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MSIS 3223 TEST 2 QUESTIONS WITH 100% CORRECT ANSWERS

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MSIS 3223 TEST 2 QUESTIONS WITH 100% CORRECT ANSWERS \Q\.Which of the following is true of normal distributions? - ANSWERS✔-The Mean, median and mode are all equal \Q\.Probability is the likelihood that an outc ...

MSIS 3223 TEST 2 QUESTIONS WITH 100% CORRECT ANSWERS \Q\.Which of the following is true of normal distributions? - ANSWERS✔-The Mean, median and mode are all equal \Q\.Probability is the likelihood that an outcome occurs.T/F - ANSWERS✔-True \Q\.The union of two events contains all outcomes that belong to either of the two events. T/F - ANSWERS✔-True \Q\.Conditional probability is the probability of occurrence of one event 'A' given that another event 'B' is known to be true or has already occurred. T/F - ANSWERS✔-True \Q\.A probability distribution is the characterization of the possible values that a random variable may assume along with the probability of assuming these values. T/F - ANSWERS✔-True \Q\.A random variable is a numerical description of the outcome of an experiment. T/F - ANSWERS✔-True \Q\.The expected value of a random variable corresponds to the notion of the median for a sample. T/F - ANSWERS✔-False \Q\.The normal distribution is a continuous distribution that is described by the familiar bell-shaped curve and is perhaps the most important distribution used in statistics. T/F - ANSWERS✔-True \Q\.The triangular distribution is defined by three parameters: the mean, median, and mode. T/F - ANSWERS✔-False \Q\.Higher variance implies low uncertainty. T/F - ANSWERS✔-False \Q\.Variance calculates the probability of a random variable lying within a certain interval. T/F - ANSWERS✔-True \Q\.True or False Regression analysis is a tool for building mathematical and statistical models that characterize relationships between a dependent (ratio) variable and one or more independent, or explanatory variables (ratio or categorical), all of which are numerical. T/F - ANSWERS✔-True \Q\.Regression models of ____ data focus on predicting the future. a. time-series b. panel c. cross sectional d. missing - ANSWERS✔-a. time-series \Q\.In predictive analysis models, a second-order polynomial has only one hill or valley. T/F - ANSWERS✔-True

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