As part of an economics class project, students were asked to randomly select 500 New Your
Stock Exchange (NYSE) stocks from the Wall Street Journal.
As part of the project, students were
asked to summarize the current prices (also referred to as the closing price of the stock for a
particular trading date) of the collected stocks using graphical and numerical techniques.
Identify the variable of interest for this study.
A) the current price (or closing price) of a NYSE stock
B) a single stock traded on the NYSE
C) the entire set of stocks that are traded on the NYSE
D) the 500 NYSE stocks that current prices were collected from
Q. 2A study attempted to estimate the proportion of Florida residents who were willing to spend
more tax dollars on protecting the Florida beaches from environmental disasters. Forty-five
hundred Florida residents were surveyed.
Which of the following describes the variable of
interest in the study?
A) the response to the question, Are you willing to spend more tax dollars on protecting the
Florida beaches from environmental disasters?
B) the response to the question Do you use the beach?
C) the 4500 Florida residents surveyed
D) the response to the question Do you live along the beach?
Q. 3A study attempted to estimate the proportion of Florida residents who were willing to spend
more tax dollars on protecting the Florida coastline from environmental disasters. Forty-two
hundred Florida residents were surveyed.
Which of the following is the population used in the
study?
A) all Florida residents
B) Florida residents willing to spend more tax dollars protecting the coastline from
environmental disasters
C) all Florida residents who lived along the coastline
D) the 4200 Florida residents who were surveyed
Q. 4An insurance company conducted a study to determine the percentage of cardiologists who had
been sued for malpractice in the previous six years. The sample was randomly chosen from a
national directory of doctors.
What is the variable of interest in this study?
A) all cardiologists in the directory
B) the number of doctors who are cardiologists
C) the responses: have been sued/have not been sued for malpractice in the last six years
D) the doctor's area of expertise (i.e., cardiology, pediatrics, etc.)
Q. 5An assembly line is operating satisfactorily if fewer than 5 of the phones produced per day are
defective. To check the quality of a day's production, the company randomly samples 50 phones
from a day's production to test for defects.
Define the population of interest to the manufacturer.
A) the 50 responses: defective or not defective
B) all the phones produced during the day in question
C) the 5 of the phones that are defective
D) the 50 phones sampled and tested
Q. 6Parking at a university has become a problem. University administrators are interested in
determining the average time it takes a student to find a parking spot.
An administrator
inconspicuously followed 120 students and recorded how long it took each of them to find a
parking spot. Identify the population of interest to the university administration.
A) the students who park at the university between 9 and 10 AM on Wednesdays
B) the 120 students about whom the data were collected
C) the entire set of faculty, staff, and students who park at the university
D) the entire set of students who park at the university