A major automobile maker has two models of sedans. The first model has been shown to get an average of 27 mpg on the highway with a standard deviation equal to 5 mpg. The second model gets 33 mpg on average with a standard deviation of 8 mpg.
Based on this information the first car model is relatively more variable than the second car model. Indicate whether the statement is true or false
Q. 2In Crystal Ball, Latin Hypercube sampling results in a more even distribution of forecast values than Monte Carlo forecasting because it samples the entire range of the distribution in a more consistent manner.
Indicate whether the statement is true or false
Q. 3How many degrees of freedom are associated with the Kruskal-Wallis test?
What will be an ideal response?
Q. 4The company that makes a new weight loss pill claims that people who use this pill according to instructions will lose an average of 20 pounds during a four-month period. They say the claim is based on a study of 300 people.
Which of the following statistical methods was most likely used to arrive at the company's conclusion?A) Estimation
B) Hypothesis testing
C) Histograms
D) Bar charts
Q. 5Based on the empirical rule we can expect about 95 percent of the values in bell-shaped distributions to be within one standard deviation of the mean.
Indicate whether the statement is true or false
Q. 6In Crystal Ball, Monte Carlo sampling divides each assumption's probability distribution into intervals of equal probability and generates an assumption value randomly within each interval.
Indicate whether the statement is true or false
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