Business Analysis Statistics Test #5

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A unique kind of index number is —————.

Correct! Wrong!

The correct answer:
A unique kind of average is an index number.

The measurements required to determine the variation between the observations in the variable's unit are known as:

Correct! Wrong!

Explanation:
The same unit is used in an absolute measure of dispersion as it is in the original data set. The absolute dispersion approach describes fluctuations as the mean of observations' standard or mean deviations. Range, standard deviation, quartile deviation, etc. are included.

The numbers are 78, 56, 22, 34, 45, 54, 39, 68, 54, and 84. What is the median?

Correct! Wrong!

The correct answer:
54

Which of the following best describes the dispersion in an absolute sense?

Correct! Wrong!

Explanation:
The square root of the variance is used to calculate the standard deviation, a statistic that expresses how widely distributed a dataset is in relation to its mean.

Which of the following is not utilized to summarize data in a five-number summary?

Correct! Wrong!

Explanation:
First or lower quartile is another name for the 25th percentile. The value at which 25% of the answers fall below it and 75% of the responses fall above it is known as the 25th percentile. The median is another name for the 50% percentile. The data set is divided in half by the median.

The only two observations required for the dispersion measure are:

Correct! Wrong!

The correct answer:
Range

A measure of is a single value that attempts to describe a set of data by identifying the central position within that set of

Correct! Wrong!

Explanation:
"The statistical metric that identifies a single value as representative of an entire distribution" is the definition of central tendency. [2] It strives to give a precise account of all the facts. It is the lone value that best typifies or reflects the information gathered.

A sequence of values scattered around the average are referred to as:

Correct! Wrong!

Explanation:
The statistical concept of dispersion, which can be quantified by a number of different statistics including range, variance, and standard deviation, refers to the size of the distribution of values anticipated for a given variable.

When the median is 13 and the mean is 11, the mode value is

Correct! Wrong!

The correct answer:
17

For qualitative data, the ideal average is

Correct! Wrong!

Explanation:
A dataset listed in ascending order is given a median value using a statistical technique.

What average's sum of deviations equals zero?

Correct! Wrong!

Explanation:
The sum of the standard deviations is 0. The total of the deviations below the mean will always equal the sum of the deviations above the mean because this is a characteristic of the sample mean.

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