Statistics Quiz Practice Exam!

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Statistics Quiz Practice Exam! - Quiz

Do you know anything about statistics, and would you be interested in taking this quiz? Statistics is a discipline that entails the collection, examination, clarification, and presentation of information. Statistics deal with every piece of data, including collecting data in terms of the design of surveys and experiments. Some believe that statistics is more of mathematical science, as opposed to mathematics. If you intend to learn more about statistics, look no further than this quiz.


Questions and Answers
  • 1. 

    1.       Consider the following bar chart of Baskepoints sources.    Three of the following statements are correct, one is NOT. Which of the following statements is incorrect?

    • A.

      More points are scored in the 3-pt line than steals.

    • B.

      About 70% of the points come from Free throws and 2-point shots.

    • C.

      Most points come from the 2-point shots.

    • D.

      The distribution is skewed to the left.

    Correct Answer
    D. The distribution is skewed to the left.
    Explanation
    Bar graph does not have a shape or distribution because you can re-order the categories and the shape changes.

    Rate this question:

  • 2. 

    Consider the following 5-number summary of 120 NBA teams scores: Which of the following observations in the data set would be called a suspected outlier?

    • A.

      An observation between 85 and 100.

    • B.

      An observation less than 125.

    • C.

      An observation between 70 to 100.

    • D.

      An observation greater than 145

    • E.

      E. There are no suspected outliers in this data set.

    Correct Answer
    D. An observation greater than 145
    Explanation
    Upper Outlier=Q3+1.5(Q3-Q1)=100+1.5(100-70)= 145
    Lower Outlier=Q1-1.5(Q3-Q1)=100-1.5(100-70)=25

    Rate this question:

  • 3. 

    Here are the boxplots of Stats221 Final scores for Provo and Salt Lake Campus: T F Both distributions are skewed to the left.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The "lines" determine the skewness. Since the left lines are longer for Provo and SLC, then they are both left-skewed.

    Rate this question:

  • 4. 

    Here are the boxplots of Stats221 Final scores for Provo and Salt Lake Campus: 1.       T F Fifty percent of the SLC students scored approximately between 65 and 85.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    50% of the data are between Q1 to Q3.

    Rate this question:

  • 5. 

    Here are the boxplots of Stats221 Final scores for Provo and Salt Lake Campus: 1.  T F Scores exhibit less spread for Provo than SLC.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Spread is measured by the IQR=Q3-Q1 or the length of the box. Since the length of the box for Provo and SLC are equal, therefore, they have the same spread.

    Rate this question:

  • 6. 

    Here are the boxplots of Stats221 Final scores for Provo and Salt Lake Campus: The interquartile range for SLC is about 20.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    IQR=Q3-Q1=85-65=20

    Rate this question:

  • 7. 

    Here are the boxplots of Stats221 Final scores for Provo and Salt Lake Campus:   The proportion of Provo scoring between 62 to 82 is greater than the proportion of SLC scoring between 65 to 85.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    The percentage of the data between Q1 to Q3 is always 50%. SO they are the same.

    Rate this question:

  • 8. 

    Here are the boxplots of Stats221 Final scores for Provo and Salt Lake Campus:   The mean is greater than the median for scores in Provo.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    SInce Provo is left-skewed, then the mean is less than than the median.

    Rate this question:

  • 9. 

    Here are the boxplots of Stats221 Final scores for Provo and Salt Lake Campus:   The proportion of SLC scoring below 85 is larger than the proportion of Provo scoring below 85.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    For SLC, 75% of the data falls below 85. However, for Provo, greater than 75% of the data falls below 85.

    Rate this question:

  • 10. 

    Which of the following graphical displays can be drawn using only the 5 number summary?

    • A.

      Scatterplot

    • B.

      Bar graph

    • C.

      Stemplot

    • D.

      Histogram

    • E.

      Boxplot

    Correct Answer
    E. Boxplot
    Explanation
    boxplot is created from the five-number summary .

    Rate this question:

  • 11. 

    Which one of the following is a FALSE statement about statistical problem solving?

    • A.

      Each step in statistical problem solving can be manipulated either innocently or deliberately to influence people’s opinion.

    • B.

      Determining what should be measured is an important part of question formulation.

    • C.

      Subjects should always be chosen without human subjectivity or bias.

    • D.

      Numbers should always be reported in context

    • E.

      Giving measure of confidence is not necessary when reporting results of statistical inference.

    Correct Answer
    E. Giving measure of confidence is not necessary when reporting results of statistical inference.
    Explanation
    Giving measure of confidence is necessary when reporting results of statistical inference.

    Rate this question:

  • 12. 

           What does the standard deviation of a distribution measure?

    • A.

      Shape

    • B.

      Spread

    • C.

      Center

    • D.

      Skewness

    Correct Answer
    B. Spread
    Explanation
    Standard deviation measures spread.

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  • 13. 

           Coach Sloan is testing a new method of shooting free throws and plans to randomly assign 20 players to the new method 25 players to the traditional method. The mean percentage of free throws will then be compared between these two groups. What type of study is this?

    • A.

      An observational study

    • B.

      A simple random sample

    • C.

      A matched pairs experiment.

    • D.

      A completely randomized experiment.

    • E.

      A randomized block experiment.

    Correct Answer
    D. A completely randomized experiment.
    Explanation
    It is a completely randomized experiment.when the subjects are randomly assigned to the treatments.
    It is a randomized block when the subjects are separated first by "gender" then each gender is assigned to the treatments.

    Rate this question:

  • 14. 

           A financial adviser told you that it is better to invest your money in the stock market than putting it in the bank.  Assume that the distribution of stock returns is normal with mean µ=10.05% and standard deviation, σ=12.12% per year.  Find the proportion of people who invested in the stock market that get less than 8% return on a typical year.

    • A.

      0.0668

    • B.

      0.3085

    • C.

      0.4325

    • D.

      0.6915

    • E.

      0.4984

    Correct Answer
    C. 0.4325
    Explanation
    z=(8-10.05)/12= -.17

    From the Normal Table, the probability to the left of the z-score is 0.4325

    Rate this question:

  • 15. 

           A researcher wants to know the average dating expenses for BYU single students.  The researcher obtained a list of single students from the Records Office who live in the BYU dorms.  From this list , 50 students are randomly selected.  The 50 students are contacted by phone and the amount they spent on dates are recorded.  The average dating expense of the 50 students is $35 with a standard deviation of $8. A critic of the research project argued that the results lack believability because some single students do not live in BYU dorms.  This critic is arguing that the study suffers from

    • A.

      Response bias due to question wording.

    • B.

      Response bias due to interviewer effect.

    • C.

      Under-coverage.

    • D.

      Non-response bias.

    Correct Answer
    C. Under-coverage.
    Explanation
    Under-coverage occurs when some members of the population cannot be selected as part of the sample.
    Non-response is when the survey is not returned.

    Rate this question:

  • 16. 

    1. Which of the following constitutes  a multistage sample 28 elementary school students in the Provo school district?

    • A.

      Obtain a list of all elementary school students in the Provo school district area; assign consecutive numbers to the students on the list; use a random number table to select 28 students from the list.

    • B.

      Obtain a list of all elementary school students from each of the 14 elementary schools in the Provo district; use a random number table to select 2 students from each school.

    • C.

      Randomly select 4 elementary schools in the Provo district; from each of the selected schools randomly select one grade class; from each of the selected classes randomly select 7 students.

    • D.

      Randomly select 4 schools in the Provo district, from each of the selected schools randomly select one grade class; from each of the selected classes randomly select 7 students.

    Correct Answer
    C. Randomly select 4 elementary schools in the Provo district; from each of the selected schools randomly select one grade class; from each of the selected classes randomly select 7 students.
    Explanation
    Multi-staged is randomly select from groups, then do SRS to each group selected.
    Stratified is to do SRS for every group.

    Rate this question:

  • 17. 

           The mean points of NBA players is 20 points a game with a standard deviation of 5.  The mean points for the PBA (Philippine Basketball Association) is 30 with a standard deviation of 10.  Wesley scores 22 points a game for the NBA while Doria scores 31 points a game for the PBA.  Who has scores the highest in their league?

    • A.

      Wesley

    • B.

      Doria

    • C.

      They have equal scores

    • D.

      Cannot be determined from given information.

    Correct Answer
    A. Wesley
    Explanation
    Wesley z=(22-20)/5=0.4
    Doria z=(31-30)/10= 0.1

    The higher the z-score the better the performance.

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  • 18. 

           When should we use a probability sample?

    • A.

      So the sample can be used to make inferences about the population.

    • B.

      Because it is more convenient to use than other types of samples.

    • C.

      So that bias will be eliminated completely from the sample.

    • D.

      So that the sample will perfectly represent the population.

    • E.

      So that sampling variability will be removed.

    Correct Answer
    A. So the sample can be used to make inferences about the population.
    Explanation
    We use probability sample (SRS, Stratified, Multi-staged) so the sample can be used to make inferences about the population.

    Rate this question:

  • 19. 

           A researcher wants to know whether clean air filter improves gas mileage.  10 vehicles were randomly selected.  For each vehicle, a coin is tossed.  If it is heads, a clean air filter is installed first in the vehicle and the average mileage is computed. After the testing, a dirty air filter is installed and the average mileage is computed.  If it is tails, then a dirty air filter is installed first and then a clean air filter is installed next.  This study is an example of

    • A.

      A completely randomized experiment

    • B.

      A randomized block experiment

    • C.

      A matched pairs experiment

    • D.

      An observational study

    • E.

      A multi-stage sample

    Correct Answer
    C. A matched pairs experiment
    Explanation
    Matched-pairs is when each subject gets both treatments.

    Rate this question:

  • 20. 

           After a Church game, Jeremiah scored 40 points.  His coach, who is a Statistics teacher, told him that the standardized score (z-score) for his points on the game, is 2.5.  What is the best interpretation of this standardized score?

    • A.

      Jeremiah’s score is only 2.5

    • B.

      Only 2.5% of the players scored higher than Jeremiah.

    • C.

      Jeremiah’s scoring is 2.5 times the average scoring in the league.

    • D.

      Jeremiah’s scoring is 2.5 standard deviations above the average scoring in the league.

    • E.

      Jeremiah’s scoring is 2.5 points above the average scoring in the league.

    Correct Answer
    D. Jeremiah’s scoring is 2.5 standard deviations above the average scoring in the league.
    Explanation
    z-scores implies the number of standard deviations a particular data is above or below the mean.

    Rate this question:

  • 21. 

    Coach Sloan is wants to know how different feet positions affect shooting field goal percentage.  He randomly assigns 30 players to 3 different feet positions. He compares the field goal percentages among the three groups. This study is an example of

    • A.

      A completely randomized experiment

    • B.

      A randomized block experiment

    • C.

      A matched pairs experiment

    • D.

      An observational study

    • E.

      A multi-stage sample

    Correct Answer
    A. A completely randomized experiment
    Explanation
    It is a completely randomized experiment.when the subjects are randomly assigned to the treatments.
    It is a randomized block when the subjects are separated first by "gender" then each gender is assigned to the treatments.

    Rate this question:

  • 22. 

       A study was conducted using growing rats to examine the effect of jumping height on the strength of bones.  Thirty rats were randomly allocated into groups.  The first group of rats did low jumps of 30 cm. And the second group of rats did high jumps of 60 cm.  After 8 weeks of 10 jumps per day, 5 days per week, the bone density of the rats was measured in mg/cm3.  What is the explanatory variable? 

    • A.

      Growing rats

    • B.

      Height of jump

    • C.

      Bone density as measured in mg/cubic cm.

    • D.

      Age of rat.

    Correct Answer
    B. Height of jump
    Explanation
    The study is the "effect of jumping height on the strength of bones" The explanatory is the jumping heights and the response is strength of bones measures as bone density.

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  • 23. 

    Refer to the histogram below.  It is a frequency histogram of Religiosity among 226 randomly selected college students. Which of the following is the most reasonable value for the median of the distribution?

    • A.

      28

    • B.

      44

    • C.

      53

    • D.

      56

    • E.

      60

    Correct Answer
    C. 53
    Explanation
    The median is the middle data. There are 226 data, therefore the middle data is 226/2=113th and 114th.

    By reading the frequency we can see that the 113th and the 114th data are in the "50-54" bar.

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  • 24. 

    Refer to the histogram below.  It is a frequency histogram of Religiosity among 226 randomly selected college students. What is the rough estimate of the standard deviation of the above histogram?

    • A.

      1

    • B.

      3

    • C.

      5

    • D.

      7

    • E.

      9

    Correct Answer
    D. 7
    Explanation
    estimate of standard deviation=range/6=(max-min)/6=(62-22)/6=6.7 or 7

    Rate this question:

  • 25. 

    Refer to the histogram below.  It is a frequency histogram of Religiosity among 226 randomly selected college students.   How does the mean and median compared for this distribution?

    • A.

      The mean is less than the median

    • B.

      The mean is equal to the median

    • C.

      The mean is greater than the median

    • D.

      Cannot be determined

    Correct Answer
    A. The mean is less than the median
    Explanation
    Since the histogram shows a left-skewed distribution then the mean is less than the median.

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  • 26. 

    Refer to the histogram below.  It is a frequency histogram of Religiosity among 226 randomly selected college students.    What is the appropriate measure of spread for the distribution of religiosity in the above problem?

    • A.

      Mean religiosity

    • B.

      Median religiosity

    • C.

      Standard deviation of religiosity

    • D.

      IQR of religiosity

    Correct Answer
    D. IQR of religiosity
    Explanation
    IQR is the appropriate measure of spread for skewed distribution.

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  • 27. 

    Refer to the histogram below.  It is a frequency histogram of Religiosity among 226 randomly selected college students. What is the most reasonable value for Q1, the first quartile, of the 226 religiosity values in the previous question?

    • A.

      28

    • B.

      44

    • C.

      53

    • D.

      56

    • E.

      60

    Correct Answer
    B. 44
    Explanation
    Q1 is the 1/4 of the data. 226/4=57th data.
    the 57th data falls in the "42-46" bar by counting the frequencies from the left.

    Rate this question:

  • 28. 

    Refer to the histogram below.  It is a frequency histogram of Religiosity among 226 randomly selected college students. Why does the histogram above represent a distribution?

    • A.

      Because the values of Religiosity is from 22 to 62.

    • B.

      Because it shows how Religiosity is a lurking variable

    • C.

      Because values for frequencies are given on the horizontal axis and the bars represent their Religiosity

    • D.

      Because values for Religiosity are given on the horizontal axis and the bars represent their frequencies.

    Correct Answer
    D. Because values for Religiosity are given on the horizontal axis and the bars represent their frequencies.
    Explanation
    The definition of a histogram is that the x-axis represents the data and the y-axis represents the frequencies of the data.

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  • 29. 

       Church League scoring follows a normal distribution with 16% of the scores greater than 41.4 and 16% less than 38.8.  What is the standard deviation for these scores?

    • A.

      1.3

    • B.

      2.3

    • C.

      3.4

    • D.

      4.3

    Correct Answer
    A. 1.3
    Explanation
    "16% of the scores greater than 41.4 and 16% less than 38.8." implies that 68% of the data is between 41.4 and 38.8.
    From the Empirical rule (68-95-99.7), we can conclude that 68% of the data is between 1 standard deviatio abobve the mean and one standard deviation below the mean, for a total of 2 standard deviations.

    Therefore, standard deviation = (41.4-38.8)/2=1.3

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  • 30. 

    1. A researcher wants to know the average dating expenses for BYU single students.  The researcher obtained a list of single students from the Records Office who live in the BYU dorms.  From this list , 50 students are randomly selected.  The 50 students are contacted by phone and the amount they spent on dates are recorded.  The average dating expense of the 50 students is $35 with a standard deviation of $8.  What is the population of interest?

    • A.

      Average dating expenses of students

    • B.

      All BYU Single students.

    • C.

      The 50 students selected.

    • D.

      All BYU students.

    • E.

      The number of single students who spends between $20 to $50 on date.

    Correct Answer
    B. All BYU Single students.
    Explanation
    Since the study refers to "BYU SIngle Students", then the population is "ALL BYU SIngle Students".

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  • 31. 

       A Sunday school teacher records the attendance for the first 10 meetings.  A record of the attendance is shown below.   42   46   30   43   43   8   41    40   43   44   Considering the distribution of the data,  which value best summarizes the attendance at the Sunday School meetings?

    • A.

      39.5

    • B.

      42.5

    • C.

      43.5

    • D.

      46.5

    Correct Answer
    B. 42.5
    Explanation
    This data has an outlier, which is 8. Therefore, the median best summarizes this data.

    8 30 40 41 42 43 43 43 44 46

    Median=(42+43)/2=42.5

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  • 32. 

    Below is a back-to-back stemplots of the number of A’s in a stats221 class for Provo an SLC for the last 33 semesters: Which of the following is most correct?

    • A.

      Provo has a higher average and a smaller variability.

    • B.

      Provo has a higher average, but SLC has s smaller variability.

    • C.

      SLC has a higher average and higher variability.

    • D.

      SLC has s higher average, but smaller variability.

    Correct Answer
    B. Provo has a higher average, but SLC has s smaller variability.
    Explanation
    Since Provo has more higher data, then it is more variable and higher mean.
    The SLC does not have data higher than Provo, therefore, it has less spread and the mean is lower.

    Rate this question:

  • 33. 

    Given the figure below: If basketballs X, Y, and Z are added to the group of five balls at the left, how will the standard deviation of the volume of the new 8 balls compare with the standard deviation of the volume of the original set of 5? The standard deviation of the volume of the new set of 8 balls will be _________ the standard deviation of the volume of the original 5 balls. Fill in the blank.

    • A.

      Smaller than

    • B.

      The same

    • C.

      Larger than

    • D.

      Cannot be determined from the information given.

    Correct Answer
    A. Smaller than
    Explanation
    Standard deviation decreases when adding data equal to the mean.
    Standard deviation increases when adding data above or below the mean.

    Rate this question:

  • 34. 

    To investigate the effects of playing basketball, 100 men in the 40-50 age range who play basketball were located.  Also, 100 men of the same age and weight ranges, who had never played basketball, were located.  The incidence of constipation was compared between the two groups.  What kind of study is this?

    • A.

      A multi-staged sample

    • B.

      A simple random sample

    • C.

      A completely randomized experiment

    • D.

      A matched pairs experiment

    • E.

      An observational study

    Correct Answer
    E. An observational study
    Explanation
    This is only an observational study because we are not "forcing" the subjects to the treatments. We are only "observing".

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  • 35. 

       The NBA scores are normally distributed.  Approximately what percent of these scores will fall between one standard deviation below the mean and two standard deviations above the mean?

    • A.

      48%

    • B.

      61%

    • C.

      68%

    • D.

      82%

    • E.

      95%

    Correct Answer
    D. 82%
    Explanation
    1 standard deviation below the mean is 68%/2=34%.
    2 standard deviations above the mean=95%/2=47.5
    34% + 47.5% = 81.5% or 82%

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  • 36. 

       What do we mean when the difference between two treatments, in a comparative experiment, are statistically significant?

    • A.

      Very close to what was expected

    • B.

      So large that there a mistake must have been committed

    • C.

      Due to chance or sampling error

    • D.

      Too large to claim that the difference is due to chance

    Correct Answer
    D. Too large to claim that the difference is due to chance
    Explanation
    Definition of Statistical significance: too large to claim that the difference is due to chance

    Rate this question:

  • 37. 

       A study measured the Forced Expiratory Volume (FEV, a measure of lung capacity for which higher numbers mean more lung capacity) on several school children ranging in age from 6 to 18.  The study also asked the children if the are or have been smokers.  Surprisingly the average FEV computed  for smokers is higher than the average FEV for non-smokers.  Which of the following should we consider when interpreting results from this study:

    • A.

      Since this is an observational study, we can conclude that smoking causes an increase in FEV

    • B.

      Age and height might be lurking variables because older kids will have larger lungs and will be more likely to smoke.

    • C.

      Since this is a designed experiment, we can conclude that smoking causes an increase in FEV

    • D.

      The study results are different from what was expected and therefore we should conclude that there is no relationship between smoking and FEV.

    • E.

      Children should not smoke and therefore the study must be invalid.

    Correct Answer
    B. Age and height might be lurking variables because older kids will have larger lungs and will be more likely to smoke.
    Explanation
    Lurking variables affect the response variables but the data have not been verified.

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  • 38. 

       The Statistics Department reported that there was a total of 3,215 Stats221 classes that have been offered with a mean enrollment of 55 and a standard deviation of 15.  A random sample of 200 Stats221 classes had a mean enrollment of 51 and a standard deviation of 12.  What symbols are commonly used to denote these values?

    • A.

      A

    • B.

      B

    • C.

      C

    • D.

      D

    Correct Answer
    A. A
    Explanation
    mu=population mean
    sigma=population standard deviation
    x-bar=sample mean
    s = sample standard deviation

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  • 39. 

    1. In order to assess opinions of BYU single students about the stated curfew regulation, a random sample of BYU single students were selected from each Singles Ward in BYU.  What type of sample is this?

    • A.

      Simple random Sample

    • B.

      Stratified random sample

    • C.

      Multistage sample

    • D.

      Completely Randomized experiment

    • E.

      Randomized Block Design

    Correct Answer
    B. Stratified random sample
    Explanation
    Multi-staged is randomly select from groups, then do SRS to each group selected.
    Stratified is to do SRS for every group.

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  • 40. 

    Which is the BEST graphical method for presenting the distribution of a categorical variable?

    • A.

      Histogram

    • B.

      Stemplot

    • C.

      Boxplot

    • D.

      Bar graph

    • E.

      Pie chart

    Correct Answer
    D. Bar grapH
    Explanation
    Bar graph is the BEST graphical method for presenting the distribution of a categorical variable.
    Histogram is is the BEST graphical method for presenting the distribution of a quantitative or numerical variable.

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  • 41. 

       Which interval below will contains the most data? 

    • A.

      A

    • B.

      B

    • C.

      C

    • D.

      D

    • E.

      E

    Correct Answer
    E. E
    Explanation
    a. 0%
    b. 68%/2=34%
    c. 95%/2-25=22.5%
    d. 25%
    e. 50%

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  • 42. 

       A Portfolio Manger is interested in studying the effects of some variables on stock returns. Which of the following variables is quantitative?

    • A.

      Zip code

    • B.

      Area code

    • C.

      Industry type

    • D.

      Cash Flow

    Correct Answer
    D. Cash Flow
    Explanation
    Cash flow is the only quantitative data.

    Rate this question:

  • 43. 

      Which density curve has the smallest standard deviation?

    • A.

      A

    • B.

      B

    • C.

      C

    Correct Answer
    C. C
    Explanation
    Density "C" has more data closer to the mean, therefore, it has the smallest standard deviation compared to "A" or "B".

    Rate this question:

  • 44. 

      Which of the following is a benefit of a randomized block design compared to a completely randomized design?

    • A.

      Blocking can be used as a substitute for double blinding.

    • B.

      Blocking reduces chance variation by removing variation associated with the blocking variable.

    • C.

      Blocking removes bias created by not randomly allocating individuals to the treatments.

    • D.

      Blocking can be used instead of reproducing the entire experiment in order to estimate chance variation.

    Correct Answer
    B. Blocking reduces chance variation by removing variation associated with the blocking variable.
    Explanation
    benefit of a randomized block design compared to a completely randomized design is Blocking reduces chance variation by removing variation associated with the blocking variable..

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  • 45. 

      Given a histogram, how will you approximate the standard deviation?

    • A.

      Use the standard deviation formula.

    • B.

      Range divide by 2

    • C.

      Range divide by 4.

    • D.

      Range divide by 6

    • E.

      Cannot be computed.

    Correct Answer
    D. Range divide by 6
    Explanation
    approximate standard deviation = Range divide by 6

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  • 46. 

       A Sunday school teacher records the attendance for the first 10 meetings.  A record of the attendance is shown below. What is the Interquartile Range (IQR)?   42   46   30   43   43   8   41    40   43   44

    • A.

      38

    • B.

      42

    • C.

      43.5

    • D.

      35

    • E.

      3

    Correct Answer
    E. 3
    Explanation
    8 30 40 41 42 | 43 43 43 44 46
    Min Median=(42+43)/2=42.5
    Q1=40
    Q3= 43
    IQR=Q3-Q1=43-40=3

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  • 47. 

       A Sunday school teacher records the attendance for the first 10 meetings.  A record of the attendance is shown below. Which measure of center best summarizes the attendance at the Sunday School class? 42   46   30   43   43   8   41    40   43   44

    • A.

      35

    • B.

      43

    • C.

      43.5

    • D.

      41.5

    • E.

      42.5

    Correct Answer
    B. 43
    Explanation
    8 30 40 41 43 43 43 44 46

    The middle data is 43.

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  • 48. 

       When looking at the histogram below, how do the mean and median compare?

    • A.

      Cannot be determined.

    • B.

      The mean is greater than the median.

    • C.

      The mean is equal to the median.

    • D.

      The mean is less than the median.

    Correct Answer
    D. The mean is less than the median.
    Explanation
    The mean is less than the median for left-skewed distribution.

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  • 49. 

       A financial adviser told you that it is better to invest your money in the stock market than putting it in the bank.  Assume that the distribution of stock returns is normal with a mean of 10.05% and a standard deviation of 12.12% per year.  You want to invest in a strategy that results in the highest 4% of the returns.  Thus you will select an investment with a return higher than ________.

    • A.

      20.1

    • B.

      25.7

    • C.

      31.26

    • D.

      40.26

    • E.

      Cannot be calculated.

    Correct Answer
    C. 31.26
    Explanation
    x = mu + z*sigma
    From the Normal Table, z=1.75 has 96% to the left.
    x=10.10 + (1.75)(12.12)= 31.26

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  • 50. 

       A financial adviser told you that it is better to invest your money in the stock market than putting it in the bank.  Assume that the distribution of stock returns is normal with a mean of 10.05% and a standard deviation of 12.12% per year.  Find the proportion of people who invested in the stock market that get between 8 to 11% return on a typical year.

    • A.

      0.0994

    • B.

      0.0735

    • C.

      0.3651

    • D.

      0.6349

    • E.

      Cannot be calculated.

    Correct Answer
    A. 0.0994
    Explanation
    z=(8-10.05)/12.12= -0.17
    z=(11-10.05)/12.12= 0.08

    From the Normal Table,
    the percentage to the left of z=0.08 is 0.5319
    the percentage to the left of z= -.17 is 0.4325
    the percentage between the z-scores is =.5319 - 0.4325 = 0.0994

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Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Jun 30, 2009
    Quiz Created by
    Doriarg
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