Stat Quiz 1 - Statistics: Mean, Median, Mode, Variance

What is the mean of the following set of numbers: 4, 8, 15, 16, 23, 42?

• 18

• 19.67

• 21.33

• 22

How do you find the median of the data set: 3, 7, 9, 15, 18?

• 7

• 9

• 12

• 15

Identify the mode in the following data set: 5, 7, 7, 9, 10, 10, 10, 12.

• 5

• 7

• 10

• 12

What is the variance of the data set: 2, 4, 4, 4, 5, 5, 7, 9?

• 2.0

• 4.0

• 6.0

• 8.0

Calculate the standard deviation of the data set: 1, 2, 3, 4, 5.

• 1.41

• 1.58

• 2.00

• 2.24

Which of the following is an application of mean in business?

• Determining the most common product sold

• Calculating average sales per month

• Identifying the most frequent customer complaint

• Measuring the spread of sales data

If a data set has no repeated numbers, what is the mode?

• 0

• 1

• The smallest number

• There is no mode

What is the median of the data set: 12, 15, 14, 10, 18, 20?

• 14

• 15

• 16

• 17

How is variance related to standard deviation?

• Variance is the square root of standard deviation

• Variance is the square of standard deviation

• Variance is twice the standard deviation

• Variance is half the standard deviation

Which of the following is a reason to calculate standard deviation in business?

• To find the average sales

• To measure the consistency of sales

• To identify the most popular product

• To calculate total revenue