Exam 12: Business Statistics and Regression Analysis

The ________ distribution is used most often to predict demand for a product or service.

________ typically describe what has already happened and probability describes what is likely to happen in the future.

If the cumulative argument of the NORM.DIST function is set to TRUE,the result will be the probability of a value being less than or equal to the value of the x argument,known as the ________ distribution function.

The correlation coefficient is represented by the letter "c" in statistics and is a unitless value that describes the strength and direction of a relationship between two variables.

A range is the simplest method to calculate the dispersion of a data set and can provide a rough idea of how the data set is dispersed.

In a data set consisting of gender,salary,and name of employees,the employees are the observational unit and the variables are the gender,salary,and names.

The more ________ the sample,the more accurate the statistical analysis will be.

________ characterizes the peakedness or flatness of a distribution compared to the normal distribution.

Descriptive statistics is the process of taking data from a sample of the population and making predictions about the entire population.

________ data can be used to create charts that show whether the value is trending upward or downward.

________ is the average of the variables in the sample.

Regression analysis is a method used to predict future values by analyzing the relationships between two or more variables.

Moving averages can be useful in spotting trends over a period of time by smoothing out any fluctuations that may occur during each consecutive interval.

Nominal data are useful in situations where it is difficult to obtain accurate measurements.

In administering a survey where respondents answer "Yes" or "No" to a specific question,ordinal variables could be used to categorize the responses,such as 1 = Yes and 2 = No.

The ________ is the value at which a regression line will cross the y-axis and is used in the slope intercept formula to predict values.

The ________ distribution is a discrete probability distribution that is used to model the number of successful trials based on the total number of trials and the rate of success.

Depending on the options that were selected upon the installation of Excel,you may have to manually install the ________ add-in.