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Unformatted text preview: king Bloom's: Knowledge Difficulty: Medium Topic: Central Tendency 1-166 Chapter 01 - An Introduction to Business Statistics 3. The mode is the measurement in a sample or population that occurs most frequently. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Central Tendency 4. The population mean is the point estimate of the sample mean. FALSE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Central Tendency 5. The median is said to be resistant to extreme values. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Central Tendency 6. The range of the measurement is the largest measurement plus the small measurement. FALSE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Variability 1-167 Chapter 01 - An Introduction to Business Statistics 7. The population variance is the average of the squared deviations of the individual population measurements from the population mean. FALSE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Variability 8. In a symmetric population, the median equals the mode. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Central Tendency 9. It is appropriate to use the Empirical Rule to describe a population that is extremely skewed. FALSE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Empirical Rule 10. The median is the value below which and above which approximately 50 percent of the measurements lie. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Topic: Central Tendency 1-168 Chapter 01 - An Introduction to Business Statistics 11. An independent variable is a predictor variable that can be used to describe, predict, or control a dependent variable. TRUE AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Least Square Line 12. If there are 7 classes in a frequency distribution then the fourth class will always contain the median. FALSE AACSB: Reflective Thinking Bloom's: Synthesis Difficulty: Medium Topic: Central Tendency 13. Range is a better measure of variation than standard deviation. FALSE AACSB: Reflective Thinking Bloom's: Comprehension Difficulty: Medium Topic: Variability Multiple Choice Questions 14. A normal population has 99.73 percent of the population measurements within _____ standard deviations of the mean. A. One B. Two C. Three D. Four AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Empirical Rule 1-169 Chapter 01 - An Introduction to Business Statistics 15. A numeric characteristic of a sample is a A. Mean B. Variance C. Statistic D. Parameter AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Descriptive Statistics 16. All of the following are measures of central tendency except the A. Range B. Mode C. Mean D. Median AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Topic: Central Tendency 17. Which percentile describes the first quartile, Q1? A. 25th B. 50th C. 75th D. 100th AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Topic: Percentile 1-170 Chapter 01 - An Introduction to Business Statistics 18. Which percentile describes the third quartile, Q3? A. 25th B. 50th C. 75th D. 100th AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Topic: Percentile 19. In a given data set the 25th percentile is _______________ equal the lower hinge. A. Always B. Sometimes C. Never AACSB: Reflective Thinking Bloom's: Comprehension Difficulty: Hard Topic: Percentile 20. Which of the following is influenced the least by the occurrence of extreme values in a sample? A. Mean B. Median C. Mode D. Geometric mean E. Weighted mean AACSB: Reflective Thinking Bloom's: Comprehension Difficulty: Medium Topic: Central Tendency 1-171 Chapter 01 - An Introduction to Business Statistics 21. If a population distribution is skewed to the right, then, given a random sample from that population, one would expect that the A. median would be greater than the mean. B. mode would be equal to the mean. C. median would be less than the mean. D. median would be equal to the mean. AACSB: Reflective Thinking Bloom's: Comprehension Difficulty: Hard Topic: Central Tendency 22. If the mean, median, and mode for a given population all equal 25, then we Know that its distribution is A. Bimodal B. Skewed to the right C. Symmetric D. Skewed to the left AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Hard Topic: Central Tendency 23. If one intends to compare the relative variation between two samples involving two different quantitative variables with different measurement scales, then the most appropriate way is to compare the two samples: A. Standard deviations B. Variances C. Coefficient of variations D. Ranges E. Interquartile ranges AACSB: Reflective Thinking Bloom's: Comprehension Difficulty: Medium Topic: Variability 1-172 Chapter 01 - An Introduction to Business Statistics 24. A disadvantage of using grouping (a frequency ta...
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