Diagnostic Test: Statistics and Probability

Front

What is the definition of probability?

Back

Probability is a measure of the likelihood that an event will occur, expressed as a number between 0 and 1.

Front

What is a confidence level in statistics?

Back

A confidence level is the percentage of times that a statistical result would fall within a specified range if the same study were repeated multiple times.

Front

What is the formula for calculating simple interest?

Back

Simple Interest = Principal × Rate × Time.

Front

How do you determine the number of combinations of a set?

Back

The number of combinations of a set can be calculated using the formula: C(n, r) = n! / (r!(n-r)!), where n is the total number of items, and r is the number of items to choose.

Front

What is the difference between descriptive and inferential statistics?

Back

Descriptive statistics summarize and describe the characteristics of a data set, while inferential statistics use a random sample of data to make inferences about a larger population.

Front

What is a margin of error?

Back

Margin of error is a statistic expressing the amount of random sampling error in a survey's results, indicating the range within which the true value lies.

Front

What is a z-score?

Back

A z-score indicates how many standard deviations an element is from the mean of a data set.

Front

How do you calculate the mean of a data set?

Back

Mean = (Sum of all data points) / (Number of data points).

Front

What is the purpose of a hypothesis test?

Back

A hypothesis test is used to determine whether there is enough statistical evidence in a sample of data to infer that a certain condition holds for the entire population.

Front

What is the significance of a 95% confidence interval?

Back

A 95% confidence interval means that if the same population were sampled multiple times, approximately 95% of the calculated intervals would contain the true population parameter.