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1. Small business owner develops a model to estimate the sales of hand comb based on a buyer's annual income. This is an example of

- descriptive analytics

- distinctive analytics

- predictive analytics

- prescriptive analytics

2. Find the false of the following regarding an interval estimate,

- It grows wider with larger samples - It is the sample mean +/- margin of error

- Is a range of a population characteristic

- It grows wider with smaller samples

3. Conditional probabilities aren't applicable for

- Non-independent events

- Non-mutually exclusive events

- Mutually exclusive events - Independent events

4. What is the rationale for fitting a theoretical distribution to observed data?

- It provides the basis for decision-making

- The data would otherwise be useless without knowing the distribution - It enables inferences beyond the range of the sample - It will model the underlying nature of the data

5. Normally the number of permutations of a group of numbers will be

- Greater than the number of combinations

- lower than the number of combinations

- same as the number of combinations