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Total 64 questions
Identify which of the following statements are true.
I. Skewness measures how peaked a set of data is.
II. Skewness is a measure of asymmetry of the distribution of the data about its mean.
III. For a symmetrically distributed data, the mean equals the median but not necessarily the mode.
IV. The value of a measure of skewness can be positive, zero or negative.
- A. I and II
- B. II and IV
- C. I and III
- D. II, III and IV
Answer : B
An insurance company sells policies where, for each policy, the policyholder pays the first
50 of the cost of any claim. A claim reported to the insurance company takes some unknown value x.
Identify which of the mathematical expressions below represents the cost in to the insurance company of the claim.
- A. x - 50
- B. x
- C. max(x, 50)
- D. max(x - 50, 0)
Answer : D
When differentiating the product of two factors, u and v, the Product Rule can be used.
State the Product Rule.
A)
B)
C)
D)
- A. Option A
- B. Option B
- C. Option C
- D. Option D
Answer : D
Define the standard deviation of a finite data set.
- A. The standard deviation is the sum of the difference between each data point and its expected value.
- B. The standard deviation is the product of the difference between each data point and its expected value.
- C. The standard deviation is the square root of the product of the squared difference between each data point and its expected value.
- D. The standard deviation is the square root of the average of the squared difference between each data point and its expected value.
Answer : D
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