28 Sep When the sum of the lowest data value and the highest data value is divided by 2, the measure is called the _

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Module 4 Quiz

Question 1When the sum of the lowest data value and the highest data value is divided by 2, the measure is called the _________.

 

Question 2If the mode is to the left of the median and the mean is to the right of the median, then the distribution is _________ skewed.

 

Question 3The mean cannot be found for grouped data when there is an open class.

 

Question 4When a distribution is bell-shaped, approximately what percentage of data values will fall within 1 standard deviation of the mean?

 

Question 5One disadvantage of the median is that it is not unique.

 

Question 6Identify a true statement about the Fed.

 

?Question 7Countries that adopted communism in the 1900s—most notably the former Soviet Union, China, Cuba, North Korea, and Vietnam—thrived and prospered more than all the other countries in the world.

 

Question 8Identify the tool that the Fed most frequently uses to expand and contract the money supply in the economy.

 

Question 9?Gross Domestic Product (GDP) tends to overstate the amount of output produced by a nation’s economy.

 

Question 10The sum of all the money borrowed by the government over the years and not yet repaid is the _____.

 

Question 11_________ is a period of robust economic growth and high employment.

 

 

 

Question 12The discount rate is the interest rate the Fed charges on its loans to commercial banks.

 

Question 13Which of the following is a function of the Fed?

 

Question 14The debt ceiling is:

 

Question 15If spending is lower than revenue, the government incurs a budget deficit and must borrow money to cover the shortfall.

 

Question 16The group of all subjects under study is called a(n)_________.

 

Question 17When the sample does not represent the population, it is called a biased sample.

 

Question 18Probability is used as a basis for inferential statistics.

 

Question 19The four basic sampling methods are

 

[1] [2] [3] [4]

 

Specified Answer for: 1

 

Specified Answer for: 2

 

Specified Answer for: 3

 

Specified Answer for: 4

 

 Answers for: 1

 

Evaluation Method         Answer               Case Sensitivity

 

Exact Match       Random              

 

Exact Match       Systemic             

 

Exact Match       Cluster 

 

Exact Match       Stratified            

 

 Answers for: 2

 

Evaluation Method         Answer               Case Sensitivity

 

Exact Match       Random              

 

Exact Match       Systemic             

 

Exact Match       Cluster 

 

Exact Match       Stratified            

 

 Answers for: 3

 

Evaluation Method         Answer               Case Sensitivity

 

Exact Match       Random              

 

Exact Match       Systemic             

 

Exact Match       Cluster 

 

Exact Match       Stratified            

 

 Answers for: 4

 

Evaluation Method         Answer               Case Sensitivity

 

Exact Match       Random              

 

Exact Match       Systemic             

 

Exact Match       Cluster 

 

Exact Match       Stratified            

 

Question 20Three reasons why samples are used in statistics: [1] [2] [3]

 

Specified Answer for: 1

 

Specified Answer for: 2

 

Specified Answer for: 3

 

Answers for: 1

 

Evaluation Method         Answer               Case Sensitivity

 

Exact Match       Saves Time        

 

Exact Match       Saves Money    

 

Exact Match       Use when population is infinite

 

 Answers for: 2

 

Evaluation Method         Answer               Case Sensitivity

 

Exact Match       Saves Time        

 

Exact Match       Saves Money    

 

Exact Match       Use when population is infinite

 

 Answers for: 3

 

Evaluation Method         Answer               Case Sensitivity

 

Exact Match       Saves Time        

 

Exact Match       Saves Money    

 

Exact Match       Use when population is infinite