BAN 280 Exam 2: Important Topics and Formulas
the standard deviation of the sampling distribution is called the? - correct answer ✔✔the standard error
the statistic 𝑋 ^ -- is the point estimator of? - correct answer ✔✔μ
if we have a normal population, and we draw all samples of size 15 from this population, what shape will
the sampling distribution of sample means be according to the central limit theorem? - correct answer
✔✔normal
the standard error of the mean is _________ smaller than the population standard deviation - correct
answer ✔✔always
for very small sample sizes, the T distribution is - correct answer ✔✔flatter with thicker tails than the
normal distribution
the critical value to construct a 99% confidence interval with σ unknown for a sample size 10 is - correct
answer ✔✔3.250
all else remaining the same, if you decide to increase the sample size what happens to the margin of
errror? - correct answer ✔✔it will be smaller
all else remaining the same, if the sample mean were 15 instead of 12.2, which of the following would
change? - correct answer ✔✔the lower and upper bounds of the interval
which of these would result in a smaller sample size being required to conduct the study provided the
other factors in the study are unchanged? - correct answer ✔✔larger margin of error
You are given that a 99% confidence interval for a population mean is (12, 28). The sample mean used to
construct this confidence interval was - correct answer ✔✔20; all confidence intervals are symmetric
with the sample mean in the middle since we are adding and subtracting the same margin of error from
the sample mean. the midpoint of this interval is 20
the standard deviation of the sampling distribution is called the? - correct answer ✔✔the standard error
the statistic 𝑋 ^ -- is the point estimator of? - correct answer ✔✔μ
if we have a normal population, and we draw all samples of size 15 from this population, what shape will
the sampling distribution of sample means be according to the central limit theorem? - correct answer
✔✔normal
the standard error of the mean is _________ smaller than the population standard deviation - correct
answer ✔✔always
for very small sample sizes, the T distribution is - correct answer ✔✔flatter with thicker tails than the
normal distribution
the critical value to construct a 99% confidence interval with σ unknown for a sample size 10 is - correct
answer ✔✔3.250
all else remaining the same, if you decide to increase the sample size what happens to the margin of
errror? - correct answer ✔✔it will be smaller
all else remaining the same, if the sample mean were 15 instead of 12.2, which of the following would
change? - correct answer ✔✔the lower and upper bounds of the interval
which of these would result in a smaller sample size being required to conduct the study provided the
other factors in the study are unchanged? - correct answer ✔✔larger margin of error
You are given that a 99% confidence interval for a population mean is (12, 28). The sample mean used to
construct this confidence interval was - correct answer ✔✔20; all confidence intervals are symmetric
with the sample mean in the middle since we are adding and subtracting the same margin of error from
the sample mean. the midpoint of this interval is 20
