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MSIS 3223 Exam 2 Content|84 Questions & Answers
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MSIS 3223 Exam 2 Content|84 Questions & Answers
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MSIS 3223 Exam 2 Content|84Questions & Answers
Conditional probability is the probability of occurrence of one event 'A' given
that another event 'B' is known to be true or already occurred. - -True
- 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. - -True
- The union of two events contains all outcomes that belong to either of the
two events. - -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. - -
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. - -True
- A random variable is a numerical description of the outcome of an
experiment. - -True
- The expected value of a random variable corresponds to the notion of the
median for a sample. - -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. - -True
- The triangular distribution is defined by three parameters: the mean,
median, and mode. - -False
- Higher variance implies low uncertainty. - -False
- Variance calculates the probability of a random variable lying within a
certain interval. - -True
- Regression models of ______ data focus on predicting the future. - -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. - -True
- In predictive analysis models, a second-order polynomial has only one hill
or valley. - -True
- Excel's Trendline feature cannot be used in modeling trends which include
time variables.
Group of answer choices - -False
- Creating a scatter chart with an added trendline is visually superior to the
scatter chart
generated by line fit plots. - -True
- The standard error may be assumed to be large if the data are clustered
close to the regression line. - -False
- A good regression model has the fewest number of explanatory variables
providing an adequate interpretation of the dependent variable. - -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. - -True
- Simple linear regression involves finding a linear relationship between one
independent variable, X, and one dependent variable, Y. - -True
- Standard residuals (observed errors) are residuals divided by their
standard deviation. - -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. - -False
- Exponential functions have the property that y rises or falls at constantly
increasing rates. - -True
- Exponential function - -y+abx
- Logarithmic 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. y=ln(x)
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