Bana 336 - Study guides, Class notes & Summaries

BANA 3363 EXAM 3 WITH COMPLETE SOLUTIONS A chi-squared distribution is symmetric. - Answer-false The number of degrees of freedom for a contingency table with r rows and c columns is: - Answer-( r - 1)( c - 1) To determine the critical values in the chi-squared distribution table, you need to know the: - Answer-degrees of freedom. The only way the chi-squared test statistic can be zero is if the observed frequencies are all exactly the same as the expected frequencies. - Answer-True...

BANA 3363 TEST QUESTONS WITH REVISED AND UPDATED ANSWERS ALL CORRECT A simple random sample of 10 items resulted in a sample mean of 10. The population standard deviation is 5. Round your answers to two decimal places. a. What is the standard error of the mean, ? b. At 95% confidence, what is the margin of error? - Answer-A. 1.58 b. 3.09 A simple random sample of 60 items resulted in a sample mean of 80. The population standard devidation is 15. A. compute the 95% confidence interval f...

BANA 3363 STUDY QUESTIONS WITH CORRECT ANSWERS The standard deviation is calculated by: - Answer-taking the squared root of the variance. Based on a random sample of 50 Ford trucks, statisticians estimated that the average Ford truck on the American roads has a fuel efficiency of somewhere better 15 & 21 miles per gallon. Assuming the sampling was done correctly, this is a good: - Answer- interval estimate of the population mean for the efficiency of Ford When performing a two tail hypo...