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Free CFA-Level-I Exam Braindumps (page: 286)

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Which of the following is/are true about a normal distribution?

  1. It is a bimodal distribution.
    II. It can be characterized completely by a single parameter.
    III. It ranges from negative infinity to positive infinity.
    IV. It is positively skewed.
  2. I only
  3. III only
  4. IV only
  5. II only
  6. II, III and IV
  7. II and III
  8. III and IV

Answer(s): B

Explanation:

A normal distribution is completely characterized by 2 parameters, mean and variance. It ranges from negative infinity to positive infinity, has a single mode or peak (occurring at the mean), is symmetrical about the mean and has zero skewness.



Assume a student received the following grades for the semester: History, B; Statistics, A; Spanish, C; and English, C. History and English are 5 credit hour courses, Statistics a 4 credit hour course and Spanish a 3 credit hour course. If 4 grade points are assigned for an A, 3 for a B and 2 for a C, what is the weighted mean for the semester grade?

  1. 1.96
  2. 2.88
  3. 4.00
  4. 2.76
  5. 3.01

Answer(s): D

Explanation:

The student has taken 17 credit hours. The weighted grades for each are: History:5*3 = 15. English: 5*2 = 10.
Statistics: 4*4 = 16. Spanish: 3*2 = 6. Adding we have 15 + 10 + 16 + 6 = 47. Mean = 47/17 = 2.76



Suppose that you write an investment newsletter. You track 12 stocks, and you classify these stocks into equal- sized categories of buy, sell, and hold. How many different ways can you classify these stocks into those

categories?

  1. 34,860.
  2. 36,540.
  3. 34,680.
  4. 34,650.

Answer(s): D

Explanation:

To answer this question, we need the formula for permutations that takes into account different ways to label things. The number of ways that you can arrange n objects so that there are n_1 of one kind, n_2 of another kind, and so on, up to n_k of a kth kind, is found by using the multinomial formula: n! /[(n_1)! * (n_2)! * ... * (n_k)!]. In this case, your equally-sized categories will be 4 of each kind, 12 in all. 12! / (4!*4!*4!) = 34,650.



A random variable with a mean equal to 2.5 and a standard deviation of 2.0 has a coefficient of variation equal to ________.

  1. zero
  2. -2.0
  3. 1.25
  4. none of these answers
  5. 0.8

Answer(s): E

Explanation:

The coefficient of variation equals the ratio of the standard deviation to the mean.






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