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Test Bank for BMAL 590 Quantitative Research Techniques and Statistics A+ Updated

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BMAL 590 Quantitative Research Techniques and Stat

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BMAL 590 Quantitative Research Techniques And Stat

Test Bank for BMAL 590 Quantitative Research Techniques and Statistics A+ Updated 1. Which one of the following would not be considered a state of nature for a business firm? 2. Assume an investment is made a significant number of times using the same probabilities and payoffs. In this case, the ...

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BMAL 590 Quantitative Research Techniques and Statistics

BMAL 590 Quantitative Research Techniques and Statistics Test

Decision Analysis (Section 8)
1. Which one of the following would not be considered a state of nature for a business
firm? Minimumwage regulations

2. Assume an investment is made a significant number of times using the same
probabilities and payoffs.In this case, the average payoff per investment represents .
The expected payoff

3. The level of doubt regarding the decision situation where both the possible states of
nature and theirexact probabilities of occurrence are known as which of the following?
Risk

4. The difference between expected payoff under certainty and expected value of the
best act withoutcertainty is the . Expected value of Perfect Information

5. Which of the following regarding EMV/EOL if false? The EMV decision is always
different from theEOL decision

Analysis of Variance (Section 7)
6. The F-statistic is a one-way ANOVA represents the .
Variation between the treatments divided by the variation within the treatments
7. In we can observe the effect on the response variable of at least two factors.
One-way analysis of variance
8. The distribution of the test statistics for analysis of variance is the .
F-Distribution

What is Statistics? (section 1)
9. A sample of 500 athletes is taken from a population of 11,000 Olympic athletes to

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, BMAL 590 Quantitative Research Techniques and Statistics

measure work ethic.As a result we . Can make consistent inferences each time
work ethic is the outcome

10. When data is collected in a statistical study for only a portion or subset of all
elements of interest weare using a. Sample

Data Collecting and Sampling (section 2)
11. When a person receives an email questionnaire and places it in their
deleted items withoutresponding, they are contributing to . Non-
response error

12. The difference between a sample mean and the population mean is called the .
Sampling errorIntroduction to hypothesis Testing (Section 5)
13. A type I error occurs when we . Reject a true null hypothesis

14. In a criminal trial where the null hypothesis states that the defendant is innocent,
a Type II error ismade when . A guilty defendant is found not guilty

15. The p-value of the test is the . The largest a at which a null hypothesis cannot
be rejected

Probability (Section 3)
16. Initial estimates of the probabilities of events are known as .
Prior Probabilities
17. If the outcome of event A is not affected by event B, then events A and B are said to be .
Independent
18. The collection of all possible outcomes of an experiment is called .
A sample space
19. Suppose P(A) = .35. The probability of the complement of A is .
.65
Inference about a Population (Section 6)

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, BMAL 590 Quantitative Research Techniques and Statistics

20. An unbiased estimator is .
A sample Statistic, which has an expected value equal to the value of the population
parameter

QUIZ Section 1-
A company has developed a new smartphone whose average lifetime is unknown. In
order to estimatethis average, 200 smartphones are randomly selected from a large
production line and tested. Their average lifetime is found to be 5 years. 200
smartphones represents a .
Sample

Which of the following is a measure of reliability of a statistical inference? Significance
level

The process of using sample statistics to draw conclusions about population parameters is
called .
Doing inferential statistics

Which of the following statements involve descriptive statistics as opposed to
inferential statistics? The alcohol, Tobacco and Firearms Department reported
that Houston had 1,790 registered gundealers in 1997.

A population of all college applicants exists who have taken the SAT exam in the US
in the last year. Aparameter of the population are . SAT Scores

QUIZ Section 2
-Which of the following statements is true regarding the design of a good survey?
The questions should be kept as short as possible
-Which method of data collection is involved when a researcher counts and records

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, BMAL 590 Quantitative Research Techniques and Statistics

the number ofstudents wearing backpacks on campus in a given day? Direct
Observation

-Manager at electronics store wants to know if customers who purchased video recorder
over the last 12months are satisfied with their products. If there are 4 different brands of
video recorders made by the company, which sampling strategy would be best to use?
Stratified random sample

-Which of the following types of samples are almost always biased? Self-selected sampled

- is an expected error based only on the observations limited to a sample taken from a
population.
Sampling error

QUIZ Section 3
Bayes’ Law is used to compute . Posterior Probabilities

The classical approach describes a probability . In terms of the proportion
of times that anevent can be theoretically expected to occur

If a set of events includes all possible outcomes of an experiment these events
are considered tobe . Exhaustive
Which statement is not correct? If event A does not occur, then its compliment Ai will
also not occurQUIZ Section 4-
The concept that allows us to draw conclusions about the population based
strictly on sample datawithout having any knowledge about the distribution of the
underlying population is .
The central limit theorem
Each of the following are characteristics of the sampling distribution of the mean except .
If the original population is not normally distributed, the sampling distribution
of the mean willalso be approximately normal for large sample sizes

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