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Business Statistics
Chapter 3 Test
10
Business
Undergraduate 3
02/16/2010

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Term
True/False The owner of a local gasoline station has kept track of the number of gallons of regular unleaded sold at his station every day since he purchased the station. This morning, he computed the mean number of gallons. This value would be considered a statistic.
Definition
False
Term
True/False TThe Parks and Recreation manager for the city of Detroit recently submitted a report to the city council in which he indicated that a random sample of 500 park users indicated that the average number of visits per month was 4.56. This value should be viewed as a statistic by the city council.
Definition
True
Term
True/False If after graphing the data for a quantitative variable of interest, you notice that the distribution is highly skewed in the positive direction, the measure of central location that would likely provide the best assessment of the center would be the median.
Definition
True
Term

You are given the following data:

23 34 11 40 25 47

True/False Assuming that the data reflect the population of interest, the mean of the population is 36.00.

Definition
False
Term
True/ False When news articles report on household income level they usually report the median income, rather than the mean income. This would be because income is usually a right skewed distribution.
Definition
True
Term
You are given the following data:

23 34 11 40 25 47

True/ False Assuming that these data are a sample selected from a larger population, the median value for these sample data is 25.5
Definition
False
Term
Suppose a study of houses that have sold recently in your community showed the following frequency distribution for the number of bedrooms:
Bedrooms Frequency
1 1
2 18
3 140
4 57
5 11
True/False Based on this information, the mode for the data is 140.
Definition
False
Term
True/False In a recent study of the sales prices of houses in a midwestern city, the mean sales price has been reported to be $167,811 while the median sales price was $155,600. From this information, you can determine that the data involved in the study are left-skewed.
Definition
False
Term
True/False When analyzing annual incomes of adults in a market area, the marketing manager’s report indicated that the 90th percentile is $123,400. That means that 90 percent of the adult incomes in the market area fall at or below $123,400.
Definition
True
Term
True/False Data is considered to be right skewed when the mean lies to the right of the median.
Definition
True
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