BANA2081 MODULE 11 EXAMINATION QUESTIONS WITH ALL CORRECT ANSWERS
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Course
BANA2081
Institution
BANA2081
BANA2081 MODULE 11 EXAMINATION QUESTIONS WITH ALL CORRECT ANSWERS
Chapter 9's primary focus is - Answer-hypothesis tests
The company identified in Chapter 9, Statistics in Practice is - Answer-John Morrell & Company
The Statistics in Practice example in Chapter 9 identifies an application c...
BANA208 MODULE 9 TEST BANK
QUESTIONS WITH 100% CORRECT
DETAILED ANSWERS
As the sample size becomes larger, the sampling distribution of the sample mean
approaches a - Answer-Normal distribution
Random samples of size 49 are taken from an infinite population whose mean and
standard deviation are 240 and 21, respectively. The distribution of the population is
unknown. Find the mean and the standard error of the mean. - Answer-240 and 3
A population has a mean of 400 and a standard deviation of 25. A sample of 100
observations will be taken. Find the probability that the sample mean will be greater
than 401. - Answer-0.3446
In computing the standard error of the mean, the finite population correction factor is
used when - Answer-n/N > 0.05
A population has a standard deviation of 5. If a sample of size 25 is selected from this
population, what is the probability that the sample mean will be within ±2 of the
population mean? - Answer-0.9545
As the sample size increases, the - Answer-standard error of the mean decreases
The probability distribution of all possible values of the sample proportion p bar is the -
Answer-sampling distribution of p bar
As a rule of thumb, the sampling distribution of the sample proportions can be
approximated by a normal probability distribution whenever - Answer-np ≥ 5 and n(1 - p)
≥5
Random samples of size 200 are taken from an infinite population whose population
proportion is 0.8. Find the standard deviation of the sample proportions (i.e., the
standard error of the proportion). - Answer-
A sample of 400 observations will be taken from an infinite population. The population
proportion equals 0.8. Find the probability that the sample proportion will be greater
than 0.74. - Answer-
A sample of 56 observations will be taken from an infinite population. The population
proportion equals 0.85. Find the probability that the sample proportion will be between
0.8227 and 0.8531. - Answer-
In a local university, 67% of the students live in the dormitories. A random sample of 70
students is selected for a particular study. We know that the standard error of the
proportion is 0.0562. Find the probability that the sample proportion (the proportion
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