OPRE 3360 EXAMINATION STUDY SHEET 2026 QUESTIONS WITH ANSWERS GRADED A+

OPRE 3360 EXAMINATION STUDY SHEET
2026 QUESTIONS WITH ANSWERS
GRADED A+



◉The probability of making a type 1 error when the null hypothesis
is true as equality is called. Answer: the level of significance (alpha)


◉The critical value method. Answer: use the level of significance
(alpha) to determine the critical value and the rejection rule


◉The p-value method. Answer: Probability of getting a test statistic
even more in favor of alternative (Ha)
= that measure the lack of support provided by the sample for the
null hypothesis


◉Regression - managerial decision often are. Answer: based on the
relationship between two or more variables


◉Regression analysis. Answer: can be used to develop an equation
showing how the variables are related

, ◉Regression - The variable being predicted is called. Answer: the
dependent variable
y


◉Regression - The variables being used to predict the value of the
dependent variable are called. Answer: the independent variables
x


◉Simple Linear Regression. Answer: involves one independent
variable and one dependent variable


◉Simple Linear Regression- the relationship between the two
variables. Answer: approximated by a straight line


◉Simple Linear Regression - Bo and B1. Answer: Bo and B1 called
parameters of the model
Bo = y-intercept
B1 = the slope
when the line is constant = No relationship(x is not affect y)


◉Simple Linear Regression - E*. Answer: a random variable called
the error term