QMB3200 UCF Final Exam UPDATED
ACTUAL Exam Questions and CORRECT
Answers
null hypothesis - CORRECT ANSWER The assumption is that it's true
two-tailed test - CORRECT ANSWER A hypothesis test in which rejection of the null
hypothesis occurs for values of the test statistic in either tail of its sampling distribution.
alternative hypothesis - CORRECT ANSWER aka research hypothesis. It's the opposite of
the null hypothesis. (assumed to be true if we reject the null)
p-value - CORRECT ANSWER the probability used t test the null hypothesis
Type 1 error - CORRECT ANSWER the probability of rejecting a true null hypothesis
Type 2 error - CORRECT ANSWER the probability of not rejecting the null when it
should have been rejected
level of significance - CORRECT ANSWER the rejection region, aka alpha a. (also the
probability of making a type 1 error)
Critical value - CORRECT ANSWER is always the value coming from one of the
statistical tables. It's used with the test statistic value to test the null hypothesis.
One-tailed test - CORRECT ANSWER A hypothesis test in which rejection of the null
hypothesis occurs for values of the test statistic in one tail of its sampling distribution.
, 3 methods to test null and alternative hypothesis - CORRECT ANSWER Critical value
approach, p-value approach, confidence interval approach
Independent random samples - CORRECT ANSWER Samples selected from two
populations, separately and independently.
Matched samples - CORRECT ANSWER Samples in which each data value of one
sample is matched with a corresponding data value of the other sample.
Pooled estimator of P - CORRECT ANSWER An estimator of a population proportion
obtained by computing a weighted average of the point estimators obtained from two
independent samples.
Matched sample design - CORRECT ANSWER One random sample of workers is
selected. Each worker first uses one method and then uses the other method. The order of the two
methods is assigned randomly to the workers, with some workers performing method 1 first and
others performing method 2 first. Each worker provides a pair of data values, one value for
method 1 and another value for method 2. (Generally preferred to the independent sample design
because of improved precision of the estimate)
Independent sample design - CORRECT ANSWER A random sample of workers is
selected and each worker in the sample uses method 1. A second independent random sample of
workers is selected and each worker in this sample uses method 2
Independent variable - CORRECT ANSWER The variable that is doing the predicting or
explaining. It is denoted by x.
dependent variable - CORRECT ANSWER The variable that is being predicted or
explained. It is denoted by y.
SSE - CORRECT ANSWER Residual. Error sum of squares.
ACTUAL Exam Questions and CORRECT
Answers
null hypothesis - CORRECT ANSWER The assumption is that it's true
two-tailed test - CORRECT ANSWER A hypothesis test in which rejection of the null
hypothesis occurs for values of the test statistic in either tail of its sampling distribution.
alternative hypothesis - CORRECT ANSWER aka research hypothesis. It's the opposite of
the null hypothesis. (assumed to be true if we reject the null)
p-value - CORRECT ANSWER the probability used t test the null hypothesis
Type 1 error - CORRECT ANSWER the probability of rejecting a true null hypothesis
Type 2 error - CORRECT ANSWER the probability of not rejecting the null when it
should have been rejected
level of significance - CORRECT ANSWER the rejection region, aka alpha a. (also the
probability of making a type 1 error)
Critical value - CORRECT ANSWER is always the value coming from one of the
statistical tables. It's used with the test statistic value to test the null hypothesis.
One-tailed test - CORRECT ANSWER A hypothesis test in which rejection of the null
hypothesis occurs for values of the test statistic in one tail of its sampling distribution.
, 3 methods to test null and alternative hypothesis - CORRECT ANSWER Critical value
approach, p-value approach, confidence interval approach
Independent random samples - CORRECT ANSWER Samples selected from two
populations, separately and independently.
Matched samples - CORRECT ANSWER Samples in which each data value of one
sample is matched with a corresponding data value of the other sample.
Pooled estimator of P - CORRECT ANSWER An estimator of a population proportion
obtained by computing a weighted average of the point estimators obtained from two
independent samples.
Matched sample design - CORRECT ANSWER One random sample of workers is
selected. Each worker first uses one method and then uses the other method. The order of the two
methods is assigned randomly to the workers, with some workers performing method 1 first and
others performing method 2 first. Each worker provides a pair of data values, one value for
method 1 and another value for method 2. (Generally preferred to the independent sample design
because of improved precision of the estimate)
Independent sample design - CORRECT ANSWER A random sample of workers is
selected and each worker in the sample uses method 1. A second independent random sample of
workers is selected and each worker in this sample uses method 2
Independent variable - CORRECT ANSWER The variable that is doing the predicting or
explaining. It is denoted by x.
dependent variable - CORRECT ANSWER The variable that is being predicted or
explained. It is denoted by y.
SSE - CORRECT ANSWER Residual. Error sum of squares.
