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Statistics for Business and Economics Study Set 5
Quiz 3: Describing Data: Numerical Measures
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Question 61
Multiple Choice
What is the relationship among the mean, median and mode in a symmetric distribution?
Question 62
Multiple Choice
A purchasing agent for a trucking company is shopping for replacement tires for their trucks from Two suppliers. The suppliers' prices are the same. However, Supplier A's tires have an average life of 100,000 kms with a standard deviation of 10,000 kms. Supplier B's tires have an average life of 100,000 kms with a standard deviation of 2,000 kms. Which of the following statements is true?
Question 63
Multiple Choice
i. In a negatively skewed distribution, the mean is always greater than the median. ii. In a negatively skewed distribution, the median occurs at the peak of the curve. iii. In a positively skewed distribution, the mode is greater than the median.
Question 64
Multiple Choice
What is the relationship between the variance and the standard deviation?
Question 65
Multiple Choice
i. The sum of the deviations from the mean for the set of numbers 4, 9 and 5 will equal zero. ii. If there is an even number of ungrouped values, the median is found by arranging them from low To high and then determining the arithmetic mean of the two middle values. iii. For salaries of $102,000, $98,000, $35,000, $106,000 and $101,000, the arithmetic mean would Be an appropriate average.
Question 66
Multiple Choice
i. In a positively skewed distribution, the mean is always greater than the median. ii. In a negatively skewed distribution, the median occurs at the peak of the curve. iii. In a negatively skewed distribution, the mode is greater than the median.
Question 67
Multiple Choice
Which of the following measures of dispersion are based on deviations from the mean?
Question 68
Multiple Choice
The following printout is a summary of housing prices in Edmonton:
What can we determine from this printout?
Question 69
Multiple Choice
i. In a positively skewed distribution, the mean is always greater than the median. ii. In a negatively skewed distribution, the mode occurs at the peak of the curve. iii. In a negatively skewed distribution, the mode is greater than the median.
Question 70
Multiple Choice
The following printout is a summary of number of bedrooms in homes for sale in Regina:
What can we determine from this printout?
Question 71
Multiple Choice
Based on the graph below, how can we best describe the shape of this distribution?
Question 72
Multiple Choice
i. The mode is the value of the observation that appears most frequently. ii. A distribution that has the same shape on either side of the center is said to be symmetrical. iii. Negatively skewed indicates that a distribution is not symmetrical. The long tail is to the left or in The negative direction.
Question 73
Multiple Choice
If a major sports star were to move into your neighbourhood, what would you expect to happen to The neighbourhood's "average" income?
Question 74
Multiple Choice
What is the range for this sample of March electric bills amounts for all-electric homes of similar Sizes (to the nearest dollar) : $212, $191, $176, $129, $106, $92, $108, $109, $103, $121, $175 and $194.