(QMB3200) Quantitative Business Tools II:
Exam 1 Questions And Answers
If an interval estimate is said to be constructed at the 90%
confidence level, the confidence coefficient would be _____. -
correct answer ✅0.9 (90%)
The mean of the t distribution is _____. -
correct answer ✅zero (0)
The use of the normal probability distribution as an approximation
of the sampling distribution of p̄ is based on the condition that
both np and n(1 - p) equal or exceed _____. -
correct answer ✅Five (5)
We can reduce the margin of error in an interval estimate of p by
doing any of the following EXCEPT _____. -
correct answer ✅using a planning value p* closer to 0.5
The probability that the interval estimation procedure will generate
an interval that contains the actual value of the population
parameter being estimated is the _____. -
correct answer ✅Confidence Coefficient
, (QMB3200) Quantitative Business Tools II:
Exam 1 Questions And Answers
(The confidence level stated as a proportion, rather than as a
percentage. The higher the Coefficient, the more certain you are
the results are accurate).
An interval estimate is used to estimate _____. -
correct answer ✅Population Parameter
(The mean and variance of a population are population
parameters.)
As the degrees of freedom increase, the t distribution approaches
the ________________. -
correct answer ✅Normal Distribution
(A normal distribution shows that data near the mean are more
frequent in occurrence than data far from the mean).
As the sample size increases, the margin of error _____. -
correct answer ✅Decreases
Exam 1 Questions And Answers
If an interval estimate is said to be constructed at the 90%
confidence level, the confidence coefficient would be _____. -
correct answer ✅0.9 (90%)
The mean of the t distribution is _____. -
correct answer ✅zero (0)
The use of the normal probability distribution as an approximation
of the sampling distribution of p̄ is based on the condition that
both np and n(1 - p) equal or exceed _____. -
correct answer ✅Five (5)
We can reduce the margin of error in an interval estimate of p by
doing any of the following EXCEPT _____. -
correct answer ✅using a planning value p* closer to 0.5
The probability that the interval estimation procedure will generate
an interval that contains the actual value of the population
parameter being estimated is the _____. -
correct answer ✅Confidence Coefficient
, (QMB3200) Quantitative Business Tools II:
Exam 1 Questions And Answers
(The confidence level stated as a proportion, rather than as a
percentage. The higher the Coefficient, the more certain you are
the results are accurate).
An interval estimate is used to estimate _____. -
correct answer ✅Population Parameter
(The mean and variance of a population are population
parameters.)
As the degrees of freedom increase, the t distribution approaches
the ________________. -
correct answer ✅Normal Distribution
(A normal distribution shows that data near the mean are more
frequent in occurrence than data far from the mean).
As the sample size increases, the margin of error _____. -
correct answer ✅Decreases
