2491 Words10 Pages

BUS 500
Midterm
Spring 2013 A1
St. Thomas University
Dr. S. Gupta
Answer all questions. You must show your calculations and work where appropriate. No credits will be given to answers without detailed work. You have 48 hours to turn in the answers from the time you pick it up. The exam is open books, open notes, closed friends and professors. You are NOT to discuss or share the exam and/or your answers with anyone. Any deviation from the above rule will be considered as academic dishonesty and will lead to an “F” grade. You must turn in the exam by using Blackboard’s “SafeAssignment.” Go to the Assignment section and follow the instructions.
Good Luck!
Section 1
Multiple Choice Questions
1. The main purpose of descriptive*…show more content…*

What do the quartile deviation and the interquartile range describe? A) Lower 50% of the observations B) Middle 50% of the observations C) Upper 50% of the observations D) Lower 25% and the upper 25% of the observations E) None of the above 24. What is the relationship between the variance and the standard deviation? A) Variance is the square root of the standard deviation B) Variance is the square of the standard deviation C) Variance is twice the standard deviation D) No constant relationship between the variance and the standard deviation E) None of the above 25. Mr. and Mrs. Jones live in a neighborhood where the mean family income is $45,000 with a standard deviation of $9,000. Mr. and Mrs. Smith live in a neighborhood where the mean is $100,000 and the standard deviation is $30,000. What are the relative dispersion of the family incomes in the two neighborhoods? A) Jones 40%, Smith 20% B) Jones 20%, Smith 30% C) Jones 30%, Smith 20% D) Jones 50%, Smith 33% E) None of the above 26. According to Chebyshev's Theorem, what percent of the observations lie within plus and minus 1.75 standard deviations of the

What do the quartile deviation and the interquartile range describe? A) Lower 50% of the observations B) Middle 50% of the observations C) Upper 50% of the observations D) Lower 25% and the upper 25% of the observations E) None of the above 24. What is the relationship between the variance and the standard deviation? A) Variance is the square root of the standard deviation B) Variance is the square of the standard deviation C) Variance is twice the standard deviation D) No constant relationship between the variance and the standard deviation E) None of the above 25. Mr. and Mrs. Jones live in a neighborhood where the mean family income is $45,000 with a standard deviation of $9,000. Mr. and Mrs. Smith live in a neighborhood where the mean is $100,000 and the standard deviation is $30,000. What are the relative dispersion of the family incomes in the two neighborhoods? A) Jones 40%, Smith 20% B) Jones 20%, Smith 30% C) Jones 30%, Smith 20% D) Jones 50%, Smith 33% E) None of the above 26. According to Chebyshev's Theorem, what percent of the observations lie within plus and minus 1.75 standard deviations of the

Related

## Math 533 Project B

1730 Words | 7 PagesThere is a very low probability (5% at most) that the annual income for the data from AJ DAVIS is less than $50,000. The way that we concluded this was to test the probability that the annual income of our customers is $50,000 versus the probability that the average annual income was less than $50,000. What we found was that there is a 95% chance that the average annual income of our customers is between $69,997.9 and $70,001.8. This was also backed with a p-value (which determines the strength of the evidence) that showed weak evidence against the average income equaling $50,000. Since we cannot deny that the annual income average is $50,000, we have no choice but to keep it as a consideration moving forward.

## Statistics, Course Project Part B

2217 Words | 9 PagesThe alternative hypothesis H1 is that the mean annual income μ is less than $50,000. H1:μ < $50,000 Significance level chosen is 5% or α = 0.05 Here, the population standard deviation is unknown. Hence, we use a t statistic Therefore the test statistic used is t = X-μS/n follows a t distribution with n-1 degrees of freedom From the t table corresponding to 0.05 probability, the critical value tα =1.6766. Hence the critical region is t < -1.6766. Alternatively, we reject the null hypothesis, if the p value is less than the significance level Substituting the value we get t = 43.74-5014.6396/50 = -3.02 The p value corresponding to t = -3.02 and 49 d.f.

## How To Fail a Class

512 Words | 3 PagesWhen an assignment is only simple a completion grade, one must not turn anything in. When given extra credit opportunities, one must not even entertain the thought of attempting it. One should show the professor how hard he isn’t trying. If this didn’t completely ruin one’s grade, try to get caught cheating. One of the easiest ways to fail is by not coming to class at all.

## Hypothesis Testing and Confidence Intervals

1003 Words | 5 Pages4. The average (mean) credit balance for rural customers is less than $3200. For assumption 1, the statement is made that the annual income is greater than $45,000. To translate this into a hypothesis test, our null hypothesis is the populations mean income is less than $45,000 where our alternate hypothesis that the average income of the population is greater that $45,000. Our mean is $46,020 and our standard deviation is 13.88, and our sample size is 50.

## Szt1 Task 1

5178 Words | 21 Pages(Los Angeles County QuckFacts from the US Census Bureau, 2013) The mean household income in Los Angeles County is $81,729.00 and median household income is $56,241.00 annually. (Los Angeles County QuckFacts from the US Census Bureau, 2013) 17.1% of all persons living in Los Angeles County are living at or below the poverty level. (Los Angeles County QuckFacts from the US Census Bureau, 2013) Of the persons living at or below the poverty level, 25.4% of them are African American, 12.4% Asian, 24.7% Hispanic, 16.4% White and 28.5% Other. (Los Angeles County QuckFacts from the US Census Bureau, 2013) The highest percentage of poor is under 18 years of age @ 24.3%, ages 18-64 years 15.2% and over 65 years 12.2%. (Los Angeles County QuckFacts from the US Census Bureau, 2013) Of the nearly 10 million people in Los Angeles County, nearly 634,000 families are receiving public assistance (Los Angeles Almanac - Demographics, History, Statistics) with an employment rate of 9.4% (Overview - Labor Market Information Division).

## Community and Population Health Task 1

1270 Words | 6 PagesThe birth rate per 1000 people from 2000-2006 was 15.6. The death rate per 1000 people from 2000-2006 was 6.8. There are about 4,000 people per square mile in the urban parts of San Diego County. The median age is 33.6 years old. San Diego’s population consists of 45.1% white, 28.8% Hispanic, 15.6% Asian, and 6.3% black.

## Day Care Cost Comparison

759 Words | 4 PagesThe equation to represent the cost at the in home center would be… h = 7x Center option: Two Different costs… From any part of an hour to 40 hours, the weekly total cost of care is equal to $270.00. Let c be the total cost for the center option. The equation to represent the cost for up to 40 hours of care at the center is: c = 270 Over 40 hours, the weekly total cost of care is equal to 270 dollars plus the extra number of hours times 10 dollars per hour. Let y be the total cost per week at the center when care exceeds 40 hours per week. Let x be the number of total hours.

## African Americans Vulnerable Population

1318 Words | 6 Pages1.3 million African American households are composed of a grandparent and a grandchild younger than 18 (United States Census Bureau, 2010). Thirty two thousand five hundred and four dollar is the reported annual medium income (Unites States Department of Labor, 2010). African Americans comprise 40 percent of the homeless population and nearly half of all prisoners in the United States are African American. African American children comprise 45 percent of the public foster care population (United Stated Census Bureau, 2010) and African Americans also lead the nation in unemployment at some 16 percent (United States Department of Labor, 2010). Twenty percent of African Americans report having no health insurance coverage and 17 percent report owing no form of transportation (United States Department of Labor, 2010).

## The Capital Income of Native Americans

1279 Words | 6 PagesThe life expectancy of Native men is 50 years of age. (Beal, C.L.) In 2011, the Native American unemployment rate was second only to that of black Americans (whose unemployment rate that year was at 15.9%) at 14.6%. Considering the fact that there are only 2.9 million Native Americans in the United States, that's around 425,000 Native Americans who were unemployed that year. In fact, on some reservations, the unemployment rate is around 90%.

## Cheat Sheet Essay

1420 Words | 6 PagesFlood damage losses to property where flooding is rare (not restructuring charges, losses from inventory obsolesce or impairment losses on intangible assets). - The gain or loss from disposal of a component of a business is shown as a (an): part of discontinued operations. - Clair, Inc. reports net income of $700,000. It declares and pays total dividends of $100,000 for the year, one-half of which relate to the preferred shares. The weighted-average number of common shares outstanding during the year is 200,000 shares, and the weighted-average number of preferred shares outstanding during the year is 10,000 shares.

### Math 533 Project B

1730 Words | 7 Pages### Statistics, Course Project Part B

2217 Words | 9 Pages### How To Fail a Class

512 Words | 3 Pages### Hypothesis Testing and Confidence Intervals

1003 Words | 5 Pages### Szt1 Task 1

5178 Words | 21 Pages### Community and Population Health Task 1

1270 Words | 6 Pages### Day Care Cost Comparison

759 Words | 4 Pages### African Americans Vulnerable Population

1318 Words | 6 Pages### The Capital Income of Native Americans

1279 Words | 6 Pages### Cheat Sheet Essay

1420 Words | 6 Pages