Qmb 3200 test 1 questions - Study guides, Class notes & Summaries

QMB 3200 Midterm 1 2024 Test with Questions and Answers|100% Solution

UCF QMB 3200 Final Exam Verified Questions with Correct Answers Graded A+ A variable that cannot be measured in numerical terms is called a _____. a. dependent variable b. constant variable c. qualitative variable d. non-measurable random variable c. qualitative variable The difference between the observed value of the dependent variable and the value predicted by using the estimated regression equation is the _____. a. standard error b. residual c. predicted interval d. variance b. ...

Qmb 3200 Test 2 Concepts Ucf Exam Questions And Answers 100% Verified As the test statistic becomes larger, the p-value: - answerbecomes smaller. The probability of making a Type I error when the null hypothesis is true as an equality is called the: - answerlevel of significance. In hypothesis testing, the tentative assumption about the population parameter is called: - answerthe null hypothesis. The p-value: - answermust be a number between 0 and 1. For a two-tailed test, the p-value is...

Qmb 3200 Test 2 Concepts Ucf Exam Questions And Answers 100% Verified As the test statistic becomes larger, the p-value: - answerbecomes smaller. The probability of making a Type I error when the null hypothesis is true as an equality is called the: - answerlevel of significance. In hypothesis testing, the tentative assumption about the population parameter is called: - answerthe null hypothesis. The p-value: - answermust be a number between 0 and 1. For a two-tailed test, the p-value is...

QMB 3200 Final Exam Questions And Answers 100% Verified Suppose we have the following data: 12, 17, 13, 25, 16, 21, 30, 14, 16, and 18. To find the 10% trimmed mean, what numbers should be deleted from the calculation? - answer12 and 30 Which of the following is not resistant to the outliers in a data set? a. Median b. Mean c. Variance d. Interquartile range - answerb. mean The pth percentile is a value such that at least p percent of the observations are: - answerless than or equal to...

Descriptive Analytics - Describes Past Data Predictive Analytics - Uses past data to predict Future (inference) Prescriptive Analytics - Uses models to find Optimal Solution Scales of Measurement - Nominal & Ordinal (Categorical); Interval & Ratio (Quantitative) Nominal Data - Data which consists of names, labels, or categories. Ordinal Data - Arbitrary scale where the exact numerical value has no significance other than to rank a set of data points

What is the z score formula? - CORRECT ANSWER-(the observation - mean) / standard deviation What does a z score tell us? - CORRECT ANSWER-how many standard deviations a value of from the mean How do you find the range? - CORRECT ANSWER-biggest value minus smallest value What is the formula used in excel to find the range? - CORRECT ANSWER-=max(array) - min (array) If a data set has an odd number of observations, the median a. Cannot be determined b. is the value of the middle ite...

UCF QMB 3200 Final Exam Verified Questions with Correct Answers Graded A+ Doubling the size of the sample will reduce the standard error of the mean The sample mean is the point estimator of U A simple random sample of size n from an infinite population of size N is to be selected. Each possible sample should have the same probability of being selected Which of the following statements regarding the sampling distribution of sample means is incorrect? The standard deviation of the samplin...

What is the z score formula? - ANSWERS(the observation - mean) / standard deviation What does a z score tell us? - ANSWERShow many standard deviations a value of from the mean How do you find the range? - ANSWERSbiggest value minus smallest value What is the formula used in excel to find the range? - ANSWERS=max(array) - min (array) If a data set has an odd number of observations, the median a. Cannot be determined b. is the value of the middle item when all items are arranged in...

UCF QMB 3200 Final Exam Verified Questions with Correct Answers Graded A+ A variable that cannot be measured in numerical terms is called a _____. a. dependent variable b. constant variable c. qualitative variable d. non-measurable random variable c. qualitative variable The difference between the observed value of the dependent variable and the value predicted by using the estimated regression equation is the _____. a. standard error b. residual c. predicted interval d. variance b. ...