Bana 2081 exam Study guides, Class notes & Summaries
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BANA 2081 Exam 3 Questions with Correct Answers
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BANA 2081 Exam 3 Questions with Correct Answers 
 
The purpose of statistical inference is to provide information about the - Answer-population based upon information contained in the sample. 
 
Point Estimate - Answer-the single numerical value used as an estimate of a population parameter 
 
Sample - Answer-subset of a population selected to represent the population 
 
It is impossible to construct a frame for a(n) _____ population. - Answer-infinite 
 
Target population - Answer-population we...
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BANA 2081 Exam 3 Prep Questions and Answers
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BANA 2081 Exam 3 Prep Questions and Answers 
 
The probability distribution that can be described by just one parameter is the: - Answer-Exponential 
 
The time required to load a truck is exponentially distributed with a mean of 15 minutes. What is the probability that a truck will be loaded in 10 minutes or less?: - Answer-0.487 = 
 
From a group of 12 students, we want to select a random sample of 4 students to serve on a university committee. How many combination of random samples of 4 stude...
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BANA 2081 Exam 2 Chapters 4-6 Questions with Answers
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BANA 2081 Exam 2 Chapters 4-6 Questions with Answers 
General Hospital has noted that they admit an average of 8 patients per hour. Assuming a Poisson distribution, what is the probability that during the next hour less then 3 patients will be admitted? (Round your answer to three decimal places.) - Answer-.014 
 
The probability distribution for the number of goals the Lions soccer team makes per game is given below. 
 
 
Number 
Of Goals Probability 
0 0.05 
1 0.15 
2 0.35 
3 0.30 
4 0....
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BANA 2081 Exam 3 Questions with Correct Answers
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BANA 2081 Exam 3 Questions with Correct Answers 
The company identified in Chapter 12, Analytics in Action, is - Answer-General Electric 
 
The Analytics in Action example in Chapter 12 concerned - Answer-investments in production capacity 
 
Chapter 12 focuses on - Answer-Linear Optimization 
 
_____________ or modeling, is the process of translating a verbal statement of a problem into a mathematical statement. - Answer-Problem Formulation 
 
The term _____________ refers to the expression th...
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Bana 2081 Exam 2 Questions with All Correct Answers
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Bana 2081 Exam 2 Questions with All Correct Answers 
The random variable x is known to be uniformly distributed between 1.0 and 1.5. 
A) Show the graph of the probability density function. 
B) Compute P(x = 1.25). 
C) Compute P(1.0 ≤ x ≤ 1.25). 
D) Compute P(1.2 < x < 1.5). - Answer-A) f(x) axis 2, X axis 1.5 
B) 0 
C) 2(0.25) = 0.50 
D) 2(0.30) = 0.60 
 
Delta Airlines quotes a flight time of 5 hours, 3 minutes for a particular flight. Suppose we believe that actual flight times are ...
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BANA 2081 Exam 3 Prep Questions and Answers
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BANA 2081 Exam 3 Prep Questions and Answers 
The probability distribution that can be described by just one parameter is the: - Answer- Exponential 
 
The time required to load a truck is exponentially distributed with a mean of 15 minutes. What is the probability that a truck will be loaded in 10 minutes or less?: - Answer-0.487 
= 
 
From a group of 12 students, we want to select a random sample of 4 students to serve on a university committee. How many combination of random samples of 4 stude...
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BANA 2081 Exam One Prep Questions and Answers
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BANA 2081 Exam One Prep Questions and Answers 
 
The entities on which data are collected are: - Answer-Elements 
 
The set of measurements collected for a particular element is (are) called: - Answer-An observation 
 
In a questionnaire, respondents are asked to mark their sex as male or female. Sex is an example of the: - Answer-Nominal scale 
 
Some hotels ask their guests to rate the hotel's services as excellent, very good, good, and poor. This is an example of the: - Answer-Ordinal scale ...
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BANA 2081 Exam 3 Questions with Correct Answers
- Exam (elaborations) • 9 pages • 2024
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BANA 2081 Exam 3 Questions with Correct Answers 
The company identified in Chapter 12, Analytics in Action, is - Answer-General Electric 
 
The Analytics in Action example in Chapter 12 concerned - Answer-investments in production capacity 
 
Chapter 12 focuses on - Answer-Linear Optimization 
 
 	or modeling, is the process of translating a verbal statement of a problem into a mathematical statement. - Answer-Problem Formulation 
 
 
Constraints are - Answer-Restrictions that limit the settings...
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Bana 2081 Exam 2 Questions with All Correct Answers
- Exam (elaborations) • 6 pages • 2024
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Bana 2081 Exam 2 Questions with All Correct Answers 
The random variable x is known to be uniformly distributed between 1.0 and 1.5. A) Show the graph of the probability density function. 
B) Compute P(x = 1.25). 
C) Compute P(1.0 ≤ x ≤ 1.25). 
D) Compute P(1.2 < x < 1.5). - Answer-A) f(x) axis 2, X axis 1.5 B) 0 
C) 2(0.25) = 0.50 
D) 2(0.30) = 0.60 
 
Delta Airlines quotes a flight time of 5 hours, 3 minutes for a particular flight. Suppose we believe that actual flight times are uni...
-
BANA 2081 Exam One Prep Questions and Answers
- Exam (elaborations) • 4 pages • 2024
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- $12.99
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BANA 2081 Exam One Prep Questions and Answers 
 
The entities on which data are collected are: - Answer-Elements 
 
The set of measurements collected for a particular element is (are) called: - Answer-An observation 
 
In a questionnaire, respondents are asked to mark their sex as male or female. Sex is an example of the: - Answer-Nominal scale 
 
Some hotels ask their guests to rate the hotel's services as excellent, very good, good, and poor. This is an example of the: - Answer-Ordinal scale ...
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