Conditional probability is the probability of occurrence of one event 'A' given that another event 'B' is known to be true or already occurred. - ANSWERTrue
Which of the following is true of normal distributions? - ANSWERThe mean, median, and mode are all equal.
Probability is the likelihood ...
MSIS 3223 Exam 2 Content Questions
& Answers(SCORED A+)
Conditional probability is the probability of occurrence of one event 'A' given that another event 'B'
is known to be true or already occurred. - ANSWERTrue
Which of the following is true of normal distributions? - ANSWERThe mean, median, and mode are
all equal.
Probability is the likelihood that an outcome occurs. - ANSWERTrue
The union of two events contains all outcomes that belong to either of the two events. -
ANSWERTrue
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. - ANSWERTrue
A probability distribution is the characterization of the possible values that a random variable may
assume along with the probability of assuming these values. - ANSWERTrue
A random variable is a numerical description of the outcome of an experiment. - ANSWERTrue
The expected value of a random variable corresponds to the notion of the median for a sample. -
ANSWERFalse
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. - ANSWERTrue
The triangular distribution is defined by three parameters: the mean, median, and mode. -
ANSWERFalse
, Variance calculates the probability of a random variable lying within a certain interval. - ANSWERTrue
Regression models of ______ data focus on predicting the future. - ANSWERtime-series
Simple linear regression involves finding a linear relationship between one independent variable, X,
and one dependent variable, Y. - ANSWERTrue
Standard residuals (observed errors) are residuals divided by their standard deviation. - ANSWERTrue
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. - ANSWERFalse
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.
- ANSWERTrue
In predictive analysis models, a second-order polynomial has only one hill or valley. - ANSWERTrue
Excel's Trendline feature cannot be used in modeling trends which include time variables.
Group of answer choices - ANSWERFalse
Creating a scatter chart with an added trendline is visually superior to the scatter chart
generated by line fit plots. - ANSWERTrue
The standard error may be assumed to be large if the data are clustered close to the regression line. -
ANSWERFalse
A good regression model has the fewest number of explanatory variables providing an adequate
interpretation of the dependent variable. - ANSWERTrue
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.
- ANSWERTrue
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