# Business statistics

**Paper, Order, or Assignment Requirements**

**Question 1 **

What is the arithmatic mean of the following set of numbers? 90, 91, 77, 110, 94, 92, 89, 100, 119, 113,

112, 83.

a. | 64 | |

b. | 1170 | |

c. | 100.6 | |

d. | 97.5 |

8 points

**Question 2 **

Below is a frequency table of board lengths. What lenght of boards has the lowest frequency?

Length (inches) Number of Items

10 up to 20 3

20 up to 30 4

30 up to 40 8

40 up to 50 9

a. | 30 up to 40 | |

b. | 10 up to 20 | |

c. | 20 up to 30 | |

d. | 40 up to 50 |

9 points

**Question 3 **

The departments in a large corporation are listed such as finance, marketing, and warehouse supervision . Which level of measurement are these departments?

a. | Interval | |

b. | Nominal | |

c. | Ratio | |

d. | Ordinal |

8 points

**Question 4 **

The numbers of traditional print newspapers sold were examined. Which level of measurement is the number of newspapers sold?

a. | Ordinal | |

b. | Ratio | |

c. | Interval | |

d. | Nominal |

8 points

**Question 5 **

What is the class interval for the table of factory wages below?

Hourly Wages Number of Wage Earners

$10 – up to $13 22

$13 – up to $16 28

$16 – up to $19 10

$19 – up to $22 8

a. | $2.50 | |

b. | $8 | |

c. | $3 | |

d. | $2 |

8 points

**Question 6 **

The mean life of a light bulb is 1000 hours and the standard deviation is 100 hours. The life of the part is normally distributed allowing the use of the Empirical Rule. Applying the Empirical Rule, it can be concluded that 99.7% of the bulbs will last between:

a. | 800 and 1200 hours | |

b. | 950 – 1150 hours | |

c. | 700 and 1300 hours | |

d. | 900 and 1100 hours |

8 points

**Question 7 **

What is the best choice of graph/chart to display the follow data as given?

Weight Cumulative Number

10-15 pounds 3

20-25 pounds 9

30-35 pounds 12

40-45 pounds 17

a. | Cumulative frequency graph | |

b. | Bar chart | |

c. | Histogram | |

d. | Pie chart |

8 points

**Question 8 **

What is the best choice of graph/chart to display the opinion survey data below?

Response Number of Responses

Not Satisfied 20

Satisfied 40

Very Satisfied 60

a. | Bar chart | |

b. | Cumulative frequency chart | |

c. | Frequency Polygon | |

d. | Histogram |

9 points

**Question 9 **

What is the relative frequency of those earning salaries between $30,000 and $40,000?

Annual Salaries Number

$30,000 – $40,000 5

$50,000 – $60,000 10

$80,000 – $90,000 3

$100,000 – $110,000 7

a. | 0.12 | |

b. | 0.024 | |

c. | 0.4 | |

d. | 0.20 |

9 points

**Question 10 **

Which of the following is an example of a discrete variable?

a. | Number of hunters in the woods | |

b. | Temperature of a heat treating process | |

c. | Weight of ball bearings in machinery | |

d. | Distance between Backus, MN and Conway, AR |

8 points

**Question 11 **

The data set below is a sample data set. Calculate the sample standard deviation.

10, 20, 30

a. | 13 | |

b. | 66.7 | |

c. | 8.2 | |

d. | 10 |

9 points

**Question 12 **

What is the interquartile range for the following set of data?

Minimum = 20

Q1 = 30

Median = 50

Q3 = 70

Maximum = 100

a. | 30 | |

b. | 80 | |

c. | 40 | |

d. | 60 |

8 points

**Question 13 **

Data Set A, Data Set B, and Data Set C, have the same population mean of 50. Data set A has a standard deviation of 13. Data Set B a standard deviation of 25. Data Set C a standard deviation of 14. Which data set distribution has the largest spread in the distribution?

a. | Data Set B | |

b. | Data Set C | |

c. | Data Set A | |

d. | None of the above |

9 points

**Question 14 **

Examine the dot plot in the middle of page 87 that is associated with question #48. What is the number of days that 90 Biggie Size soft drinks were sold?

a. | 2 days | |

b. | 8 days | |

c. | 14 days | |

d. | 12 days |

8 points

**Question 15 **

Please use Chart 2-7 on page 43 of your text book. Approximately 25% of vehicles sold for what what amount of profit?

a. | $1800 | |

b. | $1425 | |

c. | $1600 | |

d. | $2300 |

8 points

**Question 16 **

Refer to the following wage breakdown. What is the class midpoint for the wage class with the highest frequency?

Wage ($) Frequency

5-7 14

9-11 15

13-15 28

17-19 22

a. | $15 | |

b. | $19 | |

c. | $6 | |

d. | $14 |

8 points

**Question 17 **

The median value in the following set of numbers is:

54, 76, 30, 18, 46, 82

a. | 49 | |

b. | 50 | |

c. | 46 | |

d. | 49.8 |

9 points

**Question 18 **

The entire set of individuals or objects of interest is also called a ——————?

a. | Tally | |

b. | File | |

c. | Population | |

d. | Sample |

8 points

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