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statistics 216
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Gravity
statistics
Terms in this set (28)
1. Which of the following data is nominal?
a. The weekly closing price of the stock of Amazon.com.
b. The month of highest vacancy rate at a La Quinta motel.
c. The quality rating of a hotel (⋆, ⋆⋆, ⋆⋆⋆, ⋆⋆⋆⋆, or ⋆⋆⋆⋆⋆).
d. The number of Toyotas imported monthly by the United States over the last 5 years.
b. The month of highest vacancy rate at a La Quinta motel.
A company has developed a new computer sound card whose average lifetime is unknown. In order to estimate this average, 200 sound cards are randomly selected from a large production line and tested; their average lifetime is found to be 5 years. The 5 years represents a
a. parameter.
b. statistic.
c. sample.
d. population.
b. statistic.
Which of the following statements is true regarding the data set 5, 5, 5, 5, and 5?
a. The range equals 0.
b. The standard deviation equals 0
c. The coefficient of variation equals 0.
d. All of the above.
d. All of the above.
The classification of student class designation (freshman, sophomore, junior, senior) is an example of a(n)
a. nominal random variable.
b. interval random variable.
c. ordinal random variable.
d. a parameter.
c. ordinal random variable.
Which of the following would best be presented with a line chart?
a. The length of time each of the top 100 stocks have been available on the NASDAQ.
b. The most popular time of year that people purchase the top 100 stocks on the NASDAQ.
c. The value of the #1 stock on the NASDAQ each month over a one-year period.
d. All of the above.
c. The value of the #1 stock on the NASDAQ each month over a one-year period.
Possible methods of creating distorted impressions with bar charts include
a. Stretching the vertical axis.
b. Shrinking the horizontal axis.
c. Constructing the bars so that their widths are proportional to their heights.
d. All of the above.
d. All of the above.
Which of the following statements about the median is not true?
a. It is more affected by extreme values than the mean.
b. It is a measure of central location.
c. It is equal to the second quartile.
d. It is equal to the mode in a symmetric, bell-shaped distribution.
a. It is more affected by extreme values than the mean.
Which of the following characteristics does a histogram help you identify?
a. The shape of distribution.
b. The approximate center of a distribution.
c. The amount of spread in a distribution.
d. All of the above.
d. All of the above.
Suppose P(A) = 0.50, P(B) = 0.75, and A and B are independent. The probability of the complement of the event (A and B) is
a. 0.5 × 0.25 = 0.125
b. 0.50 + .25 = 0.75
c. 1-(0.50+0.25)=0.25
d. 1 - (0.50 × 0.75) = 0.625
d. 1 - (0.50 × 0.75) = 0.625
If P(A)=0.20,P(B)=0.30, and P (A∩B)=0, then A and B are
a. dependent events.
b. independent events.
c. mutually exclusive events.
d. complementary events.
c. mutually exclusive events.
All of the following are classified as numerical data except
a. organizational ranking of a corporate board.
b. CPA scores of each new accountant at KPMG.
c. the cost of airing an ad on TV during prime time.
d. the number of pairs of shoes sold at a shoe store.
a. organizational ranking of a corporate board.
If A and B are independent events with P (A)= 0.60 and P (A|B)= 0.60, then P(B)is:
a. 1.20
b. 0.60
c. 0.36
d. cannot be determined with the information given
d. cannot be determined with the information given
Which of the following statement is true?
a. A common error with pie charts is using too few "slices."
b. A scatter plot can only be created between two numerical variables.
c. The line chart is appropriate for categorical data.
d. A bar chart is generally used for monthly data.
b. A scatter plot can only be created between two numerical variables.
A sample of people who have attended a USD football game has a mean = 3.2 members in their family. The mode number of family members is 2.0 and the median number is 2.0. Based on this information
a. the population mean exceeds 3.2.
b. the distribution is symmetric.
c. the distribution is positively skewed.
d. the distribution is negatively skewed.
c. the distribution is positively skewed.
Under what circumstances is it necessary to use the coefficient of variation to compare relative variability between two or more distributions?
a. When the means of the distributions are equal.
b. When the means of the distributions are not equal.
c. When the standard deviations of the distributions are not equal but the means are equal.
d. When the standard deviations of the distributions are equal.
b. When the means of the distributions are not equal.
The range of a sample of 10 values is 5 and the largest observation is 150 .The lowest value is
a. 140
b. 145
c. 155
d. cannot be computed from the data given
b. 145
According to the classical method of probability
a. all the events are equally likely.
b. the probability is based on hunches.
c. divide the number of successes by the number of failures.
d. one outcome is exactly twice the other.
a. all the events are equally likely.
For a sample of 50 stocks traded yesterday on the American Stock Exchange ,25 showed an increase of $1.00, 10 showed no change (i.e., -$0.00), and 15 decreased by $2.00 (i.e., -$2.00). Find the weighted mean.
a. -$0.10 b. $0.10
c. -$0.33 d. $1.00
a. -$0.10
The AMI Company has two assembly lines in its Kansas City plant. Line A produces an average of 335 units per day with a standard deviation equal to 11 units. Line B produces an average of 145 units per day with a standard deviation equal to 8 units. Based on this information, which line is relatively more consistent?
a. Line A since the standard deviation is lower.
b. Line B since the average is lower.
c. Line A since the coefficient of variation is lower.
d. Line B since the coefficient of variation is lower.
c. Line A since the coefficient of variation is lower.
Suppose the following is a sample of waiting time at a bank(in minutes).
4 5 7 8 10 12 13 14 15 17 Compute the 1st quartile.
a. 3.25
b. 7.25
c. 7.00
d. 13.75
b. 7.25
A recent study of young executives showed that 30 percent run, 20 percent bike and 12 percent do both .What is the percent of young executives who run or bike?
a. 0.12
b. 0.38
c. 0.50
d. 0.62
b. 0.38
If A and B are mutually exclusive events, with P(A)=0.20 and P(B)= 0.30, then the probability that both events will occur simultaneously is:
a. 0.50
b. 0.06
c. 0
d. None of these choices.
c. 0
Suppose A and B are two independent events with P(A) = 0.9 and P(B|A) = 0.5. What is the probability of P(A ∩ B)?
a. 0.45
b. 0.90
c. 0.56
d. None of these choices.
a. 0.45
The following information regarding a portfolio of two stocks are given: weight1 = .25, weight2 = .75, E(investment 1) = .08, and E(investment 2) = .15. Which of the following regarding the portfolio expected return is correct?
a. 0.3640
b. 0.2300
c. 0.1325
d. 0.1699
c. 0.1325
A carnival has a game of chance :a fair coin is tossed. If it lands heads you win $1.00 and if it lands tails you lose 50cents.How much should a ticket to play this game cost if the carnival wants to break even?
a. $0.25
b. $0.50
c. $0.75
d. $1.00
a. $0.25
A random variable is binomially distributed with n = 5 and p = .40. The expected value and standard deviation of the variables are
a.2.00 and 0.2400
b.2.00 and 0.0576
c.2.00 and 1.0954
d.2.00 and 1.2000
c.2.00 and 1.0954
What is the probability of at least two damaged disks in a random sample of 5 from a shipment that contains 20 percent damaged disks?
a. 0.9421
b. 0.0579
c. 0.7373
d. 0.2627
d. 0.2627
Calculate the 30th and 60th percentiles of the accompanying data.
7 18 12 17 29 18 4 27 30 2 4 10 21 5 8
a. 30th percentile
b. 60th percentile
a. 30th percentile
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