Question 1

In statistical terminology, the variable of interest is called a ________.

Accepted Answer

A) critical value 
B) p-value 
C) factor 
D) test-statistic 
A) critical value 
B) p-value 
C) factor 
D) test-statistic

Question 2

While testing for equality of variances, which of the following formulae gives the F-test statistic?

Accepted Answer

A) 
$\sigma \frac{2}{1}-\sigma \frac{2}{2}$ 
B) 
$\frac{\bar{x}-\mu_{0}}{\sigma / \sqrt{n}}$ 
C) 
$\frac{\bar{x}-\mu_{0}}{\mathrm{~s} / \sqrt{n}}$ 
D) 
  
A) 
$\sigma \frac{2}{1}-\sigma \frac{2}{2}$ 
B) 
$\frac{\bar{x}-\mu_{0}}{\sigma / \sqrt{n}}$ 
C) 
$\frac{\bar{x}-\mu_{0}}{\mathrm{~s} / \sqrt{n}}$ 
D)

Question 3

Why is testing for independence important for businesses?

Accepted Answer

A common problem in business is to deter

Question 4

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 5

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 6

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 7

Which of the following is true about determining the proper form of the hypotheses?

Accepted Answer

A) H₀ is statistically proved true while testing 
B) failure to reject H₀ proves H₁ wrong 
C) H₀ is always assumed to be true in testing 
D) H₁ is always assumed to be true in testing 
A) H₀ is statistically proved true while testing 
B) failure to reject H₀ proves H₁ wrong 
C) H₀ is always assumed to be true in testing 
D) H₁ is always assumed to be true in testing

Question 8

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 9

Use the data given below to answer the following question(s).
In a lower one-tailed hypothesis test, chosen level of significance = 0.10, true mean = 30, sample size = 55, and t-test statistic = -1.76.
-Which of the following is the conclusion?

Accepted Answer

A) This is a high probability and the conclusion is difficult. 
B) The null hypothesis is rejected. 
C) There are many sampling errors. 
D) The null hypothesis cannot be rejected. 
A) This is a high probability and the conclusion is difficult. 
B) The null hypothesis is rejected. 
C) There are many sampling errors. 
D) The null hypothesis cannot be rejected.

Question 10

A manufacturer wishes to determine if the average profit from the sale of his product exceeds $6,710.Which of the following is the appropriate hypothesis test?

Accepted Answer

A) H₀: population mean profit from sale > $6,710 vs.H₁: population mean profit from sale ≤ $6,710 B) H₀: population mean profit from sale ≤ $6,710 vs.H₁: population mean profit from sale > $6,710 C) H₀: population mean profit from sale < $6,710 vs.H₁: population mean profit from sale ≥ $6,710 D) H₀: population mean profit from sale ≥ $6,710 vs.H₁: population mean profit from sale < $6,710 A) H₀: population mean profit from sale > $6,710 vs.H₁: population mean profit from sale ≤ $6,710 B) H₀: population mean profit from sale ≤ $6,710 vs.H₁: population mean profit from sale > $6,710 C) H₀: population mean profit from sale < $6,710 vs.H₁: population mean profit from sale ≥ $6,710 D) H₀: population mean profit from sale ≥ $6,710 vs.H₁: population mean profit from sale < $6,710

In statistical terminology, the variable of interest is called a ________.

While testing for equality of variances, which of the following formulae gives the F-test statistic?

Why is testing for independence important for businesses?

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

Which of the following is true about the rejection region?

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

Which of the following is true about determining the proper form of the hypotheses?

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.

Use the data given below to answer the following question(s). In a lower one-tailed hypothesis test, chosen level of significance = 0.10, true mean = 30, sample size = 55, and t-test statistic = -1.76. -Which of the following is the conclusion?

A manufacturer wishes to determine if the average profit from the sale of his product exceeds $6,710.Which of the following is the appropriate hypothesis test?

Introduction to Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Sampling and Estimation

Predictive Modeling and Analysis

Regression Analysis

Forecasting Techniques

Simulation and Risk Analysis

Introduction to Data Mining

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Nonlinear and Non-Smooth Optimization

Optimization Models with Uncertainty

Decision Analysis

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Exam 7: Statistical Inference

In statistical terminology, the variable of interest is called a ________.

While testing for equality of variances, which of the following formulae gives the F-test statistic?

Why is testing for independence important for businesses?

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

Which of the following is true about the rejection region?

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

Which of the following is true about determining the proper form of the hypotheses?

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.

Use the data given below to answer the following question(s). In a lower one-tailed hypothesis test, chosen level of significance = 0.10, true mean = 30, sample size = 55, and t-test statistic = -1.76. -Which of the following is the conclusion?

A manufacturer wishes to determine if the average profit from the sale of his product exceeds $6,710.Which of the following is the appropriate hypothesis test?

Introduction to Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Sampling and Estimation

Predictive Modeling and Analysis

Regression Analysis

Forecasting Techniques

Simulation and Risk Analysis

Introduction to Data Mining

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Nonlinear and Non-Smooth Optimization

Optimization Models with Uncertainty

Decision Analysis

Filters