MA260 – What is a disadvantage of the range as a measure of dispersion

MA2601.The U.S. Federal Aviation Administration reported that passenger revenues on internationalflights increased from $528 million in 1977 to $5,100 million in 2000. What is the geometricmean annual percent increase in international passenger revenues?A.10.4B.27.9C.103.6D.9.962.What is a disadvantage of the range as a measure of dispersion?A.It is based on only two observations.B.It can be distorted by a large mean.C.It is expressed in units not the same as the original data.D.It has no disadvantages.3.visual means useful in calculating joint and conditional probability is:A.a tree diagram.B.a Venn diagram.C.Bayes’ theorem.D.inferential statistics.4.fair coin is tossed 3 times. What is the cumulative probability that the number of heads is lessthan or equal to 2?A.0.5B.0.675C.0.875D.0.0255.What type of probability distribution is the normal distribution?A.DiscreteB.ContinuousC.Both discrete and continuousD.Neither discrete or continuous6.For the normal distribution, the mean plus and minus 1.96 standard deviations will includeabout what percent of the observations?A.50%B.99.7%C.95%D.68%7.Two normal distributions are compared. One has a mean of 10 and a standard deviation of 10.The second normal distribution has a mean of 10 and a standard deviation of 2. Which of thefollowing is true?A.The locations of the distributions are different.B.The distributions are from two different families.C.The dispersions of the distributions are different.D.The dispersions of the distributions are the same8.Of the three components in any decision-making situation, which of the following cannot becontrolled?A.AlternativesB.PayoffC.States of natureD.Seasonal indexes9.The decision approach of lowest expected opportunity loss and the highest expected payoffwill give:A.different possible actions to follow.B.the state of nature.C.the same decision regarding action to follow.D.the result in a decision tree.