100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
MSIS 3223 Exam 2 (Ch. 5, 8, 9)Questions & Answers 100% Correct!! $12.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. MSIS 3223
  4.  
  5. MSIS 3223

Exam (elaborations)

MSIS 3223 Exam 2 (Ch. 5, 8, 9)Questions & Answers 100% Correct!!
 0 purchase
  • Course
  • MSIS 3223
  • Institution
  • MSIS 3223

it measures the uncertainty of a random variable. - ANSWERWhich of the following is true about variance? characterizes outcomes of a continuous random variable. - ANSWERA probability density function: time-series - ANSWERRegression models of ________ data focus on predicting the future. us...

[Show more]

Preview 2 out of 6  pages

Document information

  • November 1, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • msis 3223 exam 2 ch 5 8 9questions answers
  • msis 3223 exam 2 stuvia 2024
  • it measures the uncertainty of a random variable
  • characterizes outcomes of a continuous random var

Written for

  • MSIS 3223
  • MSIS 3223

Seller

avatar-seller
papersbyjol

Reviews received

Content preview

MSIS 3223 Exam 2 (Ch. 5, 8,
9)Questions & Answers 100% Correct!!

it measures the uncertainty of a random variable. - ANSWERWhich of the following is true about
variance?



characterizes outcomes of a continuous random variable. - ANSWERA probability density function:



time-series - ANSWERRegression models of ________ data focus on predicting the future.



uses a panel of experts, whose identities are typically kept confidential from one another, to respond
to a sequence of questionnaires. - ANSWERThe Delphi method used for forecasting:



noted the consumer response to similar previous products to marketing campaigns and used the
responses as a basis to predict how the new marketing campaign might fare. - ANSWERBefore
launching a new line of toys, Toys Inc. used the method of historical analogy to obtain a forecast. In
this scenario, Toys Inc.:



classical - ANSWERIf the process that generates the outcome is known, probabilities can be deduced
from theoretical arguments; this is the _____ definition of probability.



relative frequency - ANSWERThe _____ definition of probability is based on empirical data. The
probability that an outcome will occur is simply the relative frequency associated with that outcome.



subjective - ANSWERThe _____ definition of probability is based on judgment and experience as
sports experts might predict at the start of the football season—what is the probability of a specific
team winning the national championship?



Random variable - ANSWERA _____ is a numerical description of the outcome of an

experiment. They can be continuous or discrete.



discrete random variable - ANSWERA _____ is a random variable for which the number of possible
outcomes can be counted.

, Binomial Distribution - ANSWERThe _____ models n independent replications of a Bernoulli
experiment, each with a probability p of success. The _____ can assume different shapes and
amounts of skewness, depending on the parameters.



normal distribution - ANSWERPerhaps the most important distribution used in statistics, _____ is a
continuous distribution by the familiar bell shaped curve.



continuous random variable - ANSWERA _____ is a random variable that has outcomes over one or
more continuous intervals or real numbers.



expected value - ANSWERThe _____ of a random variable corresponds to the notion of the mean, or
average for a sample. It can be helpful in making a variety of decisions.



weighted average of the squared deviations - ANSWERThe variance of a discrete random variable
may be computed as a _____ from the expected value. A common measure of dispersion.



variance - ANSWER_____ is the average of the squared deviations of the observations from the
mean, a common measure of dispersion. It measures the uncertainty of the random variable; the
higher it is, the higher the uncertainty of the outcome.



Bernoulli Distribution - ANSWERThe probability distribution of a random variable with two possible
outcomes, each with a constant probability of occurrence is referred to as _____.



mean and the standard deviation - ANSWERNormal distribution is characterized by two parameters:
the _____ and the _____.



Zero - ANSWERNormal distribution is symmetric, so its measure of skewness is _____.



mean, median, mode - ANSWERIn normal distribution, the _____, _____, & _____ are all equal.
Thus, half the area falls above the mean and half falls below it.



unbounded - ANSWERIn normal distribution, the range of X is _____, meaning that the tails of the
distribution extend to negative & positive infinity.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller papersbyjol. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

69252 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$12.99
  • (0)
Add to cart
Added