Exam 1Chapters 1, 2, and 3NAME:___________________________________________1.The ___ is a numerical measure of the center of a set of quantitative data computed by dividing 1_____the sum of the values by the number of items (or values) in the data set.A.middleB.outlierC.modeD.medianE.mean2.The ___ is the center value that divides a data array into two halves.2_____A.middleB.outlierC.modeD.medianE.mean3.___ is a collection of procedures and techniques that are used to convert data into meaningfulinformation in a business environment.A.ParametersB.Business statisticsC.Statistical inference proceduresD.An algorithmE.An experiment4.Data that can take only specific, countable number of possible values is known as ___ data.4_____A.readableB.variableC.randomD.continuousE.discrete5.The set of all objects or individuals of interest is called a(n) ___.A.populationB.itemC.sampleD.arrayE.matrix13_____5_____6.A(n) ___ is a process that produces a single outcome that cannot be predicted with certainty.A.resultB.hypothesisC.experimentD.estimationE.survey7.___ is a set of consecutive data values observed at successive points in time.7_____A.A reportB.A data setC.A historyD.Time-series dataE.A data run8.A(n) ___ is a two-dimensional graph of plotted points where each plotted point has coordinates 8_____whose values are obtained from the respective variables.A.coordinated planeB.graphC.scatter diagramD.linear trend plotE.analysis graph9.___ is an effect that alters a statistical result by systematically distorting it.A.ErrorB.BiasC.ValidityD.ReliabilityE.Multicollinearity10.A(n) ___ is a subset of the population.10____A.groupB.data setC.unionD.sampleE.data array11.The ___ is the average squared difference between the data value and the mean.A.errorB.varianceC.deviationD.skewedE.alteration26_____9_____11____For question 12 through question 17, use the following population data. Round off your calculations to2 decimal places.1522192622252812.What is the calculated value of the population mean (µ)?A.24.23B.23.24C.22.34D.22.43E.21.3412____13.What is the median of the population (?)?A.26B.22C.24D.25E.2313____14.What is the value of the mode of the population?A.26B.22C.24D.25E.2314____15.What is the range of the population data?A.8B.10C.18D.15E.1315____16.What is the value of the population variance (?2)?A.16.82B.15.28C.18.62D.19.04E.17.4616____17.What is the population standard deviation (?)?A.3.9117____3B.C.D.E.4.364.174.104.32For questions 18 through 23, us the following sample data. Round off your calculations to 2 decimal places.2419312624222318.What is the calculated value of the sample mean (X-bar)?A.24.41B.22.44C.21.14D.24.14E.25.4118____19.What is the value of the sample median (Md)?A.26B.24C.22D.23E.2519____20.What is the mode of the sample?A.31B.26C.22D.24E.2320____21.What is the range of the sample?A.24B.15C.12D.26E.1321____22.What is the value of the sample variance (s2)?A.12.97B.14.82C.13.1822____4D.E.14.2813.8123.What is the value of the sample standard deviation (s)?A.4.10B.3.27C.4.01D.3.67E.3.7223____24.What is the population coefficient of variation?A.17.98B.18.18C.18.82D.18.28E.19.0124____25.What is the sample coefficient of variation?A.16.24B.15.39C.15.52D.15.93E.15.2325____MUST SHOW WORK OF PREVIOUS PROBLEMS ON THE FOLLOWING PAGES!!!!5EXAM 1FORMULA/WORKSHEET12.NAME:______________________________________Population Mean (µ):6?=?xNx15221926222528?=13.Population Median (µ):First, put the data set in order horizontally from the lowest value to the highest value (see table belowIndex).Next you calculate the Median Index_1i= n2If i is not an integer, round its value up to the next highest integer.If I is an integer, the median is the average of the values in position i and position i + 1.PositionValue14.123456715192222252628Mode:Organize the data into a frequency distribution (from smallest to largest – vertically)7Determine the value(s) that occurs (occur) most often.ValueFrequency15192225262815.Range is so easy to calculate. Surely you can calculate this without assistance!!!!16.Population Variance (?2):8This is the Population Variance Formula( x?? )2??=2NThis is the Population Variance Shortcut Formula222?=?x ?(? x )NNx2x(x – µ)2(x – µ)15221926222528?=17.?=?=Population Standard Deviation (?):9? =? ? =218.?? ( x?? )2This is the square root of the value generatedby the Population Variance FormulaNSample Mean (x-bar):´x =?xnx24193126242223?=19.Calculation of the Sample Median (Md):First, put the data set in order horizontally from the lowest value to the highest value (see table belowIndex).Next you calculate the Median Index. (It is the same process used in the calculation of the populationmedian index.)Calculate the Median Index_1i= n2If i is not an integer, round its value up to the next highest integer.If I is an integer, the median is the average of the values in position i and position i + 1.Position12345610720.ValueMode:19222324242631Organize the data into a frequency distribution (from smallest to largest – vertically)Determine the value(s) that occurs (occur) most often.ValueFrequency19222324263121.Range is so easy to calculate. Surely you can calculate this without assistance!!!!1122.Sample Variance:This is the Sample Variance Formulas 2=? ( x?´x )2n?1This is the Sample Variance Shortcut Formula222s=?x ?(? x )nn?1x2x(x – x)2(x – x)24193126242223?=?=?=1223.Sample Standard Deviation (s):s= ? s =224.?? ( x?´x )2n?1This is the square root of the value generatedby the Sample Variation FormulaPopulation Coefficient of Variation (CVp):?CV = (100)?25.Sample Coefficient of Variation (CVs):sCV = (100)x´135-Points:As a descriptive measure, the mean does have a potential disadvantage, it ___.A.has to calculated and most people are poor with mathB.really doesn’t describe the dataC.it has no mean-ing (ha-ha; how about that one!!!)D.it can be affected by extreme valuesE.it tends to have a bad temper which comes out physically!!!______When dealing with quantitative data, at times you will need to convert measures to a form called standardizeddata values. This is especially useful when a comparison is required from two or more distributions that utilizedifferent data scales. In cases like this the data must be converted to a standardized form.For both of the data distributions in this exam (population and sample) suppose an analysis of the project thatgenerated both distributions an observed data value of 25 which can be compared to both data sets. Generate astandardized data value of the observed value ( 25 ) for each data set using the formulas below.Standardized Population Data (z):z=x???Standardized Sample Data (z):z=10-Points10-Pointsx?´xs1415

Published by

Ace Tutors

View all posts