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Solutions to BUAD 310 In-Class Practice for Final
4/22/09
True/False
1.
An example of a quantitative variable is the make of a car.
Answer: False
Difficulty: Easy
2.
An example of a qualitative variable is the mileage of a car.
Answer: False
Difficulty: Easy
3.
The population mean is the average of the population measurements.
Answer:
True
Difficulty: Medium
4.
The population mean is the point estimate of the sample mean.
Answer:
False
Difficulty: Medium
5.
The median is said to be resistant to extreme observations.
Answer:
True
Difficulty: Medium
6.
The range of the measurement is the largest measurement plus the smallest measurement.
Answer:
False
Difficulty: Medium
7.
A discrete random variable may assume a countable number of outcome values.
Answer: True
Difficulty: Easy
8.
The mean and median are the same for a normal distribution.
Answer: True
Difficulty: Easy
9.
The number of defective pencils in a lot of 1000 is an example of a continuous random variable.
Answer: False
Difficulty: Medium
10.
For a continuous distribution, P(
X
100) = P(
X
< 100).
Answer: True
Difficulty: Medium
11.
The
z
-score tells us the number of standard deviations that a value
x
is from the mean.
Answer: True
Difficulty: Easy
12.
The standard deviation of a standard normal distribution is always equal to 1.
Answer: True
Difficulty: Easy
13.
If the random variable
X
is normally distributed, 68.26% of all possible observed values of
X
will be
within two standard deviations of the mean.
Answer: False
Difficulty: Easy

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14.
For any sampled population, the population of all sample means is approximately normally distributed
for large sample size.
Answer: True
Difficulty: Medium
15.
A sample statistic is an unbiased point estimate of a population parameter if the mean of the
population of all possible values of the sample statistic equals the population parameter.

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