QNT 275 Statistics For Decision Making Final Exam
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QNT 275 Statistics For Decision Making Final Exam 1) The main purpose of descriptive statistics is to
A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data 2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called
A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement 3) The performance of personal and business investments is measured as a percentage, return on investment. What…show more content… A. Mode
B. Mean
C. Median
D. Standard deviation 11) For any data set, which measures of central location have only one value?
A. Mode and median
B. Mode and mean
C. Mode and standard deviation
D. Mean and median 12) A sample of single persons receiving social security payments revealed these monthly benefits: $826, $699, $1,087, $880, $839, and $965. How many observations are below the median?
A. 0
B. 1
C. 2
D. 3 13) A dot plot shows
A. the general shape of a distribution
B. the mean, median, and mode
C. the relationship between two variables
D. the interquartile range 14) The test scores for a class of 147 students are computed. What is the location of the test score associated with the third quartile?
A. 111
B. 37
C. 74
D. 75% 15) The National Center for Health Statistics reported that of every 883 deaths in recent years, 24 resulted from an automobile accident, 182 from cancer, and 333 from heart disease. Using the relative frequency approach, what is the probability that a particular death is due to an automobile accident?
A. 24/883 or 0.027
B. 539/883 or 0.610
C. 24/333 or 0.072
D. 182/883 or 0.206 16) If two events A and B are mutually exclusive, what does the special rule of addition state?
A. P(A or B) = P(A) + P(B)
B. P(A and B) = P(A) + P(B)
C. P(A and/or B) = P(A) + P(B)
D. P(A or B) = P(A) – P(B) 17) A listing of all possible outcomes of an experiment and their