MTH302 Business Mathematics & Statistic
Quiz helping material from lecture 23 to 32
Q.1)
For a data, if mean > median then its distribution is

A. asymmetrical
B. symmetrical
C. left asymmetrical (correct answer)
D. right asymmetrical
Explanation
Symmetrical Distribution
mean = median = mode
Positively Skewed Distribution(Tilted to left)mean > median > mode
Negatively Skewed Distribution mode < median < mean(Tilted to right)

Q.2) The variance of the 3, 3, 3, 3, 3 is
A. Zero (correct answer)
B. One
C. Twice the standard deviation
D. Half of the range

Q.3) The regression equation should only used
A. When there is significant linear correlation (correct answer)
B. When there is significant multi correlation
C. When there is significant quadratic correlation
D. When there is significant simple correlation

Q.4) As the regression line equation is y = ax + b, where b is
A. The x-intercept
B. The y-intercept (correct answer)
C. The slope
D. None of these
Explanation
Y = y-axis
a = slope
x = x-axis
b = y-intercept

Q.5) My estimated regression line is Y = 17 + 4X. The intercept is equal to:
A. 17 (correct answer)
B. 4
C. 21
D. 13
Explanation
Y represents the dependent variable
X represents the independent variable
a represents the Y-intercept
(i.e. the value of Y when X is equal to zero)
b represents the slope of the line
represents the angleq, where q(i.e. the value of the tan between the line and the
horizontal axis)

Q.6) The point where a straight line cuts the x-axis is called
A. slope
B. starting point
C. y-intercept
D. x-intercept (correct answer)

Q.7) If strength of the association between X and Y is very weak, then r = ?
A. r = - 1
B. r = 0 (correct answer)
C. r = 1
D. r = 2

Q.8) In a positively skewed distribution
A. The mean, median, and mode are all equal.
B. The mean is larger than the median (correct answer)
C. The median is larger than the mean.
D. The standard deviation must be larger than the mean or the median.
Explanation
Positively Skewed Distribution (Tilted to left) mean > median > mode
Negatively Skewed Distribution mode < median < mean (Tilted to right)

Find the mean of this data set: $7.75, $9.50, $7.20, $8.00
  • $7.88
  • $8.11
  • $2.30
  • $7.10


Find the mode of this list: 47, 91, 63, 81, 82, 63, 37, 44, 63
  • 63.4
  • 82
  • 63
  • 54


Find the range of this data set: 67, 89, 34, 67, 89, 23, 32, 45, 32,
  • 67, 90
  • 67
  • 32
  • 57.73
  • 23


Sales made last year by Martin's Appliance Store are listed
below. The first number tells how many employees made the
sales amount. Calculate the mean, median, and mode. Two sales
employees earned in the range of $130,001–150,000. Six sales
employees earned in the range of $110,001–130,000. Ten sales
employees earned in the range of $90,001–110,000. Five sales
employees earned in the range of $70,001–90,000. Three sales
employees earned in the range of $50,001–70,000.

  • Mean: $99,231.27; median: $90,001–110,000; mode: $90,001–110,000
  • Mean: $100,000.50; median: $90,001–110,000; mode: $90,001–110,000
  • Mean: $90,001–110,000; median: $90,001–110,000; mode: $99,231.27
  • Mean: $99,231.27; median: $99,231.27; mode: $90,001–110,000


A frequency distribution can be used to summarize a large data
set.

  • True
  • False


Which type of graph is best to illustrate differences in data by
using bars to represent the data?

  • bar graph
  • line graph
  • circle graph
  • pictorial graph


Which type of graph is best used to present a progression in
historical data?

  • bar graph
  • line graph
  • circle graph
  • pictorial graph


Which type of graph is the most useful for illustrating how data
are divided?

  • bar graph
  • line graph
  • circle graph
  • pictorial graph


Find the range for Juanita's grades last semester: 77, 86, 93, 78,
95, 66, 87, and 90.

  • 32
  • 31
  • 30
  • 29


If the variance is 49, what is the standard deviation?
  • 2,401
  • 7
  • 7.9
  • 6.2


If the housing budget is 25% of total expenses, how many
degrees on a circle graph would this be?

  • 45°
  • 90°
  • 180°
  • 270°


Find the average rate of return for six different stocks. Stock 1:
5%; stock 2: 7%; stock 3: 8%; stock 4: 4 1/2%; stock 5: 9%;
and stock 6: 5%.

  • 6.42%
  • 6.416%
  • 6.5%
  • 6.67%



Approximately 99% of all values will fall within _____ standard
deviations in a normal distribution.


  • 68%
  • 95%
  • 99%
  • 100%


_____ make visual the relationship between sets of data.
  • Charts
  • Graphs
  • Tables
  • Lines



The _____________ is the difference between the smallest and
the largest values in a set of data.

  • mean
  • median
  • standard deviation
  • range

The ____________ in a set of data is the sum of the values
divided by the total number of values.

  • range
  • mean
  • standard deviation

The ____________ is the middle value of a data set when it is
  • arranged from smallest to largest.
  • median
  • mean
  • standard deviation


The __________ is the item of data that appears most
frequently in a set of data.

  • median
  • mean
  • mode
  • standard deviation


A _________ graph uses separated horizontal or vertical bars to
show relative quantities.

  • line
  • histogram
  • circle
  • bar


The ____________ graph uses a single dot to represent each
data item.

  • histogram
  • circle
  • line
  • bar


A ___________ graph gives a visual picture of how some whole
quantity is being divided.

  • bar
  • line
  • circle
  • histogram


A _____ is a collection of values or measurements that have
common characteristics.

  • range
  • data set
  • standard deviation
  • variance


A _____ is a standardized and meaningful measure of a set of
data that reveals a certain feature or characteristic of the data.

  • statistic
  • circle graph
  • variance
  • mean


The categories for grouping the values in a data set are called
_____.

  • data set groups
  • class intervals
  • statistics
  • standard deviation

.
A mark that is used to count data in class intervals is a _____.
  • category
  • group frequency distribution
  • data set
  • tally


Mean, median, and mode are examples of measures of _____.
  • variation
  • central tendency
  • statistics
  • data sets


Range and standard deviation are examples of measures of
_____.

  • variation
  • central tendency
  • statistics
  • data sets


The measurement that shows how data is spread above and
below the mean is the _____.

  • standard deviation
  • variance
  • range
  • mode


The standard deviation squared is the _____.
  • range
  • mode
  • variance
  • deviatiant


Use the following situation to answer questions 1 through 3:
Merritt's Bakery offers wedding cakes at the following prices:
$99.00, $129.00, $149.00, $169.00, $199.00, and $249.00.
Find the mean price for a wedding cake.

  • $165.67
  • $159.00
  • There is no mean.


Which measure of central tendency provides the most
information for decision making?

  • mean
  • median
  • mode
  • All three statistics are needed for decision making.


In a data set of 1, 2, 2, 4, 5, 6, 6, and 7, what is the mode?
  • 2
  • 6
  • 2 and 6
  • There is no mode



Tyco Toys has 25 people on Line A. Production values were: 19,
60, 51, 49, 37, 35, 45, 49, 57, 20, 39, 51, 52, 48, 56, 49, 44, 62,
70, 50, 54, 49, 56, 33, 52. Create a frequency distribution for the
employees' production. How many employees produced 50 or
more finished products?

  • 10
  • 11
  • 12
  • 13

A circle graph shows how much of a school's annual budget is
spent for utilities. The total annual budget is $2,150,000. If
$250,000 is spent for utilities, how many degrees would this be
on a circle graph?

  • 4.19 degrees
  • 41.9 degrees
  • 318.1 degrees

What kind of graph uses either vertical or horizontal bars?
  • histogram
  • line graph
  • bar graph
  • circle graph


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When does a line graph actually look like a curve rather than
angles formed by lines?

  • if it has a sufficient number of points
  • always
  • never
  • when the data represented are large numbers

What kind of graph uses a single point rather than a bar to represent height?
  • circle graph
  • histogram
  • line graph
  • bar graph


Find the range for the following data set: 5, 7, 0, 9, 8, and 6.
  • 0
  • 8
  • 9
  • 10


What is the first step in finding a standard deviation?
  • Find the mean
  • Find the median
  • Find the mode
  • Find the deviation


The square root of the variance is the _____.
  • standard variance
  • squared deviation
  • range
  • standard deviation


What is the standard deviation for a variance of 64?
  • 8
  • 7.5
  • 7
  • 6.5


A normal distribution is also called a _____.
  • line graph
  • bell curve
  • pie chart
  • standard deviation


Question No: ( Marks: 1 ) - Please choose one
The c2 distribution is ---------------

_ Positively skewed
_ Negatively skewed
_ Symmetrical
_ None of these

Question No: ( Marks: 1 ) - Please choose one
In the regression line Y = a + bX., a represents

___Intercept of the line
___Slope of the line
___Slope of the curve
___None of the above

Question No: ( Marks: 1 ) - Please choose one
Which distribution is most commonly used for the continuous data?

_ Normal Distribution
_ Binomial Distribution
_ Poisson Distribution
_ Negative Binomial Distribution
Question No: ( Marks: 1 ) - Please choose one
The standard deviation of any sampling distribution is called

_ sampling error
_ type –I error
_ standard error
_ non sampling error
Question No: ( Marks: 1 ) - Please choose one
For graphing univariate data we use

_ Pie charts,Bar charts .
_ Pareto diagrams.
_ Side by side chart .
_ Both (1) & (2)
Question No: ( Marks: 1 ) - Please choose one
The RSQ of any data is

_ Square root of correlation coefficient.
_ Square of correlation coefficient.
_ Correlation coefficient.
_ Slope of the data.
Question No( Marks: 1 ) - Please choose one
If the estimating equation is Y = a – b X, which of the following is true

_ The y intercept is b
_ Slope of line is positive
_ There is inverse relationship
_ There is direct relationship

Question No ( Marks: 1 ) - Please choose one
Which of the following terms is a measure of the central tendency?

_ Standard Deviation
_ Variance
_ Average
_ None of these

Question No ( Marks: 1 ) - Please choose one
In a positively skewed distribution
_ The mean, median, and mode are all equal.
_ The mean is larger than the median
_ The median is larger than the mean.
_ The standard deviation must be larger than the mean or the median.