Exam (elaborations)
ECO366 Midterm exam |Questions Solved 100% Correct | Verified Solutions 2024/25 Update
- Course
- Institution
ECO366 Midterm exam |Questions Solved 100% Correct | Verified Solutions 2024/25 Update
[Show more]
Content preview
ECO366 Midterm exam |Questions Solved 100% Correct| Verified Solutions 2024/25 Update
If the mean of a normal distribution is negative, - ✔✔none of the answers are correct. the mean can
be negative.
The set of measurements collected for a particular element is (are) called - ✔✔observations
In a data set, the number of observations will always be the same as the number of - ✔✔elements
Which of the following is not an example of descriptive statistics? - ✔✔an estimate of the number of
Alaska residents who have visited Canada
Flight time from Cincinnati to Atlanta is an example of a _______ variable and _______ measurement. -
✔✔continuous, ratio
Data collected at the same, or approximately the same, point in time are - ✔✔cross-sectional
Forty percent of all registered voters in a national election are female. A random sample of 5 voters is
selected.
What is the random variable in this experiment? - ✔✔the number of female voters out of 5
Probability of success on binomial distribution - ✔✔denoted as P
A binomial probability distribution with p = .3 is - ✔✔negatively skewed
A random variable that can assume only a finite number of values is referred to as a(n) - ✔✔discrete
random variable
, Excel's BINOMDIST function has how many inputs? - ✔✔4
E (expected value) or mean for probability distribution, variance for probability distribution - ✔✔μ =
Σxp, Var(X) = Σx2p − μ2, standard dev= square root of variance
coefficient of variation - ✔✔the ratio of the standard deviation to the mean x100 to equal a
percentage
Pareto diagram - ✔✔when bars are arranged in descending order of height (most freq. @left).
histogram characteristics to identify - ✔✔shape, center, distribution (spread)
scatter plot characteristics to identify - ✔✔form, direction, strength
left skew/right skew and mean - ✔✔left skew: mean is usually less than median. right skew: mean is
usually higher than median
Calculating inner fence and outer fence - ✔✔Inner: 1.5(IQR) above Q3 and below Q1. Outer: same
but with multiplier of 3.
random variable - ✔✔numerical description of the outcome of an experiment
discrete random variable - ✔✔may assume a finite number or infinite number of values
continuous random variabl - ✔✔may assume any numerical value in an interval or collection of
intervals
properties of a binomial experiment - ✔✔consists of n identical trials, 2 outcomes (success and
failure) on each trial, probability of success is denoted by p and doesn't change trial to trial, and trials
are independent
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 Examsplug. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
64438 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now