Bana 3363 study questions - Study guides, Class notes & Summaries

BANA 3363 Study Questions with Correct Answers As the sample size increases: - Answer-the standard error of the mean decreases. Inferential statistics can estimate: - Answer-the population mean, based on the sample mean. The standard deviation is a measure describing: - Answer-the variability of data. If sampling is done correctly, the mean of sampling distribution is: - Answer-always equal to the population mean. The margin of error for a confidence interval is larger if: - Answer-...

BANA 3363 Study Questions with Correct Answers As the sample size increases: - Answer-the standard error of the mean decreases. Inferential statistics can estimate: - Answer-the population mean, based on the sample mean. The standard deviation is a measure describing: - Answer-the variability of data. If sampling is done correctly, the mean of sampling distribution is: - Answer-always equal to the population mean. The margin of error for a confidence interval is larger if: - Answe...

BANA 3363 Set 2 Exam Questions with Correct Answers A confidence interval is a range of values within which we are confident (based on the method used to calculate the interval) that the actual value of a population parameter (such as μ, the population mean) will fall. - Answer-True Values from the standard normal (Z) distribution are used most often in practice to form confidence intervals for means because even though the population mean, µ, is unknown, the population standard deviatio...

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...

BANA 3363 SET 2 EXAM QUESTIONS WITH CORRECT ANSWERS UPDATED!!! How does hypothesis testing differ from constructing confidence intervals, in general? Read carefully. - Answer-A hypothesis test examines the evidence in the data for a specified value or "guess" of the parameter chosen by the researcher, while a confidence interval gives a range of "reasonable" values for the parameter based on the data. A researcher wants to study sports-watching behavior of young men. In a random ...