MSIS 3223 EXAM 2 (CH. 5, 8, 9) ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

MSIS 3223 EXAM 2 (CH. 5, 8, 9) ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Which of the following is true about variance? - Answer -it measures the uncertainty of a random variable. A probability density function: - Answer -characterizes outcomes of a continuous random variable. Regression models of ________ data focus on predicting the future. - Answer -time-series The Delphi method used for forecasting: - Answer -uses a panel of experts, whose identities are typically kept confidential from one another, to respond to a sequence of questionnaires. Before launching a new line of toys, Toys Inc. used the method of historical analogy to obtain a forecast. In this scenario, Toys Inc.: - Answer -noted the consumer response to similar previous products to marketing campaigns and used the