Exam (elaborations)
Exam (elaborations) Economics Statistics for Business and Economics
- Course
- Institution
- Book
Recent statistics for business and economics final exam review
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
STA1610 Assignment 1 - 2024 (90% Guaranteed)
-
Statistics 2, Probabilities
-
Statistics for Business and Economics 8th Edition Newbold TEST BANK Latest Update 100% Complete Solution
Seller
Follow
Knowledgekings
Content preview
Sample Final ExamEcon 3790: Statistics for Business and
Economics
Exhibit 8-2
A random sample of 49 automobiles traveling on an interstate showed an average speed of 65 mph and a
standard deviation of 21 mph.
1. Refer to Exhibit 8-2. If we are interested in determining an interval estimate for μ at 95% confidence, you
would look up which table?
a. z
b. t
c. chi
d. F
2. Refer to Exhibit 8-2. The standard error of the mean is
a. 21
b. 3
c. 65
d. None of the above
3. Refer to Exhibit 8-2. The margin of error is
a. 3.03
b. 2.01
c. 6.03
d. None of the above
4. Refer to Exhibit 8-2. The confidence interval estimate is
a. 58.97, 71.03
b. 65, 70
c. 60.97, 72.97
d. None of the above
Exhibit 9-2
n = 64 = 50 S = 16 H0: μ ≥
54 Ha: μ <
54
5. Refer to Exhibit 9-2. The test statistic equals
a. -4
b. -3
c. -2
d. -1
6. Refer to Exhibit 9-2. If the test is done at 95% confidence, the null hypothesis should
a. not be rejected
, b. be rejected
c. Not enough information is given to answer this question.
d. None of these alternatives is correct.
Exhibit 9-5
A random sample of 100 people was taken. Eighty-five of the people in the sample favored Candidate A. We
are interested in determining whether or not the proportion of the population in favor of Candidate A is
significantly more than 80%.
7. Refer to Exhibit 9-5. The test statistic is
a. 0.80
b. 0.05
c. 1.25
d. 2.00
8. Refer to Exhibit 9-5. The p-value is
a. 0.2112
b. 0.05
c. 0.025
d. 0.1056
9. Refer to Exhibit 9-5. At 95% confidence, it can be concluded that the proportion of the population in favor of
candidate A
a. is significantly greater than 80%
b. is not significantly greater than 80%
c. is significantly greater than 85%
d. is not significantly greater than 85%
Exhibit 13-5
Part of an ANOVA table is shown below.
Source of Sum Degrees Mean
of of
Variation Squar Freedo Square F
es m
Treatment 180 3
Error
TOTAL 480 18
10. Refer to Exhibit 13-5. The mean square due to treatment (MSTR) is
a. 20
b. 60
c. 300
d. 15
11. Refer to Exhibit 13-5. The mean square due to error (MSE) is
a. 60
b. 15
c. 300
d. 20
12. Refer to Exhibit 13-5. The test statistic is
a. 2.25
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 Knowledgekings. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
50064 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now