Risk Management Analyst Interview Questions and Answers

Type 1 and type 2 errors are related to statistical hypothesis testing, while independent and mutually exclusive events are concepts in probability theory.

• Type 1 error occurs when a true null hypothesis is incorrectly rejected, while type 2 error occurs when a false null hypothesis is not rejected.

• Independent events are events where the occurrence of one event does not affect the probability of the other event happening. Mutually exclusive events are events that cannot occur ...read more

Approximately 150 million smartphones are sold in India annually.

• Consider the population of India (approximately 1.3 billion) and the smartphone penetration rate (around 40-45%).

• Look at the sales data of major smartphone manufacturers in India like Xiaomi, Samsung, and Vivo.

• Take into account the growth rate of the smartphone market in India over the past few years.

OLS is a method used to estimate the relationship between one dependent variable and one or more independent variables.

• OLS stands for Ordinary Least Squares.

• It is a method used in regression analysis to estimate the unknown parameters in a linear regression model.

• The goal of OLS is to minimize the sum of the squared differences between the observed values and the values predicted by the model.

• The OLS method calculates the coefficients of the regression equation by finding the...read more