Applied Statistics in Business and Economics Quiz 1 With Instructor Notes

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University of Phoenix OnlineCourse: RES / 341QUIZ # 1(Chapter 3 and 4 from Applied Statistics in Business and Economics )45 Questions [Each Question = 1 Point]SOLUTIONPlease mark one answer for all multiple choice questions with RED!Chapter 3Multiple Choice1. Which is not a tip for effective bar charts?A) Time usually goes on the horizontal axis.

B) Bar height or length should be proportional to the quantity displayed.

C) Label data values at the top of each bar unless graphing lots of data.

D) The non-zero origin rule may be waived for financial reports.

Answer: D2. The ______________can be used to differentiate the "vital few" causes of quality problems from the "trivial many" causes of quality problems.

A) histogramB) scatter plotC) Pareto chartD) box plotAnswer: C3. When using a dot plot to visualize a distribution which of the following is least apparent?A) Dispersion of data within the distribution.

B) Central tendency of data within the distribution.

C) Location of data within the distribution.

D) The shape of the distribution.

Answer: D4. Which is not a useful characteristic of a dot plot?A) Simplicity.

B) Legibility.

C) Causation.

D) Association.

Answer: C5. Which display is most likely to reveal association?A) Dot plot.

B) Scatter plot.

C) Histogram.

D) Radar chart.

Answer: B6. We expect that the ideal number of classes in a frequency distribution willA) reflect Sturges' Rule.

B) be based on aesthetic judgment.

C) provide "nice" class (bin) limits.

D) have all of the above characteristics.

Answer: D7. Which is a reason for using a log scale for time series data?A) It is easier to compare rates of change in time series of dissimilar magnitude.

B) General business audiences find it easier to interpret a log scale.

C) On a log scale, equal distance represents equal dollar amounts.

D) Arithmetic scales are...