QUESTION 31

1. Because they are based on probability, inferential statistics should

   	A.	Inform business decisions rather than drive or determine them
   	B.	Be relied upon as scientific fact
   	C.	Be treated as interesting but not compelling
   	D.	Only be used in the gambling industry
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 32

1. The linear correlation between an independent (x) and dependent (y) variable

   	A.	Is the foundation for simple (bivariate) regression
   	B.	Does not indicate a causal relationship, though one might exist
   	C.	Can be direct, inverse, or nonexistent
   	D.	Can be used to predict the value of y for any observed value of x
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 33

1. When using correlation for prediction,

   	A.	Negative correlations are not udeful
   	B.	Causation may not be important if the predictions are reliably accurate
   	C.	Correlation coefficients close to zero are ideal
   	D.	There is no need to construct a prediction interval
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 34

1. When using estimates to make decisions,

   	A.	It is important to always use a 95% confidence level
   	B.	It is important to remember that you will never achieve certainty
   	C.	It is important to calculate those estimates to at least six decimal places
   	D.	It is important to use a 100% confidence level so as to achieve certainty
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 35

1. Because you will often have less than perfectly valid data with which to work,

   	A.	It will be necessary to make your calculations twice
   	B.	It is important to avoid absolute certainty in your conclusions based on those data
   	C.	It is important to use smaller sample sizes
   	D.	It is important to delegate the decision-making responsibility to someone else
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 36

1. The proper interpretation of the coefficient for the independent variable in a simple or bivariate regression model is

   	A.	The multiplier for the dependent variable
   	B.	The value of SSE divided by he degrees of freedom
   	C.	The F statistic in scientific notation
   	D.	The change in the dependent variable for a one unit change in the independent variable
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 37

1. To find the probability that some random continuous variable is greater than a specific value of x, you should

   	A.	Subtract the CDF from 1
   	B.	Subtract the PDF from 1
   	C.	Use the binomial distribution
   	D.	Use a Z score
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 38

1. In a one-sample hypothesis test for a mean, if the reported p-value is a rounded .03, then

   	A.	We would be approximately 3% confident that we should reject the null hypothesis
   	B.	We would be approximately 97% confident that we would not be committing type 2 error if we rejected the null hypothesis
   	C.	We would be approximately 97% confident that we would not be committing type 1 error if we rejected the null hypothesis
   	D.	We know it was a left-tailed test
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 39

1. If the skew calculation for a sample data set is negative, but lies within the 90% confidence interval, then we

   	A.	May conclude with 90% confidence that the population is skewed to the left
   	B.	May conclude with 90% confidence that the population is skewed to the right
   	C.	May conclude with 90% confidence that the population has a normal (symmetrical) skew
   	D.	May conclude with 90% confidence that the population has low kurtosis
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 40

1. If a column chart has a nonzero origin, then

   	A.	It is considered an ideally formatted chart
   	B.	It should have been a line chart
   	C.	It should have been a pie chart
   	D.	It has too few columns
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 41

1. The standard deviation of a population

   	A.	Is the average of the squared deviations between each of the data points and the mean
   	B.	Is the average distance from each of the data points to the population's mean
   	C.	Is impossible to calculate
   	D.	Is only for statisticians
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 42

1. The coefficient of determination (R Squared)

   	A.	Is the percentage of the variation in the dependent variable explained by the regression model
   	B.	Is the standard deviation expressed as a percentage of the mean
   	C.	Is the standardized value of covariance
   	D.	Is the slope coefficient for the y intercept
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 43

1. Because the word "data" is plural,

   	A.	We have no word for a single piece of information
   	B.	We say and write that the data "is" ...
   	C.	We can use data as plural or singular
   	D.	We say and write that the data "are" rather than the data "is" ...
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 44

1. Because a p-value of zero, while theoretically possible is effectively impossible, a p-value of .00000 is written as

   	A.	< .01
   	B.	0.01
   	C.	~ .00000
   	D.	Approximately .00000
   	E.	All of the above
   	F.	None of the above

2.22222 points

QUESTION 45

1. ANOVA is an acronymn for

   	A.	Analysis of variance
   	B.	Another nominal observation variant abstract
   	C.	Absolute number of valid answers
   	D.	The death of a star
   	E.	All of the above
   	F.	None of the above