Qmb 6358 - Study guides, Class notes & Summaries
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QMB6358 UPDATED Exam Questions and CORRECT Answers
- Exam (elaborations) • 20 pages • 2024
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Populationthe whole that we are interested in 
Samplea part for which we have data 
ParameterA numerical summary from a population 
StatisticA numerical summary from a sample 
IdentifiersOnly purpose is to give more information about the case 
ex. Real Estate - Parcel Number 
Categorical DataWhen data is put into groups. Ex. Area of town 
We usually talk about percentages and/or proportions
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QMB6358 Key PASSED Exam Questions and CORRECT Answers
- Exam (elaborations) • 16 pages • 2024
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Data was collected from a random selection of students at UF. One of the questions asked 
how many hours they had slept the previous night. The 90% confidence interval comparing 
underclassmen to upperclassmen was (0.015, 0.9153) . 
What is the conclusion statement? We are 95% confident that the population mean 
hours of sleep for underclassmen is between 0.015 more to 0.9153 more than that of 
upperclassmen. 
In a two sample t confidence interval, you are estimating: 
a. the two individual ...
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QMB6358 Certification Exam Questions and CORRECT Answers
- Exam (elaborations) • 16 pages • 2024
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Goodness-of-Fit Measures We will introduce three measures to judge how well the 
sample regression fits the data. 
1. The Standard Error of the Residual (Estimate). 
2. The Coefficient of Determination (R^2) 
3. The Adjusted R^2 
Mean Squared Error To compute the standard error of the residual, we first compute 
the mean squared error. 
- we first compute the error sum of squares 
- dividing SSE by the appropriate degrees of freedom, n-k-1, yields the mean squared error, 
MSE
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