Use the Data Given Below to Answer the Following Questions)

question 37

Multiple Choice

Use the data given below to answer the following questions) .
The worldwide sales of cars from 1981-1990 are shown in the table below. Given: α = 0.2 and
β = 0.15 Hint: Use XLMiner) $$\begin{array} { | c | c| } \hline \text { Year } & \begin{array} { c } \text { Units sold in } \\\text { thousands }\end{array} \\\hline 1981 & 888 \\\hline 1982 & 900 \\\hline 1983 & 1000 \\\hline 1984 & 1200 \\\hline 1985 & 1100 \\\hline 1986 & 1300 \\\hline 1987 & 1250 \\\hline 1988 & 1150 \\\hline 1989 & 1100 \\\hline 1990 & 1200 \\\hline\end{array}$$
-Identify the value of the mean square error using double exponential smoothing for the given set of data.

• A) 8.10
• B) 1.80
• C) 91.27
• D) 11976.17

Define cognitive style and its significance in the decision-making process.

Understand the impact of risk aversion on decision making.

Differentiate between various social decision schemes and their effects on group decisions.

Recognize the role and assumptions of intuition in the decision-making process.

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Definitions:

Alpha

A predetermined threshold in hypothesis testing that defines the probability of making a Type I Error, usually set at 0.05, indicating a 5% risk of false positive.

Null Hypothesis

A hypothesis that suggests there is no significant difference or effect, serving as a default position until evidence suggests otherwise.

Statistical Significance

A determination that a relationship between variables or a difference between groups is likely not due to chance, based on a predetermined threshold.

Reject

In the context of statistical hypothesis testing, to conclude that the evidence is sufficiently strong to discard the null hypothesis.