A Statistical Technique That Describes Two or More Variables Simultaneously

question 138

Multiple Choice

A statistical technique that describes two or more variables simultaneously and results in tables that reflect the joint distribution of two or more variables that have a limited number of categories or distinct values is a ________.

• A) t test
• B) cross-tabulation
• C) parametric test
• D) non-parametric test

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Definitions:

Hybrid Models

Combines two or more different modeling techniques to gain the benefits of each, often used in forecasting and predictions.

Shadow Price

A monetary value assigned to currently unpriced goods or services, reflecting the opportunity cost of reallocating resources.

Objective Function

A mathematical function used in optimization to express the goal of the decision-making problem, often maximizing or minimizing some quantity.

Constraint

A Constraint refers to a limitation or restriction on the variables of an optimization problem, often defining the permissible solutions in mathematical modeling and decision-making processes.