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Free CFA-Level-I Exam Braindumps (page: 186)

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PDF with 3963 Questions

A systematic sampling method should not be used when:

  1. the data are commingled.
  2. the data are systematically biased.
  3. the data are already arranged in the form of a predetermined pattern.
  4. the data are divided into open-ended classes.

Answer(s): C

Explanation:

If the data are already arranged in the form of a predetermined pattern, using systematic sampling can introduce a systematic pattern in the sample itself, which would lead to erroneous inferences about the entire population.



What is the relationship between the variance and the standard deviation?

  1. Variance is the square root of the standard deviation
  2. None of these answers
  3. No constant relationship between the variance and the standard deviation
  4. Variance is twice the standard deviation
  5. Variance is the square of the standard deviation

Answer(s): E

Explanation:

The variance is the mean of the squared deviations from the mean. The standard deviation is the positive square root of the variance.



A bell-shaped, symmetrical frequency distribution has a mean of 5 and a standard deviation of 2.5. The percentage of observations less than zero is about:

  1. cannot be calculated
  2. 5%
  3. 10%
  4. 2.5%

Answer(s): D

Explanation:

Note that the mean is 2 standard deviations above zero. The fraction of observations in a bell-shaped, symmetrical frequency distribution which lie outside the 2-sigma range around the mean is about 5%. Since the distribution is symmetrical about the mean, the percentage of observations less than zero is approximately equal to 5%/2 = 2.5%.



What is the area under the normal curve between z = 1.0 and z = 2.0?

  1. 1.0000
  2. 0.1359
  3. None of these answers
  4. 0.7408
  5. 0.4772

Answer(s): B

Explanation:

From the z-tables, z = 1 is 0.3413 and z = 2 is 0.4772. So the area in between is 0.4772 - 0.3413 = 0.1359.






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