What is the mean absolute deviation

Reference no: EM132238109

Question 1) David Desreumaux. VP of Human Resources of American First Banks (AFB), is reviewing the employee training programs of AFB banks. His staff compiled the following table of regional statistics on teller training hours.

	Southeast Region	Southwest Region
Mean	20	28
Median	20	20
Mode	20	21
Standard Deviation	5	7

What can David conclude from these statistics?
A. the Southwest distribution has the greater dispersion
B. the Southwest distribution is skewed to the left
C. the Southeast distribution has the greater dispersion
D. the Southeast distribution is skewed to the left

Question 2) Manuel Banales, Marketing Director of Plano Power Plants, Inc.'s Electrical Division, is leading a study to assess the relative importance of product features. Two items on a survey questionnaire distributed to 100 of Plano's customers asked them to rate the importance of "ease of maintenance" and "efficiency of operation" on a scale of 1 to 10 (with 1 meaning "not important" and 10 meaning "highly important". His staff assembled the following statistics on these two items.

	Ease of Maintenance	Efficiency of Operation
Mean	7.5	6.0
Median	8.5	5.5
Mode	9.0	4.5
Standard Deviation	1.5	2.5

What can Manuel conclude from these statistics?
A. Ease of Maintenance is more important than Efficiency of Operation
B. Efficiency of Operation is more important than Ease of Maintenance
C. Efficiency of Operation and Ease of Maintenance are equally important
D. the Efficiency of Operation distribution has less dispersion

Question 3) Albert Abbasi, VP of Operations at Ingleside International Bank, is evaluating the service level provided to walk-in customers. Accordingly. his staff prepared the following distribution of waiting time for walk-in customers.
Waiting Time (in minutes) Number of Customers
0-under 2                                   60
2-tinder 4                                   30
4-under 6                                   10

The standard deviation of waiting time for this sample of walk-in customers is ______.
A. 2 minutes
B. 1.35 minutes
C. 1.82 minutes
D. 1.80 minutes

Question 4) The following box and whisker plot was constructed for the age of accounts receivable.

The box and whisker plot reveals that the accounts receivable ages are
A. skewed to the left
B. skewed to the right
C. not skewed
D. normally distributed

Question 5) The following frequency distribution was constructed for the age of accounts receivable.

The frequency distribution reveals that the accounts receivable ages are
A. skewed to the left
B. skewed to the right
C. not skewed
D. positively skewed

Question 6) According to the following graphic. X and Y are _____

A. strong negative correlation
B. virtually no correlation
C. strong positive correlation
D. moderate negative correlation

Question 7) Meagan Dubean manages a portfolio of 200 common stocks. Her staff classified the portfolio stock by 'industry sector' and 'investement objective.'

Investment Objective	Industry Sector
Investment Objective	Electronics	Airlines	Healthcare	Total
Growth	100	10	40	150
Income	20	20	10	50
Total	120	30	50	200

If a stock is selected randomly fom Meagan's portfolio. P(Growth) =
A. 0.50
B. 0.83
C. 0.67
D. 0.75

Question 8) An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased. The following joint probability table was developed from the dealer's records for the previous year.

Type of Vehicle	Buyer Gender
Type of Vehicle	Female	Male	Total
SIN
Not SUV	.30
Total		.60	1.00

P(SUV) =
A. 0.30
B. 0.40
C. 0.12
D. 0.10

Question 9) Given P(A) = 0.25, P(B) = 0.40, P(A ∩ B) = 0.10. Find P(B|A).
A. 0.20
B. 0.50
C. 0.40
D. 0.65

Question 10) The staffs of the accounting and the quality control departments rated their respective supervisor's leadership style as either (1) authoritarian or (2) participatory. Their responses are tabulated in the follwing table.

Department	Leadership Style
Department	Authoritarian	Participatory	Total
Accounting	40	5	45
Quality Control	20	35	55
Total	60	40	100

Which of the following statements is NOT true?
A. Accounting and Participatory are statistically independent
B. Accounting and Quality Control are complements
C. Accounting and Quality Control are mutually exclusive
D. Authoritarian and participatory are collectively exhaustive

Question 11) According to the following graphic. X and Y are ____.

A. strong negative correlation
B. virtually no correlation
C. strong positive correlation
D. moderate negative correlation

Question 12) David Desreumaux, VP of Human Resources of American First Banks (AFB), is reviewing the employee training programs of AFB banks. His staff compiled the following table of regional statistics on teller training hours.

	Southeast Region	Southwest Region
Mean	20	28
Median	20	20
Mode	20	21
Standard Deviation	5	7

What can David conclude from these statistics?

A. the Southwest distribution has the greater relative dispersion
B. the Southwest distribution is skewed to the left
C. the Southeast distribution has the greater relative dispersion
D. the Southeast distribution is not skewed

Question 13) Liz Chapa manages a portfolio of 250 common stocks. Her staff compiled the following rformance statistics for two new stocks.

Stock	Rate of Return
Stock	Mean	Standard Deviation
Salas Products, Inc.	15%	5%
Hot Boards. Inc.	20%	5%

The coefficient of variation for Salas Products. Inc. is
A. equal to the coefficient of variation for Hot Boards
B. greater than the coefficient of variation for Hot Boards
C. less than the coefficient of variation for Hot Boards
D. 25%

Question 14) Liz Chapa manages a portfolio of 250 common stocks. Her staff compiled the following performance statistics for two new stocks.

Stock	Rate of Return
Stock	Mean	Standard Deviation
Salas Products, Inc.	15%	5%
Hot Boards. Inc.	20%	5%

The coefficient of variation for Salas Products. Inc. is
A. 300%
B. 100%
C. 33%
D. 5%

Question 15) A sales manager has sampled past sales records to determine how many televisions are sold each clay. Daily records for a sample of 5 days have been selected. The sales on these days are: 2, 4, 5, 2, 7. What is the mean absolute deviation for this set of data?
A. 0
B. 2
C. 1.6

Reference no: EM132238109

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