BMAL 590 Quantitative Research Techniques and Statistics (BMAL590QUANTITATIVERESEARCHTECHNIQUESANDSTATISTI)
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BMAL 590 Quantitative Research Techniques and Statistics
BMAL 590 Quantitative Research Techniques and Statistics
Test
Decision Analysis (Section 8)
1. Which one of the following would not be considered a state of nature for a business firm?
2. Assume an investment is made a significant number ...
bmal 590 quantitative research techniques and statistics
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BMAL 590 Quantitative Research Techniques and Statistics (BMAL590QUANTITATIVERESEARCHTECHNIQUESANDSTATISTI)
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BMAL 590 Quantitative Research Techniques and Statistics
Test
Decision Analysis (Section 8)
1. Which one of the following would not be considered a state of nature for a business firm? Minimum
wage regulations
2. Assume an investment is made a significant number of times using the same probabilities and payoffs.
In this case, the average payoff per investment represents_____. The expected payoff
3. The level of doubt regarding the decision situation where both the possible states of nature and their
exact probabilities of occurrence are known as which of the following? Risk
4. The difference between expected payoff under certainty and expected value of the best act without
certainty is the _________. Expected value of Perfect Information
5. Which of the following regarding EMV/EOL if false? The EMV decision is always different from the
EOL decision
Analysis of Variance (Section 7)
6. The F-statistic is a one-way ANOVA represents the_______.
Variation between the treatments divided by the variation within the treatments
7. In _________ we can observe the effect on the response variable of at least two factors.
One-way analysis of variance
8. The distribution of the test statistics for analysis of variance is the ________.
F-Distribution
What is Statistics? (section 1)
9. A sample of 500 athletes is taken from a population of 11,000 Olympic athletes to measure work ethic.
As a result we ________. Can make consistent inferences each time work ethic is the outcome
10. When data is collected in a statistical study for only a portion or subset of all elements of interest we
are using a _______. Sample
Data Collecting and Sampling (section 2)
11. When a person receives an email questionnaire and places it in their deleted items without
responding, they are contributing to ________. Non-response error
12. The difference between a sample mean and the population mean is called the______. Sampling error
Introduction to hypothesis Testing (Section 5)
13. A type I error occurs when we _______. Reject a true null hypothesis
14. In a criminal trial where the null hypothesis states that the defendant is innocent, a Type II error is
made when________. A guilty defendant is found not guilty
,15. The p-value of the test is the______. The largest a at which a null hypothesis cannot be rejected
Probability (Section 3)
16. Initial estimates of the probabilities of events are known as_____.
Prior Probabilities
17. If the outcome of event A is not affected by event B, then events A and B are said to be ________.
Independent
18. The collection of all possible outcomes of an experiment is called ________.
A sample space
19. Suppose P(A) = .35. The probability of the complement of A is _______.
.65
Inference about a Population (Section 6)
20. An unbiased estimator is ________.
A sample Statistic, which has an expected value equal to the value of the population parameter
QUIZ Section 1-
A company has developed a new smartphone whose average lifetime is unknown. In order to estimate
this average, 200 smartphones are randomly selected from a large production line and tested. Their
average lifetime is found to be 5 years. 200 smartphones represents a ________. Sample
Which of the following is a measure of reliability of a statistical inference? Significance level
The process of using sample statistics to draw conclusions about population parameters is called_____.
Doing inferential statistics
Which of the following statements involve descriptive statistics as opposed to inferential statistics?
The alcohol, Tobacco and Firearms Department reported that Houston had 1,790 registered gun
dealers in 1997.
A population of all college applicants exists who have taken the SAT exam in the US in the last year. A
parameter of the population are______. SAT Scores
QUIZ Section 2
-Which of the following statements is true regarding the design of a good survey?
The questions should be kept as short as possible
-Which method of data collection is involved when a researcher counts and records the number of
students wearing backpacks on campus in a given day? Direct Observation
-Manager at electronics store wants to know if customers who purchased video recorder over the last 12
months are satisfied with their products. If there are 4 different brands of video recorders made by the
company, which sampling strategy would be best to use? Stratified random sample
-Which of the following types of samples are almost always biased? Self-selected sampled
-_____ is an expected error based only on the observations limited to a sample taken from a population.
Sampling error
,QUIZ Section 3
Bayes’ Law is used to compute ____. Posterior Probabilities
The classical approach describes a probability_________. In terms of the proportion of times that an
event can be theoretically expected to occur
If a set of events includes all possible outcomes of an experiment these events are considered to
be________. Exhaustive
Which statement is not correct? If event A does not occur, then its compliment Ai will also not occur
QUIZ Section 4-
The concept that allows us to draw conclusions about the population based strictly on sample data
without having any knowledge about the distribution of the underlying population is_________.
The central limit theorem
Each of the following are characteristics of the sampling distribution of the mean except________.
If the original population is not normally distributed, the sampling distribution of the mean will
also be approximately normal for large sample sizes
-Suppose you are given 3 numbers that relate to the number of people in a university sample. The three
numbers are 10,20,30. If the standard deviation is 10, the standard error equals___ . 5.77
You are tasked with finding the standard deviation. You are given 4 numbers. Numbers are 5, 10, 15, and
20. The standard deviation equals. 6.455
Two methods exist to create a sampling distribution. Once involves using parallel samples from a
population and the other is to use the______. Rules of probability
QUIZ Section 5
The hypothesis of most interest to the researcher is the______. Alternative Hypothesis
A Type I error occurs when________. Reject a true null hypothesis
Statisticians can translate p values into several descriptive terms. Suppose you typically reject H 0 at a
level of .05. Which of the following statements is incorrect? If the p value <.01, there is overwhelming
evidence to infer that the alternative hypothesis is false.
In a criminal trial where the null hypothesis states that the defendant is innocent a type I error is made
when________. An innocent person is found guilty
To take advantage of the information of a test result using the rejection region method and make a better
decision on the basis of the amount of statistical evidence we can analyze the _____. P Value
Quiz Section 6
An unbiased estimator is ________.
A sample Statistic, which has an expected value equal to the value of the population parameter
, Thirty-six months were randomly sampled and the discount rate on new issues of 91-day Treasury Bills
was collected. The sample mean is 4.76% and the standard deviation is 171.21. What is the unbiased
estimate for the mean of the population?
4.76%
a 98% confidence interval estimate for a population mean is determined to be 75.38 to 86.52. If the
confidence level is reduced to 90%, the confidence interval for the population mean ____
Becomes Narrower
Suppose the population of blue whales is 8,000. Researchers are able to garnish a sample of oceanic
movements from 100 blue whales from within this population. Thus_____
Researchers can ignore the finite population correction factor
In the sample proportion, represented by p=x/n the variable x refers to:
The number of succeses in the sample
QUIZ Section 7
Distribution of the test statistic for the analysis of variance is the______. F-distribution
In Fisher’s least significant difference (LSD) multiple comparison method, the LSD value will be the same
for all pairs of means if______. All Samples are the same
One-way ANOVA is applied to 3 independent samples having means 10, 13, and 18 respectively. If each
observation in the 3rd sample were increased by 30, the value of the F statistic would______. Increase
Assume a null hypothesis is found to be true. By dividing the sum of squares of all observations or SS
(Total) by (n-1) we can retrieve the______. Sample Variance
Which of the following is true about a one-way analysis of variance? N1=n2…=nk it not required
QUIZ section 8
A tabular presentation that shows the outcome for each decision alternative under the various states of
nature is called a ______. Payoff table
Which of the following statements is false regarding the expected monetary value (EMV)?
In general, the expected monetary values represent possible payoffs
In the context of an investment decision, _______ is the difference between what the profit for an act is and
the potential profit given an optimal decision. An opportunity Loss
The branches in a decision tree are equivalent to______. Events and Acts
Which of the following is not necessary to compute posterior probabilities? EMV
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