Sample_Midterm1-solution

Sample_Midterm1-solution - BUAD310 NAME: _SAMPLE SOLUTION_...

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BUAD310 NAME: _______________________ SAMPLE SOLUTION _____________ BUAD 310 LAB TIME: __________________________________________________ USC ID: _________________________________________________ Dr. ARIF ANSARI SAMPLE MIDTERM # 1 This exam is closed book. 1 Sheets (2 pages) of formula and definitions is allowed. Write your answers on the exam sheets. If you need more space, continue your answer on the back of the page. Make sure you have all *** pages (*** pages)! The exam is 75 minutes long. Total of *** points. They are not equally weighted, nor are they of equal difficulty. The number of points each question is worth is printed with the question. Read the questions carefully. If you are unsure of the interpretation, come ask. Unless otherwise stated in a question, you must show your work to obtain full credit. If you can't complete a problem for any reason, explain what concepts are at issue, and how you would attack the problem. It is, in any case, a good idea to explain what your reasoning is in English. If I can't tell that you understood what you were doing, I can't give you credit, particularly if you get the wrong numerical answer. GOOD LUCK! Part I 1
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BUAD310 MULTIPLE CHOICE [1 points each] 1. If the sample size is increase d and the confidence level is decreased , which one of the following will be true? a) The width of the confidence interval will decrease. Answer (n ↑ ↔ W ↓ and CL ↔ W ↓) b) The width of the confidence interval will increase. c) The width of the confidence interval will not change. d) Cannot tell based on the given information. e) None of the above. 2. An Estimator is called unbiased if, a) The expected value of statistic is equal to the parameter Answer b) The expected value of parameter is equal to the statistic c) The variance of parameter is equal to the statistic d) None of the above (This is by definition.) 3. You want to select a group of students to represent the campus and if you select every 50 th member from the campus student directory, you used the following sampling plan: a) Simple random sampling b) Cluster sampling c) Systematic sampling Answer d) Stratified sampling e) None of the above (Selecting every 50 th member, this is a systematic way of sampling). 4. The variance of the sample proportion takes on its largest value when we assume the population proportion is: a) 0 b) 1 c) 0.5 Answer d) None of the above values The variance of proportion is Vp = p(1-p) 5. A sample of size 16 is drawn from a population with standard deviation 5. The standard deviation of the sample mean is: a) 1.2500 Answer b) 0.3125 2 θ = ) ( U E 0 0.5 1 Var. of Proportion
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BUAD310 c) 1.5625 d) 5.0000 e) None of the above PART II [75 points] 1: The manager for Demobank Corporation is concerned about the time that the bank’s customers spend in the waiting line prior to receiving service at a teller’s window. A sample (
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Sample_Midterm1-solution - BUAD310 NAME: _SAMPLE SOLUTION_...

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