This Section contains Multiple Choice Questions MCQs on Probability and probability distribution, Correlation Analysis, Simple Regression Analysis, Multiple Regression Analysis, Coefficient of Determination (Explained Variation), Unexplained Variation, Model Selection Criteria, Model Assumptions, Interpretation of results, Intercept, Slope, Partial Correlation, Significance tests, OLS Assumptions, Multicollinearity, Heteroscedasticity, Autocorrelation etc. Lets start
Q1: Which of the following is not a correct statement about a probability
A) It must have a value between 0 and 1
B) It can be reported as a decimal or a fraction
C) A value near 0 means that the event is not likely to occur/happens
D) It is the collection of several experiments
Q2: The collection of one or more outcomes from an experiment is called
C) Random Variable
E) Random Experiment
Q4: In which approach to probability the outcomes are equally likely to occur?
Q5: In special rule of addition of probability, the events are always
A) Independent Events
B) Mutually Exclusive Events
Q6: The joint probability is
A) The likelihood of two events happening together
B) The likelihood of an event happening given that another event has already happened
C) Based on two mutually exclusive events
D) Also called Prior probability
Q7: The the special rule of multiplication of probability, the events must be
Q8: A listing of the possible outcomes of an experiment and their corresponding probability is called
A) Random Variable
B) Contingency table
C) Bayesian Table
D) Probability Distribution
E) Frequency Distribution
Q9: Which of the following is not an example of a discrete probability distribution?
A) The sale or purchase price of a house
B) The number of bedrooms in a house
C) The number of bathrooms in a house
D) Whether or not a home has a swimming pool in it
Q10: Which of the following is not a condition of the binomial distribution?
A) Only 2 possible outcomes
B) have constant probability of success
C) Must have at least 3 trials
D) trials must be independent
Q11: In a Poisson probability distribution
A) The mean and variance of the distribution are same (equal)
B) The probability of success is always greater than 5
C) The number of trials is always less than 5
D) It always contains a contingency table
Q12: If a card is chosen from a standard deck of cards, what is the probability of getting a five or a seven?
Q13: If you roll a pair of dice, what is the probability that (at least) one of the dice is a 4 or the sum of the dice is 7?
Q14: If a card is chosen from a standard deck of cards, what is the probability of getting a diamond (♦) or a club(♣)?
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Probability and Probability Distribution I