BUS1200 (SOPH-0017) Foundations of Statistics - Issues with Performing Experiments – Flash Cards

In the sampling, hypothesis testing and analysis of business research data, which of the following is true?   Group of answer choices 1. We make inferences about the population parameters based on sample statistics 2. The sample should be representative of the population 3. A larger sample size is always better 4. Answers1 and 2 only 5. Answers 1, 2 and 3

Which best describes the null hypothesis associated with an Analysis of Variance (ANOVA)?   Group of answer choices a. Ho:  Variance 1 = Variance 2 = Variance 3 b. Ho:  Standard Deviation 1 = Standard Deviation 2 = Standard Deviation 3 c. Ho:  Proportion 1 = Proportion 2 = Proportion 3 d. Ho:  Median 1 = Median 2 = Median 3 e. Ho:  Mean 1 = Mean 2 = Mean 3

Which test is best to test the hypothesis that multiple variances (2 or more) are equal?   Group of answer choices 1. t test 2. proportions test 3. Mood's median test 4. Levene's test 5. Analysis of Variance (ANOVA)

According to Stuart (2010), which of the following statements about observational study designs for causal inference are typically true? Choose all that apply. Including propensity score estimates as a predictor in a regression model on outcomes can help resolve imbalance between treatment and control groups for covariates used in the propensity score model Standard diagnostic tools for binary prediction or classification models (e.g. logistic regression or classification trees) are similarly used in evaluating propensity score estimates When conditional ignorability holds given the observed covariates, then the treatment assignment will also be ignorable conditioned on the propensity scores Overfitting in propensity score estimation can achieve more efficient estimates of treatment effects than using propensity score estimates that are closer to the true propensities Unlike full matching, subclassification, and weighting methods, nearest neighbor matching does not necessarily use all…

A sample of twenty automobiles was taken, and the miles per gallon (MPG), horsepower, and total weight were recorded. Develop a linear regression model to predict MPG using horsepower as the only indepen- dent variable. Develop another model with weight as the independent variable. Which of these two models is better? Explain. MPG 44 44 40 37 37 34 35 32 30 28 26 26 25 22 20 21 18 18 16 16 4 HORSEPOWER 67 50 62 69 66 63 90 99 63 91 94 88 124 97 114 102 114 142 153 139 WEIGHT 1,844 1,998 1,752 1,980 1,797 2,199 2,404 2,611 3,236 2,606 2,580 2,507 2,922 2,434 3,248 2,812 3,382 3,197 4,380 4,036

4.1 TYPES OF RANDOM VARIABLES. Which of the following describe continuous random variables? Which describe discrete random variables? The number of newspapers sold by the New York Times each month The amount of ink used in printing a Sunday edition of the New York Times The actual number of ounces in a 1-gallon bottle of laundry detergent The number of defective parts in a shipment of nuts and bolts The number of people collecting unemployment insurance each month

Which modeling techniques are suitable to build a predictive model ? (Multiple answer may be correct)   Group of answer choices Multiple linear regression Classification tree Logistic regression Clustering

An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold. A random survey of 15 Visa Gold cardholders resulted in a mean household income of $⁢68,420 with a standard deviation of $⁢9100. A random survey of 6 MasterCard Gold cardholders resulted in a mean household income of $⁢59,200 with a standard deviation of $⁢9200. Is there enough evidence to support the executive's claim? Let μ1 be the true mean household income for Visa Gold cardholders and μ2 be the true mean household income for MasterCard Gold cardholders. Use a significance level of α=0.05 for the test. Assume that the population variances are not equal and that the two populations are normally distributed. Step 1 of 4: State the null and alternative hypotheses for the test. Step 2 of 4: Compute the value of the t test statistic. Round your answer to three decimal places. Step 3 of 4: Determine the decision rule for rejecting the…

A technique for the study of interrelationships among variables, usually for the purposes of data reduction and the discovery of underlying constructs or latent dimensions is known as:   a. Factor Analysis   b. Structural Model Analysis   c. Multiple linear regression   d. Reliability Analysis

Under what circumstances would the Mood's Median non-parametric test be applied in business research?   Group of answer choices a. The data are not normally distributed b. Outliers in the data exist c. Multiple medians are to be compared d. Answers 1 and 2 only e. Answers 1, 2 and 3

Which of the following variables would lineartrend extrapolation be more accurate for? (a) An-nual population of the United States or (b) annualsales of cars produced in the United States byFord. Why?

Exercise SA-5 (Algo) Least-Squares Regression (LO5-11 George Caloz & Frères, located in Grenchen, Switzerland, makes luxury custom watches in small lots. One of the company's products, a platinum diving watch, goes through an etching process. The company has recorded etching costs as follows over the last six weeks: Week 1 2 3 4 Units 14 11 16 10 12 15 78 Total Etching Cost $ 27 20 30 20 25 28 $150 For planning purposes, management would like to know the variable etching cost per unit and the total fixed etching cost per week. Exercise 5A-5 Part 2 (Algo) 2-a. Using the least-squares regression method, estimate the variable etching cost per unit and the total fixed etching cost per week. 2-b. Express these estimates in the form Y = a + bx.

In the context of data patterns in a time series, ___________ is the unexplained deviation of a time series from a predictable pattern:  Select one: a. inexplicable variation b. regular variation c. random variation d. seasonal variation e. irregular variation

Which of the following statements is/are not true about regression models? Lütfen bir ya da daha fazlasını seçin: A. The dependent variable is the explanatory variable. B. The error is found by subtracting the actual data value from the predicted data value. C. The intercept coefficient is not typically interpreted. D. Estimates of the slope are found from sample data. E. The regression line minimizes the sum of the squared errors.

What is the group of information representing the qualitative or quantitative attributes of a variable or set of variables?a. Datab. Numbersc. Populationd. Variables

Which of the following describes the data observation that occurs most frequently?   1. Mean 2. Median 3. Mode 4. Range 5. Standard deviation

Which of the following is a probability sampling method? ​a.​Cluster sampling ​b.​Quota sampling ​c.​Snowball sampling ​d.​Convenience sampling ​e.​Judgement sampling