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Exam (elaborations) Economics Statistics for Business and Economics
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STA1610 Assignment 1 - 2024 (90% Guaranteed)
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Statistics 2, Probabilities
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Statistics for Business and Economics 8th Edition Newbold TEST BANK Latest Update 100% Complete Solution
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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
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