A joint probability distribution for discrete random variables X and Y is denoted by ________.
A) P(Xi, Yi) = Xi Yi
B) P(X = x, Y = y) = f(x, y)
C) P(X > Y) = f(x, y)
D) P(j(x), j(y))
Q. 2When a survey uses the responses strongly disagree, disagree, neutral, agree, strongly agree, this is an example of:
A) nominal data.
B) ordinal data.
C) interval data.
D) ratio data.
Q. 3Which of the following decisions is chosen in a minimin strategy?
A) the decision that minimizes the maximum payoff
B) the decision that maximizes the minimum payoff
C) the decision that minimizes the minimum payoff
D) the decision that maximizes the maximum payoff
Q. 4Recently the managers for a large retail department store stated that a study has revealed that female shoppers spend on average 23.5 minutes longer in the store per visit than do male shoppers.
Based on this information, the managers can be confident that female shoppers, as a population, do spend longer times in the store than do males shoppers, as a population. Indicate whether the statement is true or false
Q. 5All other factors held constant, the higher the confidence level, the closer the point estimate for the population mean will be to the true population mean.
Indicate whether the statement is true or false
Q. 6In the context of linear optimization problems, define reduced cost.
What will be an ideal response?
Q. 7A joint probability distribution describes the probabilities of outcomes ________.
A) of two different random variables occurring at the same time
B) of the same random variable measured at two different time periods
C) of two different random variables occurring sequentially
D) of two random variables measured in two different time periods
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