The weights (in kilograms) of a group of crates being shipped to Panama are 95, 103, 110, 104, 105, 112 and 92. What is the mean deviation?
A. 52.50 kg
B. 5.43 kg
C. 0.53 kg
D. None of these answers
E. 6.25 kg
A distribution has a mean of 7 and a range of -100 to +50. The distribution is ________.
A. incomplete
B. right skewed
C. defective
D. left skewed
The distribution of a sample of the outside diameters of PVC gas pipes approximates a symmetrical, bell-shaped distribution. The mean outside diameter of the sample is 14.0 inches, and the standard deviation is
0.1 inches. About 68 percent of the outside diameters lie between what two amounts?
A. 13.9 and 14.1 inches
B. 13.8 and 14.2 inches
C. 13.0 and 15.0 inches
D. None of these answers
E. 13.5 and 14.5 inches
You borrow $100,000 at a mortgage rate of 8% per year. What's the annual payment you must make to repay the loan in 25 years?
A. $8,349
B. $5,982
C. $9,368
D. $7,493
What are half of the observations always greater than?
A. Median
B. Geometric mean
C. None of these answers
D. Mode
E. Mean
________ states the range over which a population parameter likely lies.
A. A point estimate
B. A normal deviate
C. A confidence interval
D. A stratified range estimate
In graphs of return performance, which of the following scales is commonly used?
A. Exponential scale.
B. Semi-logarithmic scale.
C. Arithmetic scale.
D. Log-normal scale.
A researcher has a sample of 900 observations from a population whose standard deviation is known to be 3,381. The mean of the sample is calculated to be 465.2. The null hypothesis is stated as Ho: mean < 200. The p-value in this case equals ________.
A. 1.54%
B. 2.26%
C. 1.13%
D. 0.94%
According to Chebyshev's Theorem, what percent of the observations lie within plus and minus 1.75 standard deviations of the mean?
A. Cannot compute because it depends on the shape of the distribution
B. 56%
C. 95%
D. 67%
E. None of these answers
Which of the following is/are true?
I. The mean of a sample represents its average value.
II. The median can only be calculated if the sample contains an odd number of values.
III. The mode is not affected by extreme outliers in the data.
IV.
For samples with an even number of data points, the mode is preferable to the median as a measure of central tendency.
A.
III only
B.
IV only
C.
II only
D.
I only
E.
I and II
F.
I, III and IV
G.
II and III
H.
I and III
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