Question 1

Which of the following best describes the difference between a parameter and a statistic?

Accepted Answer

A parameter is a measure computed from the entire population and remains constant unless the population changes, while a statistic is computed from a sample and can vary depending on the sample selected.

Question 2

Given the following data set: 5, 7, 8, 12, 15, what is the median?

Accepted Answer

The median is $$8$$

Question 3

Which measure of central tendency is most affected by extreme values?

Accepted Answer

Mean

Question 4

A hotel manager wants to summarize the number of rooms rented each week. Which Excel function should they use to quickly obtain the mean, median, mode, and standard deviation?

Accepted Answer

Use the 'Data Analysis' tool and select 'Descriptive Statistics'.

Question 5

If a data set has two values that occur most frequently, what is the mode?

Accepted Answer

The data set is bimodal, and both values are considered modes.

Question 6

Which formula is used to calculate the sample mean $$\bar{x}$$ for a set of $$n$$ values $$x_1$$, $$x_2$$, ..., x_n$$?

Accepted Answer

$$\bar{x} = \frac{\sum_{i=1}^{n} x_i}{n}$$

Question 7

A hotel has weekly revenues of $$1200, 1500$$, $$1800, 2000$$, and $2500. What is the range of the revenues?

Accepted Answer

Range = $$2500 - 1200 = 1300$$

Question 8

Why might the median be preferred over the mean in describing the center of a data set with extreme values?

Accepted Answer

The median is not affected by extreme values, while the mean can be pulled upward or downward by them.

Question 9

Which of the following is NOT a measure of variation?

Accepted Answer

Mode

Question 10

If the weekly complaints at a hotel are: 0, 1, 0, 2, 0, 1, 0, what is the mode?

Accepted Answer

Mode = 0

Question 11

Which step is necessary in Excel to ensure the correct identification of data columns when using the Descriptive Statistics tool?

Accepted Answer

Check the box for 'Labels in first row'.

Question 12

A hotel manager wants to compare the variability of revenue between two hotels. Which measure should they use?

Accepted Answer

Standard deviation

Question 13

Which formula is used to calculate the population mean $$\mu$$ for a set of $$N$$ values $$x_1$$, $$x_2$$, ..., x_N$$?

Accepted Answer

$$\mu = \frac{\sum_{i=1}^{N} x_i}{N}$$

Question 14

If a hotel manager wants to summarize the central tendency and variability of 'Rooms Rented' using Excel, which options should they select in the Descriptive Statistics dialog box?

Accepted Answer

Select 'Summary Statistics' and 'Labels in first row'.

Question 15

Which of the following is a real-world scenario where the weighted mean would be more appropriate than the simple mean?

Accepted Answer

Calculating the average score of students where each test has a different weight.

Question 16

If the weekly revenue data for a hotel is highly skewed due to one exceptionally high week, which measure of center would best represent the typical weekly revenue?

Accepted Answer

Median

Question 17

Which measure of variation is calculated as the difference between the highest and lowest values in a data set?

Accepted Answer

Range

Question 18

A hotel manager uses Excel's Descriptive Statistics tool and checks 'Summary Statistics'. What information will be provided?

Accepted Answer

Mean, median, mode, range, variance, and standard deviation.

Question 19

Which of the following best describes the process of preparing data for analysis in Excel as shown in the images?

Accepted Answer

Sort the data, then use the 'Data Analysis' tool to select 'Descriptive Statistics', specify the input and output ranges, and check relevant options.

Describing Data Using Numerical Measures

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