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2026-2027) Correct Detailed & Verified ANSWERS (100% Accurate
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The grocer is running a 10 for $10 special on cans of soup. You can mix and match
the 5 different flavors of soup. You decide to purchase 10 cans. What can we use
to count all the possible outcomes of flavors picked? - ANSWERS-Combination
There is a 90% chance you will have to wait in line for more than 6 minutes to
check out at the grocer. What is the complement? - ANSWERS-10%. If there is a
90% chance of yes, then there is a 10% chance of no. 90% + 10% = 100%
50% chance it will rain. There is a 20% chance you park in the garage in the rain
and a 60% chance you park there if it is not raining. Given you are parked in the
garage, what is the probability it is raining? Which probability technique applies? -
ANSWERS-Bayes
You conduct a quick survey asking friends to rate your new website on a scale of 1
- 10. Which graph will show how the responses are distributed? - ANSWERS-
Histogram. Keyword: Distribution (How many people answered 1, 2, 3...... NOTE:
The histogram is a bar chart
You have the number of customers that visit your website by clicking on a
promotion email. Which graph can show you if sales are correlated to the number
of promotional emails each week? - ANSWERS-Scatter Diagram Keyword:
Correlation or Relationship
,A relationship is stronger when r is closer to what number? - ANSWERS-1 (100%)
A relationship is weakest when r is closer to what number? - ANSWERS-0
As sales increase, estimated delivery times decrease. This relationship is _______
- ANSWERS-Negative
As the age of the customer increases, the credit score increases. This relationship
is_______ - ANSWERS-Positive
Which tool helps us collect and organize the data for a histogram? - ANSWERS-
Check sheet
You want to compare the average daily gas prices in your neighborhood to
average daily gas prices by the Interstate. Name your tool. - ANSWERS-Two
Sample t-test
You want to compare the average weekly gas prices in your neighborhood to your
annual budgeted price. Name your tool. - ANSWERS-One Sample t-test
T-test uses this test statistic - ANSWERS-T-stat. (must be higher than critical value
to reject the null)
ANOVA uses this test statistic - ANSWERS-F-stat. (must be higher than critical
value to reject the null)
, You want to compare price per gallon between the neighborhood gas station, the
Grocer station and the Interstate station. Name your tool. - ANSWERS-ANOVA
You want to compare the number of times the price per gallon at your
neighborhood station and the Grocer station exceeds the budget price. Name
your tool. - ANSWERS-Chi-square. The # of times is a frequency, not an average.
This is nominal data.
_________takes information from one data set and can predict information for
another data set. - ANSWERS-Regression
There is no significant difference in the price per gallon between Station #1 and
Station #2. Which hypothesis am I? - ANSWERS-Null Null is always "no"
Your p-value is 0.04. Can you reject the null? - ANSWERS-Yes. LESS then 0.05
means YES. when interpreting the p-value.
Your t-stat is 2.06 and your t-critical is 1.65. Can you reject the null? - ANSWERS-
Yes. If your score (t-stat) is larger than your cut score (t-critical), you pass the test!
Your F-stat is 0.26 and you F-critical is 1.96. Can you reject the null? - ANSWERS-
No. If your score (F-stat) is smaller than your cut score (F-critical), you do not pass
the test. We can only Reject when we pass.
Your reject the null hypothesis. Did you find significance? - ANSWERS-Yes.
Rejecting the null ("no") means we found something statistically significant. Yay!