Test the null hypothesis at the 5 level of significance. What will be an ideal ...

Test the null hypothesis at the 5 level of significance.
 
  What will be an ideal response?

Q. 2

A box and whisker plot shows where the mean value falls relative to the median for a variable.
 
  Indicate whether the statement is true or false

Q. 3

If a confidence interval for a population mean is found to be wider than desired, the next step should be to ________.
 
  A) go ahead and use the confidence interval anyway
  B) take another sample of the same size as the original and use the standard deviation of the combined data for the confidence interval
  C) change the confidence level to a smaller value
  D) calculate the appropriate sample size using the standard deviation from the first sample and take a sample of that size in order to reduce the standard error

Q. 4

If the limitation in the finishing department is changed to 43 labor hours, the total profit ________.
 
  A) will decrease by 45
  B) will increase by 5
  C) will decrease by 5
  D) will increase by 45

Q. 5

In Crystal Ball, the ________ tool provides a priori sensitivity information about the impact of each model variable on a target forecast.
 
  A) Tornado Chart
  B) Correlation Matrix
  C) Batch Fit
  D) Bootstrap

Q. 6

A market research firm that surveys customers in a shopping mall by asking various people to respond to a short survey about a new product is performing convenience sampling.
 
  Indicate whether the statement is true or false

Q. 7

Multicollinearity is a condition occurring when two or more independent variables in the same regression model can predict each other better than the dependent variable.
 
  Indicate whether the statement is true or false