The range is an ideal measure of variation since it is not sensitive to extreme values in the data.
Indicate whether the statement is true or false
Q. 2A variable, i.e., the length of time it takes for an employee to complete an assembly procedure at an automotive plant, is a ratio level variable.
Indicate whether the statement is true or false
Q. 3Is there sufficient evidence to reject the null hypothesis that there is no difference between the stocks' earning forecasts? Use = 0.05.
What will be an ideal response?
Q. 4For the data given above, identify the Crystal Ball function that models the number of cancellations.
A) CB.Poisson(0.02, Reservation limit)
B) CB.Binomial(0.02, Reservation limit)
C) CB.Poisson(0.02, Customer demand)
D) CB.Binomial(0.02, Reservations made)
Q. 5A dairy farm in Wisconsin bottles milk in one gallon containers. At a recent meeting, the production manager asked top management for a new filling machine that he argued would assure that all containers had exactly one gallon of milk.
Based on sound statistical principles, the top management group should conclude that the production manager could have merit to his argument. Indicate whether the statement is true or false
Q. 6Sampling error depends on the size of the sample relative to the population and is inherent in any sampling process.
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Q. 7On a survey, amount of education is recorded as some high school, high school graduate, some college, college graduate, etc. This is an example of ordinal data.
Indicate whether the statement is true or false
Q. 8If increasing the number of independent variables increases R2, why isn't it advised to simply increase the number of independent variables in a model to explain the variability in the dependent variable?
What will be an ideal response?
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