QNT 561 Final Exam 2

QNT 561 Final Exam 2 1. A difference between calculating sample mean and population mean is A. Only in symbols, we use instead of µ and n instead of N B. We divide sum of observations by n - 1 instead of n C. observations are ranked and select middle value for population mean D. There are no differences 2. Which of following measures of central location is affected most by extreme values? A. Median B. Mean C. Mode D. Geometric mean 3. Which level of measurement is required for median? A. Nominal B. Ordinal C. Interval D. Ratio 4. In which of following distributions is probability of a success usually small? A. Binomial B. Poisson C. Hyper geometric D. All distribution 5. Which of following is not a requirement of a probability distribution? A. Equally likely probability of a success B. Sum of possible outcomes is 1.00 C. outcomes are mutually exclusive D. probability of each outcome is between 0 and 1 6. Which of following is not a requirement of a binomial distribution? A. A constant probability of success B. Only two possible outcomes C. A fixed number of trails D. Equally likely outcomes 7. A sample A. Is a part of population B. Has more than 30 observations C. Is usually identified as N D. All of above 8. difference between sample mean and population mean is called A. Population mean. B. Population standard deviation C. Standard error of mean D. Sampling error 9. Suppose a population consisted of 20 items. How many different sample of n = 3 are possible? A. 6840 B. 1140 C. 20 D. 120 10. A point estimate is A. Always an estimate of population mean B. Always equal to population value C. An estimate of population parameter D. None of above 11. We wish to develop a confidence interval for population mean. population follows normal distribution, standard deviation of population is 3, and we have a sample of 10 observations. We decide to use 90 percent level of confidence. appropriate value of to represent level of confidence is A. z =1.65 B. z = 1.96 C. t = 1.833 D. t = 1.812 12. A confidence interval A. Always includes population parameter B. Decreases in width as sample size is increased C. Cannot include a value of 0 D. None of above 13. Special Rule of Addition is used to combine A. Independent events B. Mutually exclusive events C. Events that total more than one D. Events based on subjective probabilities 14. We use General Rule of Multiplication to combine A. Events that are not independent B. Mutually exclusive events C. Events that total more than 1.00 D. Events based on subjective probabilities 15. An experiment is a A. Collection of events B. Collection of outcomes C. Always greater than 1