Question 1

Which of the following is a characteristic of a standard deviation?

Options :

A : The standard deviation is based on the middle portion of the data.

B : The standard deviation reflects the variation of values between two points.

C : The standard deviation uses all the data points from the data set in its calculation

D : At least 95% of the points in a data set will always be within +-2 standard deviations from the mean.

Answer: C

Question 2

You need 15,000 in two years in order to take that long-awaited and much deserved vacation of your dreams. You can earn 12% interest, compounded quarterly from your credit union. How much money do you need to set aside now?

Options :

A : 10,058.25

B : 11,841.14

C : 11,957.91

D : 12,802.36

Answer: B

Question 3

What is the median of the following data?

7, 17, 3, 19, 13, 9, 7

Options :

A : 7

B : 9

C : 13

D : 11

Answer: B

Question 4

In positively skewed distributions, the mean is usually which of the following?

Options :

A : Larger than the median

B : Between the median and the mode

C : Smaller than the median

D : Equal to the median

Answer: A

Question 5

On January 1 of last year, you had 1,000 emps. Dec 31 there was a 20% reduction in the workforce. By July of this year, you then increased your workforce by 20%. Do you now have 1,000 emps again? If not, how many?

Options :

A : Yes, 1,000

B : No; 800 emps on 12/31, 960 in July

C : No; 800 emps on 12/31, 850 in July

D : Not enough info to compute

Answer: B

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