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Free CFA-Level-I Exam Braindumps (page: 184)

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A sample of the personnel files of eight male employees revealed that during a six month period, they lost the following number of days due to illness: 2, 0, 6, 3, 10, 4, 1 and 2. What is the mean deviation (in days)?

  1. 2 3/8
  2. None of these answers
  3. 1
  4. 0
  5. 3 1/8

Answer(s): A

Explanation:

The mean is 3.5. The mean deviation is the absolute values of the deviation from the mean. (1.5 + 3.5 + 2.5 + 0.5 + 6.5 + 0.5 + 2.5 + 1.5)/8 = 19/8 = 2.375



The slope coefficient in a regression measures:

  1. The significance of the regression line.
  2. The percentage change in the dependent variable caused by a 1% change in the independent variable.
  3. The rate at which the dependent variable changes with respect to the independent variable.
  4. The change in the independent variable caused by a unit change in the dependent variable.

Answer(s): C

Explanation:

In a univariate regression, the slope coefficient gives the change in the dependent variable caused by a unit change in the independent variable. It thus measures the rate at which the dependent variable changes with respect to the independent variable.



Which of the following is / are true?

  1. A sample is a subset of the population.
    II. The population mean is used to estimate the sample mean.
    III. The population mean equals the sum of all the available observations divided by the number of observations.
    IV. A sample has a unique mean.
  2. I, II, III & IV
  3. I, III & IV
  4. IV only
  5. I only
  6. I & III
  7. I & IV
  8. II only
  9. III only

Answer(s): F

Explanation:

The sample mean is used to estimate the population mean, not the other way around. The sum of all the available observations divided by the number of observations is the sample mean, not the population mean (unless the observation set equals the entire population, which is almost never the case).



The R-square in a univariate regression measures:

  1. the significance of the regression.
  2. the variance of the error term.
  3. the amount of variance in the dependent variable caused by the variance in the independent variable.
  4. the correlation between the dependent and the independent variables.

Answer(s): C

Explanation:

It should be noted that in a univariate regression, the square root of R-square equals the correlation coefficient.
The significance of a univariate or a multivariate regression is measured by the F-statistic.






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