QMB 3200 Final Exam Study Guide |Verified Questions with
Correct Answers Graded A+
Excel's ______ function can be used to compute the sample standard deviation
STDEV.S
The mean of the sample is
computed by summing all the data values and dividing the sum by the number of items
symbol that represents the size of population
N
The variance of a sample or population cannot be
Negative
Symbol representing the size of sample
n
symbol representing standard deviation of a population
σ
symbol representing variance of a population
σ2
symbol representing mean of a population
μ
symbol representing mean of a sample
x̄
The measure of central location most often reported for annual income and property value data is the
median
correlation coefficient ranges from?
-1 to +1
Excel's _____ function can be used to compute the sample variance.
VAR.S
variance is equal to
, squared value of the standard deviation
Excel's _____ function can be used to compute the mean.
AVERAGE
If the variance of a data set is correctly computed with the formula using n − 1 in the denominator,
which of the following is true?
a. The data set is a population.
b. The data set is a sample.
c. The data set could be either a sample or a population.
d. The data set is from a census.
b. The data set is a sample.
Standard error of the mean decreases
as sample size increases
standard error of the mean value is influenced by the
standard deviation of the population
Standard error of the mean...
measures the variability in the sample means
the probability distribution of all possible values of the sample means called the
sampling distribution of the sample mean
The value of the sample statistic is used to estimate
the value of the population parameter
The standard deviation of a point estimate is
the standard error
The standard deviation of x̄ is referred to as
the standard error of the mean
The finite correction factor should be used in the computation σ x̄ and σȳ when n/N is
greater than .05
The standard deviation of p̄ is referred to as
the standard error of the population
a numerical measure from a population such as a population mean is called a
parameter
Correct Answers Graded A+
Excel's ______ function can be used to compute the sample standard deviation
STDEV.S
The mean of the sample is
computed by summing all the data values and dividing the sum by the number of items
symbol that represents the size of population
N
The variance of a sample or population cannot be
Negative
Symbol representing the size of sample
n
symbol representing standard deviation of a population
σ
symbol representing variance of a population
σ2
symbol representing mean of a population
μ
symbol representing mean of a sample
x̄
The measure of central location most often reported for annual income and property value data is the
median
correlation coefficient ranges from?
-1 to +1
Excel's _____ function can be used to compute the sample variance.
VAR.S
variance is equal to
, squared value of the standard deviation
Excel's _____ function can be used to compute the mean.
AVERAGE
If the variance of a data set is correctly computed with the formula using n − 1 in the denominator,
which of the following is true?
a. The data set is a population.
b. The data set is a sample.
c. The data set could be either a sample or a population.
d. The data set is from a census.
b. The data set is a sample.
Standard error of the mean decreases
as sample size increases
standard error of the mean value is influenced by the
standard deviation of the population
Standard error of the mean...
measures the variability in the sample means
the probability distribution of all possible values of the sample means called the
sampling distribution of the sample mean
The value of the sample statistic is used to estimate
the value of the population parameter
The standard deviation of a point estimate is
the standard error
The standard deviation of x̄ is referred to as
the standard error of the mean
The finite correction factor should be used in the computation σ x̄ and σȳ when n/N is
greater than .05
The standard deviation of p̄ is referred to as
the standard error of the population
a numerical measure from a population such as a population mean is called a
parameter
