Exhibit 10.1 the Following Questions Are Based on the Problem Description and Description

question 39

Multiple Choice

Exhibit 10.1
The following questions are based on the problem description and the output below.
A college admissions officer wants to evaluate graduate school applicants based on their GMAT scores, verbal and quantitative. Students are classified as either successful or not-successful in their graduate studies. The officer has data on 20 current students, ten of whom are doing very well (Group 1) and ten who are not (Group 2) . ​ ​ ​ ​
-Refer to Exhibit 10.1. What percentage of the observations is classified incorrectly?

• A) 90%
• B) 80%
• C) 85%
• D) 15%

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Definitions:

Standard Deviation

A measure indicating the amount of variability or dispersion in a set of related values.

Standard Sample

A representative segment of a material or component used as a reference point for quality control or calibration.

Average Time

The mean time taken to perform a task or activity, calculated by summing the individual times and dividing by the number of observations.

Standard Time

A set duration assigned for completing a given task, based on average time studies and used for planning and scheduling work.