The owner of a large manufacturing company wishes to develop a new employee health benefits package. He selects 500 employees at random and asks them about their preferences regarding their current health benefits package. The 500 employees selected is a(n) ____________________.
Fill in the blank(s) with correct word
Q. 2The primary tool or measure for determining whether the assumed regression model is appropriate is _____.
a. the F test
b. residual analysis
c. the r2 value
d. the correlation coefficient
Q. 3Inventory position is defined as the amount of inventory on hand plus the amount
a. on order c. on reserve
b. promised to customers d. to be returned to suppliers
Q. 4The confidence level of a statistical inference measures:
a. the proportion of times a conclusion about a population will be correct.
b. the proportion of times a conclusion about a population will be wrong.
c. the proportion of times an estimation procedure will be correct.
d. the proportion of times an estimation procedure will be wrong.
Q. 5Data points having high leverage are often _____.
a. residuals
b. sum of squares error
c. influential
d. None of the answers is correct.
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