BUSA 2100 Midterm Exam Questions and Correct Answers Already Passed
5 views 0 purchase
Course
BUSA 2100
Institution
BUSA 2100
BUSA 2100 Midterm Exam Questions and Correct Answers Already Passed
A marketing manager instructs his team to make 80 telephone calls to attempt to sell an insurance policy. The random variable in this experiment is the number of sales made. This random variable is a _____. - Answer- discrete ran...
BUSA 2100 Midterm Exam
Questions and Correct
Answers Already Passed
A marketing manager instructs his team to make 80 telephone calls to attempt to sell an
insurance policy. The random variable in this experiment is the number of sales made.
This random variable is a _____. - Answer- discrete random variable
Highway patrol officers measure the speed of automobiles on a highway using radar
equipment. The random variable in this experiment is speed, measured in miles per
hour. This random variable is a _____. - Answer- continuous random variable
The weight of an object, measured to the nearest gram, is an example of _____. -
Answer- a discrete random variable
Which of the following is a required condition for a discrete probability function? -
Answer- ∑f(x) = 1
A measure of the average value of a random variable is called a(n) _____. - Answer-
expected value
The mean of the distribution can be negative, zero, or positive. - Answer- True
The standard deviation must be 1. - Answer- True
The distribution is symmetrical. - Answer- True
The mean, median, and mode are equal. - Answer- True
The highest point of a normal curve occurs at _____. - Answer- the mean
If the mean of a normal distribution is negative, _____. - Answer- the median and mode
must also be negative
A standard normal distribution is a normal distribution with _____. - Answer- a mean of
0 and a standard deviation of 1
, For a standard normal distribution, a negative value of z indicates _____. - Answer- the
z is to the left of the mean
For the standard normal probability distribution, the area to the left of the mean is
_____. - Answer- 0.5
For a standard normal distribution, the probability of z ≤ 0 is _____. - Answer- .5
Assume z is a standard normal random variable. Then P(1.20 ≤ z ≤ 1.85) equals _____.
- Answer- .0829
Assume z is a standard normal random variable. Then P(z ≥ 2.11) equals _____. -
Answer- .0174
What is the value of z if the area to the right of z is .9803? - Answer- -2.06
What is the basis for using a normal probability distribution to approximate the sampling
distribution of x̄ and σ? - Answer- the central limit theorem
What is the standard deviation of x̄ referred to as? - Answer- standard error of the mean
What is used to estimate the value of the population parameter? - Answer- sample
statistic
What is a probability sampling method in which we randomly select one of the first k
elements and then select every kth element thereafter? - Answer- systematic sampling
What is the standard deviation of a point estimator? - Answer- standard error
When should the finite correction factor be used in the computation of σ? - Answer-
when n/N is greater than .05
What is a simple random sample? - Answer- a sample selected such that each possible
sample of size n has the same probability of being selected
How many different samples of size 3 (without replacement) can be taken from a finite
population of size 10? - Answer- 120
What is stratified random sampling? - Answer- Sampling technique where the
population is divided into subgroups.
What is judgment sampling? - Answer- Sampling technique based on the researcher's
judgment.
When is the sampling distribution normally distributed? - Answer- For any sample size.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Scholarsstudyguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
