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Free CFA-Level-I Exam Braindumps (page: 188)

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PDF with 3963 Questions

Suppose a research firm conducted a survey to determine the average amount of money steady smokers spend on cigarettes during a week. A sample of 500 steady smokers revealed that the sample mean is $20 and the sample standard deviation is $5. What is the point estimate?

  1. $20
  2. None of these answers
  3. $25
  4. $0.04
  5. $5

Answer(s): A

Explanation:

The sample mean is a good estimate for the population mean.



A survey of passengers on domestic flights revealed these miles:

Miles Flown Number of Passengers
100 - 49916
500 - 89941
900 - 129981
1300 - 169911
1700 - 20999
2100 - 24996

What is the range (in miles)?

  1. 1,100
  2. 1,999
  3. 2,499
  4. 2,399
  5. None of these answers

Answer(s): D

Explanation:

2499 - 100 = 2399



The coefficient of variation is useful when:

  1. The frequency distribution contains open-ended classes or overlapping classes.
    II. The data sets being compared contain data in different measurement units.
    III. The data sets being compared contain data with similar measurement units.
  2. I only
  3. I & II
  4. III only
  5. II only
  6. I & III

Answer(s): D

Explanation:

The coefficient of variation is useful when the means of the data sets are widely different or when the observations are in different measurement units.



If you buy an item for $475 and agree to pay for it with 24 monthly payments of $22.50, beginning next month, what annual interest rate, compounded monthly, are you being charged?

  1. 17.53%
  2. 14.15%
  3. 12.63%
  4. 12.92%
  5. 1.05%

Answer(s): C

Explanation:

The interest rate returned by the calculator will be the periodic interest rate. It must be multiplied by the number of periods per year to have the correct answer. On the BAII Plus, press 24 N, 475 PV, 22.50 +/- PMT, 0 FV, CPT I/Y. Then press x 12 = to see the answer. On the HP12C, press 24 n, 475 PV, 22.50 CHS PMT, 0 FV, i.
Then press 12 x to see the answer. Make sure the BAII Plus has the P/Y value set to 1.






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