Exam 9: Confidence Intervals
Exam 1: An Introduction to Business Statistics and Analytics98 Questions
Exam 2: Descriptive Statistics and Analytics: Tabular and Graphical Methods120 Questions
Exam 3: Descriptive Statistics and Analytics: Numerical Methods145 Questions
Exam 4: Probability and Probability Models150 Questions
Exam 5: Predictive Analytics I: Trees, K-Nearest Neighbors, Naive Bayes,101 Questions
Exam 6: Discrete Random Variables150 Questions
Exam 7: Continuous Random Variables150 Questions
Exam 8: Sampling Distributions111 Questions
Exam 9: Confidence Intervals149 Questions
Exam 10: Hypothesis Testing150 Questions
Exam 11: Statistical Inferences Based on Two Samples140 Questions
Exam 12: Experimental Design and Analysis of Variance132 Questions
Exam 13: Chi-Square Tests120 Questions
Exam 14: Simple Linear Regression Analysis147 Questions
Exam 15: Multiple Regression and Model Building85 Questions
Exam 16: Predictive Analytics Ii: Logistic Regression, Discriminate Analysis,101 Questions
Exam 17: Time Series Forecasting and Index Numbers161 Questions
Exam 18: Nonparametric Methods103 Questions
Exam 19: Decision Theory90 Questions
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In 2005, 13,000 Internet users were surveyed and asked about their willingness to pay fees for access to websites. Of these, 2,938 were definitely not willing to pay such fees. Construct a 95 percent confidence interval for the proportion definitely unwilling to pay fees.
(Multiple Choice)
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As the significance level α increases, the width of the confidence interval ________.
(Multiple Choice)
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When establishing the confidence interval for the average weight of a cereal box, assume that the population standard deviation is known to be 2 ounces and is normally distributed. Based on a sample, the average weight of a sample of 20 boxes is 16 ounces. The appropriate test statistic to use is ________.
(Multiple Choice)
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A federal bank examiner is interested in estimating the mean outstanding defaulted loans balance of all defaulted loans over the last three years. A random sample of 20 defaulted loans yielded a mean of $67,918 with a standard deviation of $16,552.40. Calculate a 90 percent confidence interval for the mean balance of defaulted loans over the past three years.
(Multiple Choice)
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What sample size is needed to obtain a 95 percent confidence interval for the proportion of fat in meat that is within 3 percent of the true value?
(Multiple Choice)
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When the level of confidence and sample proportion
remain the same, a confidence interval for a population proportion p based on a sample of n = 100 will be ________ a confidence interval for p based on a sample of n = 400.
(Multiple Choice)
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The coffee and soup machine at the local subway station is supposed to fill cups with 6 ounces of soup. Ten cups of soup are bought with results of a mean of 5.93 ounces and a standard deviation of .13 ounces. Construct a 99 percent confidence interval for the true machine-fill amount.
(Multiple Choice)
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If σ is unknown and there is no preliminary sample available to estimate σ, the range divided by four can be utilized to determine an estimate of σ when finding sample size.
(True/False)
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An insurance company estimates 45 percent of its claims have errors. The insurance company wants to estimate with 99 percent confidence the proportion of claims with errors. What sample size is needed if they wish to be within 5 percent of the actual?
(Multiple Choice)
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A sample of 2,000 people yielded
= .52. What is the variance of the population proportion?
(Multiple Choice)
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A company is interested in estimating μ, the mean number of days of sick leave taken by its employees. Their statistician randomly selects 100 personnel files and notes the number of sick days taken by each employee. The sample mean is 12.2 days, and the sample standard deviation is 10 days. Calculate a 95 percent confidence interval for μ.
(Short Answer)
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The state highway department is studying traffic patterns on one of the busiest highways in the state. As part of the study, the department needs to estimate the average number of vehicles that pass an intersection each day. A random sample of 64 days gives us a sample mean of 14,205 cars and a sample standard deviation of 1,010 cars. What is the 98 percent confidence interval estimate of μ, the mean number of cars passing the intersection?
(Short Answer)
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A sample of 2,000 people yielded
=.52. Calculate a 99 percent confidence interval for p.
(Multiple Choice)
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You want to estimate the proportion of customers who are satisfied with their experiences at a local supermarket at α = .10 and within .025 of the true value. It has been estimated that p =.85. How large of a sample is needed?
(Multiple Choice)
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The state agriculture department tested 203 fuel samples across the state in 2009 for accuracy of the reported octane level. For premium grade, 14 out of 105 samples failed. Find a 99 percent confidence interval for the true population proportion of premium grade fuel-quality failures.
(Multiple Choice)
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A statistical quality control process for cereal production measures the weight of a cereal box. The population standard deviation is known to be .06 ounces. In order to achieve 97 percent confidence with a margin of error of .02 ounces, how large a sample should be used?
(Multiple Choice)
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Assuming the same level of significance α, as the sample size increases, the value of tα/2 ________ approaches the value of zα/2.
(Multiple Choice)
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When constructing a confidence interval for a population mean, if a population is normally distributed and a small sample is taken, then the distribution of
is based on ________.
(Multiple Choice)
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