Peregrine Business Stats Pre-test Questions with Correct Answers Assume EVPI= $50, 000 and EMV*= $35,000. If perfect information exists , the value of EPPI is - Correct Answers 85000 In one-way analysis of variance, within-treatments variation is measured by: - Correct Answers SSE When every possible sample with the same number of observations is equally likely to be chosen, the result is called a - Correct Answers Simple random sample If when using the confidence interval estimator of a proportion the researcher finds that there is no chance of finding a success in the population, adding the number 4 to the sample size could be part of the solution, which refers to ______ - Correct Answers The Wilson estimate which of the following is true about one-way analysis of variance - Correct Answers Which of the following statements is not true? - Correct Answers A payoff table lists the monetary values for each possible combination of the - Correct Answers event (state of nature) and act (alternative) Fisher's least significant difference (LSD) multiple comparison method is flawed because - Correct
Answers it will increase a: the probability of committing a Type I error
If a If all possible samples of size n are drawn from an infinite population with a mean of u and a standard deviation of & , then the standard error of the sample mean is inversely proportional to: - Correct Answers square root of n A production manager is concerned with the average weight of metal ingots. From past data, he knows that population standard deviation is 1.6 lbs.The manager wishes to make a 95% interval estimate using a sample of 64 ingots. What will be the maximum sampling error (E) in estimating the population mean with this sample - Correct Answers .392 1 / 2
As a general rule, the normal distribution is used to approximate the sampling distribution of the sample proportion only if - Correct Answers np and n(1-p) are both greater than or equal to 5 The hypothesis of most interest to the researcher is - Correct Answers The alternative hypothesis The is appropriate to identify the probability of intersections - Correct Answers multiplication rule 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? - Correct Answers 4.76% The average speed of cars passing a checkpoint is 60 miles per hour with a standard deviation of 8 miles per hour. Fifty (50) passing cars are clocked at random from this checkpoint. The probability that he sample mean will be between 57 and 62 miles per hour is: - Correct Answers 0.9576 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 u - Correct Answers becomes narrower Concerning test statistics, Sum of Squares for Error measures the - Correct Answers variation between the mean squares Suppose the population of blue whales is 8,000. Researches are able to garnish a sample of oceanic movements from 100 blue whales from within this population. Thus, - Correct Answers researchers can ignore the finite population correction factor Which of the following statements is false regarding the expected monetary value (EMV)? - Correct Answers To calculate the EMV, the probabilities of the states of nature must be already decided upon are utilized to make inferences about certain population parameters. - Correct Answers Statistics 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 lifetimes is found to be 5 years, The 200 smartphones represent a - Correct Answers sample
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