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WPC 300 Final Exam Questions with Verified Answers
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WPC 300 Final Exam Questions with Verified Answers
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WPC 300 Final Exam Questions withVerified Answers
The null hypothesis is actually true, but the hypothesis test incorrectly rejects it. -
ANSWER-Which of the following is a Type-I error?
Confidence interval decreases - ANSWER-When sample size increases
Null hypothesis - ANSWER-Which of the following proposition describes an existing
theory or belief?
.930 - ANSWER-What is the confidence level when the level of significance is 0.07?
3.00
sigma/sqrt=12/sqrt(16)=12/4=3 - ANSWER-The WPC Sports Company has noted
that the size of individual "customer order" is normally distributed with a mean of
$100 and standard deviation of $12. If a soccer team of 16 players were to make the
next batch of orders, what would be the standard error of the mean?
Anonymously data collection by hiding ASU brand in the survey question. -
ANSWER-You are collecting data via an online survey to improve education
standard at ASU. Which of the following methods will not result in data collection
bias?
The t-distribution has a larger variance than the standard normal distribution -
ANSWER-Which of the following is a difference between the t-distribution and the
standard normal (z) distribution?
The time to complete a specific task - ANSWER-Which of the following is a
continuous random variable?
alpha - ANSWER-In order to reject the null hypothesis, the p-value must be less than
the
independent variable - ANSWER-A market analyst is developing a regression model
to predict monthly household expenditures on groceries as a function of family size,
household income, and household neighborhood (urban, suburban, and rural). The
"neighborhood" variable in this model is ________.
A unit point change in reading label will increase IQ by 5.6 point. - ANSWER-Which
of the following statement is true based on the following regression equation?IQ =
4.0 + Reading Label * 5.6
There will be a multi-collinearity effect. - ANSWER-Which of the following
assumptions is not true for multiple linear regression?
, $6900 - ANSWER-A manager wishes to predict the annual cost (y) of an automobile
based on the number of miles (x) driven. The following model was developed: y =
$1500 + 0.36x. If a car is driven 15000 miles in a year, the model predicts the annual
cost of the car to be:
81% of the variation in the money spent on repairs is explained by the age of the
vehicle - ANSWER-The correlation coefficient between the age of a vehicle and the
money spent to repair it is 0.9. Which of the following statement is true?
Residual variance - ANSWER-The unexplained variance in the regression analysis is
also known as:
A correlation coefficient between "college entrance exam" grades and scholastic
achievement was found to be -1.08. On the basis of this, you would tell the university
that: - ANSWER-They should hire a new statistician.
There is no linear relationship between profit and sales. - ANSWER-What would be
the null hypothesis for testing a linear regression model with profit as the dependent
variable and sales as the independent variable?
It is measured using a measure called variance inflation factor (VIF). - ANSWER-
Which of the following is true about multi-collinearity?
0 and 1 - ANSWER-The value of R-Squared always falls between ________ and
________, inclusive.
Logit - ANSWER-In logistic regression analysis, instead of Y as a dependent
variable, we use a function of Y called ________.
Log (p/1-p) - ANSWER-In logistic regression, the dependent variable y is defined as:
Multiple logistic regression - ANSWER-If you want to find out if body weight, calorie
intake, fat intake and age have an influence on the probability of having a heart
attack (yes or no), which of the following kind of analysis will help determine the
answer?
p/1-p - ANSWER-Odds ratio is defined as ________, where p is the probability of
success.
Confusion matrix - ANSWER-The ________ is often used to describe the
performance of a classification model applied to a set of test data for which the true
outcomes are known.
Training and validation/testing - ANSWER-In classification analysis, we typically split
the data into two mutually exclusive sets, known as ________, to investigate the
strength of the developed model.
a binary categorical - ANSWER-Logistic regression is a specialized type of
regression analysis that is designed to predict ________ variables.
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