Qmb 3200 test 1 questions - Study guides, Class notes & Summaries
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QMB 3200 TEST #1 QUESTIONS AND ANSWERS 2024
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Discrete Data 
Values are whole numbers (integers) 
-Usually counted, not measured 
 
 
 
Continuous Data 
Can potentially take on any value, depending only on the ability to measure accurately 
-Often measured, fractional values are possible 
 
 
 
Discrete Random Variables 
have outcomes that typically take on whole numbers as a result of conducting an experiment 
 
 
 
Continuous Random Variables 
have outcomes that take on any numerical value as a result of conducting an experiment 
or 
-out...
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Qmb 3200 Test 2 Concepts Ucf Exam Questions And Answers 100% Verified
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Qmb 3200 Test 2 Concepts Ucf Exam 
Questions And Answers 100% Verified 
As the test statistic becomes larger, the p-value: - answerbecomes smaller. 
The probability of making a Type I error when the null hypothesis is true as an equality is called 
the: - answerlevel of significance. 
In hypothesis testing, the tentative assumption about the population parameter is called: - 
answerthe null hypothesis. 
The p-value: - answermust be a number between 0 and 1. 
For a two-tailed test, the p-value is...
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QMB 3200 Midterm 1 2024 Test with Questions and Answers|100% Solution
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QMB 3200 Midterm 1 2024 Test with 
Questions and Answers|100% Solution
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QMB 3200 Final Exam Questions And Answers 100% Verified
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QMB 3200 Final Exam Questions And 
Answers 100% Verified 
Suppose we have the following data: 12, 17, 13, 25, 16, 21, 30, 14, 16, and 18. To find the 10% 
trimmed mean, what numbers should be deleted from the calculation? - answer12 and 30 
Which of the following is not resistant to the outliers in a data set? 
a. Median 
b. Mean 
c. Variance 
d. Interquartile range - answerb. mean 
The pth percentile is a value such that at least p percent of the observations are: - 
answerless than or equal to...
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QMB 3200 Midterm 1 2024 Test with Questions and Answers|100% Solution
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Descriptive Analytics - Describes Past Data 
Predictive Analytics - Uses past data to predict Future (inference) 
Prescriptive Analytics - Uses models to find Optimal Solution 
Scales of Measurement - Nominal & Ordinal (Categorical); 
Interval & Ratio (Quantitative) 
Nominal Data - Data which consists of names, labels, or categories. 
Ordinal Data - Arbitrary scale where the exact numerical value has no significance other than to 
rank a set of data points
And that's how you make extra money
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QMB 3200 Test 1 Questions And Answers With Verified Solutions
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What is the z score formula? - CORRECT ANSWER-(the observation - mean) / standard deviation 
 
What does a z score tell us? - CORRECT ANSWER-how many standard deviations a value of from the mean 
 
How do you find the range? - CORRECT ANSWER-biggest value minus smallest value 
 
What is the formula used in excel to find the range? - CORRECT ANSWER-=max(array) - min (array) 
 
If a data set has an odd number of observations, the median 
 
a. Cannot be determined 
b. is the value of the middle ite...
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QMB 3200 Test 1Exam 2024 Questions With Correct Solutions!!
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What is the z score formula? - ANSWERS(the observation - mean) / standard deviation 
 
What does a z score tell us? - ANSWERShow many standard deviations a value of from the mean 
 
How do you find the range? - ANSWERSbiggest value minus smallest value 
 
What is the formula used in excel to find the range? - ANSWERS=max(array) - min (array) 
 
If a data set has an odd number of observations, the median 
 
a. Cannot be determined 
b. is the value of the middle item when all items are arranged in...
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UCF QMB 3200 Final Exam Verified Questions with Correct Answers Graded A+
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UCF QMB 3200 Final Exam Verified Questions with Correct Answers Graded A+ 
Doubling the size of the sample will 
reduce the standard error of the mean 
The sample mean is the point estimator of 
U 
A simple random sample of size n from an infinite population of size N is to be selected. Each possible sample should have 
the same probability of being selected 
Which of the following statements regarding the sampling distribution of sample means is incorrect? 
The standard deviation of the samplin...
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UCF QMB 3200 Final Exam Verified Questions with Correct Answers Graded A+
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UCF QMB 3200 Final Exam Verified Questions with Correct Answers Graded A+ 
A variable that cannot be measured in numerical terms is called a _____. 
a. dependent variable 
b. constant variable 
c. qualitative variable 
d. non-measurable random variable 
c. qualitative variable 
The difference between the observed value of the dependent variable and the value predicted by using the estimated regression equation is the _____. 
a. standard error 
b. residual 
c. predicted interval 
d. variance 
b. ...
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QMB 3200 Final Exam Questions And Answers 100% Verified
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QMB 3200 Final Exam Questions And 
Answers 100% Verified 
Suppose we have the following data: 12, 17, 13, 25, 16, 21, 30, 14, 16, and 18. To find the 10% 
trimmed mean, what numbers should be deleted from the calculation? - answer12 and 30 
Which of the following is not resistant to the outliers in a data set? 
a. Median 
b. Mean 
c. Variance 
d. Interquartile range - answerb. mean 
The pth percentile is a value such that at least p percent of the observations are: - 
answerless than or equal to...
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