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Statistics for Business and Economics C3

Total questions: 9

Worksheet time: 7mins

Name
Class
Date
1.

The median and the second quartile of a data set are always equal.

a)

True

b)

False

2.

Depending on the numbers in a data set, the sum of deviations from the arithmetic mean for the set of numerical data may be greater than or less than zero.

a)

True

b)

False

3.

For a set of data that are distributed in a bell or mound shape, approximately what percentage of values will lie between the mean and two standard deviations?

a)

68%

b)

85%

c)

95%

d)

99.7%

4.

For a skewed distribution, what is the minimum percentage of the observations that will lie within 2.5 standard deviations of the mean based on Chebyshev’s rule?

a)

84%

b)

75%

c)

78%

d)

95%

5.

Compared to the formula for determining the population variance, the formula for determining the sample variance is ________.

a)

exactly same

b)

totally different

c)

similar except for (n − 1) in the denominator instead of N

d)

similar except for (n + 1) in the denominator instead of N

6.

If the z-score of an observation in a set of normally distributed numerical data is bigger than zero, it means that the observation is ________. hint: z score= (x-x̄)/s

a)

an error

b)

an outlier

c)

bigger than the mean

d)

bigger than the standard deviation

7.

If the sample variance of a dataset of size 8 is 2.57, what is the population variance if considering the same dataset to be a population?

a)

2.57

b)

2.25

c)

1.60

d)

1.5

8.

Which one of the following is not used in developing a box and whisker plot to describe the distribution of data?

a)

the median

b)

the mean

c)

the lower quartile

d)

the upper quartile

e)

the smallest value within the inner fence

9.

For a set of data with a distribution skewed to the left ________.

a)

the mean is equal to the median

b)

the mean is lower than the median

c)

the mean is greater than the median

d)

the median is greater than the mean