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Measures of Dispersion in Business Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. In recent versions of Excel (2010 and higher), which function should you use to calculate variance for a set of data?

Question 2 2. The function STANDARDIZE requires which three data elements?

Question 3 3. Which of the following Excel functions will give you the variance of the population as a whole, versus individual elements?

Question 4 4. _____ of normally distributed data is always contained within 2 standard deviations of the mean.

Question 5 5. _____ of normally distributed data is always contained within 1 standard deviation of the mean.

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Question 6 6. Six Sigma seeks to limit errors to occur only outside of _____ standard deviations.

Question 7 7. 'Variance' is similar to 'standard deviation' in all the following ways EXCEPT:

Question 8 8. Range, standard deviation, and variance are 'similar' in that each looks at

Question 9 9. Professor Dublin wants to ensure he is thorough in his review of student performance, so he decides to calculate 'standard deviation' as well. What must Professor Dublin do to figure out this measure of variability?

Question 10 10.

Find the variance for the following data set:

16, 20, 14, 24, 16, 19, 30, and 8

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Question 11 11.

Find the standard deviation for the following data set:

101, 106, 125, 142, 78, and 109

Question 12 12.

Find the variance for the following data set:

101, 106, 125, 142, 78, and 109

Question 13 13. When calculated for a normal distribution, how do the values for Chebyshev's theorem compare to the 68-95-99.7 rule of thumb?

Question 14 14. What attribute of data is quantified using Chebyshev's inequality?

Question 15 15. What type of data distribution is not appropriate to use with Chebyshev's inequality?

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Question 16 16. What attribute is measured by an analysis of the variance found in yearly investment returns?

Question 17 17. What is the difference between variance computed for sampled data and full population data?

Question 18 18. What is the variance that would be calculated from 5 data points that all had the same value?

Question 19 19. There are 30 students in Alice's math class. If the students' marks on the last test exhibit a normal distribution, and the average grade was 75%, then how many students scored within one standard deviation of 75%?

Question 20 20. The mean of a graph with a normal distribution is located where?

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Question 21 21. What percentage of the data is within three standard deviations to the left and right of the middle of a graph with a normal distribution?

Question 22 22. In a business context, normally distributed data can be used to accomplish all of the following EXCEPT:

Question 23 23. When plotted data points fall primarily inside the boundaries of this chart (sometimes called a bell curve), it is indicative that the data can be characterized as _____.

Question 24 24. Which statement about these two datapoints is TRUE?

Question 25 25. Where is the normal distribution curve at its highest point?

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Question 26 26. Which has the lowest area under it?

Question 27 27. What is a Z-score?

Question 28 28. If the standard deviation is 5, the mean is 40, and the value in question is 45, then what is the Z-score?

Question 29 29. Negative Z-scores appear on the _____ side of the normal distribution.

Question 30 30. Which side of the normal distribution does the positive Z-score appear on?

Measures of Dispersion in Business Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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