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Straighterline Business Stats Exam/104 Questions with Answers
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Straighterline Business Stats Exam/104 Questions with Answers
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Straighterline Business StatsExam/104 Questions with Answers
A marketing class of 50 students evaluated the instructor using the following
scale: superior, good, average, poor, and inferior. The descriptive summary
showed the following survey results: 2% superior, 8% good, 45% average,
45% poor, and 0% inferior. - - Most students rated the instructor as poor or
average.
- The general process of gathering, organizing, summarizing, analyzing, and
interpreting data is called ____________. - - Statistics
- The main purpose of descriptive statistics is to: - - Summarize data in a
useful and informative manner.
- An example of a qualitative variable is _________________. - - Color of ink in
a pen
- The reported unemployment is 5.5% of the population. What measurement
scale is used to measure unemployment? - - interval or ratio
- What level of measurement is the Centigrade temperature scale? - -
interval
- A group of women tried five brands of fingernail polish and ranked them
according to preference. What level of measurement is this? - - ordinal
- The incomes of 50 loan applicants are obtained. Which level of
measurement is income? - - ratio
- The members of each basketball team wear numbers on their jerseys.
What scale of measurement are these numbers considered? - - nominal
- Respondents were asked, "Do you now earn more than or less than you did
five years ago?" What is this level of measurement? - - ordinal
- What type of variable is the number of gallons of gasoline pumped by a
filling station during a day? - - Continuous
- A portion or part of a population is called a - - sample
- The mean, as a measure of central location, would be inappropriate for
which one of the following? - - Marital status of college students at a
particular university
, - A bottling company offers three kinds of delivery service: instant, same
day, and within five days. The profit per delivery varies according to the kind
of delivery. The profit for an instant delivery is less than the other kinds
because the driver has to go directly to a grocery store with a small load and
return to the bottling plant. To find out what effect each type of delivery has
on the profit picture, the company summarized the data in the following
table based on deliveries for the previous quarter.
What is the weighted mean profit per delivery? - - $97
- The times (in minutes) that several underwriters took to review
applications for similar insurance coverage are 50, 230, 52, and 57. What is
the median length of time required to review an application? - - 54.4
- A survey item asked students to indicate their class in college: freshman,
sophomore, junior, or senior. Which measure(s) of central location would be
appropriate for the data generated by that questionnaire item? - - mode and
median
- On a finance exam, 15 accounting majors had an average grade of 90. On
the same exam, 7 marketing majors averaged 85, and 10 finance majors
averaged 93. What is the weighted mean for all 32 students taking the
exam? - - 89.84
- For a data set with an odd number of observations that have been sorted
from smallest to largest values, where is the median located? - - (n + 1)/2
- Assume a student received the following grades for the semester: History,
B; Statistics, A; Spanish, C; and English, C. History and English are 5 credit-
hour courses, Statistics a 4 credit-hour course, and Spanish a 3 credit-hour
course. If 4 grade points are assigned for an A, 3 for a B, and 2 for a C, what
is the weighted mean grade for the semester? - - 2.76
- The monthly amounts spent for food by families of four receiving food
stamps approximates a symmetrical, normal distribution. The sample mean
is $150 and the standard deviation is $20. Using the Empirical Rule, about
95% of the monthly food expenditures are between what two amounts? - -
$110 and $190
- What is the relationship between the variance and the standard deviation?
- - Variance is the square of the standard deviation.
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