81) A sample of college students revealed their last month income as follows: $765 $680 $623 $980 $875 and $985. How many observations are below the median? A) 1 B) 2 C) 3 D) 4 82) A question in a market survey asks for a respondent’s favorite car model. Which measure of central location should be used to summarize this question? A) arithmetic mean B) geometric mean C) median D) mode 83) The numerical measures mean median and mode provide information concerning the: A) frequency of a data set. B) evaluation of a data set. C) location of the center of a data set. D) direction of a data set. 84) A measure of central tendency that is important in business and economics used in compound interest population growth and total sales growth over time is the: A) arithmetic mean. B) median. C) mode. D) geometric mean. 85) The mode is used infrequently in business applications because it: A) is difficult to compute. B) does not represent the true center of numerical data. C) is too labor intensive. D) is an accurate measure of central tendency. 86) Information about the frequency of sales of a business inventory product’s size or color can best be described by the: A) mode. B) mean. C) median. D) geometric mean. 87) For which type of distribution is the mean usually less than the median when measuring continuous numerical unimodal data? A) skewed-left B) skewed-right C) symmetrical D) flat 88) For which type of distribution is the mean usually greater than the median when measuring continuous numerical unimodal data? A) skewed-left B) skewed-right C) symmetrical D) flat 89) A distribution which contains a relatively small proportion of low values is said to be: A) skewed-left. B) skewed-right. C) symmetrical. D) flat. 90) A distribution which contains a relatively small proportion of high values is said to be: A) skewed-left. B) skewed-right. C) symmetrical. D) flat.
