Question 1: In a simple random sample from a population of several hundred that's approximately normally End of exam distributed, the following data values were collected.
68, 79, 70, 98, 74, 79, 50, 102, 92, 96
Based on this information, the confidence level would be 90% that the population mean is some where between
A. 71.36 and 90.24.
B. 73.36 and 88.24.
C. 69.15 and 92.45.
D. 65.33 and 95.33.
Question 2: A federal auditor for nationally chartered banks, from a random sample of 100 accounts, found that theaverage demand deposit balance at the First National Bank of Arkansas was $549.82. If the auditor neededa point estimate for the population mean for all accounts at this bank, what should he use?
A. There's no acceptable value available.
B. The average of $54.98 for this sample
C. The average of $549.82 for this sample
D. The auditor should survey the total of all accounts and determine the mean.
Question 3: When the confidence coefficient is large, which of the following is true?
A. The confidence interval is narrow.
B. It's more likely that the test will lead you to reject the null hypothesis.
C. Its value is close to 1.0, but not larger than 1.0.
D. Its value is 1.0 or larger.
Question 4: Determine the power for the following test of hypothesis.
H0 : µ = 950 vs. H1 : µ ? 950, given that µ = 1,000, a = 0.10, s = 200, and n = 25.
A. 0.5062
B. 0.6535
C. 0.4938
D. 0.3465
Question 5: A mortgage broker is offering home mortgages at a rate of 9.5%, but the broker is fearful that this valueis higher than many others are charging. A sample of 40 mortgages filed in the county courthouse shows anaverage of 9.25% with a standard deviation of 8.61%. Does this sample indicate a smaller average? Use a= 0.05 and assume a normally distributed population.
A. No, because the test statistic is -1.85 and falls in the rejection region.
B. No, because the test statistic falls in the acceptance region.
C. Yes, because the sample mean of 9.25 is below 9.5.
D. Yes, because the test statistic is greater than -1.645.