1. Statistical inference least likely involves which of the following steps?

A. Forecasting.
B. Estimation and judgment.
C. Description of a data set.


2. Which of the following statements about arithmetic mean is most accurate?

A. Deviations from the arithmetic mean indicate risk.
B. The product of the deviations around the mean is equal to 0.
C. The disadvantage of an arithmetic mean is it fails to make use of all data.


3. If all the observations in a data set have different values, then which of the following relationships is most accurate?

A. Arithmetic Mean < Geometric Mean < Harmonic Mean

B. Geometric Mean < Harmonic Mean < Arithmetic Mean

C. Harmonic Mean < Geometric Mean < Arithmetic Mean



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