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MKT 3356.002 Anand TTU Final Exam Prep Questions & Answers.
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MKT 3356.002 Anand TTU Final Exam Prep Questions & Answers.MKT 3356.002 Anand TTU Final Exam Prep Questions & Answers.
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MKT 3356.002 Anand TTU Final Exam Prep Questions& Answers.
(1) Standard error of sample mean increases with sample size?
True or False? - Correct answer FALSE
A larger sample size means more results
Standard error will decrease the bigger the sample size
(2) Use the following sample to answer questions 2 through 5: 4, 8, 10, 8, 12, and 6
What is the sample mean?
a. 2
b. 4
c. 6
d. 8
e. 10 - Correct answer d. 8
(Add 4+8+10+8+12+6)
You get 48
Divide 48 by 6 and get 8
(3) Use the following sample to answer questions 2 through 5: 4, 8, 10, 8, 12, and 6
What is the sample median and mode, respectively?
a. 2 and 4
b. 4 and 6
c. 8 and 8
d. 7 and 8
e. 8 and 10 - Correct answer
(4) Use the following sample to answer questions 2 through 5: 4, 8, 10, 8, 12, and 6
What is the standard error of the sample mean if the sample variance is 8?
a. 0.15
b. 1.15
c. 2.15
d. 3.15 - Correct answer Standard Error of Sample Mean = Sample Standard
Deviation / Square Root of Sample Size (In this case its 6)
St. Deviation = Square Root of 8
Sample Size = 6
Square Root of 8 / Square Root of 6 = 1.15
, b. 1.15
(5) Use the following sample to answer questions 2 through 5: 4, 8, 10, 8, 12, and 6
What is the closest lower and upper limits of 95% confidence interval estimates of true
population mean 𝜇? (Round to the nearest tenth). Use Z=2.6 for 99% confidence, Z=2
for 95% confidence, Z=1.7 for 90% confidence.
a. The lower and upper limits of a 95 percent confidence interval for 𝜇 is 5.7 and 10.3,
respectively.
b. The lower and upper limits of a 95 percent confidence interval for 𝜇 is 5.1 and 9.1,
respectively.
c. The lower and upper limits of a 95 percent confidence interval for 𝜇 is 6.7 and 11.3,
respectively.
d. The lower and upper limits of a 95 percent confidence interval for 𝜇 is 4.6 and 8.2,
respectively.
e. The lower and upper limits of a 95 percent confidence interval for 𝜇 is 8.9 and 11.1,
respectively. - Correct answer Confidence Interval Estimate
Sample Mean +-[Z-Score * (Standard Deviation) / (Square Root of Sample Size)]
8+-[2*(Sq. Root of 8/Sq. Root of 8)]
8+-[2*.15]
8+-2.30
a. The lower and upper limits of a 95 percent confidence interval for 𝜇 is 5.7 and 10.3,
respectively.
(6) The analysis of association between two nominally scaled (categorical) variables is
called
a. Correlation analysis
b. Chi-square
c. T-test
d. Regression analysis - Correct answer b. Chi-square
(7) You conduct a hypothesis test and you find that the p-value is 0.078. What is the
maximum confidence with which you would reject the null hypothesis?
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