A priori probability - Study guides, Class notes & Summaries

1.Bonferroni Test: When planned? Df used? α used? Which/how many contrasts allowed? What test statistic is used to find the critical value? - a.A priori b.Df = 1 c.αβ= αc d.Any and all contrasts allowed e.F 1.Define a 2-way interaction - a.The effect of one IV(A) on the DV varies across levels of another IV (B) 1.Define Carryover effects - a.The effects of earlier trials on the DV scores obtained in later trials 1.Define Experiment-Wise Type 1 Error Rate (αEW) - a.=the probability ...

RMIN 4000 UGA Test 1. Chapters 1-3 Exam Questions and Answers 2024 1) Traditionally, risk has been defined as A) any situation in which the probability of loss is one. B) any situation in which the probability of loss is zero. C) uncertainty concerning the occurrence of loss. D) the probability of a loss occurring. -Answer-C 2) Objective risk is defined as A) the probability of loss. B) the relative variation of actual loss from expected loss. C) uncertainty based on a person's mental...

Test Bank for Principles of Risk Management and Insurance 13th Edition by Rejda 1) Traditionally, risk has been defined as A) any situation in which the probability of loss is one. B) any situation in which the probability of loss is zero. C) uncertainty concerning the occurrence of loss. D) the probability of a loss occurring. Answer: C Question Status: Previous Edition 2) Objective risk is defined as A) the probability of loss. B) the relative variation of actual loss f...

RMIN 4000 uga test 1 Study Guide Solutions Updated 2024 types of risk - ANSWER--pure risk -speculative risk -diversifiable risk -nondiversifiable risk -enterprise risk -systemic risk risk - ANSWER-uncertainty concerning the occurrence of a loss uncertainty - ANSWER-probabilities cannot be estimated loss exposure - ANSWER-any situation or circumstance in which a loss is possible, regardless of whether a loss actually occurs example: earthquake or flood causing damage to a manufacturin...

holdharmless clause - ️️if a manufacturer of scaffolds inserts a hold-harmless clause in a contract with a retailer, the retailer agrees to hold the manufacturer harmless in case a scaffold collapses and someone is injured two ways objective probability can be determined - ️️1) deductive reasoning (priori probabilities): probability of getting a head from the toss of a perfectly balanced coin is 1/2 bc there are two sides 2) inductive reasoning: the probability that a person age 21...

ways of knowing correct answers authority, common sense, intuition, rationalism, empiricism (best), personal experience authority correct answers when someone influential says so common sense correct answers what everyone knows, backed by personal experience intuition correct answers "feeling of knowing" something but not quite sure where the knowledge came from rationalism correct answers a priori (before results) method; knowledge derived from reasoning or logic empericism...

RMIN 4000 UGA Test 1. Chapters 1-3 Questions and Answers Already Passed 1) Traditionally, risk has been defined as A) any situation in which the probability of loss is one. B) any situation in which the probability of loss is zero. C) uncertainty concerning the occurrence of loss. D) the probability of a loss occurring. C 2) Objective risk is defined as A) the probability of loss. B) the relative variation of actual loss from expected loss. C) uncertainty based on a person's menta...

RMIN 4000 UGA Test 1. Chapters 1-3 Questions& Ans 1) Traditionally, risk has been defined as A) any situation in which the probability of loss is one. B) any situation in which the probability of loss is zero. C) uncertainty concerning the occurrence of loss. D) the probability of a loss occurring. - ANSWER-C 2) Objective risk is defined as A) the probability of loss. B) the relative variation of actual loss from expected loss. C) uncertainty based on a person's mental condition or s...

What are the 4 types of measurement scales? - Answer-1. Nominal Scales 2. Ordinal Scales (Assigned to a category) 3. Interval Scales (Relative ranking) 4. Ratio Scales (Equal differences between scale values) NOIR When do we use geometric and arithmetic means to analyze investment returns? - Answer-Arithmetic Mean: To estimate next year's return Geometric Mean: Measure of past performance What are the 3 different types of probabilities? - Answer-1. Empirical Probability (Past data) ...

A priori method - A way of knowing, proposed by Charles Peirce, in which a person develops a belief by reasoning and reaching agreement with others who are convinced of the merits of the reasoned argument. Leading question - In a survey, a question asked in such a way that the answer desired by the questioner is clear. Simple effects analysis - Following an ANOVA, a follow-up test to a significant interaction, comparing individual cells. concurrent validity - the extent to which two measu...