describe the difference between a random error and an assignable cause. which cause would result in producing the type 1 error for a control chart?
In any process as an instance suppose in a production process , some error must be happened, Generally this error can be classified into two major parts, one is random error and other is assignable cause. The name of these error already give some idea about itself.
Random error : In any ongoing process, some types of error happened completely random way we cannot identify those error. This error are termed as Random Error.
Assignable cause : In the process , some error are happened due to lack of some man made issue like defective raw material , faulty equipment , negligence of operators etc These cause are non-random and can be identifiable and as well as can eliminated. this error known as Assignable Cause.
Assignable causes would result in producing type 1 error for control charts
describe the difference between a random error and an assignable cause. which cause would result in...
Non-random (or assignable cause) variation found in the process of an output is usually caused or created by: A. 1. Countless minor factors B. 2. Defective equipment C. 3. Human labor issues D. 1& 3 E. 2 & 3
Describe the difference between a protective put and a straddle. In which situation would the straddle result in a higher profit?
Describe the difference between growth that occurs as a result of an increase in inputs and growth that occurs as a result of an increase in output per input.
Part A. What is the difference between bias and random error in forecasting? Random errors refer to short term and bias to long term Random errors refer to long term and bias to short term Random errors are smaller than bias errors Bias errors are consistently in the same direction while random errors are not Part B. Which of the following is NOT true about forecasting? It is good practice to include a measure of expected forecast error with any...
Describe an example of a business problem which would require a power regression. Describe the difference between dummy variables and moderating effects Describe one similarity and one difference between logit and neural networks
Describe the difference between the logarithmic and Box-Cox transformations for streamflow modelling – which one would you prefer and why?
1. Which of the following demonstrates a Type I Error? A. A researcher obtains a significant result and rejects the null hypothesis when the result is actually due to random chance and sampling error. B. A researcher obtains a significant result and fails to reject the null hypothesis when the result is actually due to random chance and sampling error. C. A researcher obtains a nonsignificant result and rejects the null hypothesis when the result is actually due to a...
Describe the difference between a defined benefit pension fund and a defined contribution pension fund. Describe the difference between an insured pension and a noninsured pension fund What type of financial institutions would administer of these?
Which of the following is not an error that would cause the trial balance to become unequal? a.Balance entered in wrong column of account b.Column incorrectly added c.The debit part of an entry posted to the wrong account as a debit d.Debit is posted as a credit, or vice versa
Explain the difference between ‘sampling bias and ‘sampling error’, and a how a researcher would decrease sampling error and sampling bias. Explain why reducing each is important for testing a hypothesis.