Peregrine Foundations of Quantitive Analysis, and Business Statistics
PEREGRINE FOUNDATIONS OF
QUANTITIVE ANALYSIS, AND
BUSINESS STATISTICS
1. The simplest method of obtaining data is by ________________.
Experiments survey
direct observation
self-administered questionnaire: Direct observation
2. ________________ refers to differences between the sample and the
population that exists only because of the observations that happened to be
selected for the sample.: Sampling Error
3. Which is a more serious error because taking a larger sample won't diminish
the size, or the possibility of occurrence, of this error?
Sampling error
Non-sampling error: Non-sampling error
4. A _______________________ is an action or process that leads to one of several
possible outcomes.: Random Experiment
5. A sample space (the list of possible outcomes for an experiment) must be:
Exhaustive of all possibilities
In descending order of likelihood
Comprised of only mutually exclusive possibilities: Exhaustive of all
possibilities
Comprised of only mutually exclusive possibilities
6. Three Approaches to Assigning Probabilities: 1.The classical approach is used
by mathematicians to help determine probability associated with games of
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, Peregrine Foundations of Quantitive Analysis, and Business Statistics
chance. If an experiment has n possible outcomes, this method would assign a
probability of 1/n to each outcome.
2. The relative frequency approach defines probability as the long-run relative
frequency with which an outcome occurs.
3. The subjective approach has us define probability as the degree of belief that
we hold in the occurrence of an event.
7. The classical approach is used by mathematicians to help determine
probability associated with games of chance. If an experiment has n possible
outcomes, this method would assign a probability of 1/n to each outcome.:
classical approach
8. The relative frequency approach defines probability as the long-run relative
frequency with which an outcome occurs.: relative frequency approach
9. The subjective approach has us define probability as the degree of belief
that we hold in the occurrence of an event.: subjective approach
10. The ______________ A and B is the set of all sample points that are in both
A and B. The intersection is denoted: A ) B.: intersection of events
11. The ________________ of event A is the event that occurs when event A does
not occur. The complement of event A is denoted by Ac: complement
12. The_______________ A and B, is the event containing all sample points that
are in A or B or both Union of A and B is denoted: A * B.: union of two events
13. _______________is one of two branches of statistics which focuses on methods
of organizing, summarizing, and presenting data in a convenient and
informative way.: Descriptive statistics
14. ________________ is a body of methods used to draw conclusions or
inferences about characteristics of populations based on sample data.:
Inferential statistics
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PEREGRINE FOUNDATIONS OF
QUANTITIVE ANALYSIS, AND
BUSINESS STATISTICS
1. The simplest method of obtaining data is by ________________.
Experiments survey
direct observation
self-administered questionnaire: Direct observation
2. ________________ refers to differences between the sample and the
population that exists only because of the observations that happened to be
selected for the sample.: Sampling Error
3. Which is a more serious error because taking a larger sample won't diminish
the size, or the possibility of occurrence, of this error?
Sampling error
Non-sampling error: Non-sampling error
4. A _______________________ is an action or process that leads to one of several
possible outcomes.: Random Experiment
5. A sample space (the list of possible outcomes for an experiment) must be:
Exhaustive of all possibilities
In descending order of likelihood
Comprised of only mutually exclusive possibilities: Exhaustive of all
possibilities
Comprised of only mutually exclusive possibilities
6. Three Approaches to Assigning Probabilities: 1.The classical approach is used
by mathematicians to help determine probability associated with games of
1/7
, Peregrine Foundations of Quantitive Analysis, and Business Statistics
chance. If an experiment has n possible outcomes, this method would assign a
probability of 1/n to each outcome.
2. The relative frequency approach defines probability as the long-run relative
frequency with which an outcome occurs.
3. The subjective approach has us define probability as the degree of belief that
we hold in the occurrence of an event.
7. The classical approach is used by mathematicians to help determine
probability associated with games of chance. If an experiment has n possible
outcomes, this method would assign a probability of 1/n to each outcome.:
classical approach
8. The relative frequency approach defines probability as the long-run relative
frequency with which an outcome occurs.: relative frequency approach
9. The subjective approach has us define probability as the degree of belief
that we hold in the occurrence of an event.: subjective approach
10. The ______________ A and B is the set of all sample points that are in both
A and B. The intersection is denoted: A ) B.: intersection of events
11. The ________________ of event A is the event that occurs when event A does
not occur. The complement of event A is denoted by Ac: complement
12. The_______________ A and B, is the event containing all sample points that
are in A or B or both Union of A and B is denoted: A * B.: union of two events
13. _______________is one of two branches of statistics which focuses on methods
of organizing, summarizing, and presenting data in a convenient and
informative way.: Descriptive statistics
14. ________________ is a body of methods used to draw conclusions or
inferences about characteristics of populations based on sample data.:
Inferential statistics
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