Essentials of Modern Business Statistics

Chapter 3

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 quartiles

 

2.         An important measure of location for qualitative data is the

a.         mean

b.         median

c.         mode

d.         margin

 

3.         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.         variance

4.         Which of the following is not a measure of variability of a single variable?

a.         range

b.         covariance

c.         standard deviation

d.         coefficient of variation

 

5.         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.         sample mean

 

6.         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 mean

 

7.         µ is an example of a

a.         population parameter

b.         sample statistic

c.         population variance

d.         mode

 

8.         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 items

 

9.         Since the population is always larger than the sample, the value of the sample mean

a.         is always smaller than the true value of the population mean

b.         is always larger than the true value of the population mean

c.         is always equal to the true value of the population mean

d.         could be larger, equal to, or smaller than the true value of the population mean

 

10.       After the data has 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 other answers are correct.

 

11.       The most frequently occurring value of a data set is called the

a.         range

b.         mode

c.         mean

d.         None of the other answers are correct.

12.       Which of the following is not a measure of location?

a.         mean

b.         median

c.         variance

d.         mode

 

13.       The median of a sample will always equal the

a.         mode

b.         mean

c.         50th percentile

d.         all of these answers are correct

 

14.       The measure of location that is the most likely to be influenced by extreme values in the data set is the

a.         range

b.         median

c.         mode

d.         mean

 

15.       Which of the following is a measure of dispersion?

a.         percentiles

b.         quartiles

c.         interquartile range

d.         all of these are measures of dispersion

 

16.       The measure of dispersion that is influenced most by extreme values is

a.         the variance

b.         the standard deviation

c.         the range

d.         the interquartile range

 

17.       If two groups of numbers have the same mean, then their

a.         standard deviations must also be equal

b.         medians must also be equal

c.         modes must also be equal

d.         None of the other answers are correct.

 

18.      For the following data

 

            5          7          9          11        15        19

 

Compute the following measures:

a.            The mean

 

 

b.            The variance

 

 

c.            The standard deviation

 

19.       A mean computed in such a way that each data value is given a weight reflecting its importance is referred to as

a.         an important mean

b.         a trimmed mean

c.         a weighted means

d.         a heavy mean

 

20.       The correlation coefficient ranges between

a.         0 and 1

b.         -1 and  1

c.         minus infinity and plus infinity

d.         1 and 100

 

 

 

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