BUSINESS RESEARCH METHODS | COMPLETE QUESTIONS AND ANSWERS | 100% RATED
CORRECT | 2025-2026 LATEST UPDATE
One might use simulation to compute a probability when
A. The events are complex
B. We do not know the probability model
C. We do not have random digits
D. There is a lot of time for computations A. The events are complex
You are choosing what to do on a summer day. There is a 20% chance you will go boating all day.
There is a 25% chance you will go shopping all day.
"Boat all day" and "shop all day" are
A. Independent
B. Dependent B. Dependent
True or False: It is plausible that coin flips are independent.
TRUE
FALSE TRUE
The ___ of a random phenomenon that has numerical outcomes is found by multiplying each
outcome by its probability and then adding all the products expected value
An ____ is an average of the possible outcomes in which each outcome is weighted by its
probability, so that outcomes that occur more often get higher weights. Expected value
, The expected value calculated from a probability model really is the long-run average
According to the _____, if a random phenomenon with numerical outcomes is repeated many
times independently, the mean of the actually observed outcomes approaches the expected
value. law of large numbers
The more ____ the outcomes, the more trials are needed to ensure that the mean outcome is
close to the expected value variable
____ draws conclusions about a population on the basis of data about a sample Statistical
inference
____ is an interval calculated from sample data by a process that is guaranteed to capture the
true population parameter in 95% of all samples 95% confidence interval
____ of a statistic is the distribution of values taken by the statistic in all possible samples of the
same size from the same population. sampling distribution
A ______, which gives the probability that the interval will capture the true parameter value in
repeated samples. confidence level C
A remarkable statistical fact, called the _____ says that as we take more and more observations
at random from any population, the distribution of the mean of these observations eventually
gets close to a Normal distribution. central limit theorem
The ______________ ,used to calculate a confidence interval, tells us how often the interval
would contain the parameter if many samples were taken.
CORRECT | 2025-2026 LATEST UPDATE
One might use simulation to compute a probability when
A. The events are complex
B. We do not know the probability model
C. We do not have random digits
D. There is a lot of time for computations A. The events are complex
You are choosing what to do on a summer day. There is a 20% chance you will go boating all day.
There is a 25% chance you will go shopping all day.
"Boat all day" and "shop all day" are
A. Independent
B. Dependent B. Dependent
True or False: It is plausible that coin flips are independent.
TRUE
FALSE TRUE
The ___ of a random phenomenon that has numerical outcomes is found by multiplying each
outcome by its probability and then adding all the products expected value
An ____ is an average of the possible outcomes in which each outcome is weighted by its
probability, so that outcomes that occur more often get higher weights. Expected value
, The expected value calculated from a probability model really is the long-run average
According to the _____, if a random phenomenon with numerical outcomes is repeated many
times independently, the mean of the actually observed outcomes approaches the expected
value. law of large numbers
The more ____ the outcomes, the more trials are needed to ensure that the mean outcome is
close to the expected value variable
____ draws conclusions about a population on the basis of data about a sample Statistical
inference
____ is an interval calculated from sample data by a process that is guaranteed to capture the
true population parameter in 95% of all samples 95% confidence interval
____ of a statistic is the distribution of values taken by the statistic in all possible samples of the
same size from the same population. sampling distribution
A ______, which gives the probability that the interval will capture the true parameter value in
repeated samples. confidence level C
A remarkable statistical fact, called the _____ says that as we take more and more observations
at random from any population, the distribution of the mean of these observations eventually
gets close to a Normal distribution. central limit theorem
The ______________ ,used to calculate a confidence interval, tells us how often the interval
would contain the parameter if many samples were taken.
