Question 1

A full service brokerage firm gathered information on how their clients were investing
for retirement.Based on age, clients were categorized according to where the largest
percentage of their retirement portfolio was invested.The table below summarized the
data. 
-Find each of the following percentages.
a.What percent of the clients are over age 50 who invests in mutual funds?
b.What percent of clients over age 50 invest in mutual funds?
c.What percent of the mutual fund investors are over age 50?

Accepted Answer

a.18.1% (34/188)
b.33.3% (34/102)
c.53.1% (34/64)

Question 2

A full service brokerage firm gathered information on how their clients were investing for retirement.Based on age, clients were categorized according to where the largest
Percentage of their retirement portfolio was invested and shown in the table below.  4-14 Chapter 4 Displaying and Describing Categorical Data
Of the clients over age 50, the percentage who invest in mutual funds is
A)3.1% (34/64).
B)33.3% (34/102).
C)18.1% (34/188).
D)34% (64/188).
E)54.3% (102/188).

Accepted Answer

B

Question 3

Prepare an appropriate chart to display the marginal distribution of age.

Accepted Answer

Either a bar chart (shown below) or a pie chart is appropriate.

Question 4

A automobile marketing firm conducts a study to see what types of cars people owned before buying an American car.The results are shown below.  The relative frequency of those who owned Japanese cars previously who now bought
American cars is
A)59.9 %
B)29.6%
C)5.7%
D)14.9%
E)2.9%

Accepted Answer

The relative frequency can be calculated by dividing the number of people who owned Japanese cars previously and now bought American cars by the total number of people who owned Japanese cars previously. This gives a relative frequency of 29.6% (151/510).

Question 5

Prepare an appropriate chart to display the marginal distribution of brands.

Accepted Answer

The answer of Prepare an appropriate chart to display the...

Question 6

A full service brokerage firm gathered information on how their clients were investing for retirement.Based on age, clients were categorized according to where the largest
Percentage of their retirement portfolio was invested and shown in the table below.  The percentage of clients who are over age 50 and invest in mutual funds is
A)3.1% (34/64).
B)33.3% (34/102).
C)18.1% (34/188).
D)34% (64/188).
E)54.3% (102/188).

Accepted Answer

The answer of A full service brokerage firm gathered information...

Question 7

A full service brokerage firm gathered information on how their clients were investing
for retirement.Based on age, clients were categorized according to where the largest
percentage of their retirement portfolio was invested.The table below summarized the
data. 
-Identify the variables and tell whether each is categorical or quantitative.

Accepted Answer

The answer of A full service brokerage firm gathered information...

Question 8

A large national retailer of electronics conducted a survey to determine consumer preferences for various brands of digital cameras and the data are summarized in the table
Shown below.Of the consumers who prefer Pentax, what percentage is male? 
A)44.1 % (275/623).
B)6.6% (41/623).
C)52.6% (41/78).
D)14.9% (41/275).
E)12.5% (78/623).

Accepted Answer

To determine the percentage of Pentax consumers who are male, we need to find the number of male Pentax consumers divided by the total number of Pentax consumers. From the table, we see that there are 78 Pentax consumers, and of those, 41 are male. Therefore, the percentage of Pentax consumers who are male is (41/78) x 100% = 52.6%. Choice C is the best answer.

Question 9

A large national retailer of electronics conducted a survey to determine consumer preferences for various brands of digital cameras and the data are summarized in the table
Shown below.  The percentage of consumers who are male and prefer Pentax is
A)44.1 % (275/623).
B)6.6% (41/623).
C)52.6% (41/78).
D)14.9% (41/275).
E)12.5% (78/623).

Accepted Answer

To find the percentage of consumers who are male and prefer Pentax, we need to look at the intersection of the "Male" column and the "Pentax" row, which is 41. Then we divide by the total number of survey respondents, which is 623, and multiply by 100 to get the percentage:
(41/623) x 100 ≈ 6.6%
Therefore, the answer is B, 6.6%.

Question 10

What is the marginal distribution of brands?

Accepted Answer

The answer of What is the marginal distribution of brands?...

Question 11

The following is a bar chart summarizing consumer preferences for various brands of digital cameras. 
A)the marginal distribution of brands.
B)the conditional distribution of brands.
C)the contingency distribution of brands.
D)the distribution for a quantitative variable.
E)none of the above.

Accepted Answer

The bar chart simply shows the frequency of each brand of digital camera without considering any other variable. This type of distribution is called the marginal distribution, which displays the counts or percentages of a single variable.

Question 12

Write a sentence or two about the conditional relative frequency distribution of mode
of investment for clients age 50 or younger.

Accepted Answer

The answer of Write a sentence or two about the...

Question 13

Find each of the following percentages.
a.What percent of the responses were males who prefer Pentax?
b.What percent of the male responses prefer Pentax?
c.What percent of the consumers who choose Pentax were males?

Accepted Answer

The answer of Find each of the following percentages.
a.What percent...

Question 14

Write a sentence or two about the conditional relative frequency distribution of the
brands among female respondents.

Accepted Answer

The answer of Write a sentence or two about the...

Question 15

Identify the variables and tell whether each is categorical or quantitative.

Accepted Answer

The answer of Identify the variables and tell whether each...

Question 16

A full service brokerage firm gathered information on how their clients were investing
for retirement.Based on age, clients were categorized according to where the largest
percentage of their retirement portfolio was invested.The table below summarized the
data. 
-What is the marginal distribution of age?

Accepted Answer

The answer of A full service brokerage firm gathered information...

Question 17

A large national retailer of electronics conducted a survey to determine consumer preferences for various brands of digital cameras and the data are summarized in the table
Shown below.  Of the consumers who are male, the percentage who prefer Pentax is
A)44.1 % (275/623).
B)6.6% (41/623).
C)52.6% (41/78).
D)14.9% (41/275).
E)12.5% (78/623).

Accepted Answer

The answer of A large national retailer of electronics conducted...

Question 18

Based on the side-by-side bar chart summarizing consumer preferences for various brands of digital cameras by gender, which of the following statements is (are) true? 
A)It appears that camera preference and gender are not related.
B)It appears that camera preference and gender are not independent.
C)It appears that camera preference and gender are independent.
D)More males than females prefer Cannon.
E)More females than males prefer Pentax.

Accepted Answer

The side-by-side bar chart shows that there are differences between camera preferences among males and females. For example, more males prefer Canon while more females prefer Pentax. Therefore, camera preference and gender are not independent.

Question 19

Consider the following side by side bar chart for the data above:  Does the chart indicate that brand preference is independent of gender? Explain.

Accepted Answer

The answer of Consider the following side by side bar...

Question 20

Consider the following side by side bar chart for the data above:  Does the chart indicate that mode of investment is independent of age? Explain.

Accepted Answer

The answer of Consider the following side by side bar...

Quiz 4: Displaying and Describing Categorical Data

Prepare an appropriate chart to display the marginal distribution of age.

A automobile marketing firm conducts a study to see what types of cars people owned before buying an American car.The results are shown below. The relative frequency of those who owned Japanese cars previously who now bought American cars is

Prepare an appropriate chart to display the marginal distribution of brands.

A large national retailer of electronics conducted a survey to determine consumer preferences for various brands of digital cameras and the data are summarized in the table Shown below.Of the consumers who prefer Pentax, what percentage is male?

A large national retailer of electronics conducted a survey to determine consumer preferences for various brands of digital cameras and the data are summarized in the table Shown below. The percentage of consumers who are male and prefer Pentax is

What is the marginal distribution of brands?

The following is a bar chart summarizing consumer preferences for various brands of digital cameras.

Write a sentence or two about the conditional relative frequency distribution of mode of investment for clients age 50 or younger.

Find each of the following percentages. a.What percent of the responses were males who prefer Pentax? b.What percent of the male responses prefer Pentax? c.What percent of the consumers who choose Pentax were males?

Write a sentence or two about the conditional relative frequency distribution of the brands among female respondents.

Identify the variables and tell whether each is categorical or quantitative.

A large national retailer of electronics conducted a survey to determine consumer preferences for various brands of digital cameras and the data are summarized in the table Shown below. Of the consumers who are male, the percentage who prefer Pentax is

Based on the side-by-side bar chart summarizing consumer preferences for various brands of digital cameras by gender, which of the following statements is (are) true?

Consider the following side by side bar chart for the data above: Does the chart indicate that brand preference is independent of gender? Explain.

Consider the following side by side bar chart for the data above: Does the chart indicate that mode of investment is independent of age? Explain.