OSU BUSMGT 2320 - sampleexam2 (9 pages)

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sampleexam2



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sampleexam2

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Pages:
9
School:
Ohio State University
Course:
Busmgt 2320 - Decision Sciences: Statistical Techniques

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1 The average monthly electric bill of a random sample of 256 residents of a city is 90 with a standard deviation of 24 a Construct a 90 confidence interval for the mean monthly electric bills of all residents b Construct a 95 confidence interval for the mean monthly electric bills of all residents Answers a 87 5325 to 92 4675 b 87 06 to 92 94 2 In a random sample of 400 registered voters 120 indicated they plan to vote for Candidate A Determine a 95 confidence interval for the proportion of all the registered voters who will vote for Candidate A Answer 0 255 to 0 345 3 A sample of 100 cans of coffee showed an average weight of 13 ounces with a standard deviation of 0 8 ounces a Construct a 95 confidence interval for the mean of the population Answers a 12 8432 to 13 1568 4 A random sample of 121 checking accounts at a bank showed an average daily balance of 300 and a standard deviation of 44 Develop a 95 confidence interval estimate for the mean of the population Answer 292 16 to 307 84 5 A sample of 51 observations will be taken from an infinite population The population proportion equals 0 85 The probability that the sample proportion will be between 0 9115 and 0 946 is a 0 8633 b 0 6900 c 0 0819 d 0 0345 Answer c 6 A finite population correction factor is needed in computing the standard deviation of the sampling distribution of sample means a whenever the population is infinite b whenever the sample size is more than 5 of the population size c whenever the sample size is less than 5 of the population size d The correction factor is not necessary if the population has a normal distribution Answer b 7 Four hundred people were asked whether gun laws should be more stringent Three hundred said yes and 100 said no The point estimate of the proportion in the population who will respond yes is a 300 b approximately 300 c 0 75 d 0 25 Answer c 8 A population has a mean of 300 and a standard deviation of 18 A sample of 144 observations will be taken The probability that



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