What does the principle of parsimony suggest?
A) A simple model with fewer independent variables may not produce an effective result.
B) The fewest number of explanatory variables that explain the independent variable need to be included in the model.
C) Good regression models are often based on sound technical analysis.
D) To avoid the problem of multicollinearity, the number of independent variables need to be sufficiently high.
Q. 2Find the confidence interval for a population mean of 615 acres at a 90 level of confidence with a sample size of 52 and standard deviation of 27 acres.
A) 189 to 1190 acres
B) 608.84 to 621.16 acres
C) 452 to 4252 acres
D) 172 to 2008 acres
Q. 3In the expression 3.0A + 3.5B + 2.3C 850, where A, B, and C are decision variables of a problem, the constraint function is the ________.
A) contradiction of the inequality given in the expression
B) inequality in the expression
C) left-hand side of the expression
D) right-hand side of the expression
Q. 4Data are considered to be right-skewed when the mean lies to the right of the median.
Indicate whether the statement is true or false
Q. 5In the one-way ANOVA test, if the sample sizes are large, then the assumption that the underlying population distributions are normal is not necessary.
Indicate whether the statement is true or false
Q. 6Find the confidence interval for a population mean of 1.6 pounds at a 95 level of confidence with a sample size of 112 and standard deviation of 0.2 pounds.
A) 1.89 to 1.90 pounds
B) 4.52 to 42.52 pounds
C) 1.56 to 1.64 pounds
D) 1.72 to 2.08 pounds
Q. 7In linear optimization, the phrase must contain exactly specifies a(n) ________ relationship.
A) =
B)
C)
D)
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