Copy and Edit

ECON 261 EXAM 1

Description

ECON 261 Quiz on ECON 261 EXAM 1 , created by Natalie Balzert on 19/09/2016.
Natalie Balzert
Quiz by Natalie Balzert, updated more than 1 year ago
Natalie Balzert
Created by Natalie Balzert about 9 years ago
39
0
0

Resource summary

Question 1

Question
The middle value in an ordered array of numbers is the _____?
Answer
  • mode
  • mean
  • standard deviation
  • median

Question 2

Question
The average of a group of number which is computed by summing all numbers and dividing buy the number of numbers is called the (arithmetic) _____?
Answer
  • median
  • mean
  • mode
  • standard deviation

Question 3

Question
The most frequently occurring value in a set of data is the _____?
Answer
  • mode
  • mean
  • median
  • standard deviation

Question 4

Question
To describe the spread or dispersion of a set of data is called _____?
Answer
  • measure of variability
  • range
  • standard deviation
  • none of the above

Question 5

Question
The difference between the largest value of a data set and the smallest value of a range is the _____?
Answer
  • variability
  • standard deviation
  • range
  • none of the above

Question 6

Question
The average of the squared deviations about the mean for a set of numbers is the _____?
Answer
  • variance
  • mean
  • standard deviation
  • none of the above

Question 7

Question
The square root of the variance is the _____?
Answer
  • mean
  • variance
  • standard deviation
  • none of the above

Question 8

Question
For which of central value will the sum of the deviations of each value from the average always be zero?
Answer
  • Mean
  • Mode
  • Median
  • None of the above

Question 9

Question
The relationship between the variance and the standard deviation is:
Answer
  • Variance is the square root of the standard deviation.
  • Variance is the square of the standard deviation.
  • Variance is twice the standard deviation.
  • There is no relationship between variance and standard.

Question 10

Question
Variability is measured by:
Answer
  • The Mean.
  • The Median.
  • The Standard Deviation.
  • The Mode.

Question 11

Question
It is possible for a data set to contain:
Answer
  • Two means.
  • Two medians
  • Two modes
  • All of the above.

Question 12

Question
The range of a data set is:
Answer
  • the difference between any two values.
  • the difference between the smallest and largest values.
  • the difference between the mean and the median.
  • none of the above.

Question 13

Question
Which of the following is referred to as the sample mean?
Answer
  • X-bar
  • u
  • sample
  • none of the above

Question 14

Question
Which measures of central values are not affected by extremely low or extremely high values?
Answer
  • mean and median
  • mean and mode
  • mode and median
  • none of the above

Question 15

Question
The range of values of the coefficient of correlation is:
Answer
  • -1% and 1% inclusive
  • 0 and +1 inclusive
  • -1 and +1 inclusive
  • unlimited values

Question 16

Question
What does it mean if r=-1 for two variables X and Y?
Answer
  • X can perfectly predict Y
  • X and Y are not dependent on each other
  • high values of X are associated with low values of Y
  • none of the above.

Question 17

Question
Which of the following measures of dispersion are based on deviation from the mean?
Answer
  • variance
  • standard deviation
  • mean deviation
  • all of the above

Question 18

Question
Consider the following sample data set: 4,3,8,7, and 3. The sample mean for this data set is:
Answer
  • 7
  • 4
  • 5
  • 3

Question 19

Question
Consider the following sample data set: 4,3,8,7, and 3. The median for this data set is:
Answer
  • 4
  • 2
  • 3
  • 5

Question 20

Question
Consider the following sample data set: 4,3,8,7, and 3. The mode for this data set is:
Answer
  • 5
  • 4
  • 0
  • 3

Question 21

Question
Consider the following sample data set: 4,3,8,7, and 3. The range for this data set is:
Answer
  • 3
  • 5
  • 0
  • 4

Question 22

Question
Consider the following sample data set: 4,3,8,7, and 3. The variance for this data set is:
Answer
  • 7.50
  • 0.25
  • 3.50
  • 5.50

Question 23

Question
Consider the following sample data set: 4,3,8,7, and 3. The standard deviation for this data set is:
Answer
  • 2.74
  • 2.35
  • 2.5
  • 1.58

Question 24

Question
Consider the following sample data set: 4,3,8,7, and 3. The coefficient of variation for the data set is:
Answer
  • 0.235
  • 0.758
  • 0.548
  • 0.470

Question 25

Question
Human Resources Department of one hotel reports that annual salaries for its personnel have a mean of $40,000 and a standard deviation of $3,500. If the salaries are SYMMETRICALLY distributed, the interval of salaries representing two standard deviations on either side of the mean is:
Answer
  • (33000,47000)
  • (36500,43500)
  • (29500,55000)
  • (42000,53000)

Question 26

Question
Human Resources Department of one hotel reports that annual salaries for its personnel have a mean of $40,000 and a standard deviation of $3,500. What proportion of the salaries is within $3,500 of the mean?
Answer
  • 95%
  • 99%
  • 84%
  • 68%

Question 27

Question
Human Resources Department of one hotel reports that annual salaries for its personnel have a mean of $40,000 and a standard deviation of $3,500. What proportion of the salary is below $33,000?
Answer
  • 5%
  • 2.5%
  • 10%
  • 1%

Question 28

Question
Human Resources Department of one hotel reports that annual salaries for its personnel have a mean of $40,000 and a standard deviation of $3,500. If the salaries are 5/2 standard deviation of the mean?
Answer
  • 2.5%
  • 90%
  • 86%
  • 84%

Question 29

Question
Consider the following sample data describing the relationship between the variables X and Y. X = 3,4,6,7 Y = 1,4,5,6 The standard deviation of X and standard deviation of Y are respectively
Answer
  • (1.58, 1.58)
  • (1.83, 2.16)
  • (3.33, 4,67)
  • (1.25, 2.25)

Question 30

Question
Consider the following sample data describing the relationship between the variables X and Y. X = 3,4,6,7 Y = 1,4,5,6 The covariance of X and Y is:
Answer
  • 3.20
  • 1.56
  • 4.10
  • 3.67

Question 31

Question
Consider the following sample data describing the relationship between the variables X and Y. X = 3,4,6,7 Y = 1,4,5,6 The correlation coefficient of X and Y is:
Answer
  • 0.57
  • 0.93
  • 0.83
  • 0.10

Question 32

Question
You can conclude that the relationship between X and Y is:
Answer
  • strong
  • weak
  • mild
  • non-existent
Show full summary Hide full summary

Want to create your own Quizzes for free with GoConqr? Learn more.

Similar

Browse Library