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Basic Business Statistics Study Set 2
Exam 7: Sampling Distributions
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Question 121
Short Answer
Instruction 7-2 The mean selling price of new homes in a country town over a year was $115,000.The population standard deviation was $25,000.A random sample of 100 new home sales from this town was taken. -Referring to Instruction 7-2,what is the probability that the sample mean selling price was between $114,000 and $116,000?
Question 122
Multiple Choice
Which of the following is NOT a reason for the need for sampling?
Question 123
Short Answer
Instruction 7-4 According to a survey,only 15% of customers who visited the web site of a major retail store made a purchase.Random samples of size 50 are selected. -Referring to Instruction 7-4,what is the probability that a random sample of 50 will have at least 30% of customers who will make a purchase after visiting the web site?
Question 124
Short Answer
Instruction 7-6 According to an article,19% of the entire Australian population have high-speed access to the Internet.Random samples of size 200 are selected from the Australian population. -Referring to Instruction 7-6,among all the random samples of size 200,90% will have more than ________% who have high-speed access to the Internet.
Question 125
Multiple Choice
The owner of a fish market has an assistant who has determined that the weights of rainbow trout are normally distributed,with mean of 3.2 kilograms and standard deviation of 0.8 kilogram.What percentage of samples of 4 fish will have sample means between 3.0 and 4.0 kilograms?
Question 126
Short Answer
Instruction 7-6 According to an article,19% of the entire Australian population have high-speed access to the Internet.Random samples of size 200 are selected from the Australian population. -Referring to Instruction 7-6,among all the random samples of size 200,________% will have less than 20% who have high-speed access to the Internet.
Question 127
True/False
As the size of the sample is increased,the standard deviation of the sampling distribution of the sample mean for a normally distributed population will stay the same.
Question 128
True/False
The only way one can eliminate sampling error is to take the whole population as the sample.
Question 129
Multiple Choice
Suppose a sample of n = 50 items is drawn 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 = 180 grams and σ = 75 grams.Which of the following is true about the sampling distribution of the sample mean if a sample size of 15 is selected?
Question 130
Short Answer
The amount of pyridoxine (in grams)per multiple vitamin is normally distributed with μ = 110 grams and σ = 25 grams.A sample of 25 vitamins is to be selected.What is the probability that the sample mean will be less than 100 grams?