Question

Question 3:

a. In making an inference about a population, it is usually desirable to make a/an __________ estimate.

• sample
• standard
• average
• interval

b. If housing starts are always stronger in the spring and summer than during the fall and winter. This is a result of what type of data pattern?

• Cyclical
• Irregular
• Seasonal
• Trend

c. For the forecasting process, where would the model selection step fall in the process?

• After specifying the objectives and before determining what to forecast.
• After preparing the forecast and before presenting the forecast.
• After considering data and before evaluating the model.
• After identifying the time dimensions and before selecting the model.

d. Which one of the following statements is correct about statistical hypothesis testing?

• The approach is to see whether you find sufficient evidence to reject the null hypothesis.
• The approach is to see whether you find sufficient evidence to accept the alternative hypothesis.
• The approach is to see whether you find sufficient evidence to reject the alternative hypothesis.
• The approach is to see whether you find sufficient evidence to accept the null hypothesis.

e. How are the t-distribution and the normal distribution similar?

• They both are symmetrical.
• They both have the same concentration around the peak.
• They both work with sample data.
• They both have multiple peaks.

f. The t-test, F-test, Durbin-Watson, and chi-square are what kind of tests?

• Central tendency
• Statistical hypotheses
• Correlation
• Dispersion

Answer 1

sample estimate means are used to estimate population means; sample proportions are used to estimate population proportions.

1).The correct option is (a).

Sample estimate.

2). The correct option is (b).

Seasonal pattern.

The season impact the housing stats a lot in winter and is at peak in summer as well.

3). The correct option is (a).

After specifying the objectives and before determining what to forecast.

4). The correct option is (d).

The approach is to see whether you find sufficient evidence to accept the null hypothesis.

The purpose of hypothesis testing is to determine whether there is enough statistical evidence in favor of a certain belief, or hypothesis, about a parameter.

5). The correct option is (b).

They both have the same concentration around the peak.

The T distribution is similar to the normal distribution, just with fatter tails. Both assume a normally distributed population.

6). The correct option is (b).

Statistical hypothesis tests.

All are the tests of statistical hypothesis.

Hope you got the answer.

Kindly comment for further explanation.

Thanks ?