If two samples contain the same number of observations, then the data must be paired. True False Question 2 (2.5 points) Multicollinearity is a situation in which two or more of the explanatory variables are highly correlated with each other. True False Question 3 (2.5 points) The time series component that reflects a wavelike pattern describing a long-term trend that is generally apparent over a number of years is called cyclical. True False The binomial distribution is a discrete distribution that is applied to situations where n independent and identical "trials" occur, with each trial resulting in a "success" or "failure," and we want to generate the random number of successes in the n trials. True False Question 5 (2.5 points) Non-truthful response is a particular problem when: sensitive questions are asked. the sample is from an unusual population. surveys are anonymous. interviewers are not trained. Question 6 (2.5 points) The sampling mean is the estimate for the population mean. point interval simple random Of type I and type II error, which is traditionally regarded as more serious? Type I Type II Type I and Type II are equally serious Neither Type I or Type II is serious and both can be avoided Question 8 (2.5 points) A two-tailed test is one where: results in only one direction can lead to rejection of the null hypothesis negative sample means lead to rejection of the null hypothesis results in either of two directions can lead to rejection of the null hypothesi: no results lead to the rejection of the null hypothesis Question 9 (2.5 points) Outliers are observations that lie outside the typical pattern of points on a scatterplot. disrupt the entire linear trend. lie outside the sample. The linear trend y^i120+2t was estimated using a time series with 20 time periods. The forecasted value for time period 21 is 122160162120 Question 11 (5 points) In using Excel to solve linear programming problems, the target cell represents the: decision variables total cost of the model value of the objective function constraints Question 12 (2.5 points) Rounding the solution of a linear programming to the nearest integer values provides a(n) infeasible solution integer solution that is optimal integer solution that may be neither feasible nor optimal feasible solution that is not necessarily optimal Bidding for contracts is an example of which of the following types of simulation model application? Operations models Financial models Marketing models Games of chance None of these options Question 14 (15 points) The personnel department of a large corporation wants to estimate the family dental expenses of its employees to determine the feasibility of providing a dental insurance plan. A random sample of 12 employees in 2004 reveals the following family dental expenses (in dollars): 115, 370, 250, 93, 540, 225, 177, 425, 318, 182 , 275 , and 228 . The sample mean is A. Construct a 95% confidence interval estimate of the mean family dental expenses for all employees of this corporation. The upper boundary/limit is A and the lower boundary/limit is A . (Please keep two decimal points.) The charitable foundation for a large metropolitan hospital is conducting a study to characterize its donor base. In the past, most donations have come from relatively wealthy individuals; the average annual donor income in the most recent survey was right at $100,000. The foundation believes the average has now increased. A random sample of 200 current donors showed a mean annual income of $103,157 and a standard deviation of $27,498. To perform this study, we should form a null hypothesis stating that the average is A 100,000 . (Please fill in only one of the following: "less than", "less than or equal to", "equal to", "greater than", "greater than or equal to". Please do not use symbols.) At the 10% significant level, the p-value/statistics is A (Please keep three decimal points) so we should A the null hypothesis (Please only fill in "reject" or "not reject".). Hence, we may conclude that the average A increased (Please only fill in "has" or "has not") and the probability that our conclusion is correct is at least A. La Cabaa, a popular motel chain in the southwest, is interested in developing a regression model that can predict the occupancy rate % of its motels. Currently, the company is interested in using two explanatory variables to predict occupancy. They want to use the amount of advertising in $ used by each motel and if the particular location a franchised location. Some regression information is presented below. Sommary meanute Mrgmenion coefficients If we write the linear regression model as Y^=ab1+cX2 where X1 is Advertising. and X2 is Franchise, then from the above information, we can infer that a is A b is, A and ck, A a/ percentage of the variation in the occupancy can be explained by this regression equation. (Please keep two decimal points.) From the p-values, we may conclude that at 5% confidence level, all the coefficients are statistically 4 after refining the regressors. (Please only fill in "significant" or "insignificant".)