Statistics Final Exam ACTUAL Exam Questions and CORRECT Answers
6 views 0 purchase
Course
Statistics
Institution
Statistics
Statistics Final Exam ACTUAL Exam
Questions and CORRECT Answers
Identify the sampling technique used in the following information.
An important part of employee compensation is a benefits package that might include health
insurance, life insurance, child care, vacation days, retirement plan, ...
Statistics Final Exam ACTUAL Exam
Questions and CORRECT Answers
Identify the sampling technique used in the following information.
An important part of employee compensation is a benefits package that might include health
insurance, life insurance, child care, vacation days, retirement plan, parental leave, bonuses,
etc. Suppose you want to conduct a survey of benefits packages available in private
businesses in Hawaii. You want a sample size of 100. Sampling technique used to get the
sample size of 100 is described below.
Assign each business in the Island Business Directory a number, and then use a random-
number table to select the business to be included in the sample. - CORRECT ANSWER✔✔-
Simple random sample
Data may be classified by one of the four levels of measurement. What is the name of the
lowest level? - CORRECT ANSWER✔✔- nominal
Identify the level of measurement corresponding to the data "Salesperson's performance:
below average, average, above average" associated with robotics. - CORRECT
ANSWER✔✔- ordinal
Assume that the following data represent baseball batting averages (multiplied by 1000) for a
random sample of National League players near the end of the baseball season. Make a
frequency table showing class limits, class boundaries, midpoints and frequency. Use five
classes. (Round your answer for boundaries and midpoints to the nearest tenth.)
196 257 150 293 147 297 199 252 183
125 107 259 306 306 273 289 316 254
Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable
representing annual percent return for the Vanguard Total Stock Index (all Stocks). Let y be a
random variable representing annual return for the Vanguard Balanced Index (60% stock and
40% bond). For the past several years, assume the following data.
x: 12 0 38 23 34 25
26
-12
,-12
-23
y: 10
-3
27 15 24 18 15
-3
-4
-10
The sample means for x and y are 11.10 and 8.90, respectively.
Compute the coefficient of variation for each fund. Round your answers to the nearest tenth. -
CORRECT ANSWER✔✔- for x-values: 193.7%, and for y-values: 146.1%
It is thought that prehistoric Indians did not take their best tools, pottery, and household items
when they visited higher elevations for their summer camps. It is hypothesized that
archaeological sites tend to lose their cultural identity and specific cultural affiliation as the
elevation of the site increases. Let x be the elevation (in thousands of feet) for an
archaeological site in the southwestern United States. Let y be the percentage of unidentified
artifacts (no specific cultural affiliation) at a given elevation. Suppose that the following data
were obtained for a collection of archaeological sites in New Mexico:
x
5.50
6.50
, 7.25
8.00
8.75
y
10
41
53
89
89
What percentage of the variation in y can be explained by the corresponding variation in x
and the least-squares line? - CORRECT ANSWER✔✔- 94.8%
It is thought that prehistoric Indians did not take their best tools, pottery, and household items
when they visited higher elevations for their summer camps. It is hypothesized that
archaeological sites tend to lose their cultural identity and specific cultural affiliation as the
elevation of the site increases. Let x be the elevation (in thousands of feet) for an
archaeological site in the southwestern United States. Let y be the percentage of unidentified
artifacts (no specific cultural affiliation) at a given elevation. Suppose that the following data
were obtained for a collection of archaeological sites in New Mexico:
x
5.75
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MGRADES. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
