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UCF QMB 3200 FINAL EXAM QUESTIONS AND ANSWERS UPDATED (2024/2025) (VERIFIED ANSWERS)
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UCF QMB 3200 FINAL EXAM QUESTIONS AND ANSWERS UPDATED (2024/2025) (VERIFIED ANSWERS)UCF QMB 3200 FINAL EXAM QUESTIONS AND ANSWERS UPDATED (2024/2025) (VERIFIED ANSWERS)UCF QMB 3200 FINAL EXAM QUESTIONS AND ANSWERS UPDATED (2024/2025) (VERIFIED ANSWERS)UCF QMB 3200 FINAL EXAM QUESTIONS AND ANSWERS U...

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  • November 6, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • UCF QMB 3200
  • UCF QMB 3200

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UCF



UCF QMB 3200 FINAL EXAM QUESTIONS
AND ANSWERS UPDATED (2024/2025)
(VERIFIED ANSWERS)


Which of these best describes a sampling distribution of a statistic? - ANS
✓It is the distribution of all of the statistics calculated from all possible samples
of the same sample size.


The probability distribution of all possible values of the sample proportion
is the - ANS ✓sampling distribution of p.


For a fixed confidence level and population standard deviation, if we would
like to cut our margin of error in half, we should take a sample size that is -
ANS ✓four times as large as the original sample size.


We can reduce the margin of error in an interval estimate of p by doing any
of the following except - ANS ✓increasing the planning value p* to .5.


When computing the sample size needed to estimate a proportion within a
given margin of error for a specific confidence level, what planning value of
p should be used when no estimate of p is available? - ANS ✓0.50


A statistics teacher started class one day by drawing the names of 10
students out of a hat and asked them to do as many pushups as they could.
The 10 randomly selected students averaged 15 pushups per person with a
standard deviation of 9 pushups. Suppose the distribution of the population
of number of pushups that can be done is approximately normal. Which of
the following statements is true? - ANS ✓A t distribution should be used
because σ is unknown.




UCF QMB

, 2
UCF
The z value for a 99% confidence interval estimation is - ANS ✓2.58


In an interval estimation for a proportion of a population, the critical value
of z at 99% confidence is - ANS ✓2.576.


In interval estimation, as the sample size becomes larger, the interval
estimate - ANS ✓becomes narrower.In general, higher confidence levels provide
larger confidence intervals.


One way to have high confidence and a small margin of error is to - ANS
✓increase the sample size.


From a population that is normally distributed, a sample of 30 elements is
selected and the standard deviation of the sample is computed. For the
interval estimation of μ, the proper distribution to use is the - ANS ✓t
distribution with 29 degrees of freedom.


As the number of degrees of freedom for a t distribution increases, the
difference between the t distribution and the standard normal distribution
- ANS ✓becomes smaller.


The value added and subtracted from a point estimate in order to develop
an interval estimate of the population parameter is known as the - ANS
✓margin of error.


What is the symbol for the population mean? If the population follows a
normal distribution, the confidence interval is _____ and can be used for any
sample size. If the population does not follow a normal distribution, the
confidence interval will be _____. Which of the following choices correctly
complete this statement? - ANS ✓exact; approximate.


The t value for a 99% confidence interval estimation based upon a sample
of size 10 is - ANS ✓3.250.



UCF QMB

, 3
UCF
To compute the necessary sample size for an interval estimate of a
population proportion, all of the following procedures are recommended
when p is unknown except - ANS ✓using .95 as an estimate.


Using an α = .04, a confidence interval for a population proportion is
determined to be .65 to .75. If the level of significance is decreased, the
interval for the population proportion - ANS ✓becomes wider.


For a fixed confidence level and population standard deviation, if we would
like to cut our margin of error to 1/3 of the original size, we should take a
sample size that is - ANS ✓nine times as large as the original sample size.


The sampling distribution of can be approximated by a normal distribution
as long as - ANS ✓np> 5 and n(1-p)>5 greater or equals.


When "s" is used to estimate "σ," the margin of error is computed by using
the - ANS ✓t distribution.


The margin of error in an interval estimate of the population mean is a
function of all of the following except the - ANS ✓sample mean.


For a fixed sample size, n, in order to have a higher degree of confidence,
the margin of error and the width of the interval - ANS ✓must be larger.


The probability that the interval estimation procedure will generate an
interval that does not contain µ is known as the - ANS ✓level of significance.


As the sample size increases, the margin of error - ANS ✓decreases.


When the level of confidence decreases, the margin of error - ANS ✓becomes
smaller.




UCF QMB

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