Circle the correct answer: (24 points)

1) If the distribution is right-skewed, then

A) The mean is more than the median.

B) The median is more than the mean.

C) The mean equals the median.

D) No enough information

2) If you select a simple random sample from each college in the university

and combined them in one sample, then this sample is called a ……

A) Simple random sample

B) Systematic sample

C) Stratified sample

D) Cluster sample

3) The mean (average) of the following data 3, 5, 3, b is 3. What is the value of b?

A) 5

B) 4

C) 2

D) 1

4) What is the mean and the median of the following data set: 12, 8, 15, 5, 20

```
A) The mean is 12 and the median is 15
B) The mean 15 and the median is 12
C) The mean is 12 and the median is 12
```

D) The mean is 15 and the median is 15

```
5) For the bell-shaped data, about 95% of the observations within…….
A) One standard deviation of the mean
B) Two standard deviations of the mean
C) Three standard deviations of the mean
D) None of the above
```

6) A measurement scale that rates the temperature is known as

A) Nominal

B) Ordinal

C) Interval

D) Ratio

7) Which of the following is a measure of variation?

A) The IQR

B) The median

C) The mean

D) The mode

8) You collected a data set on the nationality of all students at your university. The best graph to describe this data is a:

```
A) Histogram
B) Box-plot
C) Bar chart
D) None of the above.
```

Problem 2:

Given that the prices of a TV-set are bell-shaped with mean $950 and standard deviation $150, answer the following (8 points)

a) About 99.7% of the prices are between $ ……. and $……..?

b) About 68% of the prices are between $……….. and $………. ?

Problem 3: (18 points)

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 20 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes).

118 124 108 116 99 120 139 118 119 121

80 130 125 100 105 132 120 128 89 95

Use Mega-stat to answer the following:

use megastat to construct a frequency table with 6 intervals. Paste the frequency table below and answer the following: (4 points)

a) What is the frequency of the first interval? (2 points)

b) What are the limits (lower limit and upper limit) of the second interval? (2 points)

c) What is the cumulative frequency of the fourth interval? (2 points)

d) Find the mean, and the standard deviation of the waiting time?

(4 points)

e) What is the shape of the histogram? (2 points)

f) What is the time such that 75% of the families wait below it?

(2 points)

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End of the assignment
```

Sample Solution

Apart from the cost of capital and assets and liability composition, the size of the banking business is to be considered as a important determinant of the performance of the banks. The size of the banking business denotes the economies of scale .The bank with wide spread retail net work with branches in every nook and corner of the country denotes the large scale economy. But in such kind of the size of the bank the cost of maintaining many branches will be too high and this would definitely reduces the profitability of the banks. The banks in important cities perform better than the bank with too many branches. Income statement: The financial position is being revealed in the Balance Sheet. The method of operation can be clearly visualized in the income statement. The operating ratios would indicate the efficiency of management and the banks success for a particular period of time. By analyzing the income statement, one can assess the banks efficiency in controlling the costs and generating the income. Determinants based on income statements Control of costs The profitability of banking business can be increased by controlling the unnecessary costs. The closure of unprofitable branches or retail outlets would surely help in the reduction of costs. Timely collection of loan amount avoids the bad debts. Also the non-performance of certain assets would create maintenance costs upon which no revenue has been earned. Higher wages and salary will definitely increase the profits of the banks (Tunisia, Malaysia) Like the reduction of cost increases the profit, the increase of certain costs would definitely increase the profitability of the banking company. Payment of higher wages and salary to the employees would boost the moral of the employees and would be a great motivating factor for them. Their performance may be in high quality in the sense they can give better service to the customer with smile on their faces and the work may be finished in less than the standard time allotted. Lower payment of interest on deposits and higher revenue from loans – this wide disparity may lead to higher profitability of the banks. There exists wide disparity of interest earned and interest paid. The difference between the two is the profit for the banks. For deposits less interest is paid whereas the interest that is paid for loans and advances is too hi>

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