Intro to Statistics- Final Exam Questions With Complete Solutions

Explain what we mean by a confidence level (exp. 95%) correct answer: The percentage of intervals, based on all possible samples of the same size taken from the same population, that contain the parameter. For example, if we construct 100 95% confidence intervals using 100 samples of the same size, approximately 95 of the intervals will contain the true parameter and 5 will not. A point estimate is the value of a _________ that estimates the value of a ____________ correct answer: statistic, parameter What are the two desirable characteristics of an ideal confidence interval? correct answer: narrow and high confidence level What is the best point estimate for the population proportion? correct answer: p hat Type I error correct answer: reject Ho when Ho is true Type II error correct answer: do not reject Ho when Ho is false statistically significant correct answer: observed results are unlikely under the assumption that the null hypothesis is true random variable correct answer: assignment of numerical values to all outcomes of a probability experiment sampling distribution correct answer: a probability distribution for all possible values of a statistic Two events E and F are independent if correct answer: occurrence of event E does not affect the probability of event F in the same experiment T or F: the empirical probability of an event E may change experiment to experiment correct answer: True