Chapter 1 The nature of Probability and Statistics Basics of Statistics: 1. Statistics: It is the science of conducting studies to collect‚ organize‚ summarize‚ analyze and draw conclusions from data. In another words‚ it is a scientific field of study that provides approaches to making inferences about populations based on the examinations of smaller sets of data. a. Descriptive statistics: It consists of the collection‚ organization‚ summarization and presentation of data. Examples: sample mean
Premium Sampling Sample Stratified sampling
Principles of Risk Management and Insurance‚ 11e (Rejda) Chapter 1 Risk in Our Society 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
Premium Insurance Risk Risk management
Question Bank for QT -1 –POQ 511 Topic : A) Descriptive Statistics : A1. A bank recorded the age at which an individual first opened a Savings Bank Account and were as follows: 42 44 52 32 23 25 34 33 37 18 19 18 14 16 18 18 23 21 18 23 24 24 26 28 32 43 33 34 19 23 22 21 18 19 18 22 25 24 54 20 21 17 22 24 25 22 23 5 8 29 18 16 17 15 19 21 32 33 34 35 36 37 23 24 25 21 22 33 33 43 27 28 29 30 31 33 17 25 23
Premium Harshad number Arithmetic mean Prime number
the stakeholder interaction model. d. a two-way street. e. a continuum. ANS: A PTS: 1 6. Which of the following industries tends to generate a high level of trust from consumers and stakeholders? a. Insurance b. Technology c. Banks d. Mortgage lenders e. Financial services ANS: B PTS: 1 7. Which of the following is not a benefit that primary stakeholders tend to provide to organizations? a. Supplies of capital and resources. b. Expertise and leadership c.
Premium Business ethics Corporate social responsibility Corporate governance
CHAPTER 1 1. Which of the following would NOT lead to an improvement in the hiring system of an organization? |a. |communicate to the hiring managers about their annoying interview habits | |b. |use scientific methods and efficient selection methods | |c. |determine the motivations of job seekers |
Premium Employment Interview
Chapter 1: Introduction to Quality TRUE/FALSE 1. People view quality subjectively and in relation to differing criteria based on their individual roles in the production-marketing value chain. ANS: T PTS: 1 DIF: Difficulty: Easy NAT: BUSPROG: Analytic TOP: A-head: Defining Quality KEY: Bloom’s: Knowledge 2. The transcendent definition of quality provides a means by which quality can be measured or assessed as a basis for practical business decisions. ANS: F PTS: 1 DIF: Difficulty:
Premium Quality management Quality assurance Management
TEST REVIEW – We will work these problems in class. Data Files for these problems will be disclosed in class during the review. On TEST 3‚ you will be asked to perform hypothesis tests‚ find confidence intervals‚ and conduct regression analyses. Be prepared to also interpret information on any Excel print-outs. Test 3 will be a multiple-choice test. 1. A federal agency responsible for enforcing laws governing weights and measures n=1 routinely inspects packages to determine whether the
Premium Regression analysis Statistics Linear regression
middle of a distribution of numbers‚ such that half the cases are higher and half lower than a value. What statistical measure should he use? A. mean B. median* C. mode D. standard deviation 3. A "codebook" is A. only used in existing statistics research. B. a document that tells the researcher where variables are located in the data file and what numbers go with variable attributes* C. the set of instructions that tell interviewers or experimenters how to treat respondents or subjects
Premium Standard deviation Arithmetic mean Statistics
Project Management: Achieving Competitive Advantage‚ 3e (Pinto) Chapter 1 Introduction: Why Project Management? 1.1 True/False Questions 1) Projects‚ rather than repetitive tasks‚ are now the basis for most value-added in business. Answer: TRUE Diff: 1 Section: 1.0 Introduction Skill: Factual AACSB Tag: Reflective 2) Projects are typically ongoing‚ day-to-day activities that have goods and services as outputs. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill:
Premium Management Strategic management Marketing
Statistics Test Pearson’s correlation test Correlation is a technique for investigating the relationship between two quantitative‚ continuous variables‚ for example‚ age and blood pressure. Pearson’s correlation coefficient (r) is a measure of the strength of the association between the two variables. The nearer the scatter of points is to a straight line‚ the higher the strength of association between the variables. Also‚ it does not matter what measurement units are used (URL1)
Premium Spearman's rank correlation coefficient Statistics