QUESTION: 549

Which of the following is/are true?

There are as many values above the median as below it.
II. The sum of the differences between the observations in a sample and the median of the sample equals zero.
III. The median is greatly affected by "outliers."
IV. A sample has a unique median.
II & IV
I, II & IV
I only
II only
I & IV
III only
IV only
I, III & IV

Answer(s): E

Explanation:

By definition, there are as many values above the median as below it. Each sample has a unique median. (II) and (III) hold for the mean, not for the median.

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QUESTION: 550

If you deposit $150 a month, beginning next month, for 20 years into an account paying 6% per year, compounded monthly, how much is in your account after the last deposit?

$70,343.82
$48,833.09
$49,904.67
$143,582.01
$69,306.13

Answer(s): E

Explanation:

On the BAII Plus, press 240 N, 6 divide 12 = I/Y, 0 PV, 150 PMT, CPT FV. On the HP12C, press 240 n, 6 ENTER 12 divide i, 0 PV, 150 PMT, FV. On the BAII Plus, make sure the value of P/Y is set to 1. Note that the answer is displayed as a negative number.

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QUESTION: 551

A cumulative frequency distribution on days absent during a calendar year by employees of a manufacturing company is shown below.

Days AbsentCumulative Number of Employees
0 - 260
3 - 531
6 - 814
9 - 116
12 - 142

How many employees were absent fewer than six days?

60
91
46
31
None of these answers

Answer(s): C

Explanation:

This is the difference between the cumulative numbers for the 0-2 group and the 6-8 group, 60 - 14 = 46. There are 46 people between those two groups and they were absent fewer than six days.

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QUESTION: 552

A perpetuity of $5,000 a year is priced at $40,000. The annual discount rate is:

12.5%
13.1%
11.8%
12.75%

Answer(s): A

Explanation:

If r is the discount rate, then 40,000 = 5,000/r, giving r = 12.5%

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QUESTION: 549

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QUESTION: 550

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QUESTION: 551

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QUESTION: 552

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