Title | Test quiz 1 - Quiz for connect assignment Quiz worth |
---|---|
Author | Harpreet Singh |
Course | Corporate Finance 1 |
Institution | Centennial College |
Pages | 21 |
File Size | 621.1 KB |
File Type | |
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Quiz for connect assignment Quiz worth...
1 What is the level of measurement for each of the following variables? a . b . c . d . e .
Number of hours students study per week.
Ratio Correct
Dog breeds.
Nominal Correct
Your place in the competition.
Ordinal Correct
Nicknames of chat users.
Nominal Correct
Student IQ (intelligence quotient) ratings. Interval
2. A company conducts a survey of a large number of college undergraduates for information on the following variables: the brand of their bicycle (Argon 18 Author and so on) the number of bicycles bought last 5 years (2 3 for example) and their satisfaction with the brand (Bad Normal Good and so on).
What is the level of measurement for each of these three variables? Level of measurement The brand of their bicycle Nominal Correct The number of bicycles Ratio Correct Satisfaction with the brand Ordinal 3. For the following variables, classify each as discrete or continuous
qualitative or quantitative, and determine the level of measurement: a Salary. .
continuous
b Gender. .
non-numeric
Sales cvolume of . MP3 players. Rating dof a new . movie. e Temperat
ratio quantitative
qualitative
discrete
nominal
ratio quantitative
non-numeric
ordinal qualitative
. ure.
continuous
quantitative
interval
4. In a marketing study, 100 consumers were asked to select the best digital
music player from the iPod, the iRiver, and the Magic Star MP3. To summarize the consumer responses with a frequency table, how many classes would the frequency table have? 3 classes Explanation Three classes are needed, one for each player.
5. The National Household Survey conducted by Statistics Canada in 2011 reports:
Aboriginal Identity First Nations Metis Inuit Other Multiple identities
Number 851 560 451 795 59 445 26 475 11 415
a. Not available in Connect. b. Add relative frequencies to the table. (Round the final answers to 3 decimal places.) Aboriginal Identity First Nations Metis Inuit Other Multiple identities
Relative Frequency 0.608 0.323 0.042 0.019 0.008
c. What will be the percentage values to draw the pie chart for the above data? (Round the final answers to 1 decimal place.)
Aboriginal Identity First Nations Metis Inuit Other Multiple identities
Percent 60.8 % 32.3 % 4.2 % 1.9 % 0.8 %
Explanation b. Aboriginal Identity First Nations Metis Inuit Other Multiple identities
Number 851 560 451 795 59 445 26 475
Relative Frequency 0.608 0.323 0.042 0.019
Percen t 60.8 32.3 4.2 1.9
11 415
0.008
0.8
6. Wellstone Inc. produces and markets replacement covers for cell phones in
a variety of colours. The company would like to allocate its production plans to five different colours: bright white, metallic black, magnetic lime, tangerine orange, and fusion red. The company set up a kiosk in the Qwanlin Mall for several hours and asked randomly selected shoppers which colour they preferred for a cell phone cover. The results follow: Type Number Bright white 130 Metallic black 104 Magnetic lime 325 Tangerine orange 455 Fusion red 286 Total
1300
a. Not available in Connect. b. Add relative frequencies to the table. (Round the final answers to 2 decimal places.) Type
Relative frequencies
Bright white Metallic black Magnetic lime Tangerine orange Fusion red Total
0.10 0.08 0.25 0.35 0.22 1.00
c. What will be the percentage values to draw the pie chart for the above data? (Round the final answers to the nearest whole number.) Type Bright white Metallic black Magnetic lime Tangerine orange Fusion red
Percentage 10 % 8 25 35 22
% % % %
7. Shown below are the student loan amounts for 2014 for eight students in
the business administration program. Develop a bar chart for the data, and summarize the results in a brief report. Name Amount ($) Susan Chan $6087 Sam Simone 4747 Mary Suhanic 3272 Danielle Brothers 3284 Daniel Ng 3228 Erin Brooks 2828 Jasmine Smith 2492 Enrique Lopes 2347
Susan Chan's loan is the largest. Enrique Lopes's loan is the smallest. The difference between the largest and the smallest loan is $ 3,740 . Explanation
8. A set of data consists of 38 observations. How many classes would you
recommend for the frequency distribution? 6 classes Explanation 25 = 32, 26 = 64; therefore 6 classes
9. A set of data consists of 45 observations between $0 and $29.
How many classes would you recommend for the frequency distribution? 6 What class interval would you recommend? (Round the final answer to the nearest whole number.) 5 Explanation
25=32 and 26=64 suggest 6 classes. i≥$29−$06=4.83: use interval of 5.
10 . A set of data contains 53 observations. The lowest value is 42 and the
largest is 129. The data are to be organized into a frequency distribution. a. How many classes would you suggest? 6
b. What would you suggest as the lower limit of the first class? 40 Explanation a. 25 = 32 and 26 = 64 suggest 6 classes. b.
i≥129−426=14.5i≥129−426=14.5 Use interval of 15 and start first class at 40.
11. The
Wachesaw Manufacturing Co. produced the following number of units in the last 16 days: 2727272827252528 2628262831302626
The information is to organized into a frequency distribution. a. How many classes would you recommend? 5 b. What class interval would you suggest? (Round the final answer to 1 decimal place.) 1.5 c. What lower limit would you recommend for the first class? 24 d. Organize the information into a frequency distribution and determine the relative frequency distribution. (Round the final answers to 3 decimal places.) Units FrequencyRelative frequency 24 to under 25.5 2 0.125 25.5 to under 27 4 0.250
27 to under 28.5 28.5 to under 30 30 to under 31.5 Total
8 0 2 16
0.500 0.000 0.125 1.000
e. Comment on the shape of the distribution. The largest concentration is in the 27 up to 28.5 frequency ( 8 ). Explanation a. 24 = 16 suggests 5 classes b. 6/5 = 1.2: use interval of 1.5. e. The largest concentration is in the 27 up to 28.5 class (8).
12. The Quick Change Oil Company has a number of outlets. The numbers of oil changes at the Oak Street outlet in the past 20 days are as follows:
65985562795951907256 70626680947963737185
The data are to be organized into a frequency distribution using 5 classes. b. What class interval would you suggest? (Round the final answer to the nearest whole number.) 10 c. What lower limit would you recommend for the first class? 50 d. Organize the information into a frequency distribution and determine the relative frequency distribution. (Round the "Relative frequency" answers to 2 decimal places.)
Units FrequencyRelative frequency 50 to under 60 4 0.20 60 to 70 to 80 to 90 to Total
under under under under
70 80 90 100
5 6 2 3 20
0.25 0.30 0.10 0.15 1.00
e. Comment on the shape of the distribution. (Enter the intervals in ascending order.) The greatest concentration is in classes 60 up to 70 and 70 up to 80 . Explanation b.
i≥98−515=9.4i≥98−515=9.4 Use interval of 10. e. The fewest number is about 50, the highest about 100. The greatest concentration is in classes 60 up to 70 and 70 up to 80.
13. The
food services division at Cedar River Amusement Park is studying the amount families who visit the amusement park spend per day on food and beverages. A random sample of 40 families who visited the park yesterday revealed they spent the following amounts:
$771863843854505954563626503444 415858535162435253636262656152 60604566837163586171
a. Organize the data into a frequency distribution, using seven classes and 15 as the lower limit of the first class. What class interval did you select? (Round the final answer to the nearest whole number.) 10 b. Where do the data tend to cluster? (You may select more than one answer. Single click the box with the question mark to
produce a check mark for correct answers and double click the box with the question mark to empty the box for wrong answers.) check all that apply 2 35 to under 45unchecked 45 to under 55checked 65 to under 75unchecked 55 to under 65checked 75 to under 85unchecked c. Not available in Connect d. Determine the relative frequency distribution. (Round the final answers to 3 decimal places.) $ Spent
Relative Frequency
15 to under 25
0.025
25 to under 35
0.050
35 to under 45
0.125
45 to under 55
0.250
55 to under 65
0.375
65 to under 75
0.100
75 to under 85
0.075
Total
1.000
Explanation a.
i≥84−157=9.9i≥84−157=9.9 An interval of 10 is more convenient to work with. b. Data tends to cluster in classes 45 to under 55 and 55 to under 65. d.
$ Spent 15 to under 25
Percent of Total Relative Frequency 2.5
0.025
25 to under 35
5.0
0.050
35 to under 45
12.5
0.125
45 to under 55
25.0
55 to under 65
37.5
0.375
65 to under 75
10.0
0.100
75 to under 85
7.5
Total
100.0
0.250
0.075
1.000
14. The
following chart shows the number of patients admitted daily to Memorial Hospital through the emergency room:
a. What is the midpoint of the 2 up to 4 class? 3 b. How many days were 2 up to 4 patients admitted? 26 ± 2 c. Approximately how many days were studied? 84 ± 2
d. What is the class interval? 2 e. What is this chart called? Frequency polygon
15. The following frequency distribution reports the number of frequent flier miles, reported in thousands, for employees of Brumley Statistical Consulting Inc. during the most recent quarter: Frequent Flier Miles (thousands) Number of Employees 0 to under 3 5 3 to under 6 12 6 to under 9 23 9 to under 12 8 2 12 to under 15 50 Total
a. How many employees were studied? 50 b. What is the midpoint of the first class? (Round the final answer to 1 decimal place.) 1.5 thousand miles c. Not available in Connect. d. A frequency polygon is to be drawn. What are the coordinates of the plot for the first class? (Round the final x value to 1 decimal place and y value to whole number.) x = 1.5 , y = 5
e. Not available in Connect. f. Interpret the frequent flier miles. Most between 6000-9000 , even spread on both sides
16. Stop-One.com, a large Internet retailer, is studying the lead time (elapsed time between when an order is placed and when it is filled) for a sample of recent orders. The lead times are reported in days. Lead Time (days) Frequency 0 to under 5 6 5 to under 10 7 10 to under 15 12 15 to under 20 8 7 20 to under 25 40 Total
a. How many orders were studied? 40 b. What is the midpoint of the first class? (Round the final answer to 1 decimal place.) 2.5 c. What are the coordinates of the first class for a frequency polygon assuming we draw a frequency polygon using the midpoints? (Round the final x value to 1 decimal place and y value to whole number.) x = 2.5 , y = 6 d. Not available in Connect. e. Not available in Connect. f. Interpret the lead times.
Most orders take around 10-15 days. Explanation c. 2.5, 6 (always draw a frequency polygon using the midpoints)
17. The following chart shows the selling price, in thousands of dollars, of houses sold last month in Corner Brook, Newfoundland:
a. How many homes were studied? 200 ± 1 b. What is the class interval? 50 c. One hundred homes sold for less than what amount? $ 175,000 ± 10000 approximately. d. About 75% of the homes sold for less than what amount? $ 240,000 ± 10000 approximately. e. Estimate the number of homes in the $150,000 up to $200,000 class. 60 ± 5 f. About how many homes sold for less than $225,000?
130 ± 10
18. Stop-One.com, a large Internet retailer, is studying the lead time (elapsed time between when an order is placed and when it is filled) for a sample of recent orders. The lead times are reported in days. Lead Time (days) Frequency 0 to under 5 6 5 to under 10 7 10 to under 15 12 15 to under 20 8 7 20 to under 25 40 Total
a-1. How many orders were filled in less than 10 days? 13 a-2. How many orders were filled in less than 15 days? 25 b. Convert the frequency distribution to a less-than cumulative frequency distribution.
5
Lead Time Frequency 0 to under 6 5 to under
10 10 to under 15 15 to under 20 20 to under 25
Cumulative Frequency Less than 6
7
13
12
25
8
33
7
40
c. Not available in Connect.
d. About 60% of the orders were filled in less than how many days? 14 ± 1 days 19. The first row of a stem-and-leaf chart appears as follows: 62 | 1 3 3 7 9. Assume whole number values. a. What is the “possible range” of the values in this row? 621 to 629 b. How many data values are in this row? 5 c. List the actual values in this row of data. 621 , 623 , 623 , 627 , 629
20. The following stem-and-leaf chart reports the number of movies rented per day at Video Connection: 126 131 146 155 163 172 182 191 200 212 227 230 248 251 26 270
8 2 8 8 5 4 6 3 3 2 8 0
9 3 8 9 9 5 8 4 4 3 9 1
6 8 5 6 6 7 9 9 7 9
3
a. How many days were studied?
50 b. How many observations are in the last class? 1 c. What are the smallest and the largest values in the entire set of data? 126 , 270 d. List the actual values in the fourth row. 155 , 158 , 159 e. Not available in Connect. f. On how many days were less than 160 movies rented? 13 g. On how many days were 220 or more movies rented? 12 h. What is the middle value? 193.5 i. On how many days were between 170 and 210 movies rented? 19
21. The number of Olympic medals won by Canada in the last five Winter games is listed below. Year
Number of Medals
2014 2010 2006 2002 1998
25 26 24 17 15
Using appropriate chart or graph write a brief report summarizing the information. Canada won the most medals in 2010 at 26 , but 2014 is a very close second with 25 medals won.
22. The following data give the weekly amounts spent on groceries for a sample of households: $271363159 76227337295319250 279205279266199177162232303 192181321309246278 50 41335 116100151240474297170188320 429294570342279235434123325
a. How many classes would you recommend? Number of classes
6
b. What class interval would you suggest? Class interval
90
c. What would you recommend as the lower limit of the first class? Lower limit of the first class
40
d. Organize the data into a frequency distribution. 40 130 220
Class to under to under to under
Frequency 130 6 220 10 310 17
310 400 490
to under to under to under
400 490 580
8 3 1 45
Total Explanation a. 6 because 25 = 32 < 45 and 26 = 64 > 45 b.
90,found by 570−416= 88.17
23. The
Saskatoon Credit Union selected a sample of 40 student chequing accounts. Below are their end-of the-month balances, in dollars: $ 404 87 703 968
74 234 125 712
234 68 350 503
149 489 440 489
279 57 37 327
215 185 252 608
123 141 27 358
55 758 521 425
43 72 302 303
321 863 127 203
a. Tally the data into a frequency distribution using $100 as a class interval and $0 as the starting point. Balance FrequencyCumulative Frequency 0 to under 100 9 9 100 to under 200 6 15 200 to under 300 6 21 300 to under 400 6 27 400 to under 500 5 32 500 to under 600 2 34 600 to under 700 1 35 700 to under 800 3 38 800 to under 900 1 39 900 to under 1000 1 40 Total
40
b. Not available in Connect. c. The bank considers any student with an ending balance of $400 or more a "preferred customer." Estimate the percentage of preferred customers. (Round up the answer to the nearest whole percentage.) Percentage
33 %
d. The bank is also considering a service charge to the lowest 10% of the ending balances. What would you recommend as the cutoff point between those who have to pay a service charge and those who do not? Less than $50 Explanation a. Probably a class interval of $200 would be better. c. About 67% have less than a $400 balance. Therefore, about 33% would be considered "preferred." d. Less than $50 would be a convenient cutoff point.
The following chart summarizes the selling price of homes sold last month:
24.
a. What is the chart called? Less-than Cumulative frequency polygon b. How many homes were sold during the last month?
The number of homes sold is
250
c. What is the class interval? The class interval is
50
d. About 75 percent of the houses sold for less than what amount? The amount is
$ 240,000 ± 10000
e. One hundred seventy-five of the homes sold for less than what amount? The amount is
$ 230,000 ± 10000
Explanation c. 50 (found by 100 – 50)
The following stem-and-leaf display reports the number of orders received per day by a mail-order firm:
25.
9 1 102 112 126 132 141 151 162 170 180 190 204 210 224 231
3 5 9 3 2 2 1 0 3 6 1 5 7
5 2 6 5 0 3 7 7
9 6 9 1 4 9 7
7 7 8 9 3 3 4 6 7 9 9 6
a. How many days were studied? 55
b. How many observations are in the fourth class? 2 c. What are the smallest and the largest values? 91 , 237 d. List the actual values in the sixth class. 141 , 143 , 145 e. How many days did the firm receive less than 140 orders? 8 f. How many days did the firm receive 200 or more orders? 12 g. On how many days did the firm receive 180 orders? 3 h. What is the middle value? 180...