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PracticeQuestions1 - Practice Questions 1 ECO 329 1. When...

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Practice Questions 1 ECO 329 1. When data are collected in a statistical study for only a portion or subset of all elements of interest we are using A) a sample. B) A parameter. C) A statistic. D) A population. 2. A summary measure that is computed from a sample to describe a characteristic of the population is called A) a parameter. B) a statistic. C) a population. D) inferential statistics. 3. A summary measure that is computed from a population is called A) a parameter B) a statistic C) a population D) inferential statistics 4. Consider the following frequency distributions generated by Excel. What is the missing cumulative % value identified by asterisk? A) 60.00% B) 5.00% C) 100% D) 90% 5. Consider the following frequency distribution generated by Excel. What is the missing frequency value identified by asterisk? Bin Frequency Cumulative % 584 1 4.00% 1774.4 * 64.00% 2964.8 4 80.00% 4155.2 3 92.00% 5345.6 1 96.00% More 1 100.00% Bin Frequency Cumulative % 12.8 1 5.00% 41.6 5 30.00% 70.4 6 60.00% 99.2 6 * More 2 100.00%
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A) 3 B) 15 C) 16 D) 25 6. The data presented below were collected on the amount of time it takes, in hours an employee, to process an order at a local plumbing wholesaler. 2.8 4.9 0.5 13.2 14.2 8.9 3.7 15.2 11.2 13.4 5.5 10.2 1.1 14.2 7.8 4.5 10.9 8.8 18.2 17.1 a. Construct a frequency distribution of the data. b. Construct cumulative frequency and cumulative percentage distributions of the data. c. Use your answer to part a to construct an appropriate histogram of the data. d. Determine the percentage of time it takes an employee at most 12.5 hours to process an order at the plumbing wholesaler. 7. Percentage returns for the 25 largest U.S. common stock mutual funds for a particular day are displayed below. 24.3 13.6 19.7 25.0 31.0 21.8 24.9 31.5 20.2 25.9 33.2 28.3 20.6 39.8 30.6 19.0 20.6 37.1 24.8 29.9 31.1 32.6 49.9 31.1 38.3 a. Construct a histogram to describe the data. b. Construct an ogive to describe the data. 8. For the following scatter plot, what would be your best estimate of the correlation coefficient? 0 10 20 30 40 50 10 15 20 25 30 35 40 45
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A) -0.8 B) -1.0 C) -0.3 D) 0.0 9. Which of the following descriptive statistics is least affected by outliers? A) Mean B) Median C) Range D) Standard deviation 10. Suppose you are told that the mean sample of numbers is below the median. This information suggests which of the following? A)
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This note was uploaded on 04/14/2008 for the course ECON 329 taught by Professor Yilmaz during the Spring '08 term at University of Texas.

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PracticeQuestions1 - Practice Questions 1 ECO 329 1. When...

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