A random number is a number that ________.

A random number is a number that ________.
 
  A) is selected through subjective sampling
  B) can only be found in a random number table
  C) is precise to six decimal places
  D) is uniformly distributed between 0 and 1

Q. 2

In least-squares regression, the best-fitting line minimizes ________.
 
  A) the sum of the squares of the dependent variables
  B) the squares of the slope and intercept term
  C) the squares of the mean values of X and Y
  D) the sum of squares of the observed errors

Q. 3

In this course, the term business statistics refers to the set of tools and techniques that are used to convert information into meaningful data.
 
  Indicate whether the statement is true or false

Q. 4

What problems can occur when the independent variables are correlated with each other?
 
  What will be an ideal response?

Q. 5

Which of the following is the calculated p-value for Blocks? (Hint: Use Excel)
 
  A) 0.52
  B) 0.93
  C) 0.20
  D) 0.72

Q. 6

The ________ is the average of the largest and smallest values in the data set.
 
  A) arithmetic mean
  B) median
  C) mode
  D) midrange

Q. 7

Statistics is a discipline that involves tools and techniques used to describe data and draw conclusions.
 
  Indicate whether the statement is true or false

Q. 8

In SimQuick, service level is defined as the ________.
 
  A) mean time an object spends in the buffer
  B) number of objects in the buffer
  C) fraction of time that the work station was waiting to pass an object on to the next element
  D) percentage of objects entering the process divided by the total number that tried to enter