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Statistics
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Basic Business Statistics
Exam 8: Sampling Methods and the Central Limit Theorem
Path 4
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Question 61
True/False
We can expect some difference between sample statistics and the corresponding population parameters.This difference is called the sampling error.
Question 62
Multiple Choice
What is the difference between a sample mean and the population mean called?
Question 63
True/False
A sampling distribution of the means is a probability distribution consisting of a list of all possible sample means of a given sample size selected from a population and the probability of occurrence associated with each sample mean.
Question 64
Multiple Choice
The mean weight of trucks traveling on a particular section of I-475 is not known.A state highway inspector needs an estimate of the mean.He selects a random sample of 49 trucks passing the weighing station and finds the mean is 15.8 tons,with a standard deviation of the sample of 4.2 tons.What is probability that a truck will weigh less than 14.3 tons?
Question 65
True/False
The Central Limit Theorem states that for a sufficiently large sample the sampling distribution of the means of all possible samples of size n generated from the population will be approximately normally distributed with the mean of the sampling distribution equal to
σ
\sigma
σ
2
and the variance equal to
σ
\sigma
σ
2/
n
.
Question 66
Short Answer
As the sample size (n)increases,what happens to the spread or dispersion of the distribution of the sample means? ___________
Question 67
Short Answer
What is a characteristic of a population called? _______________
Question 68
True/False
Based on the sampling distribution of the means and the central limit theorem,the sample mean can be used as a good estimator of the population mean,assuming that the size of the sample is sufficiently large.