6 Answers
the median is the the value that has half of the observations above it and half the observation below
answered Aug 26, 2019
by Johannah Wooden Status (260 points)
selected Dec 29, 2019
by ♦MathsGee
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The data's median is the dataset's middle value. The median value shows that 50% of the data values are less than or equal to the median value, and 50% of the data values are greater than or equal to the median value.
Option b is correct since half of the observations in the dataset are greater than the median value.
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40.For a data set, half of the observations are always greater than the ________.A)MedianB)ModeC)MeanD)Geometric meanAnswer: ADifficulty: EasyGoal: 2AACSB:REF41.What is the lowest level of measurement that a median can be computed?A)NominalB)OrdinalC)IntervalD)RatioAnswer: BDifficulty: MediumGoal: 242.For an ungrouped data set with an odd number of observations that have been sorted or arrayed fromsmallest to largest values, where is the median located?A)nB)n/2C)(n + 1)/2D)n + 1/2Answer: CDifficulty: MediumGoal: 1AACSB:AS43.Which measure of central location is used to determine an average annual percent increase?A)Arithmetic meanB)Weighted meanC)ModeD)Geometric meanE)MedianAnswer: DDifficulty: EasyGoal: 144.If a frequency distribution has open-ended intervals at the extremes, which measure of centrallocation is the most difficult to estimate?A)MedianB)ModeC)MeanD)All of the aboveE)None of the aboveAnswer: CDifficulty: MediumGoal: 245.Which one of the following is referred to as the population mean?A)StatisticB)C)SampleD)None of the aboveAnswer: BDifficulty: MediumGoal: 1Statistical Techniques in Business & Economics, Lind/Marchal/Wathen, 13/e103
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46.Fifteen accounting majors had an average grade of 90 on a finance exam.Seven marketing majorsaveraged 85, while ten finance majors averaged 93 on the same exam.What is the weighted mean for the32 students taking the exam?A)89.84B)89.33C)89.48D)Impossible to determine without more informationAnswer: ADifficulty: MediumGoal: 1AACSB:AS47.In the calculation of the arithmetic mean for grouped data, which value is used to represent all thevalues in a particular class?A)The upper limit of the classB)The lower limit of the classC)The frequency of the classD)The cumulative frequency preceding the classE)The class midpoint.Answer: EDifficulty: MediumGoal: 248.On a survey questionnaire, students were asked to indicate their class rank in college.If there wereonly four choices from which to choose, which measure(s) of central location would be appropriate to usefor the data generated by that questionnaire item?A)Mean and medianB)Mean and modeC)Mode and medianD)Mode onlyE)Median onlyAnswer: CDifficulty: MediumGoal: 149.What is the median of 26, 30, 24, 32, 32, 31, 27 and 29?A)32B)29C)30D)29.5Answer: DDifficulty: MediumGoal: 1