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Exam (elaborations)

BUS 302L STATS EXAM QUESTIONS WITH ANSWERS

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BUS 302L STATS EXAM QUESTIONS WITH ANSWERS...

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BUS 302L STATS
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Uploaded on
September 16, 2024
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Written in
2024/2025
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When calculating a sample's variance, the sum of squared deviations, E, is
divided by - ANSWER n-1.

"Not equal to" rejection regions consist of ANSWER 2 regions and left/right
tail.


If the correlation coefficient = 1 - ANSWER standard error estimate, "Sz" = 0.


The expected value of a random variable is a long-run weighted average.


If there are two or more random samples, the standard error mean - ANSWER
is smaller than the population standard deviation.


If you have product output data, TC production, you can estimate FC/VC using
ANSWER Linear regression.


Choose a probability for your typer II error - the answer is not part of the
hypothesis stage.


The binomial distribution accepts _____ values - ANSWER integer


Increasing sample size "n" induces a drop in the sigma mean.


Statistic - ANSWER summarizes sample data.


*Random variables

, Parameter - ANSWER summarizes population data.



Reasons for calculating the mean data set - ANSWER discover measure of
location.



The normal distribution does not have a mean of - ANSWER 0.


If the P-value is greater than a, reject the null hypothesis.


If the number of observations is minimal or the values are extreme, do not use
the mean function.


Mean - Answer. Half of the observations in a data set are greater.


Median is the midpoint value.


*Extreme values are okay.



Mode - ANSWER most common value.


Measures of Central Location: mean, median, and mode


The probability distribution SYMMETRIC - ANSWER: m = m.


*bell-shaped, regular distribution


If the distribution is favorably skewed to the right, the answer m > m > m

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