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MSIS 3223 Data Analytics Okstate Exam Questions and Answers 100% Correct

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MSIS 3223 Data MSIS 3223 Data Analytics Okstate Exam Questions and Answers 100% Correct MSIS 3223 Data Analytics Okstate Exam Questions and Answers 100% Correct Okstate Exam Questions and Answers 100% Correct Classical Definition of Probability - ANSWER-If the process that generates the outc...

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  • October 29, 2024
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  • MSIS 3223 Data Analytics Okstate
  • MSIS 3223 Data Analytics Okstate
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MSIS 3223 Data Analytics Okstate Exam
Questions and Answers 100% Correct
Classical Definition of Probability - ANSWER-If the process that generates the outcome
is known, probabilities can be deduced from theoretical arguments.

Relative Frequency Definition - ANSWER-Based on empirical data. The probability that
an outcome will occur is simply the relative frequency associated with that outcome.

Subjective Definition - ANSWER-Based on judgement and experience as sport experts
might predict at the start of the football season

Random Variable - ANSWER-Numerical description of the outcome of an experiment

Expected Value - ANSWER-random variable corresponds to the notion of the mean.

How to compute the variance of the discrete random variable - ANSWER-weighted
average of the squared deviations from the expected value. this is the common
measure of dispersion

Variance measure - ANSWER-the higher the variance, the higher the uncertainty of the
outcome

binomial distribution - ANSWER-the probability distribution of a random variable with
two possible outcomes, each with a constant probability of occurrence is referred to
Bernoulli distribution. Can assume different shapes and amounts of skewness.

Normal distrubution - ANSWER-most important distribution in statistics. Continuous
distribution that resembles the bell shaped curve.

Features of normal distribution - ANSWER-Symmetric, skewness of zero, mean median
and mode are all equal.

Probability Density Functions - ANSWER-the distribution that characterizes outcomes of
a continuous random variable.

Continuous random variable - ANSWER-Outcomes of one or more continuous variables
of real numbers.

Delphi Method - ANSWER-popular judgement approach where a panel of experts are
used to respond to questions. this is to create unbiased and convergence of opinions

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