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BANA 3363 - SHSU, Prof. Hegwood - Final Exam Review(update)questions and answers
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BANA 3363 - SHSU, Prof. Hegwood - Final Exam Review(update)questions and answers
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BANA 3363 - SHSU, Prof. Hegwood -Final Exam Review(update)questions
and answers
We usually can calculate the value of a parameter, while we are unable to calculate the value of a
statistic. - correct answer ✔✔False
A sample is the group of all subjects of interest to a researcher. - correct answer ✔✔False
A firm has invented a new smartphone whose average battery life is unknown. In order to estimate this
average, 40 phones are randomly selected from a large production line and tested; their average battery
life is calculated to be 28 hours. The battery lives of all of the smart phones produced (and not just the
40 selected) is the: - correct answer ✔✔Population
What is the variance of the following sample data: {3, 4, 9, 15, 18}? - correct answer ✔✔43.7
The mean is a measure of variability. - correct answer ✔✔False
If a sample of size 50 has a sample mean of 20, then the sum of all observations in the sample is 1,000. -
correct answer ✔✔True
σ (sigma) is a population parameter and s is a sample statistic. - correct answer ✔✔True
A university employs 2,500 faculty and staff. To ascertain their employees' opinions of a proposed
retirement plan, 250 employees are surveyed at random. The proportion of the 250 employees who
favor the retirement plan represents a parameter in this scenario. - correct answer ✔✔False
In statistics, a population is the group of all items of interest. - correct answer ✔✔True
,A manufacturer has developed a new type of light bulb whose average lifetime is unknown. In order to
estimate this average, 200 light bulbs are randomly selected from a large production line and tested;
their average lifetime is found to be 5 years. The lives of the 200 light bulbs represent a: - correct answer
✔✔Sample
Margerie has been keeping track of what she spends to eat out. The last week's expenditures for meals
eaten out were $5.69, $5.95, $6.19, $10.91, $7.49, $14.53, and $7.66. The mean amount Margerie spent
on those meals is $8.35. - correct answer ✔✔True
The units for the variance are the same as the units for the original data (for example, feet, inches, etc.).
- correct answer ✔✔False
A large news organization commissions a survey to gauge the attitudes of the roughly 250 million U.S.
citizens of voting age. The survey indicates that 63% of the 8,000 registered voters interviewed do not
approve of the current president's economic plan. The parameter is: - correct answer ✔✔the proportion
of all registered voters who do not approve of the president's economic plan.
A graduate student at SHSU wants to estimate the proportion of first-year students who were first-
generation college students last year at SHSU. He randomly chooses 100 students from last year and
calculates that 45.6% were first-generation college students. The sample of interest to the researcher is: -
correct answer ✔✔the 100 SHSU students who the researcher randomly chose.
Which of the following represents a population, as opposed to a sample? - correct answer ✔✔All
registered voters in the State of Michigan.
Given that Z is a standard normal random variable, a negative value of Z indicates that the standard
deviation of Z is negative. - correct answer ✔✔False
X is a normal variable with mean of -13 and variance of 37. What is the z-statistic when x = 46? - correct
answer ✔✔9.70 ± 5%
A graduate student at SHSU wants to estimate the proportion of first-year students who were first-
generation college students last year at SHSU. He randomly chooses 100 students from last year and
calculates that 45.6% were first-generation college students. The sample statistic is: - correct answer
, ✔✔the proportion of the randomly chosen 100 SHSU students who were first-generation college
students.
The standard error of the mean: - correct answer ✔✔All of these choices are true.
We usually can calculate the value of a statistic, while we are unable to calculate the value of a
parameter. - correct answer ✔✔True
As the size of the sample is increased, increases. - correct answer ✔✔False
Suppose X is a random variable that has a normal distribution. You are told that the standard deviation
of X is 9 and while its mean is 23. When x = -27, what is is the corresponding z-statistic? - correct answer
✔✔-5.56 ± 5%
(mu) is a sample statistic and (x-bar) is a population parameter. - correct answer ✔✔False
What is P(Z>-1.52)? - correct answer ✔✔0.9357
X is a normal variable with mean of 2 and standard deviation of 12. What is the z-statistic when x = -13? -
correct answer ✔✔-1.25 ± 5%
What z-statistic has a right-tailed probability of 97.5%? - correct answer ✔✔-1.96
A sample of size n is selected at random from an infinite population. As n increases, which of the
following statements is not true? - correct answer ✔✔The standard error of the sample mean increases.
A graduate student at SHSU wants to estimate the proportion of first-year students who were first-
generation college students last year at SHSU. He randomly chooses 100 students from last year and
calculates that 45.6% were first-generation college students. The population of interest to the researcher
is: - correct answer ✔✔all SHSU students enrolled last year.
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