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Advanced Concepts in BAN 280: Chapter 7

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Advanced Concepts in BAN 280: Chapter 7

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Advanced Concepts in BAN 280: Chapter 7

in statistical sampling, parameters are - correct answer ✔✔numerical characteristics of a population



random sample of 64 with SD 100 and 8 respectively. what is the estimate of the standard error? -
correct answer ✔✔1.00



in a random sample, the sampling distribution of the sample mean is the - correct answer ✔✔probability
distribution of the sample mean



the closer the sample mean to the population mean means - correct answer ✔✔the smaller the
standard error



the sample mean can be - correct answer ✔✔smaller, larger, or equal to



the sample sizes increases mean that standard error of the mean.. - correct answer ✔✔shrinks



statistic Sx is the point estimator of - correct answer ✔✔SDx



when n>= 30, the sampling distribution of the x-bar approaches - correct answer ✔✔normal distribution



sample mean is the point estimator of - correct answer ✔✔u



the SD of all possible sample mean values is called the - correct answer ✔✔standard error of the mean



sampling distribution of the sample mean according to the central limit theorem is a normal probability
distribution for - correct answer ✔✔any sample size



sampling error is - correct answer ✔✔the positive difference of (sample mean-population mean)

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