1 of 53
Term Definition
For a lower-tail test, the p-value B
in the output from an Excel tool:
a) is correct if the test-statistic is
negative.
b) is the difference from 1.0 if
the test-statistic is negative.
c) is correct if the test-statistic is
zero.
d) is correct if the test-statistic is
positive
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True False
Correct definition
, A
2 of 53
Term Definition
For a one-tailed test, the critical
C
value:
a) divides the sampling
distribution into three parts.
b) is the number of standard
errors away from the sample
mean
c) helps determine if the test
statistic falls in the rejection
region or not.
d) fails to reject the null
hypothesis the test statistic
exceeds the critical values
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True False
3 of 53
Term Definition
Choose the decision that A
minimizes the largest payoff that
can occur among all outcomes
for each decision (minimax
,strategy)
a) Aggressive (Optimistic)
Strategy
b) Conservative (Pessimistic )
Strategy
c) Opportunity Loss Strategy
d) Business Analytics Strategy
Give this one a try later!
True False
Correct definition
B
4 of 53
Term Definition
The average life expectancy of
A
tires produced by Whitney Tire
Company has been 40,000
miles . Management believes
that due to a new production
process , the life expectancy of
its tires has increased . In order
to test the validity of this belief ,
the correct set of hypotheses is
a) H0: u>40,000 Ha: u<=40,000
b) НО: u<>40,000 Ha : u < 40,
000
, c) НО: u <= 40,000 Ha : u > 40,
000
d) HO: u< 40,000 Ha: u >= 40,
000
Give this one a try later!
True False
Correct definition
C
5 of 53
Term Definition
______ is focused on better C
understanding of characteristics
and patterns among variables in
large databases using a variety
of statistical and analytical tools
a) Data mining
b) Analytics mining
c) Cluster mining
d) Associate mining
Give this one a try later!
True False
Correct definition
Term Definition
For a lower-tail test, the p-value B
in the output from an Excel tool:
a) is correct if the test-statistic is
negative.
b) is the difference from 1.0 if
the test-statistic is negative.
c) is correct if the test-statistic is
zero.
d) is correct if the test-statistic is
positive
Give this one a try later!
True False
Correct definition
, A
2 of 53
Term Definition
For a one-tailed test, the critical
C
value:
a) divides the sampling
distribution into three parts.
b) is the number of standard
errors away from the sample
mean
c) helps determine if the test
statistic falls in the rejection
region or not.
d) fails to reject the null
hypothesis the test statistic
exceeds the critical values
Give this one a try later!
True False
3 of 53
Term Definition
Choose the decision that A
minimizes the largest payoff that
can occur among all outcomes
for each decision (minimax
,strategy)
a) Aggressive (Optimistic)
Strategy
b) Conservative (Pessimistic )
Strategy
c) Opportunity Loss Strategy
d) Business Analytics Strategy
Give this one a try later!
True False
Correct definition
B
4 of 53
Term Definition
The average life expectancy of
A
tires produced by Whitney Tire
Company has been 40,000
miles . Management believes
that due to a new production
process , the life expectancy of
its tires has increased . In order
to test the validity of this belief ,
the correct set of hypotheses is
a) H0: u>40,000 Ha: u<=40,000
b) НО: u<>40,000 Ha : u < 40,
000
, c) НО: u <= 40,000 Ha : u > 40,
000
d) HO: u< 40,000 Ha: u >= 40,
000
Give this one a try later!
True False
Correct definition
C
5 of 53
Term Definition
______ is focused on better C
understanding of characteristics
and patterns among variables in
large databases using a variety
of statistical and analytical tools
a) Data mining
b) Analytics mining
c) Cluster mining
d) Associate mining
Give this one a try later!
True False
Correct definition
