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Statistics Assignment 2

Monte Carlo simulation requires 5 steps. A major drawback of aggregate price indices is that they do not account for differences in purchase frequencies among items. Null and alternative hypotheses in hypothesis testing must be mutually exclusive. Simulation models can be applied to determine the effects of controllable and uncontrollable inputs.

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956 views4 pages

Statistics Assignment 2

Monte Carlo simulation requires 5 steps. A major drawback of aggregate price indices is that they do not account for differences in purchase frequencies among items. Null and alternative hypotheses in hypothesis testing must be mutually exclusive. Simulation models can be applied to determine the effects of controllable and uncontrollable inputs.

Uploaded by

anand sanil
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Number of steps required in Monte Carlo simulation

A major drawback of the aggregate price index is that

it does not take into account the fact that some items in the market basket are purchased more frequently
than others.

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.

Null and alternative hypotheses not set for population parameter.

The price relative is a price index that is determined by

(price in period t/base period price)(100)

In the following example, null and alternative hypotheses are written as.
Ho: μ≤ 10
Ha: μ > 10
Select a statement which holds true.

Null and alternative hypotheses are mutually exclusive

In the following example, null and alternative hypotheses are written as.
Ho: μ≤ 11
Ha: μ > 10
Select a statement which holds true.

Null and alternative hypotheses are not mutually exclusive.

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;

m1>m2

In hypothesis testing we need to define first;

Null and alternate hypothesis

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;

m1≤m2

The uncontrollable inputs in simulation are


both daily demand and variable lead time

In the following example, null and alternative hypotheses are written as.
Ho: μ≤ 10
Ha: μ > 10
Select a statement which holds true.

Test is one tail test

Consumer Price Index is

a weighted aggregate price index where the weight for each item is its current-period quantity.

The important characteristics of random numbers is

All of the alternatives are correct.

Monte Carlo simulation can be applied to which models

All of the alternatives are correct.

The controllable inputs in simulation are

both order quantity and reorder points

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

Price relative

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.

Base

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;

-1.96 and 1.96

Static simulation is generally referred as

Monte carlo

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

Laspeyres
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

Consumer Price Index

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;

m1≠m2

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= .10, then what could be the critical z value;

-1.28 and 1.28

Select statement which holds true for a statistical hypothesis;

Statistical hypothesis is a generalized statement about population parameter.

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;

-2.58 and 2.58

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

Laspeyres

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;

m1=m2

Simulation is used when

All of the alternatives are correct.

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

Null hypothesis is true

The greatest strength of simulation is

to answer what if questions

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;

2.33

In the following example, null and alternative hypotheses are written as.
Ho: μ = 10
Ha: μ ≠ 10
Select a statement which holds true.

Test is two tail test.

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