Variance – NBC Institute

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 2014 – L1 – SA – Q11 – Data Collection Analysis

Calculates the variance of a grouped data set representing traveling times.

Question

The following data are for the travelling time to and from work in hours per day for a group of factory workers:

No. of hours	No. of workers
Under 1	20
1 up to 2	10
2 up to 3	5
3 up to 4	4

The variance of the data is
A. 1.00
B. 1.01
C. 1.02
D. 1.12
E. 1.22

Answer

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Tags: Frequency Distribution, Travel Time, Variance
Level: Level 1

Topic: Data Collection Analysis
Series: NOV 2014

MI – May 2022 – L1 – SA – Q9 – Basic Variance Analysis

Calculating efficiency ratio based on labor hours.

Question

XYZ manufacturing was able to achieve 95 percent of budgeted labour hours. If budgeted labour hours are 44,737 and standard hours produced is 42,075, what is the efficiency ratio?

A. 106%
B. 101%
C. 99%
D. 94%
E. 89%

Answer

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Tags: Efficiency Ratio, Labor Hours, Variance
Level: Level 1

Topic: Basic Variance Analysis
Series: MAY 2022

QT – May 2016 – L1 – Q6b – Data Collection | Measures of Central Tendency

Compute the sample mean, variance, standard deviation, covariance, and correlation for the given data.

Question

b) Use the sample data below to answer the following questions:

Required:
i) Calculate the sample mean, variance, and standard deviation for . (5 marks)
ii) Calculate the sample mean, variance, and standard deviation for $Y$ . (5 marks)
iii) Calculate the sample covariance between and . (3 marks)
iv) Calculate the sample correlation between and $Y$ . (3 marks)

Answer

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Tags: Correlation, Covariance, Sample Mean, Standard Deviation, Variance
Level: Level 1

Topic: Data Collection, Measures of Central Tendency
Series: MAY 2016

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 – 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

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 2014 – L1 – SA – Q11 – Data Collection Analysis

Calculates the variance of a grouped data set representing traveling times.

Question

The following data are for the travelling time to and from work in hours per day for a group of factory workers:

No. of hours	No. of workers
Under 1	20
1 up to 2	10
2 up to 3	5
3 up to 4	4

The variance of the data is
A. 1.00
B. 1.01
C. 1.02
D. 1.12
E. 1.22

Answer

Find Related Questions by Tags, levels, etc.

Tags: Frequency Distribution, Travel Time, Variance
Level: Level 1

Topic: Data Collection Analysis
Series: NOV 2014

MI – May 2022 – L1 – SA – Q9 – Basic Variance Analysis

Calculating efficiency ratio based on labor hours.

Question

XYZ manufacturing was able to achieve 95 percent of budgeted labour hours. If budgeted labour hours are 44,737 and standard hours produced is 42,075, what is the efficiency ratio?

A. 106%
B. 101%
C. 99%
D. 94%
E. 89%

Answer

Find Related Questions by Tags, levels, etc.

Tags: Efficiency Ratio, Labor Hours, Variance
Level: Level 1

Topic: Basic Variance Analysis
Series: MAY 2022

QT – May 2016 – L1 – Q6b – Data Collection | Measures of Central Tendency

Compute the sample mean, variance, standard deviation, covariance, and correlation for the given data.

Question

b) Use the sample data below to answer the following questions:

Answer

Find Related Questions by Tags, levels, etc.

Tags: Correlation, Covariance, Sample Mean, Standard Deviation, Variance
Level: Level 1

Topic: Data Collection, Measures of Central Tendency
Series: MAY 2016

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

Find Related Questions by Tags, levels, etc.

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

Topic: Measures of Central Tendency
Series: MAY 2016

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

Find Related Questions by Tags, levels, etc.

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

Topic: Measures of Central Tendency
Series: MAY 2018

Question Tag: Variance

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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.

QTB – Nov 2014 – L1 – SA – Q11 – Data Collection Analysis

Calculates the variance of a grouped data set representing traveling times.

MI – May 2022 – L1 – SA – Q9 – Basic Variance Analysis

Calculating efficiency ratio based on labor hours.

QT – May 2016 – L1 – Q6b – Data Collection | Measures of Central Tendency

Compute the sample mean, variance, standard deviation, covariance, and correlation for the given data.

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

Explanation of measures of central tendency and dispersion with examples.

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

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

QTB – Nov 2014 – L1 – SA – Q11 – Data Collection Analysis

Calculates the variance of a grouped data set representing traveling times.

MI – May 2022 – L1 – SA – Q9 – Basic Variance Analysis

Calculating efficiency ratio based on labor hours.

QT – May 2016 – L1 – Q6b – Data Collection | Measures of Central Tendency

Compute the sample mean, variance, standard deviation, covariance, and correlation for the given data.

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

Explanation of measures of central tendency and dispersion with examples.

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Question Tag: Variance

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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.

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

QTB – Nov 2014 – L1 – SA – Q11 – Data Collection Analysis

Calculates the variance of a grouped data set representing traveling times.

You're reporting an error for "QTB – Nov 2014 – L1 – SA – Q11 – Data Collection Analysis"

MI – May 2022 – L1 – SA – Q9 – Basic Variance Analysis

Calculating efficiency ratio based on labor hours.

You're reporting an error for "MI – May 2022 – L1 – SA – Q9 – Basic Variance Analysis"

QT – May 2016 – L1 – Q6b – Data Collection | Measures of Central Tendency

Compute the sample mean, variance, standard deviation, covariance, and correlation for the given data.

You're reporting an error for "QT – May 2016 – L1 – Q6b – Data Collection | Measures of Central Tendency"

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 – 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"

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 2014 – L1 – SA – Q11 – Data Collection Analysis

Calculates the variance of a grouped data set representing traveling times.

You're reporting an error for "QTB – Nov 2014 – L1 – SA – Q11 – Data Collection Analysis"

MI – May 2022 – L1 – SA – Q9 – Basic Variance Analysis

Calculating efficiency ratio based on labor hours.

You're reporting an error for "MI – May 2022 – L1 – SA – Q9 – Basic Variance Analysis"

QT – May 2016 – L1 – Q6b – Data Collection | Measures of Central Tendency

Compute the sample mean, variance, standard deviation, covariance, and correlation for the given data.

You're reporting an error for "QT – May 2016 – L1 – Q6b – Data Collection | Measures of Central Tendency"

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 – 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"

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