Question 1

The following frequency distribution was constructed for the age of accounts receivable:  The frequency distribution reveals that the accounts receivable ages are ___.

Accepted Answer

The distribution is not symmetrical and the majority of the values are concentrated on the right side, indicating a longer time since the accounts were created. This suggests that there are fewer current or recently created accounts and more overdue accounts, resulting in a left-skewed distribution.

Question 2

The following box and whisker plot was constructed for the age of accounts receivable:  The box and whisker plot reveals that the accounts receivable ages are ___.

Accepted Answer

The answer of The following box and whisker plot was...

Question 3

Excel's most powerful statistical tools are found in the ___ ToolPak.

Accepted Answer

The Data Analysis ToolPak contains various statistical tools such as regression analysis, t-tests, ANOVA, and more. This tool is specifically designed to provide statistical analysis in Excel. The other options may contain some statistical tools, but they are not as comprehensive as the Data Analysis ToolPak.

Question 4

Shaun Connor, Human Resources Manager for Oil Terminals (OT), is reviewing the operator training hours at OT nationally. His staff compiled the following table of national statistics on operators training hours.  What can Shaun conclude from these statistics?

Accepted Answer

The answer of Shaun Connor, Human Resources Manager for Oil...

Question 5

The number of speeding tickets given by a sample of 14 police officers in a month are as follows: 63, 35, 67, 63, 55, 75, 84, 13, 67, 54, 59, 49, 58, and 67. Compute the range, interquartile range and the standard deviation.

Accepted Answer

The answer of The number of speeding tickets given by...

Question 6

The following box and whisker plot was constructed for the age of accounts receivable:  The box and whisker plot reveals that the accounts receivable ages are ___.

Accepted Answer

The box and whisker plot shows that the median is closer to the lower quartile, while the upper whisker is much longer than the lower whisker. This suggests that there are some accounts receivable with very high ages, causing the distribution to be skewed to the right.

Question 7

When you use Excel's most powerful statistical tools, the results

Accepted Answer

The answer of When you use Excel's most powerful statistical...

Question 8

The A-Life and Kafi companies have 40 and 65 employees respectively. Their average weekly wages are $450 and $350. The standard deviations are 7 and 9 respectively. Which company has a larger variability in wages?

Accepted Answer

The answer of The A-Life and Kafi companies have 40...

Question 9

In a hearing test, subjects estimated the loudness of a sound in decibels. The results are: 71, 68, 75, 68, 62, 80, 73, 68, 68, 67, 70. Compute the mean, median and mode.

Accepted Answer

The answer of In a hearing test, subjects estimated the...

Question 10

The number of speeding tickets given by a sample of 14 police officers in a month are as follows: 63, 35, 67, 63, 55, 75, 84, 13, 67, 54, 59, 49, 58, and 67. Compute the 5 Number Summary for the sample. (Note: The 5 Number Summary are the minimum, Q1, Q2, Q3 and the maximum).

Accepted Answer

The answer of The number of speeding tickets given by...

Question 11

Data values outside the fences in a distribution using a box and whisker plot are ___.

Accepted Answer

The values outside the fences in a box and whisker plot are called outliers. These are data points that are significantly higher or lower than the rest of the data and can skew the overall analysis.

Question 12

The following frequency distribution was constructed for the age of accounts receivable:  The frequency distribution reveals that the accounts receivable ages are ___.

Accepted Answer

The frequency distribution is skewed to the right as the tail of the data is more spread out towards the higher values.

Question 13

Karen Merlott, VP for Strategic Planning at a recruitment firm, recently conducts a survey to determine customer satisfaction with job placement. She distributed the survey to 45 of the most recently placed executives. Two items on a survey questionnaire them to rate the importance of "initial interview process" and "satisfaction of final job placement" on a scale of 1 to 10 (with 1 meaning "$\textbf{      not   }$  important" and 10 meaning "highly important"). Her staff assembled the following statistics on these two items.  What can Karen conclude from these statistics?

Accepted Answer

The answer of Karen Merlott, VP for Strategic Planning at...

Quiz 3: Descriptive Statistics

The following frequency distribution was constructed for the age of accounts receivable: The frequency distribution reveals that the accounts receivable ages are ___.

The following box and whisker plot was constructed for the age of accounts receivable: The box and whisker plot reveals that the accounts receivable ages are ___.