Central Tendency – NBC Institute

QTB – May 2017 – L1 – SA – Q9 – Data Collection Analysis

This question identifies the reasons why the mean is preferred for statistical calculations.

Question

The mean is the most commonly used statistics for further statistical calculations because it:
A. Tends to lie at the centre of a set of data
B. Is easy to calculate
C. Takes all observations in the data into consideration
D. Is the most popular
E. Is not affected by extreme values in the data

Answer

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Tags: Central Tendency, Mean Calculation, Statistical Calculations
Level: Level 1

Topic: Data Collection Analysis
Series: MAY 2017

QT – May 2016 – L1 – Q1 – Measures of Central Tendency

This question calculates measures of central tendency and dispersion for fuel gallon consumption in 2010, followed by an interpretation of the results.

Question

Mr. Boo, a Chartered Accountant, is investigating the distribution of the number of fuel gallons consumed per day in the year 2010. He conducted a survey on the number of fuel gallons consumed per day and recorded the following results:

NUMBER OF FUEL GALLONS	PERCENTAGE OF CONSUMPTION
0 but under 5	38%
5 but under 10	25%
10 but under 15	16%
15 but under 20	21%

Required:

a) Calculate the following measures of central tendency: i) Mean (3 marks) ii) Median (3 marks) iii) Mode (3 marks)

b) Compute the following measures of dispersion and skewness: i) Inter-Quartile Range (3 marks) ii) Variance (3 marks) iii) Appropriate coefficient of skewness (3 marks)

c) Using (a) and (b) above, comment on the distribution of the number of fuel gallons consumed per day in 2010 (2 marks).

(Total: 20 marks)

Answer

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Tags: Central Tendency, Dispersion, Inter-Quartile Range, Mean, Median, Mode, Skewness, Variance
Level: Level 1

Topic: Measures of Central Tendency
Series: MAY 2016

QT – Nov 2016 – L1 – Q5 – Measures of Central Tendency

Analyze the returns on two investments using central tendency, dispersion, and provide a decision based on the results.

Question

Suppose that Mr. Kuu, a retired chartered accountant, is facing a decision about where to invest the remaining small fortune after deducting the anticipated expenses for the next year from his consultancy earnings. An investment analyst has suggested two types of investments, and to help make the decision, he obtained some rates of return from each type. He would like to know what he can expect by way of the return on his investment, as well as other types of information, such as whether the rates are spread out over a wide range (making the investment risky) or are grouped tightly together (indicating a relatively low risk). The returns for the two types of investments are listed below:

If he decides to group the returns according to classes 19-10, 9-0, 1-10, 11-20, 21-30, 31-40 :

Required:

a) Draw histograms for each set of returns. (5 marks)
b) Compute the following measures of central tendency for the set of returns:
i) Mean (3 marks)
ii) Median (3 marks)
iii) Mode (3 marks)
c) Compute the following measures of spread for the set of returns:
i) Standard deviation (3 marks)
ii) Coefficient of variation (2 marks)
d) Based on (a), (b), and (c), which investment should Mr. Kuu choose and why? (1 mark)

Answer

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Tags: Central Tendency, Dispersion, Histograms, Investment Analysis, Risk Assessment
Level: Level 1

Topic: Measures of Central Tendency
Series: NOV 2016

QT – May 2018 – L1 – Q6b – Measures of Central Tendency

Calculation of central tendency measures and coefficient of variation based on bi-weekly income data.

Question

The table below shows the range of bi-weekly income of a sample of 50 accountants of a multi-national accounting firm:

Range of Income (GH₵)	Number of Accountants
80 and Less than 100	5
100 and less than 120	4
120 and less than 150	12
150 and less than 170	7
170 and less than 200	8
200 and less than 250	9
250 and less than 300	5

Required:
i) Compute all the THREE measures of central tendency of the range of income and comment on the distribution. (8 marks)
ii) Compute the coefficient of variation of the range of income of the accountants. (7 marks)
iii) Interpret your answer in (ii). (1 mark)

Answer

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Tags: Central Tendency, Coefficient of Variation, Dispersion, Mean, Median, Mode, Standard Deviation
Level: Level 1

Topic: Measures of Central Tendency
Series: MAY 2018

QT – May 2018 – L1 – Q6a – Measures of Central Tendency

Explanation of measures of central tendency and dispersion with examples.

Question

i) Distinguish between measures of central tendency and measures of dispersion (or variation). (2 marks)

ii) State TWO examples of measures of central tendency. (1 mark)

iii) State TWO examples of measures of dispersion (or variation). (1 mark)

Answer

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Tags: Central Tendency, Dispersion, Mean, Median, Mode, Standard Deviation, Variance
Level: Level 1

Topic: Measures of Central Tendency
Series: MAY 2018

QT – Nov 2018 – L1 – Q4a – Measures of Central Tendency

Explain when the mode is preferred as a measure of central tendency over the mean or median.

Question

When is the mode preferred to the mean or the median as a measure of central tendency?

Answer

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Tags: Central Tendency, Mean, Median, Mode
Level: Level 1

Topic: Measures of Central Tendency
Series: NOV 2018

QTB – May 2017 – L1 – SA – Q9 – Data Collection Analysis

This question identifies the reasons why the mean is preferred for statistical calculations.

Question

Answer

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Tags: Central Tendency, Mean Calculation, Statistical Calculations
Level: Level 1

Topic: Data Collection Analysis
Series: MAY 2017

QT – May 2016 – L1 – Q1 – Measures of Central Tendency

This question calculates measures of central tendency and dispersion for fuel gallon consumption in 2010, followed by an interpretation of the results.

Question

NUMBER OF FUEL GALLONS	PERCENTAGE OF CONSUMPTION
0 but under 5	38%
5 but under 10	25%
10 but under 15	16%
15 but under 20	21%

Required:

a) Calculate the following measures of central tendency: i) Mean (3 marks) ii) Median (3 marks) iii) Mode (3 marks)

b) Compute the following measures of dispersion and skewness: i) Inter-Quartile Range (3 marks) ii) Variance (3 marks) iii) Appropriate coefficient of skewness (3 marks)

c) Using (a) and (b) above, comment on the distribution of the number of fuel gallons consumed per day in 2010 (2 marks).

(Total: 20 marks)

Answer

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Tags: Central Tendency, Dispersion, Inter-Quartile Range, Mean, Median, Mode, Skewness, Variance
Level: Level 1

Topic: Measures of Central Tendency
Series: MAY 2016

QT – Nov 2016 – L1 – Q5 – Measures of Central Tendency

Analyze the returns on two investments using central tendency, dispersion, and provide a decision based on the results.

Question

If he decides to group the returns according to classes 19-10, 9-0, 1-10, 11-20, 21-30, 31-40 :

Required:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Central Tendency, Dispersion, Histograms, Investment Analysis, Risk Assessment
Level: Level 1

Topic: Measures of Central Tendency
Series: NOV 2016

QT – May 2018 – L1 – Q6b – Measures of Central Tendency

Calculation of central tendency measures and coefficient of variation based on bi-weekly income data.

Question

The table below shows the range of bi-weekly income of a sample of 50 accountants of a multi-national accounting firm:

Range of Income (GH₵)	Number of Accountants
80 and Less than 100	5
100 and less than 120	4
120 and less than 150	12
150 and less than 170	7
170 and less than 200	8
200 and less than 250	9
250 and less than 300	5

Answer

Find Related Questions by Tags, levels, etc.

Tags: Central Tendency, Coefficient of Variation, Dispersion, Mean, Median, Mode, Standard Deviation
Level: Level 1

Topic: Measures of Central Tendency
Series: MAY 2018

QT – May 2018 – L1 – Q6a – Measures of Central Tendency

Explanation of measures of central tendency and dispersion with examples.

Question

i) Distinguish between measures of central tendency and measures of dispersion (or variation). (2 marks)

ii) State TWO examples of measures of central tendency. (1 mark)

iii) State TWO examples of measures of dispersion (or variation). (1 mark)

Answer

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Tags: Central Tendency, Dispersion, Mean, Median, Mode, Standard Deviation, Variance
Level: Level 1

Topic: Measures of Central Tendency
Series: MAY 2018

QT – Nov 2018 – L1 – Q4a – Measures of Central Tendency

Explain when the mode is preferred as a measure of central tendency over the mean or median.

Question

When is the mode preferred to the mean or the median as a measure of central tendency?

Answer

Find Related Questions by Tags, levels, etc.

Tags: Central Tendency, Mean, Median, Mode
Level: Level 1

Topic: Measures of Central Tendency
Series: NOV 2018

Question Tag: Central Tendency

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QTB – May 2017 – L1 – SA – Q9 – Data Collection Analysis

This question identifies the reasons why the mean is preferred for statistical calculations.

QT – May 2016 – L1 – Q1 – Measures of Central Tendency

This question calculates measures of central tendency and dispersion for fuel gallon consumption in 2010, followed by an interpretation of the results.

QT – Nov 2016 – L1 – Q5 – Measures of Central Tendency

Analyze the returns on two investments using central tendency, dispersion, and provide a decision based on the results.

QT – May 2018 – L1 – Q6b – Measures of Central Tendency

Calculation of central tendency measures and coefficient of variation based on bi-weekly income data.

QT – May 2018 – L1 – Q6a – Measures of Central Tendency

Explanation of measures of central tendency and dispersion with examples.

QT – Nov 2018 – L1 – Q4a – Measures of Central Tendency

Explain when the mode is preferred as a measure of central tendency over the mean or median.

QTB – May 2017 – L1 – SA – Q9 – Data Collection Analysis

This question identifies the reasons why the mean is preferred for statistical calculations.

QT – May 2016 – L1 – Q1 – Measures of Central Tendency

This question calculates measures of central tendency and dispersion for fuel gallon consumption in 2010, followed by an interpretation of the results.

QT – Nov 2016 – L1 – Q5 – Measures of Central Tendency

Analyze the returns on two investments using central tendency, dispersion, and provide a decision based on the results.

QT – May 2018 – L1 – Q6b – Measures of Central Tendency

Calculation of central tendency measures and coefficient of variation based on bi-weekly income data.

QT – May 2018 – L1 – Q6a – Measures of Central Tendency

Explanation of measures of central tendency and dispersion with examples.

QT – Nov 2018 – L1 – Q4a – Measures of Central Tendency

Explain when the mode is preferred as a measure of central tendency over the mean or median.

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QTB – May 2017 – L1 – SA – Q9 – Data Collection Analysis

This question identifies the reasons why the mean is preferred for statistical calculations.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q9 – Data Collection Analysis"

QT – May 2016 – L1 – Q1 – Measures of Central Tendency

This question calculates measures of central tendency and dispersion for fuel gallon consumption in 2010, followed by an interpretation of the results.

You're reporting an error for "QT – May 2016 – L1 – Q1 – Measures of Central Tendency"

QT – Nov 2016 – L1 – Q5 – Measures of Central Tendency

Analyze the returns on two investments using central tendency, dispersion, and provide a decision based on the results.

You're reporting an error for "QT – Nov 2016 – L1 – Q5 – Measures of Central Tendency"

QT – May 2018 – L1 – Q6b – Measures of Central Tendency

Calculation of central tendency measures and coefficient of variation based on bi-weekly income data.

You're reporting an error for "QT – May 2018 – L1 – Q6b – Measures of Central Tendency"

QT – May 2018 – L1 – Q6a – Measures of Central Tendency

Explanation of measures of central tendency and dispersion with examples.

You're reporting an error for "QT – May 2018 – L1 – Q6a – Measures of Central Tendency"

QT – Nov 2018 – L1 – Q4a – Measures of Central Tendency

Explain when the mode is preferred as a measure of central tendency over the mean or median.

You're reporting an error for "QT – Nov 2018 – L1 – Q4a – Measures of Central Tendency"

QTB – May 2017 – L1 – SA – Q9 – Data Collection Analysis

This question identifies the reasons why the mean is preferred for statistical calculations.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q9 – Data Collection Analysis"

QT – May 2016 – L1 – Q1 – Measures of Central Tendency

This question calculates measures of central tendency and dispersion for fuel gallon consumption in 2010, followed by an interpretation of the results.

You're reporting an error for "QT – May 2016 – L1 – Q1 – Measures of Central Tendency"

QT – Nov 2016 – L1 – Q5 – Measures of Central Tendency

Analyze the returns on two investments using central tendency, dispersion, and provide a decision based on the results.

You're reporting an error for "QT – Nov 2016 – L1 – Q5 – Measures of Central Tendency"

QT – May 2018 – L1 – Q6b – Measures of Central Tendency

Calculation of central tendency measures and coefficient of variation based on bi-weekly income data.

You're reporting an error for "QT – May 2018 – L1 – Q6b – Measures of Central Tendency"

QT – May 2018 – L1 – Q6a – Measures of Central Tendency

Explanation of measures of central tendency and dispersion with examples.

You're reporting an error for "QT – May 2018 – L1 – Q6a – Measures of Central Tendency"

QT – Nov 2018 – L1 – Q4a – Measures of Central Tendency

Explain when the mode is preferred as a measure of central tendency over the mean or median.

You're reporting an error for "QT – Nov 2018 – L1 – Q4a – Measures of Central Tendency"

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