Q01 (25 Marks)

Part A (06 Marks)

In fuel economy test in city driving conditions, a hybrid vehicle's mean was 33.2 mpg with a standard deviation of 3.2 mpg. A comparably sized gasoline vehicle's mean was 22.2 mpg with a standard deviation of 2.6 mpg. Which vehicle's mpg was more consistent in relative terms?

Q01 - Part B - i (04 Marks)

Briefly explain the four levels of measurement in data with an appropriate example for each.

Q01 - Part B - ii (03 Marks)

Distinguish between "simple random sample" and "stratified sample" with an appropriate example for each.

Q01 - Part C - i & ii (07 Marks)

Analysis of investment portfolio returns over a 20-year period showed the statistics below

(i) Calculate and compare the coefficient of variation.

(ii) What do the data tells you about risk and return?

Q01 - Part D (05 Marks)

Briefly explain the difference between descriptive statistics and inferential statistics.

Comparative Returns on Four Types of Investments Investment Mean Return Standard Deviation Coefficient of Variation| Venture funds (adjusted) 12.2 10.0 All common stocks 10.6 10.0 Real estate 7.5 12.4 Treasury bills 5.7 0.9