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Exam 3: Descriptive Statistics: Numerical Measures

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Question 1

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The following data show the yearly salaries of a sample of EMBA graduates. a.Compute the mean yearly salary and give your answer in dollars. b.Compute the standard deviation and give your answer in dollars. c.Compute the 75th percentile and give your answer in dollars. Fully explain what the value that you have determined indicates.

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a.$98,000
b.$9,355.03
c.$104,0...

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Question 2

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The coefficient of correlation ranges between

A) 0 and 1
B) -1 and +1
C) minus infinity and plus infinity
D) 1 and 100

E) All of the above
F) None of the above

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Question 3

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The most frequently occurring value of a data set is called the

From a population of size 1,000, a random sample of 100 items is selected. The mean of the sample

The interquartile range is

If index i (which is used to determine the location of the pth percentile) is not an integer, its value should be

The following data represent the daily demand (y in thousands of units) and the unit price (x in dollars) for a product. a.Compute and interpret the sample covariance for the above data. b.Compute and interpret the sample correlation coefficient.

When computing the mean, the smallest value

Global Engineers hired the following number of Class 1 engineers during the first six months of the past year. (Assume the data represent a sample.) a.Determine the mean, the median, the mode, and the range for the above data. b.Compute the variance and the standard deviation. c.Compute the first and the third quartiles. d.Compute the z-scores for the months of May and June.

The coefficient of correlation

In the last month, Nancy purchased gasoline from four different gas stations. The following table shows the price per gallon and the gallons of gasoline that she purchased. Determine the average price per gallon that Nancy paid for the gasoline.

In 2012, the average donation to the Community Kitchen was $900 with a standard deviation of $180. In 2013, the average donation was $1,600 with a standard deviation of $240. In which year do the donations show a more dispersed distribution?

The ages of a sample of 8 faculty members selected from the School of Business Administration are shown below. a.Compute the average age. b.Determine the mode. c.Compute the median age. d.Compute the standard deviation.

The measure of dispersion which is not measured in the same units as the original data is the

The geometric mean of 2, 4, 8 is

The measure of location which is the most likely to be influenced by extreme values in the data set is the

The median of a sample will always equal the

Which of the following symbols represents the mean of the population?

The following observations are given for two variables. a.Compute and interpret the sample covariance for the above data. b.Compute the standard deviation for x. c.Compute the standard deviation for y. d.Compute and interpret the sample correlation coefficient.

Exhibit 3-2 A researcher has collected the following sample data 5 12 6 8 5 6 7 5 12 4 -Refer to Exhibit 3-2. The mode is