Economics Practice Test – Basic Tools for Economic Analysis

Calculate the arithmetic mean of the following data: 20, 10, 18, 5, 15, 35

A. 17      B. 15      C. 17.2      D. 15.2

Identify the type of chart represented below:  



A. Multiple bar chart     B. Component bar chart     C. Simple bar chart     D. Histogram

The following are advantages of mean as a statistical tool EXCEPT _____

A. It is highly representative of a given set. This is because all the values are considered.
B. It is not readily depicted on frequency graphs.
C. Given that it is a calculated average, the mean is definite.
D. The mean lends itself more readily to further structural analysis when compared to other measures of central tendency; it exhibits higher degree of accuracy.

The data in the table below represents the population of a school in a week.  

What percentage of the population is represented on Wednesday?

The most popularly used measure of central tendency is ______ 

A. mean        B. median        C. mode       D. range