QMB 3200 MIDTERM EXAM ACTUAL
EXAM 2 VERSIONS (VERSION A AND B)
COMPLETE ACTUAL EXAM QUESTIONS
WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY
GRADED A+
In computing the standard error of the mean, the finite population correction
factor is not used when:
a. n ≥ 30
b. n/N ≤ 0.05
c. N/n ≤ 0.05
d. n/N > 0.05 - ✔✔b. n/N ≤ 0.05
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,A sample statistic, such as x bar , that estimates the value of the
corresponding population parameter is known as a:
a. population parameter
b. point estimator
c. Both a parameter and a population parameter are correct.
d. parameter - ✔✔b. point estimator
The standard deviation of xbar is referred to as the
a. standard error of the mean
b. standard x
c. sample standard mean
d. sample mean deviation - ✔✔a. standard error of the mean
Which of the following is(are) point estimator(s)?
a. σ
b. μ
c. s
d. All of these answers are correct. - ✔✔c. s
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,A probability distribution for all possible values of a sample statistic is
known as a
a. parameter
b. sample statistic
c. sampling distribution
d. simple random sample - ✔✔c. sampling distribution
A population has a mean of 180 and a standard deviation of 24. A sample
of 64 observations will be taken. The probability that the mean from that
sample will be between 183 and 186 is
a. 0.8185
b. 0.1359
c. 0.4772
d. 0.3413 - ✔✔b. 0.1359
1. st. error: 24/sqrt(64) = 3
2. z value (upper): (186-180)/3 = 2
3. Norm.s.dist(1, true) = .9772
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, 4. z value (lower): (183-180)/3= 1
5.Norm.s.dist(-1,true)= .8413
6. 0.9772-.8413=0.1359
The basis for using a normal probability distribution to approximate the
sampling distribution of xbar and pbar is:
a. the empirical rule
b. the central limit theorem
c. Chebyshev's theorem
d. Bayes' theorem - ✔✔b. the central limit theorem
A finite population correction factor is needed in computing the standard
deviation of the sampling distribution of sample means:
a. whenever the sample size is less than 5% of the population size
b. whenever the population is infinite
c. whenever the sample size is more than 5% of the population size
d. The correction factor is not necessary if the population has a normal
distribution - ✔✔c. whenever the sample size is more than 5% of the
population size
4
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
EXAM 2 VERSIONS (VERSION A AND B)
COMPLETE ACTUAL EXAM QUESTIONS
WITH DETAILED VERIFIED ANSWERS
(100% CORRECT ANSWERS) /ALREADY
GRADED A+
In computing the standard error of the mean, the finite population correction
factor is not used when:
a. n ≥ 30
b. n/N ≤ 0.05
c. N/n ≤ 0.05
d. n/N > 0.05 - ✔✔b. n/N ≤ 0.05
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,A sample statistic, such as x bar , that estimates the value of the
corresponding population parameter is known as a:
a. population parameter
b. point estimator
c. Both a parameter and a population parameter are correct.
d. parameter - ✔✔b. point estimator
The standard deviation of xbar is referred to as the
a. standard error of the mean
b. standard x
c. sample standard mean
d. sample mean deviation - ✔✔a. standard error of the mean
Which of the following is(are) point estimator(s)?
a. σ
b. μ
c. s
d. All of these answers are correct. - ✔✔c. s
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
,A probability distribution for all possible values of a sample statistic is
known as a
a. parameter
b. sample statistic
c. sampling distribution
d. simple random sample - ✔✔c. sampling distribution
A population has a mean of 180 and a standard deviation of 24. A sample
of 64 observations will be taken. The probability that the mean from that
sample will be between 183 and 186 is
a. 0.8185
b. 0.1359
c. 0.4772
d. 0.3413 - ✔✔b. 0.1359
1. st. error: 24/sqrt(64) = 3
2. z value (upper): (186-180)/3 = 2
3. Norm.s.dist(1, true) = .9772
3
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, 4. z value (lower): (183-180)/3= 1
5.Norm.s.dist(-1,true)= .8413
6. 0.9772-.8413=0.1359
The basis for using a normal probability distribution to approximate the
sampling distribution of xbar and pbar is:
a. the empirical rule
b. the central limit theorem
c. Chebyshev's theorem
d. Bayes' theorem - ✔✔b. the central limit theorem
A finite population correction factor is needed in computing the standard
deviation of the sampling distribution of sample means:
a. whenever the sample size is less than 5% of the population size
b. whenever the population is infinite
c. whenever the sample size is more than 5% of the population size
d. The correction factor is not necessary if the population has a normal
distribution - ✔✔c. whenever the sample size is more than 5% of the
population size
4
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
