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DIT 2010
Business Statistics
Prof. MW Varano
Problem Set/ Study Guide #1
Spring 2009
Due:
TBA
Notes:
(1)
The purpose of this short problem set is to verify that the student has a basic understanding of
descriptive statistics, and basic probability.
(2)
This problem set may be done individually or in groups of up to three students.
If you
complete it as a group, handin a single problem set containing the names of the group
members.
Your choice of approach (individually or in a group) for this problem set does NOT
commit you to use the same approach for future problem sets.
(3)
The Empirical Rule, referenced in the text is appropriate when the data follow a normal or bell
shaped distribution.
Otherwise, it shouldn't be used…we established another rule….yes, that
was a hint!)
(4)
Software, especially Excel, is of course useful in calculating descriptive statistics.
You may
use software to solve these problems, but this is not meant to be a computer exercise.
I've
deliberately chosen problems with very small data sets so that it's fairly easy to work problems
out by "pencil and paper," which allows you to see exactly how the calculations are done.
Computers will be used more extensively as the size of the data sets grows and the calculations
become more complex!
If you do use software or a calculator function to solve a problem,
make a note of that on your solution.
(5)
Show all work necessary to obtain an answer.
Although it's not required to word
process the results, it is highly recommended, at the very least, please handin a neat
and well organized solution paper.
Problems: (NOTE: for multiple choice questions, CIRCLE the letter of your response
and WRITE that letter in the space provided.)
____ 1. Which of the following statistics is NOT a measure of central tendency?
(A) arithmetic mean
(B) median
(C) mode
(D) Q3
____2. Which of the arithmetic mean, median, mode, and geometric mean are resistant measures of
central tendency?
(A) the arithmetic mean and median only
(B) the median only
(C) the mode and geometric mean only
(D) the arithmetic mean and mode only
____3. In a rightskewed distribution,
(A) the median equals the arithmetic mean.
(B) the median is less than the arithmetic mean.
(C) the median is larger than the arithmetic mean.
(D) none of the above
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View Full Document ____4. Which descriptive summary measures are considered to be resistant statistics?
(A) the arithmetic mean and standard deviation
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This note was uploaded on 02/15/2011 for the course ECON 100 taught by Professor Mmm during the Spring '11 term at Allen University.
 Spring '11
 mmm

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