chap03-TIF-BSAFC5(5)

94 Numerical Descriptive Measures

TABLE 3-5

The rate of return of a Fortune 500 company over the past 15 years are: 3.17%, 4.43%, 5.93%, 5.43%, 7.29%, 8.21%, 6.23%, 5.23%, 4.34%, 6.68%, 7.14%, -5.56%, -5.23%, -5.73%, -10.34%

98. Referring to Table 3-5, compute the arithmetic mean rate of return.

ANWER: 2.48%

TYPE: PR DIFFICULTY: Easy KEYWORDS: arithmetic mean

99. Referring to Table 3-5, what is the range of the rate of return?

ANSWER: 18.55%

TYPE: PR DIFFICULTY: Easy KEYWORDS: range

100. Referring to Table 3-5, construct a boxplot for the rate of return.

Box-and-whisker Plot -0.15-0.1-0.0500.050.1ANSWER:

TYPE: PR DIFFICULTY: Easy KEYWORDS: boxplot

101. Referring to Table 3-5, what is the shape of the distribution for the rate of return?

ANSWER: Left-skewed

TYPE: PR DIFFICULTY: Easy KEYWORDS: shape

TABLE 3-6

Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall

Numerical Descriptive Measures 95

The rate of return of an Internet Service Provider over a 10 year period are: 10.25%, 12.64%, 8.37%, 9.29%, 6.23%, 42.53%, 29.23%, 15.25%, 21.52%, -2.35%.

102. Referring to Table 3-6, compute the arithmetic mean rate of return.

ANWER: 15.30%

TYPE: PR DIFFICULTY: Easy KEYWORDS: arithmetic mean

103. Referring to Table 3-6, construct a boxplot for the rate of return

ANWER:

Box-and-whisker Plot -0.100.10.20.30.40.5TYPE: PR DIFFICULTY: Moderate KEYWORDS: boxplot

104. Referring to Table 3-6, what is the shape of the distribution for the rate of return?

ANSWER: Right-skewed

TYPE: PR DIFFICULTY: Moderate KEYWORDS: shape

105. The Z scores can be used to identify outliers.

ANSWER: True

TYPE: TF DIFFICULTY: Easy KEYWORDS: Z scores

106. The larger the Z score, the farther is the distance from the observation to the median.

Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall

96 Numerical Descriptive Measures

ANSWER: False

TYPE: TF DIFFICULTY: Moderate KEYWORDS: Z scores

107. As a general rule, an observation is considered an extreme value if its Z score is greater than??3.

ANSWER: False

TYPE: TF DIFFICULTY: Easy KEYWORDS: Z score

108. As a general rule, an observation is considered an extreme value if its Z score is greater than?3.

ANSWER: True

TYPE: TF DIFFICULTY: Easy KEYWORDS: Z score

109. As a general rule, an observation is considered an extreme value if its Z score is less than?3.

ANSWER: False

TYPE: TF DIFFICULTY: Easy KEYWORDS: Z score

110. As a general rule, an observation is considered an extreme value if its Z score is less than??3.

ANSWER: True

TYPE: TF DIFFICULTY: Easy KEYWORDS: Z score

111. The Z score of an observation can never be negative.

ANSWER: False

TYPE: TF DIFFICULTY: Moderate KEYWORDS: Z score

112. The Z score of an observation measures how many standard deviations is the value from the

mean.

ANSWER: True

TYPE: TF DIFFICULTY: Moderate KEYWORDS: Z score

Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall

Numerical Descriptive Measures 97

TABLE 3-7

Given below is the frequency distribution of the 12-month rate of return achieved by 30 stocks. 12-month Rate of Return Number of Funds 3 ?0.10 but less than 0.0 0.0 but less than 0.1 5 0.1 but less than 0.2 6 0.2 but less than 0.3 10 0.3 but less than 0.4 6

113. Referring to Table 3-7, what is the approximate mean rate of return?

ANSWER: 0.1867

TYPE: PR DIFFICULTY: Moderate KEYWORDS: approximate mean

114. Referring to Table 3-7, what is the approximate variance?

ANSWER: 0.0162

TYPE: PR DIFFICULTY: Moderate KEYWORDS: approximate variance

115. Referring to Table 3-7, what is the approximate standard deviation?

ANSWER: 0.1273

TYPE: PR DIFFICULTY: Moderate

KEYWORDS: approximate standard deviation

TABLE 3-8

Given below is the frequency distribution of the number of defective tomatoes in 50 different shipments. Defective Items Frequency 0 but less than 5 35 5 but less than 10 7 10 but less than 15 5 15 but less than 20 2 20 but less than 25 1 25 but less than 30 0 Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall

98 Numerical Descriptive Measures

116. Referring to Table 3-8, what is the approximate mean number of defective tomatoes?

ANSWER: 5.2

TYPE: PR DIFFICULTY: Moderate KEYWORDS: approximate mean

117. Referring to Table 3-8, what is the approximate variance?

ANSWER: 23.6837

TYPE: PR DIFFICULTY: Moderate KEYWORDS: approximate variance

118. Referring to Table 3-8, what is the approximate standard deviation?

ANSWER: 4.8666

TYPE: PR DIFFICULTY: Moderate

KEYWORDS: approximate standard deviation

TABLE 3-9

In the 2002–2003 academic year, many public universities in the United States raised tuition and fees due to a decrease in state subsidies. The change in the cost of tuition, a shared dormitory room, and the most popular meal plan from the 2001–2002 academic year for a sample of 10 public universities were as follows: $1589, $593, $1223, $869, $423, $1720, $708, $1425, $922 and $308.

119. Referring to Table 3-9, what is the mean and median change in the cost?

ANSWER: $978, $895.5

TYPE: PR DIFFICULTY: Moderate KEYWORDS: mean

120. Referring to Table 3-9, what are the five-number summary of the change in the cost?

ANSWER:

$308, $593, $895.5, $1425, and $1720 TYPE: PR DIFFICULTY: Moderate KEYWORDS: five-number summary

121. Referring to Table 3-9, what is the standard deviation of the change in the cost?

ANSWER: $491.8

TYPE: PR DIFFICULTY: Moderate KEYWORDS: standard deviation

Copyright ? 2010 Pearson Education, Inc. Publishing as Prentice Hall

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