Business Statistics > Exam 3 - Study Guide > Flashcards

Exam 3 - Study Guide Flashcards

(73 cards)

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1
Q

A sample statistic is a point estimator of…

A
  • A population parameter
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2
Q

The mean, median, and mode have the same value for which probability distribution…

A
  • Normal
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3
Q

The probability density function for a uniform distribution ranging between 2 and 6 is…

A
  • .25
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4
Q

A standard normal distribution is a normal distribution with…

A
  • A mean of 0 and a standard deviation of 1
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5
Q

If the mean of a normal distribution is negative…

A
  • NONE OF THESE ANSWERS ARE CORRECT
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6
Q

For a standard normal distribution, the probability of obtaining a z value of less than 1.6 is…

A
  • 0.9452
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7
Q

For the standard normal probability distribution, the area to the left of the mean is…

A
  • 0.5
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8
Q

95% of the data in a normally distributed data set falls within how many standard deviations…

A
  • 2
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9
Q

The standard deviation of a sample proportion is referred to as the…

A
  • Standard error of the proportion
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10
Q

The purpose of statistical inference is to provide information about the…

A
  • Population based on information in the sample
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11
Q

A continuous random variable may assume…

A
  • All values in an interval or collection of intervals
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12
Q

For a continuous random variable x, the probability density function f(x) represents…

A
  • The height of the function at x
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13
Q

For a uniform probability density function, the height of the function…

A
  • Is the same for each value of x
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14
Q

A normal probability distribution…

A
  • Is a continuous probability distribution
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15
Q

Which of the following is not a characteristic of the normal probability distribution?

A
  • The standard deviation must be 1
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16
Q

The highest point of a normal curve occurs at…

A
  • The mean
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17
Q

In a standard normal distribution, the range of values of z is from…

A
  • Minus infinity to infinity
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18
Q

As the degrees of freedom increase, the t distribution approaches the…

A
  • Normal distribution
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19
Q

If the margin of error in an interval estimate of the pop. mean is 4.6, the interval estimate =

A
  • Sample + - 4.6
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20
Q

The certainty associated with an interval estimate is called the…

A
  • Confidence coefficient
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21
Q

An interval estimate is used to estimate…

A
  • A population parameter
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22
Q

The t distribution uses the following value with sampling when pop. std. dev. is unknown…

A
  • N - 1 degrees of freedom
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23
Q

The standard deviation of a point estimator is the…

A
  • Standard Error
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24
Q

As the sample size increases, the variability among the sample means…

A
  • Decreased
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25
In determining sample size for estimating true population proportion, what is NOT needed...
- Mean of the popluation
26
Uniform Probability Distribution
- A continuous probability distribution for which the probability that the random variable will assume a value in any interval is the same for each interval of equal length
27
Probability Density Function
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28
How to Calculate Probability
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29
How to Calculate Expected Value
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30
How to Calculate Variance
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31
How to Calculate Standard Deviation
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32
Normal Probability Distribution
- A continuous probability distribution. Its probability density function is bell shaped and determined by its mean and standard deviaiton
33
What Different Shapes of a Bell Curve Mean
- Normal Curve - Highest Point: Mean - Symmetric - Stdev determines flat and wide
34
How to Create a Bell Curve
- 68.3% of data in one stdev - 95.4% of data in two stdev - 99.7% of data in three stdev
35
How to Calculate Probability: Left-Tail
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36
How to Calculate Probability: Between
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37
How to Calculate Probability: Right-Tail
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38
How to Calculate: Z-Score
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39
How to Use Z-Score
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40
What "Z" Represents
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41
How to Find X from Probability
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42
Sampling and Sampling Distributions
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43
Element
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44
Sample
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45
Population
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46
Sampled Population
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47
Frame
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48
Population Parameters
- A numerical characteristic of a population, such as a population mean, a population standard deviation, a population proportion, and so on
49
Simple Random Sample
- A sample selected such that each possible sample has the same probability of being selected
50
Sampling from Finite Populations
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51
Sampling from Infinite Populaitons
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52
How to Select a Simple Random Sample from a Population
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53
Point Estimation
- The value of a point estimator used in a particular instance as an estimate of a population parameter
54
Inference
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55
Sample Statistic
- A sample characteristic, such as a sample mean, a sample standard deviation, a sample proportion, and so on
56
Target Population
- The population for which statistical inferences such as point estimates are made
57
Sample Mean
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58
Sample Proportion
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59
Standard Deviation of x - (standard error)
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60
How to Compute Standard Error for a Sample Mean
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61
How to Compute Standard Error for a Sample Proportion
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62
How to Calculate Probabilities of Sampling Error Using the Standard Error
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63
Interval Estimation
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64
Margin of Error
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65
Confidence Level
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66
Confidence Coefficient
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67
Confidence Interval
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68
Level of Significance
- Alpha
69
How to Calculate the Interval Estimate when Standard Deviation is Known
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70
How to Calculate the Interval Estimate when Standard Deviation Is not Known
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71
T Distribution
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72
Degrees of Freedom
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73
Determining Sample Size
-
Business Statistics
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