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ISYE 6644 FINAL PREP EXAM (ACTUAL EXAM) WITH QUESTIONS WITH VERY ELABORATED ANSWERS CORRECTRY WELL ORGANIZED LATEST 2024 – 2025 ALREADY GRADED A+ $12.99
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ISYE 6644 FINAL PREP EXAM (ACTUAL
EXAM) WITH QUESTIONS WITH VERY
ELABORATED ANSWERS CORRECTRY WELL
ORGANIZED LATEST 2024 – 2025 ALREADY
GRADED A+
What's a good distribution for modeling the number of random customer arrivals
to a store? - ANSWERS-The Poisson distribution is used for counting the number
of arrivals over some interval of time.
TRUE or FALSE? If the expected value of your estimator equals the parameter that
you're trying to estimate, then your estimator is unbiased. - ANSWERS-TRUE. (This
is the definition of unbiasedness in words.)
TRUE or FALSE? If X 1 , X 2 , . . . , X n are i.i.d. with mean μ, then the sample mean
X ¯ is unbiased for μ. - ANSWERS-TRUE
,For which scenarios(s) below might it be appropriate to use a Bernoulli selection
procedure?
a) Find the inventory policy having the largest profit.
b) Find the drug giving the best chance of a cure.
c) Find the maintenance policy having the lowest failure probability.
d) Find the scheduling rule that that has the best chance of making an on-time
delivery. - ANSWERS-All three of (b), (c), and (d).
Suppose that a Bernoulli selection procedure tells you to take 100 observations
from each of two populations, A and B. It turns out that A gets 85 successes and B
gets 46 successes. What do you think? - ANSWERS-1) A almost certainly has a
higher success probability than B.
2) We could've probably stopped sampling a bit earlier (i.e., with fewer than 100
observations) because A was so far ahead of B.
For which scenarios(s) below might it be appropriate to use a multinomial
selection procedure? - ANSWERS-Find the most-popular political candidate.
Suppose that we want to know which of Coke, Pepsi and Dr.pepper is the most
popular. We would like to make the correct selection with probability of at least
P*=0.90 in the event that the ration of the highest-to-second-highest preference
probabilities happens to be at least 0*=1.4. How many people does the single-
stage procedure Mbem require us to interview? - ANSWERS-126
Go to the table in the notes and pick off the entry for k=3, P^⋆=0.90, and θ^⋆=1.4.
, Which of the following parameters can you get confidence intervals for?
Means
Variances
Quantiles
Differences between the means of two systems - ANSWERS-All of the above
If we have an iid normal sample of observations, X1, X2,...Xn, what probability
distribution is most-commonly used to obtain cofidence intervals for the mean? -
ANSWERS-t
TRUE or FALSE? The paired CI for the differences in two means is designed to
work especially well if all of the observations from the first population are
completely independent of all of the observations from the second population. -
ANSWERS-FALSE. {In fact, it's easier to distinguish between the two means if Xi is
positively correlated with Yi. Think about my parallel parking example in the class
notes.}
TRUE or FALSE? You can use a version of independent replications to obtain
confidence intervals for the difference in the means from two simulation models.
- ANSWERS-TRUE
TRUE or FALSE? The common random numbers technique intentionally induces
positive correlation between two systems - much like a paired-𝑡confidence
interval. - ANSWERS-TRUE
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