Question 1

A is one that provides a range for anticipating the value of a new observation from the same population.

Accepted Answer

A)  prediction interval 
B)  confidence interval 
C)  t-distribution 
D)  standard normal distribution 
A)  prediction interval 
B)  confidence interval 
C)  t-distribution 
D)  standard normal distribution

Question 2

is based on dividing a population into subgroups, sampling a set of subgroups, and conducting a complete census within the subgroups sampled.

Accepted Answer

A)  Cluster sampling 
B)  Continuous process sampling 
C)  Judgment sampling 
D)  Systematic sampling 
A)  Cluster sampling 
B)  Continuous process sampling 
C)  Judgment sampling 
D)  Systematic sampling

Question 3

A is a range of values between which the value of the population parameter is believed to be, along with a probability that the interval correctly estimates the true population parameter.

Accepted Answer

A)  point estimate 
B)  frequentist interference 
C)  confidence interval 
D)  fiducial inference 
A)  point estimate 
B)  frequentist interference 
C)  confidence interval 
D)  fiducial inference

Question 4

The simple random sampling method is the only statistical sampling method that does not include sampling errors.

Accepted Answer

A) True 
 B)False

Question 5

are statistical errors that are due to the sample not representing the target population adequately.

Accepted Answer

A)  Parallax errors 
B)  Sampling errors 
C)  Nonsampling errors 
D)  Quantization errors 
A)  Parallax errors 
B)  Sampling errors 
C)  Nonsampling errors 
D)  Quantization errors

Question 6

The Ransin Sports Company has noted that the size of individual customer orders is normally distributed with a mean of $112 and a standard deviation of $9. If a soccer team of 11 players were to make the next batch of orders, what would be the standard error of the mean?

Accepted Answer

A)  1.64 
B)  2.71 
C)  3.67 
D)  0.82 
A)  1.64 
B)  2.71 
C)  3.67 
D)  0.82

Question 7

Which of the following sampling methods bases its selection of samples on the ease of data collection?

Accepted Answer

A)  probabilistic sampling 
B)  judgment sampling 
C)  simple random sampling 
D)  convenience sampling 
A)  probabilistic sampling 
B)  judgment sampling 
C)  simple random sampling 
D)  convenience sampling

Question 8

Compare between the t-distribution and the standard normal distribution.

Accepted Answer

The t-distribution is actually a family

Question 9

What is a confidence interval in sampling?

Accepted Answer

Confidence interval estimates provide a

Question 10

Discuss the applications of confidence interval estimation
Use the table below to answer the following question(s).
The historical data of Velvetta Inc., a healthcare products manufacturer, have shown that in a production process for filling bottles of shampoo, variance in the volume is constant; however, clogs in the filling machine often affect the mean volume. The historical standard deviation is 5 milliliters. In filling 250-milliliter bottles, a sample of 20 found a meanvolume of 242 milliliters. $$\begin{array} { | l | l | } 
\hline \text { Velvetta Inc. Shamp o0 } & \
\text { Production } & \
\hline \text { Alpha Vahe } & 0.05 \
\hline \text { Standard Deviation } & 5 \
\hline \text { Sample Size } & 20 \
\hline \text { Sample Mean } & 242 \
\hline
\end{array}$$
-From the table above, calculate the lower confidence interval estimate at a confidence level of 95%

Accepted Answer

A)  239.49 
B)  240.16 
C)  239.81 
D)  240.04 
A)  239.49 
B)  240.16 
C)  239.81 
D)  240.04

Question 11

Which of the following types of sampling involves using random procedures to select a sample?

Accepted Answer

A)  judgment sampling 
B)  probabilistic sampling 
C)  subjective sampling 
D)  convenience sampling 
A)  judgment sampling 
B)  probabilistic sampling 
C)  subjective sampling 
D)  convenience sampling

Question 12

A confidence interval is associated with the sampling distribution of a statistic.

Accepted Answer

A) True 
 B)False

Question 13

As the sample size increases, the width of the confidence interval decreases.

Accepted Answer

A) True 
 B)False

A is one that provides a range for anticipating the value of a new observation from the same population.

is based on dividing a population into subgroups, sampling a set of subgroups, and conducting a complete census within the subgroups sampled.

A is a range of values between which the value of the population parameter is believed to be, along with a probability that the interval correctly estimates the true population parameter.

The simple random sampling method is the only statistical sampling method that does not include sampling errors.

are statistical errors that are due to the sample not representing the target population adequately.

The Ransin Sports Company has noted that the size of individual customer orders is normally distributed with a mean of $112 and a standard deviation of $9. If a soccer team of 11 players were to make the next batch of orders, what would be the standard error of the mean?

Which of the following sampling methods bases its selection of samples on the ease of data collection?

Compare between the t-distribution and the standard normal distribution.

What is a confidence interval in sampling?

Which of the following types of sampling involves using random procedures to select a sample?

A confidence interval is associated with the sampling distribution of a statistic.

As the sample size increases, the width of the confidence interval decreases.

Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Statistical Inference

Trendlines and Regression Analysis

Forecasting Techniques

Introduction to Data Mining

Spreadsheet Modeling and Analysis

Monte Carlo Simulation and Risk Analysis

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Decision Analysis

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Exam 6: Sampling and Estimation

A is one that provides a range for anticipating the value of a new observation from the same population.

is based on dividing a population into subgroups, sampling a set of subgroups, and conducting a complete census within the subgroups sampled.

A is a range of values between which the value of the population parameter is believed to be, along with a probability that the interval correctly estimates the true population parameter.

The simple random sampling method is the only statistical sampling method that does not include sampling errors.

are statistical errors that are due to the sample not representing the target population adequately.

The Ransin Sports Company has noted that the size of individual customer orders is normally distributed with a mean of $112 and a standard deviation of $9. If a soccer team of 11 players were to make the next batch of orders, what would be the standard error of the mean?

Which of the following sampling methods bases its selection of samples on the ease of data collection?

Compare between the t-distribution and the standard normal distribution.

What is a confidence interval in sampling?

Which of the following types of sampling involves using random procedures to select a sample?

A confidence interval is associated with the sampling distribution of a statistic.

As the sample size increases, the width of the confidence interval decreases.

Business Analytics

Analytics on Spreadsheets

Visualizing and Exploring Data

Descriptive Statistical Measures

Probability Distributions and Data Modeling

Statistical Inference

Trendlines and Regression Analysis

Forecasting Techniques

Introduction to Data Mining

Spreadsheet Modeling and Analysis

Monte Carlo Simulation and Risk Analysis

Linear Optimization

Applications of Linear Optimization

Integer Optimization

Decision Analysis

Filters