Peregrine's Quantitative Research Techniques
+ Statistics - Peregrine Exam Review Questions
with Correct Verified Answers
Suppose a population of blue whales is 8000. Researchers are able to garnish a sample of
oceanic movements from 100 blue whales within the population. Thus,
- researchers do not have a significant sample size
- researchers need a larger population of blue whales
- the finite population correction factor is necessary
- researchers can ignore the finite population correction factor - ✔✔researchers can ignore
the finite population correction factor
In a sample proportion, represented by p = x/n, what does X refer to? - ✔✔# of successes in
the sample
The branches in a decision tree are equivalent to - ✔✔events and acts
What is needed to compute posterior probabilities? - ✔✔The sum of all the P(sj and li)'s,
likelihood probabilities, p (li/sj)
doing inferential statistics. - ✔✔The process of using sample statistics to draw conclusions
about population parameters is called
The confidence level - ✔✔measures the proportion of times an estimation procedure will be
correct in the long run
Parameter - ✔✔a summary measure that is computed
, sample space - ✔✔the set of all possible outcomes of a probability experiment
prior probabilities - ✔✔initial estimates of the probabilities of events
the standard error of the sample mean - ✔✔standard deviation of the distribution of the
sample means , Standard deviation/sq rt (population size)
Business Statistics - ✔✔the collection, summarization, analysis, and reporting of numerical
findings relevant to a business decision or situation
descriptive statistics - ✔✔uses graphical or numerical techniques to summarize and present
data
mean - ✔✔average
measure of variability - ✔✔how closely scores bunch up around the central point; a statistic
that indicates the spread of distribution
range - ✔✔the difference between the highest and lowest scores in a distribution
Median - ✔✔the middle score in a distribution; half the scores are above it and half are
below it
Mode - ✔✔the most frequently occurring score(s) in a distribution
Variance - ✔✔the average of the squared deviations from the mean
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