Econ 2500 - Practice Final Solutions
1.
(30 points)
Multiple choice questions
1)
A 95% confidence interval for the mean
of a population is computed from a
random sample and found to be
9
3
. We may conclude that
A)
There is a 95% probability that
is between 6 and 12.
B)
There is a 95% probability that the true mean is 9 and there is a 95% chance
that the true margin of error is 3.
C)
If we took many, many additional random samples and from each computed a
95% confidence interval for
, approximately 95% of these intervals would
contain
.
D)
All of above.
Answer C
2)
Suppose that the population of the scores of all high school seniors that took
the SAT-M (SAT math) test this year follows a normal distribution with mean
and standard deviation
100
. You read a report that says, “On the basis
of a simple random sample of 100 high school seniors that took the SAT-M
test this year, a confidence interval for
is
512
25.76
.” The confidence
level for this interval is
3)
Other things being equal, the margin of error of a confidence interval increases
as
4)
The P-value of a test of a null hypothesis is

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