Scribd Logo
Upload

Welcome to Scribd!

  • 57 views

    Chapter 7 Exercises

    Uploaded by

    Fatbardha Morina
    This document discusses key concepts related to estimating population parameters from sample data, including: 1. Point estimates are single values used to estimate population parameters like the mean, while confidence intervals provide a range of plausible values for the population parameter based on the sample data. 2. Confidence intervals for proportions are based on approximating the binomial with the uniform distribution, while intervals for means use 1.96 standard deviations above and below the sample mean when the population standard deviation is unknown. 3. Sample sizes need to be sufficiently large to estimate population parameters within a desired level of precision or margin of error, with the required sample size increasing as the desired confidence level or precision increases.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Chapter 7 Exercises

    Uploaded by

    Fatbardha Morina
    57 views4 pages
    This document discusses key concepts related to estimating population parameters from sample data, including: 1. Point estimates are single values used to estimate population parameters like the mean, while confidence intervals provide a range of plausible values for the population parameter based on the sample data. 2. Confidence intervals for proportions are based on approximating the binomial with the uniform distribution, while intervals for means use 1.96 standard deviations above and below the sample mean when the population standard deviation is unknown. 3. Sample sizes need to be sufficiently large to estimate population parameters within a desired level of precision or margin of error, with the required sample size increasing as the desired confidence level or precision increases.

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document discusses key concepts related to estimating population parameters from sample data, including: 1. Point estimates are single values used to estimate population parameters like the mean, while confidence intervals provide a range of plausible values for the population parameter based on the sample data. 2. Confidence intervals for proportions are based on approximating the binomial with the uniform distribution, while intervals for means use 1.96 standard deviations above and below the sample mean when the population standard deviation is unknown. 3. Sample sizes need to be sufficiently large to estimate population parameters within a desired level of precision or margin of error, with the required sample size increasing as the desired confidence level or precision increases.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    57 views4 pages

    Chapter 7 Exercises

    Uploaded by

    Fatbardha Morina
    This document discusses key concepts related to estimating population parameters from sample data, including: 1. Point estimates are single values used to estimate population parameters like the mean, while confidence intervals provide a range of plausible values for the population parameter based on the sample data. 2. Confidence intervals for proportions are based on approximating the binomial with the uniform distribution, while intervals for means use 1.96 standard deviations above and below the sample mean when the population standard deviation is unknown. 3. Sample sizes need to be sufficiently large to estimate population parameters within a desired level of precision or margin of error, with the required sample size increasing as the desired confidence level or precision increases.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    1. A point estimate is a single value used to estimate a population parameter.

    2. A confidence interval for a population proportion is based on using the uniform distribution to
    approximate the binomial distribution.

    3. The 95 percent confidence interval states that 95 percent of the sample means of a specified
    sample size selected from a population will lie within plus and minus 1.96 standard deviations of
    the hypothesized population mean.

    4. The t distribution is based on the assumption that the population of interest is normal or nearly
    normal.

    5. The test statistic for a problem involving any sample size and an unknown population standard
    deviation is the z distribution.

    6. The mean number of travel days per year for salespeople employed by hardware distributors
    needs to be estimated with a 0.90 degree of confidence. For a small pilot study the mean was 150
    days and the standard deviation was 14 days. If the population mean is estimated within two
    days, how many salespeople should be sampled?
    A. 134
    B. 452
    C. 511
    D. 2100

    7. A random sample of 85 group leaders and supervisors revealed that they worked an average of
    6.5 years before being promoted. The population standard deviation was 1.7 years. Using the
    0.95 degree of confidence, what is the confidence interval for the population mean?
    A. 6.99 and 7.99
    B. 4.15 and 7.15
    C. 6.14 and 6.86
    D. 6.49 and 7.49

    8. A bank wishes to estimate the mean credit card balance owed by its customers. The population
    standard deviation is estimated to be $300. If a 98 percent confidence interval is used and an
    interval of $75 is desired, how many customers should be sampled?
    A. 44
    B. 212
    C. 629
    D. 87
    9. Which of the following would be used as a point estimate for the population mean ( µ )?
    A. 
    B.
    C.
    D. s

    10. Which statement(s) is/are correct about the t distribution?


    A. Mean = 0
    B. Symmetric
    C. Based on degrees of freedom
    D. All of these are correct

    11. A random sample of 20 items is selected from a population. To determine the appropriate
    critical t-value what number of degrees of freedom should be used?
    A. 20
    B. 19
    C. 21
    D. 25

    12. Which of the following is NOT necessary to determine how large a sample to select from a
    population?
    A. Level of confidence in estimating the population parameter
    B. Size of the population
    C. Maximum allowable error in estimating the population parameter
    D. Estimate of the population variation

    13. A sample mean is the best point estimate of


    A. the population standard deviation
    B. the population median
    C. the population mean
    D. the sample standard deviation

    14. A random sample of 42 college graduates revealed that they worked an average of 5.5 years
    on the job before being promoted. The sample standard deviation was 1.1 years. Using the 0.99
    degree of confidence, what is the confidence interval for the population mean?
    A. 5.04 and 5.96
    B. 5.06 and 5.94
    C. 2.67 and 8.33
    D. 4.40 and 6.60
    15. A local retail company wants to estimate the mean amount spent. Their budget limits the
    number of surveys to 225. What is their maximum error of the estimated mean amount spent for
    a 99% level of confidence and an estimated standard deviation of $10.00?
    A. $10
    B. $1.00
    C. 1%
    D. $1.72

    15. A survey of an urban university (population of 25,450) showed that 870 of 1100 students
    sampled supported a fee increase to fund improvements to the student recreation center. Using
    the 95% level of confidence, what is the confidence interval for the proportion of students
    supporting the fee increase?
    A. [0.767, 0.814]
    B. [0.759, 0.822]
    C. [0.771, 0.811]
    D. [0.714, 0.866]

    16. Assuming a population standard deviation of 3 hours, what is the required sample size if the
    error should be less than ½ hour with a 99% level of confidence?
    A. 196
    B. 240
    C. 15
    D. 16

    CHAPTER 7

    Exercises 7-1

    11 pg 379

    12 pg 379

    17 pg 380

    Exercises 7-2

    3 pg 387

    11 pg 387
    Exercises 7-3

    1 pg 395

    9 pg 396

    Exercises 7-4

    3 pg 404

    8 pg 404

    You might also like