Question

In: Statistics and Probability

State whether each of the statements below is TRUE or FALSE. 1.1. The scientific approach to...

State whether each of the statements below is TRUE or FALSE.
1.1. The scientific approach to decision making can be summarised as: Data Hypothesis Conclusion
1.2. Exponential smoothing is a method suitable for forecasting data with no trend or seasonal pattern.
1.3. Experimentation refers to the manipulation of variables under controlled conditions.
1.4. The linear regression line for a set of data is given as ?= – 17 + 1.2?. It thus follows that there is a direct relationship between ? and ?.
1.5. The outcome of a patient’s blood type test is an example of a binomial experiment.
1.6. Approximately 95% of the area below the normal distribution curve lies between ?=−3 and ?=+3.
1.7. The sales percentage per region per office is quantitative and continuous.
1.8. A frequency table shows the number of occurrences of a variable falling into a specific range or category.
1.9 A correlation coefficient of +1 means perfect negative linear correlation.
1.10 Any sampling method in which the observations are not selected randomly is called non-probability sampling.

Solutions

Expert Solution

Note : allowed to solve the first four questions.

1.1. The scientific approach to decision making can be summarised as: Data Hypothesis Conclusion
Correct answer : False, The scientific approach to decision making can be summarised as Goal Model Data Evaluation Revision


1.2. Exponential smoothing is a method suitable for forecasting data with no trend or seasonal pattern.
Correct answer : True


1.3. Experimentation refers to the manipulation of variables under controlled conditions
Correct answer : True.

1.4. The linear regression line for a set of data is given as ?= – 17 + 1.2?. It thus follows that there is a direct relationship between ? and ?.
Correct answer :
True, x and y are linear correlated. One unit increase in x, increases y by 1.2 units.

1.5. The outcome of a patient’s blood type test is an example of a binomial experiment.
Correct answer: False, a binomial experiment there must be only two outcomes, success and failure but in blood group type there more than 2.

1.6. Approximately 95% of the area below the normal distribution curve lies between ?=−3 and ?=+3.
Correct answer : False - Approximately 95% of the area below the normal distribution curve lies between ?=−2 and ?=+2. 97.5 % of the area lies between z = -3 and z = 3


Related Solutions

State whether EACH of the following statements are true or false. A. A fraction A of...
State whether EACH of the following statements are true or false. A. A fraction A of the Sun’s radiation gets reflected off the atmosphere. (T/F) B. The Earth surface radiates both visible and infrared radiation. (T/F)                            [ C. Most of the visible radiation from the sun is absorbed by the atmosphere. (T/F)             D. The atmosphere emits thermal infrared radiation. (T/F) E. The greenhouse effect is due to the thermal...
State whether each of the following are true or false. 1.1 A TPS uses simple procedures...
State whether each of the following are true or false. 1.1 A TPS uses simple procedures to record and store day-to-day transactions. 1.2       contemporary information systems are interfacing with customers and suppliers using electronic commerce technology, CRM, and SCM over the internet. 1.3 processes represent the data acquired from an information system. 1.4 All stakeholders of an information system share the same perspective of the system. 1.5 An executive information system (EIS) is a highly interactive IT system that allows...
1.Below are three statements. For each statement: (i) State whether the statement is true or false....
1.Below are three statements. For each statement: (i) State whether the statement is true or false. (ii) Explain your reasoning. A. In an additive relationship, Z defines a large compositional difference across values of X. B. Field experiments have lower external validity than do laboratory experiments. C. Random assignment neutralizes rival explanations.
Determine whether each of the statements below is true or false, and place it in the...
Determine whether each of the statements below is true or false, and place it in the appropriate bin. Which statements below are True and which are False: 1. It is possible to move at constant speed without moving at constant velocity 2.  It is possible to move at constant velocity without moving at constant speed 3. If you are given an objects speed you can definitely determine it's velocity 4. Two objects traveling the same velocity must have the same speed...
For each of the following statements, state whether the statement is true or false AND justify...
For each of the following statements, state whether the statement is true or false AND justify your answer. When a map-reduce job is running on Hadoop, the number of map tasks must be equal to the number of reduce tasks because each map task feeds its output to a specific reduce task. In order to guarantee the scalability of the system, each file block is replicated three times in Hadoop distributed file system (HDFS). When a map-reduce job is submitted...
True or false: For each of the statements, determine whether it is true or false, then...
True or false: For each of the statements, determine whether it is true or false, then explain in a few sentences why that is the answer. Note: no marks will be given for answers that do not include an explanation. 1. If money stops being a reliable store of value, then it ceases to be useful as a medium of exchange. 2. The gold standard is an improvement over actual gold coinage because it allows the government/central bank to control...
State whether the statements below are true or false and explain your answer in detail. If...
State whether the statements below are true or false and explain your answer in detail. If you are uncertain, make sure that you explain why. In the classical model, the rate of interest is determined by the investment and the saving functions. However, in the Keynesian model, the rate of interest is determined by the equality of aggregate output (GDP) with aggregate expenditure (Y=C+I+G).
For each of the statements below, indicate whether the statement is True or False AND provide...
For each of the statements below, indicate whether the statement is True or False AND provide one or two explanatory sentences to support your answer. a. In New Zealand, the Capital Asset Pricing Model (CAPM) that is used to compute the cost of equity capital adjusts the risk free rate for the average investor tax rate but this adjustment is not made for the risk free rate component in the post-tax market risk premium. b. Reinvestments in the firm’s net...
For each of the following statements, state whether you think the statement is true, false, or...
For each of the following statements, state whether you think the statement is true, false, or uncertain; and explain your answer. If an individual holds a whole-life insurance policy, it is not necessary to monitor the policy periodically. If the stock market is efficient, the best strategy is buy and hold for the long term. A young person should always buy term insurance and not whole-life insurance.
Please state whether each of the following statements is TRUE or FALSE, and then explain your...
Please state whether each of the following statements is TRUE or FALSE, and then explain your choice briefly. Please start your answer by writing either TRUE or FALSE. Answers without that clear statement at the beginning, and with excessively long (more than 2-3 short sentences) explanations will be penalized. Banks can still influence the money supply if they are required to hold all deposits in reserve. In the months of November and December, people in the U.S. hold a larger...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT