Main purpose of descriptive statistics

Assignment Help Accounting Basics
Reference no: EM13787096

1) The main purpose of descriptive statistics is to

A. summarize data in a useful and informative manner
B. make inferences about a population
C. determine if the data adequately represents the population
D. gather or collect data

2) The general process of gathering, organizing, summarizing, analyzing, and interpreting data is called

A. statistics
B. descriptive statistics
C. inferential statistics
D. levels of measurement

3) The performance of personal and business investments is measured as a percentage, return on investment. What type of variable is return on investment?

A. Qualitative
B. Continuous
C. Attribute
D. Discrete

4) What type of variable is the number of robberies reported in your city?

A. Attribute
B. Continuous
C. Discrete
D. Qualitative

5) What level of measurement is the number of auto accidents reported in a given month?

A. Nominal
B. Ordinal
C. Interval
D. Ratio

6) The names of the positions in a corporation, such as chief operating officer or controller, are examples of what level of measurement?

A. Nominal
B. Ordinal
C. Interval
D. Ratio

7) Shoe sizes, such as 7B, 10D, and 12EEE, are examples of what level of measurement?

A. Nominal
B. Ordinal
C. Interval
D. Ratio

8) Monthly commissions of first-year insurance brokers are $1,270, $1,310, $1,680, $1,380, $1,410, $1,570, $1,180, and $1,420. These figures are referred to as

A. a histogram
B. raw data
C. frequency distribution
D. frequency polygon

9) A small sample of computer operators shows monthly incomes of $1,950, $1,775, $2,060, $1,840, $1,795, $1,890, $1,925, and $1,810. What are these ungrouped numbers called?

A. Histogram
B. Class limits
C. Class frequencies
D. Raw data

10) The sum of the deviations of each data value from this measure of central location will always be 0

A. Mode
B. Mean
C. Median
D. Standard deviation

11) For any data set, which measures of central location have only one value?

A. Mode and median
B. Mode and mean
C. Mode and standard deviation
D. Mean and median

12) A sample of single persons receiving social security payments revealed these monthly benefits: $826, $699, $1,087, $880, $839, and $965. How many observations are below the median?

A. 0
B. 1
C. 2
D. 3

13) A dot plot shows

A. the general shape of a distribution
B. the mean, median, and mode
C. the relationship between two variables
D. the interquartile range

14) The test scores for a class of 147 students are computed. What is the location of the test score associated with the third quartile?

A. 111
B. 37
C. 74
D. 75%

15) The National Center for Health Statistics reported that of every 883 deaths in recent years, 24 resulted from an automobile accident, 182 from cancer, and 333 from heart disease. Using the relative frequency approach, what is the probability that a particular death is due to an automobile accident?

A. 24/883 or 0.027
B. 539/883 or 0.610
C. 24/333 or 0.072
D. 182/883 or 0.206

16) If two events A and B are mutually exclusive, what does the special rule of addition state?

A. P(A or B) = P(A) + P(B)
B. P(A and B) = P(A) + P(B)
C. P(A and/or B) = P(A) + P(B)
D. P(A or B) = P(A) - P(B)

17) A listing of all possible outcomes of an experiment and their corresponding probability of occurrence is called a

A. random variable
B. probability distribution
C. subjective probability
D. frequency distribution

18) The shape of any uniform probability distribution is

A. negatively skewed
B. positively skewed
C. rectangular
D. bell shaped

19) The mean of any uniform probability distribution is

A. (b - a)/2
B. (a + b)/2
C. Σ x/ η
D. nπ

20) For the normal distribution, the mean plus and minus 1.96 standard deviations will include about what percent of the observations?

A. 50%
B. 99.7%
C. 95%
D. 68%

21) For a standard normal distribution, what is the probability that z is greater than 1.75?

A. 0.0401
B. 0.0459
C. 0.4599
D. 0.9599

22) A null hypothesis makes a claim about a

A. A null hypothesis makes a claim about a
B. sample statistic
C. sample mean
D. Type II error

23) What is the level of significance?

A. Probability of a Type II error
B. Probability of a Type I error
C. z-value of 1.96
D. Beta error

24) Suppose we test the difference between two proportions at the 0.05 level of significance. If the computed z is -1.07, what is our decision?

A. Reject the null hypothesis
B. Do not reject the null hypothesis
C. Take a larger sample
D. Reserve judgment

25) Which of the following conditions must be met to conduct a test for the difference in two sample means?

A. Data must be at least of interval scale
B. Populations must be normal
C. Variances in the two populations must be equal
D. Data must be at least of interval scale and populations must be normal

26) Which of the following statements about the two sample sizes is NOT true? Assume the population standard deviations are equal.

A. Sample A = 11; sample B = 13
B. Sample A = 12; sample B = 14
C. Sample A = 13; sample B = 13
D. Sample A = 10; sample B = 16

27) What is the chart called when the paired data (the dependent and independent variables) are plotted?

A. Scatter diagram
B. Bar chart
C. Pie chart
D. Histogram

28) What is the variable used to predict the value of another called?

A. Independent variable
B. Dependent variable
C. Correlation variable
D. Variable of determination

29) Twenty randomly selected statistics students were given 15 multiple-choice questions and 15 open-ended questions, all on the same material. The professor was interested in determining on which type of questions the students scored higher. This experiment is an example of

A. a one sample test of means
B. a two sample test of means
C. a paired t-test
D. a test of proportions

30) The measurements of weight of 100 units of a product manufactured by two parallel processes have same mean but the standard of process A is 15 while that of B is 7. What can you conclude?

A. The weight of units in process A are grouped closer than in process B
B. The weight of units in process B are grouped closer than in process A
C. Both processes are out of control
D. More data is needed to draw a conclusion

Reference no: EM13787096

Questions Cloud

Discuss the corporate ethical issues : Discuss the suggestions submitted in the suggestions box in light of the decision that George must make. Should the suggestions have an influence?
Measuring crime involves tracking statistics : Measuring crime involves tracking statistics such as demographic information and moderator variables related to the crimes. Moderator variables are any third variable in a correlation that affects the relationship between the first two variables. ..
Prepear a presentation about developing relationship : Prepear a Power Point Presentation about Developing Relationships by Dee Lamb.
Problems related to market analysis : What three steps or techniques would you recommend a new entrepreneur take so that market overestimation doesn't occur?
Main purpose of descriptive statistics : 1) The main purpose of descriptive statistics is to
Consider an ethical issue faced by american businesses : Consider an ethical issue faced by American businesses in the international arena. What are the ethical issues involved? If the issue was domestic, what would the proper solution be?
Examine the jury selection process : Research the case you have selected, and in this paper examine the jury selection process, jury sequestration, jury verdict and the controversies relevant to the jury verdict
Problems related to cash management : Identify three creative kinds of business relationships/financing arrangements that can be used to help manage cash in a small firm
Explain how the crime scene was secured : How the crime scene was secured, How the evidence was collected and How the evidence was analyzed - including the processes and what tools were used

Reviews

Write a Review

Accounting Basics Questions & Answers

  Personal property and business property

John's car was completely destroyed by a fire in 2010. Its cost and fair market value were $8,000. John's claim against insurance was $3,000 and was NOT made until 2011. The following year, 2011, John settled with the insurance company for $2,000. Wh..

  Colasuonno corporation has two divisions the west division

colasuonno corporation has two divisions the west division and the east division. the corporations net operating income

  Pascal inc is planning to sell 800000 units for 150 per

pascal inc. is planning to sell 800000 units for 1.50 per unit. the contribution margin ratio is 20. if pascal will

  Would a storage unit used to store a product a company

would a storage unit used to store a product a company manufactures count as overhead? what about an annual contract

  Describe the pros and cons of keeping sign up comprising

there have been a series of burglaries in the local area where you live. you get to work and see that your boss has

  Determination of taxable gifts in the current year beth

determination of taxable gifts. in the current year beth who is single sells stock valued at 40000 to linda for 18000.

  Hal gore won a 1 million prize for special contributions to

hal gore won a 1 million prize for special contributions to environmental research. this prize is awarded for public

  On january 1 2013 nichols corporation granted 10800 options

on january 1 2013 nichols corporation granted 10800 options to key executives. each option allows the executive to

  Veronica borrowed 5000 from her uncle and the agreed upon

veronica borrowed 5000 from her uncle and the agreed upon interest rate is 4 annually ear and compounds monthly?a. what

  Problem regarding shares of no-par common stock

Pinson Corporation was organized on January 1, 2010. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were ..

  Explain how the accounting equation is impacted

Develop the adjusting entry. (1) name the accounts impacted and how using the formal account name/debit or credit/dollar amount and (2) explain how the Accounting Equation is impacted.

  Maxson products distributes a single product a woven basket

maxson products distributes a single product a woven basket whose selling price is 8 and whose variable cost is 6 per

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd