ISYE 6644 - Final prep questions with answers

ISYE 6644 - Final prep questions with answers
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What is a possible goal of an indifference-zone normal means
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selection technique? - CORRECT ANSWERS ✔✔Find the normal
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population having the largest mean, especially if the largest mean is
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≫ the second-largest.
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TRUE or FALSE? The Bechhofer procedure for selecting the normal
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population with the largest mean specifies the appropriate number
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of observations to take from each competing population, and simply
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selects the competitor having the largest sample mean. - CORRECT
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ANSWERS ✔✔True
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TRUE or FALSE? Sometimes a single-stage procedure like
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Bechhofer's is inefficient. In fact, it's possible to use certain
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sequential procedures that take observations one-at-a-time (instead
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of all at once in a single stage) to make good selection decisions
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using fewer observations. - CORRECT ANSWERS ✔✔True
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For which scenarios(s) below might it be appropriate to use a
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Bernoulli selection procedure? |\ |\




a) Find the inventory policy having the largest profit.
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b) Find the drug giving the best chance of a cure.
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,c) Find the maintenance policy having the lowest failure probability.
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d) Find the scheduling rule that that has the best chance of making
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an on-time delivery. - CORRECT ANSWERS ✔✔All three of (b), (c),
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and (d).
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Suppose that a Bernoulli selection procedure tells you to take 100
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observations from each of two populations, A and B. It turns out |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



that A gets 85 successes and B gets 46 successes. What do you
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think? - CORRECT ANSWERS ✔✔1) A almost certainly has a
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higher success probability than B. |\ |\ |\ |\




2) We could've probably stopped sampling a bit earlier (i.e., with
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fewer than 100 observations) because A was so far ahead of B.
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For which scenarios(s) below might it be appropriate to use a
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multinomial selection procedure? - CORRECT ANSWERS ✔✔Find |\ |\ |\ |\ |\ |\ |\



the most-popular political candidate.
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Suppose that we want to know which of Coke, Pepsi and Dr.pepper
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is the most popular. We would like to make the correct selection
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with probability of at least P*=0.90 in the event that the ration of
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the highest-to-second-highest preference probabilities happens to be
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at least 0*=1.4. How many people does the single-stage procedure
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Mbem require us to interview? - CORRECT ANSWERS ✔✔126
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Go to the table in the notes and pick off the entry for k=3,
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P^⋆=0.90, and θ^⋆=1.4. |\ |\

, Which of the following parameters can you get confidence intervals
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for?
Means
Variances
Quantiles
Differences between the means of two systems - CORRECT |\ |\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔All of the above |\ |\ |\ |\




If we have an iid normal sample of observations, X1, X2,...Xn, what
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probability distribution is most-commonly used to obtain cofidence
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intervals for the mean? - CORRECT ANSWERS ✔✔t
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TRUE or FALSE? The paired CI for the differences in two means is
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designed to work especially well if all of the observations from the
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first population are completely independent of all of the
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observations from the second population. - CORRECT ANSWERS |\ |\ |\ |\ |\ |\ |\ |\



✔✔FALSE. {In fact, it's easier to distinguish between the two means
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if Xi is positively correlated with Yi. Think about my parallel
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parking example in the class notes.}
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TRUE or FALSE? You can use a version of independent replications
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to obtain confidence intervals for the difference in the means from
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two simulation models. - CORRECT ANSWERS ✔✔TRUE
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