Q1. Assume a sample of beer prices is negatively skewed. Approximately what percentage of the distribution lies within plus or minus 2.40 standard deviations of the mean? A) 95.5%. B) 58.3%. C) 82.6%.
Q2. In a skewed distribution, what is the minimum proportion of observations between +/- two standard deviations from the mean? A) 95%. B) 75%. C) 84%.
Q2. Regardless of the shape of a distribution, according to Chebyshev’s Inequality, what is the minimum percentage of observations that will lie within +/– two standard deviations of the mean?
A) 68%. B) 75%. C) 89%.
Q3. In a skewed distribution, what is the minimum amount of observations that will fall between +/- 1.5 standard deviations from the mean? A) 44%. B) 95%. C) 56%.
Q4. According to Chebyshev’s Inequality, for any distribution, what is the minimum percentage of observations that lie within three standard deviations of the mean? A) 89%. B) 94%. C) 75%.
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