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| Section | Objectives |
|---|---|
| Topic 1: Regression and Modeling | - Linear Relationships
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| Topic 2: Probability Theory | - Fundamental Probability Concepts
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| Topic 3: Descriptive Statistics | - Single Variable Data Analysis
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| Topic 4: Statistical Inference | - Estimation and Confidence Intervals
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>> Applied-Probability-and-Statistics Prep Guide <<
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NEW QUESTION # 77
Poisson used for:
Answer: A
Explanation:
The Poisson distribution is used to model counts of events occurring within a fixed interval of time, space, area, or volume, especially when the events are relatively rare and occur at a constant average rate. Examples include the number of calls received per hour, accidents per month, defects per batch, or arrivals at a service counter per minute. Its parameter # represents the average number of events per interval. Option B describes the binomial distribution, which models the number of successes in a fixed number of independent success
/failure trials. Option C is incorrect because Poisson outcomes are discrete counts, not continuous measurements. Option D is also incorrect because categorical data classify observations into groups, while Poisson data count event occurrences. The phrase "rare events per interval" is the defining clue for the Poisson model. Study Guide references/topics: Poisson distribution, rare-event counts, # parameter, discrete probability models.
NEW QUESTION # 78
Standard error decreases when:
Answer: C
Explanation:
The standard error of the sample mean is calculated as SE = s/#n, where s is the sample standard deviation and n is the sample size. Since n appears in the denominator, increasing the sample size reduces the standard error, assuming the standard deviation stays constant. This reflects the fact that larger samples produce more stable estimates of the population mean. Option B is incorrect because decreasing sample size increases standard error. Option C is incorrect because a larger standard deviation increases standard error by increasing the numerator. Option D is incorrect because the mean affects the center of the distribution but does not directly determine the standard error. Standard error is about precision: smaller standard error means less sampling variability and a more precise estimate. That is why larger samples are preferred in inference. Study Guide references/topics: standard error, sample size, standard deviation, sampling variability.
NEW QUESTION # 79
Probability of heads on 3 coin flips exactly twice?
Answer: A
Explanation:
This is a binomial probability problem because there is a fixed number of independent trials, each trial has two outcomes, and the probability of success is constant. Let success be flipping heads. There are 3 coin flips, and the probability of heads on each flip is 1/2. The event "exactly two heads" can occur in three ordered ways: HHT, HTH, and THH. Each sequence has probability (1/2)(1/2)(1/2) = 1/8. Since there are three favorable sequences, the total probability is 3 × 1/8 = 3/8. Equivalently, use the binomial formula: C(3,2)(1/2)