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Quantitative Research Techniques + Statistics – Peregrine 69 questions with complete solutions 2025 Graded A+ Pass. Quantitative Research Techniques + Statistics – Peregrine 69 questions with complete solutions 2025 Graded A+ Pass.
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A company developed a smartphone whose average lifetime is unknown. In order to estimate the average, 200 smartphones are randomly selected from a large production line and tested; their average is found to be 5 years. The 200 smartphones represent: - ANSWERS-a sample Significance level - ANSWERS-Measures the reliability of a statistical inference inferential statistics - ANSWERS-Process of using sample statistics (mathematics) to draw conclusions about population parameters mutually exclusive - ANSWERS-Events that cannot occur at the same time. sampling error - ANSWERS-the difference between the results of random samples taken at the same time non-sampling error - ANSWERS-occurs when the sample data are incorrectly collected, recorded, or analyzed. Three types of errors: data acquisition errors, non-response errors (or bias), selection bias Design of a good survey components - ANSWERS-short survey, short/simple questions, start with demographic questions, ues dichtomous (yes-no) and multiple choice Direct observation - ANSWERS-example: counts backpacks on campus for a day stratified random sample - ANSWERS-a sample from selected subgroups of the target population in which everyone in those subgroups has an equal chance of being included in the research example: The manager of a customer service division wants to know if the customers in the past 12 months are satisfied with their purchase of CD's. There are four types of CD's.
Joint Probability - ANSWERS-the probability of the intersection of two events Union of two events - ANSWERS-The union of events A and B is the event containing all sample points that are in A or B or both Marginal Probability - ANSWERS-the probability of a single event without consideration of any other event Conditional Probability - ANSWERS-the likelihood that a target behavior will occur in a given circumstance Bayes Law - ANSWERS-calculates posterior probability exhaustive - ANSWERS-including everything possible; very thorough or complete Central Limit Theorem (CLT) - ANSWERS-The name of the theorem stating that the sampling distribution of a statistic (e.g. x ) is approximately normal whenever the sample is large and random. Allows us to draw conclusions about the population based on strictly sample data. sampling distribution of the mean - ANSWERS-1. the sampling distribution of the mean has a different mean from the original population
The branches in a decision tree are equivalent to - ANSWERS-events and acts What is needed to compute posterior probabilities? - ANSWERS-The sum of all the P(sj and li)'s, likelihood probabilities, p (li/sj) doing inferential statistics. - ANSWERS-The process of using sample statistics to draw conclusions about population parameters is called The confidence level - ANSWERS-measures the proportion of times an estimation procedure will be correct in the long run Parameter - ANSWERS-a summary measure that is computed sample space - ANSWERS-the set of all possible outcomes of a probability experiment prior probabilities - ANSWERS-initial estimates of the probabilities of events the standard error of the sample mean - ANSWERS-standard deviation of the distribution of the sample means , Standard deviation/sq rt (population size) Business Statistics - ANSWERS-the collection, summarization, analysis, and reporting of numerical findings relevant to a business decision or situation descriptive statistics - ANSWERS-uses graphical or numerical techniques to summarize and present data mean - ANSWERS-average measure of variability - ANSWERS-how closely scores bunch up around the central point; a statistic that indicates the spread of distribution range - ANSWERS-the difference between the highest and lowest scores in a distribution Median - ANSWERS-the middle score in a distribution; half the scores are above it and half are below it Mode - ANSWERS-the most frequently occurring score(s) in a distribution
Variance - ANSWERS-the average of the squared deviations from the mean standard deviation - ANSWERS-the square root of the variance and provides a measure of the standard, or average, distance from the mean Three concepts that a statistical inference problem contains - ANSWERS-the population, the sample, and the statistical inference Parameter - ANSWERS-a descriptive measure of a population statistic - ANSWERS-a number that describes a sample statistical inference - ANSWERS-process of making an estimate, prediction, or decision about a population based on a sample confidence level - ANSWERS-Proportion of times that an estimating procedure will be correct Confidence level + significance level - ANSWERS-= 1 simple random sampling - ANSWERS-A sampling procedure in which each member of the population has an equal probability of being included in the sample. (example - tickets in a bin each assigned a number) stratified random sampling - ANSWERS-obtained by separating the population into mutually exclusive sets of data (strata) then drawing a simple random sample from each stratum cluster sampling - ANSWERS-random sample of the groups or clusters of elements versus a simple random sample of individual objects Probability of any outcome must be between - ANSWERS-0 and 1 Sum of all probabilities must equal: ____ - ANSWERS- Three approaches to assigning probability - ANSWERS-classical approach, relative frequency approach, subjective approach Classical Approach to Probability - ANSWERS-associated with games of chance. If