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QUANTITATIVE RESEARCH TECHNIQUES + STATISTICS – PEREGRINE WITH COMPLETE SOLUTIONS GUARANTEED PASS.pdf
Typology: Exams
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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: - ANSWER - >a sample Significance level - ANSWER - >Measures the reliability of a statistical inference inferential statistics - ANSWER - >Process of using sample statistics (mathematics) to draw conclusions about population parameters mutually exclusive - ANSWER - >Events that cannot occur at the same time. sampling error - ANSWER - >the difference between the results of random samples taken at the same time non-sampling error - ANSWER - >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 - ANSWER - >short survey, short/simple questions, start with demographic questions, ues dichtomous (yes-no) and multiple choice Direct observation - ANSWER - >example: counts backpacks on campus for a day stratified random sample - ANSWER - >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 - ANSWER - >the probability of the intersection of two events Union of two events - ANSWER - >The union of events A and B is the event containing all sample points that are in A or B or both Marginal Probability - ANSWER - >the probability of a single event without consideration of any other event Conditional Probability - ANSWER - >the likelihood that a target behavior will occur in a given circumstance Bayes Law - ANSWER - >calculates posterior probability
exhaustive - ANSWER - >including everything possible; very thorough or complete Central Limit Theorem (CLT) - ANSWER - >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 - ANSWER - >1. the sampling distribution of the mean has a different mean from the original population
standard deviation - ANSWER - >a computed measure of how much scores vary around the mean score Type 1 error - ANSWER - >Rejecting null hypothesis when it is true type 11 error - ANSWER - >false negative Type 1 error criminal - ANSWER - >Innocent person is wrongly convicted The hypothesis of most interest to the researcher is: - ANSWER - >the alternative hypothesis p-value - ANSWER - >The probability level which forms basis for deciding if results are statistically significant (not due to chance). Variance - ANSWER - >the square of the standard deviation one-tailed test - ANSWER - >A hypothesis test in which rejection of the null hypothesis occurs for values of the test statistic in one tail of its sampling distribution. unbiased estimator - ANSWER - >a sample statistic which has an expected value equal to the value of the population parameter Suppose a population of blue whales is 8000. Researchers are able to garnish a sample of oceanic movements from 100 blue whales within the population. Thus,
prior probabilities - ANSWER - >initial estimates of the probabilities of events the standard error of the sample mean - ANSWER - >standard deviation of the distribution of the sample means , Standard deviation/sq rt (population size) Business Statistics - ANSWER - >the collection, summarization, analysis, and reporting of numerical findings relevant to a business decision or situation descriptive statistics - ANSWER - >uses graphical or numerical techniques to summarize and present data mean - ANSWER - >average measure of variability - ANSWER - >how closely scores bunch up around the central point; a statistic that indicates the spread of distribution range - ANSWER - >the difference between the highest and lowest scores in a distribution Median - ANSWER - >the middle score in a distribution; half the scores are above it and half are below it Mode - ANSWER - >the most frequently occurring score(s) in a distribution
Variance - ANSWER - >the average of the squared deviations from the mean standard deviation - ANSWER - >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 - ANSWER -
the population, the sample, and the statistical inference Parameter - ANSWER - >a descriptive measure of a population statistic - ANSWER - >a number that describes a sample statistical inference - ANSWER - >process of making an estimate, prediction, or decision about a population based on a sample confidence level - ANSWER - >Proportion of times that an estimating procedure will be correct Confidence level + significance level - ANSWER - >= 1 simple random sampling - ANSWER - >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 - ANSWER - >obtained by separating the population into mutually exclusive sets of data (strata) then drawing a simple random sample from each stratum cluster sampling - ANSWER - >random sample of the groups or clusters of elements versus a simple random sample of individual objects Probability of any outcome must be between - ANSWER - >0 and 1 Sum of all probabilities must equal: ____ - ANSWER - > 1 Three approaches to assigning probability - ANSWER - >classical approach, relative frequency approach, subjective approach Classical Approach to Probability - ANSWER - >associated with games of chance. If an experiment has N possible outcomes, this method would assign probability of 1/n to each customer. For example, the probability of a heads and tails in the flip of a coin are equal to each other. Because the sum must be 1, the probability is 1/2, or 1/6 for a dice. relative frequency approach to probability - ANSWER - >defines probability as the long run frequency in which something occurs. Example: the last 1000 students took a course, 200 got an A. The relative frequency is 20% - estimate of students that will get an A subjective approach to probability - ANSWER - >the probability is obtained on the basis of personal judgement; often the only method of
assigning likelihood to an outcome; educated guess based on knowledge available union of two events - ANSWER - >Given by the outcomes that belong either to one or to both events. calculate conditional Probability - ANSWER - >P (A1/B2) Complement Probability - ANSWER - >event that occurs when A does not occur. P(A) + P(Ac) = 1 multiplication rule - ANSWER - >To determine the probability, we multiply the probability of one event by the probability of another. Addition Rule of Probability - ANSWER - >P(A or B) = P(A) + P(B) - P(AB) standard error - ANSWER - >the standard deviation of a sampling distribution Complement of an event - ANSWER - >