An Internetstudy asked respondents to indicate

Page 1 of 6 There are 20problems each is worth 2 points. Total 40 points01. An Internetstudy asked respondents to indicate their education level on the following scale:Less than High School, High School, Some College, College +. Which of the followingstatements is (are) true?A.B.C.D.E. Education level is a qualitative variable.Education level is nominal scaled.Education level is ordinal scaled.Both A and BBoth A and C Consider the following to answer the next two questions:Consumer Reports Health routinely compares drugs in terms of effectiveness and safety. Insummer 2008 they reviewed drugs used to treat arthritis. Among the information reported wasconvenience of use (how many pills required each day) and possible side effects (e.g., dizziness,stomach upset).02. In the Consumer Reports Health study on arthritis drugs, possible side effects is what kind ofvariable?A.B.C.D.E. Quantitative.QualitativeeNominal.Both A and C.Both B and C. 03. The Consumer Reports Health study on arthritis drugs also took into consideration cost.Cost isA. is a nominal variable.B. is a qualitative variable.C. is a quantitative variable.D. is a random variable.E. is an irrelevant variable. 04. To avoid working late, a quality control analyst simply inspects the first 100 items producedin a day. This sampling plan is calledA. randomB. stratifiedC. systematic Page 2 of 6 D. clusterE. convenience05. Suppose that a company has an alphabetized list of regular customers who belong to theirrewards program. They plan to survey a sample of 120 of those customers. After randomlyselecting a customer on the list, every 25th customer from that point on is chosen to be in thesample. This sampling plan is calledA.B.C.D.E. Simple Random Sampling.Stratified Sampling.Cluster Sampling.Systematic Sampling.Convenience Sampling 06. An exit poll in a large city is conducted by surveying everyone who leaves the polling boothat 10 randomly selected election precincts. What type of sampling is being used?A. randomB. stratifiedC. systematicD. clusterE. convenience07. Temperature measured in degrees Centigrade or Fahrenheit is an example of a variable thatusesA. the ratio scaleB. the interval scaleC. the ordinal scaleD. the nominal scaleE. none of the aboveUse the following boxplots to answer the next two questions:Boxplots of earnings per share (EPS) data for a sample of retail company stocks and a sample ofenergy company stocks are shown below. Page 3 of 6 Boxplot of Retail, Energy2 Data 1 0 -1 -2Retail Energy 08.Which of the following statements is correct?A.The median EPS is higher for energy stocks compared to retail stocks.B.The median EPS is higher for retail stocks compared to energy stocks.C.The IQR for the EPS data is larger for retail stocks than for energy stocks.D.The EPS data are more variable for retail stocks than for energy stocks.E.The mean is higher for energy stocks compared to retail stocks.09.Which of the following statement is true about the distributions of EPS for retail and energystocks?A.The distribution of EPS for retail stocks is skewed to the right.B.The distribution of EPS for energy stocks is symmetric.C.Both distributions of EPS are symmetric.D.The distribution of EPS for retail stocks is skewed to the left.E.The distribution of EPS for energy stocks is skewed to the left.10. The measure of central location which is most likely to be influenced by extreme values isA. the rangeB. the medianC. the meanD. the modeE. the IQR11. One of the most widely used measures of dispersion isA. the meanB. the rangeC. the z-score Page 4 of 6 D. the standard deviationE. the IQR12. What graph should be used to show the relationship between the parts and the whole?A. a histogramB. a pie chartC. a bar chartD. a box plotE. a dot plotUse the data in the table below to answer the next four questions.The table below shows closing share prices for a small sample of companies….PANY3M Dental ProductsTyco Electronics Power SystemsKyocera America Inc.Pfizer Inc.Xerox CompanyNorthrop Grumman CorporationLockheed Martin Maritime SystemsSony DADCMatsushita Electronic ComponentsFoster Wheeler Environmental Corp. CLOSING SHARE PRICE – 08/0786.9547.4594.1022.3917.5675.81100.1751.9117.9155.67 13. The mean closing share price isA. $29.82B. $31.43C. $56.99D. $62.19E. None of the above14. The median closing share price isA. 49.68B. 46.69C. 75.81D. 53.79E. None of the above15. The standard deviation in closing share prices isA.$31.43B.$29.82C.$56.99 Page 5 of 6 D.$62.19E.None of the above16. The z score for the share price for Matsushita Electronic Components isA.1.24B.2.34C.-2.34D.-3.00E.-1.24Consider the following to answer the next four questions:A full service brokerage firm gathered information on how their clients were investing forretirement. Based on age, clients were categorized according to where the largest percentage oftheir retirement portfolio was invested and shown in the table below.Age 50 or Younger Over age 50 Total Mutual Funds 30 34 64 Stocks 37 45 82 Bonds 19 23 42 Total 86 102 188 17. Of the clients over age 50, the percentage who invest in mutual funds isA. 53.1%B. 33.3%C. 18.1%D. 34.0%E. 54.3%18. Of the clients who invest in mutual funds, the percentage over age 50 isA. 53.1%B. 33.3% Page 6 of 6 C. 18.1%D. 34.0%E. 54.3%19. The percentage of clients over age 50 isA. 53.1%B. 33.3%C. 18.1%D. 34.0%E. 54.3%20. The test scores of a sample of 40 students are summarized in the frequency distributionbelow. Find the standard deviation s.Score Students 50 – 5960 – 6970 – 7980 – 8990 – 99 6111256 A 11.43B 12.56C 12.72D 13.35E None of the above

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