f98exm1c - COURSE: MSCI 3710 EXAM 1 Version C Fall 1998...

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COURSE: MSCI 3710 Print Name: EXAM 1 Signature: Version C S.S.#: Fall 1998 Seat Number: Note: Whenever question(s) are connected you may be asked to assume a result (given a value) from the previous question but this result may or may not be correct. This is to prevent you from losing points on a second question because you made a mistake on a previous question. Use the information given below to answer the next two questions. As the average age of an American car increases, the greater is the potential for increased new car sales. From a random sample, a 95% confidence interval for the average age of a car in Texas was found to be 7.5 to 9.1 years assuming the average age of a car is normally distributed. The owner of a car dealership in Texas would like to answer the following question: Is there sufficient evidence, at the 5% significance level, to indicate that the average age of a car is significantly different from 7.7 years? 1. What should be the decision and conclusion based on the confidence interval? A. Neither reject nor F.T.R. the null hypothesis. There is insufficient information given to conclude whether the average age of a car is equal to 7.7 years or not. B. Reject the null hypothesis, conclude there is evidence that the average age of a car is equal to 7.7 years. C. Reject the null hypothesis, conclude there is evidence that the average age of a car is not equal to 7.7 years. D. Fail to reject the null hypothesis, conclude there is insufficient evidence that the average age of a car is equal to 7.7 years. E. Fail to reject the null hypothesis, conclude there is insufficient evidence that the average age of a car is not equal to 7.7 years. 2. The significance level of the hypothesis test in question #1 refers to A. Twice the probability of claiming the average age of a car is equal to 7.7 years when in fact it is. B. The probability of claiming the average age of a car is equal to 7.7 years when in fact it is not . C. The probability of claiming the average age of a car is not equal to 7.7 years when in fact it is. D. The probability of claiming the average age of a car is not equal to 7.7 years when in fact it is not . E. The probability of claiming the average age of a car is equal to 7.7 years when in
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fact it is. 3. Which one of the following statements is true concerning hypothesis tests? A. The probability of a Type I error and the probability of a Type II error always sum to 1. B. A Type II error occurs if you fail to reject the null hypothesis when the null hypothesis is true. C. The smaller the specified value of alpha is, the larger the rejection region. D. The p-value of a hypothesis test is the same as the beta value for the test in general. E.
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This note was uploaded on 03/09/2011 for the course DSCI 3710 taught by Professor Dr.jay during the Spring '08 term at North Texas.

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f98exm1c - COURSE: MSCI 3710 EXAM 1 Version C Fall 1998...

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