What are the Chances of it Happening?

Question 1

Assuming data follows a normal distribution, we expect what % of observations to lie within 1 standard deviation of the mean?

Answer 1

68%

Question 2

Assuming data follows a normal distribution, we expect what % of observations to lie within 1.96 standard deviations of the mean?

Answer 2

95%

Question 3

What are the names given to non-normal distributions?

Answer 3

Negative skew

Positive skew

Question 4

In a negative skew, the peak goes towards..?

Answer 4

Towards the right

Question 5

In a positive skew, the peak goes towards…?

Answer 5

Towards the left

Question 6

What are the two classes in which data can be grouped in?

Answer 6

Qualitative, dichotomous

Quantitative, continuous

Question 7

When do you reject the Null hypothesis?

Answer 7

When p = 0.05, which is statistically significant

Question 8

What is a Type I error?

Answer 8

When the null hypothesis is true but you reject it

Question 9

What is a Type II error?

Answer 9

When the null hypothesis is false but you accept it