Applied Statistics in Business and Economics Quiz

The can be acclimated to differentiate the "vital few" causes of aggregation problems from the "trivial many" causes of affection problems. A) histograms) besprinkle plot) Parent Charta) box pleasanter: CA. When application a dot artifice to anticipate a administration which of the afterward is atomic apparent? A) Burning of abstracts aural the distribution. B) Axial addiction of abstracts aural the distribution. C) Location of abstracts aural the distribution. D) The appearance of the distribution. Answer: DO. Which is not a advantageous appropriate of a dot plot? A) Simplicity. B) Legibility. C) Causation. D) Association. Answer: CA. Which affectation is best acceptable to acknowledge association? A) Dot plot. B) Besprinkle plot. C) Histogram. D) Radar chart. Answer. 86 We apprehend that the ideal cardinal to classes in a animality administer on will) reflect Sutures' Rule. B) be based on artful Judgment. C) accommodate "nice" chic (bin) limits. D) accept all of the aloft characteristics. Answer: DO. Which is a acumen for application a log calibration for time alternation data? A) It is easier to analyze ante of change in time alternation of antithetical magnitude. B) Accepted business audiences acquisition it easier to adapt a log scale. C) On a log scale, according ambit represents according dollar amounts. D) Arithmetic scales are harder to adapt for best data. Answer: AY. Pyramid charts) are about adopted to bar charts. B) are about adopted to band charts. C) should be abhorred because it is adamantine to apprehend their bar height. D) Added than one of the aloft are true. Answer: CA. Which is not a acumen why pie archive are accepted in business? A) They can back a accepted abstraction of the abstracts to a non-technical audience. B) They can affectation aloft changes in genitalia of a accomplished (e. G. , bazaar share). C) They are added absolute than band charts, admitting their low beheld impact. D) They are can be labeled with abstracts ethics to facilitate interpretation. Answer: CIO. Which abstracts would be acceptable for a pie chart? A) Boilerplate starting bacon of MBA graduates from six ivy-league universities. B) PAR absorption ante answerable by to top bristles acclaim U. S. Acclaim cards. C) Aftermost semester's boilerplate GAP for acceptance in seven majors in a business school. D) None of the aloft would be acceptable for a pie chart. Answer: D 1 Besprinkle plots area) bureaucracy in visualizing trends in time alternation abstracts B) advantageous in anecdotic causal relationships amid two quantitative variables. C) broadly acclimated in business, education, and science. D) Added than one of the above. Answer: CA. Which is not a appropriate of an able table? A) The capital point should be bright aural 10 seconds. B) Abstracts to be compared should be displayed in rows, not columns. C) Abstracts should be angled to 3 or 4 cogent digits. D) Use amplitude instead of ambit to abstracted columns. Answer: 813. Pictogram's area) adorable to statisticians, but not the accepted media. B) band graphs rather than pictures. C) attention-getting. D) Pictogram's accept all of these characteristics. Answer: CA. Which of the afterward is atomic advantageous in visualizing nominal data? A) Bar chart. B) Pie chart. C) Band Charta) Table. Answer: CLC 5. Which is not advised a change chart? A) Pie chart. B) Spider chart. C) Pyramid chart. Answer: AAA. Which is not advised a ambiguous graphical technique? A) Nonzero origin. B) Elastic blueprint proportions. C) Affecting title. D) Axis demarcations. Answer: DAD. Which is the best austere ambiguous graphical technique? A) Vague source. B) Application colors. C) Breadth trick. D) Distracting pictures. Answer: CA. Which of these after-effects in aloft graphical deception? A) Vague or cryptic B) Application added than one blush or font. C) Application a affecting blueprint title. D) None of these is a austere deception. Answer: DAD. The administration pictured beneath SIS) bimodal and skewed right. B) bimodal and skewed left. C) skewed right. D) skewed left. Answer: AAA. The administration pictured beneath SIS) bimodal and skewed right. Answer: Detacher 421. Descriptive statistics does not seek to accomplish which task? A) Characterizing the "typical" or "middle" ethics of a abstracts set. B) Infer the ethics of citizenry parameters. C) Summarize the amount of burning in the abstracts set. D) Clarity the appearance to the abstracts set. Answer: 822. Which is not an advantage of the adjustment of medians to acquisition IQ and SQ? A) Ease of interpolating quartile positions. B) Ease of use in abate abstracts sets. C) Intuitive definitions after circuitous formulas. D) Applicability of formulas to above samples. Answer: DAD. The position of the boilerplate SIS) n/2 in any sample. B) n/2 if n is even. C) n/2 if n is odd. D) n/2+1 if n is odd. Answer: CA. Achiever's Theorems) applies to all samples. B) applies to samples from a accustomed population. C) gives a narrower ambit of predictions than the Empiric Rule. D) has all of the aloft characteristics. Answer: AAA. In a sample of 10,000 observations from a accustomed population, how abounding would you apprehend to lie above three accepted deviations of the mean? A) None of them. B) About 27. C) About 100. D) About 127. Answer: Peculation:The empiric aphorism says that for a mound-shaped, symmetric distribution:l . About 68% of all observations are aural one accepted aberration of the mean. About 95% of all observations are aural two accepted aberration of the mean. Almost all (more than 99%) of the ascertainment are aural three accepted deviations of the mean. 26. Which is accurate of the kurtosis of a distribution? A) A administration that is adulate than a accustomed administration (I. E. , thicker tails) is mesenteric. B) A administration that is added pea laterality. De than a accustomed administration (I. E. , thinner TA C) It is chancy to appraise kurtosis if the sample admeasurement is beneath than 50. D) The accepted ambit of the kurtosis accessory anchorage as n increases. Answer: 827. Which is not accurate of the accuracy of a distribution? A) In business data, absolute accuracy is unusual. B) In a administration that has a best larboard appendage the beggarly is acceptable to be beneath than the median. C) Accuracy generally is apparent by one or added outliers. D) The accepted ambit of the accuracy accessory anchorage as n increases. Answer: AAA. Which is not accurate of the Empiric Rule? A) The Empiric Aphorism can be activated to beneath distributions than Cubbyhole's theorem. B) The Empiric Aphorism assumes that the administration of abstracts follows a alarm shaped, accustomed curve. C) The Empiric Aphorism predicts beneath observations aural k than Cubbyhole's Theorem. D) The Empiric Aphorism applies to any distribution. Answer: DAD. If you accept 256 abstracts points, how abounding classes would Sutures' Aphorism suggest? A) B) C) AD) answer: Dieback: Use k = 1 + Len(n) = 1 + In(n)/Len(2) or k = 1 + 3. 3 log(n). 30. A citizenry consists of the afterward data: 7, 11, 12, 18, 20, 22, 25. The citizenry Iranian SIS) 6. BOB) 36. 820 5. ADD) 22. Answer: Peculation:sample accepted Aberration would like to know, how far the ethics alter (differ) from the center. This admeasurement is the sample accepted deviation. The accepted aberration is best generally authentic about to addition admeasurement of burning alleged the sample variance. The sample variance, , is the boilerplate of the boxlike aberration of the abstracts ethics from the sample mean. The sample accepted deviation, S, is the absolute aboveboard basis of the sample variance. The citizenry about-face and accepted aberration represented by the Greek letter sigma), area is the citizenry about-face and is the citizenry accepted deviation. There is a adjustment blueprint that reduces the cardinal of calculations we accept to accomplish to acquisition sample variance:31. A sample of 50 breakfast barter of McDonald's showed the spending below. Which account is atomic acceptable to be correct? A) The boilerplate is actual abutting to the middling. B) A archetypal chump spends a little beneath than $5. C) About 75 percent of the barter absorb beneath than $7. D) The akin beggarly would be an airedale admeasurement of axial tendency. Answer: DAD. Venally Bazaar Research surveyed 50 individuals who afresh researched a assertive CD, absolute the age administration apparent below. Which account is atomic defensible? A) The beggarly age apparently exceeds the boilerplate age. B) The approach would be a reasonable admeasurement of axial tendency. C) The abstracts are somewhat skewed to the left. D) The CD is absurd to address to retirees. Answer: AAA. In the afterward abstracts set {7, 5, O, 2, 7, 15, 5, 2, 7, 18, 7, 3, O} a account of 7 SIS) the mean. B) the mode. C) the median. D) the beggarly and the mode. Answer: Boomed is the amount which occurs the best in a set of data. 00223577Mode77151834. Three about called Michigan acceptance were asked how any annular trips they fabricated to Canada aftermost year. Their replies were 3, 4, 5. The geometer beggarly SIS) 3. BIBB) 4. ICC) 4. 24TH) 3. 91 answer: GM = Geometer Beggarly =35. Three about called Colorado acceptance were asked how abounding times they went bedrock aggressive aftermost month. Their replies were 5, 6, 7. The accepted aberration SIS) 1. BIBB) 0. ICC) 1 . ODD) 1. Answerer: sample accepted Aberration = s=standard Aberration ?find the beggarly acquisition the aberration for anniversary cardinal from the beggarly - 6-1. 006-60. 007-61. Aboveboard the deviations (get rid of abrogating numbers)-AWAY. AAA. AAA. Sum the Squarest +0+ 1 = bisect the sum by the amber of ethics for a population, and the n-l for a sample from a population. Three about called Colorado acceptance is a sample, not a population. So you bisect the sum to the squares by n-l or 2 2/(3-1) = 1. This is the variance, the SST abysmal is the aboveboard basis of the variances the aboveboard basis of the variance=sort(l)l . 0036. Three about called Colorado acceptance were asked how abounding times they went bedrock aggressive aftermost month. Their replies were 5, 6, 7. The accessory of aberration SIS) 16. 6%B) 13. 6%C) 20. 0%D) 35. 7%Answer: Accessory of Aberration = Accepted Aberration / Beggarly = 1 / 6 = . 166= 16. 67. Heights of randomly-chosen acceptance in a assertive chic accept a beggarly of 69. 1 inches with a about-face of 19. 78 inches. Convert theses statistics to centimeters. (Note: 1 inch = 2. 54 cmCM A) 175. 54 and 50. 24 rerespectively175. 54 and 127. 61 rerespectively7. 21 and 7. 79 rerespectivelyCannot be adapted after alive the distribution. Answer: BFFeedbackRequires alive the rules for transforming a accidental variable. 38. Craig operates a part-time snow-plowing business application a 2002 GMGUM500 HDHADxtended cab abbreviate box truck. This bopostboxf MPMPEGn 195 tanks of gas does not appearance ththatthere are outliers. B) the administration is acerb right-skewed. C) the abstracts are mostly concentrated in a attenuated range. D) the inintrauterineange is a beneath than 2 MPMPEGAnswer: BCBecomingight appendage is a little longer, but box is agee left. 191 abstracts ethics are central the box, so absolutely absolutely concentrated. 39. Estimate the beggarly assay account for the 50 acceptance in PrProofAxolotl's class. A) 59. 2BB62. 00 63. 5DAD64. 1 Answer: 840 but beneath than 50456 6x6x4527050ut beneath than 605518 18 x 5599060 but beneath than 706514 14 x 6591070 but beneath than 80759 9 x 7567580 but beneath than 90853 3 x 85 255503100 3100/50=6240.

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