DSCI Quiz 1 Verified And Accurate Exam Questions For Guaranteed Pass.
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Course
DSCI
Institution
DSCI
What is the first and last step of the modeling process? - correct answer 1. Define the problem, what is the objective?
2. Implement and evaluate the results. What are the recommendations?
List 2 out of the three models in chapter 1 - correct answer ...
DSCI Quiz 1
What is the first and last step of the modeling process? - correct answer 1. Define
the problem, what is the objective?
2. Implement and evaluate the results. What are the recommendations?
List 2 out of the three models in chapter 1 - correct answer 1.Iconic
2.Analog
3.Mathematical
What are the most frequently used models - correct answer Linear programing
List three methods from chapter two that assign improbabilities to experimental outcomes - correct
answer 1. Classical-gambeling
2.Realitive frequency
3.Subjective
What is the purpose of Bay's theorem - correct answer To update prior probabilities
to posterior probabilities
Method used to compare posterior probabilities
Develop conditional probabilities from marginal ones
What are the two major classifications of distribution of a random variable in ch 3? - correct answer
Discrete, continuous
What is the difference between grouped and ungrouped data - correct answer
Grouped data has probabilities
List two measures of dispersion - correct answer Variance, Range
, List the 4 measures of data - correct answer Centrality
Dispersion
Skewness
Peakness
List a couple characteristics of Binomial Prob. distribution - correct answer 1. The
experiment consists of n identical trials
2, the trials are independent
3 two outcomes are possible on each trial, a success and a failure
What are two assumptions of the Poisson probability distribution? - correct answer
1. the probability of an occurrence of the event is the same for any two intervals of equal length
2. the occurrence or nonoccurence of the event in any interval is independent of the occurrence or
nonoccurence in any other interval
What is the relationship between Poisson and exponential distributions - correct answer
They are reciprocal
List three out of 5 decisions under uncertainty/risk - correct answer 1 Maximin
2Minimax
3 criterion of realism
`What is the decision making under uncertainty that combines the maximax and maximin - correct
answer Heurwitz alpha
What is the most popular approach to making a decision under uncertainty - correct answer
Minimax regret
What is the significance of EVwoPI - correct answer The best a company can do on
its own
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