Exam (elaborations)
BUS 302L STATS EXAM QUESTIONS WITH ANSWERS
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BUS 302L STATS EXAM QUESTIONS WITH ANSWERS...
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When calculating a sample's variance, the sum of squared deviations, E, isdivided by - ANSWER n-1.
"Not equal to" rejection regions consist of ANSWER 2 regions and left/right
tail.
If the correlation coefficient = 1 - ANSWER standard error estimate, "Sz" = 0.
The expected value of a random variable is a long-run weighted average.
If there are two or more random samples, the standard error mean - ANSWER
is smaller than the population standard deviation.
If you have product output data, TC production, you can estimate FC/VC using
ANSWER Linear regression.
Choose a probability for your typer II error - the answer is not part of the
hypothesis stage.
The binomial distribution accepts _____ values - ANSWER integer
Increasing sample size "n" induces a drop in the sigma mean.
Statistic - ANSWER summarizes sample data.
*Random variables
, Parameter - ANSWER summarizes population data.
Reasons for calculating the mean data set - ANSWER discover measure of
location.
The normal distribution does not have a mean of - ANSWER 0.
If the P-value is greater than a, reject the null hypothesis.
If the number of observations is minimal or the values are extreme, do not use
the mean function.
Mean - Answer. Half of the observations in a data set are greater.
Median is the midpoint value.
*Extreme values are okay.
Mode - ANSWER most common value.
Measures of Central Location: mean, median, and mode
The probability distribution SYMMETRIC - ANSWER: m = m.
*bell-shaped, regular distribution
If the distribution is favorably skewed to the right, the answer m > m > m
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