QMB 3200 FINAL EXAM PREP TEST BANK

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QMB 3200 FINAL EXAM PREP TEST BANK

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In regression analysis, the equation in the form y = �0 + �1x + ε is called the - ANSWER-Regression model.

In regression analysis, the variable that is being predicted is the - ANSWER- dependent variable.

A 95% confidence interval for a population mean is determined to be 100 to 120. If the confidence coefficient is reduced to 0.90, the interval for μ

• becomes wider
• does not change
• becomes 0.1
• becomes narrower - ANSWER-d. becomes narrower

As the sample size increases, the margin of error

• increases
• decreases
• stays the same
• None of the other answers are correct. - ANSWER-b. decreases
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pg. 2 Sampling Distribution of p ̅. - ANSWER-The sampling distribution of p ̅ is the probability distribution of all possible values of the sample proportion p ̅.

Expected value of p ̅ is - ANSWER-E(p ̅) = p

Standard deviation of p ̅ - ANSWER-σp ̅=√(p(1-p)/n)

A population has a mean of 53 and a standard deviation of 21. A sample of 49 observations will be taken. The probability that the sample mean will be greater than 57.95 is

• 0
• .0495
• .4505
• None of the alternative answers is correct. - ANSWER-b. .0495
• 21/sqrt(49)=3

2. 57.93-53=4.95

3. 4.95/3 = 1.65

4.norm.s.dist(1.65,true) = .9505

5. 1-.9505= .0495

The population that you want to make inferences about when sampling is the

• Sample population
• Inferenced sample
• Target population 2 / 4

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• Judgmental sample - ANSWER-c. Target population

A random sample of 25 employees of a local company has been measured. A 95% confidence interval estimate for the mean systolic blood pressure for all company employees is 123 to 139. Which of the following statements is valid?

• If the sampling procedure were repeated many times, 95% of the sample means

would be between 123 and 139.

• If the sampling procedure were repeated many times, 95% of the resulting

confidence intervals would contain the population mean systolic blood pressure.

• 95% of the population of employees has a systolic blood pressure between 123

and 139.

• 95% of the sample of employees has a systolic blood pressure between 123 and
• - ANSWER-b. If the sampling procedure were repeated many times, 95% of

the resulting confidence intervals would contain the population mean systolic blood pressure.

For the interval estimation of μ when σ is assumed known, the proper distribution to use is the

• t distribution with n − 2 degrees of freedom
• t distribution with n degrees of freedom
• t distribution with n − 1 degrees of freedom
• standard normal distribution - ANSWER-d. standard normal distribution

From a population that is normally distributed with an unknown standard deviation, a sample of 25 elements is selected. For the interval estimation of μ, the proper distribution to use is the

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• standard normal distribution
• z distribution
• t distribution with 24 degrees of freedom
• t distribution with 26 degrees of freedom - ANSWER-c. t distribution with 24

degrees of freedom

If an interval estimate is said to be constructed at the 90% confidence level, the confidence coefficient would be

• 0.95
• 0.05
• 0.1
• 0.9 - ANSWER-d. 0.9

In computing the standard error of the mean, the finite population correction factor

is not used when:

• n ≥ 30
• n/N ≤ 0.05
• N/n ≤ 0.05
• n/N > 0.05 - ANSWER-b. n/N ≤ 0.05

A sample statistic, such as x bar , that estimates the value of the corresponding

population parameter is known as a:

• population parameter
• point estimator
• Both a parameter and a population parameter are correct.
• parameter - ANSWER-b. point estimator
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