ECON940 - Statistics for Decision Making
Mid-Session Sample Questions
Identify the letter of the choice that best completes the statement or
answers the question. Place your answer on computer marking sheet
Penny Bauer, Chief Financial Officer of Harrison
Chapter 16
Time-Series Forecasting and
Index Numbers
Learning Objectives
Identify the four possible components of time-series
data
Understand how to use time-series smoothing
methods
Understand how to estimate least squares trendbased forecasting model
Chapter 10
Statistical Inferences about
Two Populations
Learning Objectives
Test hypotheses and construct confidence intervals
for the difference between two population means
when population variances are known
Test hypotheses and construct confidence i
Chapter 14
Multiple Regression Analysis
Learning Objectives
Develop a multiple regression model using computer
software
Understand and apply significance tests of the
regression model and its coefficients
Compute and interpret residuals, the standard e
Chapter 8
Statistical Inference: Estimation
for Single Populations
Learning Objectives
Estimate a population mean from a sample mean when the
population standard deviation is known
Estimate a population mean from a sample mean when the
population standa
Chapter 7
Sampling and Sampling
Distributions
Learning Objectives
Determine when to use sampling instead of a
census
Distinguish between various random and
nonrandom sampling techniques and know how
to use them
Be aware of the different types of errors
Chapter 9
Statistical Inference:
Hypothesis Testing for Single
Populations
Learning Objectives
Explain the logic involved in hypothesis testing and
be able to establish null and alternate hypotheses
Implement the 6 step approach to test hypotheses
Perf
Chapter 2
Charts and Graphs
Prepared by Dr. Amir Arjomandi
University of Wollongong
LearningObjectives
Recognise the difference between grouped
and ungrouped data
Construct a frequency distribution
Construct a histogram, a frequency polygon,
an ogive, a p
Chapter 3
Descriptive Statistics
Prepared by Dr. Amir Arjomandi
University of Wollongong
LearningObjectives
Distinguish between measures of central
tendency, measures of variability, measures
of shape, and measures of association
Understand the meanings o
Chapter 5
Discrete
Distributions
LearningObjectives
understand the concept of a random
variable and distinguish between
discrete and continuous random variables
determine the mean and variance of a
discrete random variable
identify the type of situations
Introduction:
The Australian based manufacturing organization which is a market pioneer in fashion industry
in Australian market wanted to offer new product line to its customers. In order to do that,
Research and Development (R&D) branch of the organizat