MSIS 3223 Exam 2 (2025/2026) | 90+ Verified Questions & Answers | Probability, Distributions, Regression Analysis, Forecasting Methods | Oklahoma State University – Business Analytics Core

This document offers over 90 expertly verified questions and answers tailored for Exam 2 of MSIS 3223 – Business Analytics, from the 2025/2026 academic year at Oklahoma State University. It is structured to reflect key course material focused on probability theory, regression modeling, and forecasting techniques. Ideal for exam prep, this resource distills complex quantitative methods into straightforward definitions, calculations, and applications. Key topics covered include: Probability Concepts: Classical, empirical (relative frequency), and subjective probability definitions Random Variables: Discrete vs. continuous, expected value, variance, Bernoulli, binomial, Poisson, and normal distributions Probability Rules and Calculations: Joint, marginal, and conditional probabilities; independence checks Regression Analysis: Simple and multiple regression, R-squared, adjusted R-squared, standard error, outliers, residuals, and regression assumptions (e.g., normality of errors) Predictive Modeling Functions: Linear, logarithmic, polynomial, exponential, and power functions Excel Tools for Modeling: Use of the Trendline tool and regression output interpretation Forecasting Methods: Delphi method, historical analogy, time-series analysis, seasonal and cyclical patterns, judgmental forecasting, indicators, and indexes This guide is essential for students pursuing: Management Information Systems (MIS) Business Analytics Operations or Supply Chain Management Data Science or Applied Statistics Finance or Strategic Decision-Making tracks within MBA programs Whether preparing for closed-book exams or using it for mid-semester revision, this study document will help learners build confidence in both theory and application, especially with regard to real-world business data analysis, risk evaluation, and predictive planning. Keywords: MSIS 3223, Oklahoma State University, Exam 2 questions, probability theory, normal distribution, binomial distribution, regression analysis, R squared, forecasting models, time series forecasting, predictive modeling, Bernoulli process, Poisson distribution, Excel trendline, conditional probability, historical analogy, Delphi method, business statistics, judgmental forecasting, business analytics exam, decision modeling, variance and uncertainty