Exam (elaborations)
Bus 300 Midterm Questions and Answers Latest Update
- Course
- BUS 300
- Institution
- University Of Massachusetts, Amherst
Bus 300 Midterm Questions and Answers Latest Update
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Solution 2024/2025Pepper
Bus 300 Midterm Questions and Answers
Latest Update
Sampling Distribution ANS✔✔ A frequency of all possible values of a sample
statistic is known as
Central Limit Theorem ANS✔✔ Plays an important role in statistics because
it provides information about the shape of the sampling distribution when
the same size is sufficiently large
Range or Mean ANS✔✔ Measure of dispersion that is most influenced by
(or sensitive to) extreme values is
Mean<Median ANS✔✔ What is true for a left skewed distribution?
Median ANS✔✔ Is the value in the data set such that half the observations
have values above it and half below it
Population/ Parameter; Sample/Statistic ANS✔✔ The purpose of inferential
statistics it to make conclusions about the____ based on the_____
Not equal to 45 minutes when, in reality, the average time is equal to 45
minutes ANS✔✔ A production manager would like to test a hypothesis that
the time needed to complete one cycle of the production process is equal to
45 minutes. A type 1 error would occur if the manager concludes that the
average time is
, Solution 2024/2025
Pepper
H null is true ANS✔✔ When conducting a hypothesis test, we start with the
belief that
Maximum acceptable probability of making a type 1 error ANS✔✔ The
significance level of the hypothesis test is
FTR H null and Ha is true ANS✔✔ A type 11 error occurs in hypothesis
testing when we
Correct decision made ANS✔✔ In hypothesis testing, if H null is rejected
when Ha is true
The stander error of the men decreases ANS✔✔ As the size of the sample
increases
1. Describe the sample or population
2. Make inferences/conclusions about the population based on information
in the sample ANS✔✔ Purpose of Statistics
1. Location
2. Dispersion
3. Empirical Rule ANS✔✔ Measures of Location
Mean, Median, Mode, Percentile ANS✔✔ Location
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