Info
Warning
Danger

Study Resources (Statistics)

  1) If you are interested in comparing variation in sales for small and large stores selling similar goods, which of the following is the most appropriate measure of dispersion? A) the range B) the interquartile range C) the standard deviation D) the coefficient of variation 2) Suppose you are told that the mean of a.
20 Views
View Answer
206) What conclusions can you draw about the relationship between the size of the sales force and gross sales? 207) Calculate the correlation coefficient between the size of the sales force and gross sales. 208) Determine if there exists a relationship between the size of the sales force and gross sales. THE NEXT.
6 Views
View Answer
  Chapter 17   Additional Topics in Sampling   1) Which of the following sampling methods would be appropriate when the population can conveniently be subdivided into relatively small and geographically compact units? A) simple random sampling B) cluster sampling C) stratified sampling D) systematic sampling   2) A sales representative has 600 accounts. He wants to take a random.
13 Views
View Answer
68) Briefly describe what is meant by "two-phase sampling," and discuss its advantages and disadvantages.   69) A sales representative has 850 accounts. She is interested in determining the proportion of her accounts that have placed an order within the past month. For a standard deviation of 0.5, how large a sample.
8 Views
View Answer
239) What is the estimated mean number of students showing up for breakfast? 240) What is the estimated standard deviation for this data? THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A small accounting office is trying to determine its staffing needs for the coming tax season. The manager has collected the.
4 Views
View Answer
    71) The value of mean square displacement is: A) 4,657.48 B) 1,996.96 C) 7,546.48 D) 2,656.37 THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The table below shows the quarterly sales of a particular kind of vaccine for dogs. The forecaster uses autoregressive models with p = 3 to forecast the sales for future.
8 Views
View Answer
71) Describe two methods of nonprobabilistic sampling methods. Give an example for each. What are the advantages and disadvantages of each?   72) For a sample of 126 observations from a population of 873, the sample mean is 17.2 and the sample standard deviation is 2.4. Create a 99% confidence interval for.
5 Views
View Answer
  181) Percentiles separate large ordered data sets into tenths so that the fifth percentile is the median. 182) A graphical representation of the five-number summary is called a box-and-whisker plot. 183) A box-and-whisker plot provides information about the shape of the distribution and the spread of the data. 184) The measure that examines.
5 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The faculty advisor for the finance society at a local business school is interested in determining the proportion of finance students going on a field trip. The advisor samples some students from each class and computes the sample proportion for each class.   Class Total.
6 Views
View Answer
258) For the sample data shown below, compute the five-number summary, and sketch out the Box-and-Whisker plot.   34 76 29 59 71 43 24 92 82 79 49 62 34 92 87 23 64 37 54 27 THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider the following (x, y) sample data: (40, 13), (15, 33), (16, 42), (39, 9), (20, 38), (35, 15), (25, 21), (34, 17), (20, 24), and.
6 Views
View Answer
    41) An unbiased estimation procedure for the variance of the estimator of the overall population mean yields the point estimate = . 42) The use of proportional allocation in stratified sampling implies that the same number of elements is sampled in each stratum.   43) In cluster sampling, a complete census is.
5 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Chebyshev's theorem is used to approximate the proportion of observations for any data set, regardless of the shape of the distribution. Assume that a distribution has a mean of 255 and standard deviation of 20.   223) Approximately what proportion of the observations is.
3 Views
View Answer
  91) The measures that indicate the location or positions of a value relative to the entire set of data are called the: A) mean and median. B) mode and geometric mean. C) percentiles and quartiles. D) standard deviation. 92) Percentiles and Quartiles are generally used to describe which data sets? A) small B) evenly distributed C) medium D) large 93).
7 Views
View Answer
  101) According to Chebyshev's Theorem, what percent of the observations lie within ±2.25 standard deviations of the mean? A) at least 80.25% B) at least 75.25% C) at least 55.56% D) at least 95.25% 102) The sample covariance must take a value between -1 and +1 inclusive. 103) The sample covariance may never be negative. 104) The.
5 Views
View Answer
60) Explain in detail what is meant by "cluster sampling has a superficial resemblance to stratified sampling."   61) A sales representative has 798 accounts. She wants to take a random sample to determine the mean amount of yearly sales for these accounts. From past research, she knows that the population standard.
8 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The U.S. Senate has 100 members. 62 senators' offices obtained certain information from the individuals responsible for managing correspondence. Of these, 40 specified a minimum number of letters that must be received on an issue before a form letter in response is.
6 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider the following (x, y) sample data: (24, 24), (19, 33), (21, 31), (10, 36), (22, 30), (13, 36), (21, 32), (23, 26), (20, 26), and (21, 31). 286) Calculate the variances and and the covariance sxy. 287) Compute and interpret the sample correlation.
5 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The mean household income, in dollars, must be estimated for a town that is divided into three districts. The relevant information is shown in the table.   District Population Size Estimated Standard Deviation 1 1280 4210 2 2240 6315 3 1050 8420   A 95% confidence interval for the population mean that extends $550 on each.
5 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: In a stratified random sample of students on a small campus, sample members were asked to rate, on a scale of 1 (poor) to 5 (excellent), opportunities for extracurricular activities.  The results are shown in the table below.     Freshmen and Sophomores Juniors and Seniors Ni 758 635 ni 60 60 i 3.74 4.04 si 1.05 0.85   95).
5 Views
View Answer
    21) Estimate the mean monthly expenditures. A) 78.26 B) 73.74 C) 59.82 D) 64.67   22) Find a 98% confidence interval for the mean monthly expenditures. A) 64.67 ± 5.285 B) 64.67 ± 3.278 C) 64.67 ± 7.875 D) 64.67 ± 4.326 23) Estimate the total expenditures for the population. A) 22,678.63 B) 13,128.01 C) 26,288.34 D) 18,944.58   24) Find a 98% confidence interval for the.
5 Views
View Answer
  151) The interquartile range measures the spread of the middle 50% of the data. 152) Chebyshev's Theorem says that within two standard deviations of the mean, you will always find at least 88.9% of the data. 153) The standard deviation, as a measure of variation (dispersion), can be understood by examining two.
5 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: An auditor, examining a total of 800 accounts receivable by a corporation, selected a random sample of 60 accounts. The sample mean is $130.54 and the sample standard deviation is $42.56.   81) Using an unbiased estimation procedure, find an estimate of the variance.
5 Views
View Answer
  111) One possible source of skewness is the presence of outliers, and sometimes skewness is simply inherent in the distribution. 112) Although the range measures the total spread of the data, the interquartile range (IQR) measures only the spread of the middle 50% of the data. 113) In a negatively skewed distribution,.
5 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The following numbers represent the distance, in miles, that randomly selected ten employees of a firm must travel each way to work from home: 6.5, 14.8, 18.6, 6.5, 17.4, 12.3, 1.9, 12.9, 11.1, and 8.0.   230) Calculate the mean number of miles driven.
5 Views
View Answer
210) What conclusions can you draw about the relationship between ice cream sales and daily temperature? 211) Calculate the correlation coefficient between ice cream sales and temperature. 212) Determine if there exists a relationship between ice cream sales and temperature. THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A set of data is.
5 Views
View Answer
    51) In many practical applications, nonprobabilistic methods are used for selecting sample members, primarily as a matter of convenience. 52) A stratified sampling technique is used when the population can conveniently be subdivided into relatively small and geographically compact units.   53) The drawback of quota sampling is that, since the sample is.
4 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The faculty advisor for the marketing society at a local business school is interested in determining the monthly expenditures on entertainment for marketing students. The advisor samples some students from each class and computes the sample mean and standard deviation for each.
5 Views
View Answer
236) What is the estimated mean amount of time spent by these executives in community service? 237) What is the estimated standard deviation for this data? Course LO:  Identify and apply formulas for calculating descriptive statistics THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The number of students eating breakfast at the school.
6 Views
View Answer
215) Approximately what proportion of the observations is greater than 572? 216) Approximately what proportion of the observations is between 452 and 548? 217) Approximately what proportion of the observations is between 428 and 572? 218) Approximately what proportion of the observations is between 476 and 524?     .
5 Views
View Answer
    11) Estimate the total amount of sales for the sales representative. A) $297,500 B) $750,000 C) $375,640 D) $531,250   12) Find a 90% confidence interval for the total amount of sales for the sales representative. A) $531,250 ± 5,861.93 B) $87,500 ± $3,651.51 C) $75,000 ± $2,840.11 D) $29,750 ± $4,115.33   13) Estimate the proportion of all accounts that placed.
5 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A chemistry class at a university in the Midwest has 450 students. The final examination is optional — it can raise, but not lower, a student's grade. Of a random sample of 100 students, 40 indicated that they would take the final.
6 Views
View Answer
THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Some people would argue that the trend of consumers toward purchasing large sport utility vehicles (SUVs) has been detrimental to the environment. The following data show the vehicle weight X, measured in tons, and the corresponding fuel efficiency Y, measured by the.
4 Views
View Answer