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Test Bank For Basic Business Statistics 14th Edition Berenson Full Chapter Updated 2024.

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Test Bank For Basic Business Statistics 14th Edition Berenson Full Chapter Updated 2024.Test Bank For Basic Business Statistics 14th Edition Berenson Full Chapter Updated 2024.Test Bank For Basic Business Statistics 14th Edition Berenson Full Chapter Updated 2024.Test Bank For Basic Business Statis...

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  • November 20, 2024
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  • Basic Business Statistics 14th Edition
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, Organizing and Visualizing Variables 2-1




Test Bank For Basic Business Statistics 14th
Edition Berenson Full
Chapter Updated 2024.




CHAPTER 2: ORGANIZING AND VISUALIZING
VARIABLES
SCENARIO 2-1

An insurance company evaluates many numerical variables about a person before deciding on an
appropriate rate for automobile insurance. A representative from a local insurance agency selected a
random sample of insured drivers and recorded, X, the number of claims each made in the last 3
years, with the following results.
X f
1 14
2 18
3 12
4 5
5 1

1. Referring to Scenario 2-1, how many drivers are represented in the sample?
a) 5
b) 15
c) 18
d) 50

ANSWER:
d
TYPE: MC DIFFICULTY: Easy
KEYWORDS: frequency distribution

2. Referring to Scenario 2-1, how many total claims are represented in the sample?
a) 15
b) 50
c) 111

, d) 250

ANSWER:
c
TYPE: MC DIFFICULTY: Moderate
KEYWORDS: interpretation, frequency distribution

3. A type of vertical bar chart in which the categories are plotted in the descending rank order of the
magnitude of their frequencies is called a
a) contingency table.
b) Pareto chart.
c) stem-and-leaf display.
d) pie chart.

ANSWER:
b
TYPE: MC DIFFICULTY: Easy
KEYWORDS: Pareto chart
SCENARIO 2-2

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