C784 STATISTICS FULL COURSE REVIEW Questions and Correct Solutions 2024

C784 STATISTICS FULL COURSE REVIEW Questions and Correct Solutions 2024 Lurking Variable - Answer -Associated with the explanatory and the response variables that is not directly being studied. Simpson's Paradox - Answer -Occurs when a trend or result that appears in groups of data disappears when we combine the data. Regression Analysis - Answer -A process for estimating and analyzing the relationship between variables. Least-Squares Regression Line - Answer -AKA the line of best fit. y = mx + b "rise over run" Interpolation - Answer -Using existing data along with the Least-Squares Regression Line to make a prediction. Extrapolation - Answer -Estimation by projecting OUTSIDE known data points. p-value - Answer -the probability that a result occurred by chance Significance Levels in Hypothesis Testing - Answer -Statistically Significant: If a measured p-value is less than the significance level. NOT Statistically Significant: If a measured p-value is MORE than the significance level. Empirical Rule - Answer -68 - 95 - 99.7 68% is w/in 1 standard deviation of the mean 95% is w/in 1 standard deviation of the mean 99.7% is w/in 1 standard deviation of th