Imagine a Population Consisting of 1,500 Values That Are Normally

question 26

Multiple Choice

Imagine a population consisting of 1,500 values that are normally distributed around a mean of 60, which exhibits a standard deviation of 8. To the closest integer, how many values in the population are greater than 54?

• A) 1,140
• B) 1,150
• C) 1,160
• D) 1,170

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Definitions:

Exponential Smoothing

A time series forecasting method for univariate data that applies smoothing factors to make forecasts.

Smoothing Constant

A parameter used in exponential smoothing forecasting methods to control the rate at which older observations are dampened.

Forecasted Value

A prediction or estimate of a future value based on historical data and analysis.

Indicator Variables

Variables used in statistical models that take a value of 1 to indicate the presence of a particular condition or characteristic and 0 to indicate the absence.