or once. Therefore, the mode of this data set is 6.

Question 10

Assume the mean useful life of a particular lightbulb is 2,000 hours and is normally distributed with a standard deviation of 300 hours. Calculate the useful life of lightbulbs within two standard deviations of the mean.
A)Between 1,700 and 2,300 hours
B)Longer than 2,300 hours
C)Longer than 1,700 hours
D)Between 1,400 and 2,600 hours

Accepted Answer

The answer of Assume the mean useful life of a...

Question 11

What is the weighted mean frequency for the following car sales? 2 sold at $25,090, 3 sold at $20,000, 1 sold at $21,475, and 1 sold at $39,638)
A)$24,740
B)$24,000
C)$21,241
D)$24,470
E)None of these

Accepted Answer

The answer of What is the weighted mean frequency for...

Question 12

Phil's Barbeque sold the following dinners in one hour:  What was the average dollar mean?
A)$10.70
B)12.97
C)$6.35
D)$10.00

Accepted Answer

The answer of Phil's Barbeque sold the following dinners in...

Question 13

The range of 55, 93, 48, 53, 55, 93, 63, 80, 75, and 55 is:
A)45
B)67
C)59
D)55

Accepted Answer

The range of a set of numbers is the difference between the largest and smallest numbers. In this set, the largest number is 93 and the smallest is 48. Therefore, the range is 93 - 48 = 45.

Question 14

Alvin's Bakery produced the following number of oat bran muffins each week:  In a frequency distribution, which would have the lowest tally?
A)600
B)700
C)500
D)650
E)None of these

Accepted Answer

The answer of Alvin's Bakery produced the following number of...

Question 15

Hector Rameriz received three A's and one B in his college courses. What is his grade point average? Assume each course is three credits. A = 4, B = 3, C = 2, D = 1.
A)3.0
B)3.25
C)3.75
D)3.80
E)None of these

Accepted Answer

To calculate the GPA, multiply the grade points by the credits for each course, sum them, and divide by the total credits. (3 A's * 4 points * 3 credits) + (1 B * 3 points * 3 credits) = 45 total points. Divide by 12 total credits: 45/12 = 3.75.

Question 16

The mean of the following is: 14, 8, 3, 8, 5
A)7.2
B)7.1
C)7.4
D)7.5
E)None of these

Accepted Answer

The answer of The mean of the following is: 14,...

Question 17

Find the median from the following numbers: 15, 8, 7, 5, 4, 1, 9, 16
A)7.5
B)7.0
C)8.0
D)8.5
E)None of these

Accepted Answer

The answer of Find the median from the following numbers:...

Question 18

Professor Bowdidge taught four business statistics classes during the fall semester with the following grade averages for each class. Calculate the mean (round to the nearest hundredth): 82%, 86%, 91%, and 74%
A)83.25%
B)83.12%
C)83.00%
D)85.00%

Accepted Answer

The mean is calculated by adding all the class averages and dividing by the number of classes: (82 + 86 + 91 + 74) / 4 = 333 / 4 = 83.25%.

Question 19

What is the range of 22, 22, 27, 29, 30, 34, and 38?
A)22
B)29
C)16
D)27

Accepted Answer

The answer of What is the range of 22, 22,...

Question 20

Today the price of a Jeep is $25,000. In 1970 the price was $5,000. What is the price relative?
A)600
B)166
C)300
D)400
E)None of these

Accepted Answer

The price relative is calculated by dividing the current price by the price at a base period (in this case, 1970). So, $25,000 / $5,000 = 5. This means the price now is 5 times what it was in 1970, not matching any of the provided options.

Quiz 22: Business Statistics

Which is incorrect?

Find the mean (do not round) : 38 + 18.05 + 25 + 26 + 46

To avoid distortion of extreme values, a good indicator would be the:

Calculate the weighted mean from the following sales: $400, $700, $300, $600, $300, $400, $700

The range of 35, 22, 43, 18, 22, 27, 48, 39, 31, and 16 is:

From the following numbers, the median is: 16, 9, 10, 5, 4

Calculate the mode from the following: 71, 3, 13, 33, 3, 71, 14, 33, 13, 33

The range of 105, 100, 79, 86, 101, 94, 98, 87, and 83 is:

Find the mode: 6, 6, 8, 9, 3, 9, 6, 3

Assume the mean useful life of a particular lightbulb is 2,000 hours and is normally distributed with a standard deviation of 300 hours. Calculate the useful life of lightbulbs within two standard deviations of the mean.

What is the weighted mean frequency for the following car sales? 2 sold at $25,090, 3 sold at $20,000, 1 sold at $21,475, and 1 sold at $39,638)

Phil's Barbeque sold the following dinners in one hour: What was the average dollar mean?

The range of 55, 93, 48, 53, 55, 93, 63, 80, 75, and 55 is:

Alvin's Bakery produced the following number of oat bran muffins each week: In a frequency distribution, which would have the lowest tally?

Hector Rameriz received three A's and one B in his college courses. What is his grade point average? Assume each course is three credits. A = 4, B = 3, C = 2, D = 1.

The mean of the following is: 14, 8, 3, 8, 5

Find the median from the following numbers: 15, 8, 7, 5, 4, 1, 9, 16

Professor Bowdidge taught four business statistics classes during the fall semester with the following grade averages for each class. Calculate the mean (round to the nearest hundredth) : 82%, 86%, 91%, and 74%

What is the range of 22, 22, 27, 29, 30, 34, and 38?

Today the price of a Jeep is $25,000. In 1970 the price was $5,000. What is the price relative?