Quiz 1 FA05 key

Quiz 1 FA05 key - symmetric b skewed right c skewed left...

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Name SSN ECON 2843 Fall 2005 Quiz 1 Students must show all work on problems that involve calculation, even if the question is multiple choice. Questions 1 through 4 refer to the following: A consumer group conducted a study regarding the number of hours of TV that teenagers watched per week. The results of the sample of fifty teenagers were as follows. Hours Relative per week frequency 0 – 5 18% 5 – 10 38% 10 – 15 24% 15 – 20 12% 20 – 25 8% 1. What is the mean "weekly hours of TV watched" for the sample? a. .38 b. 9.5 c. 10.2 * d. 12.5 e. 102 2. What is the standard deviation of the weekly hours of TV watched? 1

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3. If one of the sample observations is selected randomly, what is the probability that the teenager will watch more hours of TV than the median class ? 4. What is the cumulative relative frequency of the class 15 – 20 ? 5. The sample distribution appears to be a.
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Unformatted text preview: symmetric. b. skewed right. * c. skewed left. Questions 6 – 9 refer to the following. An office manager wrote down the number of cups of coffee that each employee in the office drank at work in one month. The results for this population are as follows: 30 , 18 , 0 , 0 , 25 , 35, 42, 10 6. What is the interquartile range? a. 4.5 b. 10.5 c. 17.5 d. 35 * e. 42 7. Calculate the coefficient of variation. a. 2% b. .6 c. .7 d. 73.7% * e. 78.8% 2 8. What is the range? a. 3.5 b. 18 c. 19 d. 40 e. 42 * 9. What is the variance? a. 14.74 b. 15.76 c. 217.25 * d. 248.29 e. 300 10. A family has spent \$10,000 to purchase some shares of stock to save for a daughter’s college education. They expect the stock’s annual rate of return to be about 7.5%. If this holds true, how many years will it take for the value of this investment grow to \$30,000? 15.19 years 3...
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