statistics management statistics in 308 management

statistics management
statistics in 308 management



Question 1.1. What is the probability of type II error when the null hypothesis is rejected?

@Answer found in section 4.3 The One-sample t-Test, in Statistics for Managers

  (Points : 1)
       0.5

       0.05

       0.025

       0




Question 2.2. According to the central limit theorem, a population which is skewed to begin with will still be skewed when it is re-formed as a distribution of sample means. (Points : 1)
       True

       False


Question 3.3. Which of the following is a provision of the central limit theorem? (Points : 1)
       A skewed distribution will remain skewed however it is plotted.

       There are limits to the range of scores that can be fitted to a distribution.

       A distribution based on sample means will be normal.

       There will always be theoretical differences between distributions.


Question 4.4. What is the relationship between the power of a statistical test and decision errors?

@Answer found in section 4.3 The One-sample t-Test, in Statistics for Managers (Points : 1)
       Powerful tests minimize the risk of decision errors.

       Powerful tests are more inclined to type II than type I errors.

       Powerful tests compensate for decision errors with stronger effect sizes.

       Powerful tests minimize type II errors.


Question 5.5. Why do the critical values change with degrees of freedom for the t-tests?

@Answer found in section 4.3 The One-sample t-Test, in Statistics for Managers

  (Points : 1)
       Different degrees of freedom define different t distributions.

       Because the critical values are calculated directly from degrees of freedom.

       The degrees of freedom reflect the value of SEM.

       The degrees of freedom are indexed to the M – µM difference.


Question 6.6. The standard error of the mean can be calculated by dividing µ by the square root of the number of values in the distribution. (Points : 1)
       True

       False


Question 7.7. If a certifying agency raises the requirements for real estate agents, what sort of decision error is the agency protecting against? (Points : 1)
       Type I

       Type II

       Type III

       Type IV


Question 8.8. Statistical significance for a tested mean difference means practical significance as well. (Points : 1)
       True

       False


Question 9.9. The standard error of the mean is actually the standard deviation of all of the means that make up the distribution of sample means. (Points : 1)
       True

       False


Question 10.10. What is the alternate hypothesis in a problem where sales group two is predicted to be “. . . significantly less productive than sales group one?”

@Answer found in sections 4.3 The One-sample t-Test and 4.4 Hypothesis Testing, in Statistics for Managers (Points : 1)
       HA: µ1

? µ 2

       HA: µ 1= µ 2

       HA: µ 1> µ2

       HA: µ 1< µ 2