Conditional probability is the probability of occurrence of one event 'A' given that another event 'B' is known to be true or already occurred. - ANSWER-True
Which of the following is true of normal distributions? - ANSWER-The mean, median, and mode are all equal.
Probability is the likelihoo...
Conditional probability is the probability of occurrence of one event 'A' given that
another event 'B' is known to be true or already occurred. - ANSWER-True
Which of the following is true of normal distributions? - ANSWER-The mean, median,
and mode are all equal.
Probability is the likelihood that an outcome occurs. - ANSWER-True
The union of two events contains all outcomes that belong to either of the two events. -
ANSWER-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. - ANSWER-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. - ANSWER-
True
A random variable is a numerical description of the outcome of an experiment. -
ANSWER-True
The expected value of a random variable corresponds to the notion of the median for a
sample. - ANSWER-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. -
ANSWER-True
The triangular distribution is defined by three parameters: the mean, median, and mode.
- ANSWER-False
Variance calculates the probability of a random variable lying within a certain interval. -
ANSWER-True
Regression models of ______ data focus on predicting the future. - ANSWER-time-
series
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. - ANSWER-True
, In predictive analysis models, a second-order polynomial has only one hill or valley. -
ANSWER-True
Excel's Trendline feature cannot be used in modeling trends which include time
variables.
Group of answer choices - ANSWER-False
Creating a scatter chart with an added trendline is visually superior to the scatter chart
generated by line fit plots. - ANSWER-True
The standard error may be assumed to be large if the data are clustered close to the
regression line. - ANSWER-False
A good regression model has the fewest number of explanatory variables providing an
adequate interpretation of the dependent variable. - ANSWER-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. - ANSWER-True
Simple linear regression involves finding a linear relationship between one independent
variable, X, and one dependent variable, Y. - ANSWER-True
Standard residuals (observed errors) are residuals divided by their standard deviation. -
ANSWER-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. - ANSWER-False
Exponential functions have the property that y rises or falls at constantly increasing
rates. - ANSWER-True
Exponential function - ANSWER-y+abx
Logarithmic Functions - ANSWER-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. y=ln(x)
One judgmental approach for forecasting is historical analogy, in which a forecast is
obtained through a comparative analysis with a previous situation. - ANSWER-True
The Delphi method is a popular forecasting approach which uses a panel of experts to
respond to a series of questionnaires. - ANSWER-True
Time series that do not have trend, season, or cyclical effects but are relatively constant
and exhibit only random behavior are called stationary time series. - ANSWER-True
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