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BUS 302L STATS Exam | Questions and Answers Latest {} A+ Graded | 100% Verified
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BUS 302L STATS Exam | Questions and Answers Latest {} A+ Graded | 100% Verified
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BUS 302L STATS Exam | Questions and Answers Latest {2024- 2025} A+ Graded | 100%Verified
When computing the variance of a sample, the sum of the squared deviations, E is divided by - n-1
"Not equal to" rejection regions consists - 2 regions; left/right tail
If the correlation coefficient = 1 - standard ERROR ESTIMATE "Sz" = 0
The expected value of a random variable is - a long run weighted average
If there is 2+ random samples, the standard error mean is - smaller than the population standard
deviation
If you have product output data, TC production, you can estimate FC/VC by using - Linear regression
Choose of a probability for your typer II error - not part of hypothesis step
The binomial distribution takes _____ values - integer
Increasing sample size "n" causes - decrease in sigma mean
Statistic - summarize SAMPLE data
*random variables
Parameter - summarize POPULATION data
Reasons to calculate the mean data set - find measure of location
, Normal distribution doesn't have a mean of - 0
P value is > a you - reject the null
Do NOT use mean if - the number of observations is small or with extreme values
Mean - Half of the observations in a data set are greater
Median - middle value
*extreme values OK
Mode - most frequent value
Measures of Central Location - mean, median, mode
if probability distribution SYMMETRIC - m = m = m
*bell shaped, normal distribution
if distribution positively skewed to RIGHT - m > m > m
if distribution negatively skewed to LEFT - m < m < m
Measures of Variability - How much spread of data
How much uncertainty
- Range
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