QUESTION: 597

A distribution has a mean of 7 and a range of -100 to +50. The distribution is ________.

incomplete
right skewed
defective
left skewed

Answer(s): D

Explanation:

The range of values is larger to the left of the mean. Hence, the distribution is left-skewed.

The distribution of a sample of the outside diameters of PVC gas pipes approximates a symmetrical, bell- shaped distribution. The mean outside diameter of the sample is 14.0 inches, and the standard deviation is 0.1 inches. About 68 percent of the outside diameters lie between what two amounts?

13.9 and 14.1 inches
13.8 and 14.2 inches
13.0 and 15.0 inches
None of these answers
13.5 and 14.5 inches

Answer(s): A

Explanation:

Approximately 68% of observations will lie within plus and minus one standard deviation of the mean.

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QUESTION: 599

You borrow $100,000 at a mortgage rate of 8% per year. What's the annual payment you must make to repay the loan in 25 years?

$8,349
$5,982
$9,368
$7,493

Answer(s): C

Explanation:

If P is the annual payment, then using the annuity formula,
100,000 = P/0.08*[1 - 1/1.08^25] = 10.67P
This gives P = $9,368

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QUESTION: 600

What are half of the observations always greater than?

Median
Geometric mean
None of these answers
Mode
Mean

Answer(s): A

Explanation:

By definition, the median is the middle point. It divides the observations into two. The mean is NOT the answer because it may be affected by extreme values.

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QUESTION: 597

Explanation:

QUESTION: 598

Explanation:

QUESTION: 599

Explanation:

QUESTION: 600

Explanation: