1.The table below displays a week's worth of data on daily sales at the Crank It Louder Music Store. ??Over that time period, what was the mean daily level of sales?
A. $3,489.79
B. $4,071.42
C. $1,643.23
D. $2,829.92
2. The table below displays a week's worth of data on daily sales at the Crank It Louder Music Store. ??Over that time period, what was the median daily level of sales?
A. $1,643.23
B. $3,489.79
C. $3,130.46
D. $800.12
3. The histogram below displays the age distribution of the world's billionaires as reported by Forbes Magazine in 2001. ??This distribution is best described as:
A. Approximately normal.
B. Strongly skewed to the right.
C. Bimodal.
D. Approximately uniform.
4) Which of the following correctly ranks from smallest to largest the measures of central tendency of the data displayed in the histogram below?
A. Mode < mean < median.
B. ?Median < mode < mean.
C. Mode < median < mean.
D. ?The answer cannot be determined from the information provided.
5) The scatter diagram below displays the relationship between age and net worth (in US$ billions) for the world's 20 wealthiest people as reported by Forbes Magazine in 2001. ??If 45-year old Bill Gates, the world's wealthiest person, is considered an outlier and removed from the data set, what will be the effect on this relationship?
A. The value of the correlation coefficient will decrease.
B. The value of the correlation coefficient will increase.
C. The value of the correlation coefficient will stay about the same.
D. The correlation will become perfectly linear.
6. The data in the Excel spreadsheet linked below gives the net worth (in US$ billions) and ages of the world's billionaires as reported by Forbes Magazine in 2001. ??The correlation coefficient between age and net worth:
A. Is about 0.00.
B Is greater than 0.5.
C Is less than -0.5.
D The answer cannot be determined from the information given.
7. The data in the Excel spreadsheet linked below gives the average monthly price of gold (in dollars per ounce) for the years 1980 to1983. ??Which of the following statistics measures gold price variation in the same units as gold price itself (i.e., dollars per ounce)?
A. The standard deviation.
B The variance.
C The coefficient of variation.
D None of the above.
8. The data in the Excel spreadsheet linked below gives the average monthly price of gold (in dollars per ounce) for the years 1980 to 1983. ??In which of the years was the coefficient of variation of gold price the highest?
A 1980
B 1981
C 1982
D 1983
9. bizneznuz.com, an online business news agency, conducts a poll. Visitors to the site are invited to click on one of two buttons in order to register that they "agree" or "disagree" with the following statement: "Funding for space exploration should be left entirely to the private sector." ??If bizneznuz.com wants to accurately measure its online readership's support for government-funded space exploration, this poll will deliver a biased and unrepresentative response because:
A The pool of respondents is self-selected.
B All respondents have internet access.
C bizneznuz.com targets mainly the business community.
D All of the above.
10. A researcher wants to collect data about the study habits of sophomores at Harmond University. From the sophomore class of 2,300 students, she wants to collect a sample of 70 students. ??Which of the following sampling methods will yield the most representative sample?
A. Assigning each sophomore a number and then randomly generating 70 numbers from that list.
B Randomly selecting 70 sophomores entering the university's main library on a randomly selected evening.
C Selecting the 70 sophomores whose grade point averages (GPA) fall closest to the mean GPA of the sophomore class.
D Randomly selecting 70 sophomores who are members of college fraternities.
78831185_143_objectives_problems.docx