GMAT Practice Questions Latest Update -

GMAT Practice Questions Latest Update -

150 Questions and Verified Correct Answers Golden Ticket to Guaranteed A+ Verified by Professor

Consider a sample with data values of 10, 20 12, 17, and 16 . Compute the -score for each of the five observations (to decimals). Enter negative values as negative numbers.

• CORRECT ANSWER: Step-by-step explanation:

z-score is denoted by: 1

here,

: mean

: standard deviation (or the square root of the variance)

so first we need to find the means of our sample:

Now to find the standard deviation we first need to find the variance of the sample. The variance is the sum of the squares of the differences of each value from the mean.

the standard derviation is simply the square root of the variance!

Now that we all the values for our z-score formula. we can plug it in!

Finally we'll use each value in place of x from our sample into the formula to find the z- score of each value.

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We can even display the z-scores in a table: (the x-values are in ascending order)

The Graduate Management Admission Test (GMAT) is a standardized exam used by many universities as part of the assessment for admission to graduate study in business. The average GMAT score is (Magoosh website). Assume that GMAT scores are bell-shaped with a standard deviation of . Use the empirical rule to answer the following.

b. What percentage of GMAT scores are or higher (to decimal)? - CORRECT ANSWER:

747 is 2σ above the mean. This means that we go from here above:

2.35+0.15 = 2.5%

The Graduate Management Admission Test (GMAT) is a standardized exam used by many universities as part of the assessment for admission to graduate study in business. The average GMAT score is (Magoosh website). Assume that GMAT scores are bell-shaped with a standard deviation of . Use the empirical rule to answer the following.

• What percentage of GMAT scores are between and (to decimal)? - CORRECT

ANSWER: 447 is 1σ below the mean and 547 is the mean. This means that we have

34%.

The Graduate Management Admission Test (GMAT) is a standardized exam used by many universities as part of the assessment for admission to graduate study in business. The average GMAT score is (Magoosh website). Assume that GMAT scores are bell-shaped with a standard deviation of . Use the empirical rule to answer the following.

• What percentage of GMAT scores are between and (to decimal)? - CORRECT

ANSWER: 347 is 2σ below the mean and 647 is 1 above the mean. This means we go

from:

13.5+34+34 = 81.5% 2 / 4

The Graduate Management Admission Test (GMAT) is a standardized exam used by many universities as part of the assessment for admission to graduate study in business. The average GMAT score is (Magoosh website). Assume that GMAT scores are bell-shaped with a standard deviation of . Use the empirical rule to answer the following.

What percentage of GMAT scores are or higher (to decimal)? - CORRECT ANSWER:

Using the empirical rule, we know that 68% of data falls within one standard deviation of the mean; 95% of data falls within two standard deviations of the mean; and 99.7% of data falls within 3 standard deviations of the mean.This means from the mean to 1 standard deviation (σ) above is 34% of data; from the mean to 1 σ below is 34% of data; from 1 σ to 2σ above is 13.5% of data; from 1σ to 2σ below is 13.5% of data; from 2σ to 3σ above is 2.35% of data; from 2σ to 3σ below is 2.35% of data; more than 3σ above is 0.15% of data; and more than 3σ below is 0.15% of data.

647 is 1 σ above the mean. This means that we go from here above;

13.5+2.35+0.15 = 16%

There is a severe shortage of critical care doctors and nurses to provide intensive-care services in hospitals. To offset this shortage, many hospitals, such as Emory Hospital in Atlanta, are using electronic intensive-care units (eICUs) to help provide this care to patients (Emory University News Center). eICUs use electronic monitoring tools and two-way communication through video and audio so that a centralized staff of specially trained doctors and nurses - who can be located as far away as Australia - can provide critical care services to patients located in remote hospitals without fully staffed ICUs.One of the most important metrics tracked by these eICUs is the time that a patient must wait for the first video interaction between the patient and the eICU staff. Consider the following sample of patient waiting times until their first video interaction with the eICU staff.

a. Compute the mean waiting time for - CORRECT ANSWER: (a) 43.83

(b) 43

(c) 42 3 / 4

(d) Q1 41 Q3 46

Using the number of funds as weights, compute the weighted average total return for these mutual funds. (to 2 decimals)

• Is there any difficulty associated with using the "number of funds" as the weights in

computing the weighted average total return in part (a)? Discuss. What else might be used for weights?(i) Using "number of funds" as weights will only be a good approximation if the amount invested in various funds is approximately equal. The amount invested in each fund could be used for weights.(ii) Using "number of funds" as weights results in a good approximation regardless of the amount invested in various funds. There is no need to use a different weight.(iii) Using "number of funds" as weights will only be a good approximation if the amount invested in various funds is approximately equal. There is no other option that could be used for weights.(iv) Using "number of funds" as weights results in a good - CORRECT ANSWER: A)

weighted average :

Σa.b /Σa = (9191 * 4.65) + (2621 * 18.15) + (1419 * 11.36) + (2900 * 6.75) / (9191 +

2612 + 1419 + 2900)

= 126004.14 / 16122

= 7.8156643

• Using the number of funds as weight poses a difficulty as it considers the cost of

funds rater than it's value. Hence, the higher the cost, the higher the return. Value of funds would have been a better weight parameter.(i) Using "number of funds" as weights will only be a good approximation if the amount invested in various funds is approximately equal. The amount invested in each fund could be used for weights.

• Suppose you had invested $10,000 in mutual funds at the beginning of 2007 and
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