__________ Analysis Involves Making Repeated Changes to Selected Variables Until

question 61

Multiple Choice

__________ analysis involves making repeated changes to selected variables until a chosen variable reaches a target value.

• A) What-if
• B) Sensitivity
• C) Goal-seeking
• D) Optimization

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Definitions:

Nonparametric Tests

Statistical tests that do not assume the data being analyzed follows a particular distribution, often used when data doesn't meet the assumptions of parametric tests.

Z-statistic

A measure that describes how far a data point is from the mean, expressed in units of standard deviation.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is actually true, commonly denoted by alpha and used as a threshold for determining the statistical significance of a result.

Parametric Test

A type of hypothesis test that assumes the sample data comes from a population that fits a certain distribution, typically a normal distribution.