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MSIS 3223 Test 2|38 Questions and Answers
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MSIS 3223 Test 2|38 Questions and Answers
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MSIS 3223 Test 2|38 Questionsand Answers
Which of the following is true of normal distributions? - -The Mean, median
and mode are all equal
- Probability is the likelihood that an outcome occurs.T/F - -True
- The union of two events contains all outcomes that belong to either of the
two events. T/F - -True
- Conditional probability is the probability of occurrence of one event 'A'
given that another event 'B' is known to be true or has already occurred. T/F
- -True
- A probability distribution is the characterization of the possible values that
a random variable may assume along with the probability of assuming these
values. T/F - -True
- A random variable is a numerical description of the outcome of an
experiment. T/F - -True
- The expected value of a random variable corresponds to the notion of the
median for a sample. T/F - -False
- The normal distribution is a continuous distribution that is described by the
familiar bell-shaped curve and is perhaps the most important distribution
used in statistics. T/F - -True
- The triangular distribution is defined by three parameters: the mean,
median, and mode. T/F - -False
- Higher variance implies low uncertainty. T/F - -False
- Variance calculates the probability of a random variable lying within a
certain interval. T/F - -True
- True or False
Regression analysis is a tool for building mathematical and statistical models
that characterize relationships between a dependent (ratio) variable and one
or more independent, or explanatory variables (ratio or categorical), all of
which are numerical. T/F - -True
- Regression models of ____ data focus on predicting the future.
, a. time-series
b. panel
c. cross sectional
d. missing - -a. time-series
- In predictive analysis models, a second-order polynomial has only one hill
or valley. T/F - -True
- Excel's Trendline feature cannot be used in modeling trends which include
time variables. T/F - -False
- Creating a scatter chart with an added trendline is visually superior to the
scatter chart
generated by line fit plots. T/F - -True
- The standard error may be assumed to be large if the data are clustered
close to the regression line. T/F - -False
- A good regression model has the fewest number of explanatory variables
providing an adequate interpretation of the dependent variable. T/F - -True
- Regression analysis is a tool for building mathematical and statistical
models that characterize relationships between a dependent variable and
one or more independent, or explanatory, variables. T/F - -True
- Simple linear regression involves finding a linear relationship between one
independent variable, X, and one dependent variable, Y. T/F - -True
- Standard residuals are residuals divided by their standard deviation. T/F - -
True
- Linear functions are used when the rate of change in a variable increases
or decreases quickly and then levels out, such as with diminishing returns to
scale. T/F - -False
- Exponential functions have the property that y rises or falls at constantly
increasing rates. T/F - -True
- The Delphi method is a popular forecasting approach which uses a panel of
experts to respond. to a series of questionnaires. T/F - -True
- Before launching a new line of toys, Toys Inc. used the method of
historical. analogy to. obtain. a. forecast. In this scenario., Toys Inc.:
noted the behavior of its current customers while they use their products.
B
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