Question 1

In a bar graph presentation, the height or length of each bar represents a specific value.

Accepted Answer

In a bar graph, the height or length of each bar represents a specific value.

Question 2

When compared to a frequency distribution, a relative frequency distribution represents:

Accepted Answer

A relative frequency distribution represents the percent that each class interval is of the whole. It is calculated by dividing the frequency of each class interval by the total number of observations and then multiplying by 100 to convert it to a percentage.

Question 3

If no number appears more frequently in a series of numbers, there is no mode.

Accepted Answer

The mode is defined as the number that appears most frequently in a set of numbers. If no number appears more frequently than any other, then there is no mode. Therefore, the statement is true.

Question 4

An example of non-visual data presentation is the bar graph.

Accepted Answer

A bar graph is a visual data presentation that uses bars to represent different categories of data.

Question 5

The sum of the values of a set divided by the number of members in that set is the:

Accepted Answer

The formula for mean is the sum of all values in the set divided by the number of members in the set. Therefore, the sum of the values of a set divided by the number of members in that set is the mean.

Question 6

To find the mean, total the values in a group and multiply the sum by the number of values added.

Accepted Answer

To find the mean, total the values in a group and divide the sum by the number of values added.

Question 7

If you were considering purchasing an average-priced home in a new community with home values ranging from $100,000 - $1,000,000, which of the following would give the most realistic picture of how much that home is likely to cost?

Accepted Answer

The median and mode are the best choices because they give a measure of central tendency that is not influenced by extreme values or outliers. The mean could be skewed by a few very high-priced homes, and class intervals and grouped data do not provide as much specific information about individual home prices.

Question 8

Frequency of occurrence is a factor when calculating the weighted average mean.

Accepted Answer

Frequency of occurrence is a crucial factor in calculating the weighted average mean, as it determines how much weight each data point carries in the overall calculation. Without taking frequency into account, the weighted average mean may not accurately reflect the data set.

Question 9

A graph shows one or more lists of numerical information grouped in some meaningful form.

Accepted Answer

The answer of A graph shows one or more lists...

Question 10

Adding the values in a set of numbers and then dividing the sum by the number of members in the set results in the:

Accepted Answer

This is because the formula for the mean is to add up all the values in the set and then divide by the total number of values, which is what is described in the prompt. The other options (mode, median, range) do not involve adding up and dividing by the number of values.

Question 11

Graphs can be used to illustrate changes or trends in business.

Accepted Answer

Graphs are a common way to visually represent data and can be useful in highlighting changes or trends in business over time.

Question 12

The mode is the middle value in a series of numbers.

Accepted Answer

The mode is the value that appears most frequently in a series of numbers, not necessarily the middle value.

Question 13

The median will distort the average of a set of numbers that has one or more extreme values.

Accepted Answer

The median is not affected by extreme values as it is the middle value in a data set, whereas the mean (average) can be distorted by extreme values.

Question 14

The mode is the total of a set of values divided by the number of values in the set.

Accepted Answer

This definition is actually for the mean, not the mode. The mode is the value that appears most frequently in a set of data.

Question 15

The mean of grouped data is:

Accepted Answer

The mean of grouped data is a reasonable approximation and is found by computing the weighted average of the midpoints of the intervals, where the weights are the frequencies of the intervals. The answer is not A, as the mean may not always be exactly equal to the midpoint of the interval. The answer is not B or C, as the sum of frequencies or products of intervals do not give the mean of the data.

Question 16

A table is a symbolic or pictorial display of numerical information.

Accepted Answer

A table is a systematic arrangement of data, usually in rows and columns, which can include both numerical and non-numerical information.

Question 17

In a set with an even number of values, the median is the mean of the middle two numbers.

Accepted Answer

In a set with an even number of values, there are two middle numbers. The median is the value that is exactly in the middle when the values are arranged in order. Therefore, to find the median of a set with an even number of values, you take the mean (average) of the two middle numbers.

Question 18

The median is a better indicator of the average than the mean.

Accepted Answer

The median and mean serve different purposes; neither is universally better. The median is less affected by outliers and skewed data, making it a better indicator in those cases, while the mean is a better measure when data is symmetrically distributed.

Question 19

If no value occurs most frequently in a group, then the mode is considered to be the middle number.

Accepted Answer

If no value occurs most frequently in a group, then there is no mode. The statement "the mode is considered to be the middle number" is incorrect.

Question 20

When describing employee performance, a human resource professional would say it follows a normal distribution if the graph of the data set:

Accepted Answer

A normal distribution is symmetrical, meaning when folded at the highest point, the two halves match.

Quiz 7: Business Statistics