sample exam 2

# sample exam 2 - First 5 letters of your last name Last 5...

This preview shows pages 1–4. Sign up to view the full content.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
1. (3) Which of the following is not true about the Student’s t - distribution? a. It has more area in the tails and less in the center than does the normal distribution b. It is used to construct confidence intervals for the population mean when the population standard deviation is known c. It is bell shaped and symmetrical d. As the number of degrees of freedom increases, the t distribution approaches the normal distribution 2. (2) If you were constructing a 99% confidence interval of the population mean based on a sample of n = 25 where the standard deviation of the sample s = 0.05, the critical value of t will be a. 2.796 b. 2.787 c. 2.492 d. 2.485 3. (3) A manger of a small company would like to determine whether the average monthly balance of credit card holders is equal to \$120. An auditor selects a random sample of 100 accounts and finds that the average owed is \$128.7 with a sample standard deviation of \$26.9. If you wanted to test whether the auditor should conclude that there is evidence that the average balance is different from \$120, which test would you use? a. z -test of a population mean b. z -test of a population proportion c. t -test of population mean d. t -test of population proportion 4. (12) After a financial analysis, the general manager of a large company decided that if more than 8% of potential buyers of a new product purchase that product, the company would show a profit. A hypothesis test is designed using α = 0.05 and n = 100 for the following hypotheses: H 0 : p 0.08 vs. H 1 : p > 0.08. What is the probability that 10% of potential buyers would actually purchase the product, but the test results in the conclusion that the product will not be profitable?
5. The plant manager of an automotive parts manufacturer is in the market for a new stamping machine. He has identified two possibilities, machine A and machine B. The two machines differ in cost, reliability, and productivity.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 9

sample exam 2 - First 5 letters of your last name Last 5...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online