30 Jul 6 MCQs In Statistics …
1) The best regression line is the one that:
Answer
is furthest from the set of sample data points.
has an S-shape.
maximizes the sum of the squared errors.
minimizes the sum of the squared errors.
minimizes the coefficient of determination r².
(2) Which of the following is a qualitative factor rather than a quantitative factor?
Answer
Weekly sales for a company
New legislation
Total production cost
Gross national product
All of the above
(3) A consulting firm has received 2 Super Bowl playoff tickets from one of its clients. To be fair, the firm is randomly selecting two different employee names to ‘win’ the tickets. There are 6 secretaries, 5 consultants and 4 partners in the firm. Which of the following statements is not true?
Answer
The probability of a secretary winning a ticket on the first draw is 6/15.
The probability of a secretary winning a ticket on the second draw given a consultant won a ticket on the first draw is 6/15.
The probability of a consultant winning a ticket on the first draw is 1/3.
The probability of two secretaries winning both tickets is 1/7.
(4) The efficiency of sample information is the ratio of the expected value of sample information to the:
Answer
expected value of perfect information.
expected value.
utilization rate.
coefficient of optimism.
expected opportunity loss.
(5) Which of the following statements about scatter diagrams is true?
Answer
Time is always plotted on the Y axis.
It can depict the relationship among three variables simultaneously.
It is helpful when forecasting with qualitative data.
The variable to be forecasted is placed on the Y axis.
It is not a good tool for understanding time-series data.
(6) The random error in a regression equation:
Answer
is the predicted error.
includes both positive and negative terms.
will sum to a large positive number.
is used the estimate the accuracy of the slope.
is maximized in a least squares regression model.
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