English Language Tests-Intermediate level''''s archive potx

English Language Tests-Intermediate level's archive Statistical modeling for decision-making 1.. tables published by insurance companies reflect their statistical analysis of the averag

English Language Tests-Intermediate level's archive

Statistical modeling for decision-making

1 Dr Hossein Arsham of the University of Baltimore

explains that in this diverse world of ours, no two things

are exactly the same, and a statistician is interested in

both the differences and the similarities; i.e., both

and patterns

departures

detractions

disorders

distractions

2 The tables published by insurance companies

reflect their statistical analysis of the average life

expectancy of men and women at any given age

actuarial

calculation

demogogic

graduated

3 From these numbers, the insurance companies then

calculate the appropriate for a particular individual to

purchase a given amount of insurance

charges

fees

gratuities

premiums

4 The more widely used descriptive statistical techniques

are: Frequency Distribution, , Boxplot, Scattergrams

and Error Bar plots, and diagnostic plots

Histograms

Holograms

Picograms

Pictograms

5 In examining distribution of data, you should be able to

detect important characteristics, such as shape, location,

variability, and unusual values, and from careful

observations of patterns in data, you can generate

about relationships among variables

conjectures

conjunctions

junctures

juxtapositions

6 The notion of how one variable may be associated with

another almost all of statistics, from simple

comparisons of proportions through linear regression

penetrates

peregrinates

permeates

permutates

7 From the data collection plan, a statistical model can be

formulated from which inferences can be

drawn

implied

penned

sketched

8 As an example of statistical modeling with managerial

implications, such as 'what-if' analysis, regression

analysis

acknowledge

consider

ponder

regard

9 Frequently, for example, the marketing managers are

faced with the question, 'What sample size do I need?' —

this is an important and common statistical decision, which

should be given attention, since an inadequate

sample size invariably leads to wasted resources

all

apt

due

long

10 Your organization database contains a wealth of

information, yet the decision technology group members

can usually only a fraction of it

tap

taste

tell

try