ECON 261 EXAM 1

The middle value in an ordered array of numbers is the _____?

The average of a group of number which is computed by summing all numbers and dividing buy the number of numbers is called the (arithmetic) _____?

The most frequently occurring value in a set of data is the _____?

To describe the spread or dispersion of a set of data is called _____?

The difference between the largest value of a data set and the smallest value of a range is the _____?

The average of the squared deviations about the mean for a set of numbers is the _____?

The square root of the variance is the _____?

For which of central value will the sum of the deviations of each value from the average always be zero?

The relationship between the variance and the standard deviation is:

Variability is measured by:

It is possible for a data set to contain:

The range of a data set is:

Which of the following is referred to as the sample mean?

Which measures of central values are not affected by extremely low or extremely high values?

The range of values of the coefficient of correlation is:

What does it mean if r=-1 for two variables X and Y?

Which of the following measures of dispersion are based on deviation from the mean?

Consider the following sample data set: 4,3,8,7, and 3. The sample mean for this data set is:

Consider the following sample data set: 4,3,8,7, and 3. The median for this data set is:

Consider the following sample data set: 4,3,8,7, and 3. The mode for this data set is:

Consider the following sample data set: 4,3,8,7, and 3. The range for this data set is:

Consider the following sample data set: 4,3,8,7, and 3. The variance for this data set is:

Consider the following sample data set: 4,3,8,7, and 3. The standard deviation for this data set is:

Consider the following sample data set: 4,3,8,7, and 3. The coefficient of variation for the data set is:

Human Resources Department of one hotel reports that annual salaries for its personnel have a mean of $40,000 and a standard deviation of $3,500. If the salaries are SYMMETRICALLY distributed, the interval of salaries representing two standard deviations on either side of the mean is:

Human Resources Department of one hotel reports that annual salaries for its personnel have a mean of $40,000 and a standard deviation of $3,500. What proportion of the salaries is within $3,500 of the mean?

Human Resources Department of one hotel reports that annual salaries for its personnel have a mean of $40,000 and a standard deviation of $3,500. What proportion of the salary is below $33,000?

Human Resources Department of one hotel reports that annual salaries for its personnel have a mean of $40,000 and a standard deviation of $3,500. If the salaries are 5/2 standard deviation of the mean?

Consider the following sample data describing the relationship between the variables X and Y. X = 3,4,6,7 Y = 1,4,5,6 The standard deviation of X and standard deviation of Y are respectively

Consider the following sample data describing the relationship between the variables X and Y. X = 3,4,6,7 Y = 1,4,5,6 The covariance of X and Y is:

Consider the following sample data describing the relationship between the variables X and Y. X = 3,4,6,7 Y = 1,4,5,6 The correlation coefficient of X and Y is:

You can conclude that the relationship between X and Y is: