Which of the following is not true for a prediction interval?
A) It is an interval estimate of a population parameter.
B) It provides a range for predicting a new value from the same population.
C) It is associated with the distribution of the random variable itself.
D) It has a wider interval than the corresponding confidence interval.
Q. 2Is there sufficient evidence to reject the null hypothesis that the average number of machines per order is the same for different regions of the country?
What will be an ideal response?
Q. 3If 7.2 additional hours of finishing time were available, the profit would change by ________.
A) 45
B) 369
C) 324
D) 450
Q. 4If a population is very large, it may be better to select a sample from the population than to try to obtain a census in an effort to reduce measurement error.
Indicate whether the statement is true or false
Q. 5In Crystal Ball, a tornado chart differs from a sensitivity chart in that the tornado chart ________.
A) is used only for normally distributed data
B) is used only for uniformly distributed data
C) analyzes sample statistics empirically by repeatedly sampling the data and creating distributions of the statistics
D) tests each assumption independently while freezing the other variables at their base values
Q. 6Since regression analysis involves numerical data, it is not possible to use categorical data to build a regression model.
Indicate whether the statement is true or false
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