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Basic Business Statistics
Exam 7: Sampling and Sampling Distributions
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Question 141
Short Answer
TABLE 7-3 The mean selling price of new homes in a small town over a year was $115,000. The population standard deviation was $25,000. A random sample of 100 new home sales from this city was taken. -Referring to Table 7-3, what is the probability that the sample mean selling price was between $114,000 and $116,000?
Question 142
Multiple Choice
At US Data Corporation's website, they advertised that "Because of our commitment to quality and our vast amount of industry knowledge and experience, we have grown to be one of America's leading providers of mailing lists, marketing data, sales leads and research data. We maintain databases of information on consumers and businesses nationwide that set industry standards for mission critical currency, reliability and accuracy." Trying to reach 500 potential donors for their annual phone donation campaign, a local fire department purchased a list of donors from the company. This list is an example of a
Question 143
Multiple Choice
Suppose a sample of n = 50 items is selected from a population of manufactured products and the weight, X, of each item is recorded. Prior experience has shown that the weight has a probability distribution with μ = 6 ounces and σ = 2.5 ounces. Which of the following is true about the sampling distribution of the sample mean if a sample of size 15 is selected?
Question 144
Multiple Choice
At a computer manufacturing company, the actual size of computer chips is normally distributed with a mean of 1 centimeter and a standard deviation of 0.1 centimeter. A random sample of 12 computer chips is taken. What is the standard error for the sample mean?
Question 145
True/False
If the population distribution is unknown, in most cases the sampling distribution of the mean can be approximated by the normal distribution if the samples contain at least 30 observations.
Question 146
Essay
TABLE 7-6 According to an article, 19% of the entire population in a developing country have high-speed access to the Internet. Random samples of size 200 are selected from the country's population. -Referring to Table 7-6, among all the random samples of size 200, ________ % will have less than 20% who have high-speed access to the Internet.
Question 147
Essay
TABLE 7-5 According to a survey, only 15% of customers who visited the website of a major retail store made a purchase. Random samples of size 50 are selected. -Referring to Table 7-5, 90% of the samples will have more than what percentage of customers who will make a purchase after visiting the website?
Question 148
True/False
The amount of bleach a machine pours into bottles has a mean of 36 oz. with a standard deviation of 0.15 oz. Suppose we take a random sample of 36 bottles filled by this machine. The sampling distribution of the sample mean has a standard error of 0.15.
Question 149
Multiple Choice
Which of the following yields a systematic sample?
Question 150
Short Answer
A manufacturer of power tools claims that the mean amount of time required to assemble their top-of-the-line table saw is 80 minutes with a standard deviation of 40 minutes. Suppose a random sample of 64 purchasers of this table saw is taken. The probability that the sample mean will be between 77 and 89 minutes is ________.
Question 151
True/False
The question: "Have you used any form of illicit drugs over the past 2 months?" will most likely result in measurement error if the question is answered.
Question 152
True/False
If the amount of gasoline purchased per car at a large service station has a population mean of 15 gallons and a population standard deviation of 4 gallons, then 99.73% of all cars will purchase between 3 and 27 gallons.