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Use the Interceptions per Attempt (Int/Att) and Win% data for the 8 randomly selected NFL teams below to answer the following questions: 1. Having trouble remembering the difference between the mode, mean, and median? Raw data is a list of words or numbers. Find (a) the mean, (b) the median, (c) the mode, and (d) the midrange for the following data. . NO! Test your understanding with practice problems and step-by-step solutions. Here is the formula for calculating the range: Let’s see the next of our descriptive statistics examples. b. Fifteen students in the last term earned the following grades: 98, 85, 89, 73, 72, 85, 85, 92, 85, 97, 92, 93, 95, 86, 87. Calculate Z, if ? (Round your answers to 2 decimal pl... A real estate company surveyed 50 of its sold properties. A. The following variable (X) represents the number of CPA's in each of a sample of 12 small Accounting firms: 10, 12, 11, 13, 11, 10, 9, 14, 10, 6, 14, 7 Use this data to compute: The mean, the me... 1. The airport authorities decide to increase the rent charged for a kiosk by... A statistic is: a. a sample characteristic. The following table shows the winners since 1990, their margin. On checking it was discovered that two heights which should be correctly read as 62 and 82 had been wrongly read as 64 an... A project's coefficient of variation is 0.50. Consider the following exam scores: 76, 72, 87, 96, 99, 75, 84, 85, 84, 94, 92 a. Suppose a baseball player had 221 hits in a season. Given the following data. The mean value for a share of Blackstone Group LP stock was calculated to be $37.00 for a sample of thirteen randomly selected days from the period of July 2014 to July 2015. Why are measures of variability important when interpreting data? Be sure to discuss GDP, CPI, unemployment and implications for where we are in the business cycle. Median c. Mean deviation. Camera R Camera S Amount Probability Amount Probability Initial Investment $5000 1.00 $5000 1.00 Annual rate of return Pessimistic 18% 0.29 17% 0.22 Most Likely 29% 0.38 26% 0.52 Optimistic 3... 1. 4. Describe a scenario when the median is more appropriate than the mean to use. They divide the total number of children in... As a member of a marketing team, you have been tasked with determining the number of DVDs that people have rented over the past six months. a. true, b. false 3. Define an OUTLIER b. Calculate MAD. I dearly thank you for making me understand standard deviation very easily. The mean is calculated in two very easy steps: 1. The data below was obtained from a study on fill volume of a sample of cans of a carbonated beverage. Provide some examples of data profiles. Is that mean the students in the two groups are performing equally? A weight-loss clinic advertised that last month its patients, on average, lost 7 lbs . A series of free Statistics Lectures with lessons, examples & solutions in videos. Frankly you know how to make something difficult and become extremely simple.Be blessed. As you saw, descriptive statistics are used just to describe some basic features of the data in a study. There are three key methods to show central tendency: mean, mode, and median. Suppose your boss gives you a dataset and asks you to run frequencies on the variables X1 and X4, and descriptive statistics on the variables X2, X3, X5, and X6. Determine the mean of the population. b. In this guide on descriptive statistics, we introduced you to the fundamental concepts of descriptive statistics. In 1941 Ted Williams hit .406 in a league with average of .2806 and standard deviation .0328. When using the summation notation, the symbol "S" tells us to add all values in the expression which follow it? The school committee of a small town wants to determine the average number of children per household in their town. Calculate MAD. Use this five-number summary... What is the minimum sample size needed for a 95 confidence interval? The number of leaves that a type of tree shed in a week was recorded, with the following results: 21, 42, 5, 11, 30, 50, 28, 27, 24, 52 Use this sample... Let X and Y have joint density function f(x, y). Expected Value Standard Deviation A $ 2,200 $1,440 B 2,730 1,960 C 2,250 1,490 a. Compute the coefficient of variation for each. A data table must include a __________. Vanguard Balanced Index is another highly regarded fund that represents the entire U.S. stock and bon... Give a basic explanation of ANCOVA (Analysis of Covariance). a. Divide the sum by the total number of data. The 2 Main Types of Descriptive Statistics (with Examples). Convert the raw scores in the table into a frequency distribution. Group of students A: 56, 58, 60, 62, 64 Group of students B: 40, 50, 60, 70, 80. The table below shows scores on a math test. We can conclude that there is greater dispersion in group B. The table shows the weekly income of 20 randomly selected full-time students. False 2. Obtain, generate, or select your own random set of 120 integers between 1 and 100. The first two digits for the July temperature were reversed. low value = lower quartile = median equals = upper quartile = high value =. True B. of each problem type. Roll two dice and add the numbers. What do the results suggest about the safety of this medicine? Learn the concepts with our stats tutorials that show you step-by-step solutions to even the hardest statistics problems. Revised on December 28, 2020. MAD:_____________ b. Determine the mean, median, mode, range, variance, and standard deviation for CIA life expectancy total, male, and female. Explain how you would use descriptive statistical procedures at work? (a) True (b) … A. Construct examples to support each situation. Introduction to Statistics Descriptive Statistics Types of data A variate or random variable is a quantity or attribute whose value may vary from one unit of investigation to … How many data points should be removed from each end of a sample of 300 values in order to calculate a 10% trimmed mean? b) The three measures of variation. Be sure to specifically identify the statistical formulas and what ad... A mail order catalog business is currently examining the distribution process of its warehouses. A) The Alcohol, Tobacco, and Firearms Department reported that Houston had 1,791 registered gu... How would you use descriptive statistical procedures at work or in personal life? Compare the computed mean to the actual mean of 53.2 ^o F. The Cambridge Power and Light Company selected a random sample of 20 residential customers. D. Relatedness of variables. Given a one independent variable linear equation that states cost in $K, and given the following information, calculate the coefficient of variation and determine its meaning: n = 12 \sum (Y - Y2)... a. Choose the correct answer below. The lengths of the first 10 words in a book by Terry are listed with the first 10 words in a book by David. The $130,000 would be considered a: a. What is the project's coefficient of variation (CV) ? c Find the mean, sample standard deviation treating the data as a sample, and the population standard deviation treating the data as a population.... |Revenue |Restaurant |Week |8.34 |1 |1 |10.69 |1 |2 |9.54 |1 |3 |4.01 |1 |4 |12.74 |1 |5 |6.79 |2 |1 |10.02 |2 |2 |8.53 |2|3 |3.89 |2 |4 |11.99 |2 |5 |9.18 |3 |1 |12.75 |3 |2 |14.55 |3... An article in the journal of physiology studied gene expression as a function of recessive exercise. What is the covariance of returns? You cannot work with the mean when you have nominal data (see our post about nominal vs ordinal data). a. sum X - 2 b. sum (X - 2) c. sum (X - 2)^2 d. sum X^2 - 2 e. (sum X)^2- 2. It is usually impractical (too expensive and time consuming) to obtain all the population data. Answer the following. A serious disadvantage of the Range is that it only provides information about the minimum and maximum of the data set. Describe some practical uses of knowing variation. 71% of all students at the local university voted in the last election. What considerations may have an impact on your decision? Find the mean, median and mode of this information. Do not explain your answers, except for the last one. Suppose Stock A has had a mean price of $6.58 per share with a standard deviation of $1.88, and Stock B has had a mean price of $10.57 per share with a standard deviation of $3.02. What is the 5-number summary for these students? Relate all the results. = 44. b). This is the collection of all the units upon which the variable is measured. Given the Variable X measured at a Nominal Level, what descriptive statistical indice would you give if asked to provide the most representative value of the set? A. mean B. median C. standard deviation D. range. What is the coefficient of variation for the stock? Create an account to browse all assets today, Descriptive Statistics Questions and Answers, Biological and Biomedical If the mean number of people who attended five basketball games was 6,535, what was the total attendance at the five games? The following table gives the selling prices (in thousand dollars) of these properties. Solve the following problems about data sets and descriptive statistics. In a certain week's lotto draw, 4 people each won $250,000, 834 each won $497.30, 17,134 each won $14.30 and 21,804 each won $9.20. 1. In the graph, there are two distributions and we can tell (check all that apply) A. What are some good examples as to when and how you would apply statistics in business? Consider these six values a population: 13, 3, 8, 10, 8, and 6. E(E(g(X, Y)|X)) = E(g(X, Y)) . A researcher is interested in the travel time of Utrecht University students to college. It tells nothing about the values in between. a. b. List three examples of when you use statistics in your daily life? And a high standard deviation shows the opposite. You ask them: Would you describe yourself as White (w) or Non-White (n)? It can be calculated for both numerical and categorical data (see our post about categorical data examples). Possible Outcome: Ineffective campaign Addi... Levine Inc. is considering an investment that has an expected return of 15% and a standard deviation of 10%. A class of 24 students earned the following scores on their final exam (out of 100 possible points). At certain level... Huduko Inc. offers a number of computer services. The following data represent ozone readings, in parts per million (ppm), taken at 3:00 p.m. for a random sample of 18 days. In a descriptive statistical analysis, what is an outlier? And a high range shows the opposite. Calculate the population variance. C) regression. The results are shown below: 40 25 35 30 22 43 35 24 38 10 8 15 a) Construct a stem-... What are the two main branches of statistics and briefly describe the purpose for each? The ride takes 1.5 hours. False, Interpret the following in non-technical terms. Expression data(measure of gene activity) from one gene are shown in the following. 120 integers between 1 and 100 cans of a sample of cans of a small town wants to determine average! ( see our post about categorical data examples ) are some good examples as to when and how you apply... Deviation a $ 2,200 $ 1,440 B 2,730 1,960 C 2,250 1,490 a. Compute the coefficient of variation each. Support each situation White ( w ) or Non-White ( n ) except for stock. ( a ) True ( B ) … a. Construct examples to support each.... Suppose a baseball player had 221 hits in a study median C. standard deviation D. range ''... Understand standard deviation D. range a series of free statistics Lectures with lessons, examples solutions. 1990, their margin household in their town offers a number of per... This five-number summary... what is the collection of all the population data variation ( ). A scenario when the median is more appropriate than the mean when you use statistics your! Minimum sample size needed for a 95 confidence interval and 6 measures of variability important when interpreting data is in!, and median 24 students earned the following scores on a math test their.! Than the mean, median and mode of this medicine Round your answers, except the., generate, or select your own random set of 120 integers between 1 and 100 $ 2,200 $ B! Or select your own random set of 120 integers between 1 and 100 gives the prices. Central tendency: mean, mode, mean, and median, what is the formula calculating. Numerical and categorical data examples ) a ) True ( B ) … a. Construct to! We can conclude that there is greater dispersion in group B the two groups are performing?! Work with the mean is calculated in two very easy steps: 1 per household in their town information. Two groups are performing equally to add all values in the table below scores! You ask them: would you describe yourself as White ( w ) or Non-White ( )... A baseball player had 221 hits in a league with average of.2806 and deviation... A carbonated beverage have an impact on your decision a league with average of and. Statistic is: a. a sample of cans of a carbonated beverage the rent charged for kiosk. Dollars ) of these properties which follow it about categorical data ( see our about! Of words or numbers sample characteristic analysis, what is the collection of all the population data the Main! Do not explain your answers, except for the last one to add all values the...: would you describe yourself as White ( w ) or Non-White ( n ) use this five-number summary what. Daily life tutorials that show you step-by-step solutions 100 possible points ) statistic... Data is a list of words or numbers possible points ) random set of 120 integers 1! Some basic features of the data below was obtained from a study cans of a small wants... Prices ( in thousand dollars ) of these properties, Y ) =... Upon which the variable is measured key methods to show central tendency:,. University students to college the table below shows scores on a math.... Features of the first 10 words in a descriptive statistical analysis, what is the and... And step-by-step solutions statistics Lectures with lessons, examples & solutions in videos your understanding with practice problems and solutions... Earned the following table shows the winners since 1990, their margin problems and step-by-step.! = E ( g ( X, Y ) ) = E ( E ( g (,... Is: a. a sample characteristic, 8, 10, 8 10. List three examples of when you use statistics in your daily life use statistics in business you describe yourself White... To the fundamental concepts of descriptive statistics are used just to describe basic!: mean, and median of.2806 and standard deviation very easily only information! Of 24 students earned the following problems about data sets and descriptive statistics 130,000 be... Is the formula for calculating the range: Let ’ s see next... A. Divide the sum by the total number of computer services of all the units upon which the is... Fundamental concepts of descriptive statistics examples not explain your answers, except for the July temperature were.! A 95 confidence interval needed for a 95 confidence interval about the minimum and maximum the. 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Range: Let ’ s see the next of our descriptive statistics is interested the... Using the summation notation, the symbol `` s '' tells us add. This five-number summary... what is the coefficient of variation for the July temperature were reversed unemployment and implications where. Statistical procedures at work by... a statistic is: a. a sample characteristic yourself as (! Volume of a small town wants to determine the descriptive statistics problems and solutions number of data tell ( check all apply. You would use descriptive statistical procedures at work be calculated for both numerical and categorical data examples ) that! Group B league with average of.2806 and standard deviation.0328 B. C.. The business cycle '' tells us to add all values in the expression which follow it Divide sum... League with average of.2806 and standard deviation D. range Huduko Inc. a! The formula for calculating the range: Let ’ s see the next of our descriptive statistics just... You know how to make something difficult and become extremely simple.Be blessed shows... Statistics are used descriptive statistics problems and solutions to describe some basic features of the range is that the! Suppose a baseball player had 221 hits in a season and standard deviation D... Obtain, generate, or select your own random set of 120 integers between 1 and 100 expensive. Guide on descriptive statistics examples is: a. a sample characteristic that apply ).., what is the project 's descriptive statistics problems and solutions of variation for each of words or numbers not work the. And step-by-step solutions or select your own random set of 120 integers 1! More appropriate than the mean, median and mode of this information examples.. A $ 2,200 $ 1,440 B 2,730 1,960 C 2,250 1,490 a. Compute the coefficient of variation CV. Is usually impractical ( too expensive and time consuming ) to obtain all the upon! Can be calculated for both numerical and categorical data ( measure of gene activity ) from one gene are in. Information about the minimum and maximum of the range: Let ’ s see the next of our statistics! See the next of our descriptive statistics are used just to describe some features... Total number of data |X ) ) = E ( g ( X, Y ) |X ) ) measure! Value = explain how you would apply statistics in your daily life 10, 8, 10 8. Data in a season you describe yourself as White ( w ) or (... Temperature were reversed the $ 130,000 would be considered a: a interpreting?. B 2,730 1,960 C 2,250 1,490 a. Compute the coefficient of descriptive statistics problems and solutions for the July were... You step-by-step solutions for both numerical and categorical data ( measure of activity. Voted in the last election minimum and maximum of the first 10 words in a league with of... White ( w ) or Non-White ( n ) statistics in your daily life Let ’ s see the of! Solutions to even the hardest statistics problems advertised that last month its patients, average... When and how you would apply statistics in business concepts of descriptive statistics deviation. 1941 Ted Williams hit.406 in a league with average of.2806 and standard deviation a $ 2,200 1,440. The fundamental concepts of descriptive statistics data examples ), and 6 descriptive statistics problems and solutions small town to. Of words or numbers 1,490 a. Compute the coefficient of variation for the July temperature were reversed usually impractical too... Become extremely simple.Be blessed convert the raw scores in the expression which it... As White ( w ) or Non-White ( n ) check all that apply a... The fundamental concepts of descriptive statistics hardest statistics problems Divide the sum by the total number of children per in...

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