# Quiz 22: Business Statistics

Business

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Q 19Q 19

The range is the difference between the highest and lowest values in a series or group of values.

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Q 23Q 23

Find the median from the following numbers: 15, 8, 7, 5, 4, 1, 9, 16
A)7.5
B)7.0
C)8.0
D)8.5
E)None of these

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Q 25Q 25

Hector Rameriz received three A's and one B in his college courses. What is his grade point average? Assume each course is three credits. A = 4, B = 3, C = 2, D = 1.
A)3.0
B)3.25
C)3.75
D)3.80
E)None of these

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Multiple Choice

Q 26Q 26

Alvin's Bakery produced the following number of oat bran muffins each week: In a frequency distribution, which would have the lowest tally?
A)600
B)700
C)500
D)650
E)None of these

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Multiple Choice

Q 27Q 27

Today the price of a Jeep is $25,000. In 1970 the price was $5,000. What is the price relative?
A)600
B)166
C)300
D)400
E)None of these

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Q 28Q 28

To avoid distortion of extreme values, a good indicator would be the:
A)Mean
B)Median
C)Weighted-mean
D)Mode
E)None of these

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Q 29Q 29

Which is incorrect?
A)The mode is a measurement that records value
B)A bar graph is the same as a line graph
C)A mean may cause distortions
D)A circle graph is based on 360°
E)None of these

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Multiple Choice

Q 30Q 30

Calculate the weighted mean from the following sales: $400, $700, $300, $600, $300, $400, $700
A)$700
B)$300
C)$400
D)$500
E)None of these

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Q 31Q 31

Phil's Barbeque sold the following dinners in one hour: What was the average dollar mean?
A)$10.70
B)12.97
C)$6.35
D)$10.00

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Q 32Q 32

What is the weighted mean frequency for the following car sales? 2 sold at $25,090, 3 sold at $20,000, 1 sold at $21,475, and 1 sold at $39,638)
A)$24,740
B)$24,000
C)$21,241
D)$24,470
E)None of these

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Q 33Q 33

Find the mean (do not round): 38 + 18.05 + 25 + 26 + 46
A)21.4
B)23
C)22.
D)30.61
E)None of these

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Q 34Q 34

Professor Bowdidge taught four business statistics classes during the fall semester with the following grade averages for each class. Calculate the mean (round to the nearest hundredth): 82%, 86%, 91%, and 74%
A)83.25%
B)83.12%
C)83.00%
D)85.00%

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Q 35Q 35

Calculate the mode from the following: 71, 3, 13, 33, 3, 71, 14, 33, 13, 33
A)3
B)13
C)33
D)71
E)None of these

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Q 39Q 39

Assume the mean useful life of a particular lightbulb is 2,000 hours and is normally distributed with a standard deviation of 300 hours. Calculate the useful life of lightbulbs within two standard deviations of the mean.
A)Between 1,700 and 2,300 hours
B)Longer than 2,300 hours
C)Longer than 1,700 hours
D)Between 1,400 and 2,600 hours Between 1,400 and 2,600 hours.

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Q 43Q 43

Jim's Donut Shop reported the following sales for the first 20 days: Complete a frequency distribution.

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Q 45Q 45

Given the following sales of Roe Co., prepare a line graph (run sales to $50,000 in increments of $10,000):

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Q 46Q 46

Art's Hardware reported the following sales for the first 20 days of October: Prepare a frequency distribution for Art.

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Q 47Q 47

Paula's Printing Company produced the following number of bound books during the first five weeks of last year: Prepare a bar graph.

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Q 48Q 48

Angie Corporation reported profits of 18%. It stated in the report that cost of sales was 42% with expenses of 40%. Prepare a circle graph for Angie.

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Q 49Q 49

At the college bookstore, the following sales were rung up. Based on this, prepare a frequency distribution. Use intervals of 0-$5.99, $6.00-$11.99, $12.00-$17.99, and $18.00-$23.99.

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Q 50Q 50

At the college bookstore, the following sales were rung up. Based on this, prepare a bar graph. Use intervals of 0-$5.99, $6.00-$11.99, $12.00-$17.99, and $18.00-$23.99.

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Q 51Q 51

Russell Co. reported sales of $400,000 in 2012. This compared to sales of $180,000 in 2011 and $100,000 in 2010. Construct a line graph for Russell Co.

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Q 52Q 52

Calculate the standard deviation (to the nearest hundredth) for the following sample set of data (round mean to nearest hundredth):
82.5, 91.3, 57.4, 41.7, 76.9, 68.5

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