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Applied Business Statistics

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Applied Business Statistics
FINAL Examination 1. The t distribution
 A) assumes the population is normally distributed.
 B) approaches the normal distribution as the sample size increases. C) has more area in the tails than does the normal distribution.
 D) All of the above. 2. Suppose a 95% confidence interval for μ turns out to be (1,000, 2,100). Give a definition of what it means to be "95% confident" in an inference.
 A) In repeated sampling, the population parameter would fall in the given interval 95% of the time. B) In repeated sampling, 95% of the intervals constructed would contain the population mean. 
 C) 95% of the observations in the entire population fall in the given interval. D) 95% of the observations in the sample fall in the given interval. 3. In the construction of confidence intervals, if all other quantities are unchanged, an increase in the sample size will lead to a wider interval.

A) narrower

B) wider 

C) less significant
D) biased 4. An economist is interested in studying the incomes of consumers in a particular region. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in an average income of $15,000. What is the upper end point in a 99% confidence interval for the average income?

A) $15,052

B) $15,141
 See worksheet
C) $15,330

D) $15,364 5. A prison official wants to estimate the proportion of cases of recidivism. Examining the records of 250 convicts, the official determines that there are 65 cases of recidivism. A confidence interval will be obtained for the proportion of cases of recidivism. Part of this calculation includes the estimated standard error of the sample proportion. For this sample, the estimated standard error is 0.28 .
See worksheet 6. Which of the following would be an...

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