Answer each question, most are T/F or multiple choice except for 3 fill the blank. Pretty easy will tip 100% if correct.

1-The binomial distribution is a discrete distribution that is applied to situations where n independent and identical trials occur, with each trial resulting in a success or failure, and we want to generate the random number of successes in the n trials.

True

False

2-The time series component that reflects a wavelike pattern describing a long-term trend that is generally apparent over a number of years is called cyclical.

True

False

3-If two samples contain the same number of observations, then the data must be paired.

True

False

4-Multicollinearity is a situation in which two or more of the explanatory variables are highly correlated with each other.

True

False

5-A two-tailed test is one where

A. Negative sample means lead to rejection of the null hypothesis
B. No results lead to the rejection of the null hypothesis
C. Results in only one direction can lead to rejection of the null hypothesis
D. Results in either of two directions can lead to rejection of the null hypothesis

6-Non-truthful response is a particular problem when:

A. The sample is from an unusual population.

B. Surveys are anonymous.

C. Sensitive questions are asked.

D. Interviewers are not trained.

7-The linear trend Yt= 120 +2t was estimated using a time series with 20 time periods. The forecasted value for time period 21 is

A.120
B.122
C.162
D.160

8-Of type I and type II error, which is traditionally regarded as more serious?

A.Type I
B.Type II
C.Type I and Type II are equally serious
D.Neither Type I or Type II is serious and both can be ded

9-Rounding the solution of a linear programming to the nearest integer values provides a(n)

A.feasible solution that is not necessarily optimal
B.infeasible solution
C.integer solution that is optimal
D.integer solution that may be neither feasible nor optimal

10-Bidding for contracts is an example of which of the following types of simulation model application?

A.Operations models
B.Financial models
C.Marketing models
D.Games of chance
E.None of these options

11-In using Excel to solve linear programming problems, the target cell represents the:

A.decision variables
B.constraints
C.value of the objective function
D.total cost of the model

12-Outliers are observations that

A.lie outside the sample.
B.render the study useless.
C.lie outside the typical pattern of points on a scatterplot.
D.disrupt the entire linear trend.

13-The sampling mean is the _________ estimate for the population mean.

A.random
B.interval
C.point
D.simple

14-The personnel department of a large corporation wants to estimate the family dental expenses of its employees to determine the feasibility of providing a dental insurance plan. A random sample of 12 employees in 2004 reveals the following family dental expenses (in dollars): 115, 370, 250, 93, 540, 225, 177, 425, 318, 182, 275, and 228. The sample mean is _____________. Construct a 95% confidence interval estimate of the mean family dental expenses for all employees of this corporation. The upper boundary/limit is __________and the lower boundary/limit is ________. (Please keep two decimal points.)

15-La Cabaa, a popular motel chain in the southwest, is interested in developing a regression model that can predict the occupancy rate % of its motels. Currently, the company is interested in using two explanatory variables to predict occupancy. They want to use the amount of advertising in $ used by each motel and if the particular location a franchised location. Some regression information is presented below:

Summary measures
Multiple R	0.5358
R-Square	0.2871
Adj R-Square	0.2223
StErr of Estimate	7.582
Regression coefficients
	Coefficient	Std Err	t-value	p-value
Constant	43.118	11.4263	3.7735	0.0010
Advertising	0.0013	0.0006	2.4119	0.0247
Franchise	3.038	3.1759	0.9567	0.3491

If we write the linear regression model as Y= a+bX1 + cX2, where X1 is Advertising, and X2 is Franchise, then from the above information, we can infer that a is _______ , b is _______, and c is _______. (Please keep three decimal points.)

The coefficient of determination is 0.2871; this represents ________percentage of the variation in the occupancy can be explained by this regression equation. (Please keep two decimal points.)

From the p-values, we may conclude that at 5% confidence level, all the coefficients are statistically__________ after refining the regressors. (Please only fill in "significant" or "insignificant".)

16-The charitable foundation for a large metropolitan hospital is conducting a study to characterize its donor base. In the past, most donations have come from relatively wealthy individuals; the average annual donor income in the most recent survey was right at $100,000. The foundation believes the average has now increased. A random sample of 200 current donors showed a mean annual income of $103,157 and a standard deviation of $27,498.

To perform this study, we should form a null hypothesis stating that the average is____________ 100,000. (Please fill in only one of the following: "less than", "less than or equal to", "equal to", "greater than", "greater than or equal to". Please do not use symbols.)

At the 10% significant level, the p-value/statistics is _____________(Please keep three decimal points) so we should__________________ the null hypothesis (Please only fill in "reject" or "not reject".).

Hence, we may conclude that the average ____________increased (Please only fill in "has" or "has not") and the probability that our conclusion is correct is at least_____________ percent.