1/0 Chapter Three
SELF-TESTING QUESTIONS
In the following multiple choice questions, circle the correct answer. An answer key is
provided following the questions.
1. A numerical value used as a summary measure for a population of data is called a
i
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i:
a
Economics
The study of efficient utilization or management of limited productive resources which purpose is to attain maximum satisfaction from human material wants A limited amount of available resources to fulfill the unlimited wants Comparing mar
1.A population has a standard deviation of 16. If a sample of size 64 is selected from this population, what is the probability that the sample mean will be within 2 of the population mean? a. 0.3413 b. Since the mean is not given, there is no answer
Question 1:
Add all the numbers and divide them by the number of items to get the
sample mean
Take the sample mean and subtract from the population mean
Question 2:
Z= average mean- population mean/ standard deviation/ Square root of sample size
(9)
Quest
c
Regression Statistics
R Square
0.950122955
0.90273363
Adjusted R Square
0.890575334 tSAu'
Standard Error
13.82931669
Multiple R
i0 ,'%
Observations
ANOVA
di
1
8
9
Regression
Residual
Total
Coefficients
b
Intercept
students
SS
MS
F
5 R 14200 14200 74.2
EC 271
Exam #2
Name
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
1) For some positive value of X, the probability that a standard normal variable is between 0 and
1)
+.5X is 0.4332. What is the val
EC 271
Exam 1 Study Guide
3.1
Center of Data?
Mean = average of the data
Median = middle of the data
Mode = what number occurs most frequently?
3.1
Population mean:
n= population size
Xi= ith individual value of variable x.
Easy way: Add up all va
1. From a population with a variance of 900, a sample of 225 items is selected. At 95% confidence, the margin of error is a. 2 b. 15 >c. 3.92 d. 4 2. In order to determine an interval for the mean of a population with unknown standard deviation a sam
1 Chapter 1: Course Introduction
We are interested to learn some information about a particular group, but we cannot
possibly get to all of them.
Definition. The population is the set of all objects or individuals of interest or their measurements. (usual