A sample of five Fortune 500 companies showed the following revenues ($ millions

Question

A sample of five Fortune 500 companies showed the following revenues ($ millions); 7505.0, 2904.7, 7208.4, 6819.0, and 195000.0. Based on this information, which of the following statement is correct? a. An estimate average revenue all Fortune 500 companies is 8787.42 ($ millions). b. The average revenue for all Fortune 500 companies is 8787.42 ($ million). c. Over half of all Fortune 500 companies earn at least 7208.4 ($ millions) in revenues. d. If five other Fortune 500 companies were chosen, the average revenue would be 8787.42 ($ millions). A sample of five Fortune 500 companies showed the following industries codes banking, banking, finance, retail, and banking. Based on this information, which of the following statements is correct? a. Story percent of the sample of five companies are banking industries. b. Sixty percent of all Fortune 500 companies are banking industries. C. Banking is the most common type of industry among all Fortune 500 companies. d. If five other Fortune 500 companies were chosen, 60% of them would be banking industries. ___________ is a spreadsheet package. a. Statistical inference b. The bar chart c. The New York Stock Exchange d. Microsoft Excel Dr. Kurt Thearling, a leading practitioner in the field, defines data mining as "the ________ extraction of ________ information from databases". a. through, insightful b. timely, accurate c. automated, predictive d. intentional, useful The major applications of data mining have been made by companies with a strong ________ focus, a. consumer b. manufacturing c. exporting d. research and development Quantitative data that measure how many are ___________: quantitative data that measure how much are ________. a. interval; ratio b. ratio; interval c. continuous; discrete d. discrete; continuous Flight time from Cincinnati to Atlanta is an example of a ________ variable and ________ measurement. a. discrete, interval b. discrete, ratio c. continuous, interval d. continuous, ratio Which of the following is nor a categorical variable? a. your age on your last birthday b. your cell phone area code c. your accounting class start time d. your high school graduation year

Explanation / Answer

25.

The estimate of average revenue is ($7505+$2904.7 + $7208.4+ $6819.9+ $19500)/5 = $8787.6
c) cannot be concluded as it is a conclusion for all 500 countries
b) is not the answer, as 8787.6 is sample estimate and not population' true mean
a) True
d) False. Choosing any 5 may give you any average, not $8787.42

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