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Business Analytics Exam questions and answers graded A+

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Business Analytics Exam questions and answers graded A+

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Business Analytics Exam questions
and answers graded A+
A confidence interval for the population mean is an interval constructed around the _________. -
ANS✅✅sample mean



When the population is normally distributed, population standard deviation σ is unknown, and the
sample size is n = 15, the confidence interval for the population mean μ is based on ___________. -
ANS✅✅the t distribution



___________ says that if the sample size is sufficiently large, then the sample means are
approximately normally distributed - ANS✅✅the central limit theorem



Based on an output given by Minitab, what is the sample size? - ANS✅✅N (value underneath)



Based on an output given by Minitab, what is the sample mean? - ANS✅✅Mean (value
underneath)



Based on an output given by Minitab, what is the Ha? - ANS✅✅alternative hypothesis (under test)



Based on an output given by Minitab, what is the level of significance? - ANS✅✅% on top of
output (usually 95%, etc)



Based on an output given by Minitab, what is the value of the test statistic? - ANS✅✅the other
value besides P value (usually z value)



Based on an output given by Minitab, what is the p value? - ANS✅✅given!



Based on an output given by Minitab, how do we determine the result of the hypothesis testing? -
ANS✅✅remember the rejection rule!



what is the rejection rule? - ANS✅✅we reject Ho if the p-value < alpha (a)

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