ISYE 6644 Final Exam Prep | Complete
Study Guide with Practice Questions and
Solutions
What is a possible goal of an indifference-zone normal means selection technique?
- ---✔✔✔ANSWER----Find the normal population having the largest mean,
especially if the largest mean is ≫ the second-largest.
TRUE or FALSE? The Bechhofer procedure for selecting the normal population
with the largest mean specifies the appropriate number of observations to take from
each competing population, and simply selects the competitor having the largest
sample mean. - ---✔✔✔ANSWER----True
TRUE or FALSE? Sometimes a single-stage procedure like Bechhofer's is
inefficient. In fact, it's possible to use certain sequential procedures that take
observations one-at-a-time (instead of all at once in a single stage) to make good
selection decisions using fewer observations. - ---✔✔✔ANSWER----True
,For which scenarios(s) below might it be appropriate to use a Bernoulli selection
procedure?
a) Find the inventory policy having the largest profit.
b) Find the drug giving the best chance of a cure.
c) Find the maintenance policy having the lowest failure probability.
d) Find the scheduling rule that that has the best chance of making an on-time
delivery. - ---✔✔✔ANSWER----All three of (b), (c), and (d).
Suppose that a Bernoulli selection procedure tells you to take 100 observations
from each of two populations, A and B. It turns out that A gets 85 successes and B
gets 46 successes. What do you think? - ---✔✔✔ANSWER----1) A almost
certainly has a higher success probability than B.
2) We could've probably stopped sampling a bit earlier (i.e., with fewer than 100
observations) because A was so far ahead of B.
For which scenarios(s) below might it be appropriate to use a multinomial
selection procedure? - ---✔✔✔ANSWER----Find the most-popular political
candidate.
Suppose that we want to know which of Coke, Pepsi and Dr.pepper is the most
popular. We would like to make the correct selection with probability of at least
P*=0.90 in the event that the ration of the highest-to-second-highest preference
probabilities happens to be at least 0*=1.4. How many people does the single-stage
procedure Mbem require us to interview? - ---✔✔✔ANSWER----126
Go to the table in the notes and pick off the entry for k=3, P^⋆=0.90, and θ^⋆=1.4.
, Which of the following parameters can you get confidence intervals for?
Means
Variances
Quantiles
Differences between the means of two systems - ---✔✔✔ANSWER----All
of the above
If we have an iid normal sample of observations, X1, X2,...Xn, what probability
distribution is most-commonly used to obtain cofidence intervals for the mean? - -
--✔✔✔ANSWER----t
TRUE or FALSE? The paired CI for the differences in two means is designed to
work especially well if all of the observations from the first population are
completely independent of all of the observations from the second population. - --
-✔✔✔ANSWER----FALSE. {In fact, it's easier to distinguish between the
two means if Xi is positively correlated with Yi. Think about my parallel parking
example in the class notes.}
TRUE or FALSE? You can use a version of independent replications to obtain
confidence intervals for the difference in the means from two simulation models. -
---✔✔✔ANSWER----TRUE
Study Guide with Practice Questions and
Solutions
What is a possible goal of an indifference-zone normal means selection technique?
- ---✔✔✔ANSWER----Find the normal population having the largest mean,
especially if the largest mean is ≫ the second-largest.
TRUE or FALSE? The Bechhofer procedure for selecting the normal population
with the largest mean specifies the appropriate number of observations to take from
each competing population, and simply selects the competitor having the largest
sample mean. - ---✔✔✔ANSWER----True
TRUE or FALSE? Sometimes a single-stage procedure like Bechhofer's is
inefficient. In fact, it's possible to use certain sequential procedures that take
observations one-at-a-time (instead of all at once in a single stage) to make good
selection decisions using fewer observations. - ---✔✔✔ANSWER----True
,For which scenarios(s) below might it be appropriate to use a Bernoulli selection
procedure?
a) Find the inventory policy having the largest profit.
b) Find the drug giving the best chance of a cure.
c) Find the maintenance policy having the lowest failure probability.
d) Find the scheduling rule that that has the best chance of making an on-time
delivery. - ---✔✔✔ANSWER----All three of (b), (c), and (d).
Suppose that a Bernoulli selection procedure tells you to take 100 observations
from each of two populations, A and B. It turns out that A gets 85 successes and B
gets 46 successes. What do you think? - ---✔✔✔ANSWER----1) A almost
certainly has a higher success probability than B.
2) We could've probably stopped sampling a bit earlier (i.e., with fewer than 100
observations) because A was so far ahead of B.
For which scenarios(s) below might it be appropriate to use a multinomial
selection procedure? - ---✔✔✔ANSWER----Find the most-popular political
candidate.
Suppose that we want to know which of Coke, Pepsi and Dr.pepper is the most
popular. We would like to make the correct selection with probability of at least
P*=0.90 in the event that the ration of the highest-to-second-highest preference
probabilities happens to be at least 0*=1.4. How many people does the single-stage
procedure Mbem require us to interview? - ---✔✔✔ANSWER----126
Go to the table in the notes and pick off the entry for k=3, P^⋆=0.90, and θ^⋆=1.4.
, Which of the following parameters can you get confidence intervals for?
Means
Variances
Quantiles
Differences between the means of two systems - ---✔✔✔ANSWER----All
of the above
If we have an iid normal sample of observations, X1, X2,...Xn, what probability
distribution is most-commonly used to obtain cofidence intervals for the mean? - -
--✔✔✔ANSWER----t
TRUE or FALSE? The paired CI for the differences in two means is designed to
work especially well if all of the observations from the first population are
completely independent of all of the observations from the second population. - --
-✔✔✔ANSWER----FALSE. {In fact, it's easier to distinguish between the
two means if Xi is positively correlated with Yi. Think about my parallel parking
example in the class notes.}
TRUE or FALSE? You can use a version of independent replications to obtain
confidence intervals for the difference in the means from two simulation models. -
---✔✔✔ANSWER----TRUE
