Question 1

A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company.From survey data gathered two years ago,the researchers found the following table.Calculate the average age to give to the CEO.

Accepted Answer

The answer of A company CEO asked the marketing research...

Question 2

Find the weighted mean per capita income for the following random sample of six cities in the Midwest.

Accepted Answer

The answer of Find the weighted mean per capita income...

Question 3

Following a factor analysis of 15 personality characteristic ratings of politicians by a random sample of 40,000 registered voters,the following table of the first 7 factors and their corresponding eigenvalues and percentage of explained variation was produced.Which factors should an analyst choose when defining the characteristics of politicians?

Accepted Answer

The answer of Following a factor analysis of 15 personality...

Question 4

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent.Annual sales in 2005 were $14.2 million.Find the ending value of sales after this four-year period.

Accepted Answer

The answer of The geometric mean growth rate of sales...

Question 5

At the end of 2007,the IRA owned by Joe Smith had a value of $1.2 million.With a rate of return of −29.75 percent in 2008 and a rate of return of 2.98 percent in 2009,calculate the geometric mean rate of return for the two-year period.

Accepted Answer

The answer of At the end of 2007,the IRA owned...

Question 6

A manufacturer of Product X has developed a model for predicting monthly sales of their product based on the sales from the same month of the previous year and the forecasted average daily temperature for the month.Using the regression tree below based on a random sample of 30 observations,predict sales for a future where the previous year's monthly sales were $15 million dollars and the forecasted average daily temperature for the month will be 45 degrees.

Accepted Answer

The answer of A manufacturer of Product X has developed...

Question 7

An interval that contains a specified percentage of the individual measurements is called a(n)_______________ interval.
A) three-sigma
B) tolerance
C) normal
D) empirical

Accepted Answer

It can be used with the normally distributed population.

Question 8

An initial investment of $10,000 has a value of $7,382 at the end of year 1.What is the rate of return for the first year?

Accepted Answer

The answer of An initial investment of $10,000 has a...

Question 9

Suppose that annual sales for a company were $3.6 million at the beginning of a three-year period and at the end had increased to $6.1 million.Find the geometric growth rate of sales.

Accepted Answer

The answer of Suppose that annual sales for a company...

Question 10

An initial investment of $10,000 is observed over 3 years with a geometric mean return at the end of year 3 of 0.512.Determine the value of the investment after 3 years.

Accepted Answer

The answer of An initial investment of $10,000 is observed...

Question 11

A local grocery market is studying whether to offer a loyalty program to its customers.In its final analyses the following groups are being used to categorize loyalty card customers: family income and number of children.Using the classification tree below,estimate the percentage of customers with an income of $50,000 with 2 children who would use a loyalty card

Accepted Answer

The answer of A local grocery market is studying whether...

Question 12

The point estimate of the _______________ is the positive square root of the sample variance.
A) sample mean
B) sample standard deviation
C) range
D) median
E) population standard deviation

Accepted Answer

The positive square root of the sample variance is the sample standard deviation, which is a measure of the spread of the data around the mean. Therefore, choice B is the correct answer. The other options are not related to the sample variance or its square root.

Question 13

Which of the following is a measure of the strength of the linear relationship between x and y that is dependent on the units in which x and y are measured.
A) covariance
B) correlation coefficient
C) slope
D) least squares line

Accepted Answer

This tells you how close the relationship is to a straight line between x and y.

Question 14

The ______________ is a quantity that measures the variation of a population or sample relative to its mean.
A) mean
B) standard deviation
C) range
D) coefficient of variation
E) Z-score

Accepted Answer

It is found by dividing the standard deviation by the mean and multiplying by 100.

Question 15

A manufacturer of Product X has developed a model for predicting monthly sales of their product based on the sales from the same month of the previous year and the forecasted average daily temperature for the month.Using the regression tree below based on a random sample of 30 observations predict sales for a future where the previous year's monthly sales were $21.2 million dollars and the forecasted average daily temperature for the month will be 45 degrees.

Accepted Answer

The answer of A manufacturer of Product X has developed...

Question 16

As the coefficient of variation _______________,risk ______________.
A) increases,decreases
B) decreases,increases
C) increases,increases
D) remains constant,increases

Accepted Answer

The coefficient of variation (CV) measures the relative variability or dispersion of a distribution. A higher CV indicates greater variability, which in turn increases risk. Therefore, as the coefficient of variation increases, risk also increases.

Question 17

The rate of return for each of the past four years on a market fund are R₁ = 2.4%,R₂ = 1.0%,R₃ = −3.2%,and R₄ = 0.5%.Find the geometric mean rate of return.

Accepted Answer

The answer of The rate of return for each of...

Quiz 3: Descriptive Statistics: Numerical Methods

A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company.From survey data gathered two years ago,the researchers found the following table.Calculate the average age to give to the CEO.

Find the weighted mean per capita income for the following random sample of six cities in the Midwest.

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent.Annual sales in 2005 were $14.2 million.Find the ending value of sales after this four-year period.

At the end of 2007,the IRA owned by Joe Smith had a value of $1.2 million.With a rate of return of −29.75 percent in 2008 and a rate of return of 2.98 percent in 2009,calculate the geometric mean rate of return for the two-year period.

An interval that contains a specified percentage of the individual measurements is called a(n) _______________ interval.

An initial investment of $10,000 has a value of $7,382 at the end of year 1.What is the rate of return for the first year?

Suppose that annual sales for a company were $3.6 million at the beginning of a three-year period and at the end had increased to $6.1 million.Find the geometric growth rate of sales.

An initial investment of $10,000 is observed over 3 years with a geometric mean return at the end of year 3 of 0.512.Determine the value of the investment after 3 years.

The point estimate of the _______________ is the positive square root of the sample variance.

Which of the following is a measure of the strength of the linear relationship between x and y that is dependent on the units in which x and y are measured.

The ______________ is a quantity that measures the variation of a population or sample relative to its mean.

As the coefficient of variation _,risk .

The rate of return for each of the past four years on a market fund are R₁ = 2.4%,R₂ = 1.0%,R₃ = −3.2%,and R₄ = 0.5%.Find the geometric mean rate of return.

Quiz 3: Descriptive Statistics: Numerical Methods

A company CEO asked the marketing research department to find the average age of consumers who bought the most profitable product made by the company.From survey data gathered two years ago,the researchers found the following table.Calculate the average age to give to the CEO.

Find the weighted mean per capita income for the following random sample of six cities in the Midwest.

The geometric mean growth rate of sales for used cars in a geographic area from 2005 to 2009 was 16.42 percent.Annual sales in 2005 were $14.2 million.Find the ending value of sales after this four-year period.

At the end of 2007,the IRA owned by Joe Smith had a value of $1.2 million.With a rate of return of −29.75 percent in 2008 and a rate of return of 2.98 percent in 2009,calculate the geometric mean rate of return for the two-year period.

An interval that contains a specified percentage of the individual measurements is called a(n) _______________ interval.

An initial investment of $10,000 has a value of $7,382 at the end of year 1.What is the rate of return for the first year?

Suppose that annual sales for a company were $3.6 million at the beginning of a three-year period and at the end had increased to $6.1 million.Find the geometric growth rate of sales.

An initial investment of $10,000 is observed over 3 years with a geometric mean return at the end of year 3 of 0.512.Determine the value of the investment after 3 years.

The point estimate of the _______________ is the positive square root of the sample variance.

Which of the following is a measure of the strength of the linear relationship between x and y that is dependent on the units in which x and y are measured.

The ______________ is a quantity that measures the variation of a population or sample relative to its mean.

As the coefficient of variation _______________,risk ______________.

The rate of return for each of the past four years on a market fund are R1 = 2.4%,R2 = 1.0%,R3 = −3.2%,and R4 = 0.5%.Find the geometric mean rate of return.

As the coefficient of variation _,risk .

The rate of return for each of the past four years on a market fund are R₁ = 2.4%,R₂ = 1.0%,R₃ = −3.2%,and R₄ = 0.5%.Find the geometric mean rate of return.