Mid-term Test Week 5 #MCQ1

Question 1

1/ A company has developed a new engine whose average lifetime is unknown. In order to estimate this average, 100 engines are randomly selected from a large production line and tested; their average lifetime is found to be 11 years. The 11 years represents a: #MCQ1

A. Sample.

B. Population.

C. Parameter
D. Statistic.

Answer 1

1/ A company has developed a new engine whose average lifetime is unknown. In order to estimate this average, 100 engines are randomly selected from a large production line and tested; their average lifetime is found to be 11 years. The 11 years represents a: #MCQ1

A. Sample.

B. Population.

C. Parameter
D. Statistic.

Question 2

2/ The classification of students grades (A, B, C, D and Fail) is an example of: #MCQ1

1. Nominal data
2. Numerical data
3. Ordinal data
4. None of the above

Answer 2

The classification of students grades (A, B, C, D and Fail) is an example of: #MCQ1

1. Nominal data
2. Numerical data
3. Ordinal data
4. None of the above

Question 3

3/ The classification of student major (accounting, economics, management, marketing, other) is an example of: #MCQ1

1. Nominal data.
2. Numerical data.
3. Ordinal data.
4. None of the above

Answer 3

3/ The classification of student major (accounting, economics, management, marketing, other) is an example of: #MCQ1

1. Nominal data.
2. Numerical data.
3. Ordinal data.
4. None of the above

Question 4

4/ The process of using sample statistics to draw conclusions about population parameters is called: #MCQ1

1. Finding the significance level.
2. Calculating descriptive statistics.
3. Calculating the confidence level.
4. Doing inferential statistics.

Answer 4

4/ The process of using sample statistics to draw conclusions about population parameters is called: #MCQ1

1. Finding the significance level.
2. Calculating descriptive statistics.
3. Calculating the confidence level.
4. Doing inferential statistics.

Question 5

6/ In a study of managers at a large firm, managers are categorized into three groups according to their division (field, production, or corporate). A simple random sample is taken from each group, and data are collected on each manager in the sample. This is an example of: #MCQ1

1. Simple random sampling.
2. Stratified random sampling.
3. Cluster sampling.
4. None of the above.

Answer 5

6/ In a study of managers at a large firm, managers are categorized into three groups according to their division (field, production, or corporate). A simple random sample is taken from each group, and data are collected on each manager in the sample. This is an example of: #MCQ1

1. Simple random sampling.
2. Stratified random sampling.
3. Cluster sampling.
4. None of the above.

Question 6

6/ Which of the following graphical display can be used to describe relationship between two categorical variables? #MCQ1

1. A histogram.
2. A scatter diagram.
3. A bar chart.
4. A pie chart.

Answer 6

6/ Which of the following graphical display can be used to describe relationship between two categorical variables? #MCQ1

1. A histogram.
2. A scatter diagram.
3. A bar chart.
4. A pie chart.

Question 7

Which of the following statements about pie charts is false?

1. Pie charts can only be used for nominal data.
2. Pie charts are usually used to display the relative sizes of categories for qualitative data.
3. Pie charts always have the shape of a circle.
4. The area of each slice of a pie chart is proportional to the relative frequency of the corresponding category.

Answer 7

Which of the following statements about pie charts is false?

1. Pie charts can only be used for nominal data.
2. Pie charts are usually used to display the relative sizes of categories for qualitative data.
3. Pie charts always have the shape of a circle.
4. The area of each slice of a pie chart is proportional to the relative frequency of the corresponding category.

Question 8

8/ Which of the following distributions is not symmetric? #MCQ1

Answer 8

Question 9

If the median of a distribution is less than the mean, then the distribution is: #MCQ1

A. Bell shaped.

B. Skewed to the left.

C. Symmetrical about its mean.

D. Skewed to the right.

Answer 9

If the median of a distribution is less than the mean, then the distribution is: #MCQ1

A. Bell shaped.

B. Skewed to the left.

C. Symmetrical about its mean.

D. Skewed to the right.

Question 10

10/ Which of the following summary measures is NOT affected by extreme values?

1. The median.
2. The range.
3. The mean.
4. Both the range and the mean.

Answer 10

10/ Which of the following summary measures is NOT affected by extreme values?

1. The median.
2. The range.
3. The mean.
4. Both the range and the mean.

Question 11

11/ The sum of the squared deviations from the sample mean of 16 observations is 60. Which of the following is the variance of the sample? #MCQ1

1. 2
2. 3.75
3. 4
4. None of the above

Answer 11

11/ The sum of the squared deviations from the sample mean of 16 observations is 60. Which of the following is the variance of the sample? #MCQ1

1. 2
2. 3.75
3. 4
4. None of the above

Question 12

12/ The price–earnings ratios of a sample of stocks have a mean value of 13.5 and a standard deviation of 2. If the ratios have a bell-shaped distribution, what proportion of ratios do you expect to fall between 9.5 and 17.5? #MCQ1

1. Approximately 68%
2. Approximately 95%.
3. At least 75%
4. None of the above

Answer 12

12/ The price–earnings ratios of a sample of stocks have a mean value of 13.5 and a standard deviation of 2. If the ratios have a bell-shaped distribution, what proportion of ratios do you expect to fall between 9.5 and 17.5? #MCQ1

1. Approximately 68%
2. Approximately 95%.
3. At least 75%
4. None of the above