Question 1

In conducting a hypothesis test, what is usually to be proven statistically is identified as the null hypothesis.

Accepted Answer

A) True 
 B)False

Question 2

Explain the assumptions underlying ANOVA along with their violations.

Accepted Answer

ANOVA requires assumptions that the m gr

Question 3

Which of the following is a valid one-sample hypothesis test?

Accepted Answer

A) H0: population parameter ≠ constant vs. H1: population parameter = constant B) H0: population parameter > constant vs. H1: population parameter ≤ constant C) H0: population parameter < constant vs. H1: population parameter ≥ constant D) H0: population parameter = constant vs. H1: population parameter ≠ constant A) H0: population parameter ≠ constant vs. H1: population parameter = constant B) H0: population parameter > constant vs. H1: population parameter ≤ constant C) H0: population parameter < constant vs. H1: population parameter ≥ constant D) H0: population parameter = constant vs. H1: population parameter ≠ constant

Question 4

For a two-sample test for means with the population variance being known, the Excel procedure used is the Excel z-test.

Accepted Answer

A) True 
 B)False

Question 5

Use the data given below to answer the following questions).
The following extract from a manufacturer's database shows a sample of 10 suppliers, their transportation charges, and the estimated and actual total costs of supplying materials. Note: Assume a significance level of 0.05 wherever necessary.) $$\begin{array} { | l | c | c | c | } 
\hline \text { Supplier } & \begin{array} { c } 
\text { Transportation } \
\text { Charges }
\end{array} & \begin{array} { c } 
\text { Estirnated Total } \
\text { Cost }
\end{array} & \text { Actual Total Cost } \
\hline \text { Peter } & 340 & 4,500 & 4,680 \
\hline \text { Jdhry } & 560 & 4,500 & 4,790 \
\hline \text { Martin } & 480 & 4,500 & 5,110 \
\hline \text { Philip } & 290 & 4,500 & 4,780 \
\hline \text { Mark } & 370 & 4,500 & 4,810 \
\hline \text { Thomas } & 520 & 4,500 & 4,770 \
\hline \text { Jaison } & 350 & 4,500 & 5,250 \
\hline \text { David } & 430 & 4,500 & 4,930 \
\hline \text { Carter } & 510 & 4,500 & 5,010 \
\hline \text { Leonard } & 270 & 4,500 & 4,810 \
\hline
\end{array}$$
-On studying the database, the manufacturer found out that the average difference between the estimated and actual total costs was $394. Based on the sample data, can the manufacturer conclude that the average difference between the estimated and actual total costs is different from zero?

Accepted Answer

If μ_D denotes the population mean differe

Question 6

If the alternative hypothesis includes the symbol <, the rejection region is in the upper tail.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is true about chi-square distribution?

Accepted Answer

A)  It is a special distribution and is denoted by C2). 
B)  It is characterized by degrees of freedom. 
C)  It is computed using the Excel function CHISQ.INV.TEST. 
D)  It has a left-tail area equal to the expected value of the sample. 
A)  It is a special distribution and is denoted by C2). 
B)  It is characterized by degrees of freedom. 
C)  It is computed using the Excel function CHISQ.INV.TEST. 
D)  It has a left-tail area equal to the expected value of the sample.

Question 8

Which of the following propositions describes an existing theory or belief?

Accepted Answer

A)  standard deviation 
B)  null hypothesis 
C)  proportion 
D)  alternative hypothesis 
A)  standard deviation 
B)  null hypothesis 
C)  proportion 
D)  alternative hypothesis

Question 9

Which of the following denotes the power of the test?

Accepted Answer

A)  α 
B)  1 - β 
C)  β 
D)  1 - α 
A)  α 
B)  1 - β 
C)  β 
D)  1 - α

Question 10

Robin Inc. feared that the average company loss is running beyond $34,000. It initially conducted a hypothesis test on a sample extracted from its database. The hypothesis was formulated as H0: average company loss $34,000 vs. H1: average company loss > $34,000. The test resulted in favor of Robin Inc.'s loss not exceeding $34,000. Detailed study of company accounts later revealed that the average company loss had run up to $37,896. Which of the following errors were made during the hypothesis test?

Accepted Answer

A)  Type III error 
B)  Type II error 
C)  Type I error 
D)  Type IV error 
A)  Type III error 
B)  Type II error 
C)  Type I error 
D)  Type IV error

Question 11

What is the confidence coefficient when the level of significance is 0.03?

Accepted Answer

A)  0.9700 
B)  0.0376 
C)  0.7924 
D)  0.7776 
A)  0.9700 
B)  0.0376 
C)  0.7924 
D)  0.7776

Question 12

Level of significance is the probability of:

Accepted Answer

A)  incorrectly rejecting an actually true null hypothesis. 
B)  correctly failing to reject an actually true null hypothesis. 
C)  incorrectly failing to reject an actually false null hypothesis. 
D)  correctly rejecting an actually false null hypothesis. 
A)  incorrectly rejecting an actually true null hypothesis. 
B)  correctly failing to reject an actually true null hypothesis. 
C)  incorrectly failing to reject an actually false null hypothesis. 
D)  correctly rejecting an actually false null hypothesis.

Question 13

During a study, individuals were asked to rate a product on a scale of 1-5. From the following data, help the researcher determine whether any significant differences exist in opinions among individuals from different regions. Note: Assume a significance level of 0.05 wherever necessary.) $$\begin{array} { | c | c | c| } 
\hline \text { Quintasin } & \text { Paraland } & \text { Bayundera } \
\hline 3 & 1 & 5 \
\hline 4 & 4 & 1 \
\hline 2 & 2 & 3 \
\hline 5 & 2 & 2 \
\hline 1 & 3 & 2 \
\hline 5 & 5 & 5 \
\hline 3 & 5 & 1 \
\hline & 1 & 4 \
\hline & 4 & \
\hline & 2 & \
\hline
\end{array}$$

Accepted Answer

The null hypothesis for ANOVA is that th

Question 14

For a one-tailed test, the critical value:

Accepted Answer

A)  divides the sampling distribution into three parts. 
B)  is the number of standard errors away from the sample mean. 
C)  helps determine if the test statistic falls in the rejection region or not. 
D)  fails to reject the null hypothesis if the test statistic exceeds the critical value. 
A)  divides the sampling distribution into three parts. 
B)  is the number of standard errors away from the sample mean. 
C)  helps determine if the test statistic falls in the rejection region or not. 
D)  fails to reject the null hypothesis if the test statistic exceeds the critical value.

Question 15

How do test statistics for two-sample tests vary depending on whether the population standard deviations are known, and if not, whether they are assumed to be equal?

Accepted Answer

Selection of the proper test statistic f

Question 16

Which of the following is the initial step in conducting a hypothesis test?

Accepted Answer

A)  collecting data and calculating a test statistic 
B)  selecting a level of significance 
C)  identifying the population parameter of interest 
D)  determining a decision rule 
A)  collecting data and calculating a test statistic 
B)  selecting a level of significance 
C)  identifying the population parameter of interest 
D)  determining a decision rule

Question 17

Which of the following Excel tools is used for a two-sample test for equality of variances?

Accepted Answer

A)  Excel F-test Two-sample for variances 
B)  Excel z-test: Two-sample for means 
C)  Excel t-test: Two-sample assuming unequal variances 
D)  Excel t-test: Two-sample assuming equal variances 
A)  Excel F-test Two-sample for variances 
B)  Excel z-test: Two-sample for means 
C)  Excel t-test: Two-sample assuming unequal variances 
D)  Excel t-test: Two-sample assuming equal variances

Question 18

The first step in a chi-square test is to compute the observed frequency between each cell of the cross-tabulation if the two variables are independent.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is true about the rejection region?

Accepted Answer

A)  The rejection region is chosen to determine the probability of a Type I error. 
B)  With a true null hypothesis, the test statistic falls into the rejection region. 
C)  If the test statistic is in the nonrejection region, the null hypothesis is rejected. 
D)  The rejection region occurs in the tails of the sampling distribution of the test statistic. 
A)  The rejection region is chosen to determine the probability of a Type I error. 
B)  With a true null hypothesis, the test statistic falls into the rejection region. 
C)  If the test statistic is in the nonrejection region, the null hypothesis is rejected. 
D)  The rejection region occurs in the tails of the sampling distribution of the test statistic.

Question 20

For a lower-tail test, the p-value in the output from an Excel tool:

Accepted Answer

A)  is correct if the test-statistic is negative. 
B)  is the difference from 1.0 if the test-statistic is negative. 
C)  is correct if the test-statistic is zero. 
D)  is correct if the test-statistic is positive. 
A)  is correct if the test-statistic is negative. 
B)  is the difference from 1.0 if the test-statistic is negative. 
C)  is correct if the test-statistic is zero. 
D)  is correct if the test-statistic is positive.

In conducting a hypothesis test, what is usually to be proven statistically is identified as the null hypothesis.

Explain the assumptions underlying ANOVA along with their violations.

Which of the following is a valid one-sample hypothesis test?

For a two-sample test for means with the population variance being known, the Excel procedure used is the Excel z-test.

If the alternative hypothesis includes the symbol <, the rejection region is in the upper tail.

Which of the following is true about chi-square distribution?

Which of the following propositions describes an existing theory or belief?

Which of the following denotes the power of the test?

What is the confidence coefficient when the level of significance is 0.03?

Level of significance is the probability of:

For a one-tailed test, the critical value:

How do test statistics for two-sample tests vary depending on whether the population standard deviations are known, and if not, whether they are assumed to be equal?

Which of the following is the initial step in conducting a hypothesis test?

Which of the following Excel tools is used for a two-sample test for equality of variances?

The first step in a chi-square test is to compute the observed frequency between each cell of the cross-tabulation if the two variables are independent.

Which of the following is true about the rejection region?

For a lower-tail test, the p-value in the output from an Excel tool:

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Exam 7: Statistical Inference

In conducting a hypothesis test, what is usually to be proven statistically is identified as the null hypothesis.

Explain the assumptions underlying ANOVA along with their violations.

Which of the following is a valid one-sample hypothesis test?

For a two-sample test for means with the population variance being known, the Excel procedure used is the Excel z-test.

If the alternative hypothesis includes the symbol <, the rejection region is in the upper tail.

Which of the following is true about chi-square distribution?

Which of the following propositions describes an existing theory or belief?

Which of the following denotes the power of the test?

What is the confidence coefficient when the level of significance is 0.03?

Level of significance is the probability of:

For a one-tailed test, the critical value:

How do test statistics for two-sample tests vary depending on whether the population standard deviations are known, and if not, whether they are assumed to be equal?

Which of the following is the initial step in conducting a hypothesis test?

Which of the following Excel tools is used for a two-sample test for equality of variances?

The first step in a chi-square test is to compute the observed frequency between each cell of the cross-tabulation if the two variables are independent.

Which of the following is true about the rejection region?

For a lower-tail test, the p-value in the output from an Excel tool:

Introduction to Labour Market Economics

Database Analytics

Data Visualization

Descriptive Statistics

Probability Distributions and Data Modeling

Sampling and Estimation

Trendlines and Regression Analysis

Forecasting Techniques

Introduction to Data Mining

Spreadsheet Modeling and Analysis

Simulation and Risk Analysis

Linear Optimization

Integer and Nonlinear Optimization Models

Optimization Analytics

Decision Analysis

Filters