Statistics Test Questions
Sample Paper Mid Term Examination All questions carry equal marks (4 Marks Each) Q.No. 1 a) i) Suppose you are an operations manager for a plant that manufactures batteries. Give an example how you could use descriptive statistics to make better managerial decisions. ii) Listed here are 30 different weekly Dow Jones industrial stock averages. 2656 2301 2975 3002 2468 2742 2830 2405 2677 2990 2200 2764 2337 2961 3010 2976 2375 2602 2670 2922 2344 2760 2555 2524 2814 2996 2437 2268 2448 2460 Construct stem and leaf plot for these 30 values. Let the stem contain two digits.
(b)
Child-Care Community Nursery can continue to be supported by the county social service office as long as the average annual income of the families whose children attend the nursery is below $12, 500. The family incomes of the attending children are $12500, $17600, $10500, $10600, $9800, $4500, $3900, 12200, $14000 $8600, $14400,
i) ii)
Does Child-Care qualify now for county support ? If no, by how much must the average family income fall for it to qualify? If yes, by how much can average family income rise and Child-Care still stay eligible? Q.No. 2: Descriptive statistics of daily sales ($'s) were calculated for two Bob's Quick Shops -- the Southside store, and the Midcity store.
Southside Mean Standard Error Median Mode Standard Deviation Sample Variance Kurtosis Skewness 5025.622 118.306 5110.73 #N/A 916.394 839778 -0.64387 -0.05517 Midcity 2733.333 249.1417 2000 1000 1929.843 3724294 -0.49322 0.860968
Range Minimum Maximum Sum Count
3949.172 3133.362 7082.534 301537.3 60
6000 1000 7000 164000 60
Describe what these descriptive statistics indicate about daily sales at these two stores. Q. No. 3 Max Sandlin is exploring the characteristics of stock market investors. He
found that sixty percent of all investors have a net worth exceeding $1,000,000; 20% of all investors use an online brokerage; and 10% of all investors a have net worth exceeding $1,000,000 and use
(b)
Child-Care Community Nursery can continue to be supported by the county social service office as long as the average annual income of the families whose children attend the nursery is below $12, 500. The family incomes of the attending children are $12500, $17600, $10500, $10600, $9800, $4500, $3900, 12200, $14000 $8600, $14400,
i) ii)
Does Child-Care qualify now for county support ? If no, by how much must the average family income fall for it to qualify? If yes, by how much can average family income rise and Child-Care still stay eligible? Q.No. 2: Descriptive statistics of daily sales ($'s) were calculated for two Bob's Quick Shops -- the Southside store, and the Midcity store.
Southside Mean Standard Error Median Mode Standard Deviation Sample Variance Kurtosis Skewness 5025.622 118.306 5110.73 #N/A 916.394 839778 -0.64387 -0.05517 Midcity 2733.333 249.1417 2000 1000 1929.843 3724294 -0.49322 0.860968
Range Minimum Maximum Sum Count
3949.172 3133.362 7082.534 301537.3 60
6000 1000 7000 164000 60
Describe what these descriptive statistics indicate about daily sales at these two stores. Q. No. 3 Max Sandlin is exploring the characteristics of stock market investors. He
found that sixty percent of all investors have a net worth exceeding $1,000,000; 20% of all investors use an online brokerage; and 10% of all investors a have net worth exceeding $1,000,000 and use