Statistics and Data Analysis: Models, Probability, and
Regression UPDATED ACTUAL Questions and CORRECT
Answers
Spreadsheet model purpose Analyze relationships between variables
Parts of a model Inputs, processing, outputs
Stochastic model Includes randomness
Decision model Used to compare choices
Profit depends on Price and cost
Array formula Calculates multiple values at once
Goal Seek Finds input for desired output
Two-way table Shows effect of two variables
Classical probability Favorable ÷ total
Empirical probability Based on observed data
Independent events Do not affect each other
Dependent events Affect each other
Permutation Order matters
Combination Order does not matter
Statistical inference Conclusion about population
Systematic sampling Every kth item
Stratified sampling Groups population
Sampling error Occurs naturally
Point estimate Single value
Confidence interval Range of values
Regression UPDATED ACTUAL Questions and CORRECT
Answers
Spreadsheet model purpose Analyze relationships between variables
Parts of a model Inputs, processing, outputs
Stochastic model Includes randomness
Decision model Used to compare choices
Profit depends on Price and cost
Array formula Calculates multiple values at once
Goal Seek Finds input for desired output
Two-way table Shows effect of two variables
Classical probability Favorable ÷ total
Empirical probability Based on observed data
Independent events Do not affect each other
Dependent events Affect each other
Permutation Order matters
Combination Order does not matter
Statistical inference Conclusion about population
Systematic sampling Every kth item
Stratified sampling Groups population
Sampling error Occurs naturally
Point estimate Single value
Confidence interval Range of values
