Sample Midterm I
Sample Midterm I
Econ 3790: Business and Economics Statistics
Instructor: Yogesh Uppal
You are allowed to use a standard size (8.5*11) cheat sheet and a simple calculator. Please write all the answers with a BALL-POINT PEN or an INK PEN. If you have any questions during the exam, please raise your hand. GOOD LUCK!!! I am sure you guys will do great.
Multiple Choice
Identify the letter of the choice that best completes the statement or answers the question and write it in the space given next to the question number. Each multiple choice question is worth 1 point.
____ 1. In a questionnaire, respondents are asked to mark their gender as male or female. Gender is an example of the
|a. |ordinal scale |
|b. |nominal scale |
|c. |ratio scale |
|d. |interval scale |
____ 2. Data obtained from a nominal scale
|a. |must be alphabetic |
|b. |can be either numeric or nonnumeric |
|c. |must be numeric |
|d. |must rank order the data |
____ 3. In a post office, the mailboxes are numbered from 1 to 4,500. These numbers represent
|a. |qualitative data |
|b. |quantitative data |
|c. |either qualitative or quantitative data |
|d. |since the numbers are sequential, the data is quantitative |
____ 4. A tabular summary of a set of data showing the fraction of the total number of items in several classes is a
|a. |frequency distribution |
|b. |relative frequency distribution |
|c. |frequency |
|d. |cumulative frequency distribution |
____ 5. A tabular method that can be used to summarize the data on two variables simultaneously is called
|a. |simultaneous equations |
|b. |crosstabulation |
|c. |a histogram |
|d. |an ogive |
Exhibit 1-1
A survey of 800 college seniors resulted in the following crosstabulation regarding their undergraduate major and whether or not they plan to go to graduate school.
|Undergraduate Major |
|Graduate School |Business |Engineering |Others |Total |
|Yes |70 |84 |126 |280 |
|No |182 |208 |130 |520 |
|Total |252 |292 |256 |800 |
____ 6. Refer to Exhibit 1-1. What percentage of the students does not plan to go to graduate school?
|a. |280 |
|b. |520 |
|c. |65 |
|d. |32 |
____ 7. Refer to Exhibit 1.1. What percentage of the students' undergraduate major is engineering?
|a. |292 |
|b. |520 |
|c. |65 |
|d. |36.5 |
____ 8. Refer to Exhibit 1-1. Of those students who are majoring in business, what percentage plans to go to graduate school?
|a. |27.78 |
|b. |8.75 |
|c. |70 |
|d. |72.22 |
____ 9. μ is an example of a
|a. |population parameter |
|b. |sample statistic |
|c. |population variance |
|d. |mode |
____ 10. Which of the following is not a measure of central location?
|a. |mean |
|b. |median |
|c. |variance |
|d. |mode |
Problem
11. The weights (in pounds) of a sample of 36 individuals were recorded and the following statistics were calculated.
|mean = 160 |range = 60 |
|mode = 165 |variance = 324 |
|median = 170 | |
a. Calculate the coefficient of variation and interpret its value.
b. Is the distribution of weights in the above sample positively or negatively skewed? Why or why not?
c. Compute the 50th percentile in the above sample and interpret its value.
d. Compute and interpret the value of standard deviation of the above data.
12. The following data show the yearly salaries of football coaches at some state supported universities.
|University |Salary |
| |(in $1,000) |
|A |53 |
|B |44 |
|C |68 |
|D |47 |
|E |62 |
|F |59 |
|G |53 |
|H |94 |
For the above sample, determine the following measures.
|a. |The mean yearly salary |
|b. |The standard deviation |
|c. |The mode |
|d. |The median |
|e. |The 70th percentile. Please interpret your answer. |
Sample Midterm I
Answer Section
MULTIPLE CHOICE
1. ANS: B
2. ANS: B
3. ANS: A
4. ANS: B
5. ANS: B
6. ANS: C
7. ANS: D
8. ANS: A
9. ANS: A
10. ANS: C
PROBLEM
11. ANS:
|a. |11.25% |
|b. |Negatively skewed. |
|c. |170 |
|d. |18 |
12. ANS:
|a. |60 |
|b. |15.8 |
|c. |53 |
|d. |56 |
|e. |62. 70% of the universities pay their football coaches yearly salaries less than or equal to $62,000. |
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