LOM 5300 Statistical Analysis for Business Decisions Multiple Choice Questions Chapter 1 1. In a questionnaire‚ respondents are asked to mark their gender as male or female. Gender is an example of the a. ordinal scale. b. nominal scale. c. ratio scale. d. interval scale. ANS: b 2. The scale of measurement that is used to rank order the observation for a variable is called the a. ratio scale. b. ordinal scale. c. nominal scale. d. interval scale. ANS: b 3. Some hotels ask their guests to
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can be highly skewed and non-normal. Even if it is symmetrical it may not be normal but other distribution like t-distribution. A normal random variable is a popular example of a continuous random variable‚ but a continuous r.v. need not be normal. 6. The standard deviation of a standard normal distribution is always equal to 1. True. Its mean is zero and variance (or std deviation) equal to 1.7. If the sample size is as large as 1000‚ we can safely use the normal approximation to binomial even
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which X and Y vary together. SPxy = ∑ [(X - Mx) * (Y - My)] r = SPxy / sqrt (SSx * SSy). SSx‚ SSy are measures of the degree to which X and Y vary independently. Z score formula: r = ∑ (Zx * Zy) / N Covariance = SP / N Assumptions for r: 1) normal distribution of X and Y - check histograms 2) linear relationship between X and Y - check scatterplots 3) homoscedasticity - vertical distance between scatterplot dots and regression line; indicates level of prediction error (aka “residual”)
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CONFIDENTIAL CS/JAN 2012/QMT500 UNIVERSITI TEKNOLOGI MARA FINAL EXAMINATION COURSE COURSE CODE EXAMINATION TIME STATISTICS FOR ENGINEERING QMT500 JANUARY 2012 3 HOURS INSTRUCTIONS TO CANDIDATES 1. This question paper consists of five (5) questions. 2. Answer ALL questions in the Answer Booklet. Start each answer on a new page. Do not bring any material into the examination room unless permission is given by the invigilator. Please check to make sure that this examination pack
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Introductory Business Statistics Econ 231 CRN 32698 Summer 2013 Jan Wolcutt Text: Basic Statistics for Business & Economics‚ 7th Edition by Lind‚ Marchal‚ and Wathen. McGraw-Hill-Irwin‚ 2010. The study guide is optional. You will also be required to buy econnect to do homework assignments and download files from Blackboard. The cheapest way to do this is to buy directly from McGraw
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Preparing to Conduct Business Research: Part 3 RES/351 Feasibility of Non Bulk Items at Costco – Part 1 Costco is the greatest wholesale mega store in today’s market opening its first store in 1983 in Seattle‚ Washington. Its mission statement is "Costco ’s mission is to continually provide our members with quality goods and services at the lowest possible prices. In order to achieve our mission we will conduct our business with the following Code of Ethics in mind: Obey the law‚ Take care
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What proportion of a normal distribution is located in the tail beyond z = +2.00? 0.0228 What proportion of a normal distribution is located between the mean and z = 1.40? 0.4192 The Z-score corresponding to the 52nd percentile is .05 A normally distributed variable has a mean of 10 and a standard deviation of 2. The probability that a value between 7 and 9 is obtained is .2417 An accelerated life test on a large number of type-D alkaline batteries revealed that the mean life for a particular use
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Question 1 2 out of 2 points In general‚ an increase in price increases the break even point if all costs are held constant. Answer Selected Answer: False Correct Answer: False Question 2 2 out of 2 points If variable costs increase‚ but price and fixed costs are held constant‚ the break even point will decrease. Answer Selected Answer: False Correct Answer: False Question 3 2 out of 2 points Parameters are known‚ constant
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70 words per minute‚ it’s a pretty safe bet that it’s not John. That would be a test based simply on raw speed uncorrected for errors. It’s only a one-way test‚ as it’s always possible for people to go slower than normal‚ but it’s unusual or impossible for them to go twice their normal speed. Or‚ it may be that the mystery user at the keyboard and John both type at 50 words per minute; but John never really learned the numbers‚ and always has to slow down an extra half-second whenever a number has
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discovery phase of the lawsuit‚ when both side submit all of the information they have to each other‚ the insurance company hired an independent CPA firm to calculate the GPF. To determine fraud‚ our group had to find the probability that a standard normal random variable exceeded the GPF samples given to us. We used the entire data set of 3‚005 invoices as the population‚
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