Financial Statistics and Research — Test

Question 1

A group of college students were asked about their monthly part-time income. The data collected was: $⁢320 , $⁢340 , $⁢330 , $⁢315 , $⁢325 , $⁢340 , $⁢320 , $⁢335 , $⁢330 , $⁢320 Which dot plot correctly represents the data?

Revolt · Accepted Answer

Image with description A dot plot titled Monthly Part-Time Income. A number line from 315 to 340 is labeled Income ($). There is 1 dot above 315, 3 dots above 320, 1 dot above 325, 2 dots above 330, 1 dot above 335, 2 dots above 340.

Question 2

Elaine's shopping expenses for the last six months were: $⁢150 , $⁢160 , $⁢155 , $⁢165 , $⁢155 , and $⁢160 What is the IQR of her shopping expenses?

Revolt · Accepted Answer

7 point 5 dollars

Question 3

A company's annual income tax data for 2022 shows a mean annual employee income of $⁢60,000 , with a standard deviation of annual income of $⁢10,000 Assume that the incomes are normally distributed. What percentage of the company's employees have an annual income between $⁢50,000 and $⁢70,000 ?

Revolt · Accepted Answer

95 point 4 percent

Question 4

A small consulting firm, "TechConsult," wants to assess employee satisfaction to improve workplace culture. The firm has 200 employees across its five office locations. To collect feedback, the HR department sends a survey to employees in only one of the five office locations, which has 40 employees. Out of the 40 employees, 25 responded to the study. The firm finds that the average satisfaction score is 7.5 and concludes that overall employee satisfaction is moderate. Determine which elements of the study are a potential problem

Revolt · Accepted Answer

sample size,sample bias|sampling error

Financial Statistics and Research — Test Answers

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