Question 1

Which of the following is a characteristic of a standard deviation?

Options :

A : The standard deviation is based on the middle portion of the data.

B : The standard deviation reflects the variation of values between two points.

C : The standard deviation uses all the data points from the data set in its calculation

D : At least 95% of the points in a data set will always be within +-2 standard deviations from the mean.

Answer: C

Question 2

In order to satisfy ordinal level data requirements, you must be able to do which of the following?

Options :

A : Have a true zero

B : Have a constant interval from point to point

C : Be able to meaningfully arrange the data in rank order

D : Be able to establish ratios

Answer: C

Question 3

On January 1 of last year, you had 1,000 emps. Dec 31 there was a 20% reduction in the workforce. By July of this year, you then increased your workforce by 20%. Do you now have 1,000 emps again? If not, how many?

Options :

A : Yes, 1,000

B : No; 800 emps on 12/31, 960 in July

C : No; 800 emps on 12/31, 850 in July

D : Not enough info to compute

Answer: B

Question 4

You have been asked to comment on a proposed provision in the union contract. over the next 3 years, management proposes increases of 2%, 2.5%, 3% over the 3 year life of the contract. The union negotiator insists that it be 3%, 2.5%, 2.0%. Assuming the hourly rate for a job class is 12.50/hr., what is the rate in three years?

Options :

A : It will be 13.46 after three years

B : Management rate is higher

C : Union rate is higher

D : Cannot calculate

Answer: A

Question 5

If you earn 50,000 per year and your co-worker in the same job earns 60,000, what percent adjustment do you need to equal your co-worker?

Options :

A : 18%

B : 20%

C : 10%

D : 80%

Answer: B