Ask Microeconomics Expert

Question 1

To form a __________ we form a ratio between each frequency and the total number of scores in the set.

A. stem-and-leaf display

B. frequency distribution

C. relative frequency distribution

D. frequency polygon

Question 2

Please use the following to answer questions 2-3:

Class Scores Frequency (f)

(lower limit < value < upper limit)

0-20 6

20-40 9

40-60 15

60-80 12

80-100 8

What is the relative frequency of the 20-40 class?

A. 0.30

B. 0.18

C. 0.225

D. 9

Question 3

What is the percent frequency of the 60-80 class?

A. 12%

B. 24%

C. 30%

D. 84%

Question 4

For Questions 4-7, use the following data:

The number of file conversions performed by a processor per day for 10 days was:

15, 27, 25, 28, 30, 31, 22, 25, 27, 29

What is the arithmetic mean of the data?

A. 20.7

B. 25.9

C. 27

D. 29

Question 5

What is the trimmed mean of the data?

A. 22.875

B. 26.625

C. 31.525

D. 34.375

Question 6

What is the median of the data?

A. 26

B. 26.5

C. 27

D. There is no median for this data set.

Question 7

What is the mode of the data?

A. 25

B. 25

C. There is no mode for the data set.

D. The data set is bimodal, with modes of 25 and 27.

Question 8

Sample data on employee age for a large auto parts manufacturer are as follows:

Employee Age Frequency

25-29 25

30-34 33

35-39 62

40-44 26

45-49 31

50-54 8

What is the mean age of the employees?

A. 37

B. 37.32

C. 37.78

D. 38.83

Question 9

A survey of the number of television sets per household in a city yielded the following results:

Number of TV Sets Number of Households

1 400

2 800

3 400

4 100

What is the trimmed mean of the number of televisions per household?

A. 425

B. 200

C. 340

D. 725

Question 10

For questions 10-13, use the following data:

13 29 41 60 89 14 26 53 7 14

What is the arithmetic mean of the data?

A. 20

B. 14

C. 34.6

D. 82

Question 11

What is the range of the data?

A. 14

B. 34.6

C. 82

D. 50

 

Question 12 of 20 5.0 Point

What is the variance of the data?

A. 231.04

B. 616.64

C. 685.16

D. 1,197.16

Question 13

What is the standard deviation of the data?

A. 0.2

B. 26.18

C. 24.83

D. 34.61

Question 14

A probability is always expressed as a value from:

A. 0 and 1.

B. -1 and 1.

C. 0 and 100.

D. 0 and 10.

Question 15

Records at a high school indicate that each year for the past five years, 120 of the 1,500 students were absent on the first day of hunting season. What is the likelihood that a particular student will be absent on the first day of hunting season this year?

A. 0.08

B. 0.12

C. 0.18

D. 0.20

Question 16

A study of a manufacturing process indicates that 120 of 6,000 units produced are defective. If a sampler selected 100 units, how many defective units would he expect to be present?

A. 2

B. 5

C. 6

D. 10

Question 17

Six red balls and four blue balls are placed in a container. What is the probability that the first ball drawn from the container is blue?

A. 0.286

B. 0.40

C. 0.60

D. 0.67

Question 18

Please answer questions 18-19 using the following information:

Class Scores Frequency - f

Lower limit < score < upper limit

20-30 6

30-40 10

40-50 12

50-60 8

60-70 4

What is the probability that a selected observation is between 40 and 50?

A. 0.25

B. 0.30

C. 0.40

D. 0.65

Question 19

What is the probability that a selected observation is greater than 39, but less than 60?

A. 0.20

B. 0.40

C. 0.30

D. 0.50

Question 20

Calculate the range, variance, and standard deviation of the following data set:

5, 5, 6, 6, 6, 8, 8, 8, 8, 10, 10, 11, 12, 12, 20

A. Range = 15; Variance = 225; Standard Deviation = 7.5

B. Range = 3.85; Variance = 14; Standard Deviation = 3.74

C. Range = 20; Variance = 15; Standard Deviation = 4

D. Range = 15; Variance = 14.82; Standard Deviation = 3.85

 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91539550
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Microeconomics

Question show the market for cigarettes in equilibrium

Question: Show the market for cigarettes in equilibrium, assuming that there are no laws banning smoking in public. Label the equilibrium private market price and quantity as Pm and Qm. Add whatever is needed to the mode ...

Question recycling is a relatively inexpensive solution to

Question: Recycling is a relatively inexpensive solution to much of the environmental contamination from plastics, glass, and other waste materials. Is it a sound policy to make it mandatory for everybody to recycle? The ...

Question consider two ways of protecting elephants from

Question: Consider two ways of protecting elephants from poachers in African countries. In one approach, the government sets up enormous national parks that have sufficient habitat for elephants to thrive and forbids all ...

Question suppose you want to put a dollar value on the

Question: Suppose you want to put a dollar value on the external costs of carbon emissions from a power plant. What information or data would you obtain to measure the external [not social] cost? The response must be typ ...

Question in the tradeoff between economic output and

Question: In the tradeoff between economic output and environmental protection, what do the combinations on the protection possibility curve represent? The response must be typed, single spaced, must be in times new roma ...

Question consider the case of global environmental problems

Question: Consider the case of global environmental problems that spill across international borders as a prisoner's dilemma of the sort studied in Monopolistic Competition and Oligopoly. Say that there are two countries ...

Question consider two approaches to reducing emissions of

Question: Consider two approaches to reducing emissions of CO2 into the environment from manufacturing industries in the United States. In the first approach, the U.S. government makes it a policy to use only predetermin ...

Question the state of colorado requires oil and gas

Question: The state of Colorado requires oil and gas companies who use fracking techniques to return the land to its original condition after the oil and gas extractions. Table 12.9 shows the total cost and total benefit ...

Question suppose a city releases 16 million gallons of raw

Question: Suppose a city releases 16 million gallons of raw sewage into a nearby lake. Table shows the total costs of cleaning up the sewage to different levels, together with the total benefits of doing so. (Benefits in ...

Question four firms called elm maple oak and cherry produce

Question: Four firms called Elm, Maple, Oak, and Cherry, produce wooden chairs. However, they also produce a great deal of garbage (a mixture of glue, varnish, sandpaper, and wood scraps). The first row of Table 12.6 sho ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As