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2024 C784 CORRELATION & REGRESSION MODULE 6 EXAM WITH CORRECT ANSWERS
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2024 C784 CORRELATION & REGRESSION MODULE 6 EXAM WITH CORRECT ANSWERS
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2024 C784 CORRELATION ®RESSION MODULE 6 EXAM
WITH CORRECT ANSWERS
lurking variable - CORRECT-ANSWERSA variable that is not included in an
analysis but that is related to two (or more) other associated variables which
were analyzed.
What measurements are need for hypothesis testing to be carried out
successfully - CORRECT-ANSWERSsample size*-# observed
mean*-average
standard deviation*-how far the data points are from the mean
range*-diff btwn min and max
degrees of freedom-A number whose value is one less than the sample size,
when conducting a hypothesis test.
SIGNIFICANCE LEVEL - CORRECT-ANSWERSThe probability of rejecting the
null hypothesis when it is true.
The largest allowable p-value. This is the level of randomness that is
tolerated, and is typically set to be 0.05 or 0.01
The significance level specifies how certain you need to be to state that a
result is statistically significant. It represents the probability that a difference
was caused by chance. A significance level is written as the likelihood that
your inference is incorrect. For example, if you decide to use a significance
level of 0.1, that means you accept a conclusion only if there is less than a
0.1 (or 10%) probability that a result was caused by chance. Here, you would
declare something significant, knowing that there is less than a 10% chance
your conclusion is wrong.
To draw a conclusion, you must compare this p-value to your significance
level: - CORRECT-ANSWERSIf the p-value is less than the significance level,
the result is significant. The probability that the result is caused by chance is
low enough for us to accept.
, If the p-value is greater than the significance level, the result is not
significant. The probability that the result is caused by chance is too high for
us to accept.
A result is significant if it was likely caused by chance
True
False - CORRECT-ANSWERSThis statement is false. A result is significant if it
was unlikely to have been caused by chance.
A result is significant if the p-value is ... - CORRECT-ANSWERSIf the p-value is
less than the significance level, the result is significant.
For a hypothesis test with a significance level of 0.05, what p-value would be
statistically significant? - CORRECT-ANSWERSA p-value less than the
significance level is considered to be statistically significant. For a test with a
significance level of 0.05, a p-value of 0.02 is statistically significant.
If a hypothesis test results in a p-value of 0.2, what is the probability the
result was caused by chance? - CORRECT-ANSWERSA p-value of 0.2 means
that there is a 20% probability the result was caused by chance
Which of the following significance levels carries the lowest risk of
accidentally drawing a conclusion when the result was actually caused by
chance?
0.08
0.06
0.04
0.02 - CORRECT-ANSWERSA significance level of 0.02 indicates that you only
declare significance if there is less than a 2% chance that the result is
caused by
For a hypothesis test with a significance level of 0.1, what p-value would not
be statistically significant?
0.1
0.14
0.02
0.08 - CORRECT-ANSWERSa p-value of 0.14 is not statistically significant.
A p-value greater than the significance level is considered to be not
statistically significant. For a test with a significance level of 0.1,
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