EC315 Chapter 08 Confidence quiz help

# EC315 Chapter 08 Confidence quiz help - Chapter Eight In...

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Chapter Eight In the following multiple choice questions, circle the correct answer. 1. The absolute value of the difference between the point estimate and the population parameter it estimates is the a. standard error b. sampling error c. precision d. error of confidence e. None of the above answers is correct. ANSWER: b 2. The confidence associated with an interval estimate is called the a. significance b. degree of association c. confidence level d. precision e. None of the above answers is correct. ANSWER: c 3. A probability statement about the sampling error is known as the a. confidence b. precision c. interval d. error e. None of the above answers is correct. ANSWER: b 4. If we want to provide a 95% confidence interval for the mean of a population, the confidence coefficient is a. 0.485 b. 1.96 c. 0.95 d. 1.645 e. None of the above answers is correct. ANSWER: c 5. As the number of degrees of freedom for a t distribution increases, the difference between the t distribution and the standard normal distribution a. becomes larger 211

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212 Chapter Eight b. becomes smaller c. stays the same d. None of the above answers is correct. ANSWER: b 6. For the interval estimation of μ when σ is known and the sample is large, the proper distribution to use is a. the normal distribution b. the t distribution with n degrees of freedom c. the t distribution with n - 1 degrees of freedom d. the t distribution with n - 2 degrees of freedom e. None of the above answers is correct. ANSWER: a 7. The variance of a population is known to be 400. At 95% confidence, the margin of error will be a. 39.2 or less b. 3.92 or less c. 3.29 or less d. 78.4 or less e. None of the above answers is correct. ANSWER: b 8. An estimate of a population parameter that provides an interval of values believed to contain the value of the parameter is known as the a. confidence level b. interval estimate c. parameter value d. population estimate e. None of the above answers is correct. ANSWER: b 9. The difference between the point estimate, such as the sample mean, and the value of the population parameter it estimates, such as the population mean, is known as the a. confidence level b. sampling error c. parameter estimate d. interval estimate e. None of the above answers is correct. ANSWER: b 10. If an interval estimate is said to be constructed at the 90% confidence level, the confidence coefficient would be
Interval Estimation 213 a. 0.1 b. 0.95 c. 0.9 d. 0.05 e. None of the above answers is correct. ANSWER: c 11. Whenever the population standard deviation is unknown and the population has a normal or near-normal distribution, which distribution is used in developing an interval estimation? a.

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## EC315 Chapter 08 Confidence quiz help - Chapter Eight In...

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