Question

1. In a sample of 350 students selected from a large college of business, 25% are found to be marketing majors. The 25% is a statistic.

True                 False

2. Lily has been keeping track of what she spends to eat out. The last week's expenditures for meals eaten out were $5.69, $5.95, $6.19, $10.91, $7.49, $14.53, and $7.66. What is the mean amount Lily spends on meals?

__________________

3. Monthly rent in dollars for a sample of 10 stores in a small town in South Dakota are as follows: 220, 216, 220, 205, 210, 240, 195, 235, 204, and 250. What is the sample mean?

__________________

4. Suppose that a firm's sales were $2,500,000 four years ago, and sales have grown annually by 25%, 15%, -5%, and 10% since that time. What was the geometric mean growth rate in sales over the past four years?

                                                                                                __________________

5. The data set 10, 20, 30 has the same variance as the data set 100, 200, 300.

True                 False

6. The values for a sample taken from a particular population are listed below. Calculate the standard deviation for the sample values.

9     14     18     21

                                                __________________

7. A basketball player has the following points for seven games: 20, 25, 32, 18, 19, 22, and 30. Compute the coefficient of variation.

__________________

8. According to the Empirical Rule, if the data form a bell shaped normal distribution, approximately ________ % of the observations will be contained within two standard deviations.

9. In a bell-shaped distribution, there is no difference in the values of the mean, median, and mode.

True                 False

10. A data sample has a mean of 107, a median of 122, and a mode of 134. The distribution of the data is positively skewed.

True                 False

Answer 1

1)In a sample of 350 students selected from a large college of business, 25% are found to be marketing majors. The 25% is a statistic.

False. As we calculate the 25% of 350, it will be 87.5 which is not possible as the value of number of individuals should be a positive integer.

2)Lily has been keeping track of what she spends to eat out. The last week's expenditures for meals eaten out were $5.69, $5.95, $6.19, $10.91, $7.49, $14.53, and $7.66. What is the mean amount Lily spends on meals?

Mean=Sum of all observations/Number of observations

= ($5.69+ $5.95+ $6.19+ $10.91+$7.49+ $14.53+ $7.66)/7

=$58.42/7

=$8.345

So, mean amount that Lily spends on meals is $8.345

3)Monthly rent in dollars for a sample of 10 stores in a small town in South Dakota are as follows: 220, 216, 220, 205, 210, 240, 195, 235, 204, and 250. What is the sample mean?

Mean=(220+ 216+ 220+ 205+ 210+ 240+ 195+ 235+ 204+250)/10

=2195/10

=219.5

4)Suppose that a firm's sales were $2,500,000 four years ago, and sales have grown annually by 25%, 15%, -5%, and 10% since that time. What was the geometric mean growth rate in sales over the past four years?

Geometric mean =(Product of observations)^{1/Number of observations}

=(25*15*-5*10)^1/4

=(-18750)^1/4

5)The data set 10, 20, 30 has the same variance as the data set 100, 200, 300.

False

As the mean will be different that is 20 and 200 respectively variance wil be 100/3 and 10000/3 respectively.