 # 1) Descriptive statistics focuses on summarizing data while inferen...

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1) Descriptive statistics focuses on summarizing data while inferential statistics deals with the selection and use of sample data to produce information about the larger population from which the sample was selected. a. True b. False 2) Time series data are data collected at, or representing, multiple time periods. a. True b. False 3) The mean identifies the center of the data separating it 50/50 a. True b. False 4) The most frequently occurring value of a data set is called the median. a. True b. False 5) A survey collects only sample data. a. True b. False 6) When calculating the p th percentile, if the index i IS an integer then take the average of the data values in the i – 1 and i + 1 positions. a. True b. False 7) The interquartile range measures the middle 68.3% of the values in the data set. a. True b. False 8) If a data value has a z-score of -3.05 then it is considered an outlier. a. True b. False 9) In a state tax form, taxpayers are asked for their marital status and employment details. The marital status is an example of: 2 a. Quantitative data b. Qualitative data c. Qualitative or Quantitative depending if it is entered as text or numbers d. Ratio data e. Private data 10) Which variable is usually non-numeric rather than numeric? a. number of siblings b. birth weight c. educational level d. baking temperature e. speed limit 11) Where can we find Statistics being used? a. epidemiology b. marketing c. journalism d. sports e. all of the above 12) In a sample of 200 employees in a west coast Tech company, 75, or 35%, self-identified as Hispanic. Based on this result, the company reported that “about a third of our employees are Hispanics”. This report is an example of: a. a sample b. a population c. statistical inference d. descriptive statistics e. none of the above 13)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 e. none of the above 14) Which of the following is an accurate interpretation of the standard deviation of a population? 3 a. The standard deviation represents the exact average distance of each observation to the mean. b. The standard deviation represents the square root of the average squared distance of each observation to the mean. c. The standard deviation represents the square root of the sum of the squared distance of each observation to the mean. d. The standard deviation represents the average deviation of each observation from the mean. e. The standard deviation calculation involves n-1 in the denominator. 15) When looking at the shape of a distribution, which of the following best describes positive skewness? a. the distribution is evenly split into two identical halves b. the distribution has an elongated tail in the right-hand direction c. the distribution has an elongated tail in the left-hand direction d. the distribution has a very steep single peak e. the distribution has two separate peaks with a valley in between 16) Which of the following graphical presentations for depicting quantitative data has no natural separation between rectangles of adjacent classes: a. bar chart b. pie chart c. histogram d. box-and-whisker plot e. scatter diagram 17) 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 e. none of the above 18) A coffee shop finds that the correlation between daily high temperature and daily sales is -0.74. The interpretation of this value is as follows: a. The value of sales falls approximately \$0.74 for each degree that the temperature increases. 4 b. The slope of the linear relationship between temperature and sales is -0.74; there is a positive relation between the two. c. There is a negative association between temperature and sales: as the temperature falls, sales tend to decrease. d. There is a negative association between temperature and sales: as the temperature falls, sales tend to increase. e. There is a negative association between temperature and sales: as the temperature falls, sales tend to decrease by \$0.74. 19)Studies have shown that the number of fire engines at a fire and the amount of damage done by the fire are highly and positively correlated. Which of the following conclusions seems most appropriate? a. send as few fire engines to a fire as possible. b. the presence of more fire engines tends to cause more confusion, leading to greater fire damage. c. the number of fire engines and the amount of fire damage are both related to a third factor—the size of the fire—and so are correlated to one another. d. fires and fire engines have something in common – they are both red. e. none of the above 20)Which of the following best describes the coefficient of variation? a. it measures variation as a percentage of the mean. b. it calculated as the mean divided by the standard deviation. c. it is not helpful when comparing the dispersion in data sets that have different means d. it can only be calculate using population parameters, not sample statistics e. all of the above 5 The table shows the life expectancy of the G8 countries (Datablog, Guardian.co.uk, July 8 2009) 21) What is the mean life expectancy of the eight countries? a. 78.0 b. 80.5 c. 81.0 d. 75.0 e. 860.0 22) What is the median life expectancy of the eight countries? a. 78.0 b. 80.5 c. 81.0 d. 75.0 e. 860.0 23)What is the mode of life expectancy in the eight countries? a. 78 years b. 80 years c. 81 years d. 75 years e. 860 years 24) What is the range of life expectancy in the eight countries? a. 17 years b. 25 years c. 28.25 years d. 78 years e. 83 years Canada 81 China 73 France 81 Germany 80 Italy 81 Japan 83 Russia 66 United Kingdom 79 6 25) Treating the data as a population, what is the mean absolute deviation (MAD) of life expectancy in the eight countries, in years? a. 4.25 b. 4.86 c. 5.3 d. 55.0 e. 78 : 26) Treating the data as a population, what is the variance of life expectancy in the eight countries, in years squared? a. 5.3 b. 5.7 c. 10.15 d. 28.25 e. 32.3 7 The following chart gives the number of full years served by the first 42 presidents of the United States (up to and including George W. Bush). 27) What is the average number of full years served by the first 42 presidents of the United States? a. 4.0 years b. 4.2 years c. 4.8 years d. 5.2 years e. 6.5 years 28) What is the standard deviation of full years served by the first 42 presidents of the United States? Remember that this includes all of the presidents. a. 2.0 years b. 4.0 years c. 5.2 years d. 6.5 years e. 8.3 years Full Years Frequency 0 1 1 2 2 2 3 3 4 15 5 2 6 2 7 1 8 13 12 1 8 Below is a table showing the ages of current active users of FaceTime.com. Age of User Number of Users 0-20 81.2 20-40 79.5 40-60 84.1 60-80 45.9 80-100 11.4 100-120 0.1 29) Use the table to approximate the mean age of users. a. 43.75 b. 32.44 c. 35.14 d. 41.22 e. 38.55 30) Use the table to approximate the variance of user ages. a. 431.27 b. 526.35 c. 367.19 d. 484.23 e. 572.84 31) Use the table to approximate the standard deviation of user ages. a. 22.9 b. 19.7 c. 12.8 d. 34.6 e. 25.2 9 The table below shows the advertising expenditures in \$millions for the nine largest tech companies during the past year. Company Advertising Apple 132.1 Samsung 179.6 HP 234.7 Microsoft 146.5 IBM 144.1 Panasonic 171.0 Toshiba 194.9 Sony 169.6 Dell 169.5 32) Determine the median advertising expenditure. a. 175.8 b. 181.2 c. 156.4 d. 169.6 e. 190.5 33) Determine the 25th percentile or first quartile value here. a. 138.6 b. 146.5 c. 122.5 d. 119.0 e. 133.8 34)Determine the 75th percentile or third quartile value here. a. 183.4 b. 196.1 c. 165.9 d. 187.3 e. 179.6 10 35) Profits (in \$millions) for Caldwell-Hewitt’s US Division and European Division over the past four years are shown below. Judging by the correlation coefficient Year US Europe 1 6.9 15.4 2 6.3 14.7 3 7.1 16.1 4 7.4 16.5 a. The correlation is strong and when the US grows, Europe declines b. The correlation is strong and when the US grows, Europe grows c. The correlation is weak and when the US grows, Europe declines d. The correlation is weak and when the US grows, Europe grows e. The correlation is close to zero US and Europe are close to flat 36) We are betting in a 4-horse race, we know the odds and have translated the odds to the mean of their winning chance, we also know the standard deviation of their last 10 races. How would a rational bettor place his/hers win, place, show (1st, 2nd, 3rd) bet? a. A, B, C b. B, C, D c. C, B, D d. D, C, A e. Would not bet on this race winning odds chance Std. Dev Horse A 4|1 20% 45% Horse B 7|1 14% 20% Horse C 2|1 33% 40% Horse D 5|2 29% 50% 11 37) Andrew Costanzo has a stock portfolio that contains 24 shares of stock A and six shares of stock B. Over the past year, the value of a share of stock A went up to \$3.00 and the value of a share of stock B fell to \$50. Apply a weighted average approach to produce the current average value per share in Andrew’s portfolio. a. 15.7 b. 12.4 c. 13.8 d. 21.3 e. 14.9 38) The table below shows the grades for three students, using the credits as the weights and the grading scale. Rank the students, by their weighted average grade point, highest to lowest. a. ABC b. ACB c. CAB d. BAC e. BCA Credits Student A Student B Student C Class 1 4 A- B- A Class 2 3 A A B Class 3 3 B+ B B Class 4 4 B B A Class 5 3 B A- B+ Grading Scale A 4.00 A- 3.67 B+ 3.33 B 3.00 B- 2.67 C 2.00

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1 a. True
2 a. True
3 b. False
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