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QMB 3200 Final Exam (3)
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QMB 3200 Final Exam (3)
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QMB 3200 Final ExamExcel's ______ function can be used to compute the sample standard deviation -
ANS-STDEV.S
The mean of the sample is - ANS-computed by summing all the data values and
dividing the sum by the number of items
symbol that represents the size of population - ANS-N
The variance of a sample or population cannot be - ANS-Negative
Symbol representing the size of sample - ANS-n
symbol representing standard deviation of a population - ANS-σ
symbol representing variance of a population - ANS-σ 2
symbol representing mean of a population - ANS-μ
symbol representing mean of a sample - ANS-x̄
The measure of central location most often reported for annual income and property
value data is the - ANS-median
correlation coefficient ranges from? - ANS--1 to +1
Excel's _____ function can be used to compute the sample variance. - ANS-VAR.S
variance is equal to - ANS-squared value of the standard deviation
Excel's _____ function can be used to compute the mean. - ANS-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. - ANS-b. The data set is a sample.
Standard error of the mean decreases - ANS-as sample size increases
standard error of the mean value is influenced by the - ANS-standard deviation of the
population
Standard error of the mean... - ANS-measures the variability in the sample means
the probability distribution of all possible values of the sample means called the -
ANS-sampling distribution of the sample mean
The value of the sample statistic is used to estimate - ANS-the value of the population
parameter
The standard deviation of a point estimate is - ANS-the standard error
The standard deviation of x̄ is referred to as - ANS-the standard error of the mean
The finite correction factor should be used in the computation σx̄ and σȳ when n/N is -
ANS-greater than .05
The standard deviation of p̄ is referred to as - ANS-the standard error of the population
a numerical measure from a population such as a population mean is called a -
ANS-parameter
as the sample size increases the - ANS-standard error of the mean decreases
an interval estimate is used to estimate - ANS-a population parameter
The probability that the interval estimation procedure will generate an interval that
contains the actual value of the population parameter being estimated is the -
ANS-confidence coefficient
The use of the normal probability distribution as an approximation of the sampling
distribution of p̄ is based on the condition that both np and n(1 - p) equal or exceed -
ANS-5
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