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QNT/275 STATISTICS FOR DECISION MAKING The Latest Version A+ Study Guide ******************************************* Entire Course Link https://uopcourses.com/category/qnt-275/ *******************************************

______________ is the science of using a sample to make generalizations about the important aspects of a population. Time series analysis Descriptive statistics Random sample Statistical inference

The two types of quantitative variables are ordinal and ratio. interval and ordinal. nominative and ordinal. interval and ratio. nominative and interval.

A ____________ variable can have values that are numbers on the real number line. qualitative quantitative categorical nominative

Jersey numbers of soccer players is an example of a(n) ___________ variable. nominative ordinal interval ratio

Which of the following is a quantitative variable? the manufacturer of a cell phone a person's gender mileage of a car whether a person is a college graduate whether a person has a charge account

Which of the following is a type of question used in survey research? dichotomous free response rating All of the other answers are correct.

___________ sampling is where we know the chance that each element will be included in the sample, which allows us to make statistical inferences about the sample population. Convenience Voluntary Probability Judgment

Which of the following is not a supervised learning technique in predictive analytics? linear regression factor analysis decision trees neural networks

A Yes or No question is _____________. dichotomous evaluative open-ended systematic

Temperature (in degrees Fahrenheit) is an example of a(n) __________ variable. nominative ordinal interval ratio

Examining all population measurements is called a_____________. census frame sample variable

__________ consists of a set of concepts and techniques that are used to describe populations and samples. Traditional statistics Random sampling Data mining Time series analysis

A ____________ is a set of assumptions about how sample data are selected and about the population from which the sample data are selected. random sampling statistical model descriptive statistics probability sampling

_________ is a necessary component of a runs plot.

Observation over time Qualitative variable Random sampling of the data Cross-sectional data

Non-overlapping groups in random sampling of a population are called clusters. frames. strata. stages.

Which of the following is a categorical variable? air temperature bank account balance daily sales in a store whether a person has a traffic violation value of company stock

_________ uses traditional or newer graphics to present visual summaries of business information. Predictive analytics Data mining Association learning Descriptive analytics

An identification of police officers by rank would represent a(n) ____________ level of measurement. nominative ordinal interval ratio

A set of all elements we wish to study is called a ____________. sample process census population

A data set provides information about some group of individual _____________. variables elements statistics measurements

A sequence of operations that takes inputs and turns them into outputs is a ____________. process statistical inference runs plot random sampling

A _____ is a list of all the units in a population. sample frame census variable

College entrance exam scores, such as SAT scores, are an example of a(n) _____________ variable. ordinal ratio nominative interval

Which of the following is not a method of predictive analytics? factor detection outlier detection bullet graphs association learning

___________ refers to describing the important aspects of a set of measurements. Cross-sectional analysis Runs plot Descriptive statistics Time series analysis

Any characteristic of an element is called a ____________. set process variable D)census

A(n) ____________ variable can have values that indicate into which of several categories of a population it belongs. qualitative quantitative ratio interval

1. Award: 1 out of 1.00 point

If a population distribution is skewed to the right, then, given a random sample from that population, one would expect that the ____________.

median would be greater than the mean

mode would be equal to the mean

median would be less than the mean

median would be equal to the mean

2. Award: 1 out of 1.00 point

In a hearing test, subjects estimate the loudness (in decibels) of a sound, and the results are (mean = 70): 68, 67, 70, 71, 68, 75, 68, 62, 80, 73, 68. What is the standard deviation? 18 4.73 22.40 324 6.76

3. Award: 0 out of 1.00 point

According to a survey of the top 10 employers in a major city in the Midwest, a worker spends an average of 413 minutes a day on the job. Suppose the standard deviation is 26.8 minutes and the time spent is approximately a normal distribution. What are the times within which approximately 99.73 percent of all workers will fall? [305.8, 520.2] [386.2, 439.8] [372.8, 453.2] [359.4, 466.6] [332.6, 493.4]

Using the following data, what would be the leaf unit in a stem-and-leaf display?

Picture 1.0 10 .10 .01 .20

A local electronics retailer recently conducted a study on purchasers of large screen televisions. The study recorded the type of television and the credit account balance of the customer at the time of purchase. They obtained the following results.

Picture

What percentage of purchases were plasma televisions by customers with the smallest credit balances? 50.00 39.20 56.30 34.80 19.60

______________ and _____________ are used to describe qualitative (categorical) data. Stem-and-leaf displays, scatter plots Scatter plots, histograms Box plots, bar charts Bar charts, pie charts Pie charts, histograms

Suppose that a company's annual sales were $1,200,000 in 1999. The annual growth rate of sales from 1999 to 2000 was 16 percent, from 2000 to 2001 it was â&#x2C6;&#x2019;5 percent, and from 2001 to 2002 it was 22 percent.

The geometric mean growth rate of sales over this three-year period is calculated as 10.37 percent. Use the geometric mean growth rate and determine the forecasted sales for 2004. 1,780,678 1,200,014 1,965,337 1,613,371

1,422,197

8. Award: 1 out of 1.00 point

Which of the following graphical tools is not used to study the shapes of distributions?

stem-and-leaf display

scatter plot

histogram

dot plot

9. Award: 1 out of 1.00 point

A flaw possessed by a population or sample unit is ___________.

always random

a defect

displayed by a dot plot

the cause for extreme skewness to the right

10. Award: 1 out of 1.00 point

Which of the following is not a graphical tool for descriptive analytics (dashboards)?

bullet graph

sparkline

scatter plot

treemap

gauge

The Rivertown city council is attempting to choose one of four sites (A, B, C, or D) as the location for its new emergency facility. After the new emergency facility becomes available for service, the current emergency facility will

be shut down. The project manager has estimated the following response times in minutes from each of the proposed sites to the four areas that must be served by the emergency facility.

Picture

The number of emergency runs from the current emergency facility to each of the four areas over the past year is as follows:

Picture

Compute the weighted mean response time from the proposed locations and determine which proposed site should be selected for the new emergency facility.

rev: 05_12_2017_QC_CS-89378 site A site B site C site D

The average life of Canadian women is 73.75 years, and the standard deviation of the life expectancy of Canadian women is 6.5 years. Based on Chebyshev's Theorem, determine the upper and lower bounds on the average life expectancy of Canadian women such that at least 90 percent of the population is included. [12.09 135.41] [8.75 138.75] [53.20 94.30] [66.38 81.13] [67.25 80.25]

______________ and _____________ are used to describe qualitative (categorical) data.

Stem-and-leaf displays, scatter plots Scatter plots, histograms Box plots, bar charts Bar charts, pie charts Pie charts, histograms

A CFO is looking at what percentage of a company's resources are spent on computing. He samples companies in the pharmaceutical industry and develops the following stem-and-leaf graph.

Picture

What would be the class length used in creating a frequency histogram? 1.4 8.3 1.2 1.7 0.9

All of the following are measures of central tendency except the ____________. range mode mean median

A CFO is looking at what percentage of a company's resources are spent on computing. He samples companies in the pharmaceutical industry and develops the following stem-and-leaf graph.

Picture

What is the smallest percentage spent on R&D?

5.9

5.6 5.2 5.02 50.2

Recently an advertising company called 200 people and asked them to identify the company that was in an ad running nationwide. The following results were obtained.

Picture

What percentage of those surveyed could not correctly recall the company? 58.00 56.89 55.00 43.10 42.00

A relative frequency curve having a long tail to the right is said to be ___________.

skewed to the left

normal

a scatter plot

skewed to the right

According to Chebyshev'sTheorem, a range of how many standard deviations would include at least 80 percentof the values? 5.0 2.2 2.5 1.6 2.0

A histogram that tails out toward larger values is ___________.

skewed to the left

normal

a scatter plot

skewed to the right

When grouping a large sample of measurements into classes, the ______________ is a better tool than the ___________.

histogram, stem-and-leaf display

box plot, histogram

stem-and-leaf display, scatter plot

scatter plot, box plot \

The following table shows the Price-to-Earnings ratio for a stereo equipment manufacturing company between 1998 and 2002.

Determine the percentage change in the P/E ratios from 1999 to 2000. 23.97% 31.53% 27.26% â&#x2C6;&#x2019;31.53% â&#x2C6;&#x2019;23.97%

The local amusement park was interested in the average wait time at their most popular roller coaster at the peak park time (2 p.m.). They selected 13 patrons and had them get in line between 2 and 3 p.m. Each was given a stopwatch to record the time they spent in line. The times recorded were as follows (in minutes): 118, 124, 108, 116, 99, 120, 148, 118, 119, 121, 45, 130, 118. What is the mode? 114.15 118 148 45 115.5

1. Award: 1 out of 1.00 point

The life of a light bulb is exponentially distributed with a mean of 1,000 hours. What is the probability that the bulb will last less than 800 hours? .6321 .5507 .7135 .4493

If the mileage per gallon for a car is normally distributed, 32 mpg has a z score of 1.2, and 24 mpg has a z score of â&#x2C6;&#x2019;.4, what is the mean mpg of the distribution? 28 26 30 38

3. Award: 1 out of 1.00 point

An important part of the customer service responsibilities of a cable company is the speed with which trouble in service can be repaired. Historically, the data show that the likelihood is 0.75 that troubles in a residential service can be repaired on the same day. For the first five troubles reported on a given day, what is the probability that all five will be repaired on the same day? .0010 .6328 .9990 .2373

4. Award: 1 out of 1.00 point

Container 1 has 8 items, 3 of which are defective. Container 2 has 5 items, 2 of which are defective. If one item is drawn from each container, what is the probability that only one of the items is defective? 0.2250 0.3000 0.0250 0.4000 0.1500

5. Award: 1 out of 1.00 point

The probability of event A occurring given that event B has already occurred is 0.61. The probability of both events occurring is 0.5. What is the probability of event B occurring? 0.305 0.195 0.390 0.820 0.500

6. Award: 1 out of 1.00 point

For a binomial process, the probability of success is 40 percent and the number of trials is 5. Find P(X â&#x2030;¤ 1).

rev: 01_31_2019_QC_CS-156253 .0870 .2592 .0778 .3370

For a binomial process, the probability of success is 40 percent and the number of trials is 5. Find the variance. 5.0 1.2 2.0 1.1

7. Award: 0 out of 1.00 point

A family has two children. What is the probability that both are girls, given that at least one is a girl? 1/8 1/4 1/2 1/3 1/6

8. Award: 1 out of 1.00 point

A letter is drawn from the alphabet of 26 letters. What is the probability that the letter drawn is a vowel? 5/26 1/26 4/26 21/26

9. Award: 1 out of 1.00 point

If n = 15 and p = .4, then the standard deviation of the binomial distribution is 9. 6. 3.6. 1.897. .4.

10. Award: 1 out of 1.00 point

While conducting experiments, a marine biologist selects water depths from a uniformly distributed collection that vary between 2.00 m and 7.00 m. What is the probability that a randomly selected depth is between 2.25 m and 5.00 m? .79 .45 .55 .50

Employees of a local university have been classified according to gender and job type.

If an employee is selected at random, what is the probability that the employee is a member of the hourly staff, given that the employee is female? 0.400 0.133 0.160 0.053 0.533

The probability that an appliance is currently being repaired is .5. If an apartment complex has 100 such appliances, what is the probability that at least 60 are currently being repaired? Use the normal approximation to the binomial. .5000 .0287 .6000 .9713

A(n) ______________ is a collection of sample space outcomes. experiment event set probability

An apple juice producer buys all his apples from a conglomerate of apple growers in one northwestern state. The amount of juice obtained from each of these apples is approximately normally distributed with a mean of 2.25 ounces and a standard deviation of 0.15 ounce. What is the probability that a randomly selected apple will contain more than 2.50 ounces? .9525 .4525 .0475 .5474

Consider a Poisson distribution with an average of 3 customers per minute at the local grocery store. If X = the number of arrivals per minute, find the probability of more than 7 customers arriving within a minute. .0216 .0081 .0108 .0118

Consider a Poisson distribution with an average of 3 customers per minute at the local grocery store. If X = the number of arrivals per minute, find the expected value of X. 3 9 1.5 1.7

Consider the experiment of tossing a fair coin three times and observing the number of heads that result (X = number of heads). What is the standard deviation for this distribution? 1.5 1.22 0.75 0.87

Consider a standard deck of 52 playing cards, a randomly selected card from the deck, and the following events: R = red, B = black, A = ace, N = nine, D = diamond, and C = club. Are D and C mutually exclusive?

Yes, mutually exclusive. No, not mutually exclusive.

Suppose that the waiting time for a license plate renewal at a local office of a state motor vehicle department has been found to be normally distributed with a mean of 30 minutes and a standard deviation of 8 minutes. Suppose that in an effort to provide better service to the public, the director of the local office is permitted to provide discounts to those individuals whose waiting time exceeds a predetermined time. The director decides that 15 percent of the customers should receive this discount. What number of minutes do they need to wait to receive the discount? 34.48 21.68 38.32 25.52

A multiple-choice test has 30 questions and each one has five possible answers, of which only one is correct. If all answers were guesses, find the probability of getting exactly four correct answers. .0604 .1325 .2552 .8000

If the random variable x is normally distributed, ______ percent of all possible observed values of x will be within three standard deviations of the mean. 68.26 95.44 99.73 100

None of the other choices is correct.

A continuous probability distribution that is useful in describing the time or space between successive occurrences of an event is a(n) uniform probability distribution. normal probability distribution. Poisson probability distribution. exponential probability distribution.

A probability may be interpreted as a long-run _____________ frequency. observational relative experimental conditional

A survey is made in a neighborhood of 80 voters. 65 are Democrats and 15 are Republicans. Of the Democrats, 35 are women, while 5 of the Republicans are women. If one subject from the group is randomly selected, find the probability the individual is a male Republican. .125 .500 .333 .667 .188

The life of a light bulb is exponentially distributed with a mean of 1,000 hours. What is the probability that the bulb will last less than 800 hours? ❏

.6321

❏

.5507

❏

.7135

❏

.4493

Given that the length an athlete throws a hammer is a normal random variable with mean 50 feet and standard deviation 5 feet, what is the probability he throws it between 50 feet and 60 feet? ❏

.9972

❏

.5000

❏

.9544

❏

.4772

QNT/275 STATISTICS FOR DECISION MAKING The Latest Version A+ Study Guide ******************************************* Entire Course Link https://uopcourses.com/category/qnt-275/

*******************************************

1. Award: 1 out of 1.00 point

The number of defectives in 10 different samples of 100 observations each is the following: 1, 2, 1, 0, 2, 3, 1, 4, 2, 1. What is the estimate of the population proportion of defectives? .017 .17 .016 .16

2. Award: 1 out of 1.00 point

A manufacturing company measures the weight of boxes before shipping them to the customers. If the box weights have a population mean and standard deviation of 90 lb and 24 lb, respectively, then based on a sample size of 36 boxes, what is the probability that the average weight of the boxes will exceed 94 lb? 34.13% 84.13%

15.87% 56.36% 16.87%

3. Award: 1 out of 1.00 point

When testing a hypothesis about a single mean, if the sample size is 51 and the population standard deviation is known, the correct test statistic to use is ___________. r z t p-value

4. Award: 1 out of 1.00 point

The spread of the sampling distribution of Ë&#x2030;x is ____________ the spread of the corresponding population distribution sampling distribution.

larger than smaller than the same as exactly Â˝

5. Award: 1 out of 1.00 point

The width of a confidence interval will be narrower for 99 percent confidence than for 95 percent confidence. wider for a sample size of 100 than for a sample size of 50. narrower for 90 percent confidence than for 95 percent confidence. wider when the sample standard deviation (s) is small than when s is large.

6. Award: 1 out of 1.00 point

Using either the critical value rule or the p-value rule, if a one-sided null hypothesis for a single mean cannot be rejected at a given significance level, then the corresponding two-sided null hypothesis (i.e., the same sample size, the same standard deviation, and the same mean) will ______________ be rejected at the same significance level.

always sometimes never

7. Award: 1 out of 1.00 point

If the sampled population has a mean of 48 and standard deviation of 16, then the mean and the standard deviation for the sampling distribution of xË&#x2030;

for n = 16 are 4 and 1. 12 and 4. 48 and 4. 48 and 1. 48 and 16.

8. Award: 1 out of 1.00 point

A research study investigated differences between male and female students. Based on the study results, we can assume the population mean and standard deviation for the GPA of male students are µ = 3.5 and σ = 0.5. Suppose a random sample of 100 male students is selected and the GPA for each student is calculated. What is the probability that the random sample of 100 male students has a mean GPA greater than 3.42? .0548 .4364 .9452 .5636

9. Award: 1 out of 1.00 point

In the upcoming election for governor, the most recent poll, based on 900 respondents, predicts that the incumbent will be reelected with 55 percent of the votes. What is xˉσ

? .00825 .0166 .0247 .0003

10. Award: 1 out of 1.00 point

A research study investigated differences between male and female students. Based on the study results, we can assume the population mean and standard deviation for the GPA of male students are µ = 3.5 and σ = 0.5. Suppose a random sample of 100 male students is selected and the GPA for each student is calculated. Find the interval that contains 95.44 percent of the sample means for male students. [3.45, 3.55] [2.50, 4.50] [3.35, 3.65] [3.40, 3.60]

A random sample of size 36 is taken from a population with mean 50 and standard deviation 5. Find P( xˉ < 51.5). .9641 .0359 .1389 .9999

For a fixed sample size, the lower we set α, the higher is the ___________. Type I error

Type II error random error p-value

If the sampled population is finite and at least _____ times larger than the sample size, we treat the population as infinite. 5 20 30 10

A null hypothesis is not rejected at a given level of significance. As the assumed value of the mean gets further away from the true population mean, the Type II error will _____________. increase decrease stay the same randomly fluctuate

Unoccupied seats on flights cause airlines to lose revenue. Suppose a large airline wants to estimate its average number of unoccupied seats per flight over the past year. 225 flight records are randomly selected and the number of unoccupied seats is noted, with a sample mean of

11.6 seats and a standard deviation of 4.1 seats. How many flights should we select if we wish to estimate Îź to within 5 seats and be 95 percent confident? 44 3 2 110 6

The t distribution approaches the _______________ distribution as the sample size ___________. binomial, increases binomial, decreases z, decreases z, increases

Using the critical value rule, if a two-sided null hypothesis is rejected for a single mean at a given significance level, the corresponding one-sided null hypothesis (i.e., the same sample size, the same standard deviation, and the same mean) will ______________ be rejected at the same significance level. always sometimes never

The spread of the sampling distribution of xˉ is ____________ the spread of the corresponding population distribution sampling distribution. larger than smaller than the same as exactly ½

For the following hypothesis test, where H0: μ ≤ 10; vs. HA: μ> 10, we reject H0 at level of significance α and conclude that the true mean is greater than 10, when the true mean is really 8. Based on this information, we can state that we have made a Type I error. made a Type II error. made a correct decision. increased the power of the test.

At the end of 1990, 1991, and 1992, the average prices of a share of stock in a portfolio were $34.83, $34.65, and $31.26 respectively. To investigate the average share price at the end of 1993, a random sample of 30 stocks was drawn and their closing prices on the last trading day of 1993 were observed with a mean of 33.583 and a standard deviation of 19.149. Estimate the average price of a share of stock in the portfolio at the end of 1993 with a 90 percent confidence interval. [27.646, 39.523] [26.732, 40.434]

[32.514, 34.651] [32.533, 34.633] [32.269, 34.897]

When establishing the confidence interval for the average weight of a cereal box, assume that the population standard deviation is known to be 2 ounces. Based on a sample, the average weight of a sample of 20 boxes is 16 ounces. The appropriate test statistic to use is ________. t z Ď&#x2021; p

A sample of 100 items has a population standard deviation of 5.1 and a mean of 21.6. Construct a 95 percent confidence interval for Îź. [11.60, 31.60] [21.16, 22.04] [20.60, 22.60] [20.76, 22.43]

Recently, a case of food poisoning was traced to a particular restaurant chain. The source was identified and corrective actions were taken to make sure that the food poisoning would not reoccur. Despite the response from the restaurant chain, many consumers refused to visit the restaurant for some time after the event. A survey was conducted three months after the food poisoning occurred, with a sample of 319 former customers contacted. Of the 319 contacted, 29 indicated that they would not go back to the restaurant because of the potential for food

poisoning. Construct a 95 percent confidence interval for the true proportion of the market who still refuse to visit any of the restaurants in the chain three months after the event. [.059, .122] [.090, .091] [.000, .196] [.240, .339] [.118, .244]

Assuming that the null hypothesis is true, the ______________ is the probability of observing a value of the test statistic that is at least as extreme as the value actually computed from the sample data. α β p-value Type I error

As the Type II error, β,of a statistical test increases, the power of the test _____________. ❏

increases

❏

decreases

❏

stays the same

❏

randomly fluctuates

The coffee and soup machine at the local subway station is supposed to fill cups with 6 ounces of soup. Ten cups of soup are bought with results of a mean of 5.93 ounces and a standard deviation of 0.13 ounces. How large a sample of soups would we need to be 95 percent confident that the sample mean is within 0.03 ounces of the population mean? ❏

❏

A researcher for a paint company is measuring the level of a certain chemical contained in a particular type of paint. If the paint contains too much of this chemical, the quality of the paint will be compromised. On average, each can of paint contains 10 percent of the chemical. How many cans of paint should the sample contain if the researcher wants to be 98 percent certain of being within 1 percent of the true proportion of this chemical? ❏

4870

❏

1107

❏

645

QNT/275 STATISTICS FOR DECISION MAKING The Latest Version A+ Study Guide

******************************************* Entire Course Link https://uopcourses.com/category/qnt-275/ *******************************************

Which of the following is a violation of the independence assumption? negative autocorrelation a pattern of cyclical error terms over time positive autocorrelation a pattern of alternating error terms over time All of the other choices are correct.

A real estate company is analyzing the selling prices of residential homes in a given community. 140 homes that have been sold in the past month are randomly selected and their selling prices are recorded. The statistician working on the project has stated that in order to perform various statistical tests, the data must be distributed according to a normal distribution. In order to determine whether the selling prices of homes included in the random sample are normally distributed, the statistician divides the data into 6 classes of equal size and records the number of observations in each class. She then performs a chi-square goodness-of-fit test for normal distribution. The results are summarized in the following table.

At a significance level of .05, what is the appropriate rejection point condition? Reject H0 if χ2> 12.5916 Reject H0 if χ2> 11.0705 Reject H0 if χ2> 9.3484 Reject H0 if χ2> 7.81473 Reject H0 if χ2> 9.48773

What is the appropriate null hypothesis? H0: The residential home selling prices are distributed according to a normal distribution. H0: The residential home selling prices are not distributed according to a normal distribution. H0: The distribution of residential home selling prices is either right or left skewed. H0: The distribution of the residential home selling prices is symmetric. None of the other answers is correct.

of observations in each class. She then performs a chi-square goodness-of-fit test for normal distribution. The results are summarized in the following table.

At a significance level of .05, we reject H0; conclude that the residential home selling prices are not distributed according to a normal distribution. do not reject H0; conclude that the residential home selling prices are not distributed according to a normal distribution. reject H0; conclude that the residential home selling prices are distributed according to a normal distribution. do not reject H0; conclude that the residential home selling prices are distributed according to a normal distribution.

When the assumption of __________ residuals (error terms) is violated, the Durbin-Watson statistic is used to test to determine if there is significant _____________ among the residuals. normality, probability independent, probability independent, autocorrelation normality, autocorrelation

In a simple regression analysis for a given data set, if the null hypothesis Î˛ = 0 is rejected, then the null hypothesis Ď = 0 is also rejected. This statement is ___________ true. always never

sometimes

In performing a chi-square test of independence, as the differences between respective observed and expected frequencies _________, the probability of concluding that the row variable is independent of the column variable increases. stay the same decrease increase double

For a given data set, value of X, and confidence level, if all the other factors are constant, the confidence interval for the mean value of Y will ___________ be wider than the corresponding prediction interval for the individual value of Y. always sometimes never

When we carry out a chi-square test of independence, the alternate hypothesis states that the two relevant classifications are mutually exclusive. form a contingency table with r rows and c columns. have (râ&#x2C6;&#x2019; 1)(câ&#x2C6;&#x2019; 1) degrees of freedom. are statistically dependent. are normally distributed.

lass. She then performs a chi-square goodness-of-fit test for normal distribution. _____ degrees of freedom. 5 4 3 6

If the Durbin-Watson statistic is greater than (4 â&#x2C6;&#x2019;dL), then we conclude that there is significant positive autocorrelation. there is significant negative autocorrelation. there is significant autocorrelation, but we cannot identify whether it is positive or negative. the test result is inconclusive.

When a forecaster uses the ______________ method, she or he assumes that the time series components are changing slowly over time. time series regression exponential smoothing index number multiplicative decomposition

In a simple linear regression model, the slope term is the change in the mean value of y associated with _____________ in x. a corresponding increase a variable change no change a one-unit increase

When deseasonalizing a time series observation, we divide the actual time series observation by its ___________. irregular factor cyclical factor seasonal factor weighted aggregate factor

If the errors produced by a forecasting method for 3 observations are +3, +3, and −3, then what is the mean squared error? 9 0 3 −3 2

The demand for a product for the last six years has been 15, 15, 17, 18, 20, and 19. The manager wants to predict the demand for this time series using the following simple linear trend equation: trt = 12 + 2t. What are the forecast errors for the 5th and 6th years? 0, −3 0, +3 +2, +5 −2, −5 −1, −4

The chi-square goodness-of-fit test will be valid if the average of the expected cell frequencies is ______________. greater than 0 less than 5 between 0 and 5 at least 1 at least 5

When using simple exponential smoothing, the value of the smoothing constant Îą cannot be negative. greater than zero. greater than 1. .99. negative or greater than 1.

While a binomial distribution describes count data that can be classified into one of two mutually exclusive categories, a __________________ distribution describes count data that are classified into more than two mutually exclusive categories. normal skewed uniform multinomial

In a simple linear regression analysis, the correlation coefficient (a) and the slope (b) ___________ have the same sign. always sometimes never

The correlation coefficient may assume any value between 0 and 1. −∞ and ∞. 0 and 8. −1 and 1. −1 and 0.

XYZ Company, Annual Data

Based on the information given in the table above, what is the MAD? 1.3333 1.6667 2.5 3.3333 4.5

All of the following are forecasting methods except

Holt-Winters double exponential smoothing. simple exponential smoothing. time series regression. MAD autocorrelation.

In performing a chi-square goodness-of-fit test for a normal distribution, a researcher wants to make sure that all of the expected cell frequencies are at least five. The sample is divided into 7 intervals. The second through the sixth intervals all have expected cell frequencies of at least five. The first and the last intervals have expected cell frequencies of 1.5 each. After adjusting the number of intervals, the degrees of freedom for the chi-square statistic is ____. 2 3 5 7