BAILEY BRIDGE EXAM TEST BANK
PRACTICE QUESTIONS SOLUTIONS
DETAILED EXPLANATIONS VERIFIED
●● Alternative Hypothesis
Answer: An alternative hypothesis is the hypothesis used in hypothesis
testing that is contrary to the null hypothesis. It is usually taken to be
that the observations are the result of a real effect (with some amount of
chance variation superposed)
●● Economic Indicator
Answer: A statistic used to gauge future trends in a nation's company
●● Statistical Data
Answer: Statistical data is the study of the collection, analysis,
interpretation, presentation, and organization of data. In applying
statistics to e.g. a scientific, industrial, or social problem, it is a
conventional to begin with a statistical model process to be studied .
●● Normalize
Answer: In the simplest cases, normalization of ratings means adjusting
values measured on different scales to a notionally common scale, often
prior to averaging
, ●● P-value
Answer: P-value is defined as the probability of obtaining a result equal
to or "more extreme" than what was actually observed, when the null
hypothesis is true
●● Alpha value (threshold for hypothesis validation)
Answer: Before you run any statistical test, you must first determine
your alpha level, which is also called the "significance level". By
definition, the alpha level is the probability of rejecting the null
hypothesis when the null hypothesis is true. Translation: its the
probability of making the wrong decision
●● Sample size
Answer: (n>30) sample size determination is the act of choosing the
number of observations or replicated to include in a statistical sample.
The sample size is an important feature of any empirical study in which
the goal is to make inferences about a population sample
●● Rate/Proportion
Answer: these terms are the terms used to document normalized data
●● Number/Count
Answer: These terms document non-normalized data
PRACTICE QUESTIONS SOLUTIONS
DETAILED EXPLANATIONS VERIFIED
●● Alternative Hypothesis
Answer: An alternative hypothesis is the hypothesis used in hypothesis
testing that is contrary to the null hypothesis. It is usually taken to be
that the observations are the result of a real effect (with some amount of
chance variation superposed)
●● Economic Indicator
Answer: A statistic used to gauge future trends in a nation's company
●● Statistical Data
Answer: Statistical data is the study of the collection, analysis,
interpretation, presentation, and organization of data. In applying
statistics to e.g. a scientific, industrial, or social problem, it is a
conventional to begin with a statistical model process to be studied .
●● Normalize
Answer: In the simplest cases, normalization of ratings means adjusting
values measured on different scales to a notionally common scale, often
prior to averaging
, ●● P-value
Answer: P-value is defined as the probability of obtaining a result equal
to or "more extreme" than what was actually observed, when the null
hypothesis is true
●● Alpha value (threshold for hypothesis validation)
Answer: Before you run any statistical test, you must first determine
your alpha level, which is also called the "significance level". By
definition, the alpha level is the probability of rejecting the null
hypothesis when the null hypothesis is true. Translation: its the
probability of making the wrong decision
●● Sample size
Answer: (n>30) sample size determination is the act of choosing the
number of observations or replicated to include in a statistical sample.
The sample size is an important feature of any empirical study in which
the goal is to make inferences about a population sample
●● Rate/Proportion
Answer: these terms are the terms used to document normalized data
●● Number/Count
Answer: These terms document non-normalized data
