Exam (elaborations)
UCF QMB 3200 Final Exam Vocab Questions With 100% Correct Answers | Latest Version (2024/2025) Expert Verified
UCF QMB 3200 Final Exam Vocab Questions With 100% Correct Answers | Latest Version (2024/2025) Expert Verified
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UCF QMB 3200
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UCF QMB 3200
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UCF QMB 3200 Final Exam Vocab Questions
With 100% Correct Answers | Latest Version
(2024/2025) Expert Verified
Parameteri-iCorrectiAnswer-
Ainumericalicharacteristiciofiaipopulation,isuchiasiaipopulationimeaniµ,i
aipopulationistandardideviationiσ,iaipopulationiproportionip,iandisoion.
Targetipopulationi-iCorrectiAnswer-
Theipopulationiforiwhichistatisticaliinferencesisuchiasipointiestimatesiar
eimade.iItiisiimportantiforitheitargetipopulationitoicorrespondiasicloselyi
asipossibleitoitheisampledipopulation.
Sampledipopulationi-iCorrectiAnswer-
Theipopulationifromiwhichitheisampleiisitaken.
Samplingidistributioni-iCorrectiAnswer-
Aiprobabilityidistributioniconsistingiofiallipossibleivaluesiofiaisampleista
tistic.
Sampleistatistici-iCorrectiAnswer-
Aisampleicharacteristic,isuchiasiaisampleimeanibar(x),iaisampleistandar
dideviationis,iaisampleiproportionibar(p),iandisoion.iTheivalueiofitheisam
pleistatisticiisiuseditoiestimateitheivalueiofitheicorrespondingipopulatio
niparameter.
, Finiteipopulationicorrectionifactori-iCorrectiAnswer-theitermi√((N-
1)/(n-
1))ithatiisiusediinitheiformulasiforistandardideviationiofixibariandipibariw
heneveriaifiniteipopulation,iratherithanianiinfiniteipopulation,iisibeingis
ampled.itheigenerallyiexpectediruleiofithumbiisitoiignoreithisiwhenin/Ni
≤i.05
Simpleirandomisamplei-iCorrectiAnswer-
AisimpleirandomisampleiofisizeinifromiaifiniteipopulationiofisizeiNiisiaisa
mpleiselectedisuchithatieachipossibleisampleiofisizeinihasitheisameiprob
abilityiofibeingiselected.
Standardierrori-iCorrectiAnswer-
Theistandardideviationiofiaipointiestimator.
Pointiestimatori-iCorrectiAnswer-
Theisampleistatistic,isuchiasibar(x),is,ioribar(p),ithatiprovidesitheipointie
stimateiofitheipopulationiparameter.
Centralilimititheoremi-iCorrectiAnswer-
Aitheoremithatienablesioneitoiuseitheinormaliprobabilityidistributionitoi
approximateitheisamplingidistributioniofibar(x)iwheneveritheisampleisi
zeiisilarge.