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BUAL 2650 EXAM 1 QUESTIONS AND ANSWERS

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BUAL 2650 EXAM 1 QUESTIONS AND ANSWERS

Institution
BUAL 2650
Course
BUAL 2650

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BUAL 2650 EXAM 1 LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
What is the level of significance? - ANSWERS-alpha or probability of
error


What is the confidence coefficient? - ANSWERS-the confidence level or
(1-a)


How do you solve for confidence level? - ANSWERS-100 * (1-a) %


What is the sample mean also known as? - ANSWERS-point estimator


If n=100, xbar=50, and standard deviation =2, calculate the confidence
interval for 95%. - ANSWERS-[49.609, 50.392]


If n=100, xbar=50, and standard deviation =2, calculate the confidence
interval for 97%. - ANSWERS-[49.566, 50.434]


How do you find degrees of freedom? - ANSWERS-n-1



END OF
PAGE
1

, BUAL 2650 EXAM 1 LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
What are the two approaches to hypotheses testing? - ANSWERS-
critical value and p-value


What is H0? - ANSWERS-null hypothesis (describes an exciting theory)


What is Ha? - ANSWERS-alternative hypothesis (the complement of
H0)


What is always the 1-3rd step of testing? - ANSWERS-(1) state the H0
and Ha
(2) select level of significance (a)
(3) collect data and test


What is a type 1 error? - ANSWERS-False positive, reject the null when
it's actually true


What is a type 2 error? - ANSWERS-false negative



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