Which of the following is NOT a measure of dispersion?
Answer(s): C
The mode is a measure of central tendency.
How much would an original deposit of $1,500 grow to be after 8 and a half years, if the deposit earns interest at 6.5% per year, compounded quarterly?
Answer(s): D
On the BAII Plus, press 1500 PV, 0 PMT, 34 N, 6.5 divide 4 = I/Y, then press CPT FV. On the HP12C, press 1500 PV, 0 PMT, 34 n, 6.5 ENTER 4 divide i, then press FV. Note that N = 34 quarters and the answer is displayed as a negative number. Make sure that the BAII Plus has the P/Y value set to 1.
A survey of 144 retail stores revealed that a particular brand and model of a VCR retails for $375 with a standard deviation of $20. What is the 95% confidence interval to estimate the true cost of the VCR?
Interval estimates can be found from the empirical rule where 95% will lie between plus and minus 1.96 standard deviations of the mean.
You are examining a group of 5 mutual funds. Their average annual returns have been 10%, 8%, 13%, 19%, and 15%. What is the range of annual returns?
The range = the maximum value - the minimum value. Here, we have 19% - 8% = 11%.
What is it called when all the items in the population have the same chance of being selected for the sample?
Answer(s): B
When every item in a population is selected at random, each have the same probability of being selected.
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