Chapter 03 - Descriptive Statistics: Numerical Measures

?1.?The interquartile range is the difference between the _____.?a.?first and second quartiles?b.?first and third quartiles?c.?second and third quartiles?d.?second and fourth quartilesANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge2.?The variance is equal to the _____.?a.?absolute value of the standard deviation?b.?squared value of the standard deviation?c.?square root of the standard deviation?d.?inverse value of the standard deviationANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge3.?Generally, which of the following is the least appropriate measure of central tendency for a data set that contains outliers??a.?mean?b.?median?c.?mode?d.?midrangeANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension4.?An important measure of location for categorical data is the _____.?a.?mean?b.?median?c.?mode?d.?marginANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge5.?The measure of variability easiest to compute, but seldom used as the only measure, is the _____.?a.?range?b.?interquartile range?c.?standard deviation?d.?varianceANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge6.?In computing descriptive statistics for grouped data, the _____ are used to approximate the data values in each class.?a.?class lower limits?b.?class upper limits?c.?class midpoints?d.?class rangesANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge7.?Which of the following is NOT a measure of variability of a single variable??a.?range?b.?covariance?c.?standard deviation?d.?coefficient of variationANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge8.?The empirical rule states that, for data having a bell-shaped distribution, the portion of data values being within one standard deviation of the mean is approximately _____.?a.?33%?b.?50%?c.?68%?d.?95%ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge9.?A box plot is a graphical representation of data that is based on _____.?a.?the empirical rule?b.?z-scores?c.?a histogram?d.?a five-number summaryANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge10.?The coefficient of variation indicates how large the standard deviation is relative to the _____.?a.?mean?b.?median?c.?range?d.?varianceANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge11.?Which of the following descriptive statistics is NOT measured in the same units as the data??a.?35th percentile?b.?standard deviation?c.?variance?d.?interquartile rangeANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension12.?A numerical measure computed from a sample, such as sample mean, is known as a _____.?a.?population parameter?b.?sample parameter?c.?sample statistic?d.?population statisticANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??IntroductionLEARNING?OBJECTIVES:??MBST.ASWC.18.03.00 - 3.0NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge13.?A numerical measure, such as a mean, computed from a population is known as a _____.?a.?population parameter?b.?sample parameter?c.?sample statistic?d.?population statisticANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??IntroductionLEARNING?OBJECTIVES:??MBST.ASWC.18.03.00 - 3.0NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge14.?Which of the following depicts a moderately left-skewed distribution??a.?

?b.??c.??d.?ANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension15.?A graph with skewness?–1.8 would be which of the following??a.?moderately skewed left?b.?highly skewed left?c.?moderately skewed right?d.?highly skewed rightANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension16.?The mean of a sample is _____.?a.?always equal to the mean of the population?b.?always smaller than the mean of the population?c.?computed by summing the data values and dividing the sum by (n ? 1)?d.?computed by summing all the data values and dividing the sum by the number of itemsANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge17.?The mean of the sample _____.?a.?is always larger than the mean of the population from which the sample was taken?b.?is always smaller than the mean of the population from which the sample was taken?c.?can never be zero?d.?None of the answers is correct.ANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge18.?In statistics, what does IQR mean??a.?individual quantity range?b.?inter-quantity relativity?c.?individual quartile relativity?d.?inter-quartile rangeANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge19.?After the data have been arranged from smallest value to largest value, the value in the middle is called the _____.?a.?range?b.?median?c.?mean?d.?None of the answers is correct.ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge20.?If a data set has an even number of observations, the median _____.?a.?cannot be determined?b.?is the observation recorded most often?c.?must be equal to the mean?d.?is the average value of the two middle items when all items are arranged in ascending orderANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge21.?Since the median is the middle value of a data set, it must always be _____.?a.?smaller than the mode?b.?larger than the mode?c.?smaller than the mean?d.?None of the answers is correct.ANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge22.?The most frequently occurring value of a data set is called the _____.?a.?range?b.?mode?c.?mean?d.?None of the answers is correct.ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge23.?Since the mode is the most frequently occurring data value, it _____.?a.?can never be larger than the mean?b.?is always larger than the median?c.?is always larger than the mean?d.?None of the answers is correct.ANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge24.?Excel's _____ function can be used to compute the mean.?a.?MAX?b.?AVERAGE?c.?MEDIAN?d.?MODEANSWER:??bPOINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application25.?Excel's _____?function can be used to compute the middle value of an ordered data set.?a.?MAX?b.?AVERAGE?c.?MEDIAN?d.?MODEANSWER:??cPOINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application26.?Excel's _____ function can be used to compute the data value occurring most frequently.?a.?MAX?b.?AVERAGE?c.?MEDIAN?d.?MODE.SNGLANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application27.?The five-number summary consists of what five statistical measures??a.?min, Q1, median, Q3, max?b.?Q1, Q2, median, Q3, Q4?c.?min, Q1, mean, Q3, max?d.?Q1, Q2, mean, Q3, Q4ANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge28.?In computing the pth percentile, if the index i is an integer the pth percentile is the _____.?a.?data value in position i?b.?data value in position i + 1?c.?average of data values in positions?i and i + 1?d.?average of data values in positions?i and i – 1ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension29.?The 50th percentile is the _____.?a.?mode?b.?median?c.?mean?d.?third quartileANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge30.?The 75th percentile is also the _____.?a.?first quartile?b.?second quartile?c.?third quartile?d.?fourth quartileANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge31.?The first quartile _____.?a.?contains at least one third of the data elements?b.?is the same as the 25th percentile?c.?is the same as the 50th percentile?d.?is the same as the 75th percentileANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge32.?Which of the following is NOT a measure of location??a.?mean?b.?median?c.?variance?d.?modeANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge33.?The median of a sample will always equal the _____.?a.?mode?b.?mean?c.?50th percentile?d.?All of the answers are correct.ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge34.?The measure of location most likely to be influenced by extreme values in the data set is the _____.?a.?range?b.?median?c.?mode?d.?meanANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: ComprehensionExhibit 3-1A researcher has collected the following sample data.?512685?67512435.?Refer to Exhibit 3-1. The median is _____.?a.?5?b.?6?c.?7?d.?8ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension36.?Refer to Exhibit 3-1. The mode is?_____.?a.?5?b.?6?c.?7?d.?8ANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension37.?Refer to Exhibit 3-1. The mean is?_____.?a.?5?b.?6?c.?7?d.?8ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension38.?Refer to Exhibit 3-1. The 75th percentile is?_____.?a.?5?b.?6?c.?7?d.?8ANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: ComprehensionExhibit 3-2A researcher has collected the following sample data. The mean of the sample is 5.?35123239.?Refer to Exhibit 3-2. The variance is?_____.?a.?80?b.?4.062?c.?13.2?d.?16.5ANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension40.?Refer to Exhibit 3-2. The standard deviation is?_____.?a.?8.944?b.?4.062?c.?13.2?d.?16.5ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension41.?Refer to Exhibit 3-2. The coefficient of variation is?_____.?a.?72.66%?b.?81.24%?c.?264%?d.?330%ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension42.?Refer to Exhibit 3-2. The range is?_____.?a.?1?b.?2?c.?10?d.?12ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension43.?Refer to Exhibit 3-2. The interquartile range is?_____.?a.?1?b.?2?c.?10?d.?12ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: ComprehensionExhibit 3-3Suppose annual salaries for sales associates from Hayley's Heirlooms have a bell-shaped distribution with a mean of $32,500 and a standard deviation of $2,500.44.?Refer to Exhibit 3-3. The z-score for a sales associate from this store who earns $37,500 is?_____.?a.?37.5?b.?2?c.?–2?d.?.92ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension45.?Refer to Exhibit 3-3. The z-score for a sales associate from this store who earns $28,000 is?_____.?a.?28?b.?1.8?c.?–1.8?d.?.78ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: ComprehensionExhibit 3-4The following is the frequency distribution for the speeds of a sample of automobiles traveling on an interstate highway.?Speed (mph)Frequency?50?54??2?55?59??4?60?64??5?65?6910?70?74??9?75?79??5??35??46.?Refer to Exhibit 3-4. The mean is?_____.?a.?35?b.?670?c.?10?d.?67ANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension47.?Refer to Exhibit 3-4. The variance is _____.?a.?6.969?b.?7.071?c.?48.570?d.?50.000ANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension48.?Refer to Exhibit 3-4. The standard deviation is?_____.?a.?6.969?b.?7.071?c.?48.570?d.?50.000ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension49.?The difference between the largest and smallest data values is the?_____.?a.?variance?b.?interquartile range?c.?range?d.?coefficient of variationANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension50.?The interquartile range is?_____.?a.?the 50th percentile?b.?another name for the variance?c.?the difference between the largest and smallest values?d.?the difference between the third and first quartilesANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension51.?The interquartile range is used as a measure of variability to overcome what difficulty of the range??a.?The sum of the range variances is zero.?b.?The range is difficult to compute.?c.?The range is influenced too much by extreme values.?d.?The range is negative.ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension52.?The sample variance?_____.?a.?is always smaller than the true value of the population variance?b.?is always larger than the true value of the population variance?c.?could be smaller, equal to, or larger than the true value of the population variance?d.?can never be zeroANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge53.?The variance of a sample or a population cannot be _____.?a.?negative?b.?calculated?c.?zero?d.?less than1ANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge54.?The symbol for _____ is r.?a.?sample covariance?b.?population covariance?c.?sample correlation?d.?population correlationANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge55.?The sum of deviations of the individual data elements from their mean is _____.?a.?always greater than zero?b.?always less than zero?c.?sometimes greater than and sometimes less than zero, depending on the data elements?d.?always equal to zeroANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge56.?The value of the sum of the squared deviations from the mean, i.e., must always be _____.?a.?less than the mean?b.?negative?c.?either positive or negative, depending on whether the mean is negative or positive?d.?at least zeroANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge57.?If the variance of a data set is correctly computed with the formula using n ? 1 in the denominator, which of the following is true??a.?The data set is a sample.?b.?The data set is a population.?c.?The data set could be either a sample or a population.?d.?The data set is from a census.ANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge58.?During a cold winter, the temperature stayed below zero for 10 days (ranging from –20 to –5). The variance of the temperatures of the 10 day period _____.?a.?is negative since all the numbers are negative?b.?must be at least zero?c.?cannot be computed since all the numbers are negative?d.?can be either negative or positiveANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge59.?The variance of a sample of 81 observations is 64. The standard deviation of the sample is which of the following??a.?9?b.?4,096?c.?8?d.?6,561ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge60.?The standard deviation of a sample of 100 observations is 64. The variance of the sample is which of the following??a.???????8?b.?????10?c.?6,400?d.?4,096ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge61.?The numerical value of the standard deviation can never be _____.?a.?larger than the variance?b.?zero?c.?negative?d.?All of the answers are correct.ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge62.?Excel's _____ function can be used to compute the sample variance.?a.?VAR?b.?VAR.C?c.?VAR.S?d.?STDEV.SQANSWER:??cPOINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application63.?Excel's _____ function can be used to compute the population variance.?a.?VAR.S?b.?VAR.C?c.?VAR?d.?None of the answers is correct.ANSWER:??dPOINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application64.?Excel's _____ function can be used to compute the sample standard deviation.?a.?STDEV?b.?VAR.SQRT?c.?STDEV?d.?STDEV.SANSWER:??dPOINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application65.?Excel's _____ function can be used to compute the population standard deviation.?a.?STDEV.S?b.?VAR.SQRT?c.?STDEV?d.?None of the answers is correct.ANSWER:??dPOINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application66.?The coefficient of variation is _____.?a.?the same as the variance?b.?the square root of the variance?c.?the square of the standard deviation?d.?None of the answers is correct.ANSWER:??dPOINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application67.?The weight (in pounds) of a sample of 36 individuals was recorded, and the following statistics were calculated.?mean = 160range = 60?mode = 165variance = 324?median = 170?The coefficient of variation is?_____.?a.?0.1125%?b.?11.25%?c.?203.12%?d.?0.20312%ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension68.?Which of the following is a measure of dispersion??a.?percentiles?b.?quartiles?c.?interquartile range?d.?All of the answers are correct.ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge69.?Which of the following is not a measure of dispersion??a.?range?b.?50th percentile?c.?standard deviation?d.?interquartile rangeANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge70.?The measure of dispersion that is influenced most by extreme values is the _____.?a.?variance?b.?standard deviation?c.?range?d.?interquartile rangeANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge71.?The descriptive measure of dispersion that is based on the concept of a deviation about the mean is?_____.?a.?the range?b.?the interquartile range?c.?both the range and the interquartile range?d.?neither the range nor the interquartile rangeANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge72.?The symbol for _____ is r.?a.?sample covariance?b.?population covariance?c.?sample correlation?d.?population correlationANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge73.?The descriptive measure NOT measured in the same units as the original data is the?_____.?a.?median?b.?standard deviation?c.?mode?d.?varianceANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge74.?Which of the following symbols represents the size of a population??a.?σ 2?b.?σ?c.?μ?d.?NANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge75.?Which of the following symbols represents the size of a sample??a.?σ 2?b.?σ?c.?N?d.?nANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge76.?Which of the following symbols represents the mean of a population??a.?σ 2?b.?σ?c.?μ?d.?ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge77.?Which of the following symbols represents the mean of a sample??a.?σ 2?b.?σ?c.?μ?d.?ANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge78.?Which of the following symbols represents the variance of a population??a.?σ 2?b.?σ?c.?μ?d.?ANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge79.?The symbol σ 2 is used to represent the?_____.?a.?variance of a population?b.?standard deviation of a sample?c.?standard deviation of a population?d.?variance of a sampleANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge80.?Which of the following symbols represents the standard deviation of a population??a.?σ 2?b.?σ?c.?μ?d.?ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge81.?The symbol σ is used to represent the?_____.?a.?variance of a population?b.?standard deviation of a sample?c.?standard deviation of a population?d.?variance of a sampleANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge82.?The _____ denotes the number of standard deviations xi is from the mean .?a.?variance?b.?median?c.?z-score?d.?normal deviationANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge83.?A(n) _____ is an unusually small or unusually large data value.?a.?sample statistic?b.?median?c.?z-score?d.?outlierANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge84.?_____ can be used to make statements about the proportion of data values that must be within a specified number of standard deviations of the mean, regardless of the shape of the distribution.?a.?Chebyshev's theorem?b.?The empirical rule?c.?A five-number summary?d.?A box plotANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge85.?_____ can be used to determine the percentage of data values that must be within one, two, and three standard deviations of the mean for data having a bell-shaped distribution.?a.?Chebyshev's theorem?b.?The empirical rule?c.?A five-number summary?d.?A box plotANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge86.?In a five-number summary, which of the following is NOT used for data summarization??a.?smallest value?b.?largest value?c.?median?d.?meanANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Five-Number Summaries and Box PlotsLEARNING?OBJECTIVES:??MBST.ASWC.18.03.04 - 3.4NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge87.?A graphical summary of data that is based on a five-number summary is a?_____.?a.?histogram?b.?stem-and-leaf display?c.?scatter diagram?d.?box plotANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Five-Number Summaries and Box PlotsLEARNING?OBJECTIVES:??MBST.ASWC.18.03.04 - 3.4NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge88.?A numerical measure of linear association between two variables is the?_____.?a.?variance?b.?covariance?c.?standard deviation?d.?coefficient of variationANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge89.?Positive values of covariance indicate?_____.?a.?a positive variance of the x values?b.?a positive variance of the y values?c.?the standard deviation is positive?d.?a positive relation between the x and y variablesANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge90.?Excel's _____?function can be used to compute the sample covariance.?a.?COVARIANCE?b.?COVARIANCE.S?c.?COVAR?d.?COVAR.SANSWER:??bPOINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application91.?A numerical measure of linear association between two variables is the _____.?a.?variance?b.?z-score?c.?correlation coefficient?d.?None of the answers is correct.ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge92.?The correlation coefficient ranges from which two values??a.?0 and 1?b.??1 and +1?c.?minus infinity and plus infinity?d.?1 and 100ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge93.?The correlation coefficient _____.?a.?is the same as the covariance?b.?can be larger than 1?c.?cannot be larger than 1?d.?cannot be negativeANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge94.?Excel's _____ function can be used to compute the sample correlation coefficient.?a.?CORR.S?b.?CORR?c.?CORREL.S?d.?CORRELANSWER:??dPOINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application95.?A mean computed in such a way that each data value is given a weight reflecting its importance is referred to as a(n) _____.?a.?important mean?b.?trimmed mean?c.?weighted mean?d.?heavy meanANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge96.?If r = 0.48 for data set A and r = –0.48 for data set B, which of the following is true??a.?The variables in A are more strongly correlated than the variables in B.?b.?The data values in A are all positive, while the data values in B are all negative.?c.?The two data sets have the same level of correlation.?d.?None of the answers is correct.ANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension97.?Which of the following values of r indicates the strongest correlation??a.?.82?b.?.361?c.?0?d.?–.9ANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge98.?An important numerical measure related to the shape of a distribution is the _____.?a.?correlation coefficient?b.?variance?c.?skewness?d.?relative locationANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge99.?If the data distribution is symmetric, the skewness is?_____.?a.?0?b.?.5?c.?1?d.?None of the answers is correct.ANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge100.?For data skewed to the left, the skewness is _____.?a.?between 0 and .5?b.?less than 1?c.?positive?d.?negativeANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge101.?When the data are positively skewed, the mean will usually be?_____.?a.?less than the median?b.?greater than the median?c.?less than the mode?d.?greater than the modeANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge102.?The measure of location often used in analyzing growth rates in financial data is the _____.?a.?arithmetic mean?b.?weighted mean?c.?geometric mean?d.?hyperbolic meanANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge103.?The measure of central location most often reported for annual income and property value data is the _____.?a.?median?b.?mode?c.?weighted mean?d.?aggregate meanANSWER:??aPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge104.?Chebyshev’s theorem requires that z be _____.?a.?an integer?b.?greater than 1?c.?less than or equal to 3?d.?between 0 and 4ANSWER:??bPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge105.?Chebyshev’s theorem is applicable _____.?a.?only to large (n > 30) data sets?b.?only to data sets with no outliers?c.?only to bell-shaped data sets?d.?to any data setANSWER:??dPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge106.?A set of visual displays organizing and presenting information used to monitor the performance of a company or organization in a manner that is easy to read, understand, and interpret is called a _____.?a.?stem-and-leaf display?b.?stacked bar chart?c.?data dashboard?d.?crosstabulationANSWER:??cPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Data Dashboards: Adding Numerical Measures to Improve EffectivenessLEARNING?OBJECTIVES:??MBST.ASWC.18.03.06 - 3.6NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge107.?The hourly wages of a sample of eight individuals is given below.?IndividualHourly Wage ($)?A27?B25?C20?D10?E12?F14?G17?H19For the above sample, determine the following measures:a.Meanb.Standard deviationc.25th percentileANSWER:??a.18b.??6c.13POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension108.?In 1998, the average age of students at UTC was 22 with a standard deviation of 3.96. In 1999, the average age was 24 with a standard deviation of 4.08. In which year do the ages show a more dispersed distribution? Show your complete work and support your answer.ANSWER:??Coefficient of Variation for 1998 = 18%Coefficient of Variation for 1999 = 17%Since 18% > 17%, 1998 shows a more dispersed distribution.POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension109.?Compute the measures below for the following data:?579111519Compute the following measures:a.Meanb.Variancec.Standard deviationd.Coefficient of variatione.25th percentilef.Mediang.75th percentile?ANSWER:??a.11b.27.2c.5.22d.47.41e.7f.10g.15POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension110.?Compute the measures below for the following data:?201817232219211723?a.Meanb.Variancec.Standard deviationd.Coefficient of variatione.25th percentilef.Mediang.75th percentileANSWER:??a.20b.5.75c.2.4d.11.99e.18f.20g.22POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension111.?A private research organization studying families in various countries reported the following data for the time that 4-year-old children spent alone with their fathers each day.CountryTime with Dad (minutes)Belgium30Canada44China54Finland50Germany36Nigeria42Sweden46United States42?For the above sample, determine the following measures:a.Meanb.Standard deviationc.Moded.75th percentileANSWER:??a.43b.7.56c.42d.48POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension112.?The following data show the yearly salaries of football coaches at some state-supported universities.UniversitySalary ($1,000s)A53B44C68D47E62F59G53H94?For the above sample, determine the following measures.a.Mean yearly salaryb.Standard deviationc.Moded.Mediane.70th percentile?ANSWER:??a.60b.15.8c.53d.56e.62POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension113.?The amount of time that a sample of students spends watching television per day is given below.?StudentTime (minutes)??140??228??371??448??549??635??740??857??pute the mean.pute the median.pute the standard deviation.pute the 75th percentile.ANSWER:??a.46b.44c.13.5d.53POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension114.?The number of hours worked per week for a sample of 10 students is shown below.?StudentHours??120??2??0??318??416??522??640??78??86??930??1040??a.Determine the median and explain its meaning.pute the 70th percentile and explain its meaning.c.What is the mode of the above data? What does it signify??ANSWER:??a.19; approximately 50% of the students work at least 19 hoursb.26; at least 70% of the students work less than or equal to 26 hours per weekc.40; the most frequent data elementPOINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension115.?A researcher has obtained the number of hours worked per week during the summer for a sample of 15 students.40253530204030204010302010520Using this data set, compute the following:a.Medianb.Meanc.Moded.40th percentilee.Rangef.Sample varianceg.Standard deviationANSWER:??a.25b.25c.20d.20e.35f.128.6g.11.3POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension116.?A sample of 12 families was asked how many times per week they dine in restaurants. Their responses are given below.?210202120212Using this data set, compute the following:a.Modeb.Medianc.Meand.Rrangee.Interquartile rangef.Varianceg.Standard deviationh.Coefficient of variationANSWER:??a.2b.1.5c.1.25d.2e.1.5f.0.75g.0.866h.69.28%POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension117.?A sample of 9 mothers was asked the age of their oldest child. Their responses are given below.?312471462911??pute the mean.pute the variance.pute the standard deviation.pute the coefficient of variation.e.Determine the 25th percentile.f.Determine the median.g.Determine the 75th percentile.h.Determine the range.ANSWER:??a.7.56b.17.78c.4.22d.55.8e.4.0f.7.0g.11h.12POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension118.?A sample of 11 individuals shows the following monthly incomes.?IndividualIncome ($)????1??1,500????2??2,000????3??2,500????4??4,000????5??4,000????6??2,500????7??2,000????8??4,000????9??3,500??10??3,000??1143,000??a.What would be a representative measure of central location for the above data? Explain.b.Determine the mode.c.Determine the median.d.Determine the 60th percentile.e.Drop the income of individual number 11 and compute the standard deviation for the first 10 individuals.ANSWER:??a.Median, because the income of individual 11 is unusually high.b.4,000c.3,000d.3,500e.936.90POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of VariabilityLEARNING?OBJECTIVES:??MBST.ASWC.18.03.02 - 3.2NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension119.?Suppose annual salaries for sales associates from Geoff's Computer Shack have a mean of $32,500 and a standard deviation of $2,500.a.Calculate and interpret the z-score for a sales associate who makes $36,000.b.Use Chebyshev's theorem to calculate the percentage of sales associates with salaries between $26,250 and $38,750.c.Suppose that the distribution of annual salaries for sales associates at this store is bell-shaped. Use the empirical rule to calculate the percentage of sales associates with salaries between $27,500 and $37,500.d.Use the empirical rule to determine the percentage of sales associates with salaries less than $27,500.e.Still suppose that the distribution of annual salaries for sales associates at this store is bell-shaped. A sales associate makes $42,000. Should this salary be considered an outlier? Explain.ANSWER:??a.1.4. This sales associate's annual salary is 1.4 standard deviations higher than the mean annual salary for sales associates from this store.?b.84%c.95%d.2.5%e.Yes, because this salary is more than three standard deviations from the mean. It has a z-score of 3.8.??POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension120.?Provide a five-number summary for the following data.?115191153194236?184216185183202ANSWER:??Min = 115,Q1 = 183,Median = 188,Q3 = 202,Max = 236POINTS:??1DIFFICULTY:??EasyREFERENCES:??Five-Number Summaries and Box PlotsLEARNING?OBJECTIVES:??MBST.ASWC.18.03.04 - 3.4NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension121.?The following observations are given for two variables.?xy????5??2????812??18??3??20??6??2211??3019??1018????7??9??pute and interpret the sample covariance for the above data.pute and interpret the sample correlation coefficient.ANSWER:??a.19.3. Since the covariance is positive, a positive relationship between x and y is indicated.b.0.345. There is a positive relationship between x and y. The relationship is not very strong.POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension122.?The following data represent the daily demand (y in thousands of units) and the unit price (x in dollars) for a product.?Daily Demand (y)Unit Price (x)??47??1??39??3??35??5??44??3??34??6??20??8??1516??30??6??pute and interpret the sample covariance for the above data.pute and interpret the sample correlation coefficient.?ANSWER:??a.–47.00 (rounded). Since the covariance is negative, a negative relationship between x and y is indicated.?b.–0.922. There is a strong negative relationship between daily demand and unit price.?POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension123.?Compute the weighted mean for the following data.xi?Weight (wi)9?108?125???43???52???3??ANSWER:??6.68POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension124.?Compute the weighted mean for the following data.xi?Weight (wi)19?1217?3014?2813?1018?10?ANSWER:??16POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension125.?Paul, a freshman at a local college, just completed 15 credit hours. His grade report is presented below.CourseCredit HoursGradeCalculus5CBiology4AEnglish3DMusic2BP.E.1AThe local university uses a 4-point grading system, i.e., A = 4, B = 3, C = 2, D = 1, F = 0. Compute Paul's semester grade point average.ANSWER:??2.6POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension126.?Suppose the mean GMAT score is 550 with a standard deviation of 100. Hayden takes the GMAT and is told his z-score is 2.5. Interpret the meaning of a z-score in this context.ANSWER:??Since Hayden’s z-score is positive, he scored above the mean of 550. The value, 2.5, indicates he scored 2.5 standard deviations from the mean. One standard deviation is 100, so 2.5 standard deviations is 250. Therefore, Hayden scored 250 points above the mean of 550, or 800 on the GMAT.POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension127.?Explain why Chebyshev’s theorem cannot be used for one standard deviation from the mean.ANSWER:??Chebyshev’s Theorem requires an input value of at least 2, since an input of 1 would cause a divide by 0 error.POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension128.?Use this data set to answer the following questions.15115314366826151320?a.Find the five-number summary.b.Find the IQR.c.Use IQR to determine whether there are any outliers. Explain.ANSWER:??a.11, 14, 17.5, 36, 68b.22c.68 is a suspected outlier, since it seems to be much higher than most other data values.? 1.5(IQR) = 33, and 33 + 36 = 69. Since 68 < 69, it is not an outlier.?POINTS:??1DIFFICULTY:??EasyREFERENCES:??Five-Number Summaries and Box PlotsLEARNING?OBJECTIVES:??MBST.ASWC.18.03.04 - 3.4NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension129.?Use Excel to make a box plot of the following data:?15115314366826151320??ANSWER:???POINTS:??1DIFFICULTY:??ModerateREFERENCES:??Five-Number Summaries and Box PlotsLEARNING?OBJECTIVES:??MBST.ASWC.18.03.04 - 3.4NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application130.?Use Excel to make a box plot of the following data:?115191153194236184216185183202ANSWER:??POINTS:??1DIFFICULTY:??ModerateREFERENCES:??Five-Number Summaries and Box PlotsLEARNING?OBJECTIVES:??MBST.ASWC.18.03.04 - 3.4NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application131.?Use this data set to answer the following questions.?115191153194236184216185183202??a.Find the five-number summary.b.Find the IQR.c.Use IQR to determine whether there are any outliers. Explain.?ANSWER:??a.115, 183, 188, 202, 236b.19c.1.5(IQR) = 28.5. 183 – 28.5 = 154.5 and 202 + 28.5 = 230.5115 and 153 are both less than 154.5, and 236 is greater than 230.5, so 115, 153, and 236 are all outliers.??POINTS:??1DIFFICULTY:??EasyREFERENCES:??Five-Number Summaries and Box PlotsLEARNING?OBJECTIVES:??MBST.ASWC.18.03.04 - 3.4NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension132.?Describe how a comparative analysis using box plots of men’s vs. women’s salaries at ACME, Inc. could be used.?ANSWER:??Two box plots, one depicting men’s and one depicting women’s salaries, side by side would visually show differences between minimum, maximum, and median values. Differences or similarities of variability could also be easily recognized, as would any outliers in either direction.? ACME, Inc. could use this depiction to correct gender bias, if it existed, with regard to salary, or the company could publish the comparative analysis using box plots to demonstrate no gender bias exists, if it doesn’t.POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge133.?Del Michaels had a successful morning, or so he thinks, selling 1,300 surplus notebook computers over the telephone to three commercial customers. The three customers were not equally skillful at negotiating a low unit price. Customer A bought 600 computers for $1,252 each, B bought 300 units at $,1,310 each, and C bought 400 at $1,375 each.a. What is the average unit price at which Del sold the 1,300 computers?b. Del’s manager told Del he expected him to sell, by the end of the day, a total of 2,500 surplus computers at an average price of $1,312 each. What is the average unit price at which Del must sell the remaining 1,200 computers?ANSWER:??a. $1,303.23b. $1,321.50POINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application134.?Missy Walters owns a mail-order business specializing in baby clothes. She is considering offering her customers a discount on shipping charges based on the dollar amount of the mail order. Before Missy decides the discount policy, she needs a better understanding of the dollar amount distribution of the mail orders she receives. Missy had an assistant randomly select 50 recent orders and record the value, to the nearest dollar, of each order as shown below.?136281226123178445231389196175211162212241182290434167246338194242368258323196183209198212277348173409264237490222472248231154166214311141159362189260?a. Determine the mean, median, and mode for this data set.b. Determine the 80th percentile.c. Determine the first quartile.d. Determine the range and interquartile range.e. Determine the sample variance, sample standard deviation, and coefficient of variation.f. Determine the z-scores for the minimum and maximum values in the data set.ANSWER:??a. mean = 251.46, median = 228.5, modes = 196 and 231b. 331.5c. 183d. range = 367, interquartile range = 107e. variance = 8398.5, standard deviation = 91.64, coefficient of variation = 36.44f. minimum’s z-score = –.40, maximum’s z-score = 2.60POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Distribution Shape, Relative Location, and Detecting OutliersLEARNING?OBJECTIVES:??MBST.ASWC.18.03.03 - 3.3NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension135.?Ron Butler, a custom home builder, is looking over the expenses he incurred for a house he just finished constructing. To price future construction projects, he would like to know the average wage ($/hr.) he paid the workers he employed. Listed below are the categories of worker he employed, along with their respective wage and total hours worked. What is the average wage ($/hr.) he paid the workers?WorkerWage ($/hr.)Total HoursCarpenter21.60520Electrician28.72230Laborer11.80410Painter19.75270Plumber24.16160ANSWER:??$20.05POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of LocationLEARNING?OBJECTIVES:??MBST.ASWC.18.03.01 - 3.1NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension136.?Interpret the scatter plot in terms of correlation.?ANSWER:??There is a moderate, positive linear correlation between the ages of spouses at first marriage.POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge137.?Interpret the scatter plot in terms of correlation.ANSWER:??There is a very strong, negative linear correlation between the age of a car and its value.POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Knowledge138.?Angela Lopez, a golf instructor, is interested in investigating the relationship between a golfer’s average driving distance and 18-hole score. She recently observed the performance of six golfers during one round of a tournament and measured, as accurately as possible, the distances (yards) of their drives and noted their final scores. She then computed each golfer’s average drive distance for 18 holes. The results of her sample are shown below.?GolferAvg. Drive (yards)18-Hole Score1277.6692259.5713269.1704267.0705255.6716272.969?Compute and interpret both the sample covariance and the sample correlation coefficient.?ANSWER:??The sample covariance value of –7.08 indicates a negative relationship between driving distance and final score. This is not surprising. Unless a golfer’s putting performance is relatively poor, we would expect longer driving distances to lead to lower final scores. The correlation coefficient value of –.96 indicates (because it is so close to –1.00) an exceptionally strong negative correlation between driving distance and final score.POINTS:??1DIFFICULTY:??ModerateREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Application139.?Reed Auto periodically has a special weeklong sale. As part of the advertising campaign, Reed runs one or more television commercials during the weekend preceding the sale. Data from a sample of five previous sales are shown below.?WeekTV AdsCars Sold11142324321841175327Compute and interpret both the sample covariance and the sample correlation coefficient.?ANSWER:??Sample covariance = 5.0; sample correlation coefficient = .937POINTS:??1DIFFICULTY:??EasyREFERENCES:??Measures of Association Between Two VariablesLEARNING?OBJECTIVES:??MBST.ASWC.18.03.05 - 3.5NATIONAL?STANDARDS:??United States - Business Program.1: - Reflective ThinkingKEYWORDS:??Bloom's: Comprehension ................
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