- Study guides, Class notes & Summaries

"What is the difference between a parameter and a statistic? - CORRECT ANSWER=> -describes the true characteristic of a population, and a statistic represents a characteristic of a SAMPLE" "What is variance equal to? - CORRECT ANSWER=> Variance = standard deviation squared" "Standard deviation conditions - CORRECT ANSWER=> it cannot be negative, if std is zero that means all the values are the same, and the larger the standard deviation=the larger the spread" ...

"Null hypothesis - CORRECT ANSWER=> the hypothesis that there is no significant difference between populations, or that the difference is in a direction opposite from that anticipated by the researcher." "Research hypothesis - CORRECT ANSWER=> alternate hypothesis, is a statement that postulates that there is a difference between poplulations or sometimes a difference in certain direction, positive or negative." "Type I error - CORRECT ANSWER=> Rejecting null hypoth...

"Matched pairs - Correct answer Grouping two similar subjects and giving different treatments/procedures to each in order to compare the differences. For example, having one twin take a medication while the other twin does not." "Unbalanced response - Correct answer Giving more options that are negative than positive options (or vice versa) which biases the responses towards the more common option" "Measures of center - Correct answer Median, the mean (and mode)" "M...

Solutions and Test Bank For Basic Statistics for Business & Economics, 7th Canadian Edition by Douglas Lind 2024 updated

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