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Business
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Research Methods and Methodology in Finance and Accounting
Quiz 7: Probability and Hypothesis Testing
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Question 41
Essay
Identify when it would be appropriate to use a parametric versus a nonparametric test.
Question 42
Multiple Choice
_____ are most often used with interval or ratio data whereas _____ are most often used with ordinal or nominal data.
Question 43
Multiple Choice
In a recent study, researchers concluded that exercise significantly lowered stress levels. What the researchers were unaware of, however, was that several of the participants in the exercise group were also taking anti-anxiety medications. The researchers' conclusion is a(n) _____ error.
Question 44
Short Answer
If weight in the general population is normally distributed with an average of 160 pounds and a standard deviation of 20 pounds, what is the probability of selecting someone who weighs 120 or less or 170 or more pounds?
Question 45
Essay
Explain the difference between the null hypothesis and the alternative hypothesis in a study.
Question 46
Short Answer
Imagine that I have a jar that contains 20 black poker chips and 40 red poker chips. What is the probability of selecting a red poker chip followed by a black poker chip?
Question 47
Essay
What are inferential statistics and how do they differ from descriptive statistics?
Question 48
Essay
If a researcher decides to use the 0.01 level of significance rather than using the more conventional 0.05 level of significance, what type of error is more likely to be made? Why?
Question 49
Multiple Choice
Failing to reject H
0
when we should have rejected it is a _____ error.
Question 50
Essay
Explain how Type I and Type II errors are related to false alarms and misses.
Question 51
Multiple Choice
Rejecting H
0
when we should have failed to reject it is a _____ error.
Question 52
Short Answer
Imagine that I have a jar that contains20 black poker chips and 40 red poker chips. What is the probability of selecting a red poker chip or a black poker chip?
Question 53
Short Answer
If weight in the general population is normally distributed with an average of 160 pounds and a standard deviation of 20 pounds, what is the probability of selecting someone who weighs 170 or more pounds?