Business Statistics Peregrine Exam
Review
To summarize qualitative variables, you would use a - CORRECT
ANSWER-Frequency Table
T/F
Standard Deviation is a measure of central tendency in a set of data? -
CORRECT ANSWER-False
The most useful measure of dispersion in a set of data is the - CORRECT
ANSWER-Standard Deviaton
A statement about a population parameter that is subject to verification is a/an -
CORRECT ANSWER-hypothesis
The p-value in hypothesis testing is - CORRECT ANSWER-The probability of the
sample results if the null hypothesis is true
When testing for a population mean, one would use a student's t distribution if -
CORRECT ANSWER-the significance level is less than 0.05
the sample size is > 30
Failing to reject the null hypothesis gives - CORRECT ANSWER-The strongest
possible evidence the null hypothesis is true
When using inferential statistics, it is critical to have - CORRECT ANSWER-A
truly random sample of the population
The three ways of assessing probabilities are - CORRECT ANSWER-Classical,
Empirical, and Subjective
If there are three, equally likely events, the probability of each event occurring is -
CORRECT ANSWER-1/3
A probability - CORRECT ANSWER-Will always be between 0 and 1, inclusive
Review
To summarize qualitative variables, you would use a - CORRECT
ANSWER-Frequency Table
T/F
Standard Deviation is a measure of central tendency in a set of data? -
CORRECT ANSWER-False
The most useful measure of dispersion in a set of data is the - CORRECT
ANSWER-Standard Deviaton
A statement about a population parameter that is subject to verification is a/an -
CORRECT ANSWER-hypothesis
The p-value in hypothesis testing is - CORRECT ANSWER-The probability of the
sample results if the null hypothesis is true
When testing for a population mean, one would use a student's t distribution if -
CORRECT ANSWER-the significance level is less than 0.05
the sample size is > 30
Failing to reject the null hypothesis gives - CORRECT ANSWER-The strongest
possible evidence the null hypothesis is true
When using inferential statistics, it is critical to have - CORRECT ANSWER-A
truly random sample of the population
The three ways of assessing probabilities are - CORRECT ANSWER-Classical,
Empirical, and Subjective
If there are three, equally likely events, the probability of each event occurring is -
CORRECT ANSWER-1/3
A probability - CORRECT ANSWER-Will always be between 0 and 1, inclusive
