08/03/2022, 20:57 Assignment - 2: Attempt review

Started on Tuesday, 8 March 2022, 8:06 PM

State Finished
Completed on Tuesday, 8 March 2022, 8:56 PM
Time taken 50 mins 1 sec
Grade 14.50 out of 15.00 (97%)

Question 1

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In hypothesis testing we need to define first;

Select one:
a. Null and alternate hypothesis
b. Type of error
c. Level of significance
d. Sample size

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Question 2

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Consumer Price Index is

Select one:
a. an index that is designed to measure changes in production levels over time.
b. a weighted aggregate price index where the weight for each item is its current-period quantity.
c. a weighted aggregate price index where the weight for each item is its last-period quantity.
d. an index that is designed to measure changes in quantities over time.

Question 3

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In hypothesis testing, what is the assumption about null hypothesis?

Select one:

a. Null hypothesis cannot be rejected.
b. Null hypothesis is true
c. Null hypothesis is always true
d. Null hypothesis is false

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Question 4

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Static simulation is generally referred as

Select one:
a. Monte carlo
b. continuous
c. stochastic
d. deterministic

Question 5

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In hypothesis testing, to conduct comparison of means of two random samples whether, both come from two different population or same,
null hypothesis can be framed as; 
Select one:
a. m1≠m2
b. m1=m2
c. m1≤m2
d. m1≥m2

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Question 6

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A weighted aggregate price index where the weight for each item is its base-period quantity is known as the

Select one:
a. weight index
b. Laspeyres
c. Paasche
d. Quantity index

Question 7

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The price relative is a price index that is determined by

Select one:

a. (price in period t + base period price)(100)
b. (price in period t)(100)
c. (base period price/price in period t)(100)
d. (price in period t/base period price)(100)

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Question 8

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In hypothesis testing, to conduct comparison of mean μ1 of random sample (from population 1) is more often than mean μ2 of random
sample (from population 2) whether, both come from two different population or same population, alternate hypothesis can be framed as;

Select one:
a. m1>m2
b. m1≥m2
c. m1≤m2
d. m1<m2

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Question 9

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In the following example, null and alternative hypotheses are written as.

Ho: sample mean ≤ 150

Ha: sample mean > 150

Select a statement which holds true.

Select one:
A. Null and alternative hypotheses are rightly set to conduct testing.
B. Null and alternative hypotheses are not mutually exclusive.
C. Null and alternative hypotheses not set for population parameter.
D. Null and alternative hypotheses not collectively exhaustive.

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Question 10

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In hypothesis testing, to conduct comparison of mean μ1 of random sample (from population 1) is more often than mean μ2 of random
sample (from population 2) whether, both come from two different population or same population, null hypothesis can be framed as;

Select one:
a. m1<m2
b. m1>m2
c. m1≤m2
d. m1≥m2

Question 11

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Number of steps required in Monte Carlo simulation 

Select one:
a. 5
b. 4
c. 6
d. 3

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Question 12

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Simulation is used when

Select one:
a. project is very complicated
b. project is risky
c. All of the alternatives are correct.
d. there is huge cost involved

Question 13

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A price index for a given item which is computed by dividing a current unit price by a base-period unit price and multiplying the result by 100
is known as the 
Select one:
a. Producer price index
b. Paasche index
c. Price relative
d. Consumer price index

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Question 14

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In the following example, null and alternative hypotheses are written as.

Ho: µ = 10

Ha: μ ≠ 10

Select a statement which holds true.

Select one:
A. Test is two tail test.
B. Test is left tail test
C. Test is one tail test
D. Test is no tail test

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Question 15

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In hypothesis testing, comparison of means of two random samples is conducted whether, both come from two different population or
same. Suppose standard deviation σ1 and σ2 are known, α= .05, then what could be the critical z value;

Select one:
a. -1.96 and 1.96
b. -1.28 and 1.28
c. -2.58 and 2.58
d. -2.33 and 2.33

Question 16

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A major drawback of the aggregate price index is that 

Select one:
a. it is computed by using the values from a single time series or based on a single product
b. it is difficult to compute
c. it does not take into account the fact that some items in the market basket are purchased more frequently than others.
d. percentage comparisons cannot be made to the base year.

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Question 17

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The uncontrollable inputs in simulation are

Select one:
a. both daily demand and variable lead time
b. none of these
c. variable lead time
d. daily demand

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Question 18

Complete
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In the following example, null and alternative hypotheses are written as.

Ho: µ≤ 10

Ha: μ > 10

Select a statement which holds true.

Select one:
A. Test is two tail test.
B. Test is left tail test
C. Test is one tail test
D. Test is no tail test

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Question 19

Complete
Mark 0.00 out of 0.50

In hypothesis testing, to conduct comparison of mean μ1 of random sample (from population 1) is more often than mean μ2 of random
sample (from population 2) whether, both come from two different population or same population. Suppose standard deviation σ1 and σ2
are known, α= .01, then what could be the critical z value;

Select one:
a. 1.28
b. 2.33
c. -2.58
d. -1.96

Question 20

Complete
Mark 0.50 out of 0.50

In hypothesis testing, to conduct comparison of means of two random samples whether, both come from two different population or same,

alternate hypothesis can be framed as;

Select one:
a. m1≠m2
b. m1=m2
c. m1≤m2
d. m1≥m2

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Question 21

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Since a(n) ____________ index employs the base-period quantities in all succeeding periods, it allows for ready comparisons for identical
quantities of goods purchased between the base period and all succeeding periods

Select one:
a. Paasche
b. Laspeyres
c. aggregate
d. simple

Question 22

Complete
Mark 0.50 out of 0.50

In hypothesis testing, comparison of means of two random samples is conducted whether, both come from two different population or
same. Suppose standard deviation σ1 and σ2 are known, α = .01, then what could be the critical z value;

Select one:
a. -1.28 and 1.28
b. -2.33 and 2.33
c. -2.58 and 2.58
d. -1.96 and 1.96

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Question 23

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Select statement which holds true for a statistical hypothesis;

Select one:
a. Statistical hypothesis is any random statement made by researcher.
b. Statistical hypothesis is a statement about sample.
c. Statistical hypothesis is a generalized statement about sample statistics.
d. Statistical hypothesis is a generalized statement about population parameter.

Question 24

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Monte Carlo simulation can be applied to which models

Select one:

a. All of the alternatives are correct.
b. service times
c. times between failures
d. number of employees absent

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Question 25

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The greatest strength of simulation is

Select one:
a. none of these
b. to validate the model
c. to achieve goal
d. to answer what if questions

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Question 26

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In the following example, null and alternative hypotheses are written as.

Ho:  µ≤ 10

Ha:  μ > 10

Select a statement which holds true.

Select one:
A. Null and alternative hypotheses are same.
B. Null and alternative hypotheses are mutually exclusive
C. Null and alternative hypotheses not right
D. Null and alternative hypotheses cannot be tested
E.

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Question 27

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The controllable inputs in simulation are

Select one:
a. both order quantity and reorder points
b. none of these
c. reorder points
d. order quantity

Question 28

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A simple index is obtained by dividing the current value of a time series by the value of a time series in the _____________ time period and by
multiplying this ratio by 100. 
Select one:
a. shortest
b. base
c. current
d. final

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Question 29

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The important characteristics of random numbers is

Select one:
a. All of the alternatives are correct.
b. the routine must be fast
c. random numbers should be replicable
d. the routine should have sufficiently long cycle

Question 30

Complete
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A monthly price index that uses the price changes in consumer goods and services for measuring the changes in consumer prices over time
is known as the 
Select one:
a. Consumer Price Index
b. Producer Price Index
c. Paasche Index
d. Laspeyres Index

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