Introductory Business Statistics International Edition 7th Edition by Ronald M. Weiers-Test Bank

Exam Inventory For Fundamental Business Statistics Global Edition 7th Edition by Ronald M. Weiers

ISBN-053845217X , ISBN-13:978-0538452175

Chapter 3: Statistical Analysis of Information

CORRECT/INCORRECT

1.Correct or Incorrect

Characteristics of the population are labeled as parameters, while features of the sample are recognized as statistics.

ANS: Correct PTS: 1 OBJ: Section 3.1

2.Correct or Incorrect

When a distribution leans to the left with an extended tail to the right, we describe it as negatively asymmetrical.

ANS: Incorrect PTS: 1 OBJ: Section 3.2

3.Correct or Incorrect

When a distribution leans to the right with an extended tail to the left, we describe it as positively skewed.

ANS: Incorrect PTS: 1 OBJ: Section 3.2

4.Correct or Incorrect

The totals for a weighted average computation must add up to 1.0.

ANS: Incorrect PTS: 1 OBJ: Section 3.2

5.Correct or Incorrect

The mode is outlined as the value that has an equal number of elements above and below it.

ANS: Incorrect PTS: 1 OBJ: Section 3.2

6.Correct or Incorrect

Indexes of spread depict standard values within the dataset.

ANS: Incorrect PTS: 1 OBJ: Section 3.3

7.Correct or Incorrect

The midrange is the mean of the two middle data values.

ANS: Incorrect PTS: 1 OBJ: Section 3.3

8.Correct or Incorrect

Percentiles divide the values into 100 segments of uniform size, each comprising 1% of the observations.

ANS: Correct PTS: 1 OBJ: Section 3.3

9.Correct or Incorrect

The average of a sequence of values describes the fiftieth percentile.

ANS: Incorrect PTS: 1 OBJ: Section 3.3

10.Correct or Incorrect

Normalized values lack units, though the original data, the standard deviation, and the average may indicate units such as {dollars}, hours, or pounds.

ANS: Correct PTS: 1 OBJ: Section 3.4

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