Choose the correct statement with regard to the given distributions: a. Poisson: If mean is u, standard deviation will beu b. Exponential: If mean is u, standard deviation will be c. Standard Normal distribution: If mean is 0, standard deviation will be All of the above Answer A B C D
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- What is NOT true about normal distribution? We can expect approximately 99.7% of the possible outcomes to fall within three standard deviations above and below the mean We can expect approximately half of the possible outcomes to be positive and half to be negative We can expect approximately 95% of the possible outcomes to fall within two standard deviations above and below the mean It is completely defined by two numbers: mean and standard deviation It is bell shaped and symmetricWhich of the following is a plot of the distribution function of a normal distribution? (See attached PDF. A. Plot A B. Plot B C. Plot C D. Plot DLet assume that x ̅ ~ N (50, 2) and x ~ N (50, 20), which of the two distributions above will have a narrower spread and why? 1. The population distribution because its standard deviation (2) is smaller than the other (20). 2. Both are same spread because their standard deviations are 50. 3. Both are same spread because their means are 50. 4. The sampling distribution because its standard deviation (2) is smaller than the other (20).
- The random variable X has a uniform distribution with values between the interval 37 to 41. What is the mean and standard deviation of X?Explain or define each of these terms:a. Laplace criterionb. Minimax regretc. Expected valued. Expected value of perfect informationBill Hardgrave, production foreman for the Virginia Fruit Company, estimates that the average sales of oranges is 4,700 and the standard deviation is 500 oranges. Sales follow a normal distribution.a) What is the probability that sales will be greater than 5,500 oranges?b) What is the probability that sales will be greater than 4,500 oranges?c) What is the probability that sales will be less than 4,900 oranges?d) What is the probability that sales will be less than 4,300 oranges?
- Let’s suppose that you have a set of time-series variables, and you want to model the relationship between them. Read the situations given below and answer the questions. (200 words)a) Explain the statistical test if the linear combination (of time-series variables) is I(0).b) Which statistical test can be applied if all the series are integrated of the same order I(1). Justify your answer4.1 TYPES OF RANDOM VARIABLES. Which of the following describe continuous random variables? Which describe discrete random variables? The number of newspapers sold by the New York Times each month The amount of ink used in printing a Sunday edition of the New York Times The actual number of ounces in a 1-gallon bottle of laundry detergent The number of defective parts in a shipment of nuts and bolts The number of people collecting unemployment insurance each monthDiscuss in 300 words the different types of probability sampling designs and briefly explain how these differ from non-probability sampling approaches. Provide at least two relevant references.
- The general meaning of a standard error is best described by which of the following? a. A standard error is another term for the estimated standard deviation of the population. b. If you go out about two standard errors on either side of 0, you can be about 95% confident that the unknown population parameter will be in the resulting interval. c. A standard error is essentially a standard deviation, specifically, the standard deviation of the sampling distribution of the estimate of the population parameter. d. All of these choices are correct characterizations of a typical standard error.Which of the following is NOT true about the distribution function for a normaldistribution?a. It ranges from 0 to 1.b. It increases as the quantity increases.c. It generally has a bell shape when graphed.d. It returns the probability that the outcome from the normal distribution is a certainquantity or lower.The Empirical Rule tells us that … a) __________ of the data lies within 1 standard deviation of the mean b) __________ of the data lies within 2 standard deviation of the mean c) __________ of the data lies within 3 standard deviation of the mean