Business Statistics

                        What is the primary purpose of statistics in business?

• To confuse data
• To summarize and interpret data
• To create random numbers
• To eliminate outliers

                        Which of the following is not a measure of central tendency?

• Mean
• Median
• Mode
• Range

                        What is the formula for calculating the mean in discrete series?

• Σ(fx) / n
• Σ(xi * wi) / Σwi
• (n - 1) / Σ(xi)
• Σ(xi * wi) / n

                        In data interpretation what does an Ogive represent?

• Frequency distribution
• Cumulative frequency distribution
• Relative frequency
• Histogram

                        What is the graphical representation used to display the distribution of a continuous data set?

• Pie chart
• Bar graph
• Histogram
• Line graph

                        Which measure of central tendency is not affected by extreme values or outliers?

• Mean
• Median
• Mode
• Range

                        What is the formula for calculating the median of a data set?

• (n + 1) / 2
• Σ(xi) / n
• Σ(xi * wi) / Σwi
• Σ(xi * fi) / n

                        In statistics what is the function of quartiles?

• Divide the data into four equal parts
• Measure the spread of the data
• Identify the mode of the data
• Calculate the mean of the data

                        What is the purpose of tabulation in statistics?

• To organize data in a systematic manner
• To calculate the mean
• To create histograms
• To find quartiles

                        What does the term "percentile" represent in statistics?

• The top 10% of the data
• A measure of central tendency
• A division of data into four parts
• The percentage of data below a given value