QMB 3200 BLISS EXAM 2 WITH COMPLETE QUESTIONS AND ANSWERS
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QMB 3200
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QMB 3200
QMB 3200 BLISS EXAM 2 WITH COMPLETE QUESTIONS AND ANSWERS QMB 3200 BLISS EXAM 2 WITH COMPLETE QUESTIONS AND ANSWERS QMB 3200 BLISS EXAM 2 WITH COMPLETE QUESTIONS AND ANSWERS A Population? - ANSWER-consists of all items of interest in a statistical problem.
Statistics involve: Descriptive statist...
QMB 3200 BLISS EXAM 2 WITH
COMPLETE QUESTIONS AND
ANSWERS
A Population? - ANSWER-consists of all items of interest in a statistical problem.
Statistics involve: Descriptive statistics which is? - ANSWER-describing the data,
usually in a tabular or graphical format.
Statistics Involve: Inferential which is? - ANSWER-using a sample to make a
determination about the population parameters.
A Sample? - ANSWER-is a subset of the population.
- ANSWER-
A sample(statistic) is used to: - ANSWER-make inferences about a unknown population
parameter.
A good (random) sample is: - ANSWER-a sample that is representative of the
population without bias. Also known as probability samples.
BIAS refers to: - ANSWER-the tendency of a sample statistic to systematically over or
under estimate a population parameter.
Selection bias refers to: - ANSWER-a systematic exclusion of certain groups from
consideration for the sample.
Nonresponse bias refers to: - ANSWER-a systematic difference in preferences between
respondents and non-respondents to a survey or a poll.
Symbols: u - ANSWER-is the mean for the population
Symbols: σ - ANSWER-is the standard deviation of the population
Symbols: p - ANSWER-is the true proportion of the population
Symbols: x ̅ - ANSWER-is the sample mean
Symbols: s - ANSWER-is the sample standard deviation
Symbols: p ̅ - ANSWER-is the proportion for the sample
, Symbols: N (for x ̅) - ANSWER-the population size
Symbols: n (for x ̅) - ANSWER-the sample size
Sampling is used to: - ANSWER-make inferences about these parameters.
In regards to sampling, Two primary areas of interest are: - ANSWER-population means
and population proportions.
The key point to sampling is: - ANSWER-it makes an inference about a population.
Sampling Methods: Using Excel - ANSWER-a Random Number generator method
(RAND) and then sort from either low to high, or high to low, and this will give you a
sample without replacement.
Sampling Methods: cluster sampling - ANSWER-the population is first divided up into
mutually exclusive and collectively exhaustive groups, called clusters. A cluster sample
includes observations from randomly selected clusters.
Sampling Methods: stratified random sampling - ANSWER-the population is first divided
up into mutually exclusive and collectively exhaustive groups, called strata. A stratified
sample includes randomly selected observations from each stratum. The number of
observations per stratum is proportional to the stratum's size in the population. The data
for each stratum are eventually pooled.
Selecting a Sample: finite population - ANSWER-A finite population has limits and you
can develop a list of all possible elements in the population.
Examples of a finite population: - ANSWER-They are often defined by list such as:
Organization membership roster, Credit card account numbers, and Inventory product
numbers.
Simple random sample of size n from a finite population of size N is a... - ANSWER-
sample selected such that each possible sample of n has the same probability of being
selected.
Selecting a Sample: infinite population. - ANSWER-An infinite population is excessively
large, or continually changing and there is no limit to the elements that can be
generated. We must select a random sample in order to make a valid statistical
inferences about the population which the sample is taken.
example of a infinite sample - ANSWER-population of the USA
A random sample from a infinite population is a.... - ANSWER-sample selected such
that the following conditions are satisfied:
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