Question Tag: Mean

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QTB – Nov 2014 – L1 – SB – Q2 – Measures of Dispersion

Compare the risk and return of two investments by calculating mean and standard deviation.

Question

In finance, the standard deviation is frequently used to measure the risk of an investment.
An investor is considering two possible investments A and B. A sample of 10 rates of return is recorded for each investment. These rates of return, given as percentages, are as follows:

Investment A:
4, 6, 6, 5, 4, 5, 8, 5, 5, 8

Investment B:
0, -2, 6, 12, 9, 16, -4, 16, 25, 12

Required:
a. Calculate the mean rate of return for each of the two investments. (6 Marks)
b. Calculate the standard deviation of the rate of return for each of the investments. (6 Marks)
c. Which of the two investments is riskier and why? (8 Marks)

(Total: 20 Marks)

Answer

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Tags: Investment Analysis, Mean, Risk Assessment, Standard Deviation
Level: Level 1

Topic: Measures of Dispersion
Series: NOV 2014

QTB – May 2017 – L1 – SA – Q10 – Data Collection Analysis

This question involves finding the standard deviation given the variance and mean.

Question

The variance of is 4, and the mean is 5. Find the standard deviation.

A. 2
B. 3
C. 2
D. 3
E. 16

Answer

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Tags: Business Statistics, Dispersion, Mean, Standard Deviation, Variance
Level: Level 1

Topic: Data Collection Analysis
Series: MAY 2017

QTB – Nov 2015 – L1 – SB – Q5a – Data Collection Analysis

Calculate the mean, median, and mode for the given distribution of student scores.

Question

A group of 24 final year students participated in an Economic Theory Test and their scores were recorded as follows:

12, 14, 18, 7, 11, 15,
8, 15, 10, 14, 19, 9,
14, 6, 13, 14, 12, 16,
10, 9, 12, 15, 8, 17

Required:

Determine the:

Mean,
Median, and
Mode of this distribution.

(Total: 10 Marks)

Answer

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Tags: Data Analysis, Mean, Median, Mode, Student Scores
Level: Level 1

Topic: Data Collection Analysis
Series: NOV 2015

QTB – Nov 2015 – L1 – SA – Q5 – Data Collection Analysis

This question calculates the mean earnings per hour for employees in a company.

Question

In a company having 100 employees, 80 each earn N800.00 per hour and the remaining 20 each earn N1000.00 per hour. What is the mean earnings per hour?

A. N940 per hour
B. N840 per hour
C. N740 per hour
D. N640 per hour
E. N540 per hour

Answer

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Tags: Earnings, Mean, Measures of Central Tendency
Level: Level 1

Topic: Data Collection Analysis
Series: NOV 2015

QTB – Nov 2015 – L1 – SA – Q1 – Data Collection Analysis

This question asks to identify the middle term in a set of ordered observations.

Question

The middle term in a set of ordered observations is referred to as:

A. Geometric mean
B. Median
C. Mean
D. Mode
E. Harmonic mean

Answer

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

Topic: Data Collection Analysis
Series: NOV 2015

QTB – May 2015 – L1 – SA – Q17 – Statistics

Identifying the incorrect statement regarding properties of standard deviation.

Question

The following are properties of standard deviation EXCEPT:

A. The greater the spread of the data, the larger the value of the standard deviation
B. The value of standard deviation equals zero seems unlikely except when all observations take the same value
C. Standard deviation takes into account all items in the data set
D. Standard deviation cannot be used for further statistical analysis
E. Standard deviation is not influenced by the size and unit of measurement

Answer

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Tags: Deviations, Mean, Statistical Properties
Level: Level 1

Topic: Statistics
Series: MAY 2015

QTB – May 2015 – L1 – SA – Q16 – Statistics

Identifying the algebraic sum of deviations from the mean in a dataset.

Question

The algebraic sum of the deviations of a set of numbers from their mean is:

A. The mean of the numbers
B. The modal number
C. The median of the numbers
D. Zero
E. One

Answer

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Tags: Deviations, Mean, Statistics
Level: Level 1

Topic: Statistics
Series: MAY 2015

QT – May 2016 – L1 – Q4 – Probability

Determine percentages of receipts using normal distribution and calculate mean and standard deviation based on given conditions.

Question

a) Receipts at a particular depot have amounts which follow the Normal distribution with a mean of GH¢103.60 and a standard deviation of GH¢8.75.

Required:
i) Determine the percentage of receipts over GH¢120.05.
ii) Determine the percentage of receipts below GH¢92.75.
iii) Determine the percentage of receipts between GH¢83.65 and GH¢117.60.
iv) Determine the receipts amount such that approximately 25 percent of receipts are greater.
v) Above what amount will 90 percent of receipts lie?

b) If 10.56 percent of receipts have an amount above GH¢110.05 and 4.01 percent of receipts have an amount above GH¢120.05.

Required:
Calculate the mean and standard deviation of the receipts assuming that they are normally distributed.

Answer

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Tags: Mean, Normal distribution, Probability, Receipts, Standard Deviation, Z-scores
Level: Level 1

Topic: Probability
Series: MAY 2016

QT – Nov 2017 – L1 – Q4 – Data Collection | Measures of Central Tendency | Measures of Dispersion

Analyze the frequency distribution of access time to a medical consultant, draw an ogive, and calculate measures of central tendency.

Question

Data on access time, in minutes, to a medical consultant who charges by the hour was recorded by his accountant’s assistant over a period of one week. Using a class width of 4 minutes, the following frequency distribution table was obtained:

Access Time (Minutes)	Number of Patients
15 – 19	2
20 – 24	5
25 – 29	8
30 – 34	10
35 – 39	13
40 – 44	17
45 – 49	20
50 – 54	16
55 – 59	12
60 – 64	15

Required:
a) Using a graph sheet, draw a less than or a greater than (more than) cumulative frequency curve (ogive) of the data. (6 marks)
b) From the ogive in (a) above, estimate the median access time. (2 marks)
c) Calculate the mean and the mode of the access times. (6 marks)
d) Calculate the standard deviation of the distribution. (4 marks)
e) Using the values in (b) and (c) above, comment on the skewness of the distribution. (2 marks)
(Total: 20 marks)

Answer

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Tags: Frequency Distribution, Mean, Median, Mode, Ogive, Skewness, Standard Deviation
Level: Level 1

Topic: Data Collection, Measures of Central Tendency, Measures of Dispersion
Series: NOV 2017

QT – May 2019 – L1 – Q4a – Probability

Sketch the normal distribution curve showing the mean, median, and mode.

Question

The continuous random variable is normally distributed with mean $μ$ and variance $σ^{2}$ .

Required:
Sketch the distribution of $X$ and indicate on your sketch the mean, median, and mode. (4 marks)

Answer

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Tags: Mean, Median, Mode, Normal distribution, Probability
Level: Level 1

Topic: Probability
Series: MAY 2019

QTB – Nov 2014 – L1 – SB – Q2 – Measures of Dispersion

Compare the risk and return of two investments by calculating mean and standard deviation.

Question

Investment A:
4, 6, 6, 5, 4, 5, 8, 5, 5, 8

Investment B:
0, -2, 6, 12, 9, 16, -4, 16, 25, 12

(Total: 20 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Investment Analysis, Mean, Risk Assessment, Standard Deviation
Level: Level 1

Topic: Measures of Dispersion
Series: NOV 2014

QTB – May 2017 – L1 – SA – Q10 – Data Collection Analysis

This question involves finding the standard deviation given the variance and mean.

Question

The variance of is 4, and the mean is 5. Find the standard deviation.

A. 2
B. 3
C. 2
D. 3
E. 16

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Statistics, Dispersion, Mean, Standard Deviation, Variance
Level: Level 1

Topic: Data Collection Analysis
Series: MAY 2017

QTB – Nov 2015 – L1 – SB – Q5a – Data Collection Analysis

Calculate the mean, median, and mode for the given distribution of student scores.

Question

A group of 24 final year students participated in an Economic Theory Test and their scores were recorded as follows:

12, 14, 18, 7, 11, 15,
8, 15, 10, 14, 19, 9,
14, 6, 13, 14, 12, 16,
10, 9, 12, 15, 8, 17

Required:

Determine the:

Mean,
Median, and
Mode of this distribution.

(Total: 10 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Data Analysis, Mean, Median, Mode, Student Scores
Level: Level 1

Topic: Data Collection Analysis
Series: NOV 2015

QTB – Nov 2015 – L1 – SA – Q5 – Data Collection Analysis

This question calculates the mean earnings per hour for employees in a company.

Question

In a company having 100 employees, 80 each earn N800.00 per hour and the remaining 20 each earn N1000.00 per hour. What is the mean earnings per hour?

A. N940 per hour
B. N840 per hour
C. N740 per hour
D. N640 per hour
E. N540 per hour

Answer

Find Related Questions by Tags, levels, etc.

Tags: Earnings, Mean, Measures of Central Tendency
Level: Level 1

Topic: Data Collection Analysis
Series: NOV 2015

QTB – Nov 2015 – L1 – SA – Q1 – Data Collection Analysis

This question asks to identify the middle term in a set of ordered observations.

Question

The middle term in a set of ordered observations is referred to as:

A. Geometric mean
B. Median
C. Mean
D. Mode
E. Harmonic mean

Answer

Find Related Questions by Tags, levels, etc.

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

Topic: Data Collection Analysis
Series: NOV 2015

QTB – May 2015 – L1 – SA – Q17 – Statistics

Identifying the incorrect statement regarding properties of standard deviation.

Question

The following are properties of standard deviation EXCEPT:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deviations, Mean, Statistical Properties
Level: Level 1

Topic: Statistics
Series: MAY 2015

QTB – May 2015 – L1 – SA – Q16 – Statistics

Identifying the algebraic sum of deviations from the mean in a dataset.

Question

The algebraic sum of the deviations of a set of numbers from their mean is:

A. The mean of the numbers
B. The modal number
C. The median of the numbers
D. Zero
E. One

Answer

Find Related Questions by Tags, levels, etc.

Tags: Deviations, Mean, Statistics
Level: Level 1

Topic: Statistics
Series: MAY 2015

QT – May 2016 – L1 – Q4 – Probability

Determine percentages of receipts using normal distribution and calculate mean and standard deviation based on given conditions.

Question

a) Receipts at a particular depot have amounts which follow the Normal distribution with a mean of GH¢103.60 and a standard deviation of GH¢8.75.

b) If 10.56 percent of receipts have an amount above GH¢110.05 and 4.01 percent of receipts have an amount above GH¢120.05.

Required:
Calculate the mean and standard deviation of the receipts assuming that they are normally distributed.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Mean, Normal distribution, Probability, Receipts, Standard Deviation, Z-scores
Level: Level 1

Topic: Probability
Series: MAY 2016

QT – Nov 2017 – L1 – Q4 – Data Collection | Measures of Central Tendency | Measures of Dispersion

Analyze the frequency distribution of access time to a medical consultant, draw an ogive, and calculate measures of central tendency.

Question

Access Time (Minutes)	Number of Patients
15 – 19	2
20 – 24	5
25 – 29	8
30 – 34	10
35 – 39	13
40 – 44	17
45 – 49	20
50 – 54	16
55 – 59	12
60 – 64	15

Answer

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Tags: Frequency Distribution, Mean, Median, Mode, Ogive, Skewness, Standard Deviation
Level: Level 1

Topic: Data Collection, Measures of Central Tendency, Measures of Dispersion
Series: NOV 2017

QT – May 2019 – L1 – Q4a – Probability

Sketch the normal distribution curve showing the mean, median, and mode.

Question

The continuous random variable is normally distributed with mean $μ$ and variance $σ^{2}$ .

Required:
Sketch the distribution of $X$ and indicate on your sketch the mean, median, and mode. (4 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Mean, Median, Mode, Normal distribution, Probability
Level: Level 1

Topic: Probability
Series: MAY 2019

Question Tag: Mean

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QTB – Nov 2014 – L1 – SB – Q2 – Measures of Dispersion

Compare the risk and return of two investments by calculating mean and standard deviation.

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QTB – May 2017 – L1 – SA – Q10 – Data Collection Analysis

This question involves finding the standard deviation given the variance and mean.

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QTB – Nov 2015 – L1 – SB – Q5a – Data Collection Analysis

Calculate the mean, median, and mode for the given distribution of student scores.

You're reporting an error for "QTB – Nov 2015 – L1 – SB – Q5a – Data Collection Analysis"

QTB – Nov 2015 – L1 – SA – Q5 – Data Collection Analysis

This question calculates the mean earnings per hour for employees in a company.

You're reporting an error for "QTB – Nov 2015 – L1 – SA – Q5 – Data Collection Analysis"

QTB – Nov 2015 – L1 – SA – Q1 – Data Collection Analysis

This question asks to identify the middle term in a set of ordered observations.

You're reporting an error for "QTB – Nov 2015 – L1 – SA – Q1 – Data Collection Analysis"

QTB – May 2015 – L1 – SA – Q17 – Statistics

Identifying the incorrect statement regarding properties of standard deviation.

You're reporting an error for "QTB – May 2015 – L1 – SA – Q17 – Statistics"

QTB – May 2015 – L1 – SA – Q16 – Statistics

Identifying the algebraic sum of deviations from the mean in a dataset.

You're reporting an error for "QTB – May 2015 – L1 – SA – Q16 – Statistics"

QT – May 2016 – L1 – Q4 – Probability

Determine percentages of receipts using normal distribution and calculate mean and standard deviation based on given conditions.

You're reporting an error for "QT – May 2016 – L1 – Q4 – Probability"

QT – Nov 2017 – L1 – Q4 – Data Collection | Measures of Central Tendency | Measures of Dispersion

Analyze the frequency distribution of access time to a medical consultant, draw an ogive, and calculate measures of central tendency.

You're reporting an error for "QT – Nov 2017 – L1 – Q4 – Data Collection | Measures of Central Tendency | Measures of Dispersion"

QT – May 2019 – L1 – Q4a – Probability

Sketch the normal distribution curve showing the mean, median, and mode.

You're reporting an error for "QT – May 2019 – L1 – Q4a – Probability"

QTB – Nov 2014 – L1 – SB – Q2 – Measures of Dispersion

Compare the risk and return of two investments by calculating mean and standard deviation.

You're reporting an error for "QTB – Nov 2014 – L1 – SB – Q2 – Measures of Dispersion"

QTB – May 2017 – L1 – SA – Q10 – Data Collection Analysis

This question involves finding the standard deviation given the variance and mean.

You're reporting an error for "QTB – May 2017 – L1 – SA – Q10 – Data Collection Analysis"

QTB – Nov 2015 – L1 – SB – Q5a – Data Collection Analysis

Calculate the mean, median, and mode for the given distribution of student scores.

You're reporting an error for "QTB – Nov 2015 – L1 – SB – Q5a – Data Collection Analysis"

QTB – Nov 2015 – L1 – SA – Q5 – Data Collection Analysis

This question calculates the mean earnings per hour for employees in a company.

You're reporting an error for "QTB – Nov 2015 – L1 – SA – Q5 – Data Collection Analysis"

QTB – Nov 2015 – L1 – SA – Q1 – Data Collection Analysis

This question asks to identify the middle term in a set of ordered observations.

You're reporting an error for "QTB – Nov 2015 – L1 – SA – Q1 – Data Collection Analysis"

QTB – May 2015 – L1 – SA – Q17 – Statistics

Identifying the incorrect statement regarding properties of standard deviation.

You're reporting an error for "QTB – May 2015 – L1 – SA – Q17 – Statistics"

QTB – May 2015 – L1 – SA – Q16 – Statistics

Identifying the algebraic sum of deviations from the mean in a dataset.

You're reporting an error for "QTB – May 2015 – L1 – SA – Q16 – Statistics"

QT – May 2016 – L1 – Q4 – Probability

Determine percentages of receipts using normal distribution and calculate mean and standard deviation based on given conditions.

You're reporting an error for "QT – May 2016 – L1 – Q4 – Probability"

QT – Nov 2017 – L1 – Q4 – Data Collection | Measures of Central Tendency | Measures of Dispersion

Analyze the frequency distribution of access time to a medical consultant, draw an ogive, and calculate measures of central tendency.

You're reporting an error for "QT – Nov 2017 – L1 – Q4 – Data Collection | Measures of Central Tendency | Measures of Dispersion"

QT – May 2019 – L1 – Q4a – Probability

Sketch the normal distribution curve showing the mean, median, and mode.

You're reporting an error for "QT – May 2019 – L1 – Q4a – Probability"

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